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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
May 13, 1955
Page
27
Financial brief notes the Dow Jones averages show a higher finish with the industrials and rails among notable movers. Prices fluctuation appears across sectors, with the close near 419.57 and 430.64 high and 388.20 low, reflecting varied performance in the market session.
New York traders saw a quiet recovery after a sharp decline as major issues edged higher on light volume. Allied Chemical led gainers with others like American Telephone, U S Steel, Boeing, Parke Davis, and Monsanto rising on news of a three for one stock split while several issues slipped in thin trading on the American Stock Exchange.
The State Division of Highways asked eastbound motorists on the San Bernardino and Santa Ana freeways to detour between Alameda Street and Mission Road today Monday and Tuesday. Sighting standards are being installed and the bridge widened in the area. Eastbound traffic will be limited to two lanes from 9:30 a.m. to 3 p.m. on weekdays.
Livestock market results show mixed cattle and hog prices in Chicago. Hogs sold mainly steady to firm with some declines for lower grades, while cows and bulls traded softer to steady. Lambs and mutton weaker on light demand, with careful buyer activity noted in several lots.
A compact report of today’s NYSE trade action highlights closing prices across major stocks. The market finished with varied gains and losses as investors weighed corporate results and economic signals.
AP reports Chicago grain trading mixed as rain forecasts weigh on corn and oats. Soybeans hit a yearly low around 32.00 to 53.09, while wheat prices fell on profit taking and weak demand amid late session selling.
The market steadied as near term trades shifted, with gains in interpool cotton futures amid expectations for cover and ongoing hedging. Analysts note fading prospects for U S cotton exports next season while futures show modest upturns on renewed buying as traders price in risk and demand shifts.
Sirus Market in Los Angeles reports on fruit prices and market conditions including oranges and Sunkist Growers figures. The reading lists various prices, grades, and rate notes with supplier and regional references, reflecting mid century wholesale trading context.
New York UPs report high employment and consumer income boosting retail sales this week. Dun & Bradstreet notes 3 to 7 percent higher sales than the comparable week last year with regional gains from the Pacific Coast to the Southwest. Weather boosted demand for lightweight apparel. men and boys bought hats suits shirts while women bought shoes and dresses.
Fragmentary stock report from Los Angeles shows mixed activity with minor gains and notable price swings. Incomplete figures hint at several listed firms and trading totals around the daily window, reflecting a volatile session across sectors.
The Associated Press reports a wholesale price index near 3.0 with a rise of 1.71 points from yesterday and 1.75 from the prior day. Details show weekly and monthly movements with varied hay and bale prices noted amid market activity.
In Superior Court, writer Margaret Vassall sues her 70-year-old ex for half the proceeds of a collapsible table he claims to own entirely. She says she helped promote it and was promised half, while he alleges she seeks money after a broken romance. Letters cited by the inventor were read, including poetic sentiments Mrs. Vassall dismissed as meaningless.
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