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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 28, 1971
Page
6
Analysts note the market entered a consolidation phase after a sharp weekly loss. The Dow fell more than nine points on Monday before closing at 878.83, down from 878.56 the prior week. The Associated Press average of 60 stocks edged down to 106.4 from 307.1.
Quotations from the NASD reflect representative interdealer prices around 3 p.m. Thursday. Markets vary through the day with prices excluding retail markups, commissions, and other charges.
Federal authorities took Carl Michael Johnson into custody in Atlanta where he had been working under the alias Steve Brown after fleeing a Charlotte hospital two days after admission for gunshot wounds. He faces unlawful flight charges and is held on a 50 000 bond. He was linked to a 1969 Charlotte robbery and gunfight that led to his wounding.
The Wachovia North Carolina Business Index rose to 112.4 in January, up 1.3 percent from a year earlier, with gains in total nonfarm employment, manufacturing hours, and nondurable goods jobs. Durable goods remained weak as building permits edged down but new car registrations rose 13.6 percent, signaling cautious optimism for 1971.
Ronald W. Jenkins formerly of Asheville has joined Perpetual Savings and Loan in High Point as vice-president and assistant to the president. Announcement by A Scott Parker Jr. details Jenkins's background from Pfeiffer College and the Savings and Loan Institute with prior roles at Asheville Federal Savings and Loan. He has been active in community affairs and will reside at Executive Park Apartments with his wife and son.
Claude Henson, president of First National Bank of Asheboro, is reappointed banking chairman of the North Carolina State Savings Bonds Committee. He is also named again by the American Bankers Assn as its North Coordinator, joining a statewide volunteers group promoting U.S. Savings Bonds.
Lowe's Companies reports for the first six months of fiscal 1971 sales of 73.23 million dollars and net earnings after taxes of 2.59 million, up 24 percent and 21 percent from the prior year. Earnings per share rose to 62 cents from 51 cents. In the three months to January 31, sales rose 26 percent and earnings 22 percent.
A new Wellington Hall Design Center has been opened at Millburn New Jersey, the spokesman for the firm's headquarters announced.
Alexander T. Davison Hills borough secretary of the National Christmas Tree Growers Assn and editor of Christmas Tree Journal will speak at the Piedmont Association of Nurserymen March meeting. He will discuss growing Christmas trees as an adjunct to landscape nursery business. The gathering is at the Mayfair Cafeteria Thomasville on March 2 at 7 p.m.
Rex Plastics Inc of Thom asville reports net sales of 5,884,550 for the year ended Nov 30 up from 4,414,920 the prior year. Net earnings were 117,355 or 50 cents a share versus 178,180 or 51 cents in the previous year.
The board of directors of Indian Head declares quarterly cash dividends of 20 cents a share on common stock 1.125 on Series A 4.50 on Series B preferred stock. Dividends are payable April 1 1971 to stockholders of record March 12.
The Earl of Ypres, grandson of Sir John French, said at a bankruptcy hearing he pawned his forebears medals and field marshal baton to survive. He reported debts of 65988 dollars and assets of 84000 dollars including proceeds from Sir John's war diaries. He blamed business reverses for his financial decline.
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