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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jun 27, 1972
Page
2
Trading slows on Wall Street as the Dow slips 1.21 to 935.20 at noon while the AP 60 declines 0.4 to 323. Investors await clearer signals after Britain floats the pound and the Smithsonian Accord gains tentative support.
The NASD bid asked quotations are represented in the document from the Office of R S Dickson Powell. The report details stock quotation practice and listing standards as observed in the period.
Betsy LeBrun has joined the sales staff of Malpass Realty Co. Welborn Malpass, president, announced. A native of High Point she has completed studies in real estate and is a licensed North Carolina broker. She and her daughter live on Hempshire Court.
The noon reading shows minor gains and losses across key listings with small changes in share prices. The overall market tone remains cautious as investors digest mixed economic signals and corporate results.
The platform calls for an immediate and complete withdrawal of all U.S. forces in Indochina and states the U.S. will no longer seek to determine the nations there. It argues a substantial military budget reduction without weakening national security and rejects a Wallace plank on racial balance.
Martinsville based American Furniture reports increased sales and earnings for the second quarter and the first half ending June 3 1972. Q2 earnings 744 331 dollars or 26.4 cents per share on 12 138 211 in sales, up from 1971. First six months 1972 earnings 1 129 975 dollars or 40 cents per share on 23 254 496 in sales, up from 597 661 dollars or 21 cents per share on 16 780 625 in 1971. Backlog remains solid says president Richard M Simmons Jr.
Martha Mitchell, wife of former Attorney General John Mitchell, says she has left her husband until he quits as head of the Nixon re election campaign. She calls herself a political prisoner and says she is being kept out of the spotlight. No comments from Mitchell or the White House.
Sen. George McGovern signals changes to his welfare reform idea as he camps in Oklahoma City and Texas. He says 80 percent would get a tax break under a revised plan while 20 percent, especially those earning over $30,000, would pay more. He offered no specifics, noting wrinkles to be worked out amid delegate counts and a South tour.
Indian authorities recovered the submachine gun used in the American Airlines jet hijacking and $500000 in ransom from a soybean field. The search for the young hijacker with pock marked face and open sores continues as officers doubt he survived parachuting from the plane. Farmer Lowell Elliott found the sealed canvas bag with the ransom money buried about 250 feet from a county road.
Rocky Mount businessman Jim Gardner reports spending $258163.31 and receiving $258821.31 in his unsuccessful bid for the Republican nomination for governor. The late report, filed with Secretary Thad Eure, covers the period after the June 3 runoff primary. Largest donation was $10000 from W E Dansey of Greenville. John Hutchins of High Point contributed $4000. Jim Holshouser, winner of the GOP gubernatorial nomination, spent $129829.90 and took in $83460.09.
The British pound slid to 2.48 dollars after the London FX market opened following last Friday's decision to let the currency float. Dealers saw busy inquiries with little trading and expect clarity by Wednesday as continental exchanges reopen. Gold price set at 62.30 dollars per ounce, and the dollar rose against Swiss francs and marks amid renewed volatility.
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