Stock market sinks as 1966 banks raise rates
American Exchange reports a continued market slide with a higher prime rate at 6 percent after yesterday's close. Major banks boosted the prime rate to 6 percent, the Dow Jones industrial average falls to 820.54, and GM hits a new low before recovering slightly. Xerox and Polaroid drop, IBM and GE also slide amid Viet Nam and rate concerns.
MENTIONED IN THIS ARTICLE
New York
Viet Nam
General Motors
Associated Press
Dow Jones
Xerox
Polaroid
Goodyear
Ith
General Electric
International Business Machines
Stock Exchange Noon Prices and Dividend Footnotes
A New York Exchange listing provides noon prices for selected stocks with notes on annual dividends and various special payments. Footnotes explain symbols for extras, liquidating dividends, stock dividends, ex-dividend dates, and other actions through 1966 plus references to tax and foreign issue considerations.
MENTIONED IN THIS ARTICLE
New York
A Stock Exchange
Cotton New York Opens With No Trades Reported
In New York the cotton futures market opened with no actual trades reported, leaving early activity essentially quiet and unrated as traders awaited clearer price signals.
MENTIONED IN THIS ARTICLE
New York
Bow-Joned y Averagesy 30 Industrials
Industry indices show mixed trading with rail stocks and utilities contributing to a muted session. The data lists rails, industrials and bonds with slight down moves, alongside lower grade rail categories and utilities performance.
Banks raise prime rates as demand for loans surges
Banks push prime to 6 or higher as a booming economy outpaces loan funds. They borrow from each other at short terms and draw customers with high deposits to fund lending. Despite higher borrowing costs, firms expect profits to rise. consumers face steeper long term mortgage costs.
MENTIONED IN THIS ARTICLE
Sam Dawson
AP Business News
NEW York
Federal Reserve Bank
Fed
Hunted Man Is Captured In Glasgow
John Duddy a 37 year old tattooed Scotsman sought for the killings of three London detectives was caught in a Glasgow police raid. Only one suspect Harry Maurice Roberts remains at large. The slain officers, part of an undercover crime squad, were shot outside Wormwood Scrubs Prison last Friday. Scotland Yard warned the public to help but said shoot on sight may occur. John Edward Witney 36 is in custody following the shootings. Duddy offered no resistance in the Glasgow arrest.
MENTIONED IN THIS ARTICLE
Vasco
Aerojet Ee
ArkLaGas
CrowCol
Soc
Asomera
Crown Cork
NatDelry
Crown Zell
Atlas Co
Crue
Braz
Curtis
Brit Pet
Chile
Nat Steel
Delta Air
Doug Airc
Norwich
Duke Pw
Mackey Air
McCrory
Mead John
Owensin
RIC
Besite
Sanat al
ElBonSd
Lwe ErieLack
Associated Press
Fair Hill
Va Phil Rdig
PirPiate
New York
Fia
FMC Cp Ma
York Stock Exchange
FoodFair
Val Procter
Pullman
Proahee
Abbott Lab
RCA
RepubStee
Reviow
AicanAly
Rexall
Reyn
GenMills
GenMet
Rheemm
Allied C
GenPrec
Roan Sel
AlliedStr
Oest Rohr Corp NW
An AllisChal
Pubut
Roy Ccola
Alcoa
Roy
Gen Tire
RyderSys
Ga Pacific Ib
Bosch
GerberPd
Gateway St
Getty Ol
SL SanFran
AmCrySug
AmCyan
Goodrich
Ameipw
Goodye
Schenley
Enka
Grecece
Schering
Scott For
Guifmo
Gulf
T&t
AmZine
Halliburt
Sinclair
AMP Inc
Singer Co
Ampex
Harris Int
WY Smithk
Herc Inc
Soucale
Mertz
Ve South Co
HewPack
Soungas
Vweisperry Rand
Homestic
Square
Atchison
Honeywi
Aticline 3A
Ss” Sav
Ecmiedl StanWar
Ua Um
Se StauffCh
Babcokw
A idahoPw
SternDrug
Beaunit
Ideal Cem
Swift Co
InsurNoAm
interikSt
Tampa el
Bigelow S
Alintpusm
Teledyne Inc
Boeing
Tenneco
BoiseCase
intMiner
Texaco
Brunsw
Iowapsv
Bullard
Bulova
JonnMan
Sburlind
Transwair
Jon Logan Jones
Calif Pack
Yel Kaiser al
Kayser Ro
UMC Ind
Kennecott
KerrMc
Unocal
KimbClark
UnitAirc
Kroger
UnitCorp Adeo
Uga
US Borax
Liggett&m
Ussmell
Lockhola
US Steel
Chi
Loews Theat
Whelan
Jones Cem
Upjohn
Clev
Lorillard
CocaCola
Vanad
Yonge Co
CBS
VaEiPw
Mack Tr
Macyrh
Maydstr
Ve Whirl Cp
Maytag
McCall
McDonAir
McKess
Xerox Corp
Zenith Rad
Semana
London
John Duddy
Harry Maurice Roberts
Wormwood Scrubs
Scotland Yard
John Edward Witney
Roberts
Duddy
Glasgow
Scotland
Tar Heel Banks Raise North Carolina Prime Rate to 6
North Carolina's largest banks including North Carolina National Bank and Wachovia Bank raised their prime rate to 6 percent, the state legal maximum. The move follows a nationwide rise by major banks and affects commercial loan pricing for top borrowers, with expected ripple effects for other rates within the state. First Union National Bank plans to follow within days.
MENTIONED IN THIS ARTICLE
Charlotte
North Carolina
North Carolina National Banks
Wachovia Bank and Trust Co
First Union National Bank
Weather forecast for Wednesday expects scattered rain
Wednesday night rain possible in the Plains Plateaus and Mississippi valley with cooler conditions in the northeast and plains while the Lakes region and parts of the Mississippi valley may see warmer temperatures.
MENTIONED IN THIS ARTICLE
Plains
Plateaus
Mississippi Valley
Northeast
Lakes Region
Relief From Humid North Carolina Heat Tonight and Thursday
The Associated Press reports a cool front will move into extreme northern counties tonight and reach southern counties late tonight before stalling. Temperatures should drop only a few degrees, with scattered thundershowers mainly over eastern North Carolina tonight and Thursday. New Bern logged .33 inches of rain, Elizabeth City .25, with lighter amounts in Charlotte Wilmington and Durham. Highs Tuesday ranged 81 to 92 across the state. Overnight temps stayed warm, from the mountains in the 60s to other areas in the 70s.
MENTIONED IN THIS ARTICLE
Associated Press
North Carolina
New Bern
Elizabeth City
Charlotte
Wilmington
Durham
Asheville
Raleigh- Durham
Senate Reserve Callup Sparks Viet Nam Debate
Senators clash over a proposal to let President Johnson call up ready reservists for active duty in Vietnam. The plan would extend eligibility to 18 months for those with only training time, risking a two thirds vote to add it to an $58 billion defense bill. McNamara opposes citizen-soldier mobilization. Dirksen warns GOP divisions may hinder passage. Over 500,000 reservists could be affected, including 133,000 with minimal training.
MENTIONED IN THIS ARTICLE
Washington
Johnson
Viet Nam
Senate
Richard B. Russell
D-Ga
Leverett Saltonstall
R-Mass
Robert S. McNamara
White House
Russell-Saltonstall
Congress
Everett M. Dirksen
GOP
Russell
Saltonstall
Economic Unity Is Proposed
President Johnson called for economic integration of Latin America and a united effort to raise living standards as a "second stage booster" to the Alliance for Progress. He outlined priorities for the years ahead and suggested a hemisphere summit agenda without citing a specific meeting date.
MENTIONED IN THIS ARTICLE
Washington
Johnson
Latin America
Alliance For Progress
Hemisphere
ABC Enforcing Procedures Criticized
Raleigh AP report summarizes an Institute of Government study critical of the Alcohol Board of Control enforcement division under Director Lee P Phillips. The study, requested by ABC Director Ray Brady after his appointment by Gov. Dan Moore, faults organization and administration and calls for upgrading to keep pace with needs.
MENTIONED IN THIS ARTICLE
Raleigh
Alcohol Board of Control
Lee P. Philps
ABC
Ray Brady
Institute of Government
Brady
Dan Moore
Youth Program Coordinator Resigns Post
Warrenton North Carolina AP Charles Alvin Cheek has resigned as coordinator of a controversial three county federal youth program based in Warrenton His father Rev E G Cheek who directs the program said the resignation came Tuesday afternoon for the best interest of the program since he was at the center of a controversy The younger Cheek was paroled in 1963 after serving 12 years of two life sentences for first degree burglary and three concurrent 30 year terms for second degree burglary The resignation was submitted to S A Davis president of the Recreation Council of Memorial Recreation Forest the agency which administers the antipoverty program
MENTIONED IN THIS ARTICLE
Warrenton
N.C
Charles Alvin Cheek
E. G. Cheek
Cheek
S. A. Davis
Recreation Council of
Memorial Recreation Forest
Sunset and Sunrise Times for the Day
The sun will set today at 7 08 p m and rise tomorrow at 5 40 a m.
Machinists Weigh Historic Airlines Pact Vote
Washington AP reported strikers and leaders debate approving a three year contract that would grant a wage escalator and 56 cent raise plus benefits to roughly 19 000 line mechanics amid the 41 day stoppage. Congress considers back to work legislation as airlines warn planes could resume flying within hours if the deal passes.
MENTIONED IN THIS ARTICLE
Washington
Afl-Cio International Association of Machinsts
White House
Congress
United
Eastern
National
Northwest
Trans -World Airlines
Also Mentioned on This Page
American Exchange
New York Exchange
Seles
Ind
Rolle Utu
P / Close
Rails Ind
New York Stock Index
New York Stock Exchange Index
Industrial Transportation
Utility Etteee
Glasgow Police
Tar Heel
U.S. Weather Bureau
THE
R. Albany
Atlanta
Bismarck
Boise
Boston
Buffalo
Cage
Cincinnati
Cleveland
Denver
Des Moines
Detroit
Fairbanks
Fort Worth
Helena
Honolulu
Indianapolis
Jacksonville
Juneau
Kansas City
Los Angeles
Louisville
Memphis
Miami
Milwaukee
St.p
New Orleans
Okla. City
Omaha
Philadelphia
Phoenix
Pittsburgh
Ptind
Ore
Rapid City
Richmond
St. Louis
Salt Sk. City
San Fran
San Diego
Seattle
Tampa
Winnipeg
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!