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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 23, 1942
Page
8
Associated Press stock market recap shows closing averages for 30 Industrials 20 Rails 20 Utilities and 65 Stocks. Tuesday figures list indices 193.03 for overall, with industrial, rail and utility subindices shown. details reflect nightly broker updates through E F Hutton and NYSE members.
New York trading opened with selective bidding as war news limited stimulation and tax hopes supported mild gains early. Volume was light with about 200000 shares traded, later fading as many stocks finished lower amid scattered recoveries and a mixed session led by industrials and bonds.
New York June 23 cotton prices eased after an early advance as liquidation and hedge selling increased ahead of first notice day. May Cc purchases helped limit gains while late trading left July 1831 at 18.34 and December 18.84. Middling spot quoted around 19.97.
Chicago grain prices closed narrowly lower amid good weather across the corn and wheat belts. Traders awaited word on farm legislation and the parity loan program tied to a House Agriculture Committee meeting scheduled for tomorrow. Wheat eased, corn was little changed, oats and rye showed mixed moves, soybeans dipped, and lard stayed steady.
Poultry and animals listed include colored and leghorn varieties with weights from under 2 pounds to over 4 pounds, plus squabs and rabbits. Prices range from 20 to 50 cents per pound depending on type and weight.
Los Angeles report shows USDA receipts for June 23 with butter at 195 288 pounds cheese 46 926 pounds eggs 2 535 cases bulk butter 38 cases candied large eggs 36 medium 34 small 25.
U S Dept of Agriculture reports hog salable totals around 4800 with slow selling, top hog price 14.35 for 180 lb animals. cattle salable totals about 4800 with varied prices for steers and cows and calves. sheep salable around 9000 with spring lambs selling above 15.25 and clipped lambs around 11.60. Chicago figures show hogs 13,000 salable with most gains under 250 lbs to 14.55, cattle 8,500 with steady demand and steer prices near 14.35 to 15.00, sheep 1,000 salable with lambs trading around 13.00 to 15.40.
In Los Angeles on June 23 federal market notes show cattle generally steady with fed steers at 12.50 to 13.25 and top loads near 13.75, fed heifers around 13.50, cows 8.25 to 9.60, and calves 12.00 to 15.00. Hogs remain fully steady with 200 to 250 pound animals at 15.00 to 15.40, sow prices 12.75 to 13.25. Sheep steady with woolled lambs at 13.50 and yearlings 10.50. board ewes unsold.
U S Department of Agriculture cattle sales show 1 900 salable calves total 2 000 with steers and heifers steady to strong and best heifers around 12 85 to 12 90. Hogs 1 800 total with mostly 10 to 15 higher than Monday. sows strong, good and choice 180 to 400 pounds 14 25 to 14 50. Sheep 1 100 salable, native spring lambs steady with lots 77 to 91 pounds at 15 15. ewes 5 00 to 5 85, culls 3 00 to 3 50.
Exchange rates for June 23 list the Canadian dollar at 90.00 U. S. cents in open market with 10 percent discount. Great Britain rates show buying at 4.02 and selling at 4.04, with cables at 4.04. Argentina official 29.77 and free 23.51, down 120 cents from 1942 low. Brazil 6.05N unofficial, 5.20N free. Mexico 20.67N. Spot cable rates noted unless stated otherwise.
Demand for wool remained very quiet in Boston and nationwide with medium and bright wools quoted 46 to 48 cents delivered. Some inquiry for staple territory fine and a small movement of Australian fine wools observed at ceiling prices.
President Roosevelt and Prime Minister Churchill held nonstop talks into the small hours, delaying Roosevelt's regular Tuesday press conference to allow uninterrupted discussions. Hopkins voiced warnings of hard days ahead yet affirmed a sustained push to deploy Allied power and future front efforts to defeat the Axis.
Report from Belem notes 34 survivors from a Panamanian freighter torpedoed by an Italian submarine arrived at port. Survivors of an American ship also arrived with no detail. In Bogota, survivors of the Dutch freighter Flora said fuel oil was seized by the submarine before sinking. Four UN vessels have been sunk in Caribbean waters recently.
O Mahoney warned the sponge iron method would destroy decades of steel industry balance. Truman linked steel expansion delays to sluggish output in aluminum and other light metals, arguing the issue is controlled production. He said firms seek postwar security and monopolistic control. O Mahoney said the bottleneck in war production is lack of steel.
The article notes Hitler forces skilled labor from the Netherlands Norway Belgium Greece and Poland and elsewhere to bolster war production. It suggests he must win in 1943 amid rising shortages of oil and faltering output and accelerates moves toward southern Ukraine and the Near East to reach oil fields. The Egypt campaign is viewed as a potential war turning point.
Local report notes price changes for eggs and mentions new chairs with cardboard seats and backs being sold in London, highlighting a mix of goods in the market.
The Soviet information bureau released figures showing Nazi casualties of at least 3.5 million dead, with Russia claiming superiority in destroying German field guns, tanks and planes. Berlin put Russian losses far higher. The review notes Red Army resilience near Moscow and ongoing fighting on the Kharkov front, detailing mechanical losses and recovery rates among wounded soldiers.
German high command reports deeper advances into Sevastopol fortifications with numerous bunkers smashed in hand to hand fighting. It cites a local sea coast landing repulsed near the Sea of Azov and a remnant Soviet division annihilated northeast of Kharkov with 660 dead, 946 captured, and 200 guns seized.
The AVG expands with new personnel and planes as four motor bombers and fighters are sent to China. Bombers land after crossing the world route through Africa and the Middle East. Freighters face reduced capacity and enemy encounters but pilots escape by low flight.
Minneapolis faced a fifth day without milk deliveries as union and dairy officials failed to reach a settlement. The Milk Drivers and Dairy Employes union rejected a $2.50 weekly raise by 632 to 26, while dairies regrouped for further talks. Residents queued at plants but union pickets limited purchases to three quarts.
The Army outlines enlistment and training for combat duty led by Maj. Gen. J. T. McNarney. It projects mass air evacuation of wounded, heavy spending on offensive gas warfare, Alaska rail options, and West Point cadet increases with aviation eligibility. The appropriations bill requests 42.82 billion dollars, including 12.7 billion for lend-lease materials and 30.12 billion for American forces.
The fire department in Ajo would stop receiving its 2 percent allocation from fire insurance premiums within its limits. Premium fees fund the department pensions, and the Corporation Commission notes amendments to fire insurance laws may nullify prior changes.
The YMCA senior program opens with a wrestling class led by Bob Lee at 7 30 p m. Tonight marks the first of four hour water safety tests for course participants. Elmer Coble notes re checks may be taken today and tomorrow with Dr. Secrist Lewis Wilcox and Gridley on the examining board. A talking picture on jiu jitsu and personal defense will be shown next week in the YMCA lobby and at the air base USO center and service clubs.
President Roosevelt directs the ferry command to continue supplying China and to deliver as much as possible. The order emphasizes sustained aid and uninterrupted transport amid ongoing demands.
Reports say last night’s bombing of Emden marked the 76th raid of the war, with Berlin radio acknowledging damage to homes and public buildings. German accounts claimed three British bombers were shot down, while allies reported a larger tally.
The Libyan front was said to be on edge as Rommel was expected to launch an attack momentarily, with British Middle East HQ noting imperial mobile forces active south of Fort Cape Uzzo and slight enemy activity in the frontier area yesterday.
Mary A Peene Stilwell 83 mother of Lieut Gen Joseph W Stilwell United Nations Far East leader died at her Yonkers home after a 10 day illness. Survived by Col John Stilwell son Stuart Wilder daughter and sister. Private funeral services to be held Wednesday.
The city building inspector reports the average cost of a single family home fell from 3680 to about 1400 dollars over the past year. National data support lower-cost homes with fewer permits. In the first five months this year Tucson issued 68 single family permits versus 835 in the same period in 1941.
May births jumped from 116 in 1941 to 140 in 1942, Dr. L. H. Howard says, about three times normal. St Marys maternity ward is at capacity with overflow care, and other centers report similar strain.
Completion of an $18 000 water pipeline for a herd of 200 plus buffalo in House Rock Valley was announced by Roy Gambrell of the state game department. He noted cattlemen complained buffalo depleted water supplies, with funding split under the Pittman Robinson act: 25 percent state, 75 percent federal.
In Pima County Arizona Fanny Wegand has filed to probate the will of Joseph Israel Wegad also known as Wegand deceased. The hearing is set for June 29 1942 at 10 in the Tucson court room. All interested persons must appear to show cause why the petition should not be granted.
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