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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jun 29, 1970
Page
2
A compact notice outlines business and financial matter with minor data lines showing figures 50 4869 and reference to MY-Vo. It notes corporate activity and market context without graphic detail.
The Dow Jones average fell 431 points to 683.53 as traders priced in bank ru ptcy reorganizations at Penn Central and cash concerns across major firms. Losses led by rails, tobacco, drugs, and retail issues with Penn Central among the most active stocks on the Big Board.
In New York on a busy trading day, Zola Corp shows a 23 percent rise with ZenithR noted as 1.40 and a 2 percent change. Market observers track 25 percent inferred activity alongside miscellaneous AP copyright annotations.
R J Ellis of Hampton and James Pharr Jr of Newport News, both 29, faced a drifting, fuel scarce fishing trip 18 miles off the North Carolina Outer Banks. After two days at sea, Coast Guard crews spotted them aboard the Navy LST Wood County and transferred them to a Coast Guard vessel. Both men, Newport News Shipbuilding employees, were returning from a week’s vacation when trouble began after their outboard quit and anchor failed to hold.
House Republican Leader Gerald Ford says inflation may fall to about 5 percent by year end, with prices up 6 percent in the year to May 31. He credits Nixon policies but concedes slower progress and predicts an August or September rally. Opposing views come from Sen. Proxmire and economist Milton Friedman.
AP reports noon trading shows declines across major groups. Industrial shares slip to 41.87 down 0.24, transportation 25.09 down 0.54, utilities 32.70 down 0.05, overall market softness reflected in daily EW YORK index.
The Associated Press compiles stock and bond averages including rails utilities industrials and transportation figures. Notable entries show highs and lows across sectors with details on rail and utility indices and daily percentage changes.
The Long Vek depot reports five days under siege with partial stores removal and AC47 help to break attacks near Siem Reap Angkor while Viet Cong and North Vietnamese press new moves. In Laos Prince Souvanna Phouma cites a slightly more conciliatory Pathet Lao peace offer, tied to a halt of U S bombing but not the Ho Chi Minh trail.
AP North Carolina receives a $50,000 federal grant to develop a regional service plan for deaf blind children in five states. Superintendent Craig Phillips announced the grant to fund a one year study by the Division of Special Education of the Department of Public Instruction. The plan aims to create services in North Carolina and neighboring states including West Virginia Maryland and the District of Columbia potentially forming a permanent regional center.
Lt. Gen. Otto J. Glasser told a House subcommittee that the Air Force could share up to half of Lockheed's projected 647 million loss on the C5 cargo jet and loan the rest. He framed it as cooperation not a bailout and urged Air Force involvement in Lockheed management to keep C5 production alive.
Detroit five men faced arraignment on charges linked to the shooting of three officers after authorities cited a plot to impersonate uniformed patrolmen. Lawrence White Jr. and Michael Anderson were identified as fleeing suspects, while Patrolmen Richard Gordon Norman Sieloff and Chief Inspector Bertoni sustained injuries. Gordon remained in fair condition at a hospital.
An early morning dynamite blast damaged the Harvey Ingham Ball of Science at Drake University in Des Moines. No injuries were reported. 15 to 20 pounds of dynamite were suspected and damage could reach 250000 dollars.
As President Nixon pledges all U.S. troops out of Cambodia, the Senate presses toward a final vote on the Cooper Church amendment to cut off funds after June 30 and debates earlier action while Secretary Rogers says a renewed peace push will follow the withdrawal.
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