European Stars And Stripes Newspaper Archives Mar 9 1962, Page 23

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European Stars And Stripes (Newspaper) - March 9, 1962, Darmstadt, HesseOf it Ftp the Stab and Stoks for trading up til sewage use an Atmos a Spagne visitor a ratty. Stocks trans of tour declines Sug Ingoe of their big it the year itbongn1 to expand Sig if who had expected Only it Mavety on the strength to resume steel bargain next week plus brighter employment Statis surprised by of the rally. Of the still relatively. Most Felt it was still to Cay that a sustained rally was underway. Exam the business picture too Cloudy to warrant continuation of the recovery f juncture. Gain in Dow Jones Indus a fleeced jumps of a Pointin us. Steel Chrysler. Molars Allied chemical Kodak Tonton Carbide. Tobacco american the owe afr imn ols. And Proctor firm on the average ties do need sharply. Pap Ennen and dignitaries proposed a Toast of Long health and lasting integrity to the financial Community s Newborn. Trading began at 11 jul and Cor one hour brokers raced with Telephone repairmen for the phones while visiting dignitaries smiled broadly for the in the Exchange s eight securities was suspended at noon Tor a breather but resumed briskly 15 minutes an mishaps Loose ends and general confusion strongly reminiscent of an opening night on Broadway trading for the first Day totalled 11800 shares and this was corrected Only once beamed the Chat Sucan. Over counter stocks for the factual minded the companies listed on the new Exchange Are Ansonia wire & Cable co.,automated procedures corp., Camp chemical co. Golconda Lead mines leading credit corp., missile Shes inc., Nashville electronics inc., and to development corp. Use chairman Lawrence h. Taylor who has been working on the plans for four years said the Exchange has been established to meet the needs of uie rapidly expanding Over the counter Securi ties Market most of the listed companies for Merly were traded on the Over the counter Exchange is located in the ground floor of the mercantile Exchange building 6 Harrison St to qualify for a listing a company must have a minimum of 500 shareholders 100,000 shares in the hands of the Public and net Worth of $500,000. Stock Exchange prices wife Urt 17 a i of Taik Lair 4tvi it a 1vt�% 41 it-4n 44% m 4 we i my Slurf pm Tuu 144�j, Iii n a 4 f4j a m pm Tomt Gnu w Birtt Oil ism lit new lit of tuft it t4t Mac a l a air at Mmott Heel tfa$47 m to i 11% a St Camut pm i Hawl 1� Kin in wort m Mitaras my kill dim us 174 a 7i thus a w ii 4 it he ill ii am Ahtty Tat i a 31 17 s414 Ith us pet Ria i7k, Sittl Oil exalt True 6to i Stoke to a let to Tler Tel ii aft a i is he. A s4. S a w 7% 41 41 2 do is i4h 33h 39 Umak us Fiatt us it a am in rebel 71 i m aus Ili i 79 front Kutill Lamch. Leree Fenner a Smith Frankfurt Mutual funds prices by United fran Inu National a. R he. A bid x44 to it 241 s.4 1.1 -4� i to j4 Sis u7 1iji 11.71 let a. Tent of b4 ii or. 7 mar. Bid asked bid 11.11 041 i1.m 14.17 14.17 14.71 Ujj 11.17 �.32�.m a�j4 ius i4jm 1141 is.4i 11.17 Fini hut in on Wlk ill i a sol c at Owh Mats. Or two of. Us Szaj u-7j 11,71 11.90 h.7 tji i i if.ff4 mm4j1 la i.7� i. Ii 44j Lut a i. Sin. Ca i Psi it. Ii .43 ill to Tow u.i4 Ilott ii us ic.44 iuij4 a 1.h Plait sate 2% million new York a the for foundation has announced plans to sell a huge Block of Ford motor co Stock 214 million shares late next month. At current Market Price the Stock would bring in some j220 million. The foundation making the fifth such Public offering in the last six years is seeking to diversify it enormous securities holdings. Even after the forthcoming Sale the foundation will retain More than 90 per cent of All Ford s outstand ing Stock. The Ford motor co. Itself is not involved in the projected Sale. Since 1956, the foundation has sold about 19 million of the 549 million shares of Ford Stock i received under the bequest of the late Henry Ford and his son Edsel until that time the Ford motor co. Was one of the largest an last family owned Industrial enter Prises in the nation. The forthcoming Stock offering . Automakers Welcome new Tariff reductions Detroit a a Auto manufacturers generally View the reciprocal cuts in tariffs just announced As a step in the right direction. The Industry traditionally has advocated Freer Trade. Henry Ford ii said recently his company would much prefer a Complete absence of Tariff barriers both Here and abroad. All five american car manufacturing companies stand to benefiting both directions since they both import and Export vehicles. Europe affiliates general motors imports car from its German and English affiliates. Ford imports from England. Chrysler Owna 25 per cent of Simca of France and imports Simca motors imports its metropolitan from England and Stude Baker Packard is the american representative for Mercedes Benz and Dow. Both of Germany. Tariffs on imported cars will be reduced from the current 8j per cent to about &5 per cent. The reciprocal Cut will reduce tariffs on american cars by 34 percent which in Moat of Europe for example would drop it from 29 per cent to21 per cent of the base Price. Limited demand none of the Domestic companies expects the action to have any noticeable effect on its Export of fully assembled cars to Europe. Tariffs will remain High and taxes on horsepower combined with smaller european roads sharply limit the demand for american sized autos some observers suggested the Tariff reductions would boost the chances of Domestic companies which want to compete for Auto parts business abroad. Will be one of the largest in recent the last 14 months the Price of Ford Stock has Range from a High of $117,50 a share to a Low of j63.7s. The Issue close wednesday at 998.63 a share off $3.50 on the Day. Under the proposed new Sale of2k million shares the Ford fam ily s voting Power in the motor company would be cot from 40 to. 30 per cent. This however would still assure it a working control of the company s management and operation. ,.oft to Hospital a former us Pilot frauds Gay Panto by a to item leave the Senate too after completing testimony before the Senate ainu services committee. Shortly afterwards be entered Georgetown. University Hospital for a physical checkup expected to take air jul by Cut lawbreaker s sentence rules out third degree Crete land Ohl Fri com Nib plea judg William k. Thomas of nyah go c4wnty apparently had is mind on us Alma mater when Wlliam Fer Guson 34, of Cleveland name before him to plead guilty to breaking into � Home. Yon Are hereby sentenced Toone to five years in Ohio state University Thomas said. That would have Given Fergus enough time to earn a Bachelor s degree and a year on Bis master. ,4uto kills 29 injures 15 Beverly Hills. Calll a a car roared backward out of control into a group of club women at a hotel Entrance. The car s open door swept the women Down like scythe killing one and injuring 15. The Driver David Hoffman 79, told police he apparently stepped on the accelerator when he leaned Over to open the car door for his wife. He said he thought the car was out of gear. Police said it Wasin reverse. Hoffman s wife Esther 72, was among nine women seriously injured terrorists blast British Columbia Power line Tower Nelson by Cap syn Matt tag of a 300-ton Power line Tower by unidentified terrorists cause major Industrial shutdowns in Southeastern British coh Tomota the provincial government offered rewards of s10.000 each for conviction of persons involved. The blasts pitched the big Tower into Kootenay Lake 30 Miles North East of Here. The explosions occurred shortly after six leaders of the sons of Freedom Radical Branch of thedous Fiodor sect had been arrested by Royal Canadian mounted police. The government hat brought 72 members of the sect to trial on bombing and arson charges this Winter and 14 Persona have been sent to jail consolidated mining ant smelt ing co. Owner of the Power sys tem which served its plants and a string of villages said repair would Cost at least $500.000 and might take months. Argues with trooper Dies grand rapids. Mich. Turd Jerome closer. 70. Suffered a fatal heart attack while angrily berating the state trooper who arrested him on a minor traffic charge it. Polk Call protest Sluty it. Polk la. Up the commanding general at it Polk maj Gen Harley b. West confirmed that about 200 servicemen convened in front of the enlisted men s club to protest being held to Active duty despite relaxation of the Berlin As Many As 200 soldiers gathered in front of the service club. Some of them were there for Normal purposes others undoubtedly came to have a West said. West said the men met to talk about when they might be getting out and How they could get he denied reports that the group marched. He said they stayed around for about 30 or 40 minutes and then melted the general indicated he did not believe their attitude was characteristic of the men on duty a Polk. It was orderly there was no marching there was no disorder or other rowdiness the general said. He said there were no arrests and denied that a camera was confiscated by military police when someone tried to take a Pic Ture of the group. T they were Fust a Bunch of boy who want to go Home. You Don t help matters by punishing them West added. He said that most pro testers were fillers and not the regulars of the 49th div the 49th id a Texas National guard outfit. Commanded by West the incident is the latest by disgruntled reservists and National guardsmen who were put on Active duty last fall. Earlier this week a group of some 400 men drafted a Ettis and to Otto every senator to Washington. In it then objected to being called to Active duty and being retained even though they. Peli be the Rea son for their activation bad Long been passed. One Serviceman Matt Clear the men were not mkt no be Wilt conditions at the Post be said the a otters were Battet because the Tost the a to pts and Homes and had to take severe Salar cats being recalled

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