Surcharge Battle Opens as Congress Debates Tax Increase
In New York AP report, the Johnson administration pushes a 10 percent surcharge on corporations and individuals to cover a widening deficit. Hearings begin with Fowler Schultze and Ackley defending the plan amid improving but mixed economic data including rising industrial output, housing starts, and corporate profits.
MENTIONED IN THIS ARTICLE
New York
Congress
Johnson
House
Ways and Means Committee
Secretary of the Treasury
Henry H. Fowler
Charles L. Schultze
Gardner Ackley
George McKinney Jr
Irving Trust Co
Federal Reserve Board
First Union Offers Free Checking With $100 Balance
First Union National Bank of North Carolina announced that starting Sept 1 regular checking accounts will incur no service charges if a $100 minimum balance is maintained. E R Alexander Jr, executive officer in charge of the High Point office, described the two account program as meeting varied customer needs.
MENTIONED IN THIS ARTICLE
First Union National Bank of North Carolina
E. R. Alexander Jr
High Point
First Union National
Alexander
Alba Aerotron American
Efird
American Fidelity
American Land
Atlanta Gas
Barber Greene
Bassett Furniture
Bowater Paper Bank N. C
Brush
C.M.C
Carolina Casualty Ins
Carolina Natural Gas Carolina Freight Carriers
Central Carolina Bankarolina Pwr. & Lt
Central
Coastal Plain Life Ins. Co
Colonial
Durham Life Ins
Eckerd
Farmers New World
Fidel Bankers Lite
Ins
First Union
Franklin Life Bk
Franklin Realty
Georgia International
Gulf Life Ins
Hardees Sys. Com
Hardees Sys. Deb
Harris-Teeter
Jatterns Yacht
Home Securit
Inc of Canada
Jefferson Ltd. Life
Kaiser Steel
Lance, Inc Law Research
Liberty Life Liberty Loan
Life of Carolina
Li'l General Stores
Lilly & Co
Eli No
Ns Lowes Companies
Luck’s, Inc
McLean Inds
National Food
National Oid
New Britain Machine
N. C National Bk
Bank Occidental Life Peninsular Life P & N Ray Piedmont Aviation
Public Service of N
Rockwell Mfg
Rowe Furn
Security Life & Trust
Paper Frontier
Mills
Textiles, Inc
Vermont
Ja Bank
Walker
Arolina Tel
C. D. Sheppard
Sheppard Motor & Supply Co
Evinrude
Sheppard
Milwaukee
Old Settlement Mauritius and Prince Maurice of Nassau
A historical note describes Mauritius once called Old Settlement after its stadtholder Prince Maurice of Nassau and the British Corn Island heritage.
MENTIONED IN THIS ARTICLE
Mauritius
Prince Maurice of Nassau
Wall Street Signals and Economic Watchdog Outlook
North American paper notes inflation “prosperity” may align until after the 1968 election. It cites continued government spending, rising corporate plant expansion, and a looming reckoning from demand-supply shifts. Market analysts foresee mixed paths with earnings pressure, price dynamics, and possible Dow fluctuations before Labor Day.
MENTIONED IN THIS ARTICLE
Alliance
NEW York
NASD Inter-dealer Prices Snapshot At 3 PM Thursday
Quotations from the NASD show representative inter-dealer prices around 3:00 p.m. Thursday. Markets shift through the day and prices exclude retail markups markdowns and commissions.
Manpower Corp. Aims At Jobs
Secretary Thad Eure chartered the North Carolina Manpower Development Corp to handle employment programs in the war on poverty. The nonprofit will seek funds from foundations and agencies to grant job training projects, with activities similar to the North Carolina Fund but focused on employment.
MENTIONED IN THIS ARTICLE
Raleigh
Thad Eure
North Carolina Manpower Development Corp
North Carolina Fund
Bank Debits Rise in Most North Carolina Centers in July
Federal Reserve figures show July bank debits up in most NC centers with Greensboro-High Point down 7 percent. Durham up 31 percent, Fayetteville 15 percent, Asheville 14 percent, Wilmington 9 percent, Charlotte 8 percent, Raleigh 6 percent, Winston-Salem 1 percent, Wilson 15 percent, Kinston 8 percent, and Hickory down 1 percent.
MENTIONED IN THIS ARTICLE
North Carolina
Federal Reserve Bank of Richmond
Greensboro - High Point
Asheville
Wilmington
SMSA
Charlotte
Price Appreciation Returns for Most Investors
Investors chase higher yields and safety as price rallies favor bonds and fixed income. Pension funds and individuals shift to corporate and U S government bonds with three to five year maturities while earnings growth remains below analyst hopes. Rising living costs and taxes dampen consumer purchasing power as steelmakers warn of price boosts amid cost climbs.
MENTIONED IN THIS ARTICLE
Alliance
New York
Finance
U. S
Johnson
Washington
LBJ
Congress
Bankers Awakening to Consumer Lending Shift
North Carolina National Bank vice chairman Thomas I. Storrs told the University of Virginia class of the consumer banking school that bankers woke from a postwar sleep to embrace consumer lending. He noted the rise of instalment lending, with banks market shares growing to 35 percent of personal loans, 68 percent of home modernization loans, and 56 percent of auto loans by 1966.
MENTIONED IN THIS ARTICLE
Charlottesville
North Carolina National Bank
Thomas I. Storrs
University of Virginia
Storrs
Also Mentioned on This Page
Committee
Wilbur D. Mills
D-Ark
Ackley
Commerce Department
Paul Owen
Crown
Lou Schneider
Wright Investors’ Service
Wright
Goodbody & Co
Dow
Harris, Upham & Co
Reynolds & Co
Weisenberger & Co
Alexander Hamilton Institute
E.C. Lane
E. O. Lane
Austin YT
Swaine
Larry
Wells
A. Neal Jelie
State
Ast
Hickory
Richmond Reserve Bank
Fifth District
Ray B. Wesson Jr
Allen B. Welborn, Inc. Insurance Agency
The
St. Louis
Genera Insurance
United
Sharp
F. C. Sharp
American Osteopathic Association
Board of
Chicago
AOA
By Lou Schneider
Pension Fund
Robert A. McCliston
Life Pension Plans
Acciden
T & Health
High Point Bank
John Diffendal
Travelers
Hartford
Conn
Piedmont Insurance
W. High
Atta Lamsch EL Coc General Insurance
High Point, N.C
North Main Street
Dela Aguas
Reichhold Chemical
New York Stock Exchange
Greensboro
Geo. G. Jones
Mgr
Charles E. Diffendal
J. Sturgis May & CO
la Stocia & Bonds
North Carolina Bank
Professional Life Insurance Service
Lyon
Mutual Life Insurance
America
New England Life
Hayden Plac
Geo
P. Clark
LLU
Life Insurance
Pension
First Union National Bank
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