New York Stock List Shows Mixed Bond Market and Grain Shifts
Today's market summary notes a general stock decline with mixed bonds as governments improve. Cotton remains steady while Wheat remains strong on delays from rain. Corn and Oats ride wheat resilience. Soybeans trade mixed as government sales weaken. Hogs jump 25 cents higher to a top of 20.50. Cattle rise up to 0.50 with steers at 27.00.
MENTIONED IN THIS ARTICLE
N.Y
Bank of Amer
City N.Y
Boston
Chgo
Ove
Guaranty
Franklin Life
Hartford
Ms Maryland Cas
Allison Steeves Amer. Express
MY My Amer. Hosp
All Ariz. Bancorp
Ariz. Pub. Ser
Nu Am
Deihi-Tay
Atte el Paso Elec
Vee
Ees
Atom Dev Mutual
Giant
Sueadems Eee
Ses Gulf Inter
Ges
Peeeeee Axe
Houghton Fd A Sa Ae
Houghton Fa Bsenee
Ideal Comert
Boston Fund
Lone Star St
Fuel
Broad Street Invest
Orece
Wee
Bullock Fund
Nee Nou “UN Pac. Pwr. & Lt
Big Perman
Cement
Canada
Colo
Pwr
Nev
Century Shrs Trust
Spis
Tenn
Colonial Fund
Tex. East
Divers Growth Ltd
Tex
St. Nat
Dreyfus Fund Oenene
Eaton & How Ball
Tucson Gas
Eaton & How Stk
Western Dev
Electronics Invest
Amer
Keystone Fund
Loomis Say Mutual
Manhat Bond Fund
Mass Investors Trust
Mass Investors
Nats Investors Om
Putnam Geo Fund
Scudder St & Clark
Teley Elect Fund
Accum Fund
Wellington
Arizona Adopts Stock Gifts for Minors under New Law
Arizona joins about 20 states allowing parents to gift stock to minors with a custodian. The law, effective June 14, lets custodians buy and sell shares and reinvest dividends for the minor who can earn up to 600 dollars of income yearly tax free.
MENTIONED IN THIS ARTICLE
Arizona
New York Stock Exchange
Tax Group Faces Hurdles On Religious And Veteran Tax Exempts
The Arizona House Tax Study Committee stalled on two pet projects a religious tax exemption amendment restricting to churches in at least five cities, and a veteran exemption audit. A Buddhist group cites discrimination while assessors in five counties report difficulty tracing Arizona veteran enlistment data.
MENTIONED IN THIS ARTICLE
Tax Group
Snags
Phoenix
House
Tom Kadamoto
Glendale
Arizona
United States
Kadamoto
Coconino, Pinal
Santa Cruz
Navajo
Maricopa
Beck Reappoints Brewster Chairman at West Conf Meet
Frank W. Brewster was named chairman of the Western Conference of Teamsters by Dave Beck at the conference opening in San Diego. The move drew a near full standing ovation from about 500 delegates amid questions from congressional investigators over union funds. Brewster, appointed in 1952, faces contempt of Congress charges and awaits a court decision. Beck’s message urged possible shift to an elective chair and noted such an amendment requires ratification at the international convention in Miami this September.
MENTIONED IN THIS ARTICLE
San Diego
Calif
Frank W. Brewster
Western Conference of Teamsters
Dave Beck
Beck
Brewster
Congress
International Union
Miami
Fla
Williams Trial Set Tomorrow
Leroy Williams 28 of 225 W 18th St faces a second degree murder charge for the April 18 19 shooting death of Mrs Willie Mae Davis. Justice reduced the charge from first degree after a preliminary hearing. Atty Lawrence Ollason will defend Williams before Judge Frank E Thomas in Cochise County.
MENTIONED IN THIS ARTICLE
Leroy Williams
Williams
18Th St
Willie Mae Davis
Norman E. Green
Atty
Lawrence Ollason
Frank E. Thomas
Cochise County
Zionists Name Two Arizonans Regional VPs
Two Arizonans were named regional vice presidents of the Zionist Organization of America Western States Region. Joseph Cohen of Phoenix and Henry Kaufman of Tucson were elected Sunday at the group's annual Los Angeles convention.
MENTIONED IN THIS ARTICLE
Los Angeles
Zionist Organization of America
Joseph Cohen
Phoenix
Henry Kaufman
Tucson
Rail Plea Studied in I C C Hearing
PRESCOTT H J Bond of the Interstate Commerce Commission in Washington took under advisement an application by the Santa Fe Railroad to abandon a 104 mile route between the Iron King and Blue Bell mines following a two day hearing at Prescott.
MENTIONED IN THIS ARTICLE
Prescott
H. J. Bond
Interstate Commerce Commission
Washington
Santa Fe Railroad
Iron King
Blue Bell
Standbys Named For London Trip
Washington policy aides name Sens Wiley Hickenlooper and Saltonstall for a standby London disarmament talks mission. Secretary Dulles asked Knowland and Johnson to designate Democratic senators Humphrey Pastore and Symington for a possible second delegation if needed.
MENTIONED IN THIS ARTICLE
Washington
Sen
Knowland
California
Senate
Wiley
R-Wis
Hickenlooper
Rtown
Saltonstall
R-Mass
London
Dulles
Lyndon B. Johnson
Texas
London Talks If This Becomes “Desirable.” Wiley
Joint Atomic Energy Committee
Senate Armed Services Committee
Sen. Humphrey
D-Minn
Sens. Pastore
D-Ri
Atomic Committee
Symington
D-Mo
Armed Services Committee
Christian A. Herter
Russia
United States
Indigent Care Fraud Case Settled
The Board of Supervisors authorized a settlement of 3,460.38 from Charles Weis for indigent care at the County Hospital while he held 9,000 in local banks. Weis was sued in Superior Court May 28 to repay 5,511.84 for care over three years. The board also approved 3,363.50 to Robert McNelley for land taken for Flowing Wells road and canvassed Tucson School District bond results showing high and elementary vote tallies.
MENTIONED IN THIS ARTICLE
Board of Supervisors
Charles Weis
Weis
S. Meyer Ave
Earl Rogge Jr
Arizona Livestock Prices and Delivery Terms
Phoenix market reports direct slaughter steer and heifer sales from Arizona feeders. Loads show 789 lb crossbred steers at 22.00, 800 lb steers at 29.50, 675 lb heifers at 38.50, and contracted heifers for delivery up to July at 23.00. Late week offerings include 700-750 lb steers around 18.00 and 19.00 for heifers, with further feeding planned.
MENTIONED IN THIS ARTICLE
Phoenix
Arizona Feediots Limited
Livestock Market Report Opens With Mixed Prices Across Cattle
Los Angeles traders report cattle volume around 4 500 with higher asking prices in most sections. Slaughter steers largely steady. cows mostly steady. stockers and feeders light activity. Hogs firm early. sows and calves showing varied ranges. Chicago hogs and cattle figures cited with mixed sales and price levels for several weight classes.
MENTIONED IN THIS ARTICLE
Los Angeles
FSMN
Chicago
USDA
Cotton futures steady as rains lift New York trading
Cotton futures held near seasonal highs with buying from trade firms and commissions pushing most deliveries higher except old crop July. Rain in Texas Oklahoma delayed harvests, lifting prices about 1.50 per bale before profit taking trimmed gains. Late afternoon quotes showed July 35.32 Oct 34.95 and Dec.
MENTIONED IN THIS ARTICLE
New York
Trade and Commission House
Texas
Oklahoma
Market View Doubts Bond Shift Endangers Stock Buybacks
Financial writers note bond yields moved above stock yields, but warn against large portfolio shifts into bonds. High income stocks yield 5 to 7 percent. high grade bonds around 4.4 percent, making bonds unattractive for capital-gain investors. Ford Foundation losses from bond shifts cited. Dow Jones gain modest. May production, housing starts, and personal income show strength, supporting a cautious but hopeful outlook. Closing Dow 505.92.
MENTIONED IN THIS ARTICLE
Ford Foundation
Ford Motor
Dow Jones
Dow
Federal Housing Administration
FHA
Ghana Plans Billion Dollar Volta River Project
Prime Minister Kwame Nkrumah presses for funds to harness the Volta River in a project valued around 865 million dollars, possibly rising to a billion. The plan aims to generate power and extract aluminum, with smelting centers and transport networks, seeking U S involvement if Britain and the Commonwealth do not fund by July 18.
MENTIONED IN THIS ARTICLE
London
Kwame Nkrumah
Ghana
Volta
Negro State
Gold Coast
United States
Nkrumah
Africa
Foreign exchange rates amid market open in New York
New York open market quotes show the Canadian dollar at 4 25/32 premium or 104.78 U S cents and the British pound at 2.795 32 dollars. Other major values drift with small changes, including Deutsche mark 23.80 and Holland guilder 26.12, with several currencies listed as unchanged.
MENTIONED IN THIS ARTICLE
New York
Great Britain
U. S
Belgium
France
Germany
Holland
Italy
Porto
Switzerland
Denmark
Latin America
Argentina
Mexico
Venezuela
Hong Kong
Cotton Textiles Market Report Shrinks Activity After Mill Shutdowns
In New York the dry goods trade notes buying by converters limited to cotton textiles and expects little pickup until after annual mill shutdowns later this month and early July. Finished goods sales remain favorable though wool goods stay routine amid off season dullness. Converters buy filament fabrics for third quarter rayon delivery while spun fabrics show weak action due to broad mill curtailment.
MENTIONED IN THIS ARTICLE
New York
Millis
Butter and egg market notes from Chicago auction
Butter prices steady with unchanged wholesale bids. Receipts 1 432 000 at 6 am. Eggs unsettled with receipts 10 900 and wholesale bids 1 cent lower on average. Grade breakdown shows white and mixed lots near 65% or better, with varying quality counts and current receipts 26.
MENTIONED IN THIS ARTICLE
Chicago
Stock market closes lower with mixed late losses
New York trading remained dull as the market finished with declines. Notable moves include Gulf Oil down 34 percent to 140, Du Pont off 1 percent to 191 3/4, General Motors down around 1 percent, and Lukens Steel up 24 percent to 119 1/4 amid a broad gap of small changes.
MENTIONED IN THIS ARTICLE
NEW York —i
Gulf Oil
Amerada
du Point
Chrysler
Lukens Steel
Youngstown Sheet
General Motors
American Telephone
American
Westinghouse Electric
Ilinois Central
Johns-Manville
United Aircraft
Also Mentioned on This Page
NEW York Stock List
Dow-Jones
du Pont
Nat Thea
Bath
Abbott L
Newmont
NY Central
Eagle
East Air L
Nh&hart
Eaton Mfg
Alaska
el Auto
NorCentral
Alles Cp
el Star Bat
Nor Pac
Alles Lsu
NorStaPw
Allied Ch
el Paso
Northrop
Airlin
Erie
Evans Pd
Ohio
Ohio Oi
Oku Ge&e
Okla N Gas
Ag Cho— Fairb Mor
E Pairch
Oliver Cp
Bosch
Otis Elev
Ama
Owens
G & el
Firth
Fa P&l
Penn Dix
Penn Tex
M&fdy
M&f
Pw&Lt
Frueh
PepsiCola
Potasha
Gamble Sk
Pfizer
Gar Wood
Phelps D
Saf Raz
Garrett
Phil
Rag Mie
Gen Am Tran
Philip Mor
Os Phill
Tel & Tel
Pittston Co
Gen Motors
Armco
Gen Realty
Tirea
Atlast
Atlas Cp
Getty
Goodyear
Reyn
Rex
Baldlima
Es Grace & Co
Grah Paige
Rey Tob
Beaunit
Beckman
Gt West
Beech Aire
Royal Dut
Beech L. Sav
Gram Aire
Royal Mob
Bel Aire
Bendix
Stae Gulf Mob O Safeway
Benef Fin ” Gulf Ou
St Jos
Benguet
San F
Halliburton
San
Boeing Air
Hilton
Holland F
Sears
Sham O&g
Airn Hooker EL
Bridg Brass
Briggs
Rao
Bullard
Nick
Sperry
Callahan
Caro P&l
John Man
Stan Ward
S Case
Jone
Stauff
Stevens, JP
P&l
Stone & W
Kennecott
Kresge
Swift & Co B
Cessna Air
Kress
Kroger Sis
Tex G
Sp&p
Lehman
Tex G Sul
Lerner
Ty Tex P C&o
Tex Util
ChikiaPac
Libmcn&l
Textron
Ligg&My
G&e
Tidewat Oil
Tide Oil
Lorillard
Macy
Air Line
Marsh
Martin Co
UN Gas Co
Conrr Cub
McGraw
Mcintyre
McKess & R
Mead Cp
US Steel
Merck A
Mesta
Vanad Cp
Viet
Crane Co Be
Minn M&m
Crown Cork
Mission Co
Ut West Pac
Monter
Mont Ward
Motorola
Murray
Bees Ca
Nat Airlin
Wilson & Co M
del L&aw
Nat Aviat
Winn Dixie
Den
kGw
Nat Cash
Woolworth Rd
Worthington
Yale& Tow
London Trip
Am Petrof
Ark
DuVall Sul DuMont Lab
Equity
Fargo Oils
Ford
Giant Yelad Glen Ald
Guild & Films
Humble Oil New
Imp
Kaiser Indeecens
Lear
McDon
Peds Ltd
Vulcan
Waltham
Webb & Eehene
Arizona Livestock
N. Y
Ghanese
C. B. Slogle
Foreign Construction Associates
Houston, Tex
Edgar White
Utah Construction Corp
H. Frazier Leith
Winslow, Cohn & Stetson
Aluminum (Canada) Ltd
British Aluminum Co
Gold Coast Colony
Europe
Drygoods
Boohklet-Prospectus
Fif Management Corp
P.O. Box
Tucson, Ariz
Standard Mortgage CO
N. Campbell Ave
J. Lee Gentry
Mgr
Connecticut
Walleley
East St. Louis
Tucson Fertilizer Co
Zuber
E. Alameda ST
Heinze, Bowen and Harrington, Inc
John Mahlios
New Mar
East Third Street
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