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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 22, 1954
Page
17
Financial pages report the London Stock Exchange index up by a small margin, with shares subdued but gaining. The Tuesday close reflects modest improvement amid no major market shifts, as investors flag cautious trading patterns in London equities.
New York stocks advanced modestly in heavy trading led by gains in motors and other industrials despite strong selling in tobacco shares after a report linked smoking to cancer and heart disease. Packard and Studebaker merger news and a broad mix in the bond market also influenced activity.
The New York Stock Exchange reports today's closing prices across listed stocks. Traders watched gains in several blue chips while technology shares showed mixed movement amid market volatility.
Reports from Chicago show wheat and soybeans trading with modest gains and losses amid a volatile grain market. Prices for soybeans eased due to weaker demand in some bids while other grains remained volatile on agricultural outlooks.
The Los Angeles market news notes steady paneer and calf prices with mixed signals across items. Traders report apples and citrus holding despite volatility while dairy and beef sectors show cautious movement.
A cluttered mid century market page notes government policy shifts and stock movements. It highlights declines in wheat and grain prices alongside Treasury and stock market figures, mentioning Eisenhower seeking congressional funding for a stockpile program and strategic material purchases to reduce foreign dependence.
Packard shaved five points in a tight race as recent figures show a narrow margin of victory. Local teams and observers noted the decisive late surge by Packard in a gripping finish.
Washington reports the Senate approved HR 8488 by Rep. Craig Hosmer, aiming to fund veterans benefits for widows of American servicemen and prompting ALPA and pilots to consider a strike vote against United Air Lines Trans World and American Airlines. The measure, tied to airline wage and job rules, could affect a third of the nation’s pilots if a strike occurs.
Cotton market notes pilots from three airlines report eight hour fatigue limits and protests over discharge threats. Traders weigh demand for prompt shipment as private crop purveyors show cautious optimism amid fluctuating prices and evolving fatigue policies.
The New Britain CT board of education reverses a ban on graduation parties for ninth grade students while prohibiting tuxedoes and evening gowns at school events.
Fragmented OCR reads list of funds and securities with numbers and dates, mentioning Natcons, Aberceen, MutualFa, Petroleum, and bonds. It hints at earnings prospects and holding periods with figures like 3.08, 5.55, 15.47, 13.93, and 4.19, but the text is garbled and lacks coherent events.
The Municipal Band presents a concert on Tuesday at 7 00 with a lineup conducted by Charles Forsyne and assistant La Barre. Program notes list pieces and a march, with parade music and a soloist featured during the event.
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