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This newspaper page contains 8 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jan 28, 1967
Page
4
The article analyzes weeklong market breadth showing more advances than declines amid volatility. It cites prompts from the Dow near 834 to 887 intraday and notes a Chase Manhattan rate cut as contributing to price swings, with several bets on earnings and dividend prospects. It references Gardner-Denver and others, framing a cautious yet hopeful forecast into 1966.
Charles and Virginia Farrell file suit in Superior Court seeking control of their estate. The action, tied to a complex trust arrangement, follows a volatile trading session with uneven market readings and peaks, as Bank of America statistics frame the district activity.
The market finished a week of consolidation after three weeks of broad gains. Investors weighed overbought conditions, with technicals pointing to risk, while analysts cited mixed signals from various sectors and limited near term upside potential amid cautious trading.
Texaco Inc and California Standard Oil Co agreed to divide Caltex assets and operations in Europe among Britain Ireland Belgium Denmark Germany Greece Italy Luxembourg Norway Sweden Switzerland and the Netherlands. France Spain and Turkey were not affected. The arrangement aims to capitalize on evolving opportunities and allow concentration of resources in other regions, notably Suez where Caltex has strong market penetration.
Washington reports a five point federal policy to promote oil shale development in western states led by Secretary Udall. It outlines provisional leases, environmental safeguards, and cooperation with the Atomic Energy Commission and private sources to extract oil. Agencies seek funding for extended studies and a broad research program. Estimates say Colorado Utah and Wyoming hold oil shale equal to 70 times current proven crude reserves. Commercial operation is years away pending tech advances. Federal action aims to clear disputed titles and consider private lands for exchanges to maximize shale resources.
BERKELEY AP University of California seismologists logged a 6.5 magnitude quake near the Aleutian Islands at 5:59 am, noting no tidal action. The report follows a chaotic summary of mergers and earnings for McDonnell Douglas and cited figures for the last half of 1966, with per share values and total sales.
Ohio Finance Director Richard Krabach met with Southern California industrialists and executives for a two day conference to form a voluntary efficiency task force. The plan calls for business leaders to review state agencies and propose cost saving and efficiency measures. Governor Reagan attended and Krabach cited Ohio's $60 million savings.
The original seven American astronauts shrank to two as deaths and retirements reduced the cohort. Virgil Grissom Edward White and Roger Chaffee died in Apollo 1. Remaining members include Gordon Cooper Walter Schirra John Glenn Scott Carpenter and Donald Slayton. A Canyon district judge ruled the Canyon school must admit Judy Rae Anderson, 16, for junior high classes.
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