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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 15, 1950
Page
5
New York stock market suffered its worst beating in over a year with a weekly loss near 1.5 billion dollars. Thursday saw a sharp fall while Friday steadied briefly as late selling trimmed gains. AP 60 average fell to 71.6 from 73, with 14.8 million shares traded in the week.
Stockholders face a vote on ceding control to a one time socialist turned capitalist Max Sherover or keep the blue ribbon board led by James A. Hill. Morris Blumberg profiles as Little Blumberg a potential directorship via cumulative voting amid a debt free turn of fortune and ties to Union era promoters.
The Piedmont Section of the American Association of Textile Chemists and Colorists will hold its winter meeting Saturday January 21 at the Poinsett Hotel Greenville South Carolina. Program includes a 3 pm technical session with papers by Graham Fisher E F Drew and Company Boonton New Jersey on Operating A Piece Goods Dye House and by Dr Ralph Nicholson Monsanto Chemical Company Boston Massachusetts on Resin Finishing Of Cotton Piece Goods. A 7 pm banquet follows with Dr Nichols A Mitchell of
Zanzibar is an island 23 miles off Africa's east coast known as The Isle of Cloves. It yields the bulk of the world's supply of cloves shaping its historic spice trade.
Greenville writer and news commentator will speak on What Can A Man Believe. Chairman Smith asks Section members to reserve banquet seating with the hotel before 3 p.m. on meeting day. About 250 members expected to attend.
The 1951 budget proposed by President Truman would push the United States further into deficit by over 5 billion dollars if approved. It shows a deficit of 5 133 171 372 dollars, about 400 million less than the 1950 estimate, but over 3.3 billion more than actual expenditures in 1949.
Greensboro January report outlines expansions at the School of Fine Arts in Burnsville near Asheville and Burnsville, adding credit courses in art, drama, education, creative writing, and the dance. The six to seven week season runs August 18 with seven drama productions staged in a converted gym theater under Parkway Playhouse.
A long list of unofficial bid and asked prices from the National Association of Securities Dealers and other sources circulates as a guide to approximate sale ranges. The compilation includes Acme Alloys, American Enka, Carolina Telephone, Chase National Bank, Colonial Stores, Foremost Dairies, Irving Trust, Piedmont Aviation, Texiles Inc, and many others with varied percentages noted. The item closes with a note about the largest Easter egg on record, described as 10 feet tall with ponies and a coachman for a Parisian actress.
Closing stock quotations show numerous gains and losses across major firms. Key movers include Alleghany at 374s, Am Can 106, AT&T 146%, Boeing 26, Chrysler 63, Coca Cola 163, General Electric 41, IBM not listed, Lockheed 25, Penn RR 167%, Pepsi Cola 9, Sears 43, US Steel 26, Westinghouse not listed, and Woolworth 49%.
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