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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Dec 21, 1956
Page
22
The edition shows 1 p.m. quotations with higher stocks as industrials rally. Bonds mixed while governments improve. Cotton steady with hedging and liquidation. Wheat mixed with old crop firm and new easy. Corn easy with hedging pressure. Oats steady with small price changes. Soybeans firm as cash beans move from Chicago. Hogs mostly steady to 25 cents up. Cattle steers nominally steady.
A Christmas buying mood boosts the stock market with a strong rally in industrials. Volume nears 22 million shares as many blue chips advance from fractions to about two points aided by better corporate reports and easing tax pressure. Major gainers include Lukens Steel, U S Steel, Bethlehem, Aluminum Ltd, Union Carbide, Chrysler, General Motors, and several others.
Senator Barry Goldwater announced completion of a sewage disposal plant at Hoover Dam is expected soon. The plant aims to prevent contamination of waters released into Lake Mohave and the Colorado River amid fishermen and Arizona Game Protective Association complaints about polluted water samples up to 60 miles downstream during low summer flows.
A fragmented OCR listing shows dividends and stock movements for several companies including Stone Container, Towmeter Corp, Best Foods, and American Can. It mentions increases, year end figures, and regional mentions such as East States, GateS, and Bi-State. Names like Detroit and Dominion Bridge appear in scattered form amid a dense financial ledger.
Foreign currencies show little movement with major pairs flat. Portugal at 330, Sweden 556, Switzerland franc unchanged. Argentina 238 and 130 steady. Mexico and Venezuela also unchanged. Hong Kong dollar remains at 1188 with no changes reported.
The News Bureau reports November cotton consumption near 3,000 bales with minor gains. Market activity shows steady demand and prices holding. Trading notes reference arch street May 328 and ally 2358 in the period context.
Reports from Philadelphia indicate the Quartermaster will soon solicit bids for wool serge and related fabrics. A balance of several thousand yards will be reserved for main textile items as price increases persist.
Memphis December 20 bulk quotations for cottonseed meal show prime or percent protein gradings. The report lists class 0 and 40 price ranges with coded figures and references to quality notes, reflecting market conditions for bulk cottonseed meal and meal products.
Port Said Egypt ex change of prisoners clears last stalls in British French drawdown. 386 Egyptian POWs handed to UN force after noon. Egyptians surrender 450 British civilians to UN troops moved by train into buffer zone near El Cap. Vice Admiral Slater says hundreds of salvage fleet volunteers will stay under US and UN protection including 430 Royal Navy men.
Dr. Miguel Carreras has been named president of the board of governors at Pima Hospital, with Dr. Derickson as vice president and Dr. Ian M. Chesser as secretary, to take office Jan. 1. Outgoing president is Dr. E. L. Kettenbach. Carreras was elevated from vice president. Derickson served as secretary this year.
COFFEE NEW YORK reports December updates on Santon No. 4 ex-dock closure at OMA with Cent and freight offerings featuring Santon Bouchooean't steam and the 3035 Dee.
Trading in the Pacific market showed mixed results with cautious moves in U S and European bonds. Analysts cite inflation expectations and central bank guidance as factors shaping yields and demand as investors reassess rate paths and risk.
The New York market analysis notes widespread bearish columns yet argues inflation will lift stock weighting. It cites rising crude costs, steel price hikes, and freight rate increases as foreshadowing higher prices. Technical Dow action is strong, with a 495.09 close and a psychology barrier near 800, suggesting a New Year rise.
KC market notes show cattle demand mixed with small runs. Calves and hogs in shorter supply, prices quoted for various grades. Report mentions ongoing activity, lighter demand for certain weights, and a generally steady to uneven market across categories.
Saburo Nango, managing director of the Japan China Export Import Association, said in Peiping that Japan’s exports to Red China this year will amount to double last year. He told Peiping radio that if the embargo is relaxed next year trade could rise about 70 percent to 100 million U. S. dollars from each side.
The Colorado River is closed to boats between Lees Ferry and Wahweap Creek due to Glen Canyon Dam construction. E. O. Larson of the Bureau of Reclamation cites blasting and scaling work as unsafe. Two shifts are on site with a third to follow, extending the ongoing project.
Miami investigators report a 12 year old boy Howard Baker died by strangulation from an old necktie tied to a door latch. The death, initially treated as accident, prompted an autopsy. Parents Henry R. Baker and wife said Howard had retrieved the tie from the trash three times before the incident occurred while the mother was briefly away.
The Liguria discharged 42,000 barrels of diesel at Rota to test a 500 mile pipeline linking U S bases across Spain. Oil from Augusta Sicily flowed into storage at the Cadiz Bay naval base as a future system to hold 280,000 barrels. The project stems from a 1953 aid for bases treaty between the United States and Spain.
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