Redlands Daily Facts from Redlands, California on April 11, 1964 · Page 11
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Redlands Daily Facts from Redlands, California · Page 11

Redlands, California
Issue Date:
Saturday, April 11, 1964
Page 11
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Stocks lower for week NEW YORK (UP!) - Stocks finished lower in the averages this week but Wall Streetcrs were pleased at the sturdiness which the market showed against an adverse news background. Brokers were considerably surprised by the market's ability to absorb both the indictment of eight steel companies and another close shave with a nationwide rail strike. Prices rose to their third consecutive high on Monday but drifted lower Thursday under the pressure of the indictments. Prices eased again Wednesday, this time drooping under strike calls against the Illinois Central lUilroad. Prices milled listlessly on Thursday when sold off near the close when it appeared that an immediate solution was not forthcoming. In the final session rails featured the market as prices moved up again. . The economic situation continued to look bright and grows rosier with each incoming earn ings report for the first quarter. The basic economic indicators continue to point upward. Dow-Jones industrial average slipped 1.24 to 821.75 and rails lost 0.18 to 193.28. UtiUUcs tacked . on 0.01 to 285.78. Standarid & Poor's 500 stock in dex skidded 0.09 to 79.85. Volume for the week amounted to 27,416,090 shares compared with 29,689,310 shares a week • earlier and 22,175,104 shares in the same weke last year. Of the 1,526 issues traded, 737 advanced, 3i23 to new 1964 highs while 619 declined, 84 to new lows. Chrysler topped the market in activity, climbing 3is to 48 on a turnover of 499,900 shares. Brokers attributed the strength in the stock to speculation over the company's first quarter earnings statement which is due next week and anticipation of a possible dividend boost. UN trade, development conference in Geneva By PHIL NEWSOM UPl Foreign Newt Analyst PALAIS DES NATIONS, Geneva—Outside the blue-carpeted assembly hall of this birthplace of the ill-fated League of Nations, Ihe view e.\tends across Lake Qeneva and the hilly be yond to snow-capped Mont Blanc. The marbled dignity of this Palace of Nations and the beauty of its setting would seem to deserve a better title than the one which has settled on Geneva as the "city of lost causes. It was here that Emperor Haille Selassie of Ethiopia pleaded for help against Italian Fascist aggression led by Beni to Mtissolini. And here the old League of Nations, first worldwide symbol of hope, turned a deaf ear to his plea and thereby scaled its doom. The United Nations, successor to the league, has taken over now, and as of this moment, haUways and conference rooms are abuzz with the talk of earnest men representing 122 nations, papers in band and briefcases under arm. It is the.United Nations con ference on trade and develop- Business highlights By United Press International Automotive: Ward's Automo Uve Reports—Output of cars and trucks in the U.S. this week estimated at 209.513 units compared with 208,930 units a week earlier and 1S0.557 units in the same week last year. Bank clearings: Dun & Bradstreet Inc.—Week ended April 8 —Clearing in 26 leading cities 537,097,778,000 against $32,028,043,000 a week before and ?31,288,544,000 last year. Car loadings: The Association of American Railroads — Week ended April 3—Loadings totaled 519,494 cars compared with 528. 157 cars a week earlier and 546,021 cars last year. Year-to- date 6,794,408 cars vs 6,599,112 cars a year ago. Steel: American Iron & Steel Institute—Week ended April 4- Actual production totaled 2,447, 000 tons or 1.7 per cent above the 2,406,000 tons a week earlier. For the year-to-date output totaled 31,687,000 tons or 8.4 per cent above the 29,221,000 tons produced in the similar period a year before. Brazil's leaders launch purge of leftists RIO DE JANEIRO (UPI) Brazil's anti-Communist gener als and admirals today launched a wholesale purge of prominent leftists, includmg two ex-presidents and at least one retired army marshal. Using the powers of their self-proclaimed "rcvoluOonary state," the ministers of war, navy and air suspended the po litical rights of a number of Brazilians for 10 j-ears. Among the first targets of their campaign were ex presidents Janio Quadros and Joao Goulart and retired Marshal Os^-ino Ferreira Alves. Quadros resigned the presidency in 1961 and was sue ceeded by Goulart, over the protests of a strong military faction. The armed forces ousted Goulart in a revolution last week. Others whose rights were sus pended included Communist leader Luis C. Prestes and ex- Gov. Miguel Arrais of Pemam- buco State, who also was ousted during the revolution. Forty senators and deputies were dismissed from congress, among them Congressman Leonel Brizola, Goulart's anti- American brother-in-law, and Congressman Francisco Juliao, leader of the land - grabbmg Peasant I<eagues' of Northeastern BraziL SHOCKED AT AGE NOTTINGH.Ajr, Eng. (UPI)— A civil watchdog committee of this city —traditional center of many of the legendary- Robin Hood's exploits — was shocked Thursday by a report that said more break-in offenses here were committed by boys tmder 14 thaa older age groups. lome e ectric is very pleased to have made the e ectrica insta ation in DEVEL-A-CON'S Sunset Hills be sure fo aftend fbe "grand opening" fomorrow (Sunday) home electric 296 e. citrus ave. redlands phone 792-6666 ment and it has drawn 1,500 representatives of the nations that have and those that have not but hope to get And in the end, it too will bring disappointment. Already the irreverent have dubbed it "the biggest conference ever held an>-where, at anytime, for anjihing, for nothing." Approximately 80 of the nations here was among the have- nots. Argentme Paul Prebish, sec-i retary general of the conference, set the stage for the have-; nots when at the opeBing session he demanded sweeping trade and aid concessions from the industrial nations, including Ugh, artificial price levels for commodities produced primarily] in the Southern Hemisphere. But U. S. Undersecretary of I State George W. Ball proraptlyj applied the cold shower treatment to these aspirations by advising the have-nots to set their, own political houses in order' to instill faith in private inves tori It was ablow to many a have not representative wEo sought an overnight transition from rags to riches with no ques tions asked'. - \ For the have-not used to play ing off the United States agamst the Soviet Union, the Soviet spokesman administered a further blow when he came forth with only vague promises of an eight-fold increase in Soviet trade by 1980. , On this chill note the confer-1 Redlands Daily Faefs Sat., April 11, 1964 - 11 ence opened. . Despite its economic base, it was inevitable that cold war differences should also make] their appearances, and in this the current struggle between the Soviet Union and Red China must be included. It was with an obvious sigh of Russian relief that the Red Chinese were refused a seat. Zanzibar surprised no one by siding with the Communist bloc. In June/final resolutions wUl have been passed. The delegates will go home from a conference already over its budget of $2 million and that will be the end. TREASURE HOUSE Your unused furniture or appliances will find a ready market through Qassified Adj. Decor -by McE^ rwens I. nferior design, color coordination, carpeting, draperies, and furniture in the Sunset tiills model homes created and supplied by McEwen's. McE wens FURNITURE - CARPETING - ACCESSORIES 17-21 WEST STATE STREET 35 Yean In Rtdlandi When furnishing your home or office enjoy the services of a professional NSID interior decorator ot no additional charge - from McEwen's staff of experienced and occomplished decorofors! GRAND OPENING rf SUNSET HILLS Redlands Newest Residential Development for the Discriminating SUNDAY, 12 Noon to 5 p. m. - Pamela Crest - E. Sunset Dr. North 4 Bedroom Homes with 2 and 3 Baths— All Air Conditioned Large 2-Car Garages; Some with Boat Storage Top of the Line TAPPAN Range, Oven, Dishwasher FREE SANDWICHES! ENJOY SOME OF THE DELICIOUS IMPOUND BEEF ROAST COOKED IN A NEW TAPPAN RANGE! FREE! SOMEONE WILL WIN A 25-LB. BEEF ROAST TOMORROW! HEVEL-A-CON INC Every Lof a View Lof 75 hdividually Sfyled Homes Up fo 2,600 Square Feef Complefe with Corpefing, Drapes Landscaped and Sprinklers in $38,500 $46,000 HAL PRICE, Sales Manager DriTj Wfi <»« Caforite Gorifm; f»m Eoif off' GordM an Hihen; Hwn contiKM on Eort S«i». It Diiv. North to firft tiroot en M» - Jomola Crw». UT THE lUItOEIS INCOK- PORATE THE FEATURES YOU WANT IN YOU» HOMEI

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