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Newspaper
Kansas City Star
Location
Kansas City, Missouri, United States of America
Date
Jun 07, 1960
Page
18
Sylvia Porter reports that the average American family or individual now enjoys higher real income before and after taxes, with purchasing power matching 1947 and 1929 levels. The piece cites Department of Commerce figures showing rising shares in higher income brackets and a growing middle class amid post war economic growth.
Atlantic City June 7 The home heating market offers major growth for electric utilities says Thomas G Ayers of Commonwealth Edison He cites projects showing 4 million electrically heated homes by 1970 up from 600000 today Nearly half of last year's residential electricity could go to these homes Volume of sales could rise six to sevenfold in a decade He also notes strong potential in commercial industrial and institutional sectors Air conditioner adoption stands at about 7 percent of homes using electricity
New York June 7 AP stocks gained on heavy trading as the Dow Jones index cleared a formidable resistance zone of 636 to 638. Gains spread across motors rails chemicals and oils while retailers reported strong auto sales. The Dow up 5.53 at noon to 642.45 and the Associated Press average rose 1.40 to 220.20.
The National Paperboard Association reports May 1959 orders averaged 322000 tons weekly, up from 313000 tons in April and 315000 tons in May. The figures reflect ongoing strong demand for paperboard products in the year so far.
Railroads log mixed grain arrivals in Kansas City with wheat and soybeans among the totals. Reports show declines in wheat and corn stocks, while overall grain receipts and carload movements are tracked across several markets and timeframes.
Prices for millfeeds moved lower with bulk middlings at 75 cents a ton and other feeds down 50 cents. Listed per ton prices include bran at 33.50 to 34.25 in sack, bulk bran 28.50 to 29, oats 64.50, ground barley 59 to 60, ground oats 64.50, soy meal 56.70, cottonseed meal 6.60, linseed meal 60 to 61.20, gluten feed 35, dehydrated alfalfa meal 38, molasses 24 in cars, scraps 50 percent protein, tankage 60 percent digester.
Chicago June 7 AP market summary shows egg receipts at 700 cases with varied prices by grade and weight, butter receipts at 1,938,000 pounds and quoted prices per pound, and USDA grade 1 roasters and fryers prices noted. Several price lines indicate minor changes or stability in most categories and a broader market tone of steady or unchanged quotes.
Prices of the more active New York Stock Exchange issues as reported by the Associated Press. A complete closing list will appear in later editions. The OCR text lists numerous securities with bid and offer figures, including Merck, Chrysler, Motorola, IBM, Sperry Rand, and many others, reflecting market activity and cross references to ex-dividend statuses and corporate actions.
Potatoes in Kansas City show carlot arrivals and sales with prices listed. Figures include cwt prices for U S No 1 and washed varieties, with per car details and total carlots mentioned.
Treasury data lists cash balance and debt figures for June 2 and fiscal year totals. It compares current year and previous year, noting the total debt at June 2 and debt from a year earlier. The report reflects statutory limit considerations.
Advance notices outline salable cattle and hog estimates for upcoming sale. Officials warn buyers to prepare for a brisk market as numbers circulate from local barns and auction houses.
A long list of produce prices and suppliers shows peppers, onions, greens, cabbage, apples, melons, and other items by crate, dozen, or bag. Regional sources include Florida, California, Texas, Arizona, and Louisiana with per-unit costs and crate sizes listed.
Wheat futures closed largely unchanged with slight declines in Chicago and gains for distant months amid hedge pressure and light trade. Corn showed narrow moves with mixed commercial interest. Cotton futures were mixed after opening with prices from 10 cents lower to 10 cents higher. Iron ore shipments on the Great Lakes fell in May 1960 from a year earlier in total gross tons.
Aluminum prices fell one to two cents in the Kansas City junk market for the week ending Monday while other scrap prices held steady. The report lists varying values for metals including tin at 15 cents, copper 15 to 19 cents, brass 10 to 14 cents, auto radiators 12 cents, and iron products around 45 to 75 cents per unit, with paper and rags noted as low or free of rugs for sale.
Spot nonferrous metals quoted with copper at 33 cents per pound in Connecticut valley and 12 cents for other grades. Zinc listed in New York cents per pound. Tin in East St. Louis at 1 dollar per pound. Silver in New York at 91 1/2 cents per troy ounce.
Exchange of Kansas City banks through the clearing house today totaled 75.1 million dollars, versus 119.6 million a week earlier and 75.9 million a year ago.
Hog prices eased 25 to 50 cents amid light trading and a heavy 6 000 head run. Top hogs hit 17 dollars for 215 pound meat types, with most 190 to 240 pound offerings at 16 to 16 50. Sheep held steady with high grades at 22 to 23 75 and lambs at 23 50. Cattle mostly near yesterday's close with steers 24 50 to 26 and heifers up to 26 25.
Ryan Aeronautical announced six months ending April 31 net sales of 51 039 813 up 37 from the prior year 36 248 777. Net earnings fell from 1 154 229 to 881 010 but full year results are forecast to compare favorably with 2 812 656. Secon(d) quarter income reached 633 377 or 39 cents a share, more than double the first quarter 15 cents.
Tulsa AP report says Texas boosted daily crude oil output by 2 855 barrels to 6 820 405 barrels in the last week, helping offset declines by other regions.
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