24 Sep 1951
Page 37
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Newspaper
Phoenix Gazette
Location
Phoenix, Arizona, United States of America
Date
Sep 24, 1951
Page
37
In Bisbee, Sept. 24, AP reported Tucson players dominated the Andrew Liddell event. Don Byrd shot 74 to win the professional division, while Jack Eyman carded 75 to lead the amateurs.
Census Bureau reports 3 661 915 bales ginned before Sept 16 this year, against 1 495 249 last year and 2 695 465 two years ago. American-Egyptian cotton includes 671 bales. Sea Island none. Ginnings by state list Alabama 363 562 Arizona 22 093 Arkansas 118 166 California 12 504 Louisiana 311 648 New Mexico 1 262 Oklahoma 6 818 Texas 1 457 702.
Cotton futures opened sharply higher in New York on September 24 as traders covered shorts and sought near term gains. Prices rose across months but profit-taking and hedging capped gains, with nearby October and March seeing notable shifts before noon. Urgent covering and farmer holding pressure supported brief strength amid a broad covering movement.
Senate Republicans from the Rocky Mountain region express mixed views on a Mundt led plan to realign politics by linking conservative Southern Democrats with Republicans. Idaho's Welker supports an alliance among anti-Democrats, while Dworshak questions practicality, Eden predicts Southern support for a Republican challenge to the Democrats, citing loyalty to their party.
In a discussion on postwar politics Senators Watkins Bennett and Malone examine the possibility of a two party system in the South and the nation. They express doubt about Republicans attracting Southern Democrats soon but urge indigenous leadership and a candidate focused on national security and welfare.
The market opened steady with minor advances across many issues while nickel plate and several industrials led gains in New York. In Chicago corn and soybeans surged, wheat and oats rose, and authorities hinted at government campaigns to curb selling. Frost concerns and large crops colored the mood as traders watched measures to steady prices.
Sunray Oil Corp works on final plans for a 25000 barrel per day catalytic cracking refinery in Corpus Christi Texas. Defense Production Administration has granted a certificate of necessity. Preliminary estimates place total cost above 10 million dollars for the complete installation.
H. K. Porter Co. of Pittsburgh announced the acquisition of Buffalo Steel Co. of Tonawanda, New York, producers of light steel products. The amount was not disclosed.
New York bond markets were mixed as light orders from weekend dealings left government issues softer in quiet over the counter trading. Italian bonds remained in demand in the foreign dollar market with gains of fractions to over a point. Corporate issues showed some advances and declines with several names listed, while a West Virginia plan to raise 75 million by selling bonds to veterans of World Wars I and II faced uncertainty.
A historic note records the first hockey team organized in the United States in Pittsburgh during the winter season of 1897. This early formation marks the beginnings of organized hockey in the country with local players establishing a club framework.
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