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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 01, 1965
Page
8
The writer debates Social Security's value amid inflation worries, arguing government bonds backed by a strong economy and citizen taxes sustain retirement funds. He dismisses bankruptcy fears, defends government support, and questions options for a retiree with real estate income seeking inflation protection and safe investments.
On the eve of a threatened industry wide strike, Aluminum Company of America reached a pattern setting agreement with three major unions United Steelworkers United Auto Workers and the Aluminum Workers and Reynolds Metal also involved.
Alcoa signs settlements with unions ending major wage disputes leaving talks between alumina workers and Reynolds Metal ongoing. The Fort Worth livestock market reports mixed cattle prices and auction receipts amid steady demand for veal and goats.
New York reports a mixed stock market with early gains fading into an irregular pattern after a quiet Memorial Day weekend. Alcoa and Aluminum Ltd led modest advances while Spiegel and Beneficial Finance saw brisk buying. American Telephone edged higher, and utilities and industrials showed varied moves amid modest volume.
London reports heavy selling of the pound sterling in the foreign exchange market with immediate delivery at $2.70792, down 1-32 cent, as central banks are said to support the bid. Traders cite weak British productivity figures and the high Bank of England rate as factors affecting investment, housing, and business expansion.
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