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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Apr 26, 1970
Page
6
Inflation remained at 6 percent in March as the government reported higher consumer prices while wages rose little. Medical care and mortgage costs led gains, with mortgage rates for new conventional loans at 8.51 percent and used-home rates at 8.48 percent, signaling ongoing cost pressures for buyers.
The article advises choosing an investment adviser carefully amid growing professional management of funds. It highlights honesty, experience, and independence from sales pressure, plus steps to evaluate firms and staff. It notes market tensions with car demand, strikes, and major shifts in the stock market.
A respected money figure warns the economy may flatten through summer with slower improvement later, citing persistent inflation, wage gains, rising prices, and a potential deficit. Nixon may jaw bone on wages and prices as rates stay high, while 8 percent AT and T bond issue underscores tight money. Uninvested mutual fund money hits a record, shifting toward discounted bonds and solid-run companies.
National Springs Corp of High Point and Mississippi announced at the New York annual meeting the election of Earl N. Phillips Jr. as a director to fill a vacancy. Richard Reddeck and A C Denisio were named vice presidents with Reddeck also taking roles as assistant secretary and assistant treasurer. Denisio becomes vice president of manufacturing after four years with the firm and a background in No Sag Spring Co. and Redwood City operations.
Piedmont Natural Gas Co. posts first quarter net income of 2,733,532 up 12 percent from 1969 and operating revenues of 18,090,671 up 10 percent. Earnings per share rise to 1.52, and common balance grows to 2,567,191 with a 13 percent gain. The year shows continued growth in 12 months results with earnings per share at 1.92. Four officers receive promotions and a fifth is elected to officer rank. McDonald’s Corp also reports record first quarter earnings of 2,903,344 or 0.26 a share, up 37 percent from 1969.
Burlington Industries Inc. announces for the quarter ended March 28 net earnings of 19.101 million or 0.73 per share on 26.156 million shares. Net sales reach 457.768 million, up 2.7 percent from last year. For the six months, sales total 907.088 million and earnings 37.651 million or 1.44 per share, versus 883.933 million and 40.555 million or 1.56 per share a year earlier.
DeWitt Carroll was named Raleigh office manager of John Harden Association succeeding Bryant Haislip whose resignation is effective May 1. A UNC journalism graduate, Carroll has served as city editor for The Raleigh Times and assistant city editor for The Greensboro Daily News and The Greensboro Record. He spent 11 years as a Business Week correspondent and led Piedmont Associated Industries as executive secretary from 1952 to 1960 directing a public program.
Home Secretary James Callaghan orders swift measures to stop systematic thefts from parish churches. Communion cups wine flagons silver crosses and candlesticks are stolen as guards lament a rise in sacrilege amid Britain’s 12 000 churches custodians of about 20 million pounds in valuables.
Luther H. Hodges Jr. and Hugh L. McColl Jr. rise to executive vice presidents at NCNB with expanded duties. Hodges oversees 94 offices in 28 North Carolina communities, while McColl directs all U S and international banking operations including national accounts and correspondent banking.
James E. Mack president of B and C Associates Inc will attend the American Association of Minority Consultants national convention in Detroit Michigan May 3 5. Mack serves on the board of directors of the national group and the event titled The Black and White Thing includes seminars to bridge racial communication gaps in business industry commerce and urban affairs.
Life of Carolina says gross premium income grew 23.9 percent in the first quarter. Total assets reached 3.5 million for the period ending March 31, up from 3.25 million a year earlier for a 5.6 percent gain. Insurance in force rose 7 percent to exceed 145 million.
Career guide explains merchandising before selling, pricing policies, stock management, and profit margins. Ideal Personnel has placed workers since 1954 and invites inquiries at 115 Arcade Building, phone 885-5176, open daily 9 to 5 or by appointment.
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