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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jun 14, 1959
Page
4
AP reports a major shift as Chicago meat packing firms including Wilson & Co plan to cease slaughtering in the city within weeks. The move ends Chicago's long standing title hog butcher for the world as the companies relocate operations and the industry reshapes the local meat trade.
The June wheat crop report was seen as a dud by most traders, with mixed effects on futures. Oats and rye led gains in Chicago and Fort Worth markets, while soybeans and corn showed minor movements. Chicago stockyards show continued activity despite plant shutdowns, with about 25 packers still operating and Swift and Armour maintaining purchasing here.
Dow Jones closing ranges show declines across sectors with the index down 0.96 points. Rails fall 0.97, utilities slip 0.97 and stocks drop 1.21 as the market ends lower.
London AP report notes The Guardian and Daily Herald questioning why Queen Elizabeth II invited Billy Graham for tea, calling it an unusual public honor. It says Graham and his wife tea with the Queen and Prince Philip after his Australia tour, while Anglican ministers Huddleston and Scott were not invited due to political implications.
AP dispatch summarizes weekly hog cattle and sheep market results. Hogs ranged 14.30 to 17.65 at Chicago with various grades and weights. Cattle saw high prime slaughter steer prices around 31.50 and strong prime heifers 28.50 to 30.00. Sheep had no sales in Chicago. spring lambs brought 25.00 to 27.00 with Good to utility grades 23.00 to 25.00. Fort Worth notes lower hogs and variable cattle prices. Kansas City reports mixed prices for calves yearlings and feeder lambs with top figures around 38.00 for some cattle and varied feeder lamb values.
In Phoenix AP reports teacher Otto Lue nine at Barnard College and Columbia warns Americans are buried under sound from media. He cites popular tunes and background music and criticizes overcommercial recordings. Divers in Singapore recover six live World War I torpedoes as Nevil Shute notes a century of growth and regulatory caution.
Stock market ended the week with a 22 cent per share drop and the worst one day decline since May 7, while the week showed modest gains in steel and aluminum issues. The industrial average slid 1.63 points, rails fell 6.65, and utilities dropped 3.16 as volume posted new lows. analysts cited government bond yield concerns and ongoing wage talks before a potential steel strike as factors shaping the week.
A boy picked up in an alley behind Fenner Tubbs Co. at 1302 10th St. was released to his parents after counseling from juvenile officers. He had told police he was considering a break in to test his ability to get away. The youth was taken in at 1 am and released following police guidance.
Washington AP Stevenson says he is not a contender for a third Democratic presidential nomination in 1960 and will not be nominated He will help the party in 1960 and urges new directions He avoids answering about a draft or endorsing any candidate and says he has no present intention to do so
A group of Lower Rio Grande Valley Texans recounts firing ten rockets in 1936 to carry 300 envelopes each across the Rio Grande to Reynosa and back. The event, approved by U.S. postal officials and supported by the McAllen American Legion, raised funds for a new building and drew inquiries from stamp collectors worldwide.
On this date June 14 1959 the Almanac notes the moon in first quarter and lists notable events including 1775 US Army founding 1777 Stars and Stripes flag 1811 Harriet Beecher Stowe birth and 1940 Paris fall. Liners delayed Colombo strike halts and Malaya ruler Abdul Rahman set for Pakistan tour in Oct and Karachi on Nov 1.
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