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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Dec 09, 1957
Page
29
The edition reports 1 p.m. quotations with stocks lower on the day. Bonds show mixed results with corporates up. Cotton steady with trade buying and short covering. Wheat mixed with old crop higher. Corn and oats mixed. Soybeans lower. Hogs higher while cattle fall. Dow Jones 2:30 p.m. stock averages noted.
The Chicago market reports butter receipts totaling 72,000 in wholesale purchases as buyers signal strong demand. Traders note steady shipments and price support amid rising commodity activity in the region.
Prices unchanged with small shifts in livestock and dairy. Receipts show mixed eggs at lower wholesale bids and slight declines for certain grades. Meat and car prices noted with minor variations and overall steady market tone.
Senate investigators heard Elzie R. Clements describe a dynamite blast that destroyed his Nashville barber shop on December 18, 1953, after he refused to join the Barbers Union. He also cited repeated window smashings and damage to tools as pressure amid a Teamsters dispute. contractor Robert McDowell linked a separate $100,000 TVA property loss to his refusal to sign with the Teamsters and said police arrests were not reported.
London reports say U S Defense Secretary McElroy pressed Britain for tighter political oversight of American bombers missiles and rockets based there. He planned talks with Duncan Sandys Selwyn Lloyd and Harold Macmillan as he considers joint bases and a possible naval command.
Lord Beaverbrook's Sunday Express urged Britons to launch their own satellite rather than blame the United States for space setbacks. The paper warned that Britain has no position in the space race and is not even competing.
Arizona livestock market mostly steady with slow to moderate activity. Slaughter steers and heifers steady to higher on some loads. calves and feeder cattle show mixed gains with several loads quoted on carcass basis and live weight. About 850 cattle and calves sold through week end with activity largely steady and some high utility cows firm.
Los Angeles markets show strong as in hogs with U S No 1 3 195 200 lb 19 00 230 50 mixed grades. Cattle in Chicago and Kansas City mostly steady to lower with high choice steers 26 50 27 50 and cows 14 50 18 00. Denver and Denver area notes show calves steady to strong with slaughter calves 30 100 24 50.
Rescue workers push through swamps and flooded roads to reach Vallimanca in Buenos Aires province where an Argen tine Air Lines DC4 crashed after takeoff from Buenos Aires. All 61 aboard perished including 55 passengers bound for San Carlos de Bari loche and six crew.
Police arrested Marion Donovan aged 42 of 3738 South 7th Avenue yesterday for aggravated assault stemming from an alleged beating of his wife Guadalupe Donovan 27 who suffered severe facial bruises and a possible broken nose. Donovan was also charged with being drunk.
New York December stocks drifted lower with a 2.2 million share day on light volume. Steels led losses as output hit a yearly low, while aircrafts rallied briefly on spending hopes. Major declines appeared in U S Steel Bethlehem and 20th Century Fox, with some gains in Paramount and Crescent Corp amid mixed trading.
An economic analysis argues the Fed's monetary policy caused the 1955 1957 downturn and predicts an upturn by the second or third quarter of 1958. Easier credit, residential building activity, and a rising consumer outook should lift manufacturing, autos, steel, and construction, with selective stock picks like Johns Manville and U S Gypsum. Closing Dow Jones is 448.87.
Secretary to the Teamsters credentials committee testified in federal court that no signatures were checked on delegates' credentials at the Miami Beach convention. The move relates to a bid to void James R. Hoffa's presidency amid a dissident challenge linked to Local 140 and Walter Whitney.
Cotton futures moved over a wide range as the December crop report from the Department of Agriculture influenced trading. The department estimated the 1957 crop at 11,010,000 bales as of December 1, below last month’s forecast, with late trading showing 29 cents higher to 34% for nearby and deferred months.
Albany reports the New York State Thruway will cost about 1.35 million dollars to keep 477 miles ice and snow free this winter. Six hundred maintenance workers will run over 550 snowplows salt spreaders and scrapers. A pilot board with direct radio links directs crews from Albany headquarters aided by U S Weather Bureau forecasts and a private service. Twenty section HQs hold 400 tons of salt each to combat snow and ice.
The New York Times reports the Eisenhower administration will seek authority to cut tariffs up to 25 percent over five years as part of a foreign trade program. Proposals, to be detailed today by the state and commerce departments, aim to extend the reciprocal trade agreements act and spark a major policy battle ahead of Congress.
The New York market shows mixed shifts in currencies and futures. Major pairs include the pound at 2801/32 and the Canadian dollar at 103.03 U.S. cents, with several European and Latin American currencies listed as unchanged or minimally changed.
Three out-of-state truck drivers lost cash totaling 213 dollars and Christmas presents worth 71.50 in a night theft. Victims were Harry Pearson of Washington DC, William Hairston of Columbus Ohio, and Arthur Jones of Montclair New Jersey. They parked on 1100 block North Alder Avenue behind Duke's Drive Inn while dining at 1148 North Main Ave when thieves struck.
The New York cotton textile market was quiet as traders anticipated the December crop report indicating 1897 production at 11,010,000 bales. Some futures selling emerged while spot sales of popular print cloth appeared at mills. Wool demand remained limited with Australian wool down five percent on private advices.
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