Stock Mart Shows Continued Rally Despite Heavy Trading
The 1961 market extended its rally as investors took profits, with the Dow below the August peak but rising. Trading volume reached 4.84 million shares, the biggest turnover since Dec. 30, while 1,281 issues changed hands. Industrials gained amid strength in rails and steels, with Consolidated Edison and several major names among the most active.
MENTIONED IN THIS ARTICLE
ED Morse
NEW York
Associated Press
Eo Fe
Singh
Alice
Roel
Ie Hansen
Uesday
Reval
Pushirt
Nara
Ohio
Steels and Bigl
Raglan
Amd
Fae
Bell
Jan & Transactions
Ma- Am
Screpniar
General Am
Girt Ag
Westinghouse
Goa
Ehsa
Oven Press
Seel
Gaviar
Dow Jones
Waukesna
Suga
Ang Pao
Ermavr
Consolidated
Edison
Baeth
Suuard Gas
Ant
Bae
Ah Bunah
New Jersey
Alee
Nak
le Bureau
Ling-Temco
Ryder Syztem Fel
Harriott Johnson
Procter & Gumble
Celplex
Collins Kedin
Margin reduction proposal stirs New York Stock Exchange
Keith Funston proposes cutting margin requirements from 70 percent to 50 percent to finance stock purchases. The change would allow a $10,000 market value buyer to post $5,000 cash and borrow $5,000, instead of $7,000 cash and $3,000 borrow. Market reactions mixed as traders weigh liquidity against risk.
MENTIONED IN THIS ARTICLE
Toledo, Ohin
Keith Funston
New York Stock Exchange
Earnings Up Last Quarter for American Telephone & Telegraph
New York reports AT&T Bell System earnings for the final quarter of fiscal 1960 rose 10 percent to 321.84 million dollars or 1.40 dollars per share. Net income for three months ending Nov 20 topped the prior three quarters. The annual stockholders meeting will be April 9 at McCormick Place Chicago marking a 75 year precedent.
MENTIONED IN THIS ARTICLE
New York
American Telephone &Telegraph Co
Bell System
New York City
McCormich Place Exposition Center
Chicago Lake Front
Roseli
California Federal Savings posts record 1960 dividend total
Donald Flypay of the Lakewood office said the 1960 dividend totaled 19.86 million dollars, including a 5.23 million fourth quarter payment on December 31. He added it was the highest ever paid among the nation’s federal savings associations, benefiting Lakewood and Artesia families with savings accounts.
MENTIONED IN THIS ARTICLE
Lakewood
Artesia
California
Federal Savings
Donald Flypay
Flypan
Morton & Co opens Downey office with new resident manager
B C Morton and Company announces a Downey office at 10751 Lakewood Boulevard with Howard Eugene Alloway named resident manager. The investment firm operates 78 offices in 35 states and will handle mutual funds savings and loan placements and bank time deposits per board chairman Morten W. Galdberg.
MENTIONED IN THIS ARTICLE
B. C Morton & Co
Downey
Howard Eugene Alloway
Morten W. Galdberg
Lakewood Bivi
Mituil
Alloway
Community Savings and Loan Declares 73rd Interest Payment
Rex A. Dunn reported that Community Savings and Loan Association paid its 73rd consecutive interest on December 28 to over 27 000 individuals trusts and corporations. The 1960 resource gain boosted assets to a new high of 64 million dollars.
MENTIONED IN THIS ARTICLE
Community Savings and Loan Association
Rex A. Dunn
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Hope
Chichfield
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Herior
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Texiton
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Meeruy
Itik
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Caleman Engine
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Eee
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Correscondina Dal Nea Ea al Jam
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Allentic Ave
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Storck Exchange
Hogle
LSU Tse
A. Hogle & CO
Taabien
New Hort
Eychance
Otter
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