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Decatur Daily in Decatur, Alabama

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Newspaper

Decatur Daily

Location

Decatur, Alabama, United States of America

Date

Jan 14, 1973

Page

14

Dramatic Developments Top Financial Week

A volatile week in New York markets followed President Nixons move to a voluntary phase of controls. Stocks surged then slid as the Dow touched a new high before closing lower, while the Fed raised the discount rate to 5 percent.

Thomas E. Mullaney New York Times News Service New York Nixon Washington

Bond Market Wrap Shows Mixed Week Amid Policy Easing

Salomon Brothers reports a week of easing wage and price controls led to a varied bond performance. Corporate and government bonds fell, municipal bonds gained fractionally, and all corporate sectors lost ground for the first time since 1972. Yields rose on new utilities, with investor caution prevailing.

New York Salomon Brothers

Market Slips As Dow Dips After Wage-Price Pause

The Dow Jones average closed at 1039.36, down 8.13 from the prior week and 12.30 from Thursday's high. The Associated Press stock index fell 3.7 points to 342.3 as analysts link Friday's decline to second thoughts about Nixon's wage-price controls ending and potential inflation risks.

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Bond Market Slips Pocketed Gains Amid Modest January Volume

Bond prices fell again as calendar activity shows a moderate $198 million for the week and a January total of about $1.1 billion. Long term government issues dropped up to 5 points, while three month Treasuries rose to 5.23 percent. municipal yields held steady with slight gains on longer maturities.

Treasury Department

Weekly stock and bond closing averages report

The week's Dow Jones indices show declines across major groups with the Industrials and Utilities posting lower closes. Bond averages edged mixed, with rail and industrials reflecting slight gains and losses in scattered sectors.

England Faces Shortage of Master Thatchers

About 50,000 thatched cottages exist in England with only 500 master thatchers. The skilled craftsmen have more work than they can handle.

England

Also Mentioned on This Page

Federal Reserve Federal Reserve Board American Telephone A.t.&t Federal National Mortgage AMF, Inc New York Stock Exchange American Exchange DOW Jones iWon Thor NYS Ween Stamos Es Comecerenbeering Dow-Jones RRS Incrails
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