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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jan 05, 1961
Page
14
New York stocks rose sharply led by industrials and rails on Wednesday. The AP stock average climbed to 722.60 and the Dow Jones industrials to 621.49 as volume reached about 284 million shares. New highs for 1960 totaled two with five new lows, reflecting broad market strength.
U.S. Government bonds edged higher on Wednesday with corporate issues showing mixed results. Utilities and top grade bonds closed firm while rails and industrials were uneven as volume rose on the New York Stock Exchange.
New York AP reports cotton futures closed 15 cents per bale lower to 7 cents higher amid mixed demand. Traders noted hedge selling pressured current crop months while other contracts showed modest gains.
The Organization of American States approved new economic penalties on the Dominican Republic after hours of debate. The embargo targets petroleum products trucks and truck parts with a 141 to 6 vote in favor, the Dominican Republic itself abstaining. Other nations accuse the DR of meddling in internal affairs as regional tensions rise.
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