Oils Lead Stock Market Rally In Early New York Trading
Oils and steels pushed the market higher as oil shares rose on improved earnings and merger rumors while concerns about the Middle East eased. Major gainers included Standard Oil of New Jersey Amerada Gulf Oil and Kerr McGee with broad advances across chemicals rails and industrials. The AP average was up 80 cents at noon.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Middle East
Standard Oil
New Jersey
Amerada
Gulf Oil
Kerr- McGee
Royal Dutch
Sinclair
Bethlehem Steel
Youngstown Sheet
U.S. Steel
Lukens Steel
du Pont
American Cyanamid
Business Mirror profits gain smaller than previous years
SAM DAWSON notes that 491 corporations reporting first quarter results show 279 up from last year and 212 down, with 14 losses including four railroads. Combined net earnings reach $2.997 billion, up 7.6 percent from 1956, while dividends exceed $2.5 billion. Costs and taxes rose, and profit margins fell from 12.3 to 12 percent on stockholders equity.
MENTIONED IN THIS ARTICLE
American Corpo
Ee Ee Ee
Securities & Exchange Commission
Last summer’s bird scare and plant fertilizer notes
A reader recalls using tobacco cloth to protect berries from birds across strawberry boysenberry and blueberry crops. The article compares leaf spraying ads promising giant produce with soil application, noting sprays give quick boosts for trace elements but soil fertilization remains most economical.
Air Force school closures planned at Stallings and Marana bases
Secretary Quarles announced the primary flying school program will end June 30 at Stallings Air Force Base in North Carolina and at Marana Base near Tucson Arizona. The move follows a study showing only seven of nine pilot training programs can be supported after July 1 due to public funds.
MENTIONED IN THIS ARTICLE
Washington
Air Force
Quarles
Stallings Air Force Base
Kinston
N.C
Marana
Tucson
Congress
Air Force Bases
Fountain
D-Nc
Stallings
Dow Jones Averages Snapshot
Dow Jones Averages furnished by Bache and Co show mixed figures with varied performance across sectors. Industrials hover near 146. Over 7300 on utilities and 174 on stocks, with trading volume reported at several hundred thousand shares.
MENTIONED IN THIS ARTICLE
Bache & Co
Cotton futures and stock listings show mixed movement
Cotton futures opened unchanged to a gain of about 15 cents per bale with front contracts napping around mid 33 to 34 cents. The session also notes a general stock rally with industrials and rails up around six tenths to one point while utilities hold steady, and a partial listing of major corporations and their current quotes.
MENTIONED IN THIS ARTICLE
New York
Adenauer backs NATO nuclear shield against Soviet threat
West German Chancellor Adenauer urged NATO to rely on a nuclear defense shield to deter Soviet aggression. He argued Russia's military buildup and expansion threaten world security while insisting NATO remains defensive, not an offensive weapon. He praised Lord Ismay's NATO leadership.
MENTIONED IN THIS ARTICLE
Adenauer
NATO Council of Foreign Ministers
West Germany
NATO
Soviet Union
West
East Germany
Russia
East Europe
Free World
Gaetano Martiano
NATO Council
Lord Ismay
Britain
New Area Of Disaster In Texas
Federal and local officials designated Newton County as a disaster area after plans for full evacuation of Deweyville. The Sabine River crested at 14.37 feet and was forecast to reach 16.3 feet, threatening Orange city. Gulf Oil worker Claude Villamez described the situation while Dallas rain flooded streets and forced evacuations.
MENTIONED IN THIS ARTICLE
Ters
Newton County
Deweyville
John W. Simmons
Sabine River Authority
Orange
Claude Villamez
Gulf Oil Co
Dallas
Postal Rates Considered by House Post Office Committee
Washington The House Post Office Committee begins closed door consideration of higher postal rates as part of the Eisenhower program. The panel aims to decide within a week what to recommend to the House. Chairman Murray says the increases are needed to support the Post Office. The bill would raise about 527 million dollars in postal revenues by 1961, with 462 million in the first year, including a penny rise on 3 cent and 6 cent airmail stamps.
MENTIONED IN THIS ARTICLE
Washington
House Post Office Committee
House
Murray
D-Tenn
Dallas River Flood Watch Lifts as Levels Rise
The Trinity River at Dallas was on a rapid rise with forecasts of 34 feet, six feet over flood stage but below major flood stage of 38 feet. Police Sgt. Melvar Farrar said Gladewater remained under control despite scattered rain last night.
MENTIONED IN THIS ARTICLE
Dallas
Weather Bureau
Trinity River
Melvar Farrar
Gladewater
Dulles Checks In Six Months After Cancer Operation
Washington Secretary of State Dulles reports feeling fine six months after a cancer surgery. He has traveled extensively, returning to Washington in December and planning trips, while questions linger about his retirement timing and succession.
MENTIONED IN THIS ARTICLE
Dulles
Washington
Bonn
West
United Nations
New York
Eisenhower
Bright Lights Replacing Gloom on Third Avenue in NYC
A once gloomy street on Third Avenue in New York City near the elevated railway has been cleared and fitted with fluorescent lights, making the thoroughfare appear forty times brighter than moonlight.
MENTIONED IN THIS ARTICLE
Third Avenue
New York City
Also Mentioned on This Page
Business Mirror
By Sam Dawson
John H. Harris
N. C. State College
Meinhard & Company, Inc
Fourth Ave
Southern Rep
von D. Oehmig
Columbus
Air Force School
Dow-Jones
Scccnevecvass
Kevecccceveves
Erentenee
Sccdveccveens
Sesceoespikes
See
Pam
Bache & O
American Can Co
Allied Chemical & Dye
American Tobacco Co
the Borden Co
Burlington Mills
Corp
New York Central AA
Cone Mills Corp
Carolina Light & Power
Douglas Aircraft
DuPont de Nemours
Dow Chemical
Eastern Airlines
Consolidated Edison
Eastman Kodak
General Dynamics
Electric
General Motors
International Tel
Standard Oil Co
Jones Laughlin Steel
Johns Manville
Loew's Inc
Norfolk & Westen Ry Ao
Phillips Petroleum
Pennsylvania Railway
Proctor & Gamble
Reynolds Tobacco
Republic Steel
Sears Roebuck
Southern Ry
J. P. Stevens
American Tel
Tel
The
Texas Co. Op Union Carbide & Carbon
United Aircraft Corp
We Electric Co
Woolworth Co
Ihe
Texas
Paris
State Department
Christian Herter
Massachusetts
Penney
America
Dacron
Silhouettes Unlimited
Soma
Tum
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