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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 08, 1961
Page
2
New York stocks moved in brisk trading with gains or losses of fractions to about a point. Aircraft, rails, and chemicals led slight upside, while Polaroid fell about 2 points and Thiokol rose over a point. Opening blocks list Bethlehem, General Electric, and Pan Am with small changes.
A market scan lists firms with varying percentages from American Tobacco at 71 percent to Woolworth at 69 percent. Notable names include Bethlehem Steel 44, Dow Chemical 7649, General Motors 43, and U S Steel 827s, reflecting a broad mix of industrials, consumer goods, and utilities in the session.
The Dow Jones averages show a mixed close with Industrials at 643.04 and rails at 141.66. Utilities and other sectors list varied values amid a wide trading volume of around 4 million shares.
New York AP reports cotton futures opened up five to twenty five cents per bale as trading began. The rise reflects cautious activity in the market with investors watching for supply and demand signals.
President Kennedy and aides push back on claims of a missile gap amid reports of incomplete Defense Department studies. Pierre Salinger denies the reports while Kennedy says he hopes for a clearer answer as McNamara notes no conclusive study. Republicans demand apology to Eisenhower regarding the missile gap charge.
A reader seeks guidance on selling holdings and dabbling in new stocks. The advisor cautions against risky speculation and favors sticking with solid growth and income stocks. The column rebuts a mutual fund plus insurance loan strategy and suggests using funds for investment while keeping insurance separate.
Attorney General Manningham-Buller told the magistrate five suspects in a cottage case may face espionage charges. Authorities said a powerful shortwave transmitter and receiver were used to contact a Moscow spymaster, with devices including microdots and a microscope to read microdot documents found in the kitchen area.
Kennedy says NATO nuclear arms are a central issue, supports desegregation court rulings, and backs a child health center. He criticizes slow research into mental retardation and congenital malformations, hints at April economic review, and notes uncertainty over a tax cut until economy clearer. He plans to address New Orleans when useful.
Secretary of the Interior Udall denied contacting Rep. Lennon prior to a House Rules Committee enlargement vote. He said he called several members, saw no impropriety, and Lennon voted against increasing the committee size. Udall also denied discussing Wrightsville Beach saline water project review with Lennon.
A prolonged cold wave on the eastern seaboard pushes up home heating fuel costs as extra deliveries and snowbound conditions raise transport costs. No 2 fuel oil rises to 15.5 cents per gallon and kerosene to 16.4 cents. increases follow Mobil Esso Standard and Sinclair moves with Texaco managers applying pricing.
The city of Wabash Indiana earned the distinction of being the first in the world to be illuminated by electric light, marking a historic milestone in urban electrification.
In wintry Chapel Hill a UNC faculty team outpaced newspapermen in a tag license plate change duel. Prof E C Markham and Dean E C Brecht posted 23.4 seconds, Chancellor William B Aycock with Prof A M Jordan 59 seconds, and Jim Shumaker with J A C Dunn 1 minute 20 seconds.
In Baltimore AP report, Melvin Davis Rees Jr. faces kidnapping charges connected to Mildred Jackson and her daughter Susan with a Virginia murder count also tied to the case. Key witness Pat Routt was due to testify but illness delayed proceedings.
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