Pacific Stars And Stripes Newspaper Archives Jan 6 1967, Page 13

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Pacific Stars and Stripes (Newspaper) - January 6, 1967, Tokyo, Japan Ing Stock prices new York the Stock Market staged a late rally and higher trading was Active in the Clos ing minutes As prices recovered from a slow the Market was mixed at the then headed reaching its Low for the Day in Early thereafter it Cut 1967 Standard and poors 500 Stock Index close change 425 industrials up 25 railroads up 50 utilities up 500 stocks up wow Jones Stock averages open High Low close change 30 industrials 20 railroads j 15 utilities i 65 stocks new York Stock Exchange Index Market up 8 Index up Industrial up transportation up Utility up finance american Stock Exchange Index High Low close change up Dow Jones commodity Index open High Low close change off be up up up up the Dow Jones spot commodity Price Index declined to 27 closing quotations compiled from a and Ufi act kinds 38 air reduction Alcan Allied chemical Allied stores 23 Allied supermarkets 11 Allia Chalmers 22 Alcoa 75 air line 38 broadcast Para 85 can Cyan amid foreign pow Home prod machine Fly Metal Climax motors natural Gas photocopy smelt ref South african sugar Tel Tel tobacco Ampex Anaconda Aramco Armour 47 80 17 75 14 4314 7 6 33 24 54 32 23 80 48 32 Gen electric Gen foods Gen instr Germilla Gen motors in Telephone Gen tire Getty Oil hidden Goodrich Goodyear 3reat Northern Grumman aircraft Ulf Oil Lammond Organ Hilton hotels top of 28 Atlantic refining 85 Avo corp 23 Bath Iron works 32 Beatrice foods 49 beechnut life Saver 45 Bell Howell 54 Bendix 37 beneficial Fin 39 banquet 2 Bethlehem steel 31 Blaw 26 Boeing 66 Borden 30 Borg Warner 38 Borman foods Brunswick Burlington Indus Burroughs 85 Cal 27 Campbell soup 28 Canadian brew 6 Canadian Pac Rwy 52 Carrier corp 76 20 Caterpillar trac 34 48 Cento inst 36 Chase Manhattan by 62 Chesapeake Ohio 62 Chrysler 33 29 45 17 87 28 60 26 86 47 26 50 17 32 41 69 46 807 34 45 20 23 69 c i t financial cities service Cluett Peabody coca cola Colgate palmolive lbs Columbia Gas Columbia combustion eng commercial credit Commonwealth de cons cd consolidated de Continental can Continental Oil Corn products Corning Glass Crane Crown Zellerbach pan River Mills Zayco corp Deere Delaware Hudson 31 Iamond Alkali 32 Iamond Natl corp 36 distil sea 31 Douglas aircraft 45 Dow chemical 60 Dresser Indus 29 Dupont 150 Duquesne Light 31 Eastern air 79 Eastman Kodak 128 Eaton mfg 24 electric storage b 48 Elpaso Natl Gas 18 Emerson electric 60 Fairchild camera 112 family finance 20 Ferro corp 26 fibreboard paper 26 Firestone t r 45 Ford motor 41 Gen dynamics 48 89 Republic steel Revlon Rexall 47 Reynolds metals 604 68 45 32 jb2 si94 48 c4 58 if 30 49 41 68 35 26 81 62 14 41 15 42 37 48 61 40 i4 74 75 12 37 lome stake mining 64 Idaho Power 88 Ingersoll Rand 39 Inland steel inter chem corp 28 ism 3g5 into Harvester 34 into Nickel 85 into paper 2ii into Tel Tel 74 Johns Manville 47 tones Laughlin 48 Kaiser aluminium 40 pkg per Light 38 Kennicott Copper 38 Kern country land 59 Kimberly Clark Libby Owens Ford Myers Ink Belt Lily Tulip Litton in dust Lockheed air Lione Star Cement Lorillard Lowenstein Macy Magna Vox Marathon Oil marshal Field Marine Midland Martin Marietta Mcdermott Mcdonnell air Mcgraw Hill Merck mesabi Trust Mem Minn mining mfg 78 Mission corp 93 Mission develop 86 Mobil Oil 45 Monsanto chemical 40 Montgomery Ward 21 Moore Mccormick 17 Motorola 92 Nat biscuit 47 Nat Cash Register 68 Nat Dairy prod 34 Nat distillers 39 Nat Lead b5 Nat steel 42 new York Central 68 Norfolk Western 98 North am aviation 49 Northwest airlines 114 okla Nat Gas 19 Olin Mathieson 58 Otis elevator 37 Owens 53 Oxford paper 17 Pacific Gas elec 36 Pacific t t 22 pan am airways 53 Parke Davis 26 Peabody c 41 pc Salt chem 44 Penney 54 Pennsylvania or 68 Pepsi cola 69 Pfizer 69 Phelps Trodge 66 Philip Morris 34 Philips petrol 50 Pillsbury 34 Pitney Bowes 47 Pittsburgh Glass 54 Polaroid 160jx Procter Gamble 69 publicker Indus 6 puget up 33 Pullman 45 Oats 56 Ria com 44 Raybe Stos b4 bid Raythelon 51 14 Pacific stars stripes 1967 Reynolds tobacco Rheem Mig 41 46 25 49 35 23 Royal dutch petrol 34 Safeway stores St Regis paper 27 Schenley 33 Schering 54 Scott paper 27 Sears Roebuck 44 Shell Oil Sheraton corp s Sinclair Singer mfg 46 Kline for 51 South puerto Rico 23 Southern 29 Southern Natl Gas 32 Southern Pacific 28 Southern railway 43 Sperry Rand 29 Square d 19 Standard brands 34 stand Oil Cal 60 stand Oil ind 47 stand Oil 62 stand Oil Ohio 67 stand packaging Syz Sterling drug 38 Sto Elyvan Camp Stone Webster 54 Studebaker Packard Sunshine mining Swift 30 Tennessee Gas 48 69 Texas Gulf Sulphur 102 Texas instruments 101 text Ron 50 Thi Okol Tidewater Oil Timken Roll Bear Twa Tri cont try inc Twenty Cen Fox ump ind Union Carbide Unilever Ltd Unilever Union Cal Union Pacific United air lines United aircraft United fruit United Gas us Borax us Gypsum us Indus us lines us rubber us smelt ref in us steel us tobacco Upjohn Hiram Walworth Wainer Bros Warner Lambert 37 Western Union Tel 38 Westinghouse Brake 31 Westinghouse elec 47 Wilson 60 win Dixie stores 32 Woolworth 19 Xerox up 206 Zenith radio american Stock Exchange Atlas Consol 25 philippine Telephone 7 Bank stocks Bank of America bid 55 asked chemical Bank 45 bid 45 asked 33 78 22v3 45 33 13 49 17 23 50 37 58 80 27 47 24 67 14 46 40 26 65 26 8 St first Nat Boston 58 bid 59 asked first Nat City 55 bid 55 asked Morgan guaranty 89 bid 89 asked overt counter Sony 17 bid 18 asked Toshiba 9 bid 11 asked Honda 14 bid 16 asked Nippon electric 15 bid 16 asked Mitsubishi 24 bid asked Kansas Denroku 18 bid 19 asked Mitsui Bussan 8 bid 9 asked Hitachi 19 bid 20 Tokio Keijo 21 bid 23 asked its As the rebound got go it attracted More some of the Early Selling was attributed to those who had bought in anticipation of a yearned rally and been deciding to dump their Washington reports that presi Dent Johnson had decided to ask for an increase in the supplementary defense budget made a tax increase seem More Likely and prompted further brokers the late was said to be mainly volume was million shares compared with million tues in issues were of 627 510 declined and 247 remained in there were 7 new highs for 196667 and 16 new the Dow Jones Industrial aver age Rose to the associated press average of 60 stocks Rose to with industrials up rails up and utilities up Gulf Western industries was the most Active up at other Active issues were Sperry up control up general off off pan american world up Texas Gulf up Fairchild Cam unchanged at item up and Alcan alumni off on the american Stock sex sales totalled million compared with Mil lion shares in 787 issues were of 318 264 declined and 205 remained there were 2 new highs for 1966 67 and 10 new United control was the most Active up at Active issues were Krupp Kaiser up up Sperry Rand up and Silicon off Standard of Boss Otto president of Standard Oil of California for the past six has been named Board chairman and chief executive he succeeds Owin who re a giant merger signed in London a one of the biggest takeover deals in British business history has been signed Between the British Petroleum and the giant distillers a whisky chemicals manufacturing distillers sold to All their chemicals and plastics with the exception of their car Bon dioxide for 000 pounds the Deal will Cut the British governments holding in from a controlling per cent to per a Treasury spokes Man behind desire to increase its chemical and plastics interest is the fact that petrol is the base for about 70 per cent of All or Ganic chemicals produced in Bri Tain and even More in the a United record earnings for new York the american Telephone Tele graph the worlds larg est corporate re ported tuesday record earn Ings and net income for the 12 months ended last said earnings for the 12 months were per share on net income of but earnings for the three months ended 30 dipped to 93 cents a share compared with the record 85 cents in the three months ended last net income for the Quarter was million compared with the 31 record of the previous 12month earnings record was for the year ended 31 when earnings were on net income of declared its customary quarterly dividend of 55 cents a payable 3 to share holders of record on Board chairman Frederick Kappel told More than 3 million shareholders that the firm had added telephones in the Quarter ended bring ing the total number of phones served to Kappel said Long distance calling was up 10 per cent Over a year Japan Selling yells new York a producers of the japans first Post War commercial expect to sell about 100 of the Craft to 10 Small airlines in a spokesman said three yells Are already in service with Hawaii closed the airline for the first time air Canada had Good year in 66 air Canada expects to record another profit for its 13th in the past 16 despite a two week strike which in november in its 29y president Mcgregor said in an annual Mcgregor indicated air can Adas economic future appears providing that the buoy Ancy of the Canadian Economy and he forecast an other profitable year in record passenger and freight new routes and new air Craft highlighted air Canadas activities during record borrowing Cost Money Market weaker in 1966 new York Cost of borrowing Rose to record Levels in a year in which Ameri Cas Money markets underwent severe Money became costlier to of finance corporate expand business deals and there was no setup in demand for Money in the vigorous Economy despite efforts by the fed eral Reserve to hold Down Bank defense demands from the Vietnam War added to the Money an interest rate War Between Banks and savings and loan associations prompted Federal action to Cool it three times americas Large Banks increased their prime in Terest rate customarily charged their most creditworthy corporate from All other rates Are at years the rate stood at 6 per highest in nearly 40 Bankers attributed the boosts in the prime rate to tight effects of the Federal re serves credit restraints first announced in began becoming apparent in the Spring in the growing net Bor rowed reserves of member these reserves Are the funds member Banks must borrow to the Federal reserves current policy allows the Banks reserves to be depleted without fully replenish ing to maintain their re the Banks were forced into the Federal funds reserves put up for loan by some As High As 6 per cent at the Money Pinch was sharpest in late at its the Federal Reserve cautioned Mem Ber Banks to slow Down the Pace of business the strains of tight Money showed up markedly in the Bond during the Augustsen tember period of severest Money yields in several sectors of the Bond Market Rose to their highest Levels since the late the High yields reflected the amount investors were willing to pay for available some Lon term government issues Rose from per cent on 1 to per cent in late new issues of callable to rated corporate Bonds Rose from per cent to per after the late summer the Bond Market moderated Indi cations pointed to a Gross of billion total for corporate Bonds in compared with Bil lion in municipal Bonds appeared headed for a total slightly under their record billion in the demand for Money prompted two Bank regulatory agencies Federal Reserve Board and the Federal Deposit insurance to Clamp interest rate Ceil Ings on some types of Bank de posits and rates paid by savings and loan associations and Mutual savings the year also saw one of the biggest Bank failures since the the Public Bank of nine years old and More than million in the closed and was immediately taken Over by another Ink which said All deposits were the National Banks got a new James Saxon stepped Down As comptroller of the ending one of the most colourful eras in the history of that staid presi Dent Johnson picked William Veteran monetary to succeed

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