Stock Market Gains on Prime Rate Cut to 4 Percent
The New York stock market rose after banks trimmed the prime rate from 5 to 4 percent in a drive to ease credit. The AP index of 60 stocks climbed to 222.70 at noon, with industrials up and the Dow Jones average advancing 3.48 points to 634.19 as bonds gained. Major names listed include American Can, Goodyear, International Harvester, Standard Oil, U S Steel, and Sears Roebuck.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Associated Press
Goody
International Harvester International Tel
Tel
Standard Oil Co
Jones Laughlin Steel Johns Manville
Norfolk & Western
iPhillips Petroleum Pennsylvania Railway
Pepsi-Cola Procter & Gamble Reynolds Tobacco Republic Steel
Sears Roebuck Southern
J. P. Stevens Co
American Tel
the Texas Co
Union Carbide & Carbon
United Aircraft Corp
Westinghouse Electric Co
U. S. Steel
Youngstown Sheet & Tube
If. W. Woolworth Co
Changing incomes alter American buying habits in 1960
Americans tilt spending toward durable goods and services that save time while cutting big purchases. Middle income growth fuels more exercise in convenient foods, education, recreation, and family technology as households prioritize cheaper, lasting value over large gadgets.
Senate Rival Sees Javits Plan Shaping Kennedy Social Security Debate
Democratic leader Lyndon B. Johnson called the Javits plan an administration move toward the Kennedy backed Social Security idea. Some Democrats doubt it can pass without Republican votes while Southern Democrats oppose it. Vice President Richard M. Nixon is backing Javits. Both parties see the proposal affecting 16 million Americans over 65 and many younger relatives.
MENTIONED IN THIS ARTICLE
Lyndon B. Johnson
Texas
Capitol
Richard M. Nixon
Eastern from page 1 A tobacco price report summary
The report shows about 5 percent of sales to the Stabilization Corporation under the price support program, up from 3 percent last year. It lists approximate price ranges for leaf grades from leaf low orange to nondescript and notes Washington market initial hourly averages around $58.61 and Wilson market between $57.50 and $58. The text includes fragmented notes and incomplete lines.
MENTIONED IN THIS ARTICLE
Stabilization Corporation
Washington
Wilson
Security Quotations From August 23 1960
Unofficial bid and asked price ranges from the National Association of Securities Dealers and other sources. The table lists companies such as American Fidelity Life Colonial Stores Jefferson Standard Life Public Service of N C and Wachovia Bank with bid and ask percentages for reference. Origin of quotations will be furnished upon request.
MENTIONED IN THIS ARTICLE
National Association of Securities Dealers, Inc
American Fidelity Life
Butler's Shoe
Colonial Stores
Commonwealth Life
Drexel Furniture
Gulf Life
Jefferson Standard Life
N.C. Natural Gas
Public Service of N.C
Pyramid Life
High Pointers Win Cups In Horse Show
Five residents from the High Point area win cups at the second annual Mayodan Horse Show sponsored by the Mayodan Lions Club drawing 4 000 attendees. Winners include Paul Kepley and Jimmy Leonard of Lexington, Jack Leonard of High Point, Steve Byerly of High Point, and Charles Elyron of High Point with multiple ponies and horses across English and Western classes.
MENTIONED IN THIS ARTICLE
Madison
High Point
Mayodan Lions Club
High Pointers
Lexington
Paul Kepley
Golden Pride
Peanut
Jimmy Leonard
Jack Leonard
Steve Byerly
Golden Playboy
Charles Elyron
Ginger
First American Representative Assembly in Virginia
The first representative assembly in America was the Virginia House of Burgesses, founded in 1619, marking early Colonial self rule and representative governance in Jamestown.
MENTIONED IN THIS ARTICLE
Representative Assembly
America
Virginia
Oe of Burgesses
Investors debate tax exempt bonds fairness and strategy
A reader questions why high net worth investors access tax exempt bonds like Chesapeake Bay issues while others pay taxes on dividends. The advisor notes muni bonds typically trade in $1,000 lots and suggests small investors can participate. various scenarios cover mortgage decisions, securities investing, and college saving. Mr. Shulsky invites mail and offers to provide a list of suggestions.
MENTIONED IN THIS ARTICLE
Chesapeake Bay
Savings Bank
Abandoned Infant Dies In Hospital
In Charlotte a day-old baby girl found by a road gang convict near Wilkinson Boulevard died in a hospital incubator eight and a half hours after discovery. Police lack parents or origin details. the infant weighed about a pound and a half and was premature. A nearby couple reported seeing a car stop Sunday night with a man and two women exiting.
MENTIONED IN THIS ARTICLE
Charlotte
Wilkinson Boulevard
Here
Leaf Sale Volume Light Across Georgia Florida Belt
Leaf sales remain light at 14 Georgia Florida flue cured tobacco markets still active. Adel Quitman Valdosta and Waycross set to add final sales today as 10 of 28 markets closed last week. USDA said grade averages near Fridays. prices fluctuated $1 to $2 per hundred pounds with mixed gains and losses.
MENTIONED IN THIS ARTICLE
Valdosta
U.S
Senate health care clash shapes 1960s social security debate
The Senate opened votes on the Anderson and Javits health care amendments to a broader medical plan for the elderly. Anderson would raise payroll taxes to fund age 68 hospital and home care, while Javits offered 900 million in federal state grants for optional private or public coverage. Both face GOP and Southern Democratic opposition as the chamber weighs a companion public assistance medical bill.
MENTIONED IN THIS ARTICLE
Clinton P. Anderson
DNM
Kennedy
Anderson
New Yorker
Senate Finance Committee
Montana Gets Wintry Preview
A cold front brought winter-like conditions across Montana with snow and rain in many areas. Temperatures dipped below freezing near Helena while Billings fell from 90 to around 50 as thunderstorms and strong winds roared through the southeast, with gusts near 52 mph at Miles City.
MENTIONED IN THIS ARTICLE
Associated Press
Montana
Helena
Butte
Mercury
Billings
Miles City
Wyomin
Dakotas
Nebraska
Dickinson
N.D
Philip
Thruway Traffic Total For Seven Months Reported
Albany motorists logged 1,225,277,235 miles on the New York State Thruway in the first seven months of the year.
MENTIONED IN THIS ARTICLE
Albany
N.Y
Hammerstein dies after lengthy cancer battle in New York
Renowned lyricist Oscar Hammerstein II died at 12:20 a.m. surrounded by family and medical staff after a long illness. He had created and contributed to more than 40 musical works starting in 1920 and partnered with Rodgers to form a legendary collaboration.
MENTIONED IN THIS ARTICLE
Richard Rodgers
Oscar Hammerstein II
New York
Hammerstein
Rodgers
Doylestown
Dorothy
Philip Mathias
William
James
Rudolph Friml
Sigmund Romberg
Jerome Kern
Gershwin
Cotton’s hopeful note amid market turmoil and urban harshness
The quotation reflects a reporter’s note on cotton market swings and an artist’s view that reality mixes beauty and ugliness. The speaker emphasizes writing with hope, contrasting themes of mornings and slums while acknowledging ongoing troubles in the world.
Weather Delays Paratroop Drop at Fort Bragg Exercise
A mass drop of 3 600 paratroopers from the 82nd Airborne Division was delayed four hours at Fort Bragg North Carolina due to bad weather. The operation for Exercise Bright Star Pine Cone III aims to coordinate STRAC troop movements with 50 000 personnel involved.
MENTIONED IN THIS ARTICLE
FT. Bragg
N.C
Strategic Army Corps
STRAC
82Nd Airborne Division
101St Airborne Division
Air National Guard
Tactical Air Command
Camp Mackall
Tion
Air Force
South Carolina
Myrtle Beach
Shaw
Donaldson
Army
James N. Hanson
Bloomer
Wis
Naval Hospital
Herbert B. Powell
U.S. 3Rd Army
Thomas J.H. Trapnell
Soviet Union
Powell
Trapnell
Maurice A. Preston
9Th Air Force
Seymour - Johnson Air Force Base
Jan Air Force
Dow Jones Averages and Trading Totals Report
The Dow Jones average figures show 634.19 and 630.7 closing values with notable activity across Rails Utilities and other sectors. Trading volume reached about 1.73 million shares with varying totals for rails and utilities.
MENTIONED IN THIS ARTICLE
Pu He & Co
Bache & Ore ’Lla
Sunlight Shrinks Echo I Balloon Toward Earth
Pasadena based Echo I satellite drifted 2.2 miles per day toward the planet as sunlight pressure pushes the 80 pound balloon closer to Earth. Launched Aug 12, its orbital low point fell from 945 to 930 miles with a predicted ground encounter about 450 days after launch if atmospheric effects are ignored.
MENTIONED IN THIS ARTICLE
Pasadena
Calif
Duane Muhlman
Jet Propulsion Laboratory
103-Year-Old Hopes To Fly In An Airplane
Martha Gorsuch, aged 103, celebrated her birthday in Somerset Pennsylvania and expressed the wish to finally fly in a plane. The Civil War widow, born in 1857 at Hexabarger, still receives a Civil War widow's pension and spends time watching TV and riding in cars.
MENTIONED IN THIS ARTICLE
Somerset
Martha Gorsuch
Pennsylvania
Gorsuch
Hexabarger
Weather outlook for Southeastern states with scattered storms
Forecast for North Carolina and South Carolina and Georgia calls for warm, humid conditions with widespread and scattered showers and thundershowers. North Carolina records highs in the 80s and 70s with overnight 60s, Georgia shows highs near 90s, widespread thunder possible, and mountains seeing more showers.
MENTIONED IN THIS ARTICLE
North Carolina
South Carolina
Georgia
Weather Tonight Scattered Thunderstorms Across Wide Region
Widely scattered thundershowers are forecast tonight over the south Atlantic states, northern and central Plains, and the central and southern Rockies. Cooler weather is expected from the northern tier to the Rockies, while the Ohio Valley and middle and southern Atlantic states stay warm.
MENTIONED IN THIS ARTICLE
South Atlantic States
Central Plains
Rockies
Atlantic
Northern Plains
Ohio Valley
Middle
Atlantic States
Governor Keeps Hands Off Bridge In North Carolina Row
Governor Hodges refused to press the Highway Commission to move the Newport River bridge site near Morehead City. A Morehead City delegation urged further study, but Hodges said the commission’s decision stands and the governor will not intervene.
MENTIONED IN THIS ARTICLE
Nags Head
N.C
Hodges
The
Highway Commission
Morehead City
Beaufort
Conservation and Development Board
Commerce and Industry Committee
Roderick A. Stamey
North Carolina
Stamey
Mineral Resources Committee
Baldhead Island
Cape Fear
Advertising and Commercial Fisheries Committee
Newport River
Morehead
Chalk
C&d Board
Commercial Fisheries Committee
C. G. Holland
Tar Heel
Sunset and sunrise times noted for today and tomorrow
The sun will set today at 7 p.m. and rise tomorrow at 5 45 a m. No additional events or details are provided.
Also Mentioned on This Page
Business
Financial News
High Point Enterprise
Bache & Co
American Can Co
Allied Chemical & Dye
Adams-Millis Corp
American Tobacco Co
Business Mirror
Sam Dawson
AP Business News
Senate
Merstein
Dow Jones
Prev
Dete
U.S. Weather Bureau
Dept. of Commerce
Albuquerque
Anchorage
Asheville
Atlanta
Bismarck
Boston
Buffalo
Chicago
Cleveland
Denver
Des Moines
Detroit
Fort Worth
Honolulu
Indianapolis
Kansas City
Los Angeles
Louisville
Memphis
Miami
Milwaukee
St. Paul
New Orleans
Oklahoma City
Omaha
Philadelphia
Phoenix
Pittsburgh
Portland
Ore
Rapid City
Richmond
St. Louis
Salt Lake City
San Diego
San Francisco
Seattle
Tampa
Wilmington
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