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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Dec 25, 1954
Page
4
A market analyst notes a price range around 382 385 for the Dow Jones Industrial Average with a cautious view of January activity. The report predicts a possible 2 percent gain to a 401 405 target, warns of reinvestment pressures, and signals a likely correction in February or March as short interest shifts bearish.
Opponents of President Syngman Rhee form a coalition to organize by early spring and oppose a constitutional amendment allowing more than two terms. Former allies, Liberal Party critics, and several assembly members plan to unite against Rhee amid fears the measure serves one man. The move marks Korea’s sharpest political challenge to Rhee since 1952.
Asahi reports three major Japanese firms Manate Fuji and Japan steel tube will sign a five year contract with the Philippine Iron Mining Co to develop the Lalap mines on Luzon. The plan includes about 1.8 million dollars in Japanese loaned equipment and 500 thousand dollars from the Philippines with completion hoped in 1956. Annual ore output target after development is 1.2 million tons at seven and a half dollars per ton.
Shoppers showed high confidence with the heaviest holiday traffic across major cities. Dun and Bradstreet projected December retail sales near 17 billion dollars, while stocks peaked and steel and auto production rebounded as manufacturers planned record early 1955 car output amid rising living costs.
Milwaukee report says Frederick Miller Sr died in a fiery air crash leaving an estate valued over a million dollars. The will distributes half to his wife Adele and half among seven surviving children Loretta 18 Katherine 15 Carlotta 14 Adele 10 plus Fred Jr and others. Court filings in Waukesha County name the beneficiaries and indicate the petition was filed Friday.
Nationalist commandos conducted a raid eight miles northeast of Quemoy, catching Chinese Reds by surprise. Two prisoners were captured and one wounded seriously left behind. The operation targeted a wharf at Weitai in Fukien Province.
New York obit notes Joseph A Mullaney long serving figure in the Heat and Frost Insulators and Asbestos Workers union. He held positions with the International Association and the State Federation of Labor and served as vice president of New York Bullanos. His career began in 1912 and he died today at age 83.
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