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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Aug 05, 1955
Page
17
Chicago markets show soybeans firm while wheat weakens to new weekly lows on improved crop prospects. Corn nudges around prior close with traders eyeing potential showers. oats and rye also retreat as lard gains exceed a dime.
Livestock markets report cattle, calves, hogs, and lambs in Los Angeles Chicago Denver and Kansas City. Cattle mostly steady with limited supply. hogs up 25-50 cents in Chicago amid small receipts. cattle and calves priced across utility to prime ranges. Lambs and sheep show varied demand with mixed prices across regions.
New York August 5 updates show Canadian dollar at 101.62 U S cents, British pound around 2.78 dollars with small fractional changes, and multiple European and Latin American currencies listed with minor adjustments. Market for Far East includes Hong Kong dollar at 17.50.
Stocks higher as aircraft shares lead a rally while bonds show mixed gains and losses. Grain markets turn uneven with cotton and oats easing and wheat sparking revised crop prospects. Hog prices rise 25 to 50 cents with a top of 16.50, cattle steady with steers pricing to 23.00.
Chicago Pneumatic Tool Co. reports six months ended June 30 net income of 2,787,748 dollars equal to 248 dollars a share, up from 2,652,621 dollars or 2.31 dollars a share in the same period last year.
Dividends were declared in New York with rate and period details noted. The notice lists stock to be paid to shareholders of record on a specified date. Further specifics on payables and amounts appear in the official filing.
Coffee traders report Santos No. 4 futures slipping across several months while Spot offerings show Santos Bourbons at 4.50 to 34.75 and Ss at 53.50 to 53.75. Santos No. 4 S futures fall about 3 to 25 points with Sep 52.49 and Dec 47.25. Mch 45.24. Santos BB futures rise about 8 to 85 points with May 44.20 and Jiy A2.95. M futures gain 5 to 50.75 with Sep 61.75 and May 30.21. N-Nominal.
The Associated Press reports the weighted wholesale price index of 35 commodities at 170.71 today, up from 170.16 yesterday and 170.30 a week ago, with year figures at 171.00 and a long term average near 100.
The bond market showed a narrow mix with rail steel and oil issues advancing slightly while chemicals and utilities slipped. Treasury obligations were firmer in quiet trading. corporate bonds were nearly evenly split between gains and losses amid thin volume.
Chicago market notes butter steady with receipts 958,285 and wholesale prices unchanged. 93 score AA at 57.25, 92 A at 56.75, 89 C at 52.25, core 90-55 and 89 C 53.5. Eggs firm with receipts 11,740 and wholesale buying prices unchanged to 2 higher. U S large whites 60-69.9, A's 3:41, mediums 3.5, U S S stands 34.5, dirties 28.5, checks 28, current receipts 30.
In dry goods circles from New York Aug 5 business in textile markets was quiet as hot weather and an approaching weekend reduced demand. A few Osnaburgs sold to bag trade while prices for cotton textures and most rayon constructions stayed firm.
Wool tops and wool futures faded in New York trading with Oct through Dec contracts down 12 to 15 cents. Certificated wool spot and tops quotes slipped, with several months showing declines and bids listed as nominal or measured in tenths.
New York stocks end up as trading remains unusually calm after a slight rebound from yesterday's drop. Major gains include Monsanto Chemical and General Dynamics, while losses are small. Volume runs about 1.6 million shares, among the slowest days of the year.
Cotton futures moved within narrow limits in quiet trading as hedging and pre report adjustments dominated before the government cotton crop report due next Monday. A Washington note that Secretary Benson will tour Western Europe to promote surplus farm products lent support. Liverpool weakened on talk of US price programs. October 33.67, December 33.88, March 33.78. Closed 30 cents lower.
Flour in 106 lb cotton sacks remains unchanged at 7.55 for standard patents 5 cents and family patents unchanged at 7.55. Market notes from Minneapolis dated August 4 report price stability across sack types and patent categories.
Sugar futures in New York rose for September to 5.57, No. 6, while No. 4 world futures eased to 3.19 for September and 3.22 for March. Raw sugar spot around 6.07 with slight bid.
Crude rubber futures closed 1 1 5 to 1 5 percent higher in New York trading with September at 48.40 and December 48.05. Other contracts ranged from 47.15 for March to 45.05 for January and spot No 1 ribbed smoked sheets quoted at 47.4 for 4N.
Memphis notes announce bulk cottonseed meal futures on the prime 41 percent protein basis with Oct at 50.75 to 51.00 and Dec 51.10 to 51.45. Jan 51.25 to 51.70, Mar 50.75 to 51.70, May 50.75 to 51.70, and July 50.75 to 51.70.
Boston report quotes Robert S. Kretschmar of the American Automobile Association noting that over half of new cars show speedometers that run slow. He urges annual checks since even accurate gauges drift after 15 000 to 18 000 miles.
The State Game and Fish Commission will issue 3,600 turkey hunting permits, down 1,534 from last year, marking the first shotgun season since 1925. Also approved are 400 elk units on Fort Apache and 100 on San Carlos land, plus buffalo removal at Fort Huachuca on December 10–11.
In Denver retired Army sergeant Raymond La Flamme says heat likely affected the payroll machine that generates his monthly retirement check of 128 dollars and 40 cents. He received a check for 989 thousand 886 dollars and 28 cents yesterday and returned it.
The Interstate Commerce Commission authorized the Kansas Missouri Texas Railroad Co to withdraw a pending plan to revise its capital structure through new securities. The proposal had been pending since late 1952 but is dropped because a majority of current securities are held by opponents of the recapitalization plan.
In Vallauris Picasso organizes a Sunday bullfight fiesta with three Spanish matadors against six bulls. Bulls will not be killed to comply with French law. The 73 year old Picasso will lead a parade through Vallauris the eve of the event, after organizing a similar fiesta last year. He lives in Cannes in a villa bought last spring.
U S Air Force weather personnel of the 1st Weather Wing planned a gala outing in Tokyo but rain washed it out. They had brought picnic baskets with sandwiches and cold beer, yet the event ended quickly as showers moved in.
A British chiropodists council urged members to develop tactful methods for telling women their feet are too large. The council secretary noted patients who hear they need bigger shoes may leave in a huff, prompting search for kinder approaches.
The Arizona section of the American Society of Civil Engineers meets in Flagstaff on August 13. The summer gathering will include an excursion to the Museum of Northern Arizona.
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