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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Feb 11, 1967
Page
4
Market indicators show broad strength with high volumes and advancing issues across Daw industrials rails S&P 500 and NYSE transports. Cautious tone persists for a possible pullback if Dow nears 88-90 or 910-911, while interest rates and deficits loom as key drivers for further moves.
Profit taking trimmed early market gains on Thursday as uncertainty over Vietnam peace moves and anticipated statements from Rusk spurred some selling. Despite the dip, overall trend remains up, with lower taxes, low rates, and stronger consumer spending seen as possible long term positives. Analysts note no clear top yet and point to several vending issues potentially ready to advance.
Washington reports the Johnson administration acted to roll back a 30 penny per gallon rise in gasoline prices spread by oil companies in the past ten days. Interior Secretary Luce sent telegrams to eleven major firms and dealers urging rescission and price restraint. Phillips Petroleum defended the hike.
SACRAMENTO Orange County would get two more Superior Court judges under a bill by Sen. James Whetmore R Fullerton the author Orange County Superior Court filings now are second to Los Angeles County He said the 19 judges will be required to handle the workload if the workload increase continues Filings have risen at an average yearly rate of 8 percent and the 1966 grand jury called for additional judgeships
In Los Angeles Senator Edward W. Brooke calls on California Republicans to avoid misreading last year’s results as a mandate against social progress. He argues for a moderate, progressive GOP nominee in 1968 to address poverty and civil rights, noting Goldwater’s 1964 defeat and the public’s demand for effective programs.
A new 20 member organized crime division led by Deputy Atty. Gen. Sean S. Cohan begins work to curb narcotics, rackets, and infiltration of shady elements into legitimate businesses. Atty. Gen. Frank J. Kelley, a Democrat, says the Michigan setup could become a prototype for other states.
Soviet Foreign Minister Andrei Gromyko and other Warsaw Pact ministers return to talks as social workers protest with a strike for higher wages. Eight arrests at the county administration building raise total to 108, with earlier detainees released on their own recognizance after a judge ruled against a restrictive condition. County workers seek pay raises up to 20 percent while officials note prior wage increases averaged 2.5 percent with 5 percent for starting brackets.
Communications Satellite 5514 hit a new recovery high on Thursday as chart resistance rose in the area. The advance suggests the issue may still have upside potential despite current pullbacks and a cautious outlook from traders.
SACRAMENTO upi Members of 2 state employer unions plan to picket state buildings Monday to oppose Gov Ronald Ress mans voluntary holiday work plan. Pickets would be posted in Sacramento San Francisco and Los Angeles said Bud Aronson secretary treasurer of Local 411 of the AFL CIO Union of State Employees. Reagan urged state employees to work at no extra pay on Lincoln's Birthday and Washington's Birthday holidays this year to help resolve state fiscal problems.
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