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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 22, 1953
Page
15
The London Stocks Index rose to 117 1 today with gains led by key financial names. Investment activity noted across major firms as traders weighed early market signals in a brisk session.
New York stock market shows strength with railroad shares pacing the advance. Trading momentum softens in afternoon, as several issues retreat from intraday highs. Broad activity remains positive with some leaders advancing.
The opening showed a quiet session with slight gains as rails and oils led early advances. Strong names like Bethlehem Steel Chrysler Goodrich Du Pont Santa Fe and Northern Pacific moved up while bonds were mixed and volume remained light amid mixed industry performance and hopes for a Korean truce boosting sentiment.
Disjointed market notes show egg and butter price movements, foreign exchange, and commodity signals. Mentions Argentina and Britain as rate references with various figures and city trade hints, but details are unclear due to garbled OCR.
A transcription shows volatile cotton prices with reports of declines in some markets and small gains in others. Notes indicate daily trading activity, with December figures and per bale prices varying by location, including references to Texas and Virginia.
Mysterious financial notes mention Reeves Corp and Jmanihe o2 sente ve 73 cents, with a 6 month valuation and a 14 chnis vs 7 cpnlF comparison. N Lieutenant Reeves involved in a machinery coen FRAT scenario.
Stocks advance and bonds hold steady as demand remains cautious. Commodities show mixed signals with beans firm after a rally while wheat eases and corn rallies on weather risks. Local crop notes and harvest progress cited with cautious gains and price ranges across markets.
The Associated Press weighted wholesale price index for 25 commodities edged higher today, led by staples. The index rose to 174.08 after the previous day, with month ago readings showing a higher average and notable activity in staple groups.
Esso Boosts Gas Price in 18 States as company tells dealers the wholesale increase reflects higher production costs. The rise effects Esso regular and “Entral” blends in New York New Jersey Pennsylvania New England Delaware Virginia Maryland and the District of Columbia. Overall wholesale uptick totals 1.8 cents with a prior 2 cent rise announced last week by major oil producers.
California industrial relations director Sydney Seharrenberg notes May factory employment reached the highest level since World War II in the Los Angeles and San Francisco Oakland areas. He cites seasonal layoffs in apparel and aircraft plant employment in Los Angeles, with unemployment 10 percent above prewar levels but down 42,000 from the postwar high of 621,000 in April.
Southern California business activity reached a new high in May according to the Security First National Bank's research department. The bank reported a 14 percent increase in its area business index for May, marking the eleventh peak in ten months and noting a slight decline in April as a factor in the upswing.
The Agriculture Department forecast a 1953 pig crop of 84,226,000 head, down 8 percent from last year. Spring crop at 50,726,000 head fell 10 percent, while fall production was expected at 33,500,000 head, down 5 percent. Spring pigs move to market next fall, and the fall crop will be marketed next spring and summer.
Washington reports the Defense Mobilization Office plans to store executive talent and materials for future emergencies. It envisions rotating top officers, keeping security files current, and recalling experts within 60 to 90 days to advise on defense issues, with industry replacements during absences to ensure continuity.
Gloria De Haven 27 and Martin S Kimmel 37 married Sunday at friends home in Pittsburgh. Rabbi Harold Silver performed the ceremony. The couple planned to depart for New York today for their honeymoon.
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