Penn Central Merger Creates Largest Private Railroad System
The ICC approves the merger of New York Central and Pennsylvania railroads, creating the world's largest privately owned rail system with assets over 4.1 billion dollars and 40 912 miles of track. The merged company will operate as Pennsylvania New York Central Transportation Co linking 14 states, DC and parts of Canada with expected annual savings of about 80 million within five years.
MENTIONED IN THIS ARTICLE
New York
Interstate Commerce Commission
New York Central
Pennsylvania
Pennsylvania New York Central Transportation Co
District of Columbia
Canada
ICC
Soybeans Mark Gains For Week
A government report and a crop scare boosted grain futures as soybeans posted the only weekly net gain. Wheat rose on floods and cold, corn held steady, and oats and rye eased amid the market rally in the week ending April 1.
Leveling Off Period Dampens Bond Market Activity
The bond market eased last week in a leveling off period with Treasury refunding a $9.3 million note due May 15 at 3.34 to 4 percent and offering a 4.98 percent 1 month note. Corporate and municipal issues traded lower while New York City bonds showed limited unsold supply at week’s end.
MENTIONED IN THIS ARTICLE
Bailey Urban
AP Business News
NEW York (Ap
Wall Street
Treasury
Chesapeake & Potomac Telephone Co
Virginia
Potomac Edison Co
American Telephone & Telegraph Co
New York City
Credit Rules Help Cause Stock Decline
Stock market posted its steepest weekly drop in ten months as tighter credit rules for small traders were implemented by the NYSE and American Exchange. Volume plunged from 46.7 million to 38.35 million shares as blue chips sagged led by General Motors, U S Steel and Bethlehem steel amid weak earnings and antitrust news. The ICC decision on rail mergers also weighed, with Dow dropping 16.15 to 933.68 and the AP 60 stock index down 7.6 to 343.8 the worst since June.
MENTIONED IN THIS ARTICLE
New York
Wall
General Motors
Georgia-Pacific
Interstate Commerce Commission
New York Central
Pennsylvania
Central
Pennsy
Great Northern
Northern Pacific
ICC
Dow Jones
Associated Press
Steps To Profit Yield Figure Permits Stock Comparisons
Moody's Investors Service explains stock yield as the return from dividends based on current price and compares it to other investments. It describes the price earnings ratio P E and notes recent averages from 14 to 20 with growth stocks averaging 27.1 and income stocks 14.4. It advises comparing P E and yield across peers in the same industry before buying.
Oscar Schafale Reelected to Central Illinois Public Service Board
Oscar Schafale of Marion was re elected to the Central Illinois Public Service Co Board of Directors in Springfield. The board re elected M S Luthringer as president and named Jay Paul Wade of Springfield a vice president effective June 1. The stockholders re elected all board members including J C Happeny who will retire May 31 after 37 years service and others from Mattoon Winnetka Quincy Barrington and Barrington.
MENTIONED IN THIS ARTICLE
Oscar Schafale
Marion
Central Illinois Public Service Co. Board of
Springfield
M. S. Luthringer
Jay Paul Wade
Schafale
Luthringer
J. C. Happeny
K. E. Bowen
J. R. Broderick
J. I. Dil
Livestock Prices Report from Chicago Market
Hog prices show declines from Friday figures with barrows and gilts under 270 pounds down 25 to 50 cents and over 270 pounds down 50 to 75 cents. Sows mostly 1.50 lower. Cattle slaughter figures reflect drops of 25 to 1.00 on steers and heifers, cows steady to 1.00 lower, bulls weaker. Estimated Monday receipts: 7,000 hogs, 10,000 cattle, 500 sheep.
MENTIONED IN THIS ARTICLE
Chicago Livestock Chicago
Police Briefs Report Speeds in Cutler and Murphysboro
In Cutler, Robert W. Hatcher was cited for speeding with a $15 fine. In Murphysboro, Mildred A. Rodrden was fined $13 for speeding.
MENTIONED IN THIS ARTICLE
Cutler
Robert W. Hatcher
Murphysboro
Mildred A. Rowden
Market Totals Show Week’s Gains Across Stocks and Bonds
Weekly sales figures for New York and American markets reveal a rise in stock totals this week compared with last year. Bond activity also climbs with higher values in both New York and American markets, while Midwest stock figures show continued growth from prior reporting.
MENTIONED IN THIS ARTICLE
N.Y
Midwest
Over Counter Stocks Quotation Ranges Listed
The National Association of Securities Dealers presents unofficial over the counter quotations as approximate bid and asked price ranges. The listing includes Albee Homes Bank of America Clark Oil McGraw Hill and other firms.
MENTIONED IN THIS ARTICLE
National Association of Securities Dealers, Inc
Albee Homes Bank of
Amer Clark Oil McGraw Gill Ree Drs
Also Mentioned on This Page
Felon
Industrials
Thurs
Penn
Jack Lesler
Robert Young
The
Chicago
Penn-Central
New York, New Haven & Hartford
the Central
Chicago, Burlington & Quincy
Gardner Ackley
Council of Economic Advisers
National Machine Tool Builders Association
Census Bureau
U.S. Steel Corp
Bethlehem Steel Corp
Youngstown Sheet & Tube Co
Ed Morse
By Roland Goodman
Moody’s Investors Service
Southern Illinoisan
P. O
Dept
Radio City
I. M. Simon & Co
NEW York Stock Exchange
Charles J. Lerner
John L. Uffelman
Wallace F. Springer, Jr
Curtis F. Downen
West Main Street
Charles Dohanich
Carbondale, Ilinois
CIPS
Trust Department
Member
Federal Deposit Insurance Corporation
Carbondale Loan and
First Mortgage
Federal Home Loan
United States
Federal Savings and Loan Insurance Corporation Secondary Reserve
Federal Home Loan Bank
Federal Insurance Reserve
Certified Public Accountants
North Illinois Ave
Carbondale
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