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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Sep 30, 1962
Page
5
September's pattern returns with Dow below 600 and weekly loss. Dow fell to 578.98 as AP index slipped 5.0, while volume surged to 18.56 million shares. Bond gains paused with government issues up modestly despite earlier August rally.
UAW Local 833 members to vote October 7 in Sheboygan Falls on a one year contract after long strike at Kohler Co. bargaining reps announced a settlement but declined to reveal terms. Government loans to outside workers totaled 9.6 million dollars last year in Mexico City.
Chicago grain markets fell with wheat posting the heaviest losses of the year on the Board of Trade. December wheat dropped to the year’s low, around 1.98 per bushel, while corn oats rye and soybeans showed mixed but modest changes. Trade volume surged to 71.5 million bushels on Thursday amid broader liquidation and short selling.
The Defense Department reported a sharp rise in military spending under the Kennedy administration. It estimated that about 27 billion dollars in defense contracts will be granted next year, signaling a significant economic boost.
Broadway bids farewell to My Fair Lady after 2717 performances dating to its March 1956 opening. The musical's historic run set box office records and boosted sales of cast recordings and related products.
Secretary of State Dean Rusk condemned claims that Communist Vietminh forces are absent in Laos as nonsense. He spoke after a SEATO diplomats luncheon in New York, noting the Geneva pact requires foreign troops to leave by Oct. 7 and announcing U S plans to withdraw military advisers by the deadline.
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