Stock market drifts with slim gains ahead of oil meeting
The Dow Jones average rose 0.47 to 625.09 at noon as volume stayed light and advances led declines 3 to 2 on the NYSE. Investors awaited next week's Arab oil producers meeting over the embargo, while Kodak and Dow Chemical fell and Disney rose. GM climbed and Chrysler edged up as Amex listed Frigitronic gains. An investigation into last month's Mountain Fuel stock trades is under way.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Larry Wachtel
Bache & Co
American Stock Exchange
Eastman Kodak
Dow Chemical
Walt Disney Productions
UAL
Chrysler
Frigitronic
New York Stock Exchange Prices Briefed
The New York Stock Exchange announced selected price data and market updates. Details on notable trades and index movements were provided by AP sourcing, reflecting a snapshot of early trading activity.
Market Prices and Stock Notes From New York Exchange
American Exchange listed noon prices showing Indian stocks, oil and chemical companies, utilities and retailers with highs lows and last figures. The sheet includes abbreviations and explanations for dividends, stock rights, ex dividend status, and other trading notes from AP 1974 records.
Senate debates energy bill with price rollback plan
The Senate opens debate on a controversial emergency energy bill adding an oil price rollback opposed by the administration. House-Senate conference language would grant Nixon power to order rationing. Critics warn of a near-certain fight before Lincoln Day recess. Amerada Hess reports sharp earnings gains in 1973. Maryland adopts gasoline rationing, with Oregon Hawaii and Massachusetts already in use.
MENTIONED IN THIS ARTICLE
Washington
Senate
Henry M. Jackson
D-Wash
Senate House
Nixon
White House
Congress
Jackson
Federal Energy
William E. Simon
United States
Amerada Hess Corp
Maryland
Oregon
Hawaii
Massachusetts
Truckers reach tentative deal after four day talks
Milton J. Shapp and W. J. Usery Jr led a negotiated agreement with truckers aimed at letting independent owner operators return to work. Pittsburgh steel haulers spokesman William Hill backed the plan and urged calm while talks continued. The coalition, claiming 18 associations and 150,000 to 300,000 drivers, tested the deal after rejecting the president's diesel price freeze and urging a nationwide stoppage until the accord is ratified.
MENTIONED IN THIS ARTICLE
Milton J. Shapp
W. J. Usery Jr
Usery
Shapp
William Hill
Pittsburgh
Ail
Nixon
NASD Quotation Snapshot Inter-Dealer Prices
Quotations from the NASD reflect representative inter-dealer prices as of about 1 a.m. Markets fluctuate during the day and prices exclude retail markups or commissions. Data provided through E. F. Hutton & Co High Point office.
MENTIONED IN THIS ARTICLE
High Point
E. F. Hutton & Co, Inc
Dollar Will Pass Oil Import Test
In the national economic report President Nixon cites a $15.7 billion rise in the oil import bill for 1974, with total oil-import value up $73.8 billion across major nations. The Council on International Economic Policy says the dollar will withstand the strain though the trade balance may worsen. Peter Flanigan notes aid to poorer nations.
MENTIONED IN THIS ARTICLE
Bill Neikirk
Associated Press
Washington
Nison
Nixon
Council On International Economic Policy
U.S
United States
Council
Flanigan
Congress
Nixon cites executive privilege in short letter to Gesell
President Nixon submits a five paragraph letter to U S District Judge Gerhard Gesell arguing the court lacks power to resolve the dispute over withholding White House tapes from the Senate Watergate committee. He asserts executive privilege for all five tapes, saying disclosure could hinder future prosecutions and the public interest. The letter follows Gesell’s January order calling prior privilege claims too general.
MENTIONED IN THIS ARTICLE
Donald M. Rothberg
Associated Press
Washington (Ap
Nixon
White House
Senate Watergate Committee
U.S
Gerhard A. Gesell
Gesell
Maravich Reinstated by Hawks After Suspension
Atlanta Hawks coach Catton Fitzsimmons reinstated Pete Maravich, the NBA’s second leading scorer, after a two day suspension. The 25 year old averaging 28.3 points per game met with Fitzsimmons for 45 minutes in a closed door session above Morehouse College gym. Maravich will join the team in Philadelphia Friday night.
MENTIONED IN THIS ARTICLE
Atlanta, Ga
Atlanta Hawks
Catton Fitzsimmons
Pete Maravich
National Basketball Association
Maravich
Fitzsimmons
Pete
Philadelphia
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