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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 18, 1959
Page
5
Merchants announce a Washington Birthday sale with items like televisions for $1.98 and coats for 99 cents set for February 21 in High Point. Local promotions echo national growth as shoppers flock to big-ticket deals and new retail arrivals.
A compilation of bid and asked prices from sources including the National Association of Security Dealers. The data are unofficial and intended as approximate ranges for potential sale or purchase, with numerous firm names and percent ranges listed across multiple industries and companies.
New York AP reports the stock market posted a seventh consecutive weekly advance with record highs despite selling. Volume surged to 21,015,808 shares the heaviest week since October and the Associated Press average rose to 219.30 while the Dow closed at 595.75.
Alderman Studios unveils a Furniture Division led by Robert B. Hoskins to serve furniture makers and textile product manufacturers. A second Diversified Division is directed by Thornton O. Charnock, with J. I. Groome coordinating sales and development.
North Carolina nonagricultural employment rose by 1 900 in December to 1 095 000, aided by seasonal gains in retail trade and post offices. Retail trade up 9 600 and post offices 2 200. textiles and tobacco suffered declines with textiles down 1 000 and tobacco down 3 100, offset partly by gains in hosiery and fabrics.
New York AP report shows corporate and US government bonds closing lower after Treasury financing. Investment quality corporates and utilities fall, while industrials and rails edge higher but fail to offset declines. Trading volume on the NYSE reaches 38.405 million dollars, with yields on new 21 year 4s rising about .20 to .22 percent over long term government issues.
European automakers forecast U S demand for imported small cars to keep rising with 500000 foreign built units expected to be sold in the United States this year. At Chicago’s 51st auto show more than 30 makes of imports drawn high interest, led by Renault aiming for 100000 sales and Volkswagen ahead of Renault with about 25,000 more than Renault.
Charlotte Raleigh New York City reference lists Chas E Diffendal Jr with a telephone contact 28531 at High Point North Carolina area details.
Sen. B Everett Jordan proposes raising outside income limits for Social Security recipients from 100 to 150 dollars per month and 1200 to 1800 dollars yearly. He argues current rules impose hardship on thousands of seniors, leaving many near pauper levels.
The report indicates 462000 workers employed in state factories with average hourly earnings totaling 4 100. The data reflects a decline from prior figures and notes the total payroll at the end of the period.
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