Downtick Clouds Wall Street As Bonds Rally Fades
The New York Stock Exchange suffered its worst weekly decline in five months with an estimated 5.828 billion dollar drop in value. The Associated Press average fell 4.70 to 181.40, below the January 1957 high, while long term U.S. government bonds posted historic lows.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Humphrey
Middle East
Defense Department
Wall Street
Associated Press
U.S
Week in Finance Boom Tapering Off But Business Is Quite Well
The 1957 summer expected a soft boom with sales and profits generally strong. Retail cash registers showed higher summer apparel demand while auto output lagged. Prices held, but copper and zinc faced cuts amid overproduction. housing showed signs of pickup with FHA-insured starts and May DHA-backed mortgage activity at highs since 1956.
MENTIONED IN THIS ARTICLE
New York
Buick
Chrysler
Dodge
Desbto
Chase Manhattan Bank
Federal Reserve Board
Federal Housing Administration
FHA
Wheat Futures Rally After Farmers Vote On Quotas
Wheat futures posted the week's strongest advance on the Board of Trade amid farmer approval of 1958 crop quotas. Prices jumped up to 3 cents a bushel with contracts finishing higher across corn oats rye soybeans and even lard. The approval sets the support price at 1.79 a bushel instead of 1.18, boosting bullish sentiment and prompting expectations of hedge selling next week.
MENTIONED IN THIS ARTICLE
Treasury
East Baton Rouge Parish
Chicago
Board of Trade
Lipp to Join Passman Staff in Washington
Marion T Hawk Lipp formerly with the News Star will return to federal service July 1 on U S Representative Otto E Passmans staff Lipp, Winnsboro resident and past Louisiana Press Association president, previously worked for the House and as Passman aide.
MENTIONED IN THIS ARTICLE
Marion T
Hawk) Lipp
The
News-Star
Washington
U S
Otto E. Passman
Lipp
Winnsboro
Louisiana Press Association
House of Representatives
Passman
Nixon warns budget cutters in Plymouth on freedom
Vice President Nixon told budget cutters that no price is too great for freedom during ceremonies honoring the Mayflower voyage in Plymouth Massachusetts. He urged support for foreign aid and defense, warning against waste while stressing sacrifice and patience in diplomacy amid Cold War tensions.
MENTIONED IN THIS ARTICLE
Nixon
U.S. Freedom
Apeymouth
Mass
Upi
Richard M. Ni
Eisenhower
Alan Villiers
Plymouth
England
Budget Cutters
Plymoush Rock
Cotton Futures Fluctuate Across Week on Price Shifts
Cotton futures on the New York Cotton Exchange ranged from 15 cents a bale lower to 2.05 dollars higher as the week ended with most contracts up except nearby July. Secretary Benson signaled a potential boost to the 1957 crop support price, while doubts about new farm price legislation persisted. Domestic consumption and exports for the season were reported by the Exchange Service Bureau with week by week figures.
MENTIONED IN THIS ARTICLE
New York
New York Cotton Exchange
Benson
New York Cotton Exchange Service Bureau
Service Bureau
Monroe Skies Today
Evening sky guide reports Venus and Mars in the west during twilight with Jupiter toward the southwest and Saturn to the southeast. Pollux, brightest star in Gemini, is seen directly above Venus tonight.
MENTIONED IN THIS ARTICLE
Venus
Mars
Jupiter
Saturn
Pollux
Gemini
River Stage Flood Update
River stages rise with a 24 hour reading showing higher water levels and expected further changes. Authorities warn residents near flood zones to monitor gauges and prepare evacuations if conditions worsen.
Auto price tags to rise as fierce competition continues
Detroit July June 22 Auto sales writers note price increases likely every two years due to intense competition and rapid design changes. Ford led with a complete 1957 model revamp, Chevrolet plans a 1958 redesign costing around a quarter billion dollars to regain the No. 1 spot.
MENTIONED IN THIS ARTICLE
Detroit
Ford
Chevrolet
Chevry
Washington debates tax relief amid inflation and growth concerns
Washington officials and economists argue that high federal income and corporate taxes threaten growth and jobs. A bill by Rep. Sadlak would cut taxes to 42 percent over five years, with hearings possible this session.
MENTIONED IN THIS ARTICLE
Washington
Congress
Sadlak
R-Conn
House
Ways and Means Committee
Senate
Defense Department
Department
Byrd
Virginia
Treasury
Secretary of the Treasury
Humphrey
The
Victory Looms For Eisenhower On Foreign Aid Vote
Washington reports the House appears ready to back President Eisenhower on foreign aid totaling 3.864 billion dollars. Most funds, 2.9 billion, would finance military hardware and defense support as committee review continues next week. The Senate previously approved an authorization bill for 3.617 billion, a reduction under 7 percent.
MENTIONED IN THIS ARTICLE
Washington
House
Eisenhower
The
House Foreign Affairs
Mittee
Senate
Monroe District Oil and Gas Output Gains Reported
The Monroe district shows higher oil and gas activity in a weekly state report. Major items include two oilers, one gas well finaled, four abandoned drill sites, four new applications, and 24 active rigs with notable notes on Qua chita parish gas test and Nebo Fee No. 74 as a 123 barrel daily oil producer.
MENTIONED IN THIS ARTICLE
Monroe
State Conservation Department
Arx- la Gas
Quachita Parish
R. K. Butcher
Travis Peak
Cotton Valley
Travis
Nebo Oil Co
Nebo Fee
Olin Gas Trans. Corp
Fee Gas No
Congress Urged To Follow FPC On Canadian Gas Imports
Rep Byrd warns of national security risks and coal region economic impact if Canada gas enters U S markets. Kee says imports would worsen oil and coal harm. FPC hearings cover 20 applications by nine companies for pipelines from Canada to the Midwest and Northeast.
MENTIONED IN THIS ARTICLE
Congress
Washington
Federal Power Commission
FPC
Canada
Rep
Byrd
D-Wva
House
West Virginia
North Dakota
Minnesota
Wisconsin
Great Lakes
Kee
U. S
National Coal Assn
United States
Midwestern Gas Transmission Co
Portland
Tenn
Canadian
Trans- Canada Pipe Line, Ltd
Emerson
Manitoba
Tennessee Gas Transmission
Tennessee
Michigan
Illinois
Indiana
Oil production dip follows Suez fuel spike
Houston June 22 Crude oil output gains spurred by the Suez crisis eight months ago have been wiped out. Texas allowables for July cut daily production by about 390 thousand barrels, pulling July below late March peaks. Foreign imports remained stout with June 7 four week average at 1 459 000 bbl daily.
MENTIONED IN THIS ARTICLE
Houston
United States
Texas
Suez Canal
Railroad Commission
Middle East
Independent Petroleum Assn. of America
House Sponsors Seek Early Vote On Dam Project
House sponsors push for a House vote on the Hells Canyon dam bill after Senate passage 45 to 38. Rep Ullman says July 18 19 dates from Rep Aspinall could block action. sponsors seek earlier hearings to avoid a veto by President Eisenhower. The measure would authorize 500 million dollars for one high dam on the Snake River.
MENTIONED IN THIS ARTICLE
Washington
House
Hells Canyon
Congress
al Ulgiman
D-Ore
Snake River
Pacific Northwest
Senate
House Interior
Wayne N. Aspinall
D-Colo
Aspinall
Ullman
Eisenhower
Idaho Power Co
Also Mentioned on This Page
U.S. Treasury
By Walter Bussewitz
Anaconda
Nevada
Farmerville Bank
N. B. James
Helena Wells
Downsville
Bess Peck
Oakland
William A. Marbury Company, Inc
Ruston
Louisiana
Insurance Company
Pennsylvania
Vallye Willis
the Charles of the Ritz
the Palace
Blanche Gates
News- Star
Indianapolis
Ind
Gates
Khrushchev
Mao Tse Tung
Chou Fin-Lai
Mississippi St. Louis
Memphis
Helena
Vicksburg
Natchez Red
Avr Ldng
Baton Rouge
Donaldsonville
New Orleans
Ouachita Camden
Monroe Black Jonesville
OHIO
Pittsburgh
Cincinnati
Cairo
Arkansas Little Rock
RED Shreveport
Alexandria
VAP Index C
Wholesal Commodities
David J. Wilkie
AP Automotive Editor
James W. Douth
James W. Douthat
Robert F. Roberts, Ayer Timber Co
Killens Ferry
Tensas Parish
Catahoula
Crow Drilling
Coastal
Roy V. Morris
Concordia Clayton Field
Gauthier
Heard W. L. Billups
Miller Et al
Franklin South
Big Creek
Phillips Montgomery
Horseshoe Field
Concordia Parish
Fred
Simmins
Murphy-Sun Tol Ce
J. E. Holt
Franklin Wildcat
J. B. Neble
Tullos - Urania
la Salle Parish
Chicago Mill
Lbr. Co. C. M
L. Ayer Tim, Co
See
Tensas Wildcat
J. A. Harper
Armstrong Et al
South Big Creek
Phillips J. Summers
Ola
J. E. Grandstaff
J. EB. Harris
Air Lift OM Co
Zeizin
Ark Fuel Oil Co
Tremont Lbr. Co
Ouachita Cadeville Field
Atlantic
A. F Golson
Jett Drilling Co
Fisher
Pet. Inc
H. L. Rowley
Stanton No
Pioneer Oil and Gas Co
Vasser and Brown
Butts
Lake Formosa
Fisher Lumber Corp
Union Wildcat
Pan Amer
Pet. Corp
TL. James Co. Inc
Bull Creek
Carter Oil Co
Hicks Cooke Et al
Monroe Field
Olin Gas Trans Corp
Fee Gas
Jin
Foriegn Natural Gas
Suez
By Max B. Skelton
Stan Bagwell
Finance Thrift
Hotel Frances Corner
of Pipe and Steel
M. Kaplan & Son, Inc
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