Stock Market Mixed After Opening Rally Slips Late
The New York market fell from early gains as a broad mix of shares declined. Industrials and steels led losses while select issues posted modest gains. major names like U S Steel General Motors Chrysler Gulf Oil and United Aircraft shadings of decline were noted. The noon Dow average stood down about 60 cents with sector indices lower.
MENTIONED IN THIS ARTICLE
NEW York
Bethlehem Steel
Youngstown
U.S. Steel
Republic Steel
Glenn L. Martin
Douglas Aircraft
United Aircraft
General Motors
Chrysler
American Telephone
International Nickel
Bache & Company
American Can Co
Allied Chemical & Dye
American Tobacco Co
the Borden Co
Burlington Mills Corp
Chrysler Corp
New York Central AR
Carolina Light & Power
DuPont de Nemours
Dow Chemical
Eastern Airlines
Consolidated Edison
Eastman Kodak
General Dynamics
General Electric
Gulf Oil
Goodyear Tire & Rubber
International Harvester
International Tel. & Tel
Standard Oil Co
Jones Laughlin Steel
Johns Manville
Loew's Inc
Norfolk & Western Ry
Phillips Petroleum
Pennsylvania Railway
Pepsi-Cola
Procter & Gamble
Reynolds Tobacco
Sears Roebuck
Southern Railway
J. P. Stevens Co
American Tel
Eisenhower Budget Forecast Sees Bigger Personal Tax Take
President Eisenhower predicts Americans will pay about 2.5 billion more in income taxes and 0.6 billion more in corporate taxes in the coming year. He forecasts total revenue at 73.5 billion and expenditures at 71.5 billion, signaling cautious optimism about growth amid slower industrial gains and retail demand.
MENTIONED IN THIS ARTICLE
Sam Dawson
New York
Eisenhower
Wall Steet
Federal Reserve Board
Bill Would Prosecute Unwed Mothers in Georgia
Atlanta Rep Jack Ray of Warren County proposes a House bill to criminally prosecute unwed mothers. The measure would treat a sworn statement that a woman is the mother of an illegitimate child as prima facie evidence, aiming to penalize mothers and curb rising illegitimacy in the state.
MENTIONED IN THIS ARTICLE
Atlanta
Jack Ray
Warren County
Ray
Dow Jones Averages Report At Noon And Close
The Dow Jones averages show a midday reading of 485.05 for 30 industrials, 153.76 for 20 rails, and 69.69 for 15 utilities with overall index at 171.80 as trading volume reaches 2,210,000 shares. The furnisher Bache & Co. provided the figures and the earlier noon reading was 482.47.
MENTIONED IN THIS ARTICLE
Bache & Co
Non-Defense Spending Rises in Eisenhower Budgets
The 1958 fiscal year nondefense federal outlays total 26.5 billion dollars, up 400 million from the 1957 revised estimate and higher than actual nondefense spending in 1956 by 2.4 billion and 1955 by 4.6 billion. The Truman era budget had included 2.0 billion in nonsecurity spending.
MENTIONED IN THIS ARTICLE
Truman
Eisenhower
Knowland Candidacy Discounted Amid Family and Business Ties
The report states Knowland retired from the Senate due to personal reasons tied to family and business interests in Oakland. His son notes he wants to return to journalism, citing his publisher father’s age. Some colleagues say he could enter if Knight retires and opposition among California Republicans is strong, but a governor’s race path seems unlikely.
MENTIONED IN THIS ARTICLE
Senate
Knowland
Oakland Tribune
Knight
California
Ban on Trucks on Freeways Weekends Proposed
Sacramento bill by Assemblyman Charles H. Nelson proposes banning trucks from freeways from Saturday noon to Sunday midnight to cut highway accidents.
MENTIONED IN THIS ARTICLE
Sacramento
Calif
Charles H. Nelson
Los Angeles
Kremlin Fears New Policy Plan
Kremlin officials and diplomats say Moscow worries about a U S plan to court Arab nations and argues the Soviet Union cannot match U S economic offers. They note heavy domestic demands strain its resources and satellites increasingly rely on Moscow rather than contributing to its development.
MENTIONED IN THIS ARTICLE
Kremlin
Soviet Union
U. S
Middle East
Italian Reds Admit Decline in Membership
Rome Italy's Communist party acknowledges 1957 membership is over a third lower than claimed last year. Giorgio Amendola told the Central Committee he issued 1 449 000 new cards versus 2 300 000 claimed previously, with final figures likely lower. He cited de Stalinization in the Kremlin Poland Hungary as key causes.
MENTIONED IN THIS ARTICLE
Rome
Italy
Communist Party
Giorgio Amendola
Central Committee
Amendola
Kremlin
Poland
Hungary
Also Mentioned on This Page
Business Mirror
Southland
Archdale
N. C
Bill
Gilbert
N. Main ST
Dow-Jones
Mar Sagdee Esberte
Boibsavente
Washington
Congress
L Eisenhower
North Carolina
Elkins
Bedford Sales CO
High Point, N. C
Gilbert E. Marsh
Vine Street
Harris P Macy
Boone Coal and Oil CO
J R Boone
English and
Ward Sts
Davis Patrol & Detective Agency
Jack S. Davis
Westinghouse
TRS
U.S
S. Wrenn ST
Leonard
435
North Wrenn
Cecil
Oak
Pine
Ward ST
Pepsi-Cola Bottling Co
Winston-Salem, N. C
Pepsi-Cola Company
Lady Charles
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