Garden City Telegram from Garden City, Kansas on October 26, 1962 · Page 10
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Garden City Telegram from Garden City, Kansas · Page 10

Garden City, Kansas
Issue Date:
Friday, October 26, 1962
Page 10
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Wild Swings in Prices Rumors Send Stocks Down, Up By SAM DAWSON AP Business News Analyst NEW YORK (AP)-The love affair between the stock mark el and Dame Rumor rarely has been more evident. Rumors send prices down and new rumors .send Ihci/i up. This hasheld (rue this week both for prices in general and for prices of individual stocks which responded to rumors about how the particular company would fare ir view of the latest rumor. Prospects for different industries and for individual companies were revised almost hourly as stock traders listened to the latest inside dope on how the Cuban trouble was shaping up. Wild swings in prices resulted. And often these affected public views of the emergency—and in : turn fed fresh rumors. An amateur speculator proceeded at his I own risk. CTION ESTATE OF THE LATE BENNY BELL to be sold at his place—207 S. Eleventh Street TUESDAY, OCTOBER 30th Starting at 12:30 P.M. 4 Wheel Trailer House Old Furniture Topsy Stoves TV Set, works good Lots of old Lumber, Junk Iron Took of all Kinds Several 50 Gallon drums of Chicken Feed Several Suits of Clothes Lot of Pipe Bedding Harness New Snow Cone Machine Misc. Items of all kinds Dishes and Cooking Utensils TERMS—CASH CHARLES STALEY, Administrator DALE DICKERSON, Clerk EARL BARTON, Auctioneer DO NOT MISS THIS SALE—NO TELLING WHAT YOU MIGHT FIND FOR SALE "Our Carload Buying Brings You The ,f Values of The Year^ \ • '• ' V . -;-,",' ''''• ' "• •'. •".' '• '-'.f'i SAVES YOl£MONEY Only a huge special purchase and tremendous factory production enables us to offer Hies* high quality, all-steel, double-door wardrobes or such low, low prices! You would usually pay twice this amount for equal storage space! • 63-in. high • 24-in. wide • 20-in. deep Will hold up to 20 garments. Smart walnut- tone finish on all-steel cabinet. Plenty of extra rjom for storing shoes, blankets, boxes, etc. WAREHOUSE PRICE 63-in. high • 30-in. wide Stores up to 24 garments. Complete with lock and two keys. Equipped with tie rock, shoe rack and hnt ihelf. Heavy gauge steel cabinet with handsome walnut-tor.e finish. WAREHOUSE PRICE • 63-in. high • 36-in. wide • 20-in. deep 30 garments easily stored in thij glant-siz«j all heavy-gauge steel wardrobe that features hat shelf, tie rock, shoe rack and lock with tw» keys. Beautiful walnut-tone finish. WAREHOUSE PRICE $ 29 ALL WARDROBES FEATURE 1 • Sturdy AII-SU«I Construction • Baked-on Hammered Walnut Finish • Reinforced for long senric* Wall Strmt has its own ways of getting rumors and of spreading them. It heeds official announcements. But more often it tries to anticipate them—frequently with ] notable success, and sometimes with none at all. Traders who guessed right could have made a lot of money this week. For example you did if you sold early Monday in expectation of the President's ordering of a blockade of Cuba, and then bought at the low point Wednesday morning in expectation that stocks would rebound at the first rumor —substantiated or not—that Soviet Premier Khrushchev would seem to be backing down. And commissions on ihe huge volume of sales and purchases helped out the brokerage houses that had been languishing in near- dead markets. Because stock trading is nationwide, Wall Street has the advantage of a news or rumor network of its own. True or false, such word is fed into the boardrooms before it has time to be evaluated and reach print or the news jriadcasts. The Street also has access in many cases to inside corporate information. Example: \ company put on notice to be ready for a national emergency may know before the public does that such an emergency is in the making or feared. This information often reaches outside ears—bankers, brokers, businessmen having contacts with the firm. Red Fire Forces U.S. 'Copter Down SAIGON, South Viet Nam (AP) —A U.S. Army troop-carrying helicopter was forced down by Com- mcnist fire Thursday in Viet Cong- controlled territory. An unconfirmed report said the pilot was injured but official sources said they had received no report of any casualties. HEALTH CAPSULES hy Michael A. Pcttf, M.D. WHAT CAUSES BEP SORES 1 THEY RESULT FROM PROLONGED PRESSURE OVER BONY PROMINENCES SUCH AS THE HEELS ANP'THE BONE AT THE BASE OF THE SPJNE. TOMORROW: EYE RANGER.' Prank Leads To Arrest NIXA, Mo. (AP)—A milk truck driver who is a regular customer at the Nixa Bank tried "a little joke" on two women bank em- ployes, but it backfired with his arrest and questioning. * Bill Sisco, chief deputy sheriff, identified the prankster as B. 0. Black, 42, of Aurora, Mo. The deputy quoted Black as saying: "I thought the girls would know me. I just did it as a joke." A man walked in the bank wearing a woman's stocking over his face and handed a note to one of the, women tellers. It read: "I'm deaf and dumb. Please cash this check." Mrs. Helen Price, one of the tellers, cashed the $205 check and called' the cashier, H. A. Yates, who was at lunch. Yates called the sherifl. The man had returned the money to the bank, minus his mask, by the time the two deputies arrived. He apologized to the women for his prank. Create Land Scana'al KANSAS CITY (AP) — Phony real estate salesmen are creating the greatest land scandal in recent American history in the Southwest and in Florida, four officials of the National Association of Better Business Bureaus said Thursday. ! Investors, mostly low - income ! persons, will lose over $100 Million and the scandal is still growing, they said. The statements were made at a regional meeting of the association by Victor H. Nyborg of Rye, N.Y., association president; Loell P. Nicholas, general manager of the Des Moines bureau; Kenneth Barnard, president of the Chicago bureau, and Joe B. Birkhead, head of the Kansas City bureau. Barnard said low - incctme persons are buying—sight unseen on Pog* 10 Garden City Telegram Friday, October 26, 1*62 the installment plan — swamp land, remote desert or inaccessible mountain land for retirement and investment purposes. "The Florida land promotions of the 1920s pale into Insignificance when compared with what is happening now," Barnard said. "When this thing breaks, and it is going to break, thousands and thousands of people are going to raise hell." YOU have a friend at Th* Fidelity . .. TRADING? There's always a Best Place For Everything AUTO LOANS... It's The Fidelity State Bank! The Fidelity State Bank ,. "Growing with Garden City" Carload Metal Cabinets and Sinks REMODEL OR ADD A NEW CABINET OR SINK IN YOUR KITCHEN ,. t .24.x,i,6;*--,ii WALL ! -';:|f *fo;*;" CABINETS u * 30 x n ' REAL VALUE No. 610 42-Inch Sink Only by purchasing hunoVaoU •f thaia quality link* eould wa male* thai* lew prim pauibla. 88 IDEAL SIZES No. 630 No. 642 .36 x 16 x 20 36* x 24 x 20 ' 36 x 30 x 20 BASE CABINETS UTILITY CABINETS 20 x 42 x II No. 742 OVER-SINK WALL UNIT BIG AND DEEP No. 660 BASE CABINET $34« No. 905 MANY OTHER CABINETS ON SALE IN All SIZES. IT Will PAY YOU TO SHOP OUR STORE. No. 9151 "36 x 40 x 25 tO x 13 x 11 60 x 22 x 11 OPEN EVENINGS TIL 8:00 P.M. ALWAYS — FREE PARKING! Double-Drain Sink You'll nurval at tha baauty, tht ruggad faaturai of (hat* f!n» tinki. Double-Bowl, Double-Drain Sink Mak* your kilchan mera baautiful . . . more convaniant . . . talact yaur n«w link now . . . and uva. WELLS-ROBINSON FURNITURE WAREHOUSE OUTLET 4 Blocks West of Main — 11th & Fulton BR 6-3031 Affiliated With Wells-Dick, Dodge City & Wells-Thompson, Great Bend,

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