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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 12, 1962
Page
2
The Cotton market opened today in New York with no actual trades recorded as the session began. Traders monitored initial price movements and awaiting early quotes from commodities desks.
Argentina's General Confederation of Labor with about three million members prepared for nationwide strikes and demonstrations against the new austerity measures. The action follows government price hikes and tax increases, with the union warning of social unrest if reforms deepen hardships.
Unofficial bid and asked prices compiled as a guide to approximate ranges securities could have been sold or bought. Listings include First Southern Co First Union Nat Bank Gulf Life Allied Security Allvae Metals Amer Fid Life and others with varying bid and asked percentages.
A 36 year old man from Kivett Drive was sentenced to seven months in prison for drunkenness and larceny. Clyde Leftwich stole four beef steaks valued at $4.54 from the Big Bear Store on April 9 while under suspended sentences. Judge Byron Haworth imposed 60 days for the steak theft and added existing sentences for prior larceny and drunkenness, with Leftwich jailed for prison camp assignment. Other results include Jesse Flowers receiving eight months on the heads for drunken driving with conditions and a $125 fine. Kenneth Duncan got 30 days suspended for 12 months on a reckless driving conviction, and Larry Stilwell was fined for reckless driving. In Bloomington Indiana AP report, Dr. Jesse J. Galloway, 79, renowned Indiana University geology professor, died of a heart attack. funeral arrangements not announced.
In Havana 54 sick or wounded Bay of Pigs prisoners are to be released Saturday after ransom funds are paid into a Canadian bank. Negotiations continue for the remaining 1,179 inmates as exiles arrange flight to Miami with two doctors. The ransoms, set by a Cuban tribunal, total 62 million dollars while families’ committee has only 26 million collected. President Kennedy says the US government will not participate in the negotiations.
The Dow Jones industrials hovered around mid 680s to 690 with declines from 689.72 at 11 a.m. to 688.51 at noon. The rail index showed 142.60 at 11, slipping to 142.57 at noon and closing 143.37. Utilities stood at 128.87 11 a.m. and 128.68 at noon, ending 129.48. Volume figures rose from 820,000 to 3,240,000 as trading intensified.
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