Market faces rest after February sharp run
The brokers note February 1 marks a reactionary market history with a rest after a big advance. Gavense is cited as a county figure amid scattered references in the report.
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 01, 1967
Page
2
The brokers note February 1 marks a reactionary market history with a rest after a big advance. Gavense is cited as a county figure amid scattered references in the report.
New York AP reports cotton futures at mixed quotes with no trades executed. Prices shown include nearby and delayed figures such as 21.35 21.30 and 22.70 22.70 amid general quiet in the market.
Noon NYSE index report from AP is garbled with repeated text and lacks clear data. No readable values, company names, or figures are present to summarize.
American Motors Corp. reported an $8.46 million net loss for the October-December quarter, versus a $4.20 million profit a year earlier, with 99,566 cars sold from the firm’s wide range. The release preceded the annual stockholder meeting as Ford and Chrysler were due to disclose results.
North Carolina and South Carolina forecast variable clouds and warmer conditions with scattered showers mainly in the west. Lows mainly 40s in the mountains and 50s elsewhere. Highs Thursday cools in the mountains near 70 on the south coast. overall temps near normal Thursday through Monday with rain or showers Thursday ending Friday.
Blue Bell Inc. reports a 3 percent fall in sales for the quarter ended Dec 31 from 25 542 to 24 835 130. E A Morris chair says first fiscal year shows a loss after several years of gains. The firm applied for listing on the New York Stock Exchange with a tentative March 1 date for trading and Feb 17 deemed record date.
B H Burton has been named warehouse manager of Covert & Textile Co Inc announced by owner J L Covert. Burton previously worked for the Insurance Company of Virginia and has several years of furniture manufacturing experience in the area. The change became effective today.
Paul Kissick, a 92 year old resident of a Phenix City nursing home, claims he stays youthful by headstands and counting to 110 each night. He says he hasn't been sick in 12 years since a flu bug and claims no aching joints.
Communist ground fire disabled one C123 Provider and damaged another as U S planes conducted jungle defoliation missions along the Ho Chi Minh trail. A second incident saw a Marine A6 Intruder drop bombs by mistake on a Marine position. Heavy fog limited raids over North Vietnam to 39 missions.
Hinsdale, Ill AP reports Dr. Charles L. Dale says emotional factors help explain why more women quit smoking than men after one year in Hinsdale sanitarium clinics. Of 1,002 quitters, 37.9 percent of men remained cigarette free, while all but 29.4 percent of women did. Clinics use five nightly sessions with demonstrations and a buddy system for moral support.
The Associated Press reports another heavy snowstorm with winds up to 40 mph threatening Chicago which is still digging out from last Thursday's 23 inch storm. The city faces disruption as snowfall exceeds 6 inches along a broad strip from the Rockies to the Great Lakes. Chicago business losses are estimated around 150 million dollars with higher totals possible.
General Motors reported 1966 profits of 1.793 billion dollars, down from 2.126 billion in 1965, as sales slipped nearly 500 million. Fourth quarter profits were 553 million dollars, or 1.93 per share, versus 587 million or 2.05 in 1965. Ford and Chrysler figures awaited. American Motors to disclose at its stockholders meeting.
Injured were taken to two Columbia hospitals with four later transferred to Ft Jackson base hospital. Bus driver Marvin Rices of Columbia was not critically hurt. Tractor trailer driver Donald Goan of Morristown Tennessee escaped with injuries. Goan said a car swerved, causing a glancing blow that crossed the median and damaged a wire fence. He aided injured in the other vehicle and checked on a cold girl before resuming duties.
Ford Motor Co recalls 1900 F250 four wheel drive trucks to inspect 15 units for defective front axle spindles. The company says a supplier used improper steel for some spindles but did not name the supplier.
Former adviser warns gradual U S withdrawal would alarm nearby powers and urges long term restraint. He faults early support for French colonial efforts, notes Geneva split as face saving, and criticizes bombing North Vietnam as pushing talks further away.
He noted the Apollo craft is a twin shelled vehicle with inner and outer compartments. A single section hatch might create a weak spot that could collapse under heat and friction. Astronauts begin re entry at 17,500 miles per hour and return from the moon at 24,500 mph.
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