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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 16, 1958
Page
26
Stocks irregular and varied with demand for selected issues while bonds soften. Commodities show declines in cotton wheat and soybeans with mixed trading in corn oats and hogs lifting slightly. Cattle steady to lower and the Dow Jones final averages show mixed performance amid utilities and rails movements.
The University of Arizona will use a $19 700 National Science Foundation grant over three years to expand excavations at the Point of Pines diggings in northern Arizona. Led by Dr Emil W Haury the study aims to uncover an 800 room complex around 1200 to 1430 AD as part of Southwest prehistory with work by graduate and undergraduate students and a field school offering training to international participants.
Protests by property owners blocked a Pima County Board of Supervisors session over the North 1st Avenue widening plan from Navajo to River Road. The meeting paused during a hearing on the project with talks about a 70 foot road, four lanes, and a four lane bridge across the Rillito River. The board tabled further discussion to Sept. 15 while awaiting appraisals and a public hearing.
Final adoption of a $4 million road building budget was set by the State Highway Commission after a Seminole public hearing. Rep. David Campbell questioned Globe area expenditures, noting earlier estimates of a $200,000 project for a 0.1 mile highway segment with a railroad underpass. The $94.164 million budget would top the state's history, compared with $73.348 million this year.
Edmund W. Tabell reviews the Dow Jones and S&P 50 levels, estimating overhead supply between 460–524 and 45–47, with recent highs near 476.56 and 45.18. He forecasts multiple attempts and time in a basing period before a breakout, citing historical bear markets and suggesting leadership may shift to different stock groups in the next upswing.
Five deportees receive prison terms amid a roundup of guilty pleas in a federal session. Manuel Arostegul-Garcia, a Mexican national with 13 voluntary departures and five prior deportations, gets 18 months. Others include a one year suspended term for Samuel Frano Butler and nine months for Gilbert Flores Marin.
Detroit unions representing small auto industry groups signed two year extensions with Chrysler and eight Ford locals plus a one year pact with the National Maritime Union. The agreements mirror the expired UAW productivity and cost of living raises. Ford and General Motors resumed bargaining talks with the element went oner. negotiations to continue tomorrow.
The Senate rejected an amendment by Senator Purtell to allow all employees to vote by secret ballot on a strike under federal mediation oversight. Senator Goldwater denounced the bill as a sham while lawmakers push for labor reform to curb rackets exposed by investigations.
The fragment lists various currencies and dates with unclear context. It mentions Britain, Sweden, Switzerland and Denmark with notes like unchanged values and ranges, but lacks coherent details or outcomes to describe a specific event.
The New York cotton market moved down on Wednesday with prices easing amid lighter demand and mixed futures cues. Traders watched for export data and weather signals that could influence the coming season.
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