Markets Slip as Investors Brace for Higher Rates
In New York trading the Dow Jones average fell 5.04 to 875.53 as declines outpaced advances 3 to 2 on the NYSE. Investors cite rising interest rates and weak corporate profits amid Phase 4 concerns.
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Newspaper
Childress Index
Location
Childress, Texas, United States of America
Date
Jul 03, 1973
Page
1
In New York trading the Dow Jones average fell 5.04 to 875.53 as declines outpaced advances 3 to 2 on the NYSE. Investors cite rising interest rates and weak corporate profits amid Phase 4 concerns.
Memphis native Robert Crooks was appointed principal of Wilson and Lamar Elementary schools by the Childress Independent School District board. He succeeds resigning Robert Copeland after six years as junior high principal at Dimmitt, with prior service at Shamrock Lubbock and other districts. Mrs Crooks holds degrees from West Texas State University and is hired subject to assignment. they have two daughters.
President Nixon will address Watergate in an appropriate forum after the Senate Watergate committee finishes its current phase. The White House says hearings will be held daily until Aug. 3 to conclude the break-in and coverup investigation. 20 witnesses are listed for next week.
Editor notes that Texas fiddling differs from other regions. Barton Riley, a top western and country player, explains the distinction. On July 21 the people of Childress and nearby area will hear fine musicians, many from Texas, showcasing regional fiddle traditions.
The Texas Court of Criminal Appeals upheld former Amarillo representative Walter Knapp's 4 year sentence for theft by false pretext. Knapp used $1,200 in postage stamps from his House expense account to buy a used pickup, with a 3-2 majority ruling.
Ben Purcell takes over as Chief of Personnel for the Kansas City District Corps of Engineers, replacing retiring Leslie Whitney who leaves June 29 after 37 years in government service. Purcell arrives from Panama where he served as Deputy Civilian Personnel Officer for the U S Army Southern Command, bringing 12 years in Army personnel management. His family plans to move to Kansas City after July 4 as Purcell aims to maintain Whitney’s strong program and focus on obtaining training and retention for Corps personnel.
The USDA feed price index rose 14 percent in the year to June 15, signaling higher production costs for farmers. Meanwhile, the farm price received index climbed 6 percent and was 38 percent above June 15, 1972. With price freezes in place, producers say costs are at their peak and seek quick adjustments to ease impact.
Funeral services for Jessie William McLain 74 a retired Fort Worth and Denver carman will be held at 2 p.m. Wednesday at Newberry Funeral Chapel with Rev. Joe S. Allen. Burial follows in Childress Cemetery. He died Monday at his home after several weeks illness. He was born January 24 1899 in Marshall Texas and moved to Childress in 1942. He married Aldine Polston in 1924 in Childress. Survivors include wife four daughters two sons a brother five sisters and 10 grandchildren.
City Police investigated a burglary at the swimming pool office where over $300 in cash plus ice cream, candy and gum were stolen. Four suspects initially agreed to take polygraph tests but backed down on advice from Wayland Wright, assistant chief, who also urged merchants with outside vending machines to remove cash at night. Two vending machines at Havins Gulf and Bennett's Conoco were robbed using a key or keys.
Lung cancer claims WWII pin up Betty Grable in Santa Monica hospital. The actress, famous for the white bathing suit pose, had recent hospitalizations and prior tours that paused her stage work in 1972.
The Cutest Kid Contest sponsored by the Licensed Vocational Nurses Association in Childress closes July 14 with judge Dick Palmer of Channel 10 Amarillo. Winners revealed 7 p.m. Friday July 20 at Fair Park Outdoor Theater. A $2 entry fee per child with photo to The Index funds LVNA Scholarship. Photos returned by LVNA members.
J W Chadwick was taken from his mother in law's home by his brother in law Jack Hill and two children. Chadwick said Hill released him in Arkansas and he will not charge kidnapping. Hill is charged with assault with intent to murder after shooting his estranged wife. The woman survived and Hill and the children remained at large. Hill had been living in Tennessee.
June rainfall totaled 3.08 inches with most occurring on the second day. The six month total reached 13.87 inches at the FAA station, well above the yearly average of about 21 inches for the county.
Volunteers are requested to help clean the grounds and haul away debris at the Child Day Care Center located at 800 Ave. C. NE starting at 9 a.m. Thursday. A spokesman said all help will be appreciated.
Mrs. Christy Fitzgerald of Silverton pleaded not guilty to driving under the influence of drugs in County Court on Monday. Her bond was set at $1,000. She was arrested by the Department of Public Safety.
Oliver Lewis Youmans of Denver was fined 147 dollars including court costs in County Court on Monday after pleading guilty to driving while intoxicated. He was arrested by the Department of Public Safety.
Richard Lawhorn of the Vernon Social Security office will be at the Childress Courthouse at 10 a.m. on Monday July 9 to accept social security applications.
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