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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 17, 1968
Page
6
In New York headlines gold prices slumped as credit tightened by five percent, reaching a historic low in London while the dollar weakened across major markets except Paris. The stock market was ordered closed for the day amid the unsettled trading environment.
Global markets face pressure as the US gold stock sits at 11.4 billion dollars the lowest since 1936. domestic business investment rises 5.8 percent while unemployment edges higher to 3.7 percent in February. Copper talks stall with unions and White House negotiations showing little progress. Automobile production remains strong with weekly output near 182 thousand cars.
The article explains an automated system that uses earnings, dividends and sales estimates to assign security ratings. Analysts and computers influence buy and sell guidance, with the accuracy tied to the quality of input forecasts. Closing prices listed include Nashua Corp Schlumberger J P Morgan and others.
Bullion dealers note the United States holds 30 percent of world gold reserves, a drop from 50 to 60 percent. The shift triggers alarm while the U S remains the dominant single holder. More details are not disclosed in the fragment.
Harris Jr of New England Mutual Life Insurance Co meets underwriters to discuss laws and policy standards. He chairs the Laws Committee of the Association of Life Insurance Companies and leads talks on regulatory matters and industry guidelines.
A pilot representative received one of the field's highest honors for lifelong service. The award highlights outstanding dedication to life member achievements and professional contributions within the organization.
A Friday evening seminar hosted by a local agency drew attendees from the business and EE sectors. Participants discussed short-term goals, networking opportunities, and agency services.
Mrs. Clayton L. Kearns retires from George P. Clark at New England Mutual Life Co. Attendees include W D C and leaders of the National Association of Life Underwriters. The two day session in North Carolina features North Carolina State Association of Life Underwriters representation and a keynote by Edward B. Rust of State Farm.
An AP report describes the New York Federal Reserve Bank vault in the financial district as holding the largest single pile of gold in the free world. The vault stores foreign central bank gold and some U.S. gold, with about 121 bars per vault and more than 100,000 bars overall worth over $1.5 billion.
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