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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Aug 29, 1960
Page
9
In a Q and A style column Sam Shulsky explains why a $10,000 mutual fund investment cannot reliably yield $1200 a year without depleting principal. He critiques high dividend claims, discusses brokerage commissions, and clarifies fund dividend timing. He also advises on recent purchases, growth fund characteristics, and the role of savings bonds in emergency planning.
San Antonio livestock market news notes receipts down from last week and year with cattle slaughter steady to weak. Slaughter steers and heifers mixed pricing, cows active with higher values on some cuts, stockers and feeders steady. Hogs light bid, lambs and goats show varied, calves strong for good stock. Families and banks listed among buyers in market sources.
Texas poultry market reports mixed conditions with buyers and sellers at odds on values. South district prices rise slightly with demand improving for early supply. volumes moderate. Southwest exchange lists 228,500 head fried under contracts with varied pricing from 15.5 to 16.5 cents per pound. Chicago produce notes steady butter and eggs with white Leghorn fryers around 20 cents.
Fragmented OCR listing shows broad market figures from the New York Stock Exchange and other exchanges with mixed percentages and stock identifiers. The page includes numerous company codes, prices, and percent changes, plus scattered notes about dates and volumes, reflecting a dense market snapshot.
New York real estate firm Webb & Knapp reveals in its 1958 annual report that debt incurred during tight money conditions carried burdensome rates, with notes payable to six lenders totaling 37.6 million dollars and interest up to 22 percent. Despite losses, pre tax earnings reached 67,843 dollars as asset sales and rental income helped to return to black.
The market opened lower in moderate trading as steel and autos declined while some big gainers offered support. U S Steel, Jones & Laughlin and Ford fell about a point, Bethlehem and GM slipped, Studebaker-Packard and American Motors rose slightly, Comptometer and Telautograph saw heavy activity amid mixed sector moves.
A two car collision 19 miles from the city limits on U S Highway 87 east near Sayers left two dead, six injured after severe rain. Victims include Mrs. Jane E. Fryar, 42, and Stéphany Miller, 15, while others suffer internal and other injuries. Multiple local residents and service members are named in a long roundup of military personnel and training details unrelated to the crash.
Washington Republicans and Democrats fault farm storage and handling programs as subcommittee cites mismanagement of more than two billion dollars in storage and handling costs. Senator Symington urges reform including renegotiation clauses to recapture excess profits while Agriculture Secretary Benson defends the department’s overall operations.
Earl Kemp Long resting on the maternity floor after winning the Democratic primary runoff in Louisiana’s Eighth District. He defeated incumbent Harold B. McSween and was taken to a hospital in Alexandria with exhaustion and bronchial inflammation after election eve stroke concerns.
The state highway department readies median guard barriers for two IH 35 sections, a .9 mile central downtown overpass and a .7 mile stockyard overpass. Texas standard guard rails, 2.1 feet high, will be two corrugated steel plates back to back, at an estimated $113,000 total. The central overpass barrier costs $49,000 and runs east of N Flores Street to Vera Cruz, replacing a mixed curb. The stockyard overpass barrier costs $64,000, longer due to curb work around a curve, from south of the T&N Orr underpass to south of Powell Street.
Twenty-fourth street property owners pledged $1500 to help fund curb construction after a meeting with City Councilman George de Tabarza. Frank Martinez of 610 S. W. Twenty-fourth St. told the councilman that yards flood when street runoff rises during rain.
A two car crash near Santa Rosa left Maj. Loren N Fryar and his daughter Loretta seriously ill with head injuries, while Fryar wife died. The Miller vehicle carried Jane and Nicholas in good condition with minor injuries as witnesses recount a slick road and a broadside collision after a curve.
Fort Sam Houston area resident William J. Benjamin 31 plans to sell his English sports car when two house guests Pansy Workman 36 and her son Victor 13 from Finley Ohio ask for a ride. While traveling on Goliard eastbound a tire blows out causing the car to slide 77 feet flip 24 feet and right itself. Benjamin escapes injury while Workman and her son suffer severe bruises and are taken to Tackland hospital for treatment.
A called Harlandale Independent School District board meeting will adopt a $4,630,204 budget at 7:30 p.m. Tuesday. Local revenue rises to $626,379 amid higher instructional costs and new Gillette Elementary. Administration spending declines to $109,817, while teaching costs jump to $2,288,523 with expanded staffing and an added adult education program.
Cotton futures in New York opened five cents a bale lower with mixed bid quotes across contracts from October to July. Noon prices showed volatility, ranging from a ten cent gain to five cent declines versus the prior close, reflecting unsettled early session activity. (Note: OCR noise preserved where readable.)
A San Antonio column by John D. Palmer explains Social Security basics. Questions cover spousal benefits, dependent parents age, and eligibility for a nonworking spouse. The answers note that spousal benefits are offset by higher own benefits and that dependent parent ages remain 65 for men and 62 for women.
Washington says Gen Nathan F Twining will retire as chairman of the joint chiefs of staff effective September 30. Gen Lyman Lemnitzer will succeed him after Senate confirmation last week.
1200 square feet available in a reading shopping center. Ideal for office suites for doctor dentist or lawyer. Will remodel to suit tenant. Prime location easy free parking and patient client conveniences. For information write Light Box 2488 or call Mr Seidanberg at St Anthony Monday all day or Tuesday morning.
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