Margin cut lights up markets amid auto and airline cutbacks
The Federal Reserve slashed stock margin requirements from 65 to 50 percent, hoping to revive a sagging market. The Dow jumped 25.37 points to 880.69 as bets rose on Nixon oil talks. U.S. automakers lower January targets, while airlines ground several Boeing 747s due to fuel shortages. GM, Ford, Chrysler, and AMC report varied production changes. Continental Airlines plans to retire all four 747s, with others following reduced fleets.
MENTIONED IN THIS ARTICLE
American Motors
AMC
Ford
Chrysler
American Airlines
Trans World Airlines
American
TWA
Continental Airlines
Old Wells Now Seen Profitable
New Orleans AP report notes energy shortages trigger a revaluation of dormant and abandoned wells. Shell Oil vice president Ray O'Brien says higher crude prices prompt renewed exploration and reactivation of idle wells, with existing wells being worked over and new equipment installed.
MENTIONED IN THIS ARTICLE
Eric Newhouse
Associated Press
New Orleans
Gilmen
Cost of
Shell Oil Co
Market Gains as Indexes Climb in Opening Week
The Dow Jones average closed at 880.23 Friday, up 32.21 from the prior week, while the Associated Press average finished at 300.8, up 13.4. Analysts credited the rally to the Federal Reserve Board cutting cash down payments for stock purchases.
MENTIONED IN THIS ARTICLE
Associated Press
Federal Reserve Board
Bassett names Bohler VP of sales and reshuffles units
Bassett Upholstery Division appoints Alan Bohler as vice president and director of sales. Bohler, based in Newton, NC, has career ties including Alderman Studios and Bassett roles. Also cited are Globe Industries appointing Carrie Oldham Jr as general manager in Raleigh, and two Credit Bureau of High Point employees receiving merit certificates. BankAmerica acquisition of BAC Finance is noted along with Fifth District loan movements from the Federal Reserve weekly survey.
MENTIONED IN THIS ARTICLE
Robert H. Spilman
Bassett Furniture Industries, Inc
Alan Bohler
Bassett
Newton
Conover
Taylorsville
N.C
Dumas, Ark
Alderman Studios
Chicago
Bassett Furniture Industries
Collinsville
Carrie S. Oldham Jr
Raleigh
Globe Industries, Inc
Raleigh-Durham
Oldham
Diane West
High Point
Credit Bureau of
Associated Credit Bureaus, Inc
Myron Yakley
Marguerite Hubbard
Also Mentioned on This Page
Stephen H. Miller
AP Business News
New York
Paul Kolton
American Stock Exchange
Henry Kissinger
Nixon
Dow Jones Industrial
Erage
Middle East
Detroit
General Motors
National Association of Securities Dealers
Aeratron
American Furniture
Atlanta
Gas Light Atlantic
Pepsi Cola
SM Am Bancshares
Bankers Trust
Bassett Furniture
Beaman
Black Inds
Branch
Bank & Trust Na
Stenner Inds
Burkyarns da Be Burnup & Sims
Burks Inds
CMC Finance A
Cameron Financial
Cannon Mills
Carmine Foods
Carolina Cas
Ins
Bia
Carolina P&l
Caro
State Bank
Carolina Steel
Carolina Wise Flo
Caro Carp
Wea
Daniel Internat
Diamondhead Corp
Durham Life Ins
Paso Electric Wieve Engraph Inc
Farmers New Wid Life
Fidelity Corp of
Fmic Corp Ny Ae First Cit Bank& Trust
Forsyth Bk& Tr
Franklin Life Ins
Guardian Corp
Oye Harrelson Rubber Heilig Meyers Ive
Henredon Furniture
Atral Hickory Furniture Dig Hoover Co
Investment Life & Tr
J.B. Ivey
Jacks
Kenan Transport
Wea Lance Inc
Leggett & Platt
Liberty Bank & Trust
None Life Assurance of
Cara
Little Mint
Lowe's
Mack’‘s
Multimedia
Ncnb Corp
NC Natural Gas
Northwest Finn Corp Va
Nowestn
Wis
Southern Nat Corp
Occidental Life Ins
Southern Nat
Oakwood Homes
Spartan Food Systems
Pan N Save
Wa Synercon Corp
Peoples Bank of
Rocky Mt
Televent Leasing
DA Piedmont Aviation
Textiles, Inc
Piedmont Real Estate aMae Thalhimer Bros
Virginia Nail. Bank
Sam Soloman
Virginia Savshares
Sea Pines Ta
Blir
DOW Jones
Kel
Thur
Eetenteet Jasond
Aeandelendeins Jemam J
Allstate Leasing & Acceptance Corporation
T.M. Allstate Leasing & Acceptance Corporation
No. Carolina
No. Carolina Corporation
State Leasings& Acceptance, Corp
Ray Hubbard
Bohler
Guilford College
BAC Finance, Inc
BankAmerica Corporation
BAC
Bank of America Nt&sa
San Francisco
Bank of America
California
GAC
Federal Reserve Bank of Richmond
Fifth Federal Reserve District
Bonnie Horney
West High Street
Robert McCuiston
GLA
Timothy R. Yates
Integon
S. Hamilton St
F.c.1.c
First-Citizens Bank & Thugt Company
Federal Deposit Insurance Corporation
First Citizens
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