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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
Jun 30, 1958
Page
30
Stocks higher with moderate gains while bonds advance. Cotton and wheat decline as hedging and receipts affect prices. Corn and soybeans fall on producer selling and liquidation. Hogs rise to a top of 24.50, cattle steady with slaughter steers near 31.50.
The Supreme Court refused a third review of Frank Costello’s income tax evasion conviction, leaving him to serve the remainder of his five year term. The court also issued several other decisions affirming or ruling on various cases across states.
Arizona livestock report shows a slow direct trade for slaughter cattle and calves from Arizona feedlots last weekend. About 1,500 fed heifers sold at 26.75 to 27.00 for 675 to 725 lb lots, with a 15 head string at 26.00 after 1S cut. over 1,200 cattle and calves sold at local auction. cows firm, bulls weak, stockers and feeders mixed with some steers 80 cents to 100 lower for the week.
A June report shows Chicago and Los Angeles market activity with hogs mostly higher. Cattle demand remains moderate with steers and heifers advancing, bulls steady, and calves buoyant in Los Angeles and Denver. Kansas City and Chicago detail varied gains, with spring lambs steady to higher and sows firm.
Lillie Mae Lowrie, 22, a confessed bank robbery conspirator, collapsed in U S District Court after Judge James A Walsh sentenced her to two years. She pleaded guilty to conspiring to rob Valley National Bank Show Low branch last December netting 5960 dollars. attorney argued she was a victim of circumstances. The judge noted she may qualify for parole within a year and indicated she should do some thinking.
Cotton with light hedging and favorable crop news mixed with mid-June parity reductions that lowered final 1958 loan estimates. Uncertainty over farm legislation kept distant months weak while trade buying faded. July transferable notices were absent as late day prices eased 3 to 30 cents per bale to 36.35 for July 36.56 for Oct 36.62 for Dec.
New York in June sees various currencies quoted with small gains and unchanged prices. Canadian dollar premium 14 18% US. cents. European currencies include pound around 2.80 dollars with minor moves. francs, marks, guilders near stable levels. Latin American and Far East rates shown with little change.
The MacGREGOR Market Letter anticipates a modest July drop in business activity, not a major correction, with funds ready to enter as prices ease. It notes Moody's indicators edging up, a bright spot in construction, and strong auto debt clearance, asserting the FRB should not reverse easy money policy. Closing Dow Jones stands at 471.54 as of June 25.
An advertisement touts all electric new machines and mentions THERMO-FAX as a Minnesota Mining and Manufacturing Co. trademark based in St Paul with a possible misspelled distributor note.
Marji Leginski a 17 year old from Tucson placed second in the Knights of Pythias high school speech contest in Denver. Syd Nathans an 18 year old from Houston won the event and will represent the five state region at a national contest in Boston this August.
An aggravated assault charge against Woodrow Frost, 43, was dismissed in Justice Court after the stabbing victim Chester A. Brown, 40, admitted mutual responsibility. Brown signed an affidavit stating he felt partially to blame. The incident occurred April 8 at a home.
Deputies said Brown suffered a three inch deep stab wound to his right buttock at the corner of W King Ave and S San Antonio Ave. The weapon was a hunting knife with a five inch blade.
In New York on June 30 the cotton textile market showed limited activity as mills shut for annual vacations. Light print cloth sales for nearby delivery occurred while wide drills commanded about half a cent higher per yard. Wool goods saw little business, rayon filament fabrics sold for nearby delivery on a fill-in basis.
Chicago June 30 steady butter with receipts 1,022,000 and wholesale buying prices unchanged. Grade AA 93, A 92, B 90, C 89 with respective percentages. Eggs steady to firm with receipts 15,400 and wholesale prices unchanged. grade A whites 70 percent and better at 37, mixed 36 3, mediums 33 12, standards 35. Dirties and checks noted in figures.
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