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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jun 30, 1959
Page
14
New York stocks advanced Mondays with a roughly two billion dollar gain in quoted values and the Dow Jones Industrial Average closing at 613.08, up 2.57 points near a record. Traders cited higher volume and gains across rails, steel and chemical issues with many blue chips posting notable advances.
In New York on Monday U S government bonds held a narrow range with most issues ending near the day’s start. Corporate swings were modest and several names moved lightly including American Machine and Foundry Bethlehem Steel and American Telephone with minor gains and losses.
Joe Cascarella, noted as Laurel race rack executive, led a mixed career path including time in Japan in 1934 with an All Star baseball team. He pitched during the era showcasing athletic versatility.
At a glance wheat prices show a narrow mixed session with gains for some futures and declines for others. Traders cite modest liquidation pressures and erratic activity as investors digest supply and demand signals.
New York AP reports cotton futures closing 15 to 55 cents per bale lower after quiet trading and mixed crop news. IOA purchase authorizations totalling 3.5 million to Italy, 250 thousand to Bolivia, and 295 thousand to the Philippines support limited activity while mills in Memphis buy 1958 crop cotton for July and August shipments amid inquiries stretching to next March.
Fragments indicate an over the counter stock firm named Over-Counter Stocks Inc involved in a private sale. The garbled text mentions a Bident and potentially a person or party named Rauscher, but details and exact actions remain unclear.
At a West Side San Antonio bar Felix Velasquez 34 bought a box contained moccasin for 25 cents to impress friends. The snake bit his left hand and he treated the wound with a razor blade and by sucking out the venom. He remained in good condition at a hospital.
The index reports a mixed closing with Industrials and Utilities up while Rails and Stocks show gains. The Dow Jones and related averages exhibit modest net changes with overall positive momentum in leading sectors.
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