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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
May 21, 1954
Page
21
The Financial Times reports Friday’s stock action with the Dow Jones indices showing gains in Industrials and Rails while Utilities slip. London stocks advance to a 1954 high at 150.9 as the Financial Times notes a 0.5 point daily rise.
New York the market rose with volume up sharply late afternoon as many stocks advanced. Railroads metals coppers and utilities led gains amid corporate developments while steels showed mixed trading amid wage demand concerns. US government bonds slipped and foreign issues were uneven as traders shifted focus across groups.
Market activity on the New York Stock Exchange closes with daily pricing across key indices and blue chip issues. Traders react to volume shifts and end-of-day totals show modest gains amid mixed sector performance.
Traders watched a volatile session as oats and wheat fluctuated after a government report. July futures for wheat fell slightly while corn and soybeans edged lower or steadied, with Treasury figures providing little direct support amid a cautious tone at the Board of Trade.
A Pravda piece in Moscow accuses the United States of forging documents to prove Russian and Chinese involvement in Korea and Indochina. The report mentions unsettled markets and commodity price movements as part of broader wartime inflationary coverage.
The text notes Pravda denouncing American claims of Soviet involvement in Korea and Indochina, calling US leaders oppressive adventurists and blackmailers. It cites two US government releases alleging Soviet supply to Vietminh and Russian troop involvement, plus Pravda’s charge that the United States manufactures forged documents to justify intervention.
A fragmented market brief reports on dairy and poultry terms from Los Angeles and San Diego areas, noting carton prices, wholesale and retail lists, and varied weights. It mentions brokers, processors, and retailers with references to grocery categories and pricing shifts. The item continues with broader market glimpses from New York and national grain and energy context, highlighting tentative price movements and commodity listings.
Walter Benjamin Ralphs 79 founder of Ralphs Grocery Co died Thursday in Los Angeles of heart trouble and double pneumonia. He established the Southland chain in 1901 with his brother George A Ralphs. Services will be at Forest Lawn.
Five finalists were chosen Thursday night in Lakewood for the Harbor Day title. Contest sponsored by Lakewood Junior Chamber of Commerce. Finalists include Lillian Faulkner Jean Beaulieu Myrna Phil Johnson and Maclyn Johnson. The winner enters Miss California and Miss UniversePageant events and receives gifts from local merchants.
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