Connally Says No New Taxes Will Be Sought
Nixon officials deny plans for a tax increase despite a large projected 1973 deficit. Connally testified to the Ways and Means Committee while Shultz warned against tax hikes.
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 06, 1972
Page
6
Nixon officials deny plans for a tax increase despite a large projected 1973 deficit. Connally testified to the Ways and Means Committee while Shultz warned against tax hikes.
The Associated Press average of 60 stocks ends Friday at 330.0, down 1.2 from last week, while the Dow Jones 30 advances to 906.68 up 0.30 for the week. Analysts cite a dip in January unemployment and rising corporate earnings as factors.
New York investment managers warn Nixon reelection uncertainty could upset markets in 1972. They recall Dewey Truman odds, doubt public relations claims, and doubt Phase 2 wage price controls. They expect GNP gains around 85 billion with unemployment near 5.5 percent.
UNC television will present a series of programs beginning February 8 to outline industry requirements under the 1970 Occupational Safety and Health Act. The shows air on all university stations February 8, 9, 15, 16 at 4 p.m. and 8 p.m. February 22 and 9 p.m. February 29.
Ray B. Wesson opens Wes son Insurance Service Inc a full service agency serving personal commercial and industrial needs. Wesson moved to High Point in 1959 joining Wachovia then Allen B Welborn before forming his own firm. The article notes regional banking data and record savings in North Carolina during 1971.
The U S Savings Bonds program posted its strongest peace time year in North Carolina in 1971 with E and H bond sales totaling 75 224 692 up 17 6 percent from 1970 and reaching 118 2 percent of the state quota. Series E sales reached 73 907 692 up 16 7 percent. Mecklenburg led counties at 9 371 943 followed by Guilford 7 119 555 Forsyth 5 809 865 and Wake 4 884 929.
The Federal Home Loan Bank of Atlanta notes that 1971 was by far the best year to date for North Carolina savings and loan institutions in terms of growth and financial performance.
PPG Industries announces 1971 operating earnings after taxes before extraordinary items of 63.2 million dollars or 3.07 a share, more than double 1970. Sales reach 1.24 billion dollars, up 13 percent from 1.09 billion. Income taxes total 35.2 million, vs 26.8 million in 1970.
Lyles Chevrolet Co. chief George W. Lyles Jr. of this city is named chairman of the 1973 National Dealer Council in Detroit. He was appointed to the council this year by Chevrolet dealers of the Southeast and will serve a two year term.
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