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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 14, 1957
Page
19
Dividend announcements list rate and period details for stock dividends with payables and record dates to be determined by each company. The brief note notes June 13 as the date of declaration and suggests forthcoming payable dates and record dates.
Today's closing values feature lower stocks amid profit taking and quiet bond trading. Commodities swing with cotton higher on buying, wheat strong due to crop damage delays, and corn firm with wheat. Hog prices steady to up, cattle mostly steady to lower, soybeans weak with July futures down. Dow Jones final averages noted.
Firestone Tire reports six months ended April 30 net income of 28.43 million or 34 a share with sales of 9.95 billion. Braniff three months ended March 21 shows earnings per share data. Douglas Off Co of California posts 1957 fiscal year earnings of 953,443 with a prior year of 236,? cents per share. South American Gold & Platinum Co estimates first quarter earnings at 656,290, more than double 292,276, or 4 cents per share versus 23 cents in 1954 months.
New wool tops futures began trading with the October 1954 delivery as the first month under the new contract, traded alongside the old, with liquidation and hedging seen in nearby July. The October 1958 premium rose over July 1958, and spot wool prices remained firm, while Tops futures edged lower across months.
Western Office Equipment hosts an open house at 202 S. Tucson Blvd as part of a regional shift by office firms from North 4th Avenue toward the city center. The move, cited to reduce transportation costs, involves IBM Arizona Cash Register Allied Business Machines and others, with Allied merging into Western. Also noted are awards and appointments in banking, insurance, and sales management, including a $250 research award to Thomas Ned Wilde and new roles at Valley National Bank and Grabe Electric Co.
Rubber rex futures ended 20 to 2 percent down in New York trading on June 13 with July at 33.208, September 32.85, November 32.658 and January 2 OB. No. 1 ribbed smoked sheets quoted with bids and nominal levels.
In Minneapolis on June 13 the market shows no change for flour in 100 lb cotton sacks with standard patents at 6.35. bran up 8 to 36.50. middlings up 100 to 37.00. red dog unchanged at 43.00. Shipments and other listed items reflect similar stability.
Treasury bonds listed with bid and asked prices across multiple issues. Yields vary by term with several maturities cited for June and December deliveries. Prices shown in dollars with notes on federal tax treatment.
Cattle and calves show steady to higher values in Los Angeles Chicago and Denver with few cattle supplies. Hogs stay largely steady to higher in several markets, with midwest and western centers reporting narrow ranges and some standout lot prices. Sheep remain minimal across reported regions.
Butter steady with 2,034,000 receipts and wholesale prices mostly unchanged to slightly lower across grades AA to C. Eggs steadier with 13,600 receipts and wholesale buying prices unchanged to higher, white and mixed eggs quoted around 31 dollars per hundred for several grades.
In Little Falls Minnesota a late winter blizzard delayed births as Mrs Donald Yasgar had to ride in an automobile wrecker to reach Little Falls Hospital. Mr and Mrs Loren Gunderson of Bowlus arrived in a truck while Little Falls police aided Mrs Douglas Feakes to the hospital, taking an hour and a half to cover a few blocks.
Cotton futures rose as New Orleans and commission houses bought distant months. Nearer deliveries firm due to short covering and stop losses. Hope for soil bank program for 1958 crop spurred demand for later deliveries. 1957 crop hedge selling softer. late afternoon quotes show July 6.31, Oct 34.68, Dec 67.
Memphis June 13 cottonseed meal bulk market lists futures quotations on a 41 percent protein basis with Jig 48.60 to 48.90 Sep 48.60 to 49.00 Oct 46.35 to 48.75 Dec 48.35 to 46.75 Jan 48.35 to 48.75 Mar 48.35 to 48.75 May 48.35 to 48.75.
A revised less stringent minimum housing ordinance faces another Tucson City Council hearing led by Ward 6 Councilman Frank G. Gonzales. City Manager Porter Homer says a public hearing is advisable before action, with penalties for noncompliance and aims tied to federal slum clearance funds in a $1 million urban redevelopment plan. The original draft was by Warren Walker in 1954.
W. P. Fuller & Co purchases a site on South Park Avenue at E. 18th Street in Tucson for a new sales office and warehouse. The corner lot, 188 feet on Park and 160 feet on 18th, cost about $25,000 from John S. Sundt. The firm plans a start early next year with plans by a San Francisco office and a local architect. The current address at 522 North 4th Avenue will close when the new building is occupied. The sale was handled by R. A. Schendel of Arizona Trust Co.
NEW YORK the stock market closed lower on profit taking as trading stayed quiet. Notable movers included Olin Mathieson down 1 percent to 67 1/2, General Motors off fractions near 43, Schering up 3 percent to 82, Johns Manville up 1 to 51 1/2, Union Aircraft down 1 4 to 70 3/4, Royal Dutch off fraction to 57, and Illinois Central down 2 to 51 1/4.
Arizona engineer William E. Willey was elected president of the Western Association of State Highway Officials at its Houston annual meeting. R Glen Ryden of Arizona received the $500 Dr L J Hewes Award as the Wests outstanding highway engineer of the past year.
In Lima area Ottawa officials faced an unexpected objection when the city council decided to grant raises to city personnel. The sewerage disposal plant superintendent opposed a $25 raise citing the treasury's poor condition, yet the council proceeded with the pay increase.
The clipping lists bid and ask quotes for grain and lard futures across multiple months including Sept Dec Mar May and July. Prices show slight fluctuations with percentages and decimal figures in the 1.20 to 2.32 ranges, reflecting a busy trading day on the commodities page.
Arizona livestock activity shows buyers active late in the week with restricted sales. Prices include five loads mostly choice 900-975 lb steers at 23.00 to 23.50, high to low choice 950 lb at 23.00, and Brahmans 21.50. cows 16.50. one load commercial 1,225 lb. weekly notes indicate mostly steady slaughter trade with occasional gains, stocker and feeder classes about steady.
Norman Perry of the Better Business Bureau warns in Tucson about a group of solicitors claiming to represent an Illinois school offering civil service courses for 37 dollars 50 cents and promising government jobs after completion. The group falsely states BBB affiliation and federal government ties. a young woman in a Buick is described as the representative.
A legislative act repealing secrecy provisions of Arizona's juvenile code went into effect. Public may inspect juvenile court records and news media may publish names of principals in proceedings, though no change to public access at hearings. Rep. Carl Sims Sr. led the bill with newspaper backing. supporters say publicity reduces delinquency, opponents fear embarrassment and no crime reduction. Attorney General Morrison noted judges retain discretion to exclude the public from actual proceedings.
Foreign exchange rates listed for major currencies with the Canadian dollar and several European and Latin American currencies. Also includes multiple classified advertisements for bakery equipment, a super market, and concrete companies with figures and contact references.
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