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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Nov 06, 1958
Page
2
The stock market surged toward a record as heavy trading pushed major issues higher in early session. Motors steels chemicals and oils led gains while rails rose on news that Class I carrier income in September topped year ago figures for the first time since July 1957. First hour volume reached 1,080,000 shares before profit taking trimmed some gains.
Quotations list bid and ask prices for a wide range of companies and securities led by Gulf Oil General Electric and Union Carbide. Prominent names include American Tobacco The Texas Co. General Motors Dow Chemical and Westinghouse Electric. Figures show bid and ask spreads with many entries in percentages and decimals.
Senate Post Office and Civil Service Olin D. Johnston and Frank Carlson lead. House Agriculture Harold D. Cooley and Charles B. Hoeven take seats. District of Columbia John L. McMillan and James C. Auchincloss announced. Education and Labor Graham Barden and Carroll D. Kearns appointed. Merchant Marine and Fisheries Herbert C. Bonner and Thor C. Tollefson named.
Los Angeles AP Governor Goodwin Knight says his decision to withdraw from the California governor race was justified by his belief that right to work cost Sen. Knowland the governor’s race. Knight, conceding to Clair Engle, claimed he received more votes than Knowland and warned the party about the working peoples issue.
In Norfolk a judge suspended a $10 fine for an 18 year old skin diver who threatened to return to the sea in flippers to fish in a secluded spot. The youth had been cited for a minor fishing violation after anglers felt a tug or lost hooks.
New Congress confronts a 12 billion dollar Treasury deficit amid rising costs and cautious credit. Bankers urge ending deficit spending to curb inflation while warning that controls rarely work, arguing prices reflect fundamental economic forces.
Four engineers seized a four engine Vis count turboprop plane on a 45 minute Miami to Vara dero Beach flight. Eight passengers were allowed to return home after the hijacking. Nine people died when the crew attempted a forced landing.
Farm editor Jack Putman of the Tulsa World suffered a pipe explosion when a .22 caliber shell rolled into his pocket and detonated in his pipe. He was not seriously hurt.
In a personal letter, Boris Pasternak explains his ban by Soviet authorities and his exile concerns. He recalls his Russian birth and loyalty to his country, denies persecution, and says he refused the Nobel Prize voluntarily after recognizing its political impact.
The line attributes to English author George Eliot as she extols animals for their unposed companionship. It notes animals ask no questions or criticisms, presenting a warm view of pet and animal friendship.
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