The Corpus Christi Caller-Times from Corpus Christi, Texas on August 19, 1951 · Page 72
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The Corpus Christi Caller-Times from Corpus Christi, Texas · Page 72

Corpus Christi, Texas
Issue Date:
Sunday, August 19, 1951
Page 72
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Market Starts Punching Toward Year 's Top Level Street Peek Bullish Trend Slowed by Reluctant Rails Corpu* Chrirfi CALLER-TIMES, Sun., Aug. 19, 1851 5-Dj NEW YORK, Aug. 18. (AP)--With renewed vigor, the stock market this week again started punching its way toward 1951 peak price levels. The rise was hampered by the-railroads. Buyers were reluctant to step forward while railroad officials were expressing their keen disappointment over the smallness of the recent freight rate increase and while freight business itself was falling. ^ And there was still that Wall Street belief, held by one segment of ^the financial community, that the bull market is weakened by lack of vigorous support from the rails. - . · . - . : - . · . Nevertheless progress was made. The AP average of 60 slocks advanced 70 cents on the week and stood at $96.90 at yesterday's close. That is only 90 cents away from the - 1951 peak. The industrial component 'of the average advanced a strong 11.70 and utilities were up SO cents. But the railroad component moved contrary to the tide and lost 30 cents, " On the .Move Kansas Gly Grain KANSAS cm. Am IS. ' Pi--Wbe*t IIS c»ra. U h»gb,« to I lower.. No. 2 turd and dark hard 2.MU-2.34M: No 2.jT*-t-3X'j; No, 2 r«d Core . t» tarn. Vncluinifd. Ku. 2 while .JuV-ZOZVjN: NO. 3 l.toU-I.Vl*vN: No. ! yeuow HD* nix*« U3H: N-. 3 l.«lv--l.r:i,» 'Cult S curi. UnctwnMd. No. ~J vhitt 83-V»J; No. 3 »»i-«N. . Kallir 2.3C.2.42K..' Ry« 1.11. Barley No. 3 1.24. Soybean* 2.80-2.MN. »r»n S2.1VWW. (thorn ».T»-S«.W. MARKETS San Antonio Livestock SAW ANTONMX AU1, IS. .AP-- (K8MNS* Cattle compared Friday week ago: Meager supplies (laughter " steers and y«.rUn(i steady to sirens, cows »',eaUy to 50 lower, bulb steady to weak, calves and all classes stocters and. feeders firm. Week's top: Steers and yearikits poorly tested, cows 2S.W. bulls .37.75. calves S3.00. itocker ca.ives3T.OU, ztocker yearlings 33.OO. feeder steers 29.00. Week's Dulk: Utility to average commercial steers and yearlings 24.00-28.00. beef cows .21.50-23.50. winner* and cutters I7.on-2l.00. bulls 2S.OO-27.00, good and choice calves 29.SO-32.00. commercial 2S.OO-29.00. Medium to choice !itif« 1)10 lm« nr,; n f ~t »u; ,, _ 'call and utility 1S.00-25.00. Medium to choice since ine low point of this year sloc x*r canns a.w35.oo. trahmans 28.00- June 29, the market advanced five straight weeks, fell back last week, and then resumed the climb this week. The rise of American Telephone! this week by 4% to 162% excited unusual interest. It made a new 1951 high every day this week, was the llth most active issue, and the eyes of its more than a million stock-holders followed the advance. Quick pencil and paper w o r k ·hows that the 32,165,18* shares .of common stock outstanding added $140,722,592 to their quoted value. That, of course, doesn't mean a profit to 'the holders; it means the stock they hold is that much more valuable today than a week Wall Street reports indicated investment fund buying loosted the telephone price. At the :F r i d a y close the stock returned a yield of a little better than 5.S percent on .the $9 annual dividend. Oil Focal Point During: the week buyers focused their attention on firW; one Rroup and then another. Oils pot a. lot of attention, and five of the 20 most active issues were oil companies or had heavy oil interests, The New York Slock Exchange reported first half earnings of 25 oil and gas companies listed on the exchange increased their profits 41,7 percent over a year ago. And crude oil production currently is at an all time high, 9,5 percent above a year ago. . . . 31.00. medium and good -yearrintt ZJ.50- 22!oo'. s t o - s e r i « i e « « r pounds steers 26.SO-29.00. medium cows 21.00-23.0t!, stacker and feeder toulta 2«.00-2T.(«.' I Hogs compared Friday wwlc ago: Butchers and sow* 50 lower, foeS«r plea »:«ady Week's top S3.00, Sulk choice 180-270 pounds ,22.50, «mal! lota J50-170 pounds 21.00-22.00 and 140 pound* 20.SO. Bulk tows l».0j)- 20.50. around 824-450 pound* 18.00, Ocoi! «nd choice 80-1S4 pound feeder pigs W.40- .M.oo, medium l».00. Sheep compared Friday week ago: Slaughter lamb* Mid teederi steady. »heei 50 Inwrr, Utility and cood ipriat lambs S.OO- 2S.OO. yearllnss 2S.OO. Good and choice No. 1 veil *etls*r» 15.SO-1S.50. Cull ewts ».00- 11.00. Medium and 'good ttrlnt feeder Iambs 2i.00-27.00. Yearllnj and 2-year-old brtedini ewes 2I.W. iol!d mouthi Goau compared Friday week aro sales 1,00-l.SO lower. Few loadj medium and good Mhorn Antoraa to small butchers 11.00- 12.Mi mostly 11.7B down, built constnon and medium 9.50-10.SO, culls S.08-9,')8. Kids unevenly steady to-1.00 lower a hea'l at 8,50-8.50. few T.Ofl each. Shorn nannv anrt wether An»oru to stockers m.SS. Spaauli type itocker naaolet 10.59-12.00, New York Future NSW YORK. · Aui. 1»; (API--TuturM BUM* moved in » n»r«w rwige ots die New York Cotton Bxchiat* thli week (taiplte th« many touyinc fuctori is the m»rket. · ·..· · . ; Price chiBKCi ever the week Tinted from live centi * b»l« hlfftw to-TO cents lower nd trader* expreued turprtae tint the market 'bowed «o little reaction to the "jwporte Irom'th* Soath' toM of erop deterioration la the dry area* ot T»xu. Scuatpri tunegted the iov«rcmect ttoclc pi 1 * cotton. Growera were atfvlted to put all ihe cotton they could under loan*. Ctrdlu were recozcmeaded · to ftlmuuue " ' * ' * ' There was torn* hedge lelllnK urlBK the week »nd profit taking cropped up whenever a real upward movement appeared IB the making. ' - : ' Some Farm Bureau oRlclalicuneited the grower put every'other Dale under loan and there were estimated that «* much ai « million baiei might go into the loan. Trude *sltniate« figure* J million to 5 pouetlt ZS-4U lower; bemvier wclrhw 15-28 oww: weinhu below ltt pounos 1S-1-W off. tbc cltulBf lop 22.SO oa »holce SWV 220 pound*; tale »u!k choice 1.90-2*0 poundt 22.0IMS; 2WK8W poundi 21.00-22.00; 300-MO pounds ao.2S-S5: choice 150-180 pounds SO-SO. !175; »ow« around 25 lower it 1T.3M».25; Stieop compared with last Monday: Spring lambs 1.00-1-SO lower. yem-llnn St ower; ewes steady: week'i top of choice and prtjne native springers 31,50 on Monrtny: bulk (or week 2g.00-31.00: itood And choice. iraiei 2T.Ott-30.0fl: Jew *horo yearlings !7.bu-iSoO: s;ooij and choice alauKhter ewes 13.svi5.00:sin»i) lots native teedin* lamb* 24.00-29.00; load choice mixed Jat atid feeder lamb* 30.35. Fort Worth Livestock FORT WORTH. Aug. IT. (API--Receipts of cattle and calves continued heavy here this week, Ntocker and feeder demand wan again extremely broad and prices on moat cla»e of cattle and calve* ruled steady. Butcher bogs sold 50-75 cents a .Hundred lower, sows were lully 50 cents lower and teeder pigs II or more lower. Sheep ami lambs »old generally lully steady. Comparative prices slaughter steers antf yearlings 2U-3S. slaughter cows K-2S. bulls 20-28. sluuyhter clave* 17-34. sttickttr yearlings S3-34. twclter cow» 29-15, sows 19.00 down, f l f t 19.00. fat lambs 31.SO down, feeder yearllnga 2COO dawn. 13.00. : BaUs City LJTestock Average American Income Sets Nation's Highest Dollar Total American* averaged an income of (1*436 for each man, woman and child in 150, the Commerce Department reported today. TMs was a gain of $ll« t or I percent, over 1M8 and was the highest dollar American families were lined up total in history. The » percent rise in average income outstripped the 6.5 percent ("median" family would have an advance in the cost of living: re- income of $3.420. corded by the Bureau o£ L a b o r ; The Commerce Department ar. rived at this average by taking total individual income payments Statistics for J950. but * rise in the tax burden cut down the net gain., for 'M Th« burden pf federal, state and local taxes averaged 1360 during the 12 months ended June 30. 1950. latest period for which of- CATCHING 'THE KANSAS SPIRIT'--Amid the mud and muck of the flood-ruined Kansas City industrial district, famed artist Norman Rockwell sketches scenes of recovery. Rockwell toured the flood-ravaged areas to make sketches for aL painting of 'the Kansas City spirit.' The work will be his contribution to the city, dramatizing its remarkable recovery and the unquenchable spirit that made it possible. WASHINGTON, Auf, 18. fi -- j m a n y people above It aa below it. 'Media*' Family Today's report did not deal in medians. But a report in 1944 based on census studies *aid that if all the more than 50 million leas becaua* of the gita la tkt fap- ulation. V Taking the aggregat* «t dual incomes of their tit* largest increase during IfM w«r* registered by Montarw (» percom), Nebraska and South Dakota (18 in order of income and t h e n percent each). North Dakota and counted off to the middle, that ficial data is available. The rate boosts made it heavier for calendar 1950. In case your family's income is tower than the "average" of $1,436 a man, woman and c h i l d . here's some consolation. The j^reat majority of American families is in the same boat with vou. and dividing by total population. Total individual income includes t h i n g s like dividends, interest, landlords' incomes, profits of owners of unincorporated business. etc.. as well as wages and salaries. The Commerce Department said average incomes ranged from $698 in Mississippi to 11.909 in Delaware and $1,986 in the District of Columbia, stronghold of the federal government. Near the bottom were Arkansas, ??25; South Carolina $831. and Alabama 5836. Near the top were Ne- North Carolina (1C percent each), and Delaware, Florid* and MiM- issippi (15 percent each.) By regions, the largest relative gains were scored by the agricultural Northwest and" Southeast, 14 and 12 percent, respectively. Th« Central and Far West region* matched the national average with an 11 percent rise. New England and the Middle East acored a 19. percent gain. The Southwest, top gainer of 1949, had the »mtll*«t gain in 1950, 8 percent. Average Income The average income for «ach state in 1950. besides those previously shown, was given as follows: IA v*iv vMviji%. vjvnv i iu*j. VU4 . ^ A -_ _ _ ·· Statistics cap be tricky things. !X ada $1 : 8l5: New York $1 ' 8M ft ' and many mathematicians would argue that the use of averages in talking about Income is misleading. For example, the average is Connecticut $1,766. Record Grain The total flow of income to in. dividuals over the nation was a record $217 billion. Thst was a gain pulled up by the large incomesS of u percent over 1949. The" in- 'crease in the average income was of multi-millionaires and others at tile top of the economic heap. (Incidentally most of these huge incomes are taken away in income taxes.) | Many economists would rather; use "Medians" rather than "aver-; ages" in discussing income. The median income is the "ni i d d 1 e income"; that is, there are as HOBART-DAYTON FOOD MACHINERY DAYTON SCALES S»ie* -- Service rtt H. I. B. M A J O R 1-4412 Fort Worth Grain FORT WORTH. Au». 18. (A* 5*,«**· Vt cent lower; No. i hard Z.5J- *.*M +. Corn 3 cars, unchanged: No. 2fvell«w Texas 1.96-1.95: No. 2 white Texas S.l» 2.13. Outs « can. K cent lower: No. I whit* i,om-i.o2H. Barlpy no receipts; 1 cent nlxher: Ho. 1 1.4«-1.9N. Sorghum* 4S cars, unclianied: No. 1 yellow mllo 2.4T-2.5! a 100 pounds. Frank Norris Jones, D.D.S. aBBouncet th* openint of tali offices Practice limited to ExodooUa. and Orai-plastlo 8ur(*rr- 17191/j S. Brownie* Dial !-M7t KAKSAS CITY.: Aug. IS. (AP)-- . -- Cattle: Compared with Friday last slaughter steers and cows,, steady to blgher. belters generally steady: feeder buyers purchased great majority tlesh 2-way steers; stacker* xsd feeders activr stroM to so hieiier: prime . 1,224 nojud tf.a steers 37.75: few loads high e.holce to low prime 36.50-37.00; bulk good to high clioice steers 32. 50.3S. 23; i loads commercial to low good grassurs 2fl.00-3l.00: 3 loads utility and low commercial. 27.002S.I10: 3 loftrta : prime 880-923 pound fed heifers 37.00-25; lew loads high choice and prime hei.'ers and mixed vearllngs 35. W38.75: bulk sooa and choice 3l.5n.3S.2D; uJillty and commercial cow« 22.lKv.J7.5n; good ana choic* «37 pnur.e yearling stock steers 36.40: medium and good vearllne slockers 30.00-3S-40V high good 724 pound 35,25; choice .fleshy las pound feeders 35.S1; sliftable number ,of good and- choie.* to avreage good KO pounds. up 2g.40-33.50: feeders 950 pounds up 34.00-XS.2S: medium to average good 850 pounds up 3S.40-33.SO; good fleshy 705 pounds feeding b«lf«rs 32.25: few good and choice stock calves 34.00-S9.00; , load 2*1 pound 'mixed steer and heifer calves 40.00. · · , Hogs compared with last f rlday: Very uneven. lighu and butchers sealing 180-1^0 *BACK TO SCHOOL?* Your Name GoldaUmped on Luggage etc., is l*reteetHH» -- "Important ·t MICHAEL'S · 311N. Chftparnl Ph. Z-6862 · Dr.R.G.Gndeen CHIROPRACTOR ·y Appointnttnt 7-5882 million bales might the figure. AUTOMOBILE - TRUCK - FIRE Form f olkiet--AT LOW COST Dividend 30% On Currently Expiring Auto Policies SEAQUIST LEE 331* Aren Ph. 3*0171 MAKE APPLICATION NOW For Business Administration Courses and "S«H Jmproveinent Courses U.C.C. EVENING COLLEGE Senior Downtown Collef e, Me§quite Taylor V««*r»» TninlUff DM 4-M1I «r WrN* P.O. Btt IfM, CHv»w ChrMI in LYMOUTH you get /9 of 20 features found in high-priced cars! Study this Quality Chart and let the FACTS show you where the VALUE is Wouldn't you say that a good way to judge the valu» of a low-pric»d car is to compare it with a high-pricea* car? Plymouth welcomes such comparison. Of 20 quality features found in ths highest- priced cars, Pfymoufri has 19, the nexf low-priced car has JQ, and the third has only 5. ,' · * · Moreover, Plymouth has features that you can't get tven in some of th« most expensive cars--new priflow Shock Absorbers, Safe-Guard Hydraulic Brakes, Safefy-Rim Wheels, and many other engineering advantages. Your Plymouth deafer will give you full particulars about the Quality Chart shown here: But don't }ust compare features on . paper. Compare the* low-priced cars on the road! Tata Plymouth's new "Safety-Flow Ride." Your Plymouth dealer will fee glad to arrange a rfemonsfrafibn now. 1 ·* ! 1 HORSIPOWIR OF 97 OK MORE | Abundant power for fast pickup or extra putt 't. | COMMISSION RATIO 7.0 TO t OR «REATIR | "Squeeze!" top efficiency from every drop of fuel | Oil FILTiR \ | The cleaner the oil, the longer an engine last* I POSITIVE PRESSURE LUBRICATION ijj Safeguards vital bearings and moving engine parts | WHEEUASE OF lit" OR LONGER i Allows be fully cradled between the wheels 1 CHAIN CAMSHAFT DRIVE | It's quieter, longer-lasting than direct gear drivs | OIL-IATH AIR CLEANER f Keeps out dust, grit-- prevents clogging, excessive wear | FLOATING OIL INTAKE | Draws in onfy the cleanest oi! for longer engine life f: DUAL AUTOMATIC SPARK CONTROL 1 Adjusts timing for best performance at all speeds 1 rr-PASS WATER CIRCULATION | Faster warm-up and better protection for the engine § PRECISION CONNECTING ROD BEARINGS | More dependable operation-- long, trouble-free .service I IM.OATIN PISTON PINS | Eliminate the possibility of piston pin "binding" | ROLLER IEARING UNIVERSAL JOINTS ; 1 Save power anil run irhoothly for there'* lew friction . i CENTER STEERING | This means that steering.tie-rods are of equal length 1 TAPERED ROLLER DIFFERENTIAL IEARING* | Less wear, smooth and quiet operation of the rear axle | FULL HOTCHKISS DRIVE | Drive .is through springs for cushioned stops and starts | CENTRIFUSE IRAKE DRUMS | Stronger, cooler-operating. Safe, positive braking action | "SEA-LEG" REAR SHOCK AISORBERS | Reduce rear end sidesway as well as up-and-down motion | GENERATOR 40 AMP. OR GREATER | Full battery charge for reliability in all weather 1 AUTOMATIC CHOKI * | Easier starts, faster warm-up. No wasting of gasoline. f " - - ' - - - . - · - v | TOTAL 9UALITY SCORE Plymouth Crjnbrook Yes. Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes" No Yes Yes Yes Yes Yes Yes 19 Low- Priced C»r "A" Yes No Yes Yes No No No No No Yes Yes Yes Yes Yes Yes Yes No No No No 10 Low- Priced Cir "8" No No No No No- No No No Yes No No No No Yes Yes No No Yes Yes No 5 High- Prictd C»r "A" Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes /Yes Yes Yes Yes Yes Yes. Yes Yes Yes Yes 20 $$££$. High- Priced C»r"B" Yes Yes Yes Yes Yes No Yes No No Yes. Yes Yes Yes Yes Yes Yes No . Yes Yes Yes 16 ¥$E68ra?' High- Prictd C*r"C" Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes No Yes Yes Yes Yes Yes Yes Yes Yes IS ®SsS«38? High- | Priced f C»f"0" § - ' m sl Yes I P ·Yes 1 »s Y « ' i Y » 1 Yes | p Y « 1 Y e s . J .Yes I Yes | Yes 1 ·;.YM-J ·^J - Yes 1 Yes 1 Yes| Yes 1 -Yes- 1 ^ Yes. | Yes : 1 ' Yes . | ,20 | SSSSSSSSSMl Where value is the yardstick Equipment iiti Utm »« subject Is the tvailibittty of miteilslt Plymouth is the rule DHilMl M WtlTSUI

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