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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 27, 1947
Page
5
New York August 27 stocks managed selective recoveries though leaders stalled as the session opened slowly. Volume reached about 500000 shares with dividends ignored while Macy rose on a raised quarterly. Puerto Rico Sugar advanced on favorable earnings, Hershey touched a 1947 high but common slipped.
The East Long Beach Lessors Committee announces a 21 member education drive led by former Gov. Frank F. Merriam. The group aims to aid oil development within a 1000 acre area bounded by Junipero Ave to the west, Argonne Ave to the east, Anaheim Blvd to the north, and Broadway to the south, with cooperation from Los Nietos Co. and local residents.
New York August 27 1947 steel stocks and futures report warns that gains in consumer steel demand may lag for months. The Iron Age national paper notes backlogs rise as mills struggle to lift ingot rate above 95 percent capacity. Output for the week was rated at 85 percent.
Market notes show continued rain in the cotton belt delaying movement of new crop and weighing on prices. Futures fell about 1 to 2.29 per bale from the prior close, with quotes around 92.05 in the morning and 80.72 in later hours as traders assess crop prospects and demand.
A compact OCR readout shows mixed investment trust figures and stock-like values. It lists various tickers or funds with prices, percentages, and line items across firms and locations, including Broad St and Wellington, with dates and numerical codes interleaved.
Long, garbled Chicago livestock market report shows hog prices up about two to five cents, with top hogs around 87.60 and 89.00 for various loads. sow and feeder prices listed, plus scattered cattle and lamb notes. Nearby Los Angeles figures mirror mixed hog, cow, and lamb quotations, with general upward pressure on certain grades.
A dense OCR fragment lists bid and ask prices from various firms and securities houses. It references Ken Becursiva, Dialeta Inc, and numerous entities including Frutt Gre, National Association of financials, and Mohawk Petr, with scattered price cues and market names. Data appears incomplete and interspersed with garbled characters.
Treasury release shows combined receipts and expenses with totals around 880 million in receipts and 235 million in expenditures. Notable items include year end receipts and private day adjustments, with miscellaneous balances and credits totaling over 821 million.
Fragmented market notice reports volatile price swings in New York bonds and commodities with references to closing levels, gains and losses, and a top price around 27.60 dollars, noting higher spreads and broad activity across sectors. Names and figures are garbled but indicate a tense trading day and record or near record levels in some items.
Wheat No 2 and corn futures show gains amid broad price increases on the Chicago Board. Reports indicate higher bids and futures activity with prices moving to near intra day highs and market participants noting demand shifts and storage considerations.
Senator William S. Knowland of California will lead a tour for County Board of Supervisors and Army engineers to review pending fluid control projects in Los Angeles County. Stops include Whaiitier Narrows site near the San Gabriel River, sites along the Los Angeles River near Burbank and North Hollywood, and the Westwood Sawtelle Drainage Project.
Probation revoked for Charley Williams a 20 year old mechanic after a November 1946 conviction for illegally operating a date bureau. Superior Judge Leslie KH Sul sentenced Williams to one to five years in San Quentin, to run concurrently with a narcotics sentence from last week. Williams was accused of providing marijuana cigarettes to students.
City Manager Carl B Wirsching weighs a request from the Boys Clubs of Long Beach to use four city owned lots beside 1235 Treaman Ave as a clubhouse site. The project would be financed from club funds per site committee chair Harold Morgan.
Seal Beach named three new councilmen Ross I W Armagast Dr Frank O Brostrom and Emil F Jacobsen to replace recalled members Jacobsen leads with 272 votes while 31 absentee ballots remain to be counted by next Tuesday when votes are canvassed Oliver L Bower trailed with 248 Absentee ballots count due by Tuesday to finalize results Armagast wins short term ending April 1943 Jacobsen and Brostrom take terms ending April 1950
Hmdo Lom en, 2s, pleaded not guilty to assault with a deadly weapon with intent to murder in Superior Court. Trial set for Sept 30. judge denied request to reduce the $2300 bond.
Attorney Paul Harris of Long Beach filed initial incorporation papers with the county clerk in Los Angeles for A General Assembly and Church of the First Born of Long Beach Calif. Directors are Elva Duncan Smith Lyle Emanuel Smith and Daniel Ermil Smith all of Long Beach.
Attorneys questioned prospective jurors for the retrial of Herman L. Neighbors a 24 year old San Pedro pipefitter over a 216000 burglary of a Western Union office in San Pedro On December 16 1945 before Superior Judge Stanley Barnes Neighbors halted proceedings and sought a guilty plea He had been convicted May 2 1946 by a jury but the conviction was reversed on appeal Police testified he admitted helping another man burglarize the Telegraph office and stealing an office safe containing 16000 in cash money orders and checks A probation hearing was set for September 19 by Judge Barnes
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