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Newspaper
Riverdale Pointer
Location
Riverdale, Illinois, United States of America
Date
Aug 06, 1959
Page
6
The Commonwealth Shareholder recounts the 1776 Declaration of Independence and the Continental Congresss early currency issues. It details initial paper money issuance, mounting depreciation through 1779, a massive devaluation to eight and then forty paper dollars per silver dollar, and the 1780s currency reform.
The Soviet exhibit in New York showcases various articles and commodities meant to impress visitors with Communist achievements. Yet the surface belies reality, as a quip notes a typical Russian would travel to New York to gauge higher living standards.
The Ivanhoe Reformed Church Men's Brotherhood elected Earl Cross as president John Barisas vice president Ray Kollath secretary Everett Lassiter treasurer and outlined a season starting with a September steak fry. They will host speakers on spiritual topics and pursue strong mission work with West Side Rescue Mission. Meetings are held the first Tuesday of each month at 8 pm.
The piece notes that Russians face shortages and high prices for basic goods under communism, with no real competition as the state sets production and prices. It cites foreign visitors and Bolshoi Ballet members amazed by American stores, contrasting mass production with global shortages.
Acme Steel Company posts mid year sales of 89 780 715 dollars up 60 percent from the first half of 1958 with net earnings of 4 355 899 dollars or 1 58 a share. Second quarter sales reach 49 671 140 dollars up 24 percent from the first quarter 1959 and quarterly earnings of 2 506 594 dollars or 91 cents a share.
Company executives Gillies and Avery voiced confidence that the steel strike would not derail growth. They cited third quarter trends showing solid operations and predicted a new era of economic expansion. The Acme plant’s completion and ongoing modernization would position it to meet future challenges and opportunities.
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