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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 13, 1965
Page
2
National stocks show irregular moves with profit taking. bonds steady. Chicago grain and livestock prices fall or hold with top hogs at 25.00 and slaughter steers near 27.60, while Baltimore reports light cattle trade and steady hogs, and Frederick lists grain and livestock prices alongside auction results.
A government report showing larger than expected soybeans and corn harvests pushed futures down on the Board of Trade. All five corn contracts hit seasonal lows, while soybeans and wheat futures fell with oats and rye also generally weaker.
Trading favored low priced issues dominate the session with volume at 9.48 million shares amid Columbus Day semi-holiday. The Dow fell 1.53 to 94.12 after a 209 point morning gain, while 581 advances and 585 declines occurred among 1,392 issues on the NYSE. New yearly highs reached 30 and lows 15 as electronics and other low priced stocks led, prompting a broker’s comment on weak leadership.
The AP average of 60 stocks slipped 0.4 to 347.8 with industrials and utilities down. The S&P 500 at 91.35 eased 0.02 as Ampex led activity rising 1 percent to 26 on 414,400 shares. Bond trading was higher while Treasury dealers were closed for Columbus Day. The Southeastern Conference’s first commissioner was Martin S Conner, Mississippi governor from 1940 to 1947.
State Farm Insurance announces three promotions at its Seaboard regional office in Frederick. A Bernard Bowles and William E. Boynton will teach in the claim representative school, while David Marshall heads the new Monthly Pay Plan Department in the accounting office. Bowles, a North Carolina native, graduated from the University of Virginia and joined State Farm in 1952. Boynton began in Toronto in 1953 after attending Toronto Teachers College and the University of Toronto. Marshall, from Charlottesville, joined in 1954, with Ernest R Peden and other accounting managers training in Bloomington. The Monthly Pay Plan aims to serve policyholders seeking that option.
The program expects to graduate 200 claimsmen in 1966. Training covers automobile policies uninsured motorist coverage homeowners policies property damage investigations and measurement. In addition to classroom duties Boynton and Bowles will serve as staff consultants to the Seaboard office and its operating divisions.
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