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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 04, 1957
Page
5
The piece notes improving employment and retail optimism for fall with hosiery and furniture sectors rebounding. Auto dealers report rising interest and buyers committing to payments, while back to school expectations lift downtown merchants. It also mentions personnel moves, renovations, and industry shifts across furniture and upholstery firms.
The article reports cautious business sentiment as monetary policy stays tight. It notes federal road funding of nearly three billion dollars, potential FHA mortgage rate changes, and planned congressional hearings on federal spending. Inventory buildup could blunt the upcoming recovery, with banks warning against relying on a windfall. Mount Vesuvius is Europe's active volcano.
Cotton manufacturers in Charlotte and across the Carolinas face a cost price squeeze as the crop year begins. Estimates point to a sharply reduced cotton crop and higher prices for cotton and yarns while price supports are awaited from Washington. Mills report backlogs and reluctance to buy until prices clarify, with demand for higher grade cotton rising as stocks dwindle.
New York August 3 stock values slipped this week as daily turnover averaged 1,754,536 shares. The market was waiting for a decisive move with a vacation mood prevailing on Wall Street. Moderate offerings and slight buying interest occasionally cut prices. A proverbial saying about trees and lightning echoes the lack of momentum as traders waited for direction.
A new Electri-Living home designed by Edward Loewnstein will rise on Downing Street in Greensboro this summer under a Duke Power Company and Living for Young Homemakers collaboration. The three bedroom two bath house features heat pump automation, low voltage electrical system, and structural lighting. Cost targets set at 18000 dollars excluding land, with the project to be featured in Living magazine issues in fall 1957 and winter 1958.
The Union Terminal in Washington, D. C., was built in 1907 at a cost of 11.5 million dollars and serves seven railroad lines.
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