Dow Jones Averages Fall as Markets Open
A jagged early session shows the Dow Jones Industrial Average slipping amid mixed trading. Key indices show declines across several components while traders gauge inflation signals and corporate results.
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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Dec 30, 1950
Page
4
A jagged early session shows the Dow Jones Industrial Average slipping amid mixed trading. Key indices show declines across several components while traders gauge inflation signals and corporate results.
A mixed day in New York stocks saw oils textiles and rails attract demand amid a narrow price drift. Gains and losses mostly under $1, with heavy turnover around 1.5 million shares as year end adjustments linger. Strong support for Standard Oil Gulf Oil American Broadcasting Wyandotte and Missouri Pacific preferred while Bethlehem Steel and General Motors slipped. Boston & Maine jumped 1.75 to 4.25 with fresh backing for its debt plan and new common stock issuance.
The Associated Press wholesale commodity index closed 1950 at a year high after 11 straight weekly gains. The index stood at 207.64, up from 205.60 the prior week and 160.07 a year earlier, with all six groups advancing except foods. The base index, 1936 equals 100, and the spring high near 1950 was reached in most categories.
Pioneer Savings and Loan Association announces a regular semiannual dividend of 3 percent on all savings accounts for the six months ending December 31. President Robert R. Sprague notes added reserves and undivided profits, with resources now over 25 million dollars, up from 20 million a year ago. Offices operate in Los Angeles Long Beach Santa Monica and Huntington Park.
New Year’s Day sees closures across US financial markets with commodity exchanges also shut. The New York stock and card exchanges stay open for year end trading, while Canadian and London markets follow different holiday schedules.
Livestock prices at Chicago include hogs steady amid strong demand from buyers and a week of mixed receipts. Cattle sell at best prices on Tuesday, with high loads reaching $40.00 and wooled lambs rising, while sows and barrows post gains and overall market activity reflects post holiday shifts and storm-related interruptions.
Federal State Market News Service reports butter prices for Grade A and related dairy values in Los Angeles on December 20. It notes fluctuating egg prices and outlines poultry and live stock quotations, with data from buyers and sellers across regional markets.
The report outlines foreign bonds including Antog 37S,ja and Canada T4061, with yields and prices. It lists railway and railroad securities, global fund bids, and major U.S. and international issuers, alongside vessel movements and port statuses as of early today.
Long Beach Lifeguards report tides and water temps for Sunday December 31. Sunrise is 6 58 a m sunset 4 54 p m moonrise at midnight. last quarter at 9 11 p m. High tides at 2 30 a m 1 40 p m 43 ft 35 ft low at 8 38 a m 9 13 p m 10 ft water 53 degrees and surf calm.
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