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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jul 13, 1958
Page
5
Retail furniture sales improve as Exposition Building reports brighter outlook all along the furniture industry with inventory reorders and strong hosiery demand. Weather and crop prospects lift non industrial areas, while NC labor officials expand the manufacturing directory and a Tomlinson plant graduation draws dignitaries.
Unofficial bid and asked prices guide from the National Association of Security Dealers. The note explains origins and that figures are not actual transactions. It cites Ecuador as the top banana exporter in 1955 with 40,000,000 stems and notes 2,500 US automobile makes since inception.
Malcolm G. Moore of High Point is named a registered sales representative with J Strugis May Co. He began duties last week at the firm occupying the Security National Bank building. Moore previously spent 24 years with Mendenhall Moore, retiring March 31.
On the New York Stock Exchange small railroad bonds from 1887 and other minor lines trade at high prices. Bonds like the Kentucky Central a first mortgage 4 percent issue are active though the roads have little physical assets. Other issuers include the Atlanta and Charlotte Air Line Railway and the Little Miami line with 3 percent first mortgages. The market reflects these lines as important links in larger railroad systems.
The New York stock market faced a blend of good and bad news but rose to new highs for 1958. The Dow Jones average reached 482.85, and the Dow Jones industrials posted a 58 high as the market gained on the final session amid solid volume of about 2.4 million shares.
U S government bonds fell again last week despite a rally tied to news the treasury was buying. Corporate bonds were mixed with modest price moves while quality domestic issues declined and convertible bonds rose with stock gains. Trading activity increased on the NYSE, and new financing remained a heavy factor. Idaho dental applicants tested their skills on inmates at the state prison.
A High Point grocer, blind for 20 years, expanding from a filling station to a modern Broad Street market, credits persistent newspaper ads with boosting annual sales by over 100000 dollars for five straight years. The July issue of Business Building Bulletin outlines his approach, emphasizing price appeal, unchanging emblem branding, and local reach through The Enterprise.
Carolina Power and Light Co. celebrates 50 years of service from 1,500 customers to 403,000 and area grown from three towns to 30,000 square miles. The 1950s era expansions include Mt Misery plant near Wilmington and new units in Wilmington, Goldsboro, Lumberton and Cape Fear.
The firm notes that holders are residents of the two states and the company employs 2,134 persons.
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