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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 13, 1954
Page
21
Financial note lists Dow Jones Averages and U S utilities figures as of 2 p m in New York with values shown for major indices and a London Stocks Average reading from The Financial Times. The report notes slight changes and annotates sector totals across utilities and industrials.
The New York Stock Exchange reports today's closing prices across major listings. Traders watched key indices as gains and losses emerged, with volume reflecting ongoing market activity and sector shifts influencing closing levels.
A broad mix of gains and losses persisted on the New York stock market with late-session moves around a two-point spread. Oils led with notable gains while aircrafts, steels, utilities, air lines, and sal equipments lagged. rail trails and motors showed intermittent strength. Trading slowed to about two and a half million shares with irregular price movements and no clear selling pressure.
The Federal State Market News Service reports grain prices steady with some fruits higher. Orange markets show varied spot prices and standard cartons listed. California oranges trend up in spots while other commodities and related prices include metals, fuels, and consumer products with mixed earnings and stock items referenced.
Market notes cover livestock prices with steers, heifers, cows, bulls, and sheep across weights and classes, noting salable head, top prices, and regional demand. Cotton market details include New York trading, price ranges, and drought damage reports, plus a Treasury cash position update and a brief House committee action on an administration measure.
New York observers note political effects in economic talk as psychological nudges aim to reassure business and consumer confidence. The mid year report scrutinized, with data showing steady employment and mixed consumer demand, prompting plans to expand and place orders.
Brief note reports congressional action offering a reward related to detecting an atomic bomb. The item mentions a grant or incentive program and references congressional proceedings or committee consideration. No specific dates or credited individuals are provided in the legible text.
Markets at a Glance notes trading mixed as government and regulatory actions influence sentiment. Wheat prices show firmer prospects amid weather and demand signals, with further commentary on livestock and metals markets.
Typhoon winds over Okinawa were reported at more than 100 miles per hour as RCA messages from Okinawa said the center of the storm would strike the island about 1 p.m. Saturday Long Beach time. The wind velocity was continuing to build, with radio messages predicting the peak arrival.
Escondido expected to have a record avocado crop in 1954 55, predicted by Al Kuck county production manager at Calave packing house. Processing of the 1953 54 crop nears completion and the new forecast doubles the current yield. Keuhl cited an all time effort for Escondido.
Local rainstorm sent waters several feet deep between Castle Rock and Sedalia, halting traffic on the Santa Fe railroad and forcing highway detours. Two passenger trains from Pueblo and the Rio Grande three eight were delayed for hours at Castle Rock while autos were rerouted on U S 87.
In Punta Arenas the port lay strewn with wreckage after a three day storm. Ten small slips were blown onto the beach as frigid winds and high waves from the Strait of Magellan lashed rain and snow. Marine Air Reserves began fourteen days of training at El Toro with 22 squadrons totaling 2,400 men under Brig. Gen. Frank H. Lamson-Sernsbet.
A tall thin gunman entered 1023 Avalon Blvd liquor store late Thursday night, brandished a pistol, and stole 58 dollars from proprietor Daniel Murphy before fleeing on foot. Police are investigating the Wilmington incident and reviewing store security.
Weather disruptions delayed three Southern Pacific passenger trains between Tucson and Los Angeles by two to five hours. Trains were forced to detour as an SP spokesman said, affecting service Thursday.
A two engine B C 2 Bes bomber from Shaw AFB crashed during takeoff at Davis Monthan causing a fire and injuring six of the seven crew. Witnesses said the right landing gear was retracted as it lifted, causing the craft to skid 2500 feet before bursting into flames. none of the crew were killed.
Peng Meng-chi, 47, named acting chief of general staff of Nationalist China's army in Formosa by President Chiang Kai-shek. He succeeds the late Gen River Yun-ching, who died of a heart attack. Peng previously served as deputy chief for staff after a 1949 role and headed the Formosa Peace Preservation corps.
State unemployment claims fell by 15 percent in Los Angeles as a round-up of undocumented workers freed seasonal jobs for legal residents. Kenneth F. Temple of the U S Immigration Service said the operation, though controversial, opened up farm and industrial positions for locals. Estimated weekly cost savings reach about 325000 dollars.
Two men were hospitalized after a two-vehicle crash at Smeltzer and Cannery Roads between Midway City and Ocean View at about 4 50 p m Thursday. Leo Kurt Petzold 41 of 1662 Bay View Ir Sunset Beach sustained major injuries when his car overturned Homer W Packard 41 of 2014 Woodland Pl Santa Ana had a back injury.
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