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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 12, 1959
Page
5
Local merchants diverge on Wednesday and Friday hours with no enforceable policy. Parking rules will be strictly enforced on Wednesdays until June 1, then treated as a holiday during June through August. Other items include personnel moves at Quality Bakers and Rogers Insurance, a Century Furniture expansion, and a disaster conference set for Greensboro.
New York stocks slipped as warnings against reckless speculation weighed on trading. The Dow Jones average fell to 222.40 and volume eased. Ford led activity with a return of its 60 cent dividend while big blue chips steadied. Regulators warned of market manipulation and pursued investigations.
Bids to open Tuesday for a new office and warehouse for Matt Wall and Son veneer firm. Four bidders for the general contract include R. K. Stewart and Son J. R Graham and Son E. E. Younts Inc and Julian B White. Architectural work to Voorhees and Everhart. Niles Pantelakis joins Hubert Rockwell Associates at 336% S. Wrenn St after studying design in France Italy and Grand Rapids and two years with Carsons.
Four Liberty Life Insurance Co. leasing producers plan a Nassau trip aboard the M. Italia from April 18 to 22. The travelers are B. N. Beasley W. H. Pumphrey T. C. Lewis and C. C. Smith Jr along with their wives.
Roger Morgan was elected to replace Neal Kearns as sales manager of Melrose Hosiery Mills Inc. He has 11 years in hosiery and eight years with Melrose, overseeing the southeast region including Florida to the District of Columbia. He is a former manufacturer's representative and Cadet Midshipman at the U S Maritime Academy. He attends Emmanuel Lutheran Church and the High Point American Business Club and resides with his wife and three children at 903 Circle Dr.
New York AP reports the corporate and U.S. Government bond markets declined last week with industrials off sharply while rails and foreign bonds edged ahead. Volume on the NYSE totaled 31.224 million, down from the prior week but up from 1958. Convertible activity mixed amid stock swings as Treasuries hovered above 4 percent yield.
Daniel R. Stills, 17, son of a division police chief, was fined 25 dollars in Municipal Court after rocks were thrown at Officer Edward E. Nelson while the officer wrote a ticket for an illegally parked car in Denver Colorado.
A brief note explains that unofficial quotations from NASD and other sources show rough ranges for securities as of April 9 1959. It clarifies these figures are not actual transactions and origin details are available upon request.
Textile leader Walter D. Vincent of Southern Textile Assn says reforms from a Senate subcommittee are unlikely to take effect. He notes tariffs are low vs other nations and that import quotas could be used in specific categories without harming existing textile capacity. He spoke at the Northern North Carolina Virginia Division meeting in Lexington.
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