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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jun 29, 1958
Page
5
Tomlinson reports over 13 million dollars in Sophisticate sales by 5 franchised retailers in 20 months. The line grew despite recession due to aggressive advertising, merchandising, and maintained quality.
A nationwide AP survey finds uneven 1958 recession effects across states. Farmers prosper in the West while auto dealers struggle. consumers save or spend cautiously amid fear of layoffs. Economists see a late-year recovery with industrial output edging up and unemployment easing modestly.
Unofficial bid and asked prices compiled June 26 1958 as a guide to approximate ranges. They are not actual transactions and origin of quotations is available on request.
The Ahnapee and Western Railway with 34 miles of track seeks government approval to run a 222 mile freight car ferry service across Lake Michigan. The line operates on Wisconsin's Door County peninsula extending into the lake.
The New York stock market advanced in the first half of 1958 despite a recession, recovering about 60 percent of losses from the July to October 1957 decline. The AP 60-stock average rose to 174.30, with gains led by lower priced and speculative issues as blue chips paused. Short interest hit a record 5,795,105 shares as skeptics questioned valuations. Easy credit and abundant money supported ongoing buying.
In mid 1950s market activity U S and corporate bonds rose in the first half of 1958 despite recent declines. Federal Reserve credit easing lower rates and a recession underpinned gains while June saw treasury issues retreat before a sharp selloff. large issues like Standard Oil of California’s 150 million debenture were postponed as investors adjusted.
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