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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 04, 1962
Page
3
Stock analysis notes earnings trends through mid year and fears a potential August peak as the market discounts expected tax changes. It cites Connelly leadership, a 3x price rise since 1957, and debates whether July highs hold with 600 Dow as a critical level while flagging rising rates and uneven quarter gains.
A nuclear merchant ship Norfolk faces delays before maiden voyage as a labor dispute over pay raises triggers negotiations and a government fact finding panel. The outcome remains uncertain while shipyard work continues and the crew seeks parity with engineers. The Alcatraz inmate Russell Poole wins a court review promising possible release with appeal time granted.
The article praises Crown Cork & Seal's growth since 1956, noting its cans crowns and closures business, packaging machinery, and expanding plants. It highlights sustained recovery attempts, volume trends, and the stock details including preferred and common price ranges, yielding around 4.995 percent, with callable preferred at 38.00.
A dense list notes bids and asks from securities dealers, naming many insurers and financial firms across the market. It records approximate values and potential transactions, including banks, insurance companies, and investment houses, with scattered price-like figures and ticker fragments.
Communist China claims rapid advances in nuclear research aimed at peaceful uses, while hinting at weaponization. Chen Yi says Beijing has powerful scientific organizations and is not far behind other nations, though details were not disclosed.
Danish demonstrators protested a visit by West German warships. About 50 youths moved to the pier and 20 sat down before a ship while police attempted to disperse them after several warnings.
The House of Commons adjourned for a recess after a brief walk about the chamber. Churchill, recovering from a fractured thigh, will travel to Middlesex for rest. A war leader at present, he noted plans for upcoming maneuvers and a September leg from the front.
Attorney General Robert Kennedy and his wife with four children arrive in Marin County at the start of a two week trip. They are hosted by U S Attorney Cecil Poole and Mr and Mrs John Bates as Kennedy attends the American Bay Association convention opening Monday in San Francisco.
California faces city county consolidation in the next four years Gov. Edmund G. Brown predicted on his first day in office. He planned a taxpayer listening drive across Los Angeles County to gauge local support for annexation and consolidation while fire fighting functions may shift to a Metropolitan model. He said his campaign will be person to person, asking residents what they think as President Kennedy’s broader federal aid for college construction is debated. The governor arrived with his family at the Civic Center and is expected to attend events as guests tour the state.
Washington (UPI) Foes of the administration communications satellite bill announce plans to resume their filibuster when the measure returns to the Senate next Friday. Senators Morse Long Wiley challenge FCC chair Minow during six hours of hearings, with Morse promising lengthy replies to Minow after the hearing. Long opposes the administration bill arguing it would grant AT&T a monopoly via a government backed system.
Rep. Adam Clayton Powell says White House and Congress cannot pass the $1.5 billion college aid bill this session. He calls it hopeless and notes that despite House and Senate approval, the measure is stalled in conference over church-state disputes that derailed education aid last year.
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