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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 13, 1967
Page
6
Security quotations reflect market price movements with no retail markup or markdown included. The note references Chatham Co coaster plain life insurance Colonial Life and Accident Colonial Stores Commonwealth Life and a 4 percent preferred stock quoted by Colonial Stores.
A concise editorial line proclaims education as the strongest instrument for national improvement. It emphasizes learning as a foundation for progress, civic strength, and lasting societal benefits.
Congress weighs President Johnsons 10 percent surtax on individuals and corporations with leaders predicting slow action. Dirksen warns enactment is likely unless spending cuts occur. Administration hints at a state of emergency if opposition rises, while bankers see mixed economic impact and mutual fund hearings fade from front pages.
Shamrock Van Lines plans a August 23 dedication for its Dallas terminal on E Springfield Road between Baker and Brentwood. The 44 door island terminal includes air conditioned offices a maintenance shop and an automatic equipment wash unit as part of a modernization program to expand furniture transportation nationwide. The furniture division serves 34 states along the Eastern Seaboard Midwest and Southwest with offices in Dallas Burlington.
AP reports early signs of a climb from economic doldrums with July employment at a record high and June construction and retail activity hitting multi month peaks. Henry Fowler sees recession risk fading and forecasts expansion, while Chase Manhattan Bank cites inventory and spending improvements fueling model adjustment. Labor data show 76.2 million with unemployment at 3.9 percent, July jobs up 1.6 million year over year.
Kroehle Mfg Co reports 24 weeks ended June 18 sales of 46.79 million, down from 50.52 million a year earlier. Consolidated after tax income for the period is 679,200 dollars, 53 cents a share, versus 889,086 dollars or 69 cents in 1966. Twelve weeks sales total 22.82 million, vs 26.65 million in 1966, with net income after taxes 306,425 dollars, down from 491,732. The wood furniture division drives the decline in profit. Robert Duard Reavis is named color stylist for the Heritage Division at Drexel Enterprises, filling duties formerly held there since 1947.
The American Banker profiles First Union National Bank of North Carolina and its president C C Cameron. Staff writer Robert Bennett spent two days interviewing top officials and division heads, detailing the bank’s leadership and operations. The publication covers news from 13 000 banks nationwide, including savings institutions.
The government of Madras ends a food shortage ban that barred restaurants from serving cereal dishes on Monday and Thursday evenings. With the restriction lifted, bachelors and others who eat out may dine normally those two nights.
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