Stock Market Dips as Investors Sit Out Trading
Stocks drift lower in moderate trading as the Dow Jones 30 falls to 879.89 while the 60 stock average edges up to 321.2. Declines outpace advances on the NYSE amid mixed moves from steel, rubber, motors, metals, chemicals, rails, and airlines with some sectors higher and others lower. A 75,000 share Sony block traded at 16 and a 62,400 share Japan Fund block at 10 disappeared amid investor hesitancy linked to Nixon’s economic plan and labor opposition.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Nixon
Associated Press
Sony
Japan
New York Stock Exchange Selects Noon Prices
The New York Stock Exchange posted noon prices as of today with updated valuations across major listings. Traders monitor shifts in blue chip shares and market activity in a volatile session.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Stock Averages and Dividend Footnotes Abridge A P Stock
A document lists A P stock averages and explains that figures are unofficial unless noted and that dividend rates reflect last quarterly or semi annual declarations. It details numerous footnotes labeled a through n and explains special dividends stock dividends ex-dividend and related terms and conditions.
Shrimp Boat Snags Bomb Off North Carolina Coast
The shrimp boat Esther Jay owned by Sam Rogers of Kill Devil Hills hooked a 6 foot bomb in Pamlico Sound a mile south of the bombing range. A Portsmouth demolition crew found the ordnance harmless. A past detonation had injured crew on a prior snag.
MENTIONED IN THIS ARTICLE
Wanchese
Esther Jay
Pamlico Sound
Sam Rogers
Kill Devil — Hills
Portsmouth
Government Tightens Freeze Rules on Pay Raises
The Cost of Living Council bars longevity pay for armed forces and retroactive pay hikes in labor contracts during the 90 day wage price rent freeze. Treasury Secretary Connally says exemptions will be the exception. Pentagon confirms no automatic raises but promotion and hostile fire pay continue. Labor unions urge renegotiation or strikes if raises are blocked. Mills signals possible relief for individuals as Nixon's package moves forward.
MENTIONED IN THIS ARTICLE
John Stowell
Associated Press
Washington
Treasury
John B. Connally
Nixon
Canada
Rolls-Royce
Lockheed Aircraft Corp
Airbus
Connally
Cost of Living Council
Defense Department
Pentagon
Congress
Nixon Sa
Cost of
Afl-Cio
George Meany
Administration
United Auto Workers
Teamster
Omen
Lo Sol Sr
Capitol Hill
Wilbur D. Mills
House
Ways and Means
Thieu Faces Unopposed Campaign After Minh Withdraws
Vietnamese politics tighten as Duong Van Minh quits the race leaving President Thieu alone. U S aid pressure grows with Sen Robert Dole and Ellsworth Bunker warning Congress may curb funding. Protests flare as anti Thieu demonstrators clash with police during a veteran’s funeral.
MENTIONED IN THIS ARTICLE
George Esper
Associated Press
Saigon
South Vietnam
U.S
Nguyen van Thieu
Robert J. Dole
Republican National Committee
Thieu
Congress
Kansan
Thieul
Ells
Minch
Ellsworth Bunker
Washington
Nixon
Bunker
Minh
United States
Connally Presses Wage Freeze Clash With Laird and Pentagon
Washington AP Secretary of Defense Melvin Laird faces a clash as Connally challenges the Pentagon over length of service pay boosts during Nixon’s 90 day wage freeze. Pentagon spokesman Friedheim initially said boosts would be paid, then the move was suspended after Connally’s nationwide push and criticism from the Cost of Living Council.
MENTIONED IN THIS ARTICLE
Washington
Pentagon
Secretary of Defense
Melvin R. Laird
Department
Treasury
John B. Connally
Laird
Nixon
Capitol Hill
Connally
Jerry Friedheim
Friedheim
Defense
Cost of Living Council
David Packard
Packard
Nixon Defends Wage Freeze Amid Texas Pay Raises
In Dallas President Nixon denounced Texas Governor Connally’s plan to raise teacher and government worker pay despite the national wage price rent freeze. Press Secretary Ziegler said the move targets Texans for preferential treatment and warned of potential legal and political backlash as labor leaders urged contract cancellations.
MENTIONED IN THIS ARTICLE
Nixon
Dallas
Ronald Ziegler
Texas
Ziegler
Gov. Smith
Gov. Connally
Living Tenths Push CPI to 121.8 as Inflation Bites Workers
The Bureau of Labor Statistics reports the consumer price index at 121.8 with groceries up six tenths and housing costs rising four tenths. Average weekly earnings for about 45 million workers slip 35 cents to 127.22, still above last year but eroded by rising living costs. Meany and other union leaders argue inflation harms workers and warns the wage-price freeze will hurt further.
MENTIONED IN THIS ARTICLE
Bureau of Labor Statistics
Afl-Cio
George Meany
Bureau
Nixon
Textile import surcharge aims to aid U S producers
The 10 percent import surcharge on textiles slows Japanese goods to help domestic industry. An American Textile Manufacturers Institute official calls the move temporary and hopes Nixon pursues long term quotas. Japan sees a $700 million shrinkage in exports to the United States, with Hong Kong Taiwan and Korea affected too.
MENTIONED IN THIS ARTICLE
Washington
American Textile Manufacturers Institute
Nixon
Japan
Economic Planning ‘Bureau
United States
Hong Kong
Taiwan
Korea
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