Stocks Dip as Averages Slide on Friday
The Associated Press reports 60 stock averages closed at 15.6, down from 16.5 a week earlier, while the commodity index rose.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Aug 23, 1964
Page
27
The Associated Press reports 60 stock averages closed at 15.6, down from 16.5 a week earlier, while the commodity index rose.
The UAW and major automakers face looming strike risk with current contracts expiring August 3. General Motors Ford and Chrysler proposals include higher wages and larger pensions. UAW calls offers miserably inadequate. Executive board will decide if and when to target a company.
AP Business writer Ed Morse reports a mild weekly stock market downtrend with optimism for quick settlement of labor contract talks. Dow fell 19 to 438.62, volume light, and the AP 60 average eased slightly. Fifth Avenue Coach Lines, Chrysler, Gulf Sulphur, American World Airways, and Sunshine Mining were among top active issues on the NYSE and AMEX.
Goreville laundry installed a 9 by 12 foot rug washing machine after a demonstration in Pana. Mr and Mrs Estel Wilson purchased the washer, claiming it to be the area’s only unit of its size. Open house today at Chester Clinic at Sickmeyer Chiropractic Health Center. Guided tours run from 2 pm to 6 pm. Doctor Donald Sickmeyer leads the clinic.
U S bond market held steady with little price change as long term Treasuries and corporate issues saw muted activity. Treasury yields drifted while foreign trade concerns and rising rates influenced investor demand, and a large Pacific Northwest tax exempt bond bundle neared market debut.
Prices for hogs 18.15 and sows 15.00, up about 25 cents from last Friday. Live cattle and sheep markets show mixed moves with prime loads of steers and heifers selling at highs not seen since January 1963, and hogs closing higher across barrows and gilts. Estimated Monday totals: 6,000 hogs, 1,600 cattle, 800 sheep.
Chicago market notes bullish influence from drought and heat as grain futures rise on Monday and Tuesday with soybeans reaching new season highs. Trade grows while fear of prolonged drought prompts liquidation by Friday as traders await the government crop report and assess crop damage.
Thester theater in Carbondale plans a stock sale starting Monday with a meeting of potential investors directors producers actors and interested workers. Robert Hunt president states shares at 102 dollars with a minimum five shares. up to 10 000 authorized. Three holders own 33 1 3 shares each. meeting at 5 pm at the theater to discuss financing next season’s offerings.
Workmen installed over 7 000 feet of rigid water line from South Division and Vine alley to Crab Orchard Golf Course and Greenbriar subdivision. Cost ranges 12 000 to 15 000 dollars funded by city. Lines tested for leaks Thursday and will be chlorinated before operation. Subdivision inspection and approval needed before connections. Roy Glenn Carterville developer. city to sell water to homes in the subdivision. One home finished, several under construction. golf course expected to connect to the new system.
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