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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 22, 1954
Page
20
Chicago market notes demand for new crop soybeans and modest buying in wheat after USDA acreage cut. Cooler Midwest weather sparks oats selling while corn slips on favorable crop reports. Wheat closes near unchanged to slightly higher, soybeans rise modestly in July futures amid mixed grains action.
In the 24 hour period, multiple fire calls were recorded. At 11:35 am to 12:30 pm a house fire on 449 East First Street with Engine 1 from Southside. At 1:92 to 1:49 pm a trailer fire at 419 East Pennsylvania Street by Engine 1 Southside. At 5:48 to 6:31 pm a restaurant fire at 2328 East Grant Road by Engines 3 and Truck 1 City. From 8:33 to 8:49 pm a trash fire at Freeway and Alamo Gordo by Engine 4 City.
Cotton futures were irregular with old crop July pressured by liquidations before first notice day. October and December rose on prospects of acreage cutbacks under 1955 federal controls. Private surveys were favorable and mill demand for spot and new crop staple improved. Yugoslavia received a $425,000 cotton purchase authorization.
A fragmented listing shows Arizona Bancorp Auz Pub Service Bank of Douglas P S of N M Rohr Aircraft Southern Union Gas Southwestern Pub Svc Tasior Oil & Gas Tex East Trans Tex Nat Gas Pipel Tucson GEL & P Co Valley Nat Bank with various prices and share percentages. The snippet indicates a stock mini roster with odd lot references and mixed percentages, reflecting a period market brief.
Spot non ferrous metal prices today show copper at 30 cents a pound in Connecticut Valley lead at 14 cents a pound in New York zinc at 11 cents a pound in East St. Louis tin at 93 and a half cents a pound in New York.
In New York on June 21 the cottonseed oil futures market closed up by one. There were 89 contracts traded with the July position at 16.32 a bid. Closing bids extended to September 15.03 October 14.25 December 14.23 January 14.20 March 14.35 and May 14.31.
Cottonseed meal bids and futures shown for bulk sale in Memphis on June 21. For July the range is 69.00 to 81.00, Oct 59.75 to 75, Dee 59.00 flat, with Jan 57.75 bid and May 57.75 bid. Prices reflect Prime 41 percent protein basis.
Stocks higher with tobacco shares down. Bonds in demand as government issues rise. Cotton irregular due to liquidation and hedging. Wheat firm after government acreage cut for 1955. Corn mostly lower with slow trade. Oats easy amid cooler Midwest weather. Hogs steady to 50 cents higher, top $24.75. Cattle steers steady, top $26.50.
A crowded docket lists defendants and charges for disturbing the peace and related crimes, with several cases set for trial or hearing. Public records include indictments for indecent exposure and destruction of property, plus numerous assault and burglary proceedings and debt actions.
The Associated Press reports New York wholesale price index for 35 commodities advances to 171.26 today, with prior readings at 170.32 the day before and 172.34 last week. The data, spanning 1951 to 1954, shows highs near 195.49 and lows around 170.32, with averages indexing at 100.
New York traders report Santos No. 4 coffee futures closing 45 to 106 lower with 169 contracts traded. Spot Santos No. 4 "S" fades while Santos "U" futures show no sales and remain quiet with bids and nominal quotes.
Raw silk futures in New York rose by two cents with five contracts traded. Close noted at October 4.35 billion in value, spot silk at 4.55 A. Asked and bid figures labeled A and B respectively.
Minneapolis financial note lists prices for cotton sacks flour shipments standard bran middlings and red dog with changes noted. Patents remain unchanged at 7.35 2 en and shipment 64 480.
The statement notes that the combined population of India and Pakistan rivals today’s global total as it stood three centuries back, implying a historic growth comparison. It frames demographic change by comparing regional growth to world population levels in the past.
NEW YORK The stock market closed higher today but below the best levels of the session. Tobacco shares faced selling pressure after a report linking smoking with cancer and heart disease. Merger news drove Studebaker and Packard stock activity while American Tobacco opened weak on heavy volume.
New York wool markets showed softer tops and futures with hedging and profit taking. Australian cables reported a firmer Melbourne market while a Sydney auction was cancelled and rescheduled. Certificated wool tops futures fell 15 to 16 cents. spot prices were nominal.
Chicago reports butter steady with receipts of 1 558 667 and unchanged wholesale buying prices across grades. Fags also steady with receipts of 14 407 and unchanged wholesale prices. U S large and mixed grade prices listed, current receipts and dirties noted. Los Angeles market shows Eyes receipts 6 933 cases and wholesale ungraded producer sizes. large AA and A price ranges provided. Butter receipts total 172 165 pounds unchanged. Cheese receipts 178 980 pounds unchanged. Live poultry unchanged.
Drygoods in New York report steady prices for the popular 30 square print cloth with ongoing bidding on wide print cloths. Wool goods show only trickle reorders for fall while rayon dealers note solid acetate taffetas and satins sales.
In New York on June 21 crude rubber futures closed mixed with gains and declines. July contracts at 23.17, September 23.40, December 23.66, May 22.85, with 77 contracts traded. Spot No 1 rubbed smoked sheets quoted at 23.0 terms unclear.
New York traders reported a firm bond market with strong support from high priced corporates and long term government issues. A large housing bond issue auction drew attention briefly as the dealer group led sales, while government bonds attracted above average demand after the Fed cut reserve requirements, signaling easy money for borrowers.
Livestock prices show uneven moves with cattle and calves mostly steady to uneven across Chicago and Kansas City. Hogs rally modestly, while sheep remain untested. buyers focus on high grade steers, prime heifers, and select cows amid varying supply from Los Angeles to Chicago. Cattle buyers report slow early sales and steady to higher demand for select cuts while calves and sows move slowly.
New York foreign exchange rates show the Canadian dollar at 192.00 U S cents in the open market with a 2 percent premium. Major currencies including Britain’s pound at 2.513? dollars and various European futures up by 1/32 of a cent. Latin American and Far East currencies listed with minimal changes.
Organizations Wednesday noon Young Democrats meet at Paulos with Joseph Riley, candidate for superior court judge. Optimist club, Sunshine Kiwanis, Rincof Lions, Tucson Rotary meet at various hotels with speakers from KOPO-TV and University of Arizona. Evening events include Twenty Thirty club at Westerner hotel with Dr Bertram Kraus on Point of Pines and Junior Chamber of Commerce at El Conquistador with films and business meeting.
Domestic sugar futures No. 6 ended 1 point lower with 26 contracts traded. Sept at 5.74 and Nov at 5.73. World sugar futures No. 4 fell 1 to 2 points with 25 contracts traded. July 3.24, Sep 2.23, March 3.24. Raw sugar spot cited at 615. Nominal bid quotes appear.
Valley National Bank directors recommend increasing capital by 4.4 million and raising common stock dividend from 90 cents to $1.00 per share. President Carl Bimson will inform stockholders by letter this week and propose a July 7 meeting to vote on the proposals.
Allan D. Shadron Inc. announces three new salesmen for its Shadron sales division. Douglas E. Bell, ex Civil Aeronautics Administration worker and Woodbury College student in Los Angeles. C. R. Barber, top MLS salesman in Tucson last year, UC graduate, seven years as Carnation Milk district sales manager. James Briggs, former Lever Bros district representative and Washington University graduate.
The Purchasing Agent of Tucson Public Schools invites sealed bids at 15 South Park Avenue Tucson Arizona until 11 00 A M Tuesday June 22 1954 for library books for the 1954 1955 school year. Include discount on Publisher's List prices and any applicable Arizona sales tax. Envelope must show Sealed Bid for Library Books Bid Call No 16 and date. The district may reject any or all bids or parts deemed in its best interests.
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