Dow Jones Averages London Stocks Up
The Times daily index of London stocks rose to 149.0 points today, lifting market sentiment. Traders noted gains across primary shares as the London market followed optimistic global cues.
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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 11, 1954
Page
21
The Times daily index of London stocks rose to 149.0 points today, lifting market sentiment. Traders noted gains across primary shares as the London market followed optimistic global cues.
The market rose smartly with prices up 1 to 2 points in late afternoon trading. A two day decline was followed by better momentum though volume remained restrained around 1,700,000 shares. Prices steadied after a cautious start on the New York Stock Exchange.
A fragmented market report shows cattle and sheep price movements with steers, heifers, cows, and bulls listed at varying bids. Declines and gains occur across hogs, sows, and mixed lots, with foreign exchange and stock market chatter interwoven in a broad market snapshot.
The 75 year old San Diego bakery owner Samuel Kahn who admitted strangling his wife Elizabeth 71 last Friday leaped to his death head first from a cell block railing. He had been jailed on murder charges after dragging her body to a pool at their Horrego home and making several suicide attempts before arrest. The case prompted discussion of Niagara and St Lawrence hydro projects and state versus private power authorities in New York.
Pilot Clif ford Melvin Hanson of Seattle died when his four place Cessna struck a tree and crashed into a garage in Altadena, north of Los Angeles. Witnesses saw him circle for about 30 minutes before the crash, with no others aboard. The same plane had a forced landing on the Oregon coast earlier, and it was believed his wife and daughter were with him during that incident.
The House voted a one year extension of the President's authority to negotiate trade agreements with foreign nations. The measure passed 281 to 53 and extends the program until June 12, 1955, despite opposition over its impact on American industries. The Senate was unlikely to act before the deadline. The main pending agreement is with Japan and will require tariff terms aligned with other nations.
Los Angeles The Pacific Lighting Gas Co. won state approval for a 1 500 000 increase in wholesale natural gas prices. The company serves Southern California and Southern Counties Gas Cos with 1 870 000 customers. If granted, the rise would raise the average consumer’s yearly bill.
President Eisenhower accepted the resignation of Edward T. Wailes from his post as assistant secretary of state for personnel and administration. Wailes seeks an overseas assignment amid rumors of frustration with duties split with Scott McLeod. He will remain as chief of the bureau of personnel and administration until the committee on personnel reforms is completed.
About 20 RB-36 bombers will depart Travis Air Force Base California for England this weekend in a major training exercise by the 5th Strategic Air Command Reconnaissance Wing. Brig Gen Stanley J Donovan said more than 1,000 officers and airmen will participate, with 550 maintenance personnel already en route on C 124 Globemasters. Col Edward B Broadhurst will command the exercise from Smith Field North Carolina, and a mock strike at an undisclosed target is planned.
Volunteers sought for a 90 day naval aviation course from June 20 to September 18 at the Navy Summer Camp, Naval Air Station Los Alamitos. Youths aged 17 to 18 may qualify by enlisting in the Naval Reserve. Participants receive active duty pay of 234 dollars per month, free uniforms meals lodging medical and dental care. After completion, they join reserve squadrons meeting one weekend per month. Details available from the Aviation Technical Training officer at the Naval Air Station.
Flashes of light over the San Gabriel Mountains sparked police and newspaper inquiries as residents reported unusual aerial lights. Some callers speculated the unexplained phenomenon were flying saucers, with officials noting possible aircraft activity and investigations continuing.
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