Rise Falters As Blue Chips Pale
The stock market opened higher but faded in late trading as blue chips weakened. Volume was about 9.5 million shares, with the Dow nearing a new high before thinning. steel and rail issues led gains, while several major names eased. Alleghany and AMF showed strong turnover, with mixed results across industrials and tech-related issues.
MENTIONED IN THIS ARTICLE
New York
Sinois Central
New York Central
Pennsylvania Railroad
Steels
Jones & Laughlin
Lukens
du Pont
General Electric
Kennecott
Jersey Standard
Alleghany Corp
AMF
McDonnell Aircraft
Meredith Publishing
Allegheny Ludlum
Chicago Great Western
Western Air Lines
Eastman Kodak
Douglas Aircraft
U.S. Smelting
Anaconda
Phelps Dodge
Northwest Airlines
Litton Industries
National Aeronautical
Gulf & Western Industries
American Stock Exchange
Norameo
Solitron
Massey-Ferguson
Philips Electronics
Seven Arts
Walter Kidde
Alan Wood Steel
Barnes Engineering
Louisiana Land
Mead Johnson
Molybdenum
Muntz TV
Alamera Oil
Syntex
Warrants
Livestock Market Report From Kansas City
Kansas City market report shows cattle with insufficient numbers in one class to establish a market, hogs 2,500 head moderately active with barrows and gilts steady to 16.50 lower, sows steady to 25.00, weights 90 to 500 pounds. Sheep buyers unavailable as not enough sales to form a market.
MENTIONED IN THIS ARTICLE
Kansas City
American Stocks at 2 P.M. New York Prices
U.S. stock prices shown at 2 P.M. in New York reflect broad market activity with notable performances from major banks, industrials, and tech equities. Trading ends with mixed results as investors weigh earnings and macro signals.
United Air Lines Chief Patterson to Retire
William Patterson, head of United Air Lines since 1934, said he would retire as chairman and chief executive officer. He stepped down as president in 1963. Patterson, 66, did not announce future plans and is a native of Honolulu now living in Wilmette, Illinois.
MENTIONED IN THIS ARTICLE
New York
William
Patterson
United K Lines
May
Honolulu
Wilmette, Ill
Ford Sees Mild Inflation Ahead for 1966
Henry Ford II, Ford Motor Co. chairman, predicts mild inflation with no auto market strain in 1966. He cites rising real income, tax cuts, growing employment, and low unemployment as drivers of consumer demand. Ford raises four year expansion to 2.6 billion and plans 800 million in 1966 plant and equipment outlays, 500 million in the U.S.
MENTIONED IN THIS ARTICLE
Detroit
Henry Ford II
Ford Motor Co
Ford
Frederic G. Donner
General Motors
U.S
United States
Cotton futures drift as incentives support quiet market
Cotton futures were quiet with no trades as incentives supported prices. The Census Bureau reports November domestic consumption at 10 440 bales versus expectations near 745 000 bales, with March at bid May 28 25 bid and July 27 45 bid.
MENTIONED IN THIS ARTICLE
New York
Census Bureau
Bate
Tin Marketing Pact Endangered
The International Tin Council remains tight lipped as Malaysia refuses to sign the international tin agreement. The pact needs nine consuming countries and six producing countries by year end, risking collapse if major producer Malaysia, holder of 440 of 950 producer votes, withdraws.
MENTIONED IN THIS ARTICLE
London
International Tin Council
Malaysia
Hart Schaffner Marx approves 3 for 2 stock split
New York based Hart Schaffner Marx directors authorize a 3 for 2 stock split payable February 4 to holders of record January 14. The firm also declares a quarterly dividend of 30 cents a share, 5 cents higher than prior quarters.
MENTIONED IN THIS ARTICLE
New York
Hart, Schaffner & Marx
Retail Sales Rise in Week Ended Dec 11 1965
The Commerce Department estimated retail sales at 6.64 billion dollars for the week ended December 11, up 5 percent from the prior week and 7 percent higher than the same week in 1964.
MENTIONED IN THIS ARTICLE
Washington
the Commerce Department
Martin and Johnson clash over how to manage inflation
In plain language, the disagreement centers on the Federal Reserve's rediscount rate and how to curb inflation without stifling growth. Martin argues for tighter money to discourage excessive credit, while Johnson seeks broader payrolls and purchasing power with voluntary price restraint.
MENTIONED IN THIS ARTICLE
J. A. Livingston
Liz
Johnson
William McChesney Martin Jr
Federal Reserve Board
Martin
Lee
Reserve Board
Chase Manhattan
New York
Pennslvania
Philadelphia
Ilinois National
Chicago
Bank of America
Federal Reserve Bank
Council of Economic Advisers
Money Market
Federal Reserve
Far From Over Liquidation Of Steel Inventories
Iron Age magazine reports steel inventory liquidation remains extensive and will linger into the first quarter of next year. Some areas still offloading strike hedge stocks while shipments stay higher than expected through year end. The industry set a shipments record with nearly 6 million tons in November and over 86 million tons in the last 11 months, surpassing last year’s 84.9 million tons.
MENTIONED IN THIS ARTICLE
New York
Iron Age Magazine
Iron Age
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