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Newspaper
San Antonio Light
Location
San Antonio, Texas, United States of America
Date
Jun 26, 1963
Page
14
Sam Shulsky explains stock dividends as an alternative to cash payments, noting a rise in companies distributing additional shares. The piece cites a Stand P. R. Mallory study and lists several corporations adopting stock dividends, with tax implications for shareholders.
A fragment discusses stock dividends and tax considerations for long term stakes in a corporation. It suggests consulting a broker to select options and mentions specific price figures like 13.00, 17.00, and 5.00 in a spring context.
Mayor Earle Cabell says negotiations with Barry Weinberg chairman of the Dallas Transit Co. could let the city buy out the firm. He aims to report to the city council Monday after returning from Honolulu where talks occurred. Weinberg agreed to provide appraisal data on the company’s value before further negotiations in Dallas.
Deposits total eight billion tons of coal per World Book Encyclopedia, while Texas uses little of its oil and natural gas, leaving vast energy resources idle. Butter prices steady in Chicago reports and various meat and poultry price listings show minor shifts as markets hold steady.
Cotton futures in New York opened unchanged from the prior session with July at 34.62 cents per pound and December around 33.04 as traders watched noon prices. The forward contracts showed little movement with nearby months hovering near prior close despite routine market activity.
St Paul prosecutors report T Eugene Thompson, a 36 year old attorney, held on $100000 bond after being indicted for the murder of his heavily insured wife. His arraignment was delayed to July 8 as the grand jury returned the indictment last night.
McDonald says steel negotiation shows there can be a peaceful settlement when both sides work, avoiding outside government intervention. The pact includes a no strike pledge, sabbaticals for long-serving workers, and no wage increases for two years, setting a model for auto and electrical equipment talks ahead of possible rail featherbedding disputes.
The New York market moved lower in moderate trading as several blue chips slipped. Lockheed and Polaroid led declines, while Litton Industries and others fell about a point amid cautious investor mood and a dimming near term rally outlook.
The Texas Supreme Court ruled that Jarrett Norris of San Antonio cannot force First Credit Corp. to finance a loan on a wrecked car. Norris claimed a deal to trade a 1954 Chevrolet for a 1960 model and $1,000 top was arranged at Norris’s Check er Motors. The court upheld a lower court ruling in favor of the finance company, noting the insurance papers and other documents were not delivered and the loan could not be closed.
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