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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Mar 27, 1972
Page
4
On the New York Stock Exchange at 1 P M prices fluctuated across numerous listed companies including Atlas Beckman Bell, Boeing, IBM, Exxon, Motorola, Union Carbide and many others with varied highs and lows. market activity reflects broad readings of buy and hold interest across sectors.
Livestock prices rise and fall across cattle hogs and sows with cows and bulls showing varied gains. Slaughter cows 25.60 to 27.00, canners 22.10 to 23.50, slaughter bulls 27.50 to 30.70, feeders 31.75 to 35.50 for 550 65 lb steers, heifers 42.50 to 43.50 for 300 400 lb, stock cows 22.60 to 26.60, stock cow and calf pairs 300.00 to 361.00 per pair. Hog numbers 1150, borrows and gilts no sales, sows steady 20.00 to 20.50 for 350 500 lb, boars 17.0 for 30 625 lb.
Indiana Senator Vance Hartke quits the Democratic race saying he will devote his energies to nominating and electing Hubert Humphrey. Humphrey notes the endorsement helps in Wisconsin and vows to continue campaigning through the primary.
Moscow reports Tass announced a unmanned Soyuz space probe named Venera-8 launched toward Venus with expected arrival in July. Onboard systems function normally. it aims to descend into Venus atmosphere to perform scientific measurements after reaching the planet’s environs.
Britain and Malta sign a 260 million pact ensuring seven more years of use of air and naval bases on Malta. Prime Minister Dom Mintoff and Lord Carrington announce the agreement, with Malta to receive 36.4 million yearly in base rent, funded by Britain and NATO allies.
A Monday burglary at Cameron Elementary School on Eighth and Harless saw one and a half cases of soft drink bottles missing after intruders broke in through an east side window.
New York stock market edged lower at midday as oils and electronics led declines. The Dow Jones 30 fell 3.01 to 939.27 amid slow trading and little news to spur activity. Oil issues such as Texaco, Royal Dutch, Gulf Oil, Continental Oil, and Jersey Standard weakened, while RCA, Raytheon, Sperry Rand, and Zenith also declined. The AP 60-stock index dropped 1.0 to 335.6 with industrials down 1.4, rails down 0.7, and utilities down 0.3.
The Odessa Jaycees invite candidates for Ector County Independent School District and Permian Junior College system board election. A noon Tuesday question and answer luncheon at Inn of the Golden West will be open to the public.
The piece notes that 30 Dow Jones Industrial stocks drive the index while broader averages reflect the market more fully. It discusses investors shifting from blue chips to speculative stocks, hints at a likely blowoff and possible major decline, and warns the outlook could ripple into politics and personal finances.
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