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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
May 19, 1968
Page
33
The Dow falls 13.93 to 898.98 as stock and bond markets turn gloomier amid delayed tax increases, rising gold prices, and tighter monetary expectations. Volume on the NYSE edges down versus last week while the AP average dips to 329.5.
Industrials declined closing today at 9898.98, down from last week's 912.91, as reported by AP Wirephoto.
The piece explains why high grocery costs haunt housewives while farmers suffer low returns. It cites harvest timing, rising middleman costs, consumer demand for quality and convenience, and federal policy as factors driving price pressures and narrowing farmer profit.
Bond prices fell across markets after news of a further delay in tax legislation in Congress. Investors expect tighter money by the Federal Reserve, with 34 government issues selling off. Short-term rates rose to multi-year highs, and corporate yields climbed.
The state Commission of Banks and Trust Companies approved an amendment to the Bank of Harrisburg charter. It raises capital stock value from 200000 to 240000 dollars and increases shares from 10000 to 12000. A capital stock dividend will be paid. Stockholders approved the amendment on April 30.
Mr and Mrs Jesse Burress of Rt 1 Marion offer carpet and upholstery cleaning with free estimates and one day service. Duraclean uses absorption cleaning with six services including spot removal and carpet repair. They attended a Chicago training by Duraclean International. Atlantic Richfield takes a one year option to buy Bear Coal in Somerset Colorado with 5000 acres nearby. ARCO works with Hydrocarbon Research on coal to liquids research. Hydrocarbon may join future coal to liquids in Southern Illinois.
Trading was heavy on the Du Quoin market with prices about steady from last week. Top hogs brought 19 dollars and sows 17 dollars, with varied ranges across hogs cattle feeders and sheep notes including spring lambs and shorn lambs priced per weight and class.
Wheat futures edged higher on the Chicago Board of Trade while corn oats rye and soybeans mostly declined. May oats margins rose to 15 cents a bushel and trade halted at noon Tuesday. Morton J. May longtime department store executive dies at 86 in Clayton Missouri.
The Southern Illinoisan publishes unofficial quotations of over the counter securities. Quotes are approximate ranges between bid and asked prices and reflect no formal exchange data.
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