Market Dips as Fed Tightens Credit Signals Rise in Rates
The stock market slips into a broad decline as signals point to tighter credit from the Federal Reserve. The Dow Jones average fell 2.52 to 889.29 at noon with more losers than winners on the NYSE and volume easing below Monday’s levels. Bethlehem Steel led active lists with a 6% drop despite a large block at 22%.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Bethlehem Steel
Arco Juneau
Valdez
Alaska
Cherry Point
Wash
Over The Counter Stock Averages Report
A brisk financial brief shows A P stock averages with no change to noon levels. The report lists daily, weekly and monthly figures for several indexes including bond averages and currency indicators, with highs and lows for selected periods and a mixed momentum snapshot.
National Stock Prices From American Exchange Noon Snapshot
Noon prices for American Stock Exchange issues show varied bids and asks across many securities. Notable entries include DynAm, Texstr, and Wabash with modest gains and losses, reflecting a mixed trading day as of noon.
MENTIONED IN THIS ARTICLE
Petro Carnat
Kaisini
Kewanee
McCulo
Mitchié
Ozarka
Pertec
Ley
Risdon
Warnc Pft
Associated Press
National Association of Securities Dessers
Aerotroninc American Furniture
Gti Bankers Trust
SC Bancshares
Retail Commission
New York Stock Exchange Price Snapshot Amid Mixed Readings
Readout shows numerous stocks with varied last prices and percentage changes, including Aluminum interests, Airco products, ArchrD, Armco, Asarco, AtlasCp, Avon, BankAm, Boeing, and more. Notable entries include AlcanAt near 1.40, Armco around 1.80, and Avnet at 3% changes.
MENTIONED IN THIS ARTICLE
NEW York
Secsssas
New Stock Exchange Syssues
Asone
Airco
M&m
Archrd
Armco
ArmstCkh
Asarco
Ie IM
AsniOl
Ascdg
Aurich
Ea AtlasCp
Avon
BankAm
Bauschi
Beker » 7 Oe Oh Gelltow
Bendix
BlackOr
Boeing
Borgw
Branitt
Broswk
BucyEr
BuddCo
Burling
High Point Enterprise Advertisement Rates and Notices
The High Point Enterprise outlines subscription and mailing rates for daily and Sunday editions, including mail and carrier options. It notes Associated Press rights and post office classification, with disclaimers about carrier contractors and payment responsibilities.
MENTIONED IN THIS ARTICLE
High Point Enterprise Establishee
Kanewe
High Ae Enterprise
Church Avenue
High Point
N.C
Associated Press
AP News
Point
High Point Enterprise, Inc
London Associates
National Advertising
New York Stock Exchange Noon Index Update
The noon index report shows a slight decline across sectors with a 13 cent drop to 5404 in the industrial and transportation group and a 14 point drop to 5684 in finance while utilities stand at 472.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Buckner Freed After 37 Years Under California Reform
Louis Buckner, 70, relaxed in a Woodland rest home after 37 years of a life sentence for a $12.74 shoplifting conviction. He is among about 1,100 to 1,300 inmates slated for release this year under California’s term reform.
MENTIONED IN THIS ARTICLE
Louis Buckner
Woodland
Calif
Buckner
California
Alfred Lunt in Critical Condition After Surgery
Alfred Lunt, 84, a leading American stage actor, is listed in critical condition after bladder cancer surgery at Northwestern Memorial Hospital. He was admitted July 20 and underwent operation on July 21, according to a hospital spokesman.
MENTIONED IN THIS ARTICLE
Chicago
Alfred Lunt
Northwestern Memorial Hospital
North Carolina Vet School funding stalls in Raleigh
RALEIGH AP The expected decision to build a veterinary medicine school at North Carolina State University is clouded. The legislature allocated 3 million dollars for two years to begin construction but officials say this is insufficient. They warn that without an additional 7 million in the May 1978 session, the initial construction phase cannot start.
MENTIONED IN THIS ARTICLE
Raleigh
General Assembly
North Carolina State University
Tobacco Prices Rise Slightly Across Carolina Markets
On Monday prices edged up on most Carolina flue cured tobacco markets with South Carolina and border North Carolina stalls holding steady to higher. Gains since last Thursday mostly $1 to $4 per hundred, some grades $1 to $2 lower. Quality higher and lug percentage up. Last week sales hit 15 576 756 pounds at 91.47 per hundred up 4.44 from opening week.
MENTIONED IN THIS ARTICLE
Raleigh
Carolina
South Carolina
North Carolina
Governor orders probe into closing of Carolina Boys Camp
Gov. Jim Hunt launches an investigation into the shutdown of the Carolina Boys Camp near Candor Moore County. The camp now holds 22 troubled youths and faces a three to six month gap before Eckerd Wilderness Systems of Clearwater takes over.
MENTIONED IN THIS ARTICLE
Fayetteville
N.C
Jim Hunt
Carolina Boys Camp
Candor
Moore County
The
Learning Institute of North Carolina
LINC
Southern Bell Officials Indicted by Grand Jury
A Mecklenburg County grand jury indicted Southern Bell Telephone Co. president L E Rast and North Carolina head John J. Ryan on 25 counts of conspiracy and fraud for falsifying books and vouchers between October 1971 and July 1974. Ryan faces 16 embezzlement counts. the company and three vice presidents are also named.
MENTIONED IN THIS ARTICLE
Charlotte
Southern Bell Telephone Co
North Carolina
Mecklenburg County
L.E. Rast
Atlanta
John J. Ryan
Ryan
Robert Joe Clontz
Nathaniel Reeves Johnson
James
William Travis
Rast
Bell Asked To Document Union Payoff To Nixon
Atty. Gen. Griffin Bell faces calls to verify Time magazine claims that former President Nixon received a Teamsters payoff to block Hoffa from returning to union office. Frank Fitzsimmons denied any such deal and said no funds were paid. Nixon has not commented on the report.
MENTIONED IN THIS ARTICLE
Washington
Griffin Bell
Richard M. Nixon
Teamsters
Jimmy Hoffa
Frank E. Fitzsimmons
Time Magazine
Bell
Fitzsimmons
Nixon
Hoffa
Justice Department
Water shortages press NC towns as Raleigh drought aid fades
Experts warn urban centers anticipate higher supply stress than rural areas. Falls of the Neuse reservoir completion is urged within five to six years to avert county wide water shortages, with wells supplying about 64 percent of NC demand while Sparta fights a dwindling supply due to a leaking valve.
MENTIONED IN THIS ARTICLE
Wray
Durham
Lake Michie
Raleigh
Wake County
Neuse
Peek
Mountain
Piedmont
Allegany County
Sparta
Barry Irwin
Irwin
Perseid Meteor Shower Expected to Shine Itself Bright
The Perseid meteor shower is set to peak with no moon to dim the lights and forecasts call for a strong display. Franklin notes the debris trails from comet Temple Swift meet Earth’s orbit, producing annual showers. Harvard researchers caution about UFO rumors but praise the spectacle and suggest watching from dark, open areas like Yosemite.
MENTIONED IN THIS ARTICLE
Franklin
Temple-Swift
Stew Odenwald
Harvard College Observatory
Massachusetts
Odenwald
Yosemite National Park
Perseid
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A.P. Stock
Rails
Ind. Util. Fgn
NEW York —Exchange
Dow-Jones
Lunt
Southern Bell
Harry Peek
State Dept. of Earth Resources
Frank Fey
Carmi
Chief of Naval Operations
James L. Holloway
ITI