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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Dec 20, 1971
Page
2
The stock market surged on the weekend currency realignment agreement with the Dow up 9.93 to 883.73 at noon. Big Board volume reached a record 8.87 million shares as foreign funds reportedly flowed into U.S. stocks.
The Associated Press lists stock averages for rail, utilities and other sectors with noon figures, prior day, week and month comparisons, and year highs and lows. Bond averages for rails, utilities and finance mirror similar daily and period figures, showing net changes and current levels.
Stock market snapshot shows 3 industrials around 883.73 up 9.93 percent while transportation up 24.78 with 239 points. Utilities and ore stocks listed with prices such as PSA 305.73 up 3.08 and bonds at 72.83 down 0.06.
New York stock index snapshot at noon shows mixed results across major sectors with the industrial, transportation, and finance groups weighing on the market. Investors monitor ongoing earnings and macro data for directional cues.
A small plane carrying four Chesapeake men made a crash landing on a busy Charlotte street. The pilot suffered minor injuries from glass as J. R. Browning was hospitalized. Passengers Terry Browning Floyd Parker and Bill Brown escaped injury. The craft ran out of fuel about three miles from the airport and flipped after hitting the median on Independence Boulevard.
The Supreme Court upholds a ruling stripping federal tax exempt status from private white academies set to dodge desegregation. The decision follows a June 30 lower court affirmation and a January 30 1970 injunction affecting Negro public school children in Mississippi.
Two inmates Francisco Bones Rivera 19 and Stephen Holloman 25 escaped from Wake County jail after overpowering jailer Charles Hill late Sunday. Rivera faced murder and bank robbery with CID agent slaying charges. Holloman linked to the Oct 14 shotgun killing of John Massey. Authorities hunted them as Hill and Heath were injured and the escape involved keys and secured doors.
Em ployes in the composing and press stereotype rooms of The Hickory Daily Record vote to unionize with Local 338 of the International Typographical Union AFL-CIO. The National Labor Relations Board supervised the vote, which totals 27 to 4.
In Hamilton Bermuda prime minister Edward Heath will urge President Nixon to join a multimillion dollar relief program for East Pakistan. A high level British source says U S aid is essential to halt Bengali hunger and shattered communications as Western nations seek to reduce Indian reliance on the Soviet Union. The talks also cover interallied relations, salvage of India American ties, and Washington Beijing Europe dialogue.
The Coast Guard resumed search for five crewmen missing after the tug Maryland sank in high winds on Albemarle Sound. John Williams, the lone survivor, called his rescue a miracle as he clung to the wreck and was pulled from icy water. The captain's body was recovered. four Norfolk Va crewmen and one Danville Va crewman remain missing while NBC Lines of Norfolk operates the vessel.
Congress eased withholding by allowing higher deduction rates next year. For 1972 single-earner households, claim one more exemption to offset lower pay during the year. Examples show married couples with two children and varying incomes see reduced weekly withholdings, while those under $30,000 generally benefit overall.
President Nguyen Van Thieu declares 24 hour cease-fires for allied forces in South Vietnam for Christmas New Year and Tet as Viet Cong had planned multi day pauses. Hours start 6 p.m. Saigon time on eve of each holiday with Cambodia and Laos excluded from the rule.
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