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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 10, 1975
Page
3
In June, consumer credit rose by 545 million, lifting total borrowing to 186.1 billion. Analysts weigh whether increased use reflects confidence in recovery or fear of rising prices, with anticipated higher costs in September for autos and energy and rising farm prices.
AP WASHINGTON The Agriculture Department projects net farm income to fall to between 20 and 25 billion dollars in 1975, meaning many farm families may again rely more on town jobs than on the land. 1973 had a record 29.5 billion, revised down from 32.2. 1974 was 27.7, revised up from 27.2. Nonfarm earnings surpassed farm income in 1973 and 1974, the first time since 1966.
The Dow Jones Industrial Average finished at 817.74 on Friday, down 8.76 from last week, while the Associated Press index stood at 258.5, down 6.2. Brokers attribute the decline to persistent higher interest rates and renewed inflation signals.
Managua Nicaragua U S Ambassador Turner Shelton receives the Order of Ruben Dario the highest honor for foreigners in recognition of aid after the December 1972 Managua earthquake He will depart the post Sunday and be succeeded by James Theberge.
New York sources report President Ford’s overseas trip hinged on a strong dollar to curb inflation by lowering import prices and boosting foreign demand for U.S. exports. Money circles say Burns and Simon push a stronger dollar to attract overseas investment, risking jobs as Congress worries about rising unemployment in an election year.
G E Pete Schultheiss of Metropolitan Life attends The Advanced School of Employer Related Retirement Plans at the University of Connecticut Storrs. TexElastic sells its interest in Elastic Yarns to a Tennessee firm. Piedmont Natural Gas reports 12 month ended June 30 revenues of 79.31 million, net income 7.48 million, earnings per share 3.06. Eckerd Drugs reports first quarter ended June 28 sales 52.84 million and after tax income 1.49 million. The company opened two more drug stores and two apparel shops since the quarter end and leases for 16 more locations. Fifth District banks show weekly Fed survey: total loans 15.436 billion, up 44.8 million. interbank loans down. time deposits up 60.1 million. demand deposits down 173.5 million. investments up 24.1 million.
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