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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 04, 1971
Page
3
The Dow industrial average closed at 903.04 on Friday, down 0.44 from the prior week, while the 60 stock average finished at 315.3 with a fractional gain of 2.3. Analysts attribute the quiet mood to investors awaiting first quarter earnings and key economic news.
Prices of representative over the counter securities at roughly 3 p.m. Thursday shown by the Associated Press based on NASD quotations. Markets vary during the day and times do not reflect retail markups or mark downs.
A survey by the Dartnell Institute of Business Research finds most firms kept training programs stable amid the economic slowdown. Among typical companies polled, 16.3 percent increased training, 13.1 percent cut back, and the rest maintained. Outside industry meetings saw a 47 percent drop in participation.
Everett M Christensen a personnel consultant to the Dartnell Institute of Business Research cautions that applicants scoring far above a set minimum IQ may underperform. He argues high scorers may lack challenge and fail to meet job demands, risking poor long term performance.
North American Newspaper Alliance reports bankers hold large cash reserves as Fed pumps liquidity but consumer demand remains weak. Arthur Burns notes banks are bulging yet few customers borrow. economy trudges with layoffs, slow auto gains, and cautious households delaying spending on clothing, shelter, and essentials amid rising prices. Confidence builds slowly as business and shoppers await clearer signals.
A 1970 survey links Carolina firms such as Amos Hosiery Mills and Life of Carolina to insurance in force increasing from 141 million to 170 million, a 20 percent rise, while premium income grew 23 percent to 2,789,084. Richmond district banks show loans, deposits, and securities shifts with 28 leading banks over the period.
W. BE. Jack Shealy appointed director of line haul operations at Old Dominion Freight Line. He will set up and run the eet Shealy joins Mary Young of Columbia SC and their two children. Family to move to High Point from Lexington DC in June.
North Carolina National Bank in Charlotte promotes George W Campbell to vice president and director in the mid-south division. He will oversee corporate and correspondent banking across North Carolina Virginia West Virginia and east Tennessee.
Tomlinson Furniture announces a new sales representative for the New York metropolitan area. The appointee previously served at Bloomingdale's as senior assistant buyer of upholstered furniture and at Rich's of Atlanta as an assistant furniture buyer.
Redding served as a commercial loan officer in Charlotte for about two years before transferring to Raleigh in 1969. He later held a similar post in High Point for five years before moving back to Charlotte.
United States Savings Bond sales in North Carolina rose in February to 6,509,168 dollars, a bit over 12 percent higher than a year earlier. Combined Series EE and HH sales for February reached 6,600,668 dollars, up 6.6 percent from last year. January February sales totaled 13,140,671 dollars, the largest for any comparable period since 1945 and 11.3 percent above 1970. The state’s 1971 dollar goal is 63,600,000 dollars, with February sales accounting for 20.7 percent of the goal. Guilford County February sales were 556,850 dollars, and January February sales totaled 1,174,280 dollars, or 19.7 percent of the county goal of 5,941,512 dollars.
A War Chartered Life Underwriters meeting will begin at 6:30 p.m. at the Jefferson Standard Country Club in Greensboro. The event invites members to attend the gathering at the Greensboro venue.
In Winston-Salem, agency executive Reaves opens Cliff Reaves and Associates, after five years with Porter-Ward Advertising. Linda Craggs, formerly production manager and media director at Porter-Ward for three years, joins the new firm.
William O Sweeny, chief of Arwood Corporation, will assume the presidency. Sweeny has led Arwood for eight years and is widely respected for his leadership and long service with the company.
The fragment notes a May issue of the National Press and a Prize winner tied to postage estimates. Named individuals and organizations are unclear but the reference points to a press recognition event in Washington.
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