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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jul 11, 1959
Page
7
Market bulletin lists New York stocks and bonds with Cotton, Livestock, and Grains data. Indicates price levels and trading activity across major exchanges with brief summaries of advance or decline by sector. No specific company names provided in readable text.
New York AP report notes a choppy stock market with mixed results as drug names like Merck Pfizer and Schering gain on dining product chatter. The Dow fell and recovered, with the Dow Jones Industrial Average at 663.36. Trading volume hovered around 3.6 million shares as investors weighed gains in pharmaceutical issues against widespread volatility.
A garbled market update notes Dow Jones averages, shifts in utilities, rails, and commodities, with scattered figures and references to international markets and Soviet export topics. The text mentions several index levels and percentage changes, and hints at rail and commodity activity amid overall market movement. It preserves named entities such as Dow Jones, Mexico City, Soviet, and references to various sectors and prices.
Cotton prices closed higher with gains in late trading and short covering in July futures. Traders watched nearby duty contracts and awaiting delivery dates while weather notes kept a cautious outlook for the harvest.
A Dallas jury found Kougene McCinney of Fort Worth not guilty of tax evasion after a federal trial. Judge T. Whitfield Davidson credited the jury and said the case likely involved a civil matter rather than a criminal one. Prosecutors argued $165,000 in income was unreported, but the jury disagreed.
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