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Newspaper
Tucson Daily Citizen
Location
Tucson, Arizona, United States of America
Date
May 29, 1941
Page
7
AP market roundup notes Dow Jones utilities and industrial averages after closing bell. Indus rail and utility indices show modest gains with Wednesday and Thursday readings indicating slight shifts in overall market breadth.
New York reports silver bar prices at 34 percent, unchanged for the period ending May 29. The brief note marks no change in the rate and lacks further context or accompanying figures.
U S Dept of Agriculture reports hogs, cattle, and sheep trading mixed. Kansas City notes higher hog and cattle quotes with limited fed steer availability while Chicago shows strength in lighter hogs and steady or firmer butcher values. Sheep volume sizable with spring lambs steady to higher and vealers trading around 11 dollars.
Los Angeles market reports hogs cattle calves and sheep with prices on 200 to 800 lb ranges and steady to higher moves. Denver cattle hogs and sheep trade shows steady to higher beef and hog values, with mixed lots and several price brackets across weight classes.
In New York on May 29, cotton futures eased as global tensions and price fixing fears limited demand. July 13.08, October 13.26, January 13.32. Last trades showed July 13.08, October 13.24-25, December 13.33, January 13.29-30, with middling spot at 13.53.
New York May 29 The stock market closed with modest gains after mixed trading. Aircraft shares boosted several groups as new year highs were set for Oliver Farm Consolidated Aircraft and Square D. Laggards included General Motors and Woolworth while rails saw little activity.
Prices fell as much as two cents a bushel to the lowest since May 12 with losses of about seven cents from May peaks. Traders cited pre-holiday account adjustments and unease over war developments and a Saturday marketing quota referendum. Wheat futures closed lower across the board with July at 93 7/8, September 95 1/4.
The Canadian dollar rose 3-16 of a cent against the U S dollar in New York trading on May 29. Hongkong and Shanghai dollars fell slightly while various international rates are listed including Great Britain and Germany central rates. Nomininal X-for commercial transactions.
Scattered sales closed today on domestic wools with combing three-eighths and quarter blood bright fleece moving at 46 to 47 cents per pound in grease. Limited demand from users, three-eighths blood territory wools sold 90 to 93 cents on secured basis. Foreign wools saw steady prices and some demand.
The high command said heavy fighting continued in North Africa. A British breakout attempt from Tobruk was repulsed by Italo German troops with heavy British losses. German planes destroyed British tanks and trucks east of Sollum, and a large British merchant ship off the African coast north of Matruh was set afire. In Rome Vir ginio Gayda claimed Italian forces landed in eastern Crete creating a new front against Britain.
London dispatch reports British observers warn Crete may endure a bitter rear-guard battle. Maj. Gen. Freyberg faces near-constant Nazi air attacks as reinforcements pour in, with German control of Suda Bay enabling heavy troop landings. naval limits and six months of British defense leave little hope of evacuation or stopgap success.
The state medical board considers a hospital permit while awaiting basic science exam results. A health service official notes many out-of-state physicians would need to pass the same test. California prospects seem unlikely, with salaries over $300 monthly and civil service protections. The board plans to name a temporary superintendent and fix plumbing, with architect Chenault estimating $22,000 for system modernization, using $12,000 already appropriated. J. M. Smith joins the Democratic state central committee on the governor's Sharpe bill board.
The speaker argues Europe faces a curse unless nations create and preserve healthful economies. He notes no escape from hardship and likens the German state to a rigid machine that may break suddenly, stressing urgent need for aid to European peoples when that occurs.
Copper stays at 12.00 spot with export 11.00 to 12.00 in New York. Tin firm at 52.25 spot and nearby 52.00. Lead steady at 5.85-5.90 in New York and 5.70 at East St. Louis. Zinc steady at East St. Louis 7.25. Other metals including pig iron aluminum antimony quicksilver platinum Chinese wolframite and domestic scheelite unchanged.
Los Angeles on May 29 reports butter receipts of 127200 pounds cheese 90600 pounds eggs 456 cases. Butter in bulk 38 Candled large eggs 29 do mediu m s 27 do smalls 22.
President Roosevelt outlined that 1917 style convoys are outmoded and merchant ships must be protected from submarines surface raiders and bombers. He noted American patrol ships in the Atlantic seek raiders by air surface and sub, while avoiding changes to the neutrality act though debate over sea warfare persists in the Red Sea zone.
Henderson explains OPCAS tests wage demands for absorbability at current profits. Senator Ellender asks if price controls are unfair without wage controls. Henderson notes inflation would trigger stronger controls or substitutions if wage increases are excessive.
A man wounded during an incident near Schmeling attempted to flee but was fatally shot in the escape effort. Authorities investigated the circumstances surrounding the confrontation and the ensuing death.
Nazi informants said they had heard nothing about Max Schmeling being killed in Crete fighting. They noted Germany would find it difficult to confirm such a report due to poor communications with troops in Crete.
Ickes pressed for oil pipelines from the south to the east to avert shortages feared as one-fifth of the American tanker fleet is shifted to British service. He urged material priorities for pipelines and tankers and said Georgia lawmakers blocked pipeline efforts with railroad opposition.
A Johannesburg project plans a plant that will assemble only American automobiles signaling a major investment in South Africa's automotive industry. The facility aims to introduce U S built models to local markets and potentially broader export routes.
Multiple small classified items advertise cash for old furniture and trading options. Also offers services like car washing, a rent room, apartments near Laguna Beach, a 38 room apartment near the university, sale of a cash register, and furnished houses with leases. Various phone numbers and addresses included for each listing.
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