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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 13, 1962
Page
8
Dividends declared in New York for stockholders of record as of the specified date, with payments due soon. The notice names the company and outlines the payment schedule and eligibility based on ownership.
Chicago June 13 grain futures showed mostly steady to firm trading in early afternoon. Short covering spurred gains across July rye and wheat while corn and oats posted mixed moves as traders weighed potential tight later supply and rust fears in winter wheat.
Washington June 13 Treasury figures compare the current cash position with a year earlier. Balance on June 8 1962 stands at 6.3 billion dollars versus 3.07 billion. Deposits for the fiscal year total 70.8 billion, withdrawals 101.4 billion, and total debt is about 299.8 billion. Gold assets are around 16.4 billion, with debt not subject to statutory limits noted.
In June six market reports spot selling predominated in the cotton textile market with quiet conditions expected as mills shut down in early July. Wool goods were quiet and synthetic goods dull due to mill closings. Dealers note brisk nylon belt sales to converters for spot delivery.
A buyer ordered 100 shares via a New York broker who sent two 50 share certificates endorsed by an unknown. The proper process is that the seller’s signature is guaranteed, the transfer agent cancels the old cert and issues a new one in the buyer’s name, and the buyer becomes stock holder of record. The broker skipped steps. return the certificates by registered mail and demand the correct transfer work.
New York stocks closed sharply lower after a morning rally. International Business Machines fell about a dozen points in late trading. American Telephone Ford Reynolds Tobacco Union Carbide and Liggett Myers all posted losses of two points or more as the market extended the May 28 selloff.
In Cotton New York on June 13 futures mostly eased with July dipping slightly on covering while other months showed scattered liquidation and hedging. Central and eastern belts remained favorable for cotton with later quotes about 20 to 40 cents under or above prior close across July October December contracts.
Kansas City cattle bids show 1600 head with steady to higher prices for steers and heifers. Slaughter classes active with higher slaughter cow and bull values. hogs up 28 to 50. Lambs firm with good demand for choice and prime cuts amid thin testing across classes.
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