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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Feb 08, 1954
Page
17
The London market summary notes modest gains and losses across major shares in 1953-54 trading. Industrials hovered near session highs while other groups displayed varied performance with several stock quotes, highs and lows listed for the day.
In a volatile session, RKO common stock led activity, opening around 34 and climbing near 35 as 200,000 shares traded. Cattle and hogs markets showed mixed direction with steady to higher prices for select items amid overall trend.
The market showed a sudden REO jump on Hughes board chairman Hon ard Hughes bid to buy all the company’s wafers at 85 a share. Big board volume neared 2 million, with Boeing and United Aircraft in demand while steels and chemicals eased. American stock listings moved as government bonds held highs. foreign exchange showed mixed moves across European and Canadian currencies.
A scrambled New York market report indicates a modest uptick at opening amid mill buying and export activity. Prices later slipped, and contracts across March to July eased. Ongoing hedging and farmer activity influenced near term movement as Germany’s $2 million authorization to buy rose, with no strong buyer interest apparent.
Los Angeles lawyer Harold Los Angeles succeeds W. T. Gilbert as head of the 3000-member County Bar Association. He will be installed at the monthly meeting February 1.
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