14 Apr 1962
Page 16
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Newspaper
Monroe Morning World
Location
Monroe, Louisiana, United States of America
Date
Apr 14, 1962
Page
16
A note credits Merrill Lynch Pierce Fenner Smith Inc with courtesy at the American Stock Exchange. The brief item lists the brokerage for a client transaction or market service acknowledgment. No further details are provided in the accessible text.
AP reports New York stock sales with figures for Friday near 3.47 million, previous day 3.32 million, week 2.73 million, month 3.06 million, year 5.24 million. Cumulative closed to date shows 246.71 million this year and 217.53 million since 1960.
Cotton futures closed modestly lower to higher as early buying faded and liquidation trimmed gains. May contracts faced first notice day looming April 24 while total certif ied stocks rose to 74,748 bales with 900 more awaiting certification. Spot cotton in New Orleans held steady with middling around 33.75 to 34.45 cents per pound and overall southern market prices showing little change.
Idaho russets sell at 3.80 to 3.85 per unit while Minnesota North Dakota Red River Valley round reds fetch 2.25 to 2.45. Florida round reds start at 1.90. Potatoes noted in USDA AP report from Chicago.
Markets at a Glance reports mixed stocks with early losses trimmed and bonds higher. Cotton shows irregular liquidation and buying by commission houses. In Chicago wheat is mostly strong on exports and short covering, corn and oats weak on liquidation, soybeans mixed with nearby months strong, hogs steady to 25 cents lower, top $17, and cattle slaughter steers absent.
Associated Press market notes show cattle receipts 126 and hogs 289 with slaughter, stocker, and feeder price ranges. Broiler and fryer prices paid for 254 3 lbs mostly 14 0 cents, hens and eggs listed by grade and size with case prices.
Dow Jones industrials end at 687.90 up 2.23 with gains in the 30 stock average. Rails fall slightly while utilities dip. total stock transactions run around 527,700. Bonds edge up as rails and utilities show modest increases. the commodity futures index sits at 146.94.
The Navy grants Pratt & Whitney a 57.27 million contract for J57 and JT3D jet engines to be produced in East Hartford, Connecticut for Air Force use, with the Bureau of Naval Weapons handling the purchase. Zapata Offshore plans a radical floating drilling vessel capable of 600 foot depths, scheduled for completion July 1 and under contract to CATC including Continental Oil, Atlantic Refining, Tidewater, and Cities Service.
Chicago AP dispatch notes butter steady at 93 score AA 57 percent, grade 92 A 57 44, 90 B S642, 89 C S42. Eggs shift from 70 percent or better grade A whites to mixed 32 and mediums 29 with standards 30 and dirties 29. Checks 12844 indicate trading activity.
J M Nicholson announces Easter holiday closures for Northeast Louisiana State College. Students and faculty depart at noon Wednesday April 18 with classes resuming 8 am Tuesday April 24. Dormitories dining hall infirmary switchboard mail service and offices have specified closure and reopening times.
Ruston special report says Louisiana Tech will stage South Pacific this July through the Opera Workshop division. Dr. Marshall Bretz announces Education 729 for grad students earning one credit in musical production. Mrs. Mary Elaine Wallace leads the workshop with James G. Smith assisting. undergrads may earn credit via participation.
Fourth U.S. Army inspectors from Ft. Sam Houston Texas rated the Northeast State ROTC unit highly after a Thursday examination. Col. William F. Due Lt. Col. Daniel P. MacDonald and Capt. Robert D. MecGar led the review praising administrative efficiency and cadet appearance. Cadet Col Larry Demon led the battle group in the final review and conference with college president Dr. George T. Walker.
Nearby soy bean and most wheat futures rose on the Chicago Board of Trade while corn oats and rye fell. Trade was active after a slow start with total U S grain handled possibly surpassing 96.6 million bushels. May prices varied with modest gains in soybeans and wheat and losses in corn and oats.
The butcher hog market was mostly steady to weak on Friday with weights over 230 pounds selling 25 cents lower. Mixed No 1 and 2 i grades 190-225 pounds went at 16.75 to 17, and 180-230 pound mixed 13 grades at 16 to 16.75. Heavier hogs fell to 15.25 and sows 12.50 to 15. No cattle sales of slaughter steers, heifers, vealers or bulls were reported. Sheep offerings were too few to test prices.
New York stocks rallied from early lows as Inland Steel refused price boosts, lifting the market. US Steel trimmed losses, Bethlehem rose, Dow up 2.28 to 687.90 amid a day of uneven gains and higher volume. AP index up while rails slipped.
Louisiana Tech will host an all district high school band May 4 and 5 with musicians auditioned today at Neville High School Monroe. Milton Bush of Martin-Behrman High New Orleans directs. Final concert by district band at 7 30 p.m May 5 in Howard Auditorium.
London AP reports an official medical history shows British Army casualties averaged 95 per 1000 monthly in World War I from 1914 to 1918, versus 44.8 per 1000 per month in 1944-45 after D Day. The study cites tactical differences as the main reason.
Two professors and 34 Northeast State students visited the Federal Reserve Bank and the International Trade Mart in New Orleans this week. Attendees included assistant professor Littleton W. Simpson and associate professor Thomas R. McCann along with a long list of students such as Jackie Black William Bobo E L Christian Carolyn Crowe Robert Fava Billy Gammel Elliot Goldman and others.
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