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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Dec 14, 1963
Page
6
New York stocks edged higher on Friday with light trading as investors reacted to corporate gains and mergers. The market advanced for the first time in six sessions, with gains led by rails, steel, electronics and drugs despite a caution from regulators over recent railroad incidents.
The Dow Jones averages moved higher in uneven trade as investors weighed mixed signals from industry data and earnings. Traders watched the 52-week highs and declines while the closing tick indicated cautious momentum in a volatile session.
AP reports New York bonds declined for the third session with losses limited to point or less. Corporate trades on the NYSE were mixed with heavy rail activity. Volume reached $8 million par value. Long term Treasuries fell 2,422 with some longest issues at new 196% lows. intermediates mostly down 132 or 232. a few shortest maturities unchanged.
Prices for cotton futures firmed with gains in March and May contracts as buyers credited mission house and New Orleans sources. Market steady on loan and market forces easing near term demand concerns.
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