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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 19, 1948
Page
20
New York reports signs of shifts in the economic setup as post Labor Day spending rises. Commerce data show rising soft goods inventories and declining bank deposits while a quarter of families spent more than they earned, hinting at installment buying for durable goods.
Chicago Aug 19 livestock market records show price advances on heavy cattle and sheep but weakness on lighter cattle and calves. Slaughter steers and choice heifers posted gains with top beef prices near 41.00. cows and bulls showed mixed to weak trends as volume remained listed around 5000 head.
Livestock buyers in Los Angeles report varied bids across cattle classes. Prices range from 32.00 for heifers to 26.50 for certain stockers. canners and cutters quoted lower, with buyers largely steady and several lots salable but some sections slow.
Federal State Market News notes wholesale egg prices for large medium small cartons with a small rise. Poultry prices show domestic white leghorns and fowls with varying prices by weight, including under 5 pounds and over 5 pounds. Includes details on hauling and dealer sales.
The report lists trading details including bid asks, closing figures, and daily totals for numerous securities. It highlights activity across firms such as Briggs Stratton, Am Can, General Motors, and Philip Morris with various percentage moves and price data.
The record presents bond sale figures and percentage tables for New York curb bases and related securities. It lists rates, maturities, and performance markers across several bonds, including Australia and Canada issues, with daily totals and year over year comparisons.
The International Nickel Co of Canada reports consolidated net profit for the first half rising to 20 235 006 dollars, 1.32 a share, from 16 440 dollars. First-half sales reach 90 990 251 dollars, up from 81 117 834 dollars, with June quarter net income 9 819 391 dollars, 64 cents a share. Hilton Hotels posts six-month net 2 097 127 dollars, 1.20 a share. Household Finance reports 4 689 108 dollars, per common share likely near 1.0. Pet Milk and other firms listed show varying six-month results.
Messy OCR notes list citrus prices by size and type. Lemons and grapefruit Valencias priced per box with various sizes, numbers including 20 and 288s, and small and medium sizes with dollars per unit.
Fragmentary OCR notes show hay price figures and terms across Alfalfa markets with entries like 2.504 and 33.00 to 35.00, suggesting fluctuating prices and state guidance. No clear dates or entities identified.
New York August cotton futures show irregular trade with early losses reversing as short covering and demand from mills and merchants push nearby months higher. July consumption reported at 627,393 bales while prices finish modestly up from the day’s lows in late trading.
The Associated Attest wholesale price trend shows rates today at 187.7 to 188.00 with 188.22 for the month. The data reflects staple price movements and averages for 1926.
Treasury report shows the August 17 1948 expenditures and balances against prior year figures. Figures include US1% bonds, balance totals, and trust fund accounting with various labeled amounts and changes over the previous period.
Markets at a Glance report limited and garbled prices with July figures down sharply and September trend firmer. Trading showed uneven cattle prices with small gains and broader activity in other markets despite legible details being scarce.
Steel shares react to a new continuous casting method announced by Republic Steel and Babcock Wilcox Tube Co. U S Steel Bethlehem and Youngstown Sheet rise while Richer and International Harvester slip. Packard gains on possible capitalization cut. rail revenue up in July.
New York August 19 The Iron Age warns steel consumers face allocations cutting into already tight supplies. If voluntary allocations are approved they could siphon about 600000 tons monthly in Q4, nine percent of current steel shipments. Auto makers and appliance makers worry alloy steel bars will tighten further as military orders rise.
Robert J. Frians of MIT and his brother Walter, a University of Chicago graduate student, gave up their 71 mile hike through Hell's Canyon after reaching Pittsburg Landing Idaho. They planned to go to Whitebird Lewiston then bicycle to the Pacific Ocean with bikes sent ahead.
Washington August 19 Senator Lucas of Illinois proposed a Babe Ruth commemorative stamp to honor the baseball great. He praised Ruth as a national hero and sportsman seeking official tribute in memory of the immortal figure. Lucas notes Ruth supported college baseball with Bloomington in the Three I League.
The International Youth Conference voted to create a permanent International Youth Assembly. The draft charter rejects a veto by any nation and limits representation of populous states to prevent domination. Non UN youth groups may join, with a two-thirds vote for acceptance of Germany Japan Italy and others.
RANGOON Burma Aug 19 the government said it has gained along the front from Mandalay to near Rangoon in a campaign against rebels who tried to storm Rangoon. Government dispatches report Munbu recaptured after a two hour fight with 30 rebels killed and 40 captured with no government casualties.
LOS ANGELES Aug. 19 The Superior Court arraignment of red-haired Margaret Sullivan 40 year old divorcee accused of swindling several business houses of 264000 dollars was set for eo 3 A handsomely dressed plastic box manufacturer was bound over yesterday on 48 counts of grand theft and forgery after a three day preliminary hear in municipal court She remained free on 10000 dollar bail.
Chicago buyers saw a late surge led by September corn against a broadly weak tone. July wheat slipped to fresh seasonal lows while oats and rye posted small gains or losses. cash quotes for various grain grades were distributed with mixed results.
London, Aug 19. The Financial Times index of London stocks rose about 0.3 percent at the open, lifting early trading with gains across sectors.
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