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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Aug 25, 1972
Page
18
Frances Gore tackles a delicate data alignment task on Honeywell's Series 20M computer system. She ensures pins and chassis align correctly, guarding against misconfigurations and ensuring system integrity.
Kaiser Aluminum confirmed a preliminary contract with the Soviet Union to purchase rights to their casting aluminum process. The deal, still subject to contingencies and further text, does not involve purchasing technical information or licenses for reduced-cost manufacture.
Ford Motor Co said it would recall about 2,000 of its 1972 lightweight model trucks to replace front wheel bearings, with roughly half already sold to consumers. South Jersey Industries plans a $30 million natural gas plant capable of producing at least 125 million cubic feet daily. Tasty Baking Co deferred a $9 million cane sugar refinery project in Portsmouth Va due to price levels not meeting investment goals. Union Carbide Canada's expansion aims at polyethene film production up 30 percent with a $1.4 million investment. Borg-Warner reorganized its three European air conditioning and refrigeration firms into a single unit to serve the Common Market. Monsanto completed an offshore Gulf of Mexico gas well with open flow potential of 42 million cubic feet per day.
Wall Street analysts warn that selectivity remains crucial in a volatile market. Earnings stability and gradual growth are prized, with dividends shaping support during downturns. Some firms note distribution gains fading and the Dow showing tentative upward momentum as investors await clearer economic signs.
A Teamsters Local 265 official says he asked Yellow Cab Co to set a price so a cooperative of drivers could buy the company. He warns members will lose their cabs to individual operators as permits rise. Yellow Cab recently sold three permits to individuals.
Quotations provided through Dean Witter & Co Hayward list OTC prices and market quotes. The notice cites the firm’s address 1070 A Street and references standard over the counter securities figures for investors.
Crown Zellerbach Corp. directors have declared a quarterly dividend of 60 cents per share of common stock. It will be payable Oct. 2 to holders of record at the close of business on Sept. 11.
West and Gulf oil firms report negotiations with Saudi Arabia Qatar Kuwait Iraq and Abu Dhabi nearing a framework for compensation sharing. Details remain deadlocked over how to value oil still in the ground and future growth losses, with talks continuing into next week.
Critics voiced displeasure at a Penn Central gathering as proxy counts dragged. Archibald Johnson presided amid boos and interruptions with proceedings extended beyond one day. Officials had not finished tallying proxies by 4 pm about a proposed refinancing of a $4 million loan linked to the bankrupt railroad.
Jay Thalheim heads Thalheim Exposition Management Corp and produces nontrade association trade shows about five times yearly. He groups products into two package deals built from extensive research, relying on direct mail, ads, and personal contact to reach a wide range of suppliers and buyers.
In Los Angeles the United Financial Corp of California signs a merger with Citizens Savings and Loan Association of San Francisco. The plan would create a California based savings and loan with assets above 1 billion and 19 offices in the Bay Area and Southern California. The Los Angeles holding company would own the merged entity to be named Citizens United Savings and Loan Association with headquarters in San Francisco. Regulatory and stockholder approvals are required and officials aim to complete by year end.
The Nixon era dividend controls spur a surge in stock splits this year as companies raise share counts to lower price per share. Investors like John Jones could see similar investment value, with splits often boosting share price and acting like an extra dividend. Merle Wick of NYSE notes about 74 to 76 splits this year versus 66 last year, with NYSE and Amex records cited for 1971 era levels.
Vietnamese sources say South Vietnam President’s wife Mme Thieu arrives in Paris with her daughter for a private visit. They are seen on the Champs Elysees with Mme Pham Dang Lam. The party plans a Lourdes pilgrimage as part of their Paris trip.
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