Market slide after unemployment jump hits stocks hard
New York stocks fell as government reports show unemployment rising to 6.5 percent in November, the highest in 13 years. Dow Jones industrial average dropped 5.79 to 581.27 as losses outpaced gains on the NYSE and Nasdaq. Major issues like Southern Co Texas Instruments and Xerox declined amid tax and oil sector concerns.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Labor Department
Phillips Petroleum
North Sea
Xerox
Texas Instruments
IBM
Glamor
NYSE
American Agronomics
Dow-Jones
Windus
Grace Ratis
A.P
Ubl
Ray
High Point Enterprise Ad Rates and Contact Details
The High Point Enterprise states its status as an independent newspaper serving High Point North Carolina with advertising rates and subscription details. It lists pricing for daily and Sunday mail subscriptions, monthly plans, and emphasizes tax and AP News usage rights.
MENTIONED IN THIS ARTICLE
High Point Enterprise
High Point
N.C
Bleak Yule Faces Many Workers
Associated Press reports that Carolina textile plants cut back for Christmas with temporary closures and extended breaks. Fieldcrest Mills closed two Eden North Carolina plants for a month until January 5 affecting about 2,800 workers while other sites run reduced schedules. Burlington Industries plans two week closings at 40 facilities with Christmas bonuses and unemployment benefits eligibility. vice president McLendon says closings are not widespread.
MENTIONED IN THIS ARTICLE
Associated Press
Carolinas
Fieldcrest Mills
Eden
N.C
Burlington Industries
Burlington
Charles A. McLendon
Magnavox Closes Five Plants for One Month in TN NC
Magnavox Co. of Tennessee will suspend production at four East Tennessee plants and one North Carolina plant for one month starting December 13. About 5,000 workers will be affected, joining 500 laid off this week and 1,100 two weeks earlier. Plants in Greenville Johnson City Morristown Jefferson City Tenn and Arden NC manufacture Magnavox televisions radios stereos and electronic games.
MENTIONED IN THIS ARTICLE
Greenville
Tenn
Magnavox Co
Tennessee
East Tennessee
North Carolina
Johnson City
Morristown
Jefferson City
Arden
N.C
Magnavox
Nixon Aides Reluctant Witness in Colson Testimony
Washington AP report notes Charles W. Colson faced distrust from Nixon aides in his Watergate testimony. Colson described suspicions about John Mitchell, Haldeman, Ehrlichman, and Dean, and recounted meetings tied to Liddy’s espionage plans. Needing to cross-examine, Colson was brought from Alabama prison as a court witness.
MENTIONED IN THIS ARTICLE
Washington
Charles W. Colson
John N. Mitchell
H. R. Haldeman
John D. Ehrlichman
White House
Colson
Mitchell
Richard M. Nixon
Haldeman
John W. Dean III
Ehrlichman
Howard Hunt Jr
Hunt
James F. ‘Neal
William S. Frates
Frates
Alabama
Ellsberg
Democratic
Waldorf Astoria Hotel
New York
Dwayne O. Andréas
Hubert H. Humphrey
G. Gordon Liddy
Dean
William C. Bittman
Bittman
Jeb Stuart Magruder
Economic package aims for broad reforms in party charter
The Rules Committee approved a draft charter for the major party's first written constitution. It backs an economic council to apply controls if needed, a swift public service jobs program, tax reform, RFC revival, tighter antitrust rules, strong energy conservation, and immediate national health insurance. Delegates warn of walkout by some black members over quotas, while labor caucuses ended peacefully.
MENTIONED IN THIS ARTICLE
Ison
Barbara Morgan
Washington, D.C
Economic Council
Reconstruction Finance Corporation
National sales tax idea aims for next July action
The speaker proposes a value added tax as an additional revenue source. It would apply at every stage from raw material to consumer. The concept has been used in Western Europe. The goal is to have a tax revision bill ready for action by next July.
MENTIONED IN THIS ARTICLE
Western
Europe
Daily Newspaper Price Rise Signals Industry Shift
New York reports show the American Newspaper Publishers Association findings that most daily papers have moved to 15 cents in price, up from 10 cents for many titles last year. Rising costs, particularly for newsprint, drive the increases. Sunday editions largely now cost five cents more annually than before.
MENTIONED IN THIS ARTICLE
New York
Tdcent
American Newspaper Publishers Association
ANPA
Ravi Shankar Hospitalized in Chicago Tour Stop
Recording star Ravi Shankar, 54, is in fair condition after being admitted to a Chicago hospital with exhaustion and heat pains. The sitar virtuoso arrived in the city on a concert tour with former Beatle George Harrison and entered the hospital on Wednesday.
MENTIONED IN THIS ARTICLE
Chicago
Ravi Shankar
India
George Harrison
Shankar
Fuel reserves and rationing eyed by lawmakers
Morton urged a flexible approach to energy, backing possible gasoline taxes while considering crude oil or energy taxes. A Interior Dept spokesman described Jacksons plan for a national fuel reserve system with presidential standby authority to ration fuel and compel conservation, plus power to allocate scarce materials and press energy firms to boost domestic production.
MENTIONED IN THIS ARTICLE
Morton
Congressional Joint Economic Committee
Ford
Interior Department
Jackson
Milk processor plans price rise after Milk Commission decision
Kilgore of Pine State says his North Carolina plant cannot absorb the penny per quart rise granted by the Milk Commission to farmers. He estimates higher commissions and inflation driven costs will add at least a half cent per quart. The commission approved 50 cents per 100 pounds of raw milk, less than farmer demands, with 46 quarts per 100 pounds. Kilgore notes gains are slim before taxes and expects consumer prices to rise less than 5 percent for the year.
MENTIONED IN THIS ARTICLE
Kilgore
Milk Commission
Pine State
North Carolina
Chrysler to Double Tank Output by 1976 in Detroit Plan
Chrysler Corp will raise M60 tank production from two to three a day next year and to four daily by 1976 to meet Army shortages after M60s were sent to Israel in the 1973 war. Tanks cost 400000 to 450000 dollars each. GM is studying producing an existing model tank to augment supply.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
General Motors
Mideast
Chrysler
Israel
Defense Department
Pennsylvania
Terrorists Attack Israeli Kibbutz Wounding Two on Border
Arab militants attacked an Israeli farming settlement on the Lebanese border wounding two Israelis. Ten Americans on the kibbutz escaped harm. Israeli troops killed one infiltrator and launched a large search for gunmen who fled. PLO claimed responsibility from Beirut as heavy fighting continued at midday.
MENTIONED IN THIS ARTICLE
Associated Press
Rosh Haniqra
Israel
Beirut
Palestine Liberation Organization
Mediterranean
Jonathan Broder
Rockefeller Nomination Heads for Senate Confirmation
Vice President-designate Nelson Rockefeller nears Senate approval after nine days of House hearings with a strong committee forecast. Rockefeller denied concealing a $30,000 loan and said gifts of $625,000 to a political official were not improperly used, while noting a record search showing Laurance Rockefeller’s loan to Miller.
MENTIONED IN THIS ARTICLE
Jim Adams
Associated Press
Washington
Nelson A. Rockefeller
Nixon-Agnew
House Judiciary Committee
Rockefeller
Senate
House
Ford
Peter W. Rodine Jr
D-N.j
William J. Rowan
Port Authority of
New York
New Jersey
Laurance
William E. Miller
Miller
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Sale
Siregrtad
KerrmcGel
Sandesasio
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Kroger
Srollinds
Sithorm
Hss
LearSigg
Peccellew
E . Ee
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TelexCp
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Va Tesoro P
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Borden
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CastiCk
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CBS
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Amo Giller
Point N.C
Marsha
Dentui
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Intererite, Inc
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Cinerams
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