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This newspaper page contains 8 articles. Subscribers can read the full text of each article.
Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 05, 1959
Page
2
New York GM and Du Pont led a mixed market after a court ruling left Du Pont with 63 million GM shares but voting rights to public holders. Early gains faded for some major names while GM held about a two point rise and Du Pont rose over three. Rails oils and utilities fell. Industrial average rose solidly.
A financial wire notes Dow Jones averages with figures cited as 1,190,080 and 1,190,000, alongside other totals including 10,000 and 70,000 in the record.
Investor interest surges in U S Treasury bonds with yields around 4 percent or more. Treasury issues trade on the market like corporate bonds, unlike savings bonds E and G series which are not transferable.
Soviet news agency Tass describes a big satellite capable of landing and supporting other launches as Britain’s Jodrell Bank detects signals from the station minutes after Moscow’s telegram pinpointed its position. Prof Massey notes the Soviets will study outer space radiation belts and charged particles during the mission. Y K Fedorov says a full moon orbit study will come later from another rocket timed to orbit.
The union challenges a two year wage plan near ten cents an hour with labor cost estimates. Management proposed to apply an average June rate of $3.11 for steel workers but only a few of 31 classifications would reach that level, leaving most workers far from the government estimate.
The piece explains bond pricing and yields from 1 to 3 percent with discounts to par. It notes long term capital gains on 1 percent bonds due 1963 and compares to shorter issues. It also lists sources like Standard & Poor's Moody's and Fitch for company records and explains non assessable shares as investor risk.
The article describes a tight British election race with Labour gains due to a vigorous grass roots campaign and promises of tax cuts and higher old age pensions. It notes polls showing Labour closing the gap, Conservative optimism, and sharp rhetoric from Gaitskell accusing the Tories of snobbery and colonial past.
President Eisenhower says Khrushchev agreed no fixed time limit for West Berlin talks and duress was withdrawn. Prime Minister Macmillan signals a high level summit may occur, while Hagerty notes no agreement until allies respond, notably De Gaulle, delaying U.S. statements.
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