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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Feb 25, 1957
Page
7
The stock market shows a volatile rally with gains in early sessions fading as traders weigh cautious tones and weaker volumes. Analysts note persistent selling pressure in industrials and metals while risk assets edge higher on policy hopes and earnings signals.
Nathan Adams announced as savings bonds chairman for District 7 overseeing promotion and sale in 16 southern Texas counties. Duke, president of the St. a song hotel, is to direct all phases of the drive. Duke, born in Belton, studied at Baylor and Texas, and led the Alamo Heights Lions and San Antonio Exchange clubs. District planning meeting will set plans for the 1957 bond sales program.
Livestock prices show steadiness in cattle with steady to higher bids on steers and heifers, slow demand for some classes, and lingering strength in stockers and feeders. Hog and sheep trading mixed with several lots moving at varied per hundredweight levels, cattle and calf values fluctuating by grade and weight. In Worth, activity remained strong for calves, yearlings, and slaughter stock with prices and demand uneven across categories.
Madrid reports Generalissimo Francisco Franco expected to announce a new cabinet tonight. Reliable sources say there will be notable changes in the cabinet makeup. Tax exempt state and municipal revenue bonds are referenced amid the political developments.
Chevrolet division of General Motors cut output to match inventory needs. It built 26,500 passenger cars last week versus 33,747 the week before, with assembly plants in Baltimore Flint St Louis and Tarrytown NY operating under five days. This year to date it produced 251,926 cars against 280,674 in 1955 while Ford runs ahead with 260,649 produced versus 220,780 in the prior period.
Albert F. Leek, father of six, died Saturday when his car collided with a souped up racer while six youths fled from police. Patrolman Woody Tatfield said the chase reached 70 mph before the cruiser fell behind. Driver Robert Eugene Morgan, 20, pleaded not guilty to murder by auto and was released on $4,500 bond.
New York reports earnings across firms for different year ends. Austman Kodek posts 94.36 million dollars and 85.19 cents a share for 62 weeks ending Dec 39 5955 while American Snuff a shows 2.10 million dollars for the year ending Dec 21. American Water Works tallies 2560 per share. Granian Aircraft Engineering reports 1.10 and others include Phil tin Harris 12.76 million and United States Pipe and Foundry 120.96 million. The market notes offer broader corporate performance in a busy earnings briefing.
In early trading New York stocks showed narrow price changes with some gains and losses. Royal Dutch rose 1 percent, Gulf Oil up 24 on a small block, Eastman Kodak and Philip Morris posted mixed results, while steel and several other names fell. Broadly, market remained hesitant amid Middle East uncertainty and a light week of news.
London dispatch cites Prince Rainier of Monaco angry at the bickering over pictures of his infant daughter Caroline. He denies rumors he profits from exclusive photo rights and avoids photographers sniping the baby's face.
Washington February 25 Justice Stanley F Reed announces his retirement from the Supreme Court after 19 years on the bench. The Kentucky Democrat and 2nd appointee of President Roosevelt is 72. He cites the strain of unremitting exertion as the reason for stepping down.
West German Chancellor Konrad Adenauer arrived at a northern Italian resort on Lake Como to begin a three week vacation, traveling from Lomo Italy in February 2042.
George Edward Cale, 29, an ex soldier and convicted felon, was added to the FBI’s Most Wanted list for the murder of a San Francisco police officer during an attempted tavern holdup last December. Described as medium build with brown eyes and hair, he has served time in Missouri and California prisons and bears multiple tattoos including an eight pointed star on his back.
A fragmented New York stocks update shows Dow Jones and railroad shares moving unevenly. Minor gains appear in several rails while some blue chips drift, reflecting a cautious session with limited capital movement.
Fragmentary OCR text references cotton prices and mid year dates with unclear names and places. The readable bits mention July and numbers like 21 and 32, but no coherent event, entities, or actions emerge to form a proper news item.
New York reports a mixed postwar pattern with farm machinery leading revival while metal fabricators slow. Analysts predict 1957 may bring soft spots but overall gains as demand for farm equipment rises, construction grows and steel use shifts to buildings and infrastructure.
Interhandle Swiss investment firm seeks to halt government sale of Interhandle stock in General Aniline & Film Corp. In federal suit, two Swiss Interhandle stockholder groups challenge seizure of 75 percent stake as enemy controlled. Government contends Interhandle tied to T. G. Farber. bid process limited to American citizens with about 20 million dollar net worth of General Aniline & Film. Bids due April 23.
The fragment lists diverse produce and farm prices with numerous misspellings such as corn beets onions potatoes spinach and tomatoes. It notes paying prices to farmers on a given Monday with figures like $1.60 per bushel for corn and $3 per hundredweight for wheat, amid a jumble of broken terms and units.
Washington February 25 Harold E Stassen, Eisenhower's disarmament aide, told the National Association of Secondary School Principals that the next generation will be more influenced by antiwar and patriotic values in secondary schools. He cited teens rising in religious education, scouting, and wholesome cultural activities as key to public capacity, attitude, responsibility, initiative and ethics.
Two airmen stationed at Carswell APB drowned yesterday when their boat overturned on Lake Worth. Victims were John Kurlage 27 Berwyn Pa and A2C Hayley Dell Gartill Za Ft Worth. Rescued was A1C Wade Meississick 21 Balantowge.
Salvaman Kenneth W. Ritehel led a drive to fill First Methodist in Dallas yesterday. Executor services cited by attendees tallied around 200 present with the church estimated to hold about 2600 people. Ritehel may have kept others away from attendance.
Auction notes show poultry steady with no major changes in prices. Market watchers report firm demand from dealers and retailers as turkey and chicken quotes drift within narrow ranges.
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