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Newspaper
Kansas City Star
Location
Kansas City, Missouri, United States of America
Date
Jun 29, 1948
Page
14
Live cattle and hog markets show uneven movement with weaker hogs in Kansas City and Chicago, late-day hog prices near prior peaks, and sales largely steady for slaughter steers and heifers. Cattle receipts include stocker demand and varied beef cow pricing, while sheep markets slip modestly with some lighter lambs and ewes sold.
The Oil and Gas Journal reports a U S weekly crude oil output record of 5 494 450 barrels per day for the week ended June 26 up 3 765 from the prior week Mississippi rose 7 445 to 125 950 barrels Oklahoma up 2 400 to 430 450 Montana 1 400 to 26 430 and the eastern area 1 850 to 67 350 while Kansas 302 600 and Wyoming 144 800 fell from year highs California 949 700 up 200 and Louisiana 469 300 up 50. Texas unchanged.
Commonwealth Edison of Chicago proposes a record five year outlay of 400 million dollars for new utility properties from 1948 to 1952. The plan includes raising about 175 million in capital, with a 50 million dollar first mortgage bond issue due June 1, 1978, offered by competitive bidding. The company will also use about 225 million from depreciation reserves, undistributed earnings, and other funds to pay for the expansion.
The preliminary Dow Jones & Co average figures show mixed movement across industrials rails and utilities with slight shifts noted. Data appears tentative pending revision and includes bootstrapped values across 30 industrials 20 rails and 15 utilities.
The National Association of Securities Dealers inc reports noon trading ranges for local securities with bid and ask prices and dividend rates. Net change reflects Saturday's variation in market values and overall price movement.
A small volume market shows a fairly successful comeback effort as securities trading resumes with modest activity. Investors monitor prices and seek stability after a lull, while traders note cautious optimism amid limited liquidity and gradual demand.
A list of stocks rose while markets showed unusually slow trading. Traders question yesterday's big decline as many names advanced with modest turnover. Santa Fe, Great Northern, Atlantic Coast Line and others led gains amid cautious mood over Berlin and Tito news.
A new advance in the rail group coincides with a small rebound in U S Government bonds after an initial decline. Investor activity shows Singer Manufacturing down 10 points on odd lot sales while Creole Petroleum and McCord Corporation rise.
In New York on June 29 cotton futures showed uneven moves with July under early pressure before a rally as short covering reduced offerings. Futures closed 14 points lower to 8 points higher from the prior close. Spot cotton stood around 37.21 cents per pound.
Today's closing prices of leading stocks and bonds on the exchange are shown, listing the latest figures and market movements for major issues.
Dun and Bradstreet reported 111 business failures in the week ended June 24, up from 100 the prior week and 60 a year ago. The rise was confined to firms with assets of 5 000 or more, but overall failures remained well below prewar levels.
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