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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Aug 08, 1966
Page
18
Ordinary stock or common stock represents ownership in a company and earns dividends from profits. ADRs are U S certificates backed by foreign shares held by a U S bank, traded in the United States, enabling easy dividend payout and transfer without shipping foreign certificates.
New York The stock market finished lower after a light trading day, eroding gains from last week. Key issues ranged from fractions to over a point, with Aircrafts, electronics and airlines among leaders of the retreat. Volume was about 4.6 million shares, versus 5.5 million Friday.
The Federal Reserve Bank of New York predicts a five month rise in business expansion and growing inflationary pressures. It warns that prices may strengthen, with consumer spending boosted by pay increases and Medicare, while government spending also trends up unless major labor strikes occur.
The Treasury reports the cash position and compares it with the prior year as of August 1965 and August 1765. It lists balance around 7.23 billion and withdrawals about 1.24 billion, noting the total debt nearing 13.85 trillion and highlighting the statutory debt limit.
A terse AP note reports irregular trading activity in New York with routine shares fluctuating. The uneasy market mood reflects uneven demand as investors reassess blue chips and smaller issues amid volatile price moves.
Seilon Inc directors announce a 10 cent per share special dividend payable Sept. 1 and two proposed mergers. First half 1986 earnings reach $545,620 versus a $2 million loss a year earlier, with planned acquisition of International Cane Machinery Corp of Tampa and Talleres Vera Cruz of Vera Cruz Mexico pending stockholder approval.
Iran and Pakistan signed an 844.5 million dollar agreement with Reynolds Metals to create a 50 000 ton aluminum plant in southern Iran. Iran will own 65 percent of the shares Reynolds 25 percent and Pakistan 10 percent.
The report notes cotton futures with limited movement amid cautious trading. Prices hovered near the prior close with tentative demand expectations and market estimates suggesting ranges around nine cents per pound.
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