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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jan 28, 1955
Page
15
New York reports the stock market advancing in a moderate fashion with aircraft, steel, and railroad shares showing the strongest late in the afternoon. Several stocks moved widely in either direction, but overall gains ran from a modest to mid-range level.
Farm goods saw volatile trading as cattle and hogs moved, with quotes like 15.80 and 16.00 noted. Steel shares rose after Bethlehem’s inaction on a stock split, while rails attracted buyers. Bonds shifted as the Treasury issued new 40-year 3 percent notes and 10-year 3 1/4s faced price adjustments.
The Associated Press summary of today’s stock activity shows declines across many listings on the American Stock Exchange. Investors moved to trim positions as energy and industrials weighed on the close while some names held steadier in late trading.
Report shows daily stock indices with closes and highs and lows. Data lines include the Dow Jones averages and industry subindexes with figures around 404.68 close and 279.84 high, reflecting market activity for Friday in the 1954-55 period.
The Federal Market News Service notes steady grapefruit and oranges in the Coachella Valley area with prices near 2.00 to 2.07 for different lots. Lemons show unchanged prices.
A garbled market report notes irregularities in cotton and staple prices with limited readability. It references moving futures in May and July, daily price shifts from 13 to 80 cents, and a weighted wholesale price index rising to 195 with day and week figures, and various unidentified figures and acronyms.
John La Fayette Dion 93 a Long Beach resident since 1913 will be buried at Sunnyside Cemetery after a Holton and Son chapel service Saturday at 2 p.m. Reuben Luther Anderson will officiate. He died Wednesday after a long illness. He was born in Michigan and lived in Pasadena Manhattan before moving to Long Beach. He and wife Nancy celebrated their anniversary April 14, 1954. Surviving are wife Nancy two sons J Ellis of Pasadena and Mitchell JQ of Long Beach a daughter Mrs Richard H Sherrard of Long Beach seven grandchildren and a great grandchild.
William Richard Powell aged 58, longtime advertising and public relations executive, was elected chairman of the Los Angeles Newspaper Publishers Association. Powell, of Covina, has 52 years in Los Angeles journalism, succeeds Floyd W. Maxwell who retired due to illness.
A typographical error in a Thursday Press Telegram and Friday Independent ad misstated Old Forester bourbon pricing. The corrected figures are 52.11 per half pint and 4.10 per pint.
Three motion pictures including a cattle documentary will be shown twice tonight at Municipal Art Center 2300 E Ocean Blvd under sponsorship by the Art Center and Long Beach Public Library. Subjects are Private Life of the Cat The Idyl and Object Session which won the grand prix at Venice 1930. Free admission. Showings at 7 PM and 9 PM.
James Edz erton, vice president of the Los Angeles Stock Exchange, was found dead in a room on South Grand Ave Los Angeles. Police said he apparently died of natural causes.
Readable fragments indicate hay pricing notes and market terms though details are unclear. Mentions No. 2 hay, nominal rates, and quantities but lacks complete figures or location names to confirm specifics.
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