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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 19, 1971
Page
2
The Dow Jones average dipped 2.85 to 883.32 as declines edged gains 7 to 4 on the NYSE. Traders noted reduced losses from earlier, with investors on the sidelines evaluating President Nixon's economic proposals amid slower activity. Steels and motors fell while mail order retail utilities and airlines rose. rails metals and chemicals mixed.
Unofficial exchange rate figures and dividend statements are explained. Footnotes define symbols for extra dividends stock dividends liquidations and other special payments with letters a through n and various terms for ex dividend rights and warrants.
NASD quotations at about 11 a.m. show representative inter-dealer prices. Markets evolve through the day and quotations exclude retail markups markdowns and commissions.
Senate figures like Prov ise and Muskie blasted Nixon’s package as bad economics and poor social planning while Treasury officials argued recovery is underway. Labor leaders demanded a pause on strikes and a Justice Department team was formed to pursue freeze violation prosecutions, with penalties up to 5000 dollars.
A garbled AP bulletin from New York reports at noon the stock index for the market sector, mentioning the Dow Jones Industrial Average and finance, but the details are unclear and partially unreadable.
Do not use chlorine bleach on fabrics with a durable press finish. Chlorine bleach damages the finish and may reduce fabric life.
Henry A. Mitchell Jr. becomes associate general counsel for Carolina Power & Light Co. in Raleigh after a legal career in Archdale Guilford College Wake Forest University law degree. He clerked for Edwin M. Stanley and practiced at Smith Leach Anderson Dorsett from 1963 to 1970 before serving as deputy general counsel of the Export Import Bank in Washington.
Henry Waddington of 1121 Forrest Hill Dr High Point is cited as a graduate of Paul Revere Life Insurance intermediates training. He earned The Minute Man Award for his sales record in the first three months with the Greensboro Sales and Service Agency.
Pilot Fire and Casualty and Pilot Title Insurance, previously subsidiaries of Pilot Life, become subsidiaries of Jefferson-Pilot Corp a parent company that already includes Pilot Life as a subsidiary.
United Auto Workers and West Coast longshoremen threaten contract cancellations for about 600,000 auto workers and 15,000 dock workers, denouncing the plan as labor leaders unite against wage controls. AFL-CIO figures warn of losses and statutory overreach, while other unions demand raises already in contracts.
Nixon froze wages prices and rents for 90 days and set up a Cost of Living Council. He named the small Office of Emergency Preparedness to monitor compliance. Gen George A Lincoln leads the OEP with a 402 member staff handling inquiries and enforcement efforts.
FDA says only trace levels of PCBs found in eggs with no health hazard. 6,900 dozen eggs seized and 45,600 pounds of catfish feed halted while a Wilmington NC cooling system leak is traced. Ralph Nader urges stricter limits and precautionary action.
North Carolina embargoes fresh eggs from a dozen farms after inspectors find PCB contamination in flocks. The U S Department of Agriculture detains over 53 000 pounds of processed eggs in NC and SC with samples showing PCB residues well above the 0 5 ppm limit. Sam Hutchinson of Chick Haven Eggs says the affected eggs may come from an outside supplier.
Harry B. Tour longtime TVA chief architect died in a Knoxville hospital at age 71. He joined TVA in 1935 as resident architect for Norris Dam on the Clinch River and served as chief architect from 1946 until his 1965 retirement. Funeral plans were pending.
Jackson Mississippi AP reports Detective Lt William L Skinner 36 a father of three and top intelligence officer died from a head wound suffered in a gun battle at the Republic of New Africa headquarters. Seven assailants were arrested with murder charges possible if Skinner dies. FBI and police pursued additional RNA members and a Detroit arrest tied to stolen guns.
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