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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jul 29, 1964
Page
6
Stocks slipped as trading opened in New York with a tentative mid-afternoon rally failing to gain momentum. The Dow Jones Industrial Average fell further, closing down after a day of lagging volume and uncertain price shifts.
The Dow Jones Averages eased 0.89 to 218.75 while utilities rose 0.26 to 149.06 and the S P 500 slipped 0.23 to 82.85. Volume fell to 3.86 million shares from 4.09 million, the smallest since June 12. Sunshine Mining led active gainers, RCA and Chrysler also rose, GM and Ford mixed, Pure Oil gained, while steel and other industrials traded lower amid mixed earnings and takeover chatter.
A coalition of 25 Sea land House members from states with Navy yards urged a law requiring the secretary of defense to obtain prior congressional consent before closing diminishing or leasing any of the naval shipyards. The measure would involve the Senate and House Armed Services Committees in advance actions to close phase-out standby or sell yards.
James Campbell and Liridi Isay Garnett named to lead United Crusade’s early drive starting in August. Campbell, branch manager at Foremost Dairies, will organize campaigns in 45 firms across Long Beach, Paramount, Lakewood, and Bellflower. Garnett, an insurance and finance executive and last year’s volunteer of the year, will set up appeals in 251 businesses with over 50 employees each. He earlier led downtown business division efforts and has named 35 group chairmen for commerce and industry.
A forest fire east of Laytonville in Mendocino County burned about 890 acres of timberland. The blaze, which started Monday afternoon east of U S Route 101, was contained Tuesday night by 250 firefighters from state conservation camps. Full control was expected overnight. A forestry spokesman said young stands were burned but damage estimates would come later.
NEW YORK UP I Chairman Roger M Blough of U S Steel Corp said the steel industry has emerged from a low spirits condition and predicted long term growth for the nation s basic commodity He noted first half profits rose to 112242098 and 2 1 2 a share from 103132956 1 67 The June quarter profits fell to 606966 or 1 a share from 73214182 1 23 Blough expressed optimism about the economy and said early July mill bookings were strong He cited normal growth returning and a continuing long term expansion for steel industry
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