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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
May 27, 1959
Page
2
The piece argues that Dow Jones is based on 30 blue chip stocks while Standard & Poor uses 425, and AP uses 60, calling for broader coverage to reflect true daily fluctuations. It notes electronic stocks influence today’s averages and urges investors to research individual stocks rather than rely on a single index.
Gov. Edmund G Brown's cigarette and income tax proposals win near-final passage in the California State Senate with a 26 to 10 vote on cigarettes and 26 to 1 on the income tax. The measures, slated to take effect July 1 for the cigarette tax and January 1 for the income tax, would raise about 132.15 million dollars in the first full year. Senator George Miller defended the package, noting the state needs a strong financial base for major projects, while Senator Donald Grensky criticized the bills as irresponsible spending.
Cuban Communist Party Secretary General Blas Roca told an emergency National Committee meeting that Fidel Castro’s anti-Communist campaign endangers revolution unity and risks splitting the movement. He blamed Castro for arming Rightists and Plattists against the Communists during a critical moment.
Gov. Brown signed a bill expanding underage driving penalties to match adult suspensions and revocations. The measure would require that offense records of minors be sent to the State Department of Motor Vehicles, making the process mandatory where previously optional.
Brig. Gen. Tirso Fajardo, Philippine army commander, will depart today for a tour of American bases and installations in the United States at the invitation of Washington officials. The UPI report notes the trip follows an invitation extended by U.S. authorities.
Fragmentary notice from a Long Beach source references a decree involving carrier delivery monthly terms and a person named Beth Lea Anse. details are unclear due to OCR damage but indicate a formal order or contract action with monthly payments and a carrier context.
In Sacramento the California Teachers Assn. is cited as the sole non-professional group able to place initiative measures on the ballot. An expert told the Senate Elections committee there is no other disciplined outfit capable of gathering 420 000 signatures. Morgana Keaton heads one of three firms contracted to petition drives and opposed Assemblyman Brice Allen’s bill to ban payment for petition signatures. Alex warned any bidder with $200 000 could push almost any measure, calling hired signature gatherers a distortion of voters rights. Action on the bill was postponed for a week.
British rain making tests on Salisbury Plain since September 1955 report less rainfall than in prior years. The Meteorological Office used silver iodide seeding and the results show a likely coincidence rather than proven effect.
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