The Levelland Daily Sun News (Levelland, Tex.), Vol. 18, No. 146, Ed. 1 Sunday, February 28, 1960 Page: 6 of 12
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FAGI SIX • -Action A THI LEVILLAND DAILY SUN NEWS, Uvtllond, T«
THIS WEEK IN BUSINESS AND FINANCE
Optimism about business up
Sunday, Prvbruary Jf, I960
By JACK LEFLER
AP Business New* Writer
NEW YORK (AP)—The outlook
tor 1960 business staged a sharp
rebound this week.
When the year started, most
business forecasters saw nothing
but boom. Then came the stock
market decline and leaver than ex-
pected automobile sales. Opti-
mism diminshed.
Now a survey by the National
fadustrial Conference Board shows
consumer buying plans far ahead
of a year ago. For instance, plans
to buy new automobiles are up
57 per cent and new homes up 16
per cent.
A poll of 1,500 businessmen
found them more optimistic about
the second quarter of this year
than they were about the first.
Seventy-four per cent said they
expected 1960 to be the biggest
year ever for business.
The Commerce Department re-
ported the year got off to a good
•tart in January with bigger pro-
duction opening up new jobs and
personal income rising to a record
annual rate of 393 billion dollars.
The automobile industry sold
562,000 new cars in the middle 10
days of February, up about 10 per
•ent from a year ago and the
best since 1957. Nevertheless,
there was disappointment because
(he figure was considerably under
original estimates.
Estimated auto production this
week was 156,000, a gain of 24 per
•ent over last year. The pace-set-
bng compacts accounted for about
16,000.
With steel users indicating they
are not going to build their inven-
tories as high as anticipated, some
fcidustry leaders scaled down esti-
mates of 1960 production to 125
Bullion tons, which still would be
W/?£ Or-----
mc-tAA/e/
PAXTON
INSURANCE AGENCY
a record. The production rate
Stayed close to 95 per cent this
week.
Americans found out their cost
of living had gone down in Janu-
ary but it wasn’t very noticeable.
Lower prices for clothing, new
cars and most meats brought a
drop of one-tenth of one per cent
in the government's cost of living
index.
It was die second straight
monthly dip. Even so, the level
was a record high for January.
Ewan CSague, labor st&stics
commissioner, had a few words of
mixed encouragement: “The liv-
ing cost level is not going to move
anywhere tor the next couple of
months.”
Most Southern cotton mills an-
nounced a voluntary wage raise,
generally about five per cent.
Some mills immediately boosted
prices on knitted goods and den-
ims.
Elsewhere on the price front,
gasoline went up and fuel oil
down.
The stock market dipped early
in the week and then showed
stronger signs.
Stock sales amounted to 12,689,-
645 shares during the latest week
compared with 17,290,350 the pre-
vious week. On the bond market,
sales amounted to $23,267,000 par
value compared with $30,743,500
the previous week.
G. Keith Funstcn, New York
Stock Exchange president, urged
reduce stock margin require-
ments. He said it was needed to
protect the liquidity of the market.
The current requirement is for an
investor to put up 90 per cent cash
for stock he buys.
Briefly around the business
scene: Esso Research & Engineer-
ing Co. has developed a process
that may bring on multicolored
pavement for highways and air-
port runways. . . . United Air
Lines bought 20 Caravelle jet air-
liners from Sud Aviation of France
W. L. Breshears
hosts church class
hospitality Friday
Mr. and Mrs. W. L. Breshears
were hosts to the Fellowship
Class of the First Christian Chur-
ch at their home on the Brown-
field Highway at 7 p.m. Friday,
Feb. 26.
The group enjoyed a covered
dish meal and played games of
forty-two, canasta, and bridge.
Those enjoying the hospitality
were Mr. and Mrs. E. C. Seifert,
Mr. and Mrs. Doug Morton, Mr.
and Mrs. Keith Lane, Mr, and
Mrs. Bemus Gray, Mr. and Mrs.
Laroyce Gray, Mr. and Mrs. Vic-
tor Childress, Mr. and Mrs. Ray
Schwab, Mr. and Mrs. Joe Stub-
blefield, Mr. and Mrs. Bud Davis.
Mrs. Breshears is the teacher
of the class.
for 65 million dollars. . . . Amer
ican cigarette consumption in 1959
was at the rate of 190 {Micks tor ev-
ery person over 14 years. .
Exports of goods other than mili-
tary in January is estimated at
$1,442,000,000, compared with 61,-
286.000. 000 in January 1959. .
Radio Corp. of America has de-
veloped an electron tube for pos-
sible use in space communica-
tions and transoceanic television.
Livestock market
summary for week
CHICAGO (AP) — (USDA) —
Following is a summary of the
hog, cattle and sheep markets for
the week and estimated receipts
for today:
Hogs 100; barrows and gilts 75-
1.00 higher, sows 75 higher.'At the
close a select lot of 60 head mixed
No 1 and 2 219 lb butchers
brought 15.25, highest price here
since Aug. 26. The next price to
the above mentioned 15.25 lot was
15.15 for a comparable lot with
other No 1 and 2 190-220 lb lots
14.74- 15.10. Mixed No 2 and 3 200-
280 (b barrows and gilts com-
prised all but a fraction of the
supply and sold from 14.25-14.85.
Sows weighing 330-550 lbs ranged
from 11.50-13.00.
Cattle 100; good to prime
slaughter steers 50 cents to 1.25
higher with weights over 1300
lbs at full advance and some of
these 1.50 higher, standard and
below steady to weak, heifers
strong to 50 cents higher except
standard and good steady to weak
cows 50 cents to 1.00 higher, bulls
steady to 50 cents higher, veal-
ers steady, load prime 1284 lbs
steers 30.50 highest here since
July 15. Bulk prime steers 1100-
1400 lbs 29.25-30.00 five toads 1100-
1285 lbs 30.00 Wednesday, bulk
mixed choice and prime steers
1400 lbs down 28 50-29.25; few
loads high choice 1150 lbs down
up to 28.75 late; bulk choice
steers 25.75-28.25; few good and
low choice 1440-1590 lbs weights
24.25-25.00, good steers 22.75r26.75;
utility and standard steers 18.00-
23.50, choice and prime 950-1120
lb heifers 27.75-28.25, bulk choice
heifers 25.75-27.50, good 22.00-25.50
standard heifers 19.00-22.50. Util-
ity 16.50-19.00. Commercial cows
15.50-17.75 at the close, utility
14.75- 17.50, utility and commer-
cial bulls 20.00-22.00. Few choice
vealers 31.00-32.00, good 29.00-31.00
standard 23.00-29.00, utility 16.DO-
23.0.
Sheep 10; slaughter lambs 25
to mostly 50 higher; ewes steady
to strong. Good and choice 90-115
lb wooled slaughter lambs on the
close 20.50-22.00, utility closed at
19.00-20.50, culls down to 14.00.
Good and choice 90-110 lb No 1
pelt to fall sham lambs 30.00-
20.75, cull to choice slaughter
ewes 6.508.50.
KISSIN'
The grand and reserve champions of the
Stock Show exchange friendly nuzzles
swine division at the Smyer FFA Fat
after the judging is over. Showing the re-
COUSINS
serve champion Berkshire at left is Ar-
thur Hughes, while Leroy Bland has the
grand champ Poland China. Hughes also
won the swine showmanship award.
I HAVE MOVED
It's Only Across Th«
Street, But...
I HAVE CHANGED
PRODUCTS
TOM ALEXANDER
! Am Now Operating The
PHILLIPS 66 STATION
At 601 Houston
My Invitation:
I cordially invite the continued patronage of all the old customers who were
so faithful at my old location which was just across the street from where I am now
located. I also extend a most sincere invitation to others of you whom we have not
had the privilege of serving to visit us in our new location. We will do everything
possible to give you the kind of service you can rightfully expect from a modem
service station and we believe we are handling the very finest petroleum products
on the market.
Sincerely,
, Tom Alexander
Gasoline - Oils -Tires - Batteries - Accessories
WASHING - LUBRICATION
Tom Alexander
PHILLIPS 66 SERVICE
Popularity contest
winners are named
Kim Brown, five-year-od daug-
hter of Mr. and Mrs. Dewey
Brown, and Key Karnes, two-
year-od daughter of Mr. and
Mrs. A. K. Karnes, were the win-
ners of a chidren’s popularity
contest sponsored by Beta Beta
Srgna Phi.
The winners were announced at
the presentation of Beta Sigma
Phi’s play, "Running Wild” and
were given loving cups by Mayor
•J. Spencer Ellis.
The children were selected by
money vote with each penny coun-
ting as one ballot. The money
was donated to the Cystic Fibro-
sis Foundation.
Invalid woman dies
in residence blaze
WAXAHACHIE (AP) - Mrs. I.
J. King, inValid wife of the presi-
dent of toe board of trustees of toe
United Presbyterian Home, died
Saturday in a fire that heavily
damaged her home.
King, jumped from a window on
March 18 showing
set for senior play
Levelland High School seniors
will present "Cloud Seven,” a three
act comedy, March 18 in the high
school auditorium.
Roger Lawton, speech instructor
at the high school, is director of the
play, while Mary Beth Wofford is
student assistant.
Cast members include:
Jimmy Barton, D. Barstow
Trumble; Maryhill Fuqua, secre-
tary; Dwight Funk, Newton Reece;
Tommy Latham, the commuter;
Sandra May, Sally Reece; Ricky
Brasher, Russ; Guy Davis, Bies-
muller; Dawn Hamill, Mary Reece;
Ronnie Tatham, William Double-
day; Charles Railsback, Marlowe;
Jan Musslewhite, Tiona Bostwick;
Dick Tubb. delivery boy; Cora
Beth Gillespie, Mrs. Potter; Bar-
bara Golden, Mrs. Doubleday;
Margaret Fietz, Dudly B. Bost-
wick; Judy Blair, Helga Quinn.
toe second floor of the frame
home. He was slightly injured.
The United Presbyterian Home
is now located in Dallas but is to
be moved here later this year.
Mrs. Kennedy
gives program at
FTA club meeting
Mrs. Polly Kennedy presented a
program on "Exceptional Child-
ren” at the meeting of the Future
Teachers of America Thursday
night, Feb. 25, in the home of
Jeannine Watson. 1306 8th Street.
A report on toe state conven-
tion was given by Phyllis Railsback
and the treasurer’s report was
made by Harold Combs.
A discussion was held on the as-
sembly program THE FTA is re-
sponsible for, and a discussion was
held on the selection of the two fav-
orite teachers, a man and woman
teacher.
The group voted to serve dough-
nuts and coffee to the teachers
Monday in observance of Public
Schools Week in the dining room
of toe homemaking department.
Refreshments were served to
some thirty FTA members, the
sponsor, Mrs. Pauline Winning-
ham and Mrs. Kennedy.
ELECTRIC CO-OP MEANS
PROCLAMATION
WHEREAS for the past several years, Public Schools
Week in Levelland and Hockley County has been set aside as
a special time to place increased emphasis on our educational
system, and
WHEREAS during this period, parents are eteoMnf-
ed to visit the public schools, and all citizens are urged
through special programs to recognize the tremendous goal
of education, and
WHEREAS it is the goal of the people of Lereflend
and Hockley County to make our schools among the finest
in the state and nation, and to achieve this citizens are urged
to take an active interest in the school systems and to co-
operate with their school boards, superintendents, princi-
pals and teachers, and
WHEREAS never before in our history has there
been a greater need for educated leadership, leading schools
to train our young people in science and technology to beep
pace with world events, and
WHEREAS it is important to remember that our public
schools will furnish our leaders of tomorrow with the basic
human, moral and spiritual foundations necessary for mors
advanced training and knowledge,
THEREFORE, we, as mayor of Levelland and judgs
of Hockley County, do hereby designate the week of Febr-
uary 27 through March 4, 1960, as PUBLIC SCHOOL WEEK
in Levelland and Hockley County.
In official recognition whereof, we do hereby
affix our signatures this 23rd day of February,
I960.
J. SPENCER ELLIS
Mayor of Levelland ,
L. G. OWENS
Judge of Hockley County
m
/
ACTIVITIES
GREAT
SOUTH
ERNER8
IN 1059
TO RURAL TEXANS
R would ba difficult to count lb* blessings
the electric cooperatives have brought, and
Impossible to list them in order. For how can
you choose between running water, or
electric lights, or refrigeration, not to
mention literally hundreds of home
appliances and work saving devices.
But there’s no argument that rural Texas Is
a far better place to Rve because of the
member-owned electric cooperatives that
are paying their way with interest.
The Electric Cooperatives of Texas bor-
rowed money to build their own electric
systems. And they are paying back principle
and interest with honesty and industry, while
providing PARTNERSHIP POWER FOR
PROGRESS.
LAMB COUNTY ELECTRIC CO-OP.
The activities of Great Southerners to 19(9
made possible another record year of serv-
ice. We passed several milestones. Ob Feb-
ruary 4, we issued our millionth policy;
on June 24, our insurance in force pawed
the billion mark, and on November 1, ma
celebrated our 50th birthday.
During 1959 Great Southerners delivered
13,939 policies for new life insurance at
$134,881,619, bringing our total insurance
in force to $1,026,599,641, mprymitad hr
237,073 individual policies.
PAVMBMTS TO —I toPIWOHMS
a pouovowwne
In 1959 payments were made fa «i wnoant
of $12,394,586. Of this sum $6,199,528
was paid to living policy owners whfla
death claims amounted to $6,195,058.
Since organization, these hawa
totaled $189,929,738.
AIHTI
In 1959 our assets increased $11,451,401.
to a year end total of $216,063,361.
khjcvowmm’ mamvw
Reserves for Policies and contract obliga-
tions totaling $187,715,819, or 87% at
all assets, are maintained for the protection
of policyowners.
During 1959 we invested $25,697,601 to
mortgage loans. At year end, our investment
in mortgages throughout our territory
totaled $136,366,665.
In addition, the company invested 94,M6r
857 in bonds and stocks, most of which
was invested during the current year in tag
exempt bonds of political subdivisions.
Total investment In stocks wtd bands
amounted to $54*773,433.
LOOK I MO KMVWAMO TO THU I
AS A O It BAT DKAM FOVt I
During the years ahead Great
in your community will continue to bring
the benefits that only life
guarantee.
MB YOOm OWBAT
WHBN MB CALI »
ovu a ski ion at soaci
, V
Ufa, Hwltti and Proparty Inturanca
KEITH A. LANE
1310 9th StrMt
Levelland, Texas
Phone: TW 4-3945
RUSSELL L. SANDERS
210 Ash Avenue
Levelland, Texas
Phonet PW 4-2SA7
‘.Ma
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Brewer, Orlin. The Levelland Daily Sun News (Levelland, Tex.), Vol. 18, No. 146, Ed. 1 Sunday, February 28, 1960, newspaper, February 28, 1960; Levelland, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1130417/m1/6/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting South Plains College.