Market slips as Dow nears 816 amid profit taking
Stocks drift lower into the afternoon with the Dow Jones average dipping 2.46 to 816.20 as profit taking and tax-switching concerns weigh on values. The 60 stock AP average falls 0.8 to 276.7 while most sectors retreat. metals and airlines mix. Notable moves include Mobil Oil trading 58,700 shares at 4 1 2 off, and RCA up 4 to 264. Texaco and American Telephone also retreat modestly.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Dow
Associated Press
Mobil Oil
Boise Cascade
American Telephone
Fannie Mae
RCA
Texaco
Amex
Syntex
Valle's Steak
CBS
Vamobnot
Mohas
Monsant
Wemontdut
MorNor
Motorola
Mtstatt
Corp
Ste Dartind Pb
DanRive
Norfolk W
Va Ning MP
Norris
Deere Co
Noamrk
Delta Air
NoStaPw
Northrop
Deridis
Nwst Ait
Det Steel
NwiBanc
Norton
Dillon Co
NortSim
Disney
Diversind
Dressind
Okla Ngs
Olin Corp
Ova Lt
Omarkin
OynaAm .Np
Otis Eley
Eowen Cng
East Air Lin Id
Owen Th
EasKodaka
Onlin EatonYa
Pac GE
Eg&g
Eipasong
PacPwl
Eltracp
Pac T&t
Panams
Panhc
Evans P
Penn Cent
PennDix
Penney JC
Ea PaPwit
Fansteel Inc
PepsiCo
Pitney
FMC Co
Purikind
GAC Cp
Pullman
GAF Corp
Palston P
Banco Inc
MMM
Raytheon
Va Rca
Gen Tire Ib
Va AlcanAlu
GaPacif
Reyn Ind
Gillette
Rohr Cp A
Allied Ch
Glen Alden Gabhe
Oy Ccola
AlliedStr
Clone Marin
Roy Dutch
Allis Chaim
Ryder Sy
Alcoa
Goodyr
Hess
Grace
Tim
Satew
Stregisp
ASK Am Can
Sanders
Acrysug
AMC
Ameri. Furn
Ameipw
Grumm
Scheniey
Carolina Caribbean
Scoa Ind
Colonial Stores
Am Motors
Nee
Scott Paper
Eckerd Drug
Halliburt
First Union Bnk
Harris
Sears
Hardee
Hercule
Shell Oil
At&t
T&t
HoernWal
Signal Co
AMF Inc
Hoff Electra T
SingerCo
Life of Carolina _ AMP inc
Hobidyinn
Ae Smith KF
Ncnb Corp
Ampex Corp
HollySug
Sony
Piedmont Aviation
Ancor
Arch
la Mousehf
South Co
idahoPw
Perry
Idea
Bas
Atlas Chem
Wix
imartCp
StBrands
Atlas Corp
VNA Cp
Ie S'd Kollsman Wellington Hall
Avco Cp
Incer Rand
Babckw
Fauf
Minera
Tevensi
Beckman
Beech Air
Sunol
Swift Co
Bendix
BenefiCo
Itek Corp
Nie Ve Jewel Co
Tampa
Teledy
BoisCas
JonLogn
Telex Co
JonLau
Tenneco
Il Borfar
Rv Joy Mfg
Texasinst
Thiokel
TimesMir
Bunkr Ramo
Val
Kayser
Timken
Kenncott
Todd Sh
KimibCik
Tracsmra
Cal Finan
Kresge SS
TRW Inc
Kroger
Lagi Wkee
Hearsion
UAL Inc
Cartwal CarrierCp
LenVel Ind
UMC Ind
Va CastieCk
Libofd
Libbmcnl
Cenco Ins
Ae — Va
Liggt
UN Pac Cp
Lingtvt
Union Pacif
Erees
Cerro
Wy — Va
Littonind
Ohio
ChiMil Spp
Lonesga
Chris Cft
Chrysir
ClevEish
Univer
Coca Col
Macke Co
Upjohn
Colq Pal
Macy RH
Ve Collin R
Marcor
Mar Mid
Martin
Wachova
Maytag
Wstn Alr
McGrah
Va “In Bane
Ve Mead Corp
WaUnion
Melv Sh
Wena A Ed
Ya Memorex Cp
al Wi
Mercans
Waive
Merck
MGM
Xerox Cp
Riidown Press
Inter-Dealer Market Prices Report At 11 A M
Prices in inter-dealer markets move through the day with quotes at about 11 a m. The report notes over-the-counter bid asked levels and the variability of prices across dealers.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Energy Shortages Rise as Utilities Lag on Reserves
The Federal Power Commission warns utilities must hold 15 to 20 percent extra capacity to handle unexpected demand. TVA reports a 15.7 percent reserve, hindered by Brown's Ferry delays. Bonneville at 4.4 percent. Florida Power & Light at 7.5 percent due to Turkey Point delays. Northern States Power sits at 2 percent as new plants stall. Gas supply also tight with drilling down from 1955 to 1968 and no surplus for new customers, while fuel oil demand climbs rapidly.
MENTIONED IN THIS ARTICLE
Federal Power Commission
Tennessee Valley Authority
John Lopez
TVA
Chattanooga
Tenn
Brown's Ferry
Ala
Bonneville Power Administration
Washington
Oregon
Idaho
Montana
Florida Power & Light Co
Miami
Parto i
Turkey Point
Northern States Power Co
Minneapolis
Atomic Energy Commission
Noa Gas
U.S
Truck Crushed Trim Slightly Injures Driver in Charlotte
Two 50 pound stone trim slabs fell from a third story bank building onto a relivery truck roof in downtown Charlotte. The driver, Edgar Buchanan, 25, escaped with minor injuries after being knocked to the ground. He was treated and released from a hospital.
MENTIONED IN THIS ARTICLE
Charlotte
First Union National Bank
Edgar Buchanan
Social Security Bill Adds Catastrophic Illness Plan
The House backs $4 billion in new benefits with a $9 000 base while leaving next year’s rate unchanged. A $6 billion surplus in Social Security financing may fund the increases. The Senate Finance Committee adds an 80 percent health cost protection above $2 000 or 60 days inpatient care, covering all under 65.
MENTIONED IN THIS ARTICLE
House
Robert M. Ball
Congress
Senate Finance Committee
Long
Washington
Humorist Rube Goldberg Dies At 87 In New York
Rube Goldberg, the cartoonist famous for intricate chain reaction inventions, died of cancer at 87 in New York. He won a Pulitzer and inspired the term Rube Goldberg for convoluted solutions, with a Smithsonian exhibit honoring his work.
MENTIONED IN THIS ARTICLE
New York
Rube Goldberg
Goldberg
Washington
Smithsonian Institution
Museum of History and Technology
Reuben Lucius Goldberg
San Francisco
University of California
Witness Testimony Flags My Lai Killings by Calley
A court martial witness testifies that Lt William Calley executed groups of Vietnamese civilians at My Lai, with 90 to 100 deaths cited. The witness describes firing into a second group and Calley killing a woman who surrendered, amid defense calls for mistrial over new evidence.
MENTIONED IN THIS ARTICLE
Benning
William L. Calley
My Lai
George Latimer
Calley
Pfc
Paul Meadie
Turner
Latimer
Kenneth Raby
Cambodia to Get Aid and Air Support
Secretary Rogers told a Senate subcommittee the United States will provide Cambodia with air interdiction aid and economic military assistance totaling 155 million dollars. Most funds would buy ammunition and basic equipment to help Cambodia defend itself and prevent North Vietnamese reoccupation of ports and border sanctuaries. The package is part of a broader Nixon administration request totaling 535 million for Cambodia Vietnam and other nations, with Israel credits already authorized at 500 million. Rogers and Laird seek swift action this year and plan further discussion with the Senate Foreign Relations Committee.
MENTIONED IN THIS ARTICLE
Walter R. Mears
Associated Press
Washington (Ap
William P. Rogers
Senate Appropriations
United States
Cambodia
Rogers
Melvin R. Laird
North Vietnam
U.S
South Vietnam
Laird
Nixon
Israel
Vietnam
South Korea
Middle East
Southeast Asia
Senate Foreign Relations Committee
Hughes Declares Everything Fine From Bahamas Call
Las Vegas reports Howard Hughes in a Bahamas vacation after a 45 minute call to Governor Laxalt dispelling kidnapping fears. Courts battle over Hughes empire control in Nevada continues as Hughes Tool Co. moves to terminate Maheu Hooper authority and restore Hughes properties.
MENTIONED IN THIS ARTICLE
Las Vegas
Nev
Howard Hughes
Nevada
Bahamas
Hughes
Paradise Island
Paul Laxalt
Laxalt
Sands Hotel
Las Vegas Strip
Desert Inn
Sheriff's Deputies
Hughes Tool Co
Texas
Hughes’ Nevada Enterprises
Robert Maheu
Robert Hooper
Tool Company
Maheu
Hooper
Uash
Hushes
Huehee
Tool Comresy
Owl Comnenv
Mahen
Huces’ Frontier Hotel
Le~a't
Milk Price Decision Postponed in North Carolina
The North Carolina Milk Commission postponed a decision on fixing retail milk prices after a motion by W L Teeter. The delay followed a report that the transcript of an earlier hearing was not yet completed and would likely be ready after Christmas.
MENTIONED IN THIS ARTICLE
Raleigh
North Carolina Milk Commission
W. L. Teeter
Mooresville
W. C. Harris
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Ormand
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