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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 02, 1958
Page
5
Reaction to the Chicago Merchandise Mart open house after the winter market suggests public viewing could reshape market setup views. A Home Furnishings Daily survey shows manufacturers and retailers weigh the pros and cons of inviting consumers to see the expansive display and after market preferences.
Lexington Kentucky Dan Estepp charged with non support of his wife was jailed yesterday and ordered to pay room and board. Judge Bart Peak allowed day work and part time freedom so Estepp paid only 1.25 dollars daily for meals and lodging, less than the 1.75 dollar daily cost.
Columbia vice president Wilson Wallace Charlotte president Fred Guerin High Point secretary treasurer Irving Meadows Richmond vice presidents T E Cochrane Lincolnton listed among Snow Studio officials.
The Treasury announced a huge new refunding operation worth 16% billion with a three fold issue including a 2 year 3 percent bond a six year 3 percent bond and related exchange rights. The move pressured government bonds and paused corporate security advances while utilities and industrials rose and rails and foreign dollar notes fell. Trading on the NYSE fell to 25 693 700 in value.
Chicago buyers faced weak demand and an undertone as hog receipts for the week were the second smallest since October. Prices held steady to 75 cents lower, with light weight No 1 and 2 hogs down the most. Cattle slaughters were light but steers sold unevenly with some lots $2 below last week. Dressed beef wholesale prices eased, while bulls rose to $19.00-21.00 and vealers stayed at $27.00-32.00 in a market near a five year peak.
New York shares rose in January 1958 with the AP 60-stock average up 7.80 to close at 162.50. The rise, now in its third straight weekly advance, reflected reinvestment demand, expectations of higher defense spending, an end to the slump, and Federal Reserve rate signals.
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