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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 14, 1954
Page
19
Financial Times reports the London Stocks average at 4471, down 1.9 points for the day. The page also shows U.S. market figures with Dow Jones averages and Eiken Ga data, though the figures are partially garbled.
New York stocks closed quietly with late softness as the market fluctuated, showing irregular to soft moves and only partial late-day recovery. Trading was light with about 1.4 million shares and activity on the American Stock Exchange muted amid steady bond activity.
A garbled Los Angeles market page reports butter egg and poultry pricing, stock quotes, and commodities. It references traders, banks, insurers, and various items with scattered figures, including dairy products and livestock prices, amid a broad financial listings section.
Cotton futures in New York declined amid moderate activity as July liquidation weighed on prices. Liverpool quotes slipped while U S export subsidies were dropped as Agriculture Secretary Benson announced no export subsidies. Private crop surveys favored higher yields. In Warwick, Robert C. Daran was charged with driving 80 mph, claiming to drive fast to relax.
A business mirror piece explains how bond market fluctuations influence ordinary people more than stocks. It notes many households notice changes in gas, electric or phone rates after shifts in debt costs, highlighting the hidden daily impact of bond prices on living expenses.
AFL Transportation Union Local 1217 debated accepting a two thirds rejection risk of a contract offer from Los Angeles Transit Lines. The proposal raises top operator wages to 181 per hour with retroactive June 1 and Dec 1 effective increases, while the union seeks 15 cents per hour, and a mortgage-related financial commentary follows on bonds and interest rates.
Soil experts from six drought hit states will meet in Amarillo Texas on Tuesday to discuss long term methods to stop wind erosion. Assistant Secretary of Agriculture Ross Rizley will attend with state farm commissioners expected to represent their states. Colorado Oklahoma New Mexico and Nebraska were invited amid improvements in drought conditions across the region.
U S Steel and the CIO United Steelworkers reopened 1954 contract negotiations in Pittsburgh with committees reduced to 14 from about 80. Vice President John A. Stephens led the U S Steel team as talks neared the final offering stage. The union pressed for wage increases and gains in hospitalization pensions and related changes, while not naming a price tag publicly.
Western Shrine Association delegates from the western states and Hawaii closed a three day convention in San Francisco with a ground breaking ceremony for two new wings at the Shriners Children's Hospital. John D. McGilvray, 75, a veteran in the hospital movement, turned the first spadeful of dirt. The wings will expand surgical and clinical facilities at the hospital, with a total cost of 250000 dollars.
Las Vegas deputies solved a jail cell wine ring when stakeout footage showed Stanley Weber of Oxnard California approaching a ground-level window, whispering to inmates and passing up a hose attached to a gallon jug of sherry. Weber admitted earning 450 dollars yesterday selling two bottles to prisoners.
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