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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Dec 31, 1971
Page
2
Wall Street opened dull as the Dow rose 1.73 to 890.80 at noon. Advances beat declines on the NYSE by about six to five with mixed results across sectors. First National City Bank cut its base lending rate to 5 percent while West Coast banks trimmed to 5 percent.
New York stock prices shift through the afternoon with varied results for major names. Coca Cola Colgate Palmolive and IBM show moderate gains while Dow components like General Electric and Boeing edge higher, others dip as trading momentum shifts.
A garbled list outlines stock exchange terms including ex dividend ex distribution ex rights and warrants with notes on bankruptcy and foreign issues subject to an interest equalization tax. The readable items reference ex dividend rights warrants and notations about dissolution and reorganizations under bankruptcy laws.
Charlotte outlets including restaurants lounges hotels and motels report heavy reservations for New Year's Eve with most venues booked solid or near capacity in the bustling city.
The index figures show gains in the industrials and utilities while transportation and bonds moved modestly. Traders watched small shifts across sectors as prices fluctuated in a quiet session.
AP reports noon values from the New York Stock Exchange with intraday figures for major groups. The industrial, transportation, and fineness sectors show modest shifts while the overall index sits just above 56.39 with a slight decline.
Burlington Industries, the nation’s largest textile firm, reports a difficult 1971 with sales of 1.7 billion dollars, down 5.2 percent from 1970, and net income of 40.1 million dollars or 1.52 per share, down 44 percent. The dividend remains 1.40 a share. Steps are under way to offset sales and earnings declines and to strengthen competitive position, with a more favorable 1972 expected.
Officers investigated a shooting that left Peter Deuel dead but found no charge against a questioned woman, with detectives visiting the residence after an anonymous tip. Deuel, known for his role as Hannibal Hayes in ABC’s western series The High Chaparral, was born in Rochester and studied English drama and psychology at St Lawrence University. He had prior TV credits including The Fugitive The Bold Ones Combat and Name of the Game.
Vietnam era analysis warns that Long Cheng serves as a semi secret base for Gen. Vang Pao's CIA backed guerrilla army making the location extremely exposed. If Long Cheng falls, enemy forces could advance toward Vientiane the capital.
The Nixon administration aims to make 1972 the costliest year for farm subsidies to curb surpluses and farmer discontent. Projections indicate total farm program spending could exceed 4 billion dollars, driven by subsidies and price supports in the face of declining farm income.
The article recounts a veteran’s testimony about atrocities by Tiger Force in Vietnam, his desertion to Canada, a Vancouver antiwar protest, and subsequent capture by the FBI. He fled to France, expresses shame and fear, and questions returning home as he grapples with the war’s impact.
U Thant received a warm sendoff at the United Nations as he left after a decade as secretary general. He spoke of optimism for the UN's future, noted potential difficulties, and said global unity is nearly achieved. He plans to devote life to UN ideals.
A state health official reports about 250 Robeson County residents with flu symptoms and says tests in the county lab should identify the type within two weeks. Orange County also reports a few cases as Hong Kong flu is suspected nationwide.
Reporters say Rocky Mount businessman Jim Gardner plans a mid January announcement as a Republican gubernatorial candidate. Gardner almost beat Gov. Bob Scott four years ago and would challenge Jim Holshouser, the lone Republican contender at that time. Gardner did not comment.
AP corrects a Dec 11 gas explosion report in a new water tunnel near Port Huron Michigan. The contract for the $13 million tunnel was awarded to Greenfield and Associates on July 1 1968 and the firm remains the contractor, not dismissed for unsatisfactory performance.
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