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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Oct 06, 1951
Page
4
Wholesale price levels rose for the fifth straight week, with the Associated Press Index climbing to 193.68 from 192.14. All six commodity groups—industrials, food, livestock, grains and textiles, nonferrous metals—posted gains, and the year’s high and low are 215.71 and 189.34 respectively.
Market news from the Federal-State Market News Service covering grain, butter, eggs, poultry prices and retailer quotes. It lists egg carton prices, wholesale ranges, and various weights for hens, turkeys, rabbits, and other poultry, with references to retailers and truckloads.
Pittsburgh Steel and other firms announce dividend news and planned stock actions. Company plans include authorizing new shares, issuing preferred stock, and resuming dividends. Also referenced are Reo Motors and Waite Sewing Machine with related corporate actions and dates.
The Power Commission suspended a proposed 12 percent rate increase by Southern Counties Gas Co. of California Los Angeles for San Diego Gas and Electric Co. The suspension defers any increase until March 5 pending a hearing.
The brief report notes activity in over the counter securities within Yuba County as market trades and pricing fluctuations surface among local investors and firms. No specific firms or figures are provided.
Market activity on the New York Stock Exchange with BI TEW computing tallies for daily trades and price movements across listed equities. Investors gauge early gains amid advancing issues and sector shifts as trading volumes unfold.
In New York today cotton softened with Nearby October under selling pressure while buying support limited. The market traced losses to commission houses amid expectations for an Official crop report showing an increase of about 200000 bales from September. Prices hovered around 53 to 38 dollars per bale with variable session quotes across contracts.
A garbled summary lists earnings figures for multiple firms including Bogie-Picher Co and Jackson Coy with per share amounts around $1.19 to $1.20. Mentions Morgan & Co and incineral months and references to Tron Co and a $6.31 figure. Reading is incomplete with scattered numbers and partial company names.
Members of the United Financial Employees Union staged a Wall Street protest to press for a five and a half day Stock Exchange week returning after a summer break. About 500 demonstrators lined the street, with Actors Equity participants parodying tunes on the theme. The march dissolved as workers headed to their offices for the opening gong.
The Bureau of Labor Statistics reports a 0.3 percent weekly rise driven by farm and fourth price increases. The wholesale price index stands at 177.2 percent of the 1926 average, up 4.7 percent from a year earlier and 12.9 percent above the pre Korea period.
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