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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
May 30, 1953
Page
8
A market summary notes the Dow Jones Industrial Average near 270, with discussion of five months of declines and potential June rally prospects. It highlights oversold conditions, light volume, and possible support from rails, with commentary from Clarence B. Randall of Inland Steel on peace impacts and the economy.
The piece discusses wartime armament cutbacks and how producers retool for civilian markets. It notes large capital investments by companies to expand plants for peacetime needs, and argues the economy remains sound with hopes for peace. It cites potential Korea armistice signs and possible tax changes shaping late year business confidence.
Week of mixed signals sees high industrial output yet concerns on demand. Auto production slows due to parts strikes while steel and appliances push capacity use. hogs and cattle show varied prices with strong demand for native spring lambs and steady to weak trends in cattle and hog futures.
The Treasury set a record high interest rate of 2.383 percent on an $800 million issue of tax anticipation bills. The securities, mainly bought by corporations, are issued for tax payments due shortly and payable in full at face value on September 15.
Herschel Young received a four months to two years prison sentence for perjury in denying he ever represented loan seekers before the Reconstruction Finance Corp. Judge Alexander Holtzoff denied an appeal bond and ordered Young jailed. Meri Young, brother of Herschel and a former examiner for the agency, had also been convicted of perjury.
A daughter was born today at Wuerzburg University Clinic to Archduke Otto von Hapsburg and his 28 year old wife Regina von Saxe Meiningen. It is the couple’s first child since their May 1951 marriage in Nancy France.
The Post Office Department announced rent increases for lock boxes and mail drawers at local post offices starting July 1. The hikes average 33 to 50 percent, the department said, to keep pace with rising costs, noting no changes since 1907 despite higher expenses for equipment, maintenance, and service.
The western headquarters is returned to San Francisco from Los Angeles as part of the Internal Revenue Bureau economy. San Francisco will host the sole district office west of Chicago including Hawaii, with changes aimed at saving $6,000,000 annually.
Puzzle from a filled crossword style page identifies horizontal and vertical clues. It references the Mariana Islands and United States relations, maritime geography, and various wordplay answers across fields like bodies of water, measurements, and historical notes. The grid includes multiple numbered clues such as 59 Observes and 35 Opera, with entries spanning language hints and common terms.
A scrambled puzzle page fragment lists clues and numbers such as 21 Pause 39 Maayan tin 24 Related coin 25 Arrow poison 40 Pardons 26 Indonesians of 42 Thisleland's Mindanso capital ig- 27 Color lightly 43 Sacred bull' 28 Grafled (her.) 44 Tease 1 45 Female horse s a7 Weary. all 48 Indian. 35 Hang 49 Pillars 43 Tine of year S2Fish EBES
Retiring Municipal Court Clerk Con Cady was honored Friday by court attorneys and judges in a ceremony before court. The veteran clerk of 3870 Gurdy Ave Was presented with luggage by fellow clerks and a portable radio by the Long Beach Barn Association. Mrs Cady received a corsage as he served the past 7 years in Judge Martin DeVzies' courtroom.
Mrs Florence Roosevelt narrated Peter and Wolf as the Tokyo Philharmonic performed Sergei Prokofieff music for 2600 Japanese high school children. She is visiting Japan.
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