European Stars and Stripes (Newspaper) - July 22, 1963, Darmstadt, Hesse Monday july 22, 1963 the stars and stripes Page 13 . Prescribed Strong pick me up for Dollar outflow by Harden chamblir8 it new York a the and pm n str Nylon has prescribed Strong w Medicine for the nation s balance t of payments illness that has recently taken a Turnor the worse v. These efforts to preserve the h Dollar s Good rating in internal St Lonal Commerce look the spot t Light in lost week s economic events. The Federal Reserve Board s boosted the interest rate it charges commercial Banks thereby seek a ing to make investments Here at 1 Tractive enough to keep More 1 Money at Home. C president Kennedy called for tax on Purchase of foreign stocks t on uj3, Exchange to discourage investment Money from leaving via i that route. And or. Kennedy announced that the country has for the first time arranged to tap the inter National monetary fund for $500 million if needed to counter an speculative raids on the Dollar. The moves represent further of its to treat the International 1 on Stock trading practices. C a ments problem selectively 1th least possible Side effects on Ifie Domestic Economy. O that Domestic Economy mean title continued to perk along t earthly. While the threat of a rail like still hangs darkly overhead 1 ice have been a succession of sheer Long business developments. Steel production turned upward tug getting the following a 1 new labor contract May not last 1i Long As expected. The Federal 1 serve Board production Index 3it 135.1 per rent for the fifth 1 consecutive monthly record. 1 president Kennedy reported that 1igher-Lhan-expected tax Revenue and lower than expected spending reduced the budget deficit for their ear ended june 30 to s&2 billion t Welcome change from the s&8dill Ion that had been forecast another highlight of hut week s news waa still being evaluated for plus or minus values. That was critical report by the securities and Exchange commission Sec the balance of payments prob of had raised new concern be Luse it has faltered this year on t hat had seemed to be a path in tie right direction the current problem is general 1 t dated to 1958. When the deficit 3umped suddenly to x3.4 billion v hat Means that America paid out 1hat much More for purchases n investments military and econom i t Aid and the ilke than it got atack from foreign countries. In i 9s9, the deficit grew to sos Bill ton. And in i960 it was $3.9 bit c Ion. Then it we trimmed to 2� ill Lon in 19 11 and lost year it i Ras Down to us billion. 1thli year however imports " Irth a new wave of Domestic pros i Perley and More Money to spend 1 m such things Rose faster than sports. And investments abroad where the Industrial growth rate s higher than in the United states Rase faster than foreign invest ments Here. Largely because of these two trend changes the Defi t he inn to grow an Nuu rate of about $3 billion. E it was against thin background nit the government Federal Reserve Board f mde it Clear tuesday when it t Donled its discount rate from r to 3i per cent that its intent a Nti to defend the Dollar. This was to distinguish the change from the i lore traditional purpose of a rate 1 pc. Which is to lighten credit at Lime when a Boom threatens to of out of hand. This time the e Ward indicated it would not apply i ther fiscal screws on credit but c would use every Means at its Dos sisal to prevent All but Short com interest rates from rising fhe idea in that it s Short term Noney that has been jumping the a order for higher Quick returns Kennedy told the con Gress thursday while none of higher interest rates at to time when our Economy is opera ing he Tow capacity in increase inshore term rates. Should have . Exchange values stocks at $382,998 billion new York Impi the new n the nation s publicly held com currently on the Exchange there the highest total Al York Stock Exchange which Deal carefully in some Larce figures at times has issued a report showing that at the end of Juno the Market values of All stocks listed on the big Board was $382.998,000,000. Even to a nation accustomed to Jet age speeds King size cigarettes preparations for shots at the Moon and consumption of 7 million Auto mobiles annually the figure is respectable. With other figures when com pared with similar reports Issue ii by the Exchange a Quarter Century ago it is a measure of the trend to going Public which has grown among Bull nuns concerns Over the years. On july 1. 1938, there were 862 companies with 1.256 issues on the Exchange there Are now 1503 companies about 90 per cent More and Usk issues. Including both com Mon and preferred. At that earlier Date according tothe nose year Book the Market value of All issues traded on the Exchange was f41.961.873.lm. In Dollar sign measure although the Dollar has shrunk in value since 1938 the Market value of All issues was about one ninth of what it is now. The month end average Price o All listed stocks at the end of june this year was s4&34 at a similar time of year in 1938 it was s29.4l one thing lacking is a reliable comparison of How Many shareholders were represented in the Stock Market of 1938. The Exchange does not Hove even a Good Estl mate of the Public holdings o stocks that were listed with it that time. The first of its of census of shareholders was undertaken in 1992, when it estimated93 million americans owned Stock . Exchange s most Active list new Yolk Impi the 2 most Active stocks traded on inner Voik stuck Exchange i week. Pm c t my " m m ii 11 an. In Mamm. To ii maj � 5 j5j 71 a. Mem a m ii sigh m7.3m ii w pc Mlac of a St i i in it to we am 114 7i m Jhk to t7.tt irk m 01 tit sum 4 4% -1 panels by Early last year it Estl Nateo the number had grown to 17 figures include both those who hold tinted stocks recorded on the books of major securities exchanges and those who hold unlisted stocks which Are traded ver the counter. Roxy fight found won e5y insurgents Portland Maine up Dis ident stockholders have won a found in their proxy Battle for control of the giant . Smelting. Refining it mining co.. District judge Edward t. Gignoux ruled in favor of the stockholders after incumbent of ices asked him to dismiss an in unction motion. Proxy tight earlier this year led to Jack Wilder president of an Sonia wire a Coble co. Of Ashton 1.1.the Wilder group claimed they Lud elected tour directors. 520,601 to 364,131.however, management Caulmet the stockholders should have won 73 per cent of the vote not just a majority to elect Hie four directors. At that Point Wilder group went to fundamental matter in controversy Here is the right to control a Dollar corp Gignoux said in his ruling he sold the next step in the Battle will to argument in sep tember on a motion by the insurgent group seeking a summary judgment that would seat the do rectors they say were elected May. Goodyear making pipe biting Hose los Angeles up a a coupling Hoie that bites Down or a pipe like a Boa Constrictor ha1 been developed by Goodyear Tir rubber co. Floyd Mcclellan technician Good year s los Angeles Plant use the ancient principle of the cd Nese funner Pule to develop those that grips pipes and nox Etc i by itself without the need of coupling fittings or clamps. T the chinese Finger Puzzle con Olsta of a braided tube of most an fabric. Put your Inger in it an the harder you pull the tighter erlans. Relax the ores Suro and jul Tsitsi. A sit is is a come Oft easily. Are More machinery companies listed 144, than any other Type. Utilities with 136, Are the second largest class. Including 117 Gas and electric concerns and nine in communications. Chemical companies rank third with 109. Utilities shares however have any single group b4,Zau,, 1,697,000,000 shares of any Nelm to Niin do quo yv1 to Eoff tvs Gie group it ass Jess Jib by motor driven toothbrushes sell briskly in . New York a electric tooth Bru hcs introduced on the american Market Early last year have become a fast Selling item. The Wall Street journal reported. Since general electric an Squibb division of Olin Mathieson chemical corp. Introduced the brushes about 35 brands have come on the Market several imported from Japan the journal Aid. Salea Booge put mated that retail to i of All models totalled $28 million hut year and predicted the figure will reach 160 million by 1961the units Range in Price from j2.98 to 919.95.in most Type an electric Moto in the handle drives the Brush Section in Short vertical or Norz Ontal strokes As fast As 2.00 times per minute. Models general come with interchangeable Bruit pc lans for different members o the family. Uyette buys Stock new York up Rayale inc., maker of Beauty Salon sup plies in id it Wihs bought All Tharani to 1 Stock of Faberge inc maker of fragrances and cosmetic amex stocks moved lower on eased trading new York up stocks moved lower on the american Exchange last week reflecting a series of Adverse news develop ments. However activity lightened on the decline. Many foreign issues broke sharply following president Ken Nedy s request that Congress Grant a temporary new tax on american investment in foreign securities. Reacting to this news were be Telephone of Canada Oft 2tt Canadian javelin off 1. And Ford of Canada Oft 4tt.other sections of the list Wen hard hit when the securities Exchange commission recommend that floor traders be abolish Efrom both the amex and the new York Stock Exchange. New York up the 11. Most Active Stock traded on the american Stock Exchange Las week Ift Tat Cini cd a i Kil Hullm w 1 til to i pro iu.1m l Broduk m ih.4m 7u u re to Lar it. To ten tit 11% -1aum Oil 64 i7.im u gum a same uncertainties which infill enc cd big Board and America Stock Exchange the National quotation Bureau d Index of 35 representative indu t trial stocks finished at 139.60 Down 2.51 from the clone a week ago. C 4 i at 594 und Grinnell con dropped 6 pc to 86 4. Other loser include Ell Lilly Down 5 at 86 g and Matheson co. Down 4 at 17. T a spectacular gainer we inventors diversified services Wulc to spurted 17 to 229. Ethyl Cor in the Industrial lint Christiana tacked on 4h at 44%. The insurance shares were a r hard. Connecticut use plunged. 10 at 155. Aetna life was shaved s for 8 i at 152 and Philadelphia Luo n dipped 0 to 105. Among the Bank shares traded i. Bank of new York Rose 7 to 156\ h but Chase Manhattan shaded % at. 88% and Morgan guaranty lost 21 at 118
