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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 15, 1976
Page
9
AP Business Analyst notes Commerce Department survey shows no planned increase in capital spending on production machinery and plants. Executives publicly tout better prospects while privately delaying investment, though analysts suspect later data would reveal a more positive view as conditions evolve.
The text notes brighter retail sales and lower inflation as interest rates drop and business activity strengthens. It argues cautious spending until consumers show a clearer pattern, suggesting the 1976 capital projection of 119.68 billion may be influenced by these evolved signals and cautious optimism.
About 40 000 pounds of marijuana were burned in the blast furnace of Georgetown Steel Corp by federal and local officers. The marijuana arrived from Bayboro on an 18 wheel semi and was incinerated in seconds at 7500 degrees. Nine people were arrested with more expected. the ship Lillian a 105 foot fishing trawler carried the cargo. Officials said the value could reach 25 million dollars.
Democratic candidate Terry Sanford returning to Durham to enter Duke University Medical Center for a few days rest after chest pain prompted hospitalization in Salem Massachusetts. Sanford plans to appear on Meet the Press from Washington and campaign in New Hampshire as primary day approaches. Financial filings show 1975 expenses surpassing receipts with significant federal matching funds anticipated. A separate item notes Spec. 5 Walter Robinson attempting a fiberglass ski across the Hudson River but blocked by thick ice.
Nine men including John David Steele, former Hallandale mayor, faced a hearing before U S Magistrate Charles McCotter on probable cause to bind them to a federal grand jury after a raid on the Lillian B off Bayboro in Pamlico County that yielded 25 tons of Colombian marijuana. The drug could fetch about 25 million dollars. most was burned at Georgetown Steel in Washington D C, with some kept for evidence. Others arrested included Steele’s son and seven Bayboro residents plus out-of-town suspects from Florida and Georgia.
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