Prime Rate Cut Moves Amid Nixon Textile Clash
Banks trimmed the prime rate to 5 1/4 percent led by Chase Manhattan New York. Nixon denounced Japan’s voluntary textile import agreement while Mills welcomed it. Casey nomination for SEC chair eyed as Senate recesses. Economists predict modest growth but warn inflation risk remains amid policy.
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Egg and butter prices hold steady in Kansas City
Kansas City AP report shows wholesale eggs unchanged with large 28 to 35, medium 25 to 31 for 80 percent A. Butter also unchanged with grade A pounds at 85 and quarter pounds at 86.
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Market Prices for Grains and Beans Recorded
Grain and bean prices listed include Wheat at 1.37, corn 1.43, milo 2.05, beans 2.85, oats 0.88. Prices reflect a snapshot of crop stalls and market quotes from the period.
Dow Jones Averages Range Shifts Across Industrials and Utilities
The report presents weekly closing ranges for Dow Jones groups. Industrials at 898.12 to 899.44 with last 898.34, Trusts around 202.86 to 200.74 last 202.03, and Utilities near 122.12 to 123.05 last 123.05 show modest gains. Bond averages show mixed moves across sectors, with rails and utilities posting higher highs and lows.
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