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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 07, 1963
Page
2
Unofficial bid and asked prices from NASD and other sources guide ranges where securities could have been held or bought at compilation date. Origins of quotations available on request.
The market rallied on GM's special dividend with auto issues leading gains while bonds and utilities rose. mixed tape across NYSE and AMEX with several firms posting fractional advances and declines. Police dispersed demonstrators and a separate note described tense city actions and a planned stadium funding bill.
Hugh Cannon of the State Department of Administration told a committee a national foundation will provide 1 25 million dollars on a matching basis over five years for a proposed performing arts school. He noted no such school exists in the south. The Education Committee also debated aiding private college tuition but adjourned without action on the measure backed by Gov. Sanford.
The Birmingham News urged President Kennedy to end racial demonstrations in Birmingham saying the city faces risk of grave injury or death. It cited about 2,400 arrests since April 3 and noted use of fire hoses and police dogs to break up crowds while urging courtly resolution. The publisher Clarence B. Hanson Jr. backed legal settlement.
Mrs. Cain, wife of a soldier stationed in Germany, appeals for Army assistance after learning her husband is missing and believed in East Germany. She questions why notification came late and asks who can help her with three children and limited funds. She notes he left for a six month tour ending next March and that a May 4 telegram marked him as absent without leave.
In Charlotte authorities search for Agnes Stewart 40 wife of Jack Stewart who vanished from High Point over two months ago. James Stewart a carpenter said he believes she may be in Charlotte after tips from people she knows. Jean Stewart, her sister, notes she stopped writing and family finds the disappearance uncharacteristic.
The meeting discusses county boards may name precinct officials from recommendations and Republicans claim their judge recommendations are ignored in some counties. Also under review are bills to settle tie actions by lot and to drop the royalty oath for changing party affiliation on registration. The existing law requires a voter switching parties to swear support for the new party’s nominees.
Washington AP report on proposed IRS rules separating business from pleasure in entertainment. Industry voices clash with regulators over deductibility of meals, yachts, and venues. Critics call rules vague and fear a tax revolt era backlash. supporters urge clarity and normal business expense treatment.
A series of property transfers are recorded including L R McMahan to Southern Motors on a R T Lambeth Estate lot and Highway 29 70 parcels, Willard Marsh to Southern Motors two Dave Baker lots, and multiple transfers to Wachovia Bank, Bill L Minor, Globe Furniture, Jerry Darnell, Southern Broadcasters, Oak View Estates, and Wendover Hills No 2 among others.
Telstar 2 launched on schedule and achieved all stages with a long planned orbit. Officials noted dramatic deep space reach and aimed to extend US Europe TV transmissions while testing new design changes to reduce prior damage.
The session shows industrials at 709.83 rising to 713.77 with 1.08 million shares traded. Utilities core quotes 199.46 and 199.40 while listed volumes reach 4.09 million. Overall market activity reflects a busy midday trading period with varied gains across sectors.
North Carolina and the Council of State accept a $10,000 settlement to drop a claim to 165 acres of Hell and Purgatory in Onslow County. The money goes to William Ragsdale Jr. as assignor in a dispute with Warren Smith over ownership of the swampy tract, while the state gains a tract on the Outer Banks deemed heaven by some.
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