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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 01, 1954
Page
22
U S government bond prices rose in a steady session with the 1961 24s up 6/32 to 11 12/32 bid and the 30 year 3s up 2/32 to 108 26/32 bid. German Dollar bonds moved unevenly while Norway obligations fell and the corporate list showed minor gains.
Richard T. Maus of Tucson was appointed the new chairman of the Arizona aviation authority to replace Harold Woodhouse of Roll who was killed in an airplane crash. Other members named are Guy Axline of Holbrook Leonard Pemberton of Phoenix and Ralph Radcliffe of Phoenix.
New York June 1 Cotton futures held steady in subdued trading. Old crop July found support from mill and export covering while foreign buying boosted interest in new crop months. Weather improvements tempered gains with selling. late afternoon quotes showed modest gains and closes varied from 15 cents above to 25 cents below the prior close.
Market quotes show Canadian and British rates with small changes. Currencies from Belgium France Germany Sweden Portugal and Latin America listed with minor movements. Hong Kong dollar also unchanged.
In a 24 hour window the city fire department logged multiple gasoline leak responses including engines 2 and 1 to various addresses and a truck fire at 18 S Meyer St. Investigations at 1149 N Stone Ave and a false alarm at North Second Ave and East Ninth St were also recorded by engines 1 22 and truck 11.
New York stocks show mixed moves with higher aircrafts and non-ferrous metals leading gains while grains trade unevenly. Bonds hold steady as governments advance. cotton stays steady with slow trading. wheat weak on hedging. corn firm on strong cash demand. oats easy. Hog and cattle prices drift higher, with hogs up to 25 cents and cattle steers up 25 to 50 cents, topping $27.25.
Mild hedging pressure pushes wheat lower with the first car of new crop reaching Kansas City. Export business remains light with only a few spring wheat cargoes to Israel. July soybeans rise on short covering but new crops show weakness due to Midwest moisture. Oats ease while corn holds steady and nearby prices drift.
A C47 air national guard plane carrying 14 men from the Indianapolis Speed Week race crashed near Duluth airport killing nine and injuring five. The dead included seven guardsmen a military member and a retired guard colonel D C Ott. The crash occurred in gravel pits two miles from the airport in murky weather with a 400 foot ceiling.
Legislation to add an estimated 10 million people to Social Security and raise benefits and taxes is before the House for debate under a take it or leave it rule. Backed by the Ways and Means Committee and largely Eisenhower recommendations, the bill cannot be amended on the floor and faces little opposition. senate action pending. It would broaden coverage, raise benefits, boost employer and employee contributions, loosen income tests, and raise the maximum wage base for benefits and taxes from 3600 to 4200.
The cotton textile market was slow to start after a long weekend. Dealers reported scattered sales of 60 square print cloth at 19 cents a yard and the general mill level at 19 cents. Wool goods prices rose on worsted Jersey cloth while Brisbane wool markets were higher yesterday and unchanged today. Rayon goods saw active demand for acetate satins and taffetas.
NOON Young Democrats meet at American Legion with speakers John Finch Douglas Howard and James M Howsare. Optimist Sunshine Kiwanis Rotary Merril L Cleven speak at hotels. United Spanish War Veterans canceled until June 16. Lighthouse on the Desert film UN children fund. SPEBSQSA Dewey lodge JCs guest Robert Salvatierra.
President Eisenhower asked Congress for an extra defense appropriation of 1.1 billion dollars for military construction. An initial announced allocation of 503 million would fund an Alaska Army communications system, with the balance covering Nike missile sites and troop housing as plans await congressional authorization. The request targets the new fiscal year starting July 1 and accompanies legislation under consideration in Congress.
Cattle salable 5800 overall quality lower than prior weeks with slow opening and scattered sales to steady. loads and classes listed with weights and prices for steers cows heifers Brahman calves and canners. Hogs and sheep show slow demand with higher bids on hogs in Chicago and varied prices across regions. calves vealers and sows noted with price ranges.
Ist Mortgage Loans 5 percent to 544 percent Life Inc funds owner occupied homes duplexes and mercantile buildings with 10 and 20 year terms. Quick service refinancing by E. L. Grady at Golden Rule Realty 628 North 4th Avenue.
New York stock market gains fueled by strong demand for aircrafts and nonferrous metals. Kennecott Copper rose sharply to 83,3 percent, St Joseph Lead up 2, Union Carbide up 1, and Seaboard Railroad up 2 to 58. Volume reached about two million shares amid widespread advances and select declines.
Paul H MacGregor of E F Hutton notes rising factory activity and production indices in April and May. Steel output surpasses 70 percent capacity, carloadings gain weekly, and inflation risks loom with fiscal deficits. He cites stock market patterns, United Fruit volatility, and a cautious buy stance on select high grade issues. Closing Dow 327.11.
Henry Dahlberg & Co. along with Bank of America San Francisco purchased 30 million dollars in 2.5 percent bonds for the Los Angeles city school district and Los Angeles city high school district maturing 1955 to 1979. The districts cover the city of Los Angeles and nearby areas.
Chicago butter and eggs display mixed figures with receipts and wholesale prices listed. Butter receipts at 2,437.098 and 47,160 lbs with varied grades. eggs show weakness with 19,622 receipts and lower wholesale buying prices. Los Angeles values outline graded butter, cheese, and live poultry prices for retailers and consumers in cartons and store terms.
London stocks rose on June 1 with the Financial Times Daily index at 151.7, up 0.4 points as traders watched market moves and financial news.
Spot nonferrous metal prices are reported with copper at 30 cents per pound in Connecticut Valley, lead at 14 cents in New York, zinc at 10.48 cents in East St. Louis, and tin at 94.2 cents in New York.
Divorce complaints and decrees across multiple divisions and parties. debt claim against The State of Arizona case. name change order. dismissals. Births at Davis-Monthan and Tucson General Hospital list several infants with timestamps and parents. Obituaries note Contreras Fassett McMullen Pauley Stone Walenz with funeral details and local services.
Contractors may obtain complete specifications for bidding to install a full refrigerated air conditioning system in the Base Exchange Cafeteria and Retail Stores at Davis Monthan Air Force Base. Sealed bids must be submitted to the Base Exchange Officer by June 30 1954, with contact by June 14 1954.
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