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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jul 19, 1952
Page
5
Paul H McGregor with E A Muster Co notes new 21 year rail high at 102.91 and industrials at 276.76 on July 1. He argues the market moved to profit taking despite highs and suggests cautious, selective buying as institutions adjust to a softer pullback and steel strike uncertainty.
Navy ships in port are large buyers of saurid. The rise in these stocks outpaces many others as Sound common stocks offer inflation hedge and strong income. Casual observers see the stock type favored by big buyers as the gains leaders, while mediocre low-priced issues lag or shrink.
SAN FRANCISCO July 19. MeL Stanley Brown a Gardena cardroom partner is feared murdered after disappearing April 17 in the Bay Area. Charles F Berta 50 a San Francisco bartender and ex train robber was jailed for 60 days for contempt of court for refusing to answer grand jury questions about Browns case. The grand jury probes a multi million dollar heroin ring linked to Irving Wexler. Brown and Berta were cellmates at Leavenworth in the 1920s for mail robbery and their connection to the current inquiry remains undisclosed. Berta posted 300 bail pending appeal.
Thick fog in Greenland fjords forced two Military Air Transport Service helicopters to delay their 4000 mile flight from the United States to Germany. The delay occurred at Narsarsuaq base as landing there proved impossible. the craft already landed at Goose Bay on the prior leg from Presque Isle Maine, making the Greenland hop the longest segment of the crossing.
Receipts were moderate with hogs and cattle trading steady to higher. Slaughter cows and bulls mostly steady to $1.50 higher, hogs up with light and heavy weights differing by size, and sheep and lambs showing gains amid steady shipping demand. buyers remained active though some holdovers persisted into the week.
The week kept the economy near danger as the steel strike idled millions and hampered arms production. Some plants reopened for July activity, but demand remained weak with reduced mill operations and rising idle labor in steel and related industries. News notes included wage talks, price shifts, and a shift in stock market hours.
MUNSAN Korea July 19 Western news reports say Korean armistice negotiators held their 12th straight secret session with no progress on prisoner exchange. A new session was set for 11 a m tomorrow as observers sense the talks may end soon despite no official comment. General Nuckols of UN command refused to discuss atmosphere or potential termination of secrecy.
A 22-year-old Long Beach woman Mery Louise Rhodes escaped from three men after they allegedly attempted to assault her on Los Alamitos Boulevard north of Seventh Street. A motorist Ray Schneider found her near the location and drove her to the Norwalk sheriff's station. She was moving from Long Beach to San Diego and had accepted a ride from the three suspects before escaping into an open field.
New York reports a light week for wholesale prices with general declines in grain quotations pulling the index lower. The index stands at 184.15, down from 184.30 last week and 194.31 a year ago, with industrial, food, livestock and textile groups rising while grains and cotton reached new year-to-date lows.
Washington July 19 Pt President Truman signed legislation allowing states to withhold state income taxes from federal employees pay Military pay is exempt Experts note only Vermont Oregon Alaska and Hawaii maintain withholding systems at present
Grain markets report fluctuating hay prices with barley and oat figures. Prices shown include 35.00 and 33.00 for various lots, with oats at 7.50 and 35.00 for different top grades. The text is a partial OCR listing prices and lot numbers with limited context.
Fragmented report lists butter eggs and poultry pricing by grade, with references to Grade AA and various product types. Mentions retailers and consumer prices, including broilers and fryers, amid garbled OCR data and unclear figures.
Markets at a Glance notes mixed activity with a land expert buyer and fluctuating prices. Datsea Beybeans-atranganorl shows coverage, Catte-Normally cheady remains weak while Bogs-Norielly steady.
Four Bakersfield area residents were killed when their small airplane crashed on a runway near Henrys Lake in eastern Idaho as it prepared to land. The victims were Herschel Wilcoxen, 40, general contractor. his wife, about 40. George Van Atta, 41, of Shafter. and Lee Morrison, 18, Bakersfield.
An electric magnesium furnace explosion at Sequoia Metal Craft plant in Redwood City caused one death and 39 injuries. A welder Harold Estes died later from burns. Fire and FBI investigations followed as workers escaped amid a shower of sparks and collapsing buildings.
Helsinki Finland July 39. United Nations Secretary General Trygve Lie said he can call an extraordinary General Assembly meeting within a fort night if the Korean truce talks succeed. He noted few know what is happening in Korea beyond the talks participants and had previously predicted peace could come by late July or early August. Lie arrived as the USN’s official representative for the Olympic Games opening today.
NEW YORK July 19 A turbulent chapter in Colonial Airlines history closed as directors voted to sell the company to Captain Eddie Rickenbacker s Eastern Airlines. By unanimous vote the Colonial board accepted an offer to acquire assets on the basis of two Eastern shares for each three Colonial shares, following factional splits among shareholders amid bids from Eastern and National Airlines.
Police hunted two teenage escapees from the Preston School of Industry in Ione. Identified by assistant superintendent Lyle Egan, the pair are Donald Stratton, 16, of Eureka, and Richard Kreling, 18, of Stanislaus County. Stratton was sent for grand theft on June 9. Kreling has been confined since May for attempted burglary.
In Quito on July 19 the Supreme Electoral Tribunal proclaimed Dr Jose Maria Velasco Ibarra as president elect after final vote counts from the June 1 election. He will take office September 1 succeeding President Galo Plaza. Velasco Ibarra, an independent liberal, won 153,924 votes to 123,186 for Conservative Raparto Alarcon.
A converted Navy landing ship called LeTourneau's Ark set sail from Vicksburg toward Liberia, Liberia with 26 technical missionaries and heavy earthmoving gear. Backed by Robert G LeTourneau and approved by the State Department, the venture aims to build villages and roads while teaching modern farming and Christian faith.
Boston July 19 State police Massachusetts and New Hampshire joined the FBI in a search for two Kansas bank robbers linked to the shooting murder of Massachusetts State Trooper Alfie M Savela in Barre One suspect Gerhard Arthur Puff 48 formerly of Milwaukee Wis and George Arthur Meroux 22 formerly of Worcester Mass and Providence R I are among the nations 10 most wanted They were tied to the Nov 23 1951 robbery of the Johnston County National Bank and Trust Company of Prairie Village Kan with over 62000 in cash Am Ex travelers checks and government bonds Also linked to the Savela killing Puff used the alias G A Cunningham and was identified by Massachusetts police in Nov 1953 as involved in the case. The other suspect Heroux was identified in Nov 1953 as wanted for questioning in Savela slaying. Police say the pair are armed and dangerous. The hunt shifted to New England after a burned car was found in Hopkinton N H with identifying marks removed. The car was traced to Puff. For classified ads call 6066.
EL PASO Texas July 18 EPI Take Erlich the Friendly Giant known as Jack Earle who stood eight foot seven inches died last night in an El Paso hotel Friends said he was 47 years old He rose from a 14 year old ordinary boy to a circus attraction with Ringling Brothers and Barnum Bailey He later worked as a sales representative in the west coast and was beloved for visiting children s wards and crippled hospitals in San Francisco He also did dairy tales on a west coast radio station and gained reputation as a poet and photographer
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