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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
Sep 26, 1966
Page
7
A reader discusses brokerage duties after converting debentures to common stock. The piece explains risks of changing conversion prices, failure to notify customers, and how conversion terms in the indenture affect outcomes. It warns that leaving convertible securities with a broker requires vigilance to avoid losses from adjustments.
New York stock market closed mixed as late buying pulled some indexes up from declines. Trading was dull with losses pared toward the close while the dollar gains in the UPIs and the NYSE averages showed a slight drift.
Reports state a twin engine plane carrying seven people disappeared during an overwater flight near Panama and Indonesia. Ground parties and 18 aircraft were deployed in a wide search across coastal and jungle areas as authorities face criticism over the lack of confirmed traces.
President Johnson nominates Chicago attorney William R. Rivkin as ambassador to Senegal and Gambia, replacing Mercer Cook who resigned to return to academia. Rivkin would serve as resident ambassador with accreditation to Gambia from Senegal, pending Senate confirmation.
A House subcommittee led by Rep. Adam Powell plans to limit its probe into Powell’s staff and travels while preparing to advance the antipoverty bill. Members complain of rapid staff turnover and extensive travel with hearings possible only after closed sessions. Powell vows to push the $1.75 billion antipoverty authorization and assess spending from a panel budget of $1.15 million over two years.
Washington reports say the administration antipoverty bill, estimated at 1.75 billion dollars, drew sharp GOP opposition over waste and form while supporters defend its aims. House consideration followed months of delay with a near unanimous vote to proceed, lawmakers debating cost sharing with states, local governments, and private industry.
Standard and Poor notes pockets of poverty exist against their will while critics call the program ill conceived and politically charged. Representatives from Minnesota New York Mississippi urge amendments to correct course as debate intensifies.
IDYLLWILD UP A brush fire charred 658 acres in the San Bernardino National Forest was controlled at 10 am. Firefighters from the U S Forest Service State Division of Forestry and honor camps battled the blaze near Palm Springs Sunday in upper Palm Canyon four miles north of California 74. Bulldozers aided access while helicopters and six aerial tankers dropped fire retardant on hot spots.
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