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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 25, 1959
Page
5
A week‑long survey shows near normal operations returning across hosiery makers. Early year orders for spring goods are good to excellent, with some plants running full weeks while others sit at 75 to 80 percent capacity.
Sears, Roebuck and Company reports its Employer Savings and Profit Sharing Pension Fund surpasses 1.06 billion dollars in assets as of December 31. Fund chairman James M. Barker notes member contributions total 141 million, company contributions 920 million, with 611 million withdrawn since 1916. About 74 percent of assets are Sears stock, the fund’s largest single holding.
A bill requiring a skull and crossbones label on every cigarette package comes up for final Senate vote in Pierre. The Public Health and Welfare Committee erased a death warning and the bill now features a skull and crossbones on the state tax stamp, while noting the state does not recommend cigarette use. If approved by the Senate, it moves to the House.
Advertisement lists Chas. E. Diffendal Jr of High Point North Carolina with contact Tel 24531 serving Charlotte Raleigh and New York City in a regional trucking or business directory listing.
Detroit reports strong retail deliveries with forecasts to exceed 420000 units this month. Analysts compare current pace to 1956 57 levels, noting 1959 projections around 5.0 million units and a January production near 550000 despite Chrysler glass shortages.
The Associated Press average of 60 stocks rose 20 cents to 219.50 for the week, marking eight straight advances though the market was mixed with two gains, two losses, and one unchanged day. Turnover totaled 19,297,700 shares. Top movers included American Motors, Royal Dutch, Pan American World Airways, Standard Oil New Jersey, and Studebaker-Packard.
The piece explains unofficial bid and asked prices from the National Association of Security Dealers and other sources as a guide to approximate ranges at January 22 1959. It mentions origin of quotations on request and notes lichens as pioneers on ice scarred land.
U S government bonds fell over the week with short term bills climbing to a 13 month high. Investment quality corporates slipped while the broader corporate market finished higher. Trading slowed on the NYSE with volume $34,717,000 and government bond losses near a full point in some issues.
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