Pacific Coast Exchange Trusts disputed over import duties
The report notes Dawson and Kingman objecting to an import formula. It mentions petroleum production declining while need increases and predicts greater domestic reliance on Canadian output.
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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
May 06, 1961
Page
5
The report notes Dawson and Kingman objecting to an import formula. It mentions petroleum production declining while need increases and predicts greater domestic reliance on Canadian output.
An OCR dense list shows a chaotic catalog of securities dealers, firms, and bid pieces with numerous names, numbers, and fragments. The text mentions National Association and various company names, hints of transactions, and mixed references to brokers and securities, but lacks coherent events or clear outcomes.
Space age stocks rose after America's first manned space flight success, with gains easing as profit-taking set in. The broader market was spotty, Dow slipped, S&P 500 and Nasdaq edged higher. McDonnell Aircraft led, Fairchild Engine and Sehnley Industries also active amid mixed volumes.
The market shows varied activity with 12 grades of beef cattle and many head sold near steady values. No slaughter steer sales reported. sheep and cows listed with prices, including commercial and dairy cows. Several figures and names appear, highlighting limited demand and lingering uncertainty in the trade.
Fragmentary text mentions Hay Market Los Angeles and various unreadable items. It lists times, counts of items such as flour and cereal, and includes scattered numbers and names that are not clearly connected to a single event or story.
New York market report lists Forman exchange rates for major currencies and futures. Figures include British pound at 178.64, U.S. dollar for precious metals and other commodities, with miscellaneous figures for Belgium, Germany, Sweden, Norway, and Latin America. The data reflects interbank quotations and regional currency listings amid ongoing trading.
The Federal Market News Service reports on orange sales and market activity in Los Angeles. Gunmen were noted in connection with a related shipment incident, with officials assessing impact on fruit trade and supply chains.
Salinas area contract covers 150 to 200 field workers with 1.20 to 1.25 hourly minimums. Bud Antle Inc. farms 2,600 acres in Imperial Valley and 4,000 in Salinas Valley. Teamsters negotiate for remaining 800 workers and support use of Mexican braceros for sterner jobs if needed. Bud Hobbs foresees inevitable unionization of field hands.
The government tightens on sharp dealers amid the stock scramble. SEC actions reflect a tougher attitude, with two new appointees driving stricter rules. Kerry and Gerard Resheild face immediate expulsion from the securities business for market manipulation and other wrongdoings.
Markets at a glance show a rally in New York as several major equities advance. Irregular trading and mixed signals across sectors create cautious optimism for investors heading into the next session, with some firms reporting gains while others slip on renewed volatility.
Washington reports the Civil Aeronautics Board approved National Airlines plan to sell 400000 Pan American World Airways common shares to the public at market price. Pan Am to dispose 440000 long term shares. underwriting led by Merrill Lynch & Co with a mutual understanding to provide for the loan. Sale expected in summer at about 200 dollars per share. fair commission stock exchange cited at 1.15 dollars per share.
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