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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Mar 31, 1963
Page
15
Stocks posted a March advance above the February mid month peak but closed the week with a modest gain. The Dow ended at 682.52, up 4.69 for the week and 19.58 for March, as volume topped four million on two days amid talk of a spring rally.
A choppy weekly stock record lists numerous tickers with high low and last prices. The compilation shows many U S and foreign firms, with percent changes and notes on dividends and ex-distribution statuses.
IRS proposes expense account rules limit tax deductions for wives lacking business purpose while allowing secretary travel as a deductible convention trip. Mortimer Caplin defends home values but notes possible wife deduction if conditions are met and hints at complexities with companions or girl friends.
Senator John McClellan of Arkansas says he will summon Billie Sol Estes for questioning about his farm-aid program promotions and mortgage deals. Estes was convicted on mail fraud counts in El Paso and awaits sentence after appeals while McClellan’s subcommittee prepared last year for further inquiries.
After an all-time January high the Texas business index dipped 4 percent in February though remaining above February 1962. The UT Bureau of Business Research notes 1963 may mirror last year with a boom early, then tapering, while many cities report higher activity vs year ago. Lubbock shows the steepest slide with a 15 percent drop from January.
More than 500 students marched to the U S Consulate in Valencia protesting Kennedy remarks in Costa Rica about Spaniards seeking gold in Central and South America. A window was broken, cameras were seized, and police questioned reporters as Madrid awaited a full consul report.
Eleven men are on trial in Madrid charged with military rebellion and attempting to establish the Communist party in Barcelona. They have been detained since a wave of strikes in Catalonia in 1962. A German firm has set up two chemical plants in Mexico.
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