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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Aug 26, 1971
Page
2
Stock prices eased amid profit taking after a strong market run. The noon Dow averaged 903.55, down 4.82, with the NYSE showing more declines than advances. Rubber, steel, electronics, airlines, tobacco and glamour stocks led losses while volume fell from recent highs.
The Associated Press provides a snapshot of market activity with Dow Jones industrials and bonds across sectors. Rail and utilities performance show modest shifts, while bonds and high grade rails post small changes in steady trading.
George Meany and Leonard Woodcock pledged no walkouts by about 100000 aerospace workers during a 90 day freeze though Woodcock called the measure unfair to workers. Agnew urged support for the administration package while criticizing the plan. Floyd Smith of the AFL CIO International Association of Machinists condemned the freeze as well.
NASD inter-dealer prices as of 11 a.m. show bid and ask quotes for several firms and sectors. Prices exclude retail markup and commissions. Examples include Amer Furniture, Hardee's, Life of Carolina, NC Nat Gas, Pub Serv of NC, Ruddick, Southern Film Extr, and Wix Wellington Hall with bid ranges from 3 to 39 percent and asks from 4 to 16 percent.
Indian Head Hosiery announces William R Bridges as vice president manufacturing based at the High Point plant. The Clemson University graduate, 40, previously served as Southern manufacturing manager at Van Raalte and plant manager at Burlington Hosiery. The company also declares quarterly cash dividends of 20 cents a share on common stock 1.125 on series A 4.50 on series B payable October 1 to stockholders of record September 10.
Duke Power Co announces Larry E. Law will become industrial sales representative in the High Point District, taking the duties September 1. Law, raised in Eden, earned a B S in electrical engineering from N C State University in 1968 and has worked for the company since then.
Alderman Studios will reduce involvement in motion picture production while keeping a capability in the field if demand rises. President Sidney A. Gayle Jr. says most staff in the section are reassigned to other departments, and other audiovisual services remain unaffected.
North State Telephone Co. asks the State Utilities Commission for authority to issue common stock preferred stock and notes totaling 3.65 million to fund expansion. The company with exchanges in Greensboro Thomasville and Randleman doubled its stations in 12 years and seeks 20 000 shares of non voting common stock 650 000 10 000 shares of preferred stock 1 million and 30 year sinking fund notes 2 million to cover expansion costs.
A travel warning advises preferring prepaid options to avoid rough roads on the return trip. Officials urge budgeting ahead to prevent delays and costly detours.
Daily Only By Carrier Okly sixty cents monthly two dollars sixty cents or thirty one twenty mail subscription in North Carolina. The Associated Press rights stated for local news and AP dispatches. Second class matter at High Point Post Office under March 3 1879 act. Independent contractor disclaimer and contact for home delivery rates. Ward Griffith Company National Advertising Representatives.
In a FT. MEADE court martial on My Lai, Col. Oran Henderson sits through testimony while jurors weigh whether he properly pursued investigating actions. The three day old trial explores his handling of a post massacre report, not the events themselves, with witnesses recounting questioning by Henderson and others.
Frederick Widmer, a key Medina murder trial witness, invoked the 5th Amendment and was held in contempt of court by Col. Kenneth Howard. Widmer, identified as firing on a wounded Vietnamese child, sought immunity for prior My Lai statements and was ordered to testify.
The Clinchfield Railroad seeks a variance from air pollution standards for its excursion train through western North Carolina. A public hearing before the Air and Water Quality Committee of the state Board of Water and Air Resources found no opposition to the petition.
Dr L Nelson Bell a noted Presbyterian lay leader and Billy Graham’s father in law resigns as director and associate editor of the Presbyterian Journal citing a board driven move toward church division. He condemns a plan to form a separate conservative denomination and notes the journal has become a mouthpiece for schism.
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