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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 08, 1967
Page
2
The New York stock market held a generally higher tone in early afternoon trading. The Dow Jones average rose 3.23 to 923.60 as investor confidence remained firm amid favorable news background.
New York AP stock roundup lists gains and losses across major groups. Notable movements include Getty Oil, Goodyear, Textron, and Merck amid fluctuating prices and volumes.
New York AP report notes cotton futures opened without actual trades and shows scattered price quotes around the 22.5 to 22.8 range with minor variations among listed items. The snippet includes stray terms and misprinted labels suggesting a muted start to trading.
The paper reports a new combat loss tally in North Vietnam with an F4C Phantom brought down by ground fire in the Panhandle and three more helicopters damaged near Saigon. Brig. Gen. John F. Freund was wounded while guiding a rescue mission and received the Purple Heart from Gen. Westmoreland as ground troops conducted a later rescue operation amid increased guerrilla attacks ahead of the Sept. 3 election.
Quotations from the NASD show representative inter-dealer prices as of about 10:30 a.m. today with markets evolving through the day. The figures exclude retail markups, markdowns, and commissions, listing several company securities and life company quotes with percentage marks.
Market wires will close at 2 p m for the rest of the week as heavy trading volume and paperwork slow operations. The Powell Kistler brokerage office says the wires will observe a 90 minute daily holiday while New York and American stock exchanges attempt to catch up. Brokerage offices nationwide will keep normal hours.
The Commercial and Industrial Bank of Fayetteville and North Carolina National Bank announce a planned merger. Board approvals and regulatory and shareholder consents are required. C and I is Cumberland County’s third largest with over 15 million in assets. NCNB totals 963 million with 75 offices in 15 NC cities.
Two federal commissions report major gaps in job and education opportunities for Negroes and Spanish-Americans compared with whites. They urge civil rights laws and action for damages in school enrollment offences, noting slow desegregation 1954 65 progress in 17 Southern and border states.
The noon NYSE index results show mixed movement with minor declines in several sectors. Transportation and Finance listings reflect small changes, while overall market tone remains cautious as traders digest recent data.
Forecast covers NORTH CAROLINA SOUTH CAROLINA and GEORGIA with variable cloudiness warm nights and days. Expect scattered afternoon and evening thundershowers near mountains and mild nights with highs around 80 to 95 and coastal lows around 60 to 70.
The Labor Department reports July unemployment at 3.25 million with a 3.9 percent jobless rate, a July high in total employment at 76.2 million. Nonfarm payrolls rose 200,000, while youth employment and labor force activity show gains. adult women’s unemployment remains largely unchanged.
Two large explosions and 13 smaller blasts rocked the Cities Service Co. refinery in downtown Lake Charles Louisiana injuring 14 workers and causing extensive property damage. Four men were reported missing as heavy plate glass storefronts shattered and a fierce fire broke out at 4 45 a m.
Washington AP report describes Pride Inc led by Rufus Mayfield mobilizing 850 youths aged 14 to 18 to clear trash and hazards in 10 of the city’s poorest areas. The program, funded by $300,000 and supported by civic leaders including Marion Barry, aims to extend year round if successful.
Detroit faces fracture as Milton Henry Richard Henry Edward Vaughn Reverend Albert Cleague and Grace Lee Boggs emerge as core figures of a volatile black power circle. The group backs insurrectionist demands while white officials and local leaders struggle to respond, fueling distrust among Detroit's Negro leadership.
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