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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 14, 1971
Page
6
President Nixon denounced a voluntary Japanese textile import agreement while banks cut prime lending rates to 5 percent. Chase Manhattan lowered its rate to 4.5 percent as the year’s fifth cut, amid broader economic signals of growth and inflation concerns.
The stock market drifted through the past week with little gain or loss. The Dow Jones index closed at 898.34 on Friday up 0.34 from the prior week, while the AP 60-stock average finished at 313.5, down 0.1. Analysts said investors awaited new developments before deciding to buy or sell.
The Federal Reserve Board is expanding the money supply faster, boosting government demand deposits at FRB banks. If kept through March, the first quarter expansion could exceed a 6 percent annual rate, aided by open market operations in the short term.
Quotations from the NASD reflect representative interdealer prices near 3 p.m. Thursday. Interdealer markets fluctuate during the day, and prices shown exclude retail markups, markdowns or commissions.
January brought a rise in the household furniture industry with shipments up 2 percent and new orders up 9 percent, contrasting January 1970 declines. John M. Snow of the National Association of Furniture Manufacturers cautions continued weaknesses like employment lag and slim order backlogs despite the upbeat start.
The Daily News polled over 23 000 readers with 54 percent favoring Mayor John V Lindsay leaving the Republican party for the Democrats not to pursue the presidency. However 68 percent said he should not run for president. Democrats viewed him as presidential timber more than Republicans.
Joy W. Watson of Snelling and Snelling of High Point reports an improving job market with a bottoming recession and rising help wanted ads. She notes local hiring up and expects continued national pattern, with openings in secretarial clerical and sales, and rising administrative and technical postings.
In Baton Rouge Louisiana The father of fugitive black militant H Rap Brown Eddie C Brown says he cannot locate his son He reports his wife Thelma W Brown died Wednesday of heart ailment at age 59 The militant disappeared last year before his arson and riot trial in Maryland
Dr. Jack Preston of Chemstrand Research will speak on High Temperature Polymers at 8 p.m. Monday in Haworth Hall of Science High Point College. The event covers thermally stable polymers for industrial military and space use with Preston noting advances and examples.
New System Kerux Security Systems announces Protection Systems Inc as distributor for their electronics security systems at Forrest Avenue High Point. Melvin T Lohr Protection Systems president attended a Kerux training at Alexandria Virginia.
John Freeman former British ambassador to Washington is named chairman and chief executive of London Weekend Television. Freeman 56 a founder of LWT has been in the diplomatic service for six years amid the company's recent financial troubles.
Douglas M. Orr retires as general counsel of Burlington Industries Inc and will be succeeded by Robert P. Lynn, a Burlington vice president and associate general counsel. Lewis E. Boroughs becomes associate general counsel after Orr serves as corporate secretary through September and reaches 26 years with the company.
Manager J Ross Burgess of Lowe's Winston-Salem is named regional manager for Lowe's Companies Inc. He will oversee 15 stores across Georgia Alabama Mississippi Florida and Western Tennessee. Dwight Pardue and Albert Plemmons are regional managers for other states.
A reader considers future college costs and explores Integon’s insurance and financial services as a way to prepare for rising education expenses. The note suggests talking with an advisor to plan ahead for tuition and related costs.
Robert F. Goff of Globe Furniture Co. was chosen as a director of the Production and Cost Division of the Southern Furniture Manufacturers Assn. A New Bern native, he graduated from NC State in 1960 and joined Globe in 1967 after time with Baumritter Corp. He and his wife Martha Mote have three children.
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