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Newspaper
Phoenix Gazette
Location
Phoenix, Arizona, United States of America
Date
Jan 23, 1950
Page
29
Grain markets recovered after an early sell-off as cereals closed irregularly. Wheat, corn, oats, rye, and soybeans showed mixed moves with limited gains, while receipts and government actions influenced sentiment.
A detailed tabulation from the New York Stock Exchange lists prices for numerous stocks including Abbot, Air Reduction, Allied Stores, AmCan, AmAirlines, and many others with bid, ask, and close figures. The table covers open high low close and percent changes, compiled by The Associated Press, reflecting Friday trading activity and notable shifts across sectors.
New York January 23 AP Wall Street took a look at President Truman's tax message and the stock market perked up. An early decline was halted as details circulated with some gains. The market held steady with mixed results and about 1.3 million shares traded. Rails faced initial pressure but recovered. steels and motors rose while oils slipped. Curb market mostly unchanged to higher with small losses scattered.
Earnings data for Celotex, Wilson and Company, New York State Electric and Gas, and Virginia Cn Hine Chemical cover fiscal years and quarters ending late 1949. Figures show net income and earnings per share, with large variances versus prior periods and differing reporting conventions across companies.
Wool trade reported uneven buying and selling with irregular outlets in New York. Futures prices showed a lift with May at 135.08 and other contracts edging higher amid Australian cable signals. Sydney prices continued rising and record highs were paid locally as futures closed modestly up.
New York Jan 23 Following are today's delivered metal prices in cents per pound for standard items. Electrolytic refined and refinery grades show mixed values across Valleys and ports with ranges around 9.25 to 18.00 cents per pound.
In New York on January 23 1926 the wholesale price commodity index fell from 160 44 the prior month to 160 26 for the day The high was 177 and the low 136 The report notes the 1926 average equals 100 with a slight decline from the previous day and month reflecting overall price movement in staple commodities.
New York January 23 AP Cotton futures held steady on mill buying and short covering as demand for textiles and spot cotton remained strong. Prices at 10 primary spot markets last Saturday averaged about 1 1/2 cents above loan levels, with shifts from nearby March to later months ahead of March contracts notice on Feb 23.
New York trading posted mostly fractional advances in railroad bonds with select issues like Colorado & Southern and Canadian Pacific moving higher while treasuries slid. Market watchers tied the tone to Reserve System actions and coal strike uncertainty as volume remained subdued from Friday.
Standard copper futures closed 2 higher with May at 15.40 per pound. Copper contracts traded quietly with no sales. Domestic zinc futures ended unchanged to 5 lower, with March at 9.00 and July at 9.65.
Readable text is limited to a fragment mentioning Los Angeles on January 23 and a few garbled words. No identifiable event, person, or organization is extractable for a proper summary.
New York markets report cottonseed oil at 13.01 as of January 3 with trading activity seen ahead of the week. The brief note notes price levels and market tone without broader context.
January 23 report from Savannah details offerings and receipts with shipments and stocks. Primary figures include 4244 and 365 noted among entries, indicating inventory movements and stock levels. The fragment references pentine and related terminology, suggesting a mercantile or commodity ledger excerpt.
Livestock markets in Los Angeles and Kansas City show varied demand with cattle and calves steady to higher in some categories. Cattle salable around 3,400 in LA with top fed steers 25-26, cows 17-18, calves 20-25, hogs up to 18 for 190-246 lb truck-ins, sheep light. Kansas City reports 13,000 cattle, steers weak early but stockers and feeders active, hogs 3,500 with steady to higher close, lambs modest. Chicago notes hogs opened steady to lower, lighter weights soft, heavier weights steady, cattle mixed with some price relief for bulls and sows. Overall, demand remains uneven across regions with price shifts by weight and class.
Arizona leads the nation in per acre cotton yield with a record crop of 540000 bales on 373000 acres yielding nearly 700 pounds lint per acre. The 1949 crop sold for 87000000 dollars, with two counties producing most of the output, and experts cite improved practices and defoliation as key factors.
Prices across categories show modest moves with butter firm and eggs steady. Receipts over two days report uneven price changes and several line items for chickens, hens, fryers, rabbits, and broilers, with grade and weight distinctions noted in cartons and dozen pricing.
Quotations from the Phoenix securities panel show values for US Trust Valley National Bank Hills Mills and Southwest Lumber Bills. Figures include 8.00 for US Trust 13 percent for Valley National Bank 14 percent for Hills and 84 for Mills with other values listed for Soildenders and Southwest Lumber Bills.
Foreign exchange listings from New York show the Canadian dollar at 82 market with a 10% discount, Great Britain pound at 2.80 dollars with 30 day futures at 80% unchanged, and France and Italy fractional changes. The report notes various currencies with minor or no movement and includes other minor rates.
The Census Bureau reports 15,641,310 running bales of the 1949 cotton crop ginned before Jan. 16, up from 14,140,444 a year ago and 11,390,100 two years earlier. American-Egyptian bales total 3,558, Sea Island zero. Arizona leads with 515,585 bales, followed by 306,463 in a recent state tally.
FHA Commissioner Frank D. Richards said the agency is seriously considering lowering rates on government insured home loans though no decision has been reached. Most FHA loans carry 4 percent. GI and large rental projects already at 4 percent may see a rate shift to align with GI options.
Kaiser-Frazer announced Hydra-Matic transmissions will be offered on its popular and mid priced 1951 models along with optional overdrive on all but the lowest priced car. GM and Ford already use Hydramatic in several divisions, with GM training programs planned at Willow Run. The transition period will lay off about 3,500 workers over five weeks as three new lines shift to production around March.
The Sidman and Seidman annual furniture industry review reports 1949 U.S. wood household furniture manufactured at $1.175 billion, down 12 percent from 1948. Prices fell 4 percent, yet physical output declined less, with factory employment dropping about 10 percent. Frank E. Seidman predicts a rebound to strong business in coming months.
CHICAGO January 23 INS Tele vision time sales totaled 24 750 000 in 1949 almost three times TV s 8 700 000 in 1948 The Broadcasting Tele casting Yearbook reports radio time sales in 1949 reached an estimated 429 000 000 a new record 3 per cent above 1948 The yearbook shows radio audience trends with U S radio families rising toward saturation and radio homes totaling 39 281 000 about 95 per cent of all U S homes
Investment trusts listed with bid and ask figures show diverse funds including Boston Fund Commonwealth Inv and Fidelity funds. Prices span mismatched values with ranges from under 1 to about 30 plus occasional fractional cents.
United States Steel directors announce a new pension and insurance agreement with CIO United Steelworkers of America will cost an extra 67.5 million dollars yearly, raising total pension costs to 78 million from 10.5 million. Stockholders number 244,000 are urged to approve before a February 27 meeting in Hoboken New Jersey. The plan covers about 190,000 CIO Steelworkers members and 100,000 other employees.
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