40 YEARS AGO THIS WEEK: Universal Pictures suspended feature film production “to take stock” of the company’s future, in light of quarterly losses of up to $450,000, President Milton R. Rackmil told shareholders at the annual meeting in New York. But Rackmil said there were no plans to liquidate the company or its studios, and that he expected film production to resume July 1.
THE NEWSMAKER: In a news conference at the Petroleum Club, George T. Goggin urged the federal government to ease foreign oil import quotas on independent refiners. Goggin was president of the Independent Refiners Association of California.
March 9, 1958
Dow Jones Industrial Average: 451.90
New York silver: 89 cents per troy ounce
L.A. Dodgers baseball jacket: $6.99
Cigar: 6 cents