Forecasts Shake Up Market Forecasts Shake Up Market
Wall Street faced its worst slump since mid October as bad economic news and glum forecasts for 1958 hit optimism. The AP market index fell sharply with a $5.78 billion drop in quoted NYSE values and the AP 60 average down to 152.70, while blue chips and sectors like steel motors and rails hit new lows for the year.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Sputnik I
New York Stock Exchange
Associated Press
Aloe
Students from 46 nations study at Illinois Tech
Students from 46 nations pursue study and research at the Illinois Institute of Technology, reflecting a diverse international enrollment and scholarly activity across engineering, sciences, and technology programs.
MENTIONED IN THIS ARTICLE
Illinois Institute of Tech
Local merchants weigh Christmas business and trends
High Point retailers report varied holiday demand with some saying sales already exceed 1956 levels while others see little change. Bond activity remains strong as Guilford County buyers push E and H bonds near two million year total. Heritage Furniture pilots slide film sales aids. Stroupe Mirror adopts ultrasonic cleaning on an assembly line. The Texas Company mails new credit cards effective January 1.
MENTIONED IN THIS ARTICLE
High Point
Guilford County
Mecklenburg
Stroupe Mirror Co
Thomasville
Robert Stroupe
Optimistic Outlook for 1958 From Furniture, Steel Firms
Kenneth Kroehler of the world’s largest furniture maker predicts 1958 sales will exceed 1957 as home building and interest in home furnishings rise. American-Marietta forecasts a 1958 sales rise after a 15 percent gain to about 234 million dollars in the year ended Nov. 30, with a projected 250 million next year. A-M declares 1.25 dollar preferred quarterly and 25 cents on common dividends. Ken White Associates designs Greensboro High Point Airport terminal interior for a 35-seat coffee shop and 150-seat dining room with a motion picture screen. Franklin Shockey Co. names Joe E. Thompson and Wesley O. Webb as North and South Carolina sales reps.
MENTIONED IN THIS ARTICLE
Kenneth Kroehler
American-Marietta
Kroehler
American - Marietta
A-M
Ken White Associates
New Jersey
Greensboro - High Point
Franklin Shockey Co
Joe E. Thompson
Wesley O. Webb
High Point
North
South Carolina
Air Control
Allvac
Eenteene
Amer
Efird Mills
Heritage
Eeesess Amer
Tta
American Marietta
Amer. Commercial Bank
Anvil Brand
Ssceesess
Arno Stone Companf
Esse Atlanta Gas Light
Atlantic
Eeeneee Atlas Sewing Centers
Bank of Amereee Eeerree
Bassett Purniture
Bausch & Lom
Toute
Carolina Tel
Tel
Carolina A
Central
Mite, CO
Colonial Stores
Sveeus
Ptaeeee
Collyer
One
Hetrigureite Oeeveee
Drexel Purniture
Taane Electronic Acc. Card Corp
Mills Inc
Eee Veneer Farrington Mfg
Beeen Ees
Garfinckel
Guardian Consumer Gaige Equipment Seer
Guardian Fin
Guilford Nati
Gulf Cities Gaseeteeteeree
Gulf Life Insurance Cesses
Hanes, P H
Holiday Inns of Amer Oe
Home Fin Group
Tee Home Insurance Co
Ad Wear Kt Mig Co
Cesssecsere
Inter Investors
Sven Investors Syn
Canada
U Ivey, J B and Co
Ceesens Standard
Kaiser Steel
Kellogg Company
Kingsport
Ad Oeneee Blower
Moore Handley Haw
North Amer
North Carolina
Ohio State Life
Cscsseesesee
Penn
Scccseeseves
Fruit Co Soos
Penn Fruit Common
Pfaudier-Permutit Co
Eeeeee
Piedmont Aviation
Ad AJ
Piedmont and Northern
Public Service N
Rawleigh, JN and Co
Spotty business year end seen as mood shifts
The article notes a mixed holiday trade scene with New York and Chicago stores active as Christmas lights draw shoppers, while layoffs loom in cement, auto, typewriter, television, and textile sectors. Ford and Chevrolet race in production with total 1957 car output near six million. steel output dips to multi-year low amid strike-free week.
MENTIONED IN THIS ARTICLE
New York
Fifth Avenue
Main Street
New York City
Chicago
Hughston M. McBain
Marshall Field & Co
Montgomery Ward & Co
Iday Dodge
Detroit
Plymouth
Chrysler
Ford
Mahwah
N.J
Chevrolet
Rambler
American Iron & Steel Institute
Adventists Report Growth in South America and Africa
The Seventh Day Adventist Church reports its fastest growth is occurring in regions once viewed as unlikely, notably South America and Africa, signaling a shift in global expansion trends.
MENTIONED IN THIS ARTICLE
Adventists
Washington, D. C
Seventh-Day Adventist Church
South America
Africa
Corporate Bonds Show Improvement Week Sixth Gain
In New York on December 21, corporate bonds extended a sixth week of gains led by utilities after a modest rise in U.S. government bonds. The advance reflected cautious trading with some carriers and rail issues contributing to the broad move.
MENTIONED IN THIS ARTICLE
New York
U.S
Chalkage
Tae
Rai
Crop Forecast Triggers Grain Market Liquidation
The USDA forecast a larger 1958 winter wheat crop and higher corn yield than prior estimates, prompting a broad selloff in wheat and corn futures on the Board of Trade. The 1958 wheat crop is seen near 150 million bushels higher corn around 3.403 billion, shifting sentiment despite weather damage to crops in the field.
MENTIONED IN THIS ARTICLE
Chicago
Department of Agriculture
Board of Trade
USDA
Also Mentioned on This Page
Micro-Products Co
Jack Green
Bill Horney
Dick Wisenburg
Horney
Wisenburg
As Veonen
Duke Power Company
Heritage Furniture
Texas Company
By Joe Brown
Walter Breede JR
Blackwell Insurance Agency, Inc
N. Main St
Willie” Lowe
Wilson
North Main Street
Spivey
Hardware Finance Agany
Homes & Business
Mutual
Vke
Carolina
P. O. Box
Shield Bantam
Security Life and Trust
Security National Bank
Sonoco Products
Southern Plastics
Southeastern Factors
Southeastern Fund Eee
Southland Life Sachs Seveetee
State Loan
Pinance A
Sterling Investment Fund
Iscesssccvveston
Eeeetreeerree
Taylor Delhi
Trans Texas Eastern Tran
Twin Coach
America
Automotive Accessories
Wilbur M. Currie
Dist
J. Leslie Andrews
C.L.U. Co
C. Hooks
P. Lee Smith
Security Bank
Jeffers
Piedmont Natural Gas
Jefferson Stand. Life Ins
Public Service N. Car
North Carolina Tel. Co
Lucky Stores
Domestic Finance Group
Walt Disney Productions
Giant Food Properties
J. Sturgis May & CO
N. Main
Member
Federal Deposit Insurance Corporation
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