Cotton Price Ceiling Triggers Senate Pushback
Washington March 5 The first farm price ceiling on raw cotton took effect as price chief DiSalle faces new battles in Congress and from the cotton trade. Senators Maybank and Creekmore predict further fights and market closures could persist as OPS officials defend the 45.76 cent per pound ceiling on white middling grade amid industry and farm pressure.
MENTIONED IN THIS ARTICLE
Washington
Michael V. DiSalle
Maybank
S. C
Congress
Senfate
E. F. Creekmore
New Orleans
OPS
DiSalle
Eric Johnson
di Salle
Carolinas
White House
Agriculture Department
Department
W B Coberly, Coast Cotton Leader, Dies
William Bayley Coberly Sr. N 67 executive vice president of California Cotton Oil Corp and banker in Southern California died of a heart attack in Bakersfield after traveling from Los Angeles for the company annual meeting. Survived by widow Winifred two sons and a daughter nine grandchildren and two brothers. Funeral arrangements pending Mrs Hoover arrival in Los Angeles.
MENTIONED IN THIS ARTICLE
Bakersfield
Calif
INS
William Bayley Coberly, Sr
California Cotton Oil Corporation
California
Coberly
Los Angeles
Denver
Vail
Imperial Valley
National Cottonseed Products Association
National Cotton Council
Winifred
William B., Jr
Charles Wheeler Coberly
Margaret Coberly Hoover
Allan Hoover
Herbert Hoover
Hoover
Continental Buys Midwest Airlines
Midwest Airlines has been sold to Continental Airlines of Denver. H L Sweezy Midwest's general traffic manager reports the merger covers Midwest routes in Nebraska South Dakota Minnesota and Iowa. Continental operates main Denver routes to Kansas City Tulsa Oklahoma City and El Paso.
MENTIONED IN THIS ARTICLE
Omaha
Midwest Airlines
Continental Airlines
Denver
H. L. Sweezy
Midwest
Nebraska
South Dakota
Minnesota
Iowa
Continental
Kansas City
Tulsa
Oklahoma City
el Paso
Grains Pull Forward After Sluggish Start
Chicago March 5 AP Grain trading opened slow on the Board of Trade yet moved up as the market strengthened. Rain failed to reach the winter wheat belt boosting some buying amid light selling. Corn and oats fluctuated with modest gains and losses while soybeans slipped slightly. Receipts showed 349 cars, and traders eyed the Paris Big Four talks and evolving Korean front news for further direction.
MENTIONED IN THIS ARTICLE
Chicago
Board of Trade
Kansas
Paris
United Nations
Phone Firm 1950 Income Gains Noted
Meant States Telephone and Telegraph Company reported 1950 net income of 7 481 598, up about 2 million from 1949. Earnings per share were 7.20, vs 6.55 prior year and 8.30 in 1948. Operating revenues rose to 92 343 832 from 82 024 651 in 1949. The firm serves Colorado, Wyoming, Montana, Arizona, Utah, Idaho, New Mexico and El Paso, Texas.
MENTIONED IN THIS ARTICLE
Denver
Meunt States Telephone and Telegraph Company Today
Floyd P. Ogden
Colorado
Wyoming
Montana
Arizona
Utah
Idaho
New Mexico
el Paso
Texas
Oil President Named and as HOUSTON
Warner H Mendel of New York City has been elected president of McCarthy Oil and Gas Corporation. Glenn H McCarthy founder and former president was named chairman of the board.
MENTIONED IN THIS ARTICLE
Houston
Warner H. Mendel
New York City
Equitable Life Assurance Society of
United States
McCarthy Oil and Gas Corporation
Glenn H. McCarthy
Marbles Tourney Set for Asbury Park in June
National Marbles tournament returns to Asbury Park New Jersey June 24 to 29 on cork topped rings. Ralph Shurtleff, tourney director, announced competition is open to all youths 14 and younger with about two million children expected to participate at some level before the champions are crowned.
MENTIONED IN THIS ARTICLE
Cleveland
Ohio
Asbury Park
N. J
Ralph Shurtleff
Shurtleff
Kite Blamed For Texarkana Blackout And Fires
In Texarkana on March 5 a boy’s kite tangled with high tension lines, cutting power to two thirds of the city and silencing two radio stations. The tinsel-wrapped kite string caused shorts, triggering grass fires and electrical outages. Firefighters and police investigated. the man who flew the kite was unhurt.
MENTIONED IN THIS ARTICLE
Texarkana
Tex
W. H. McGee
McGee
ICC Delays Boost In Shipping Rates
Washington March 5 The Interstate Commerce Commission suspended until October 4 changes by Railway Express Agency that would raise by 10 percent the rates on less than carload shipments of fresh fruits vegetables poultry and eggs between California Oregon Washington Idaho Montana amid protests by shippers while hearings on a general nationwide rate increase are held.
MENTIONED IN THIS ARTICLE
Washington
Interstate Commerce
Railway Express Agency
Pacific
Mountain States
California
Oregon
Idaho
Montana
Famine forecast for Korea if refugees not reclaim farms
Geneva March 5 AP Kingsley United Nations reconstruction chief warned of famine in South Korea next year unless about 3 million refugees can return to farms by May. He cited potential rice shortages, fertilizer gaps, and 65 percent destruction, noting 2.5 to 3.6 million refugees and the need to rebuild homes before ending displacement.
MENTIONED IN THIS ARTICLE
Geneva
South Korea
J. Donald Kingsley
United Nations
Kingsley
New York
India’s Kumarappa Criticizes U.S. Aid To France in Indochina
India’s delegate to the UN Social Commission says the United States backs France in Indochina to crush Asia’s independence. He urges liberation over dollars, noting many Asians identify as pro-bread rather than pro-Russian or anti-American. Denton officials deny his speech venue but a Quaker sponsor says he may still speak.
MENTIONED IN THIS ARTICLE
France
Indochina
Asia
Jefferson Methodist Church
India
United States
Denton
Kumarappa
Houston
American Friends Service Committee
Kuumarappa
Yugoslavia seeks new loan to bolster sagging economy
Belgrade March 5 AP A distress call by Yugoslavia for more funds to bolster its sagging economy goes to the United States Britain and other western nations Foreign Trade Minister Milenko Popovic told parliament he hopes for quick results to keep the country on its feet He said loans obtained so far are buying less because of rising world prices
MENTIONED IN THIS ARTICLE
Belgrade
Yugoslavia
United States
Britain
Milentije Popovic
Tactics at trial don’t fool Medina
New York March 5 AP Federal Judge Harold Medina says lengthy opening statements in the antitrust suit against 17 investment banking firms have not steered him from the central issue. The trial is in its fourth month with defense still delivering opening remarks. Assistant Attorney General Holmes Baldridge warned the long preamble could obscure the case, but Medina replied that they are not fooling him.
MENTIONED IN THIS ARTICLE
New York
Harold R. Medina
United States
Holmes Baldridge
Two Agencies Get Together On Dealings
Washington, March 5 AP The Treasury and Federal Reserve Board end a two month dispute to pursue a full accord on debt management and monetary policy. The plan covers interagency dealings, not new inflation controls, and aims to reduce market pressure on long term bonds through a new higher interest issue. The split over bond buying remains unresolved, as the Treasury fears higher rates and debt costs, while keeping Series E Savings Bonds unchanged for individuals.
MENTIONED IN THIS ARTICLE
Washington
Treasury and Federal Reserve Board
Federal Reserve
Treasury
White House
Treasury-Federal Reserve
New York
Department
Ee Hudson
Manhattan
Yokohama
Boston
Maine
Canadian Pacific Perpetual
Reading A
Virginia
S. T
Penn
Bush Terminal
Big Four
Illinois Central
Steels Rails Autos Among Leaders Off
The stock market dipped with steels, motors, rails, and chemicals leading losses. Droops stayed under $1 and volume slowed after weekend orders cleared. Treasury settlement of differences drew attention while details of a new non-marketable bond were delayed. Bank-eligible list showed declines up to 6/32. American Telephone fell, others like Southern Railway and Bethlehem Steel slid. U S Steel, Celotex, IH, U S Rubber rose modestly.
MENTIONED IN THIS ARTICLE
New York
Treasury-Federal Reserve
Wall Street
Southern Railway
Southern Pacific
Bethlehem Steel
Jones” Laughlin
Chrysler
Studebaker
Dow Chemical
du Pont
Kennecott Cooper
Goodyear
J. I Case
U. S. Steel
Celotex
International Harvester
U. S. Rubs
Air Reduction
American Can
Pan American Airways
Packing Company Gets Price Relief
Reno March 5 The Office of Price Stabilization released Stockman's Packing Company from price controls until March 7. M A Fairchild, the firm president, said the concern faced heavy losses under dressed meat controls. OPS in San Francisco granted temporary relief while it reviews the appeal.
MENTIONED IN THIS ARTICLE
Reno
Stockmen’s Packing Company of
Office of Price Stabilization
India Relief Bill Okayed by House Foreign Affairs
The House Foreign Affairs Committee endorsed a $190 million famine relief program for India to bolster resistance to communism, backing a plan to provide 2 million tons of grain as four Republicans urged a loan instead of a grant. The panel warned India is a symbol in the Far East amid Soviet pressure.
MENTIONED IN THIS ARTICLE
Washington
India
Congress
House Foreign Affairs Committee
Far East
Soviet Union
Republican Committee
Vorys
Ohio
Chiperfield
Ill
Smith
Wis
Reece
Tenn
Treasury bonds trade on new issue plan amid market fluctuations
Treasury bonds moved little as a tentative plan for a new type 2 percent bond exchangeable for existing issues surfaced. Market activity showed mixed results with Victory bonds steady while longer issues, railroad and telecoms faced price declines. Foreign dollar prices and select corporate bonds also fluctuated, with notable gains by Hudson and Manhattan.
Also Mentioned on This Page
W.B. Coberly
Coast Cotton Leader
Luhrs Arcadé
Marbles Tourney
America
Phoenix
CAGE
ARENA
John Reed Kilpatrick
Madison Square Garden
Garden
Kilpatrick
Theodore Earl
Sharon Lee
Linda Joy
Rangoon
Sao Hseng Ong
Burma
Audrey
Sao Hom Noan
Cambridge University
England
South Koreans
U. S
San Antonio
United Nations Social Commission
Bharatan Kamarappa
Frank Howard
Jimmy
Florida Everglades
Miami
Haiti
Dominican Republic
Port-au-Prince
Rafael Trujillo
Paul Magloire
Truman
Buddy Poppy
American Legion Auxiliary
Willis C. Reed
the Legion
Legion
Earl Cocke, Jr
Medina
Treasury-Reserve
FRB
George S. May Company
Waeneee Western Division
Geary Street
San Francisco
Celif
Sale
Benton M. Lee
Ficks & Tompane
New York Stock Exchange
North Central Ave
van Buren
Mesa
South Macdonald Street
Home Owned—Home Operated
KRUX
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