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This newspaper page contains 19 articles. Subscribers can read the full text of each article.
Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 06, 1959
Page
7
A reader asks about stock buying rules and safer pathways. Sam Shulsky advises no rush, buy quality, diversify gradually, aim for about 4 percent yield, and build a portfolio of about a dozen solid securities while seeking city broker consultation. He notes public MLB stock is scarce and suggests blue chip utility and department store stocks as income options for an elderly widow.
London shares hit an all time high while New York wavered on selling. The British market gains ride on inflation fears and political shifts as the Nikita Khrushchev visit looms. U.S. stocks rose to new peaks as exports rebound and wage pressures ease, with economists noting potential steady growth without inflation if policy stays steady.
New York reports Stock market excitement with Dow Jones gains and bond market strength. Analysts note high quality and lower grade issues trading with elevated yields around 2 percent. First half results show Grace earnings near 3.25 a share, up about 97 percent from last year per Ira Haupt & Co. estimates. Honker Chemical seen earning 1.65 this year versus 1.43 in 1958.
New York trading showed steels and motors up while space age stocks dipped. Copper producers rose moderately and aircraft rocket fuel shares fell as investors weighed easing Cold War tensions and a June boost in freight demand. Rails rallied on upbeat incense outlook for June.
The plan, supported by Gov. Lawrence, advances a higher state sales tax to broaden the levy. It would extend the tax to services and certain goods, including beer distribution and liquor store sales, with political leaders predicting passage in the Senate and eventual enactment.
A broad market snapshot shows mixed activity with New York stocks uneven at noon. Reports detail cattle and hog prices, farm receipts, and steel and grain futures amid steady demand and scarce supplies in Texan markets and Chicago dairy and produce movements.
Two quakes within an hour rattled Seattle area causing broken dishes, fallen stock, and scattered debris on roads across Washington state. No injuries or major damage reported. Seismologist Frank Neuman of the University of Washington placed the epicenter about 130 miles from Seattle in the Chelan Waterville region with a magnitude around 4 on the scale.
The city council will act next Thursday to obtain a city limousine for the mayor. It agreed to accept Good Motor vp bid to secure two black four door Cadillacs for 5199 dollars. The chosen auto is not the cheapest or the most expensive model offered. The purchase of a $6038 Lincoln Continental was rejected as too costly. The city car will be garaged at Central Fire Headquarters with a fireman assigned as driver.
The southern half of the Florida Keys faced a six hour isolation on Wednesday night as a drawbridge in the Overseas Highway failed to descend. The bridge over Moser Channel south of Marathon stuck in the raised position to permit a boat to pass, causing miles of backed up traffic on both approaches.
General Telephone and Etextronics Corp proposes a 3 for 1 common stock split. Directors boost the quarterly dividend to 55 cents per share, about 2.20 annually, with the first new rate payment set for Sept. 36 for the third quarter to holders of record Aug. 21. If approved, dividends of new stock may be 8 to area share. The board also considers changing par value in a separate plan.
A coin flip determined which bidder would obtain a new police car. The text notes General Telephone and its renamed entity General Telephone & Electronics, with stock trades around 76.62 a share. The report references stock movements and a prior acquisition of Sylvania Electric Products.
Mayor Juan Lobo convened civic leaders to address a severe water shortage in Piedras Negras as residents cross the border to Eagle Pass to fill buckets at water stations. The article also notes a historic hotel project in New York and Real Estate Development figures, but the primary focus centers on water scarcity and border-crossing relief efforts.
Governor Earl K. Long danced at a Wednesday night birthday party in the Baton Rouge executive mansion. Long imported a New Orleans band to play songs from Strauss to Dixie land as 200 guests drank champagne and the governor jitterbugged to a hopped-up beat.
Forest fires sharpened by a dry trend yielded to firefighters across western states. California San Bernardino mountains blaze 60 percent contained after burning 11,200 acres with control expected Thursday. Idaho fires burned 13,000 to 15,000 acres and were contained or controlled. Oregon range fire near Yale totaled about 45,000 acres under patrol. Three firefighters reported missing were found safe. The phrase Gates park appears to be topped up in Montana amid spreading fire danger.
Court judges will receive buzzer systems wired to police units in the courthouse. Judge Mike Machado recently asked Police Chief Bichsel for buzzers in the proposed new police headquarters to handle fights between defendants. Bichsel urged immediate installation and the judge agreed.
Ben Pointer 37 of 543 Carroll told police he tried to help a wounded man at Maxine's tavern fight near the New Laredo highway about midnight. He said a assailant struck him from behind and he awoke on gravel with an empty wallet. the assailants beat a fourth person.
In Chicago a judge sentenced a young woman to 30 days in jail after an incident in a mixed-race classroom. Mrs Evelyn Paradies, a grade school teacher, accused the suspect of ripping her dress and shirt during a dispute over classroom conduct. The May 23 incident involved Miss Pauline Partee, who admitted ripping the dress but denied striking Paradies.
Public sale entries list a 1957 Myre mouth Club sedan and a 1959 Chevrolet Impala seized for violations, with notices of mortgages and terms of sale. Names include Ralph Stein and T. R. Mead, while districts mention Dallas and San Antonio. Bids must be filed by August 12 1939. property to be disposed of if not claimed.
Bank robbers stormed the Kit Carson State Bank, taking about $51,100 after entering with masks and handkerchiefs. Two employees and a customer were bound. the suspects fled in a stolen auto later found abandoned south of town as authorities pursued leads.
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