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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
May 25, 1963
Page
5
Lagging late in the session, steels paced a minor market decline amid a day of mixed trading. Production rises, with talks on steel labor agreement and a congressional probe into sugar prices affecting sentiment. Airlines and aircraft shares led gains, while utilities and oils also rose.
Mixed trading on the New York Stock Exchange and bond markets with corporate gains, uneven government bids, and a volatile cotton futures scene. Notable activity includes over-the-counter quotes, transfers among funds, and price shifts across several major issuers and sectors.
Cattle and hogs saw active trade with 5,500 head moved and mixed 1 3 grades up to 17 for lighter weights. Cattle weakened slightly with choice and prime at 24 25 and heifer numbers tight. hogs sold around 25 and sheep activity minimal amid a totals run near 31 509 head. Jamaica and Argentina agree to establish diplomatic relations and ambassadors.
U S Treasury bonds closed the week with a sharp downbeat as speculation grows that the Federal Reserve Board may tighten credit. Some long term issues fell 10 to 32 points, while near maturities lost less. Corporate bonds edged higher and NYSE turnover rose to 5.46 million par value from 4.76 million.
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