Stocks Slide Then Rally on Fed Rate Move
New York stocks fell sharply after the Federal Reserve raised the discount rate to 4.25 percent, triggering a broad market selloff. By mid afternoon the Dow recovered some losses but remained down, with volume around 12 million shares. Several blue chips dropped while gold miners gained, and bond yields rose as investors priced in tighter credit.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve Board
Johnson
Fairchild Camera
Xerox
Texas Instruments
IBM
Polaroid
Zenith
General Motors
U.S. Rubber
Boeing
American Dyanamid
Air Reduction
U.S
Eastern Air Lines
TWA
Chicago Great Western
Household Finance
General Electric
Ford
General Dynamics
Douglas Aircraft
Raytheon
Kennecott
American Smelting
Allied Chemical
Union Carbide
High Voltage Engineering
New York Central
United Airlines
American Tobacco
Pfizer
Hertz
Magnavox
Collins Radio
Campbell Red Lake
Homestake
Aor
Ltichticd
P&l
Ie Ritter
Russ Toas
Curtis Pub
Bies Rongers
Ryder Sys
Ryan Aero
Koppers
Korvette
Curtiss Wr
Krevec
Safeway
Addressey Uy Ee
Cutler
Cyprus
Lanvin
Scheniey
Barco
Lear
del & Hud
Lehman Co
Alfied Ch Vda
Tn Lehn & F
Mie
Alfred Kid
Detva Air
Allied Pd
Delta
Aie Ab AL
Allied
Lid McNel
Searle
Allis
City Tulip St
Sears Road
Seeburg
Alana
Disney
Loews
Bea
Iwis
Demin
Leone
Lttt
Simmons
el Pw
Lofiltard Ae
Sinclair
Awe
An Dornrtiey Sova
Enka Beug Aire
Smith
Lukens
Socony
DWG
Macand & F
AO Bove
Dynam
Macy Madison
SBM
G &F
Arm Optical
Swarton
Sperry
Maremont
Saton Ayia
Jou
Tava — &m
el Star Bat Shey Martin
Masonite
My Elect
Mattel
Elect Spec
Se Ltd Press U
Telalah
Paso NG
le Maytag
Eltra Corp
MCA Inc
Embhart Corp
McCord
Stevens
Ik Talia
McDen
Stoke van Cay
Ander Clayt
Erie
McDen Air
Aniken
Ie Evans
McGraw
Stone & W
Arch Dan
Ma Evans
ATS Aly
S Ariz
Evershara
Ariens
Ada
le Studebaker
Gec
Armour
Alice McLouth
Armet
Mnell Corp
Sucrest
Connecticut Valley
Fair Hiller
Mead
Ala Sun
East St. Louis
Ch & S
Guick- Acraldt
Agronca
Sunray OX
Ait City
Cara
Sunsi
MGM
Atlas Co
Swift Mb
Ashe
Allen Cp
Am Electron
Atlas Credit Vor
Ferro Cp
Rey
Ross
Miles Lab
Avco Cora
Vase Miner & Ch Tampa
Ark-La Gas
Aynet Inc Ayon Pri BA
Oi & G
Ie Firestone
M&m
Texsca
Ps i Ad Research
Bebcock
Atlas Consol
Ma Bakerie
G&e
Tex Gas
Bald Mont
Baxter Lab
Tex Oikgas
Manufacters
Hanover
Banff
Denver
Ty Fusterman
Morgan Guar
N.Y
Barnes Eng
Ae — Food Fair
Greater Arit Sav.sa Pa
Bonanza Air Lin
Beckman Wi
Akis
Horigan Land
Regina Life
Bae Aa Fmc Co
American Fidelity Gife
Mont Ward
Lily
Eli
Be Intal Ltd
Bell & How
Marrell
Tide Oi
Ats Abms
Butlers
Bell
Motorola
Bendix
ATV
Lusk Common Farm & Home Life
Renavel
Toleda
McLean Ing
Fidelly Bankers Life
Wa Beth Steel
Munsingw
Torring Co Azm AnVy
Mamarex
Franklin Life
Carnation Bo Bigelow
Vb Murphy
Si Trane Co
Isa A - Ma
Ba Murphy Oi
Tran
Vie
ASV
Christian
Fon
Ase Ng Blaw
Ma Transarmer Cya
Peter Paul
Wat Greatamerice
Nave
Pubca
Hartford Fire
Cinerarma Bliss &Lum
Garlock
Natco
Resoy Bata Clary Co. Sin
Bliss
Ramada
Soha
Scient Oats Ison Ltd
Az Ally
Orve
Va Industriais
Ta Shakespears Co. Sa
West Asch & Gen. Inc
AV Air Old Line Life
Cooper Jar
Phila
Life
Aise Trywide Rity
Borden
Anheusee-Bus
Teledyne
Creole Pet
Asreo
Arden Farms
Frt. Inc
Gen Cigar
Nat Dairy
Ariz
Ano. Chem, Core
Dynem
Tsui
Artec Gil & Gas
Ase
Asvs
Philips LP
United Service Life
Devon P. City
Boston & Me
UN Carbide
Bayless
Brach&s
Brunswig Drug
Arizona Bancore
Citz. Util
Wis Duval Core
Briggs St
Wu Ale Ave
Gen Mills
Nat Lead
Gen Motors
Nat Steel
Chemical Bank N.Y. Te
Gen. Electric
Ea Bale
Equity Cp
Bklyn U Gas
N.m.i
Esquire Corp
Togary Ata
Neisner Ton
Air Lin
Guy
Trans
Fargo Otis
Lucy Erie
Aire
Tucson
Bydd
Ar Wa
Neptune
Bullerd
Nevada
Beimt
Bulova
Newberry
Bunk Hill
Pia Firth Sterling
Burroughs
Gerber
Brentier Airy Aa Gilletts WE
Calgon Corp Bora
NY Central
Caliah Mag Ag
Glen Aidy
Calum
Greer Hyd
Élae
Ar Globe
Gulf Am
Csn Ory
Beau Goodrich
US Lines
US Pipe & F Br
Hendiemarrie
Goodyear
Mia Sa
Tal
Carborun
Gould Bat
Caro Pal Bt
aBby
Grace Co
Nor Ind
Carcier
Ole Hov Va
Nefm Ind
Carr & Gat
Norton
NoRy
Norwich
Univ
Cen
Ae Ray 204
Jupiter Co
Ye Can
Greyhound
Kaiser Ind
Cen & SW
Grolier
St Oy Ghia Edis al
Gulf Ach & O
Kirby Petre
Cessna
Gulf Oil
Otis Elev
Swm
Varian
Lenox Inc
Gulf & We Snd
Owens Coo
Vasco Mer
Levitt Sons
Wee
Chase Manh Bk
Ty Gust
Vornado
Menasco
Chesebrou
Walgreen
E Walker
Molybden
Harris Int Oy
Monogram Industries
Chi Musicarie
Harsco
Morse & Pd
Chia Anw
Walworth Ava Am
Chi RI
Warren
Chi Title
Aly Ly Hare
Parke Davis
Chris
Beth Netional
Chrysler
Penney, JC
Westest Tran
Newal Inc
Velo Cin Mian
Dewlett
Finan
Mae
Pwell Bal
Hon
City Proggi
Hosart Mia
Peoples Gas
Westy
Weverhaeuser
Hornestka
Perkin Elma
Wickes
Collins
Ty Phelps
Wilson & Co
Pancoast
Colon Co
Johnsen
Phil
Rdig
Elgor
Philie Mor
Imans
Piliston Co
Bae Ty Sale
Sat Corp
Sparry Rand
Bullman
Statham
Cania
Jay
Jae
Troma
Javiis
Steaot Reich
van UN Cano&g
Corning & A
Dan & Jona
Repub Corp
Don Loaan
Adler
Vadanes
Cran AgTy Aly
Wilshire
Cork
Treasury Balance and Withdrawals Reported Amid Turbulent Fiscal Year
The Treasury reports the cash position against corresponding balances with figures showing deposits and withdrawals for the fiscal year. Large totals are cited, including a balance near 427.8 billion and withdrawals around 444.1 million, reflecting activity through early December.
MENTIONED IN THIS ARTICLE
Washington
Treasury
ABC staff pledge avoids merger with external control
American Broadcasting Co. Inc. told employees there would be no merger with any party unless ABC’s present autonomous management and operation continued. Leonard H. Goldenson, president, sent a letter after reports that ABnG! and ITT were considering a merger.
MENTIONED IN THIS ARTICLE
New York
American Broadcasting Co. Inc
ABC
Leonard H. Goldenson
Abng
International Telephone & Telegraph Corp
Dry Goods Market in New York Sees Steady Cotton Textiles
The cotton textile market remained steady with light offerings and converters buying small quantities for spot positions. Wool goods were quiet but prices held firm at Australian wool auctions. Synthetics saw light sales of acetate taffetas and satins to converters for delivery in Q1 next year. NASD quotations at 9:15 am reflect inter-dealer prices with adjustments for markups.
MENTIONED IN THIS ARTICLE
New York
Tucson Stores Hire More Christmas Help Amid Busy Season
Turpin on business notes Tucson retailers boost holiday labor with part time sales and clerical posts. Arizona State Employment Service cites 463 sales clerical openings in November up about 100 from last year, as newcomers keep labor supply competitive despite some housewives declining seasonal work. The article highlights cheerful workers, evolving pay, and pressures from busy shops in Tucson.
MENTIONED IN THIS ARTICLE
Tucson
John Butler
Arizona State Employment Service
Butler
East Side
New York
Catlan
Ison
ASES
Pennzoil joins Prestolite spark plug network in Tucson
Pennzoil Distributing Co of Tucson is added to the Prestolite spark plug sales organization, announced by Prestolite sales manager Dan Noe. The brief also notes Shamrock Dairy previewing its film Highway to Health for schools and civic groups readied by Tucson talent Al Runkle and Larry Schnebley.
MENTIONED IN THIS ARTICLE
Pennzoil Distributing Co
Tucson
Prestolite Co
Toledo
Ohio
Prestolite
Dan Noe
Shamrock Dairy
Pacific Power to list common stock on NY and Pacific exchanges
Pacific Power & Light Co announces both the New York and Pacific Coast stock exchanges have approved listing its common stock for trading. The Portland based utility notes it has more than 15 million shares outstanding and a listing date of January 3.
MENTIONED IN THIS ARTICLE
Pacific Power
San Francisco
Pacific Power & Light Co
New York
Pacific Coast Stock Exchanges
Annus Pref Regulation 9 and Active Investment Preface
A brief note outlines Regulation 9 and active investment within the current operating framework. It highlights regulatory parameters and the role of market activity in shaping fiscal policy.
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O'okiep
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Los Angeles
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Fabher
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Turpin
Ted Turpin
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Howard E. Quiggle
Minneapolis
Kenneth J. Bayly
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W. A. Olson
Tucson Trade Bureau Bulletin
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Arizona
Southern Arizona Bank and Trust Company
Reed Stock Fund Financial Report
Common Stock Fund
E. Broadway
Greater Broadway Development CO