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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Dec 11, 1973
Page
1
New York stocks showed mixed results as buyers dried up after recent gains. Analysts warned the market could test its bottom again despite the Dow Jones average slipping to 950.09 at noon after a brief rally.
AP compiled stock averages show mixed movement with noon Tuesday levels for rails and utilities. The report lists various index figures, highs and lows from 1972 and 1973, and notes on the market sectors including industrial transportation and finance.
Industrial and transportation sectors listed with figures like 850, 09 and 40,84, including bonds and utilities. The fragmented OCR shows price quotes and indices such as HVM40,26 283.80 and various rail and utility values, indicating a stock market rundown.
Governor Nelson A. Rockefeller announced his resignation effective next Tuesday noting he will not seek a fifth term. He will head the Commission for Critical Choices for Americans and the National Commission on Water Quality, keeping options open for a presidential run only after 1975. Lt. Gov. Malcolm Wilson will succeed him.
Inter dealer prices as of about 11 a m quoted through E F Hutton High Point office. Prices exclude retail markup, markdown or commissions. Listings include American Furniture, Coca Cola, North Carolina firms, and several manufacturers with bid and ask figures across multiple stocks.
The Arab embargo may end early next month if Israel withdraws from occupied lands, while U S fuel shortages are seen easing in early 1974. A stock market rise continues as Congress advances energy bills and daylight saving time to cut demand. Prices rise for heating oil and gasoline amid enforcement checks and industry doubts.
A severe cold snap hit North Carolina mountains with Grandfather Mountain near Linville recording 50 knot winds and a chill factor around minus 54 at 10 am. About one inch of snow fell, while Laurel Springs dipped to 12 degrees overnight and Canton Fletcher Hendersonville Asheville saw 14 15 16 degree readings.
Ed Dresh, owner of an auto repair shop, proposes a larceny lottery to fund cash rewards for the next theft, robbery, or burglary victim. City police say the idea does little for the department’s image as merchants are asked to contribute ten dollars each.
The Senate rejected an amendment by Sen. Jesse Helms to limit school busing to conserve gasoline. The 46-45 vote tabling the proposal ended the plan that would let children attend the school nearest their homes.
House Democrats held a news conference asserting they pay state taxes regularly. Speaker Carl Albert disclosed paying 875 a quarter to Oklahoma, Majority Leader ONeill about 2000 annually to Massachusetts, and Whip McFall over 600 a quarter to California. A California tax status contest for Nixon was anticipated by the Franchise Tax Board with Democrat William Bennett urging review due to Nixon's California ties.
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