Market wraps steady gains in steel and aerospace shares
New York stocks moved higher in moderate afternoon trading led by steels and aircraft firms. Major steel names hit year highs as rails coppers and building materials shares advanced. Aviation firms Boeing United Aircraft North American Aviation and Republic rose about a point. The Associated Press index hovered around 167.70 with industrials and rails posting gains as investors evaluated dividend and growth prospects.
MENTIONED IN THIS ARTICLE
New York
U.S. Steel
Youngstown Sheet
Lukens
Bethlehem
Republic Steel
Boeing
Republic Aviation
United Aircraft
Bell Aircraft
General Dynamics
North American Aviation
North American
Kennecott
Anaconda
Southern Pacific
Reading Co. First
Bache & Co
Eisenhower Signs Military Pay Boost Bill
President Eisenhower signed a bill to raise military pay to attract longer service. Effective next month, active duty personnel in the Air Force Army Navy and Marines with over two years of service receive increases from 599 to 620 dollars a month depending on rank. Draftees and new officers receive no raise. Coast Guard Public Health Service and Coast and Geodetic Survey members are also covered. First year cost is about 576 million dollars.
MENTIONED IN THIS ARTICLE
Washington
Eisenhower
Air Force
Army
Navy
Marines
Joint Chiefs of Staff
Coast Guard
Public Health Service
Coast and Geodetic Sur
Pentagon
Samia Tat Bee Ie
Shadrick Recaptured At Durham
Four of five inmates who escaped from the State Mental Hospital ward for the criminally insane were recaptured early today in Durham. Leroy Shadrick, 33, a former coal miner, led the group and boasted of planning an assassination attempt on President Truman. A. E. Walden, 30, remains at large, while Leroy Riley, 32, was recaptured. Bobby Ballance, 21, and Floyd Puckett, 30, were seized in Durham.
MENTIONED IN THIS ARTICLE
Raleigh
State Mental Hospital
Leroy Shadrick
Harry S. Truman
Durham
Orange County
A. E. Walden
Mecklenburg
Leroy Riley
Long Island N.Y
Garner
Bobby Ballance
Lucama
Floyd Puckett
Greensboro
Dow Jones Averages Summary at Noon and Close
The Dow Jones indices show industrials at 497.24 at noon and 455.98 at close, rails at 212.21 noon and 111.17 close, utilities around 182.06 noon and 187.71 close, with total market volume near 940,000 at noon and 1,919,000 at close as reported by Bache & Co.
MENTIONED IN THIS ARTICLE
Bache & Co
Sessoee US
Driver Rammed Hydrant to Avoid Oncoming Cars
Burlington resident Grady Workman 62 of Route 1 rammed his car into a fire hydrant on Ward Street at 5 10 p m to avoid traffic. Damage to the car 300 hydrant 100. Officer Larry W Dula 16 Mangum Avenue charged with failing to yield. Dula’s crash on Pershing Street damaged Goins 26 Asheboro Street.
MENTIONED IN THIS ARTICLE
Burlington
Grady Workman
Route 1
Ward Street
Workman
Larry W. Dula
Mangum Avenue
Dula
Pershing ‘Street
J. D. Goins
Asheboro Street
Pershing
Goins
Higway Patrol
Georgia Leard Lineberger
Mmouth
Gerge Lineberger
Ward
Lineberger
Alcoa FPC License Appeal Leads to Big Upgrades Plan
The FPC ruling approves 1,250 foot FPC Ruling Handed Down reservoir for a 2,560 acre lake backing water to High Rock tail race. Tuckertown dam to generate 40,000 kilowatts as part of a $21.3 million modernization of Badin Plants to keep pace with other aluminum smelters. Original licenses had 40 year terms with a 50 year for Tuckertown. appeal sought uniform 50 year licenses for all facilities.
MENTIONED IN THIS ARTICLE
High Rock
Piedmont
Tuckertown
Commission
Yadkin
Badin
Yadkin Narrows
Yadkinalls
Ross
Alcoa
De Gaulle Pressure Shows Move to Top Government Power
De Gaulle warned French deputies that only decisive action can end the stalemate, stating he would accept exceptional powers under strict conditions but would not permit a dictatorship or subvert liberties. He attacked parties for Algeria unrest and warned the Assembly’s limits if he took control.
MENTIONED IN THIS ARTICLE
Pflimlin
de Gaulle
France
Algeria
Mier
National Assembly
Power Plant Plans For Steady Employment And Supply
Ross said the modernization will be lean with minimal facility expansion and focus on a firmer power source. The project aims to stabilize power supply and sustain steady employment for workers.
MENTIONED IN THIS ARTICLE
Ross
Beeping alarm over Altadena blamed on Caltech power fault
Residents feared a Soviet satellite overhead as beeping sounds pierced the night. The sheriff’s station confirmed intermittent beeps and an investigation found a power failure at Caltech Jet Propulsion Laboratory triggering the facility’s alarm system.
MENTIONED IN THIS ARTICLE
Altadena
Calif
Caltech Jet Propulsion Laboratory
Also Mentioned on This Page
the Texas Co
Union Carbide & Carbon
United Aircraft Corp
Westinghouse Electric Co
Shadrick
Dow-Jones
Wachovia
High Point
Convenient Bank
Ing Services
Ing
FPC
Paris
Algiers
Greyhound’ Union
Lindsay Street
North Main Street
West End
SOUTH
South Main and
Linden Streets
Wachovia Bank and Trust Company
Member
Federal Deposit Insurance Corporation
Federal Reserve System
Bermuda
Harllee’s Youth Center
T.V
Rose
Whisper
Sandlewood
Hunter
Harlee’s
Harlee’s Home Center
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