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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 26, 1962
Page
6
A malformed report notes Brann facing prosecution over alleged stock sales. The article indicates a guilty plea or admission related to improper dealings, with details unclear about dates or enforcement. Stakeholders include the defendant Brann and legal authorities.
An OCR fragment shows a Wall Street Journal promotional ad with subscription pricing and contact details. It mentions a trial offer for three months at seven dollars, then lists the paper’s Pacific Coast circulation and the San Francisco address 140 Market Street. The text includes stray phrases and broken sentences from the ad.
U S officials issued subpoenas for telephone records and expense data from steel executives as part of a grand jury probe into steel price increases. Firms named include U S Steel Corp Betmerem Steel Corp and Wreetiig Steel Corp with Jones Laughlin also believed served. The investigation began after a seven dollar per ton rise and continued after the hike was rescinded amid protests.
The piece argues gullible investors chase fast money and warns that stock dope sheets and insider trading trigger market drops. It urges education, steady saving, and buying solid, income paying securities for financial independence, condemning shortcuts as risky and often luck based.
Grain futures in Chicago show rye and wheat moving strong to weak after a midday reversal on the Board of Trade. Reports say a large volume of grain is being shipped from Canada to the United States, with wheat and soybeans supported mainly by speculative buying.
U S Steel Corp will shut its National Tube Works in Mckeesport for ten days starting July 4 due to a slump in orders. An official of the United Steelworkers Union said between 1,200 and 1,500 workers will be idled.
Washington and UPI report Secretary of Agriculture Orville Freeman announced a national wheat acreage allotment of 55 million acres with greatest reluctance. The move signals a policy shift affecting farmers and grain production nationwide.
A C Rubel aged 67 becomes president and chief executive of Union Oil Co succeeding Reese H Taylor who died last Friday. Directors chose W J Stewart Jr aged 65 as board chairman. Both had announced retirement and Rubel had earlier served as company president from 1956 to 1960 and remained a director.
Rep George Miller said a panel will probe complaints that women are being shut out of the space program. He noted a female astronaut may be sent into space but questioned if now is the right time. The House Space Committee will explore the issue.
Robert Payne, 28, of Washington DC, climbed a water tower at the Western Correctional Institution near Pittsburgh. He denounced alleged cruelty and inhuman treatment and threatened to remain atop the tower until mistreatment allegations in the maximum security area are investigated. Homeowners nearby saw him waving a white night shirt as officials attempted to lower him.
New York cotton futures edged higher with July easing after issuance notices were halted. Dealers and commissions bought, nearby contracts rose while later months stayed firm. July and December prices showed modest gains, reflecting short covering and active buying in the market.
Port Said authorities report several legionnaires abandoning ships in the Suez area amid rising tension. Observers note 16 ships active with 5.50 dollar average value and port officials address possible internal discipline and security concerns following a wave of desertions.
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