Fed tightens lending to curb inflation in New York banks
The Federal Reserve Board and major commercial banks moved to restrict money lending to combat inflation. The Fed raised the discount rate to 5 percent, followed by big banks lifting their prime rate to a record 6 percent. The discount rate is the Fed's loan rate to member banks, while the prime rate is banks' minimum charge to top customers.
MENTIONED IN THIS ARTICLE
Jack Lefler
NEW York
Federal Reserve Board
Federal Reserve
Financial Markets Hold Steady Amid Mixed Economic Signals
Interdealer quotes show mixed mood as a Federal Reserve rate outlook remains uncertain. Analysts cite strong industrial output and rising housing starts while warning higher borrowing costs could slow consumer demand and cap capital outlays, with Nixon fiscal tools eyed to fine tune the economy.
MENTIONED IN THIS ARTICLE
Associated Press
ASO
Interdealer
Mately
Interschah
Aerotron We
Alps Waldenslan
American Fidelity
Atlanta
Federal Reserve
S. Em
Fost Garolina
Frei Carter Ane
Wiel Caroline Bank
Central Vermont
Indivi Fata Jutery Conn Pi
Lowes Companies
Nat. Dev Corp. Ae
NC. National Bank
Cin.c
Northwestern
Philies
Rowe Fum
Ruse Sapret
Security Life & Trust
Triangle Brief
Sheens Federal Reserve
Asvald Wix Corporation
Nixon
Inflation policy and treasury outlook under Nixon era
North American Newspaper Alliance reports bankers anticipate modest inflation under Nixon with elevated deficits. Kennedy backs acceptable deficit while McCracken supports steadier money growth. Underwriters warn of inflation run and bond sales dip as savers face real loss.
MENTIONED IN THIS ARTICLE
New York
Nixon Administration
Treasury
Chicago
David M. Kennedy
Nixon
Paul W. McCracken
Bond
Washington
Causig
A Big Guessing Game Annual Economic Forecast
Gerald M. Loeb surveys annual forecasts and stock market uncertainties. He notes that predicting six months ahead is shaped by investor minds, Moscow decisions, and global events. He explains rising risk with higher prices, ongoing fund delegation, inflation fears, and a fragile balance of profits, taxes, and rates. He argues the U. S. market remains liquid and sensitive to European turmoil and hot money flows.
MENTIONED IN THIS ARTICLE
Gerald M. Loeb
New York
Moscow
London
Paris
Bonn
Manhattan Fund
Bank debits rise in NC centers. Raleigh Falls
Bank debits in most North Carolina reporting centers increased in November from a year earlier with Charlotte and Fayetteville posting strong gains. Greensboro Winston-Salem High Point and Wilmington rose modestly while Durham and Raleigh declined. Also noted: Colonial Stores promote Ray Sexton to metal shop chief at High Point plant and William H. Dougherty Jr. takes executive VP role in new support unit.
MENTIONED IN THIS ARTICLE
North Carolina
Federal Reserve Bank of
Richmond
Fayetteville Standard
Charlotte
SMSA
Asheville
Greensboro - Winston - Salem- High Point
Wilmington
Smsas
Greensboro-Winston-Salem-High Point
Ray Sexton
Colonial Stores
Colonial
High Point
Fox Promoted at Johnson-Carper Furniture Co
Fox Promoted Sarah C. Fox Jr has been elected vice president engineering by the board of directors of Johnson Carper Furniture Co Inc in Roanoke Va Fox has served as chief engineer at Johnson Carper for the past nine years He is a director of the Southern Furniture Manufacturers Association Production and Cost Division and past president of the Western Virginia Chapter of the American Institute of Industrial Engineers.
MENTIONED IN THIS ARTICLE
Sarah C. Fox, Jr
Johnson-Carper Furniture Co., Inc
Roanoke
Fox
Johnson- Carper
Southern Furniture Manufacturers Association
Western Virginia
American Institute of Industrial Engineers
NCNB Announces Major Organizational Changes
North Carolina National Bank disclosed major organizational changes last week including the appointment of two new executive vice presidents. James D. White of Charlotte, formerly senior vice president overseeing NCNB's Western Region, has been promoted to executive vice president in charge of the Western Region.
MENTIONED IN THIS ARTICLE
William H. Dougherty Jr
Charlotte
Senuior
North Carolina National Bank
James D.white
NCNB
United Dairies forms after Guilford and Farmers consolidat ion
United Dairies names three top managers from Greensboro and Winston Salem. Max Hovis elected general manager. W L Hemphill named manager of Finance and Administration. William Thacker appointed manager of procurement and processing.
MENTIONED IN THIS ARTICLE
Greensboro
Winston-Salem
United Dairies
Max Hovis
Gen‘eral
W. L. Hemphill
Guilford Dairy
William Thacker
Also Mentioned on This Page
High Point Enterprise
Commerce, Department
Walter Heller
U.S. Steel Corp
By Lou Schneider
North American Newspaper Alliance
Europe
U. S
Registered Funds “Inc
Phiine
Rudy Edgerton Brossreace Reeacakhtative
Mat. Lewis Supply
Robert A. McCliston
Hight Point Bank
Security Life and Trust Co
Ray Hubbard
Wilson
Kinston
Richmond Reserve Bank
Fifth District
Sexton
Tar Heel
Greensboro Senior High School
Guilford Technical Institute
His Wife
Keogh
Hornblower & Weeks
Jn Hemphill Noyes
New York Stock Exchange
W. Friendly Ave
G. Jones
Res
Mgr
Charles E. Diffendal
David W. Adams Business & Personal Insurance Service
Prudential Insurance Co. of America
Telephone
Sixcte X Reproductions, Inc
E. Westwood
Lane
Jetterson
The
Travelers
Hartford
Conn
John Diffendal
Piedmont Insurance Phone & Realty Company
North Wrenn St
W. High
United Airlines
Farmers Dairy
J. Sturgis May & CO
Mutual Funds
North Carolina Bank
Professional Life Insurance Service
Geo. P. Clark
Hayden Place
Lyon C.L.U
Dodge @ Chrysler
General Motors
Plymouth
Ford
Cali
William H. Bell
Jim Brafford
Chrysler
Piedmont Triad
Horace G. Alderton, Inc
S. Main St
N.C
Ates Ps Ed
Insurance
Trey AU
T. Doobrow
Nsudance CO
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