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High Point Enterprise in High Point, North Carolina

07 May 1971

Page 2

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This newspaper page contains 15 articles. Subscribers can read the full text of each article.

Newspaper

High Point Enterprise

Location

High Point, North Carolina, United States of America

Date

May 07, 1971

Page

2

Market Drop Reflects International Crisis Worries

New York stocks fell as investor caution rose after European central banks withdrew dollar support. The Dow 30 slipped 4.77 to 932.62 while the AP 60-stock average dropped to 327.5. Losses hit motors, metals, rails, oils, and glamour stocks amid rising jobless rate to 6.1 percent. Lockheed fell ½, Nixon loan guarantees discussed, and Control Data dropped.

MENTIONED IN THIS ARTICLE

NEW York New York Stock Exchange U.S News Today Lockheed Nixon Congress Associated Press Teledyne Union Corp Kentucky Fried Chicken American Stock Exchange American Finance Terminal Hudson Ecological Science Empire Financial ChiMil Spp Mead Corp Ichipneut Welv Chris Craft Wemorex Cp Chrysir Merck Aerojet Scacna Va Mobili Se AO Collins Rad Mohas Vel Ark Best Va Coloinist Monsant Ark L.gas Ye Cbs A MontOnt Asamera Oil Colu Gas Mla Ve Mont Pw Atlas Cp Combe MorNor NatAirin Conti Corp Dixilyn Corp Contrel Ecologic Sci Cooperin Nat Steel Essex Hem Vv Silva SM Cowles Com Weuee Cox Felmont CPC Frontier Air Crouse Hind Ve Ning MP Gen Plywood Ae Norfolk Norris Ind Cudahy impriOil Dan River Renee Instrum Sys Os Jetronic Kin Ark Corp Kingsford Ar Ve Okla Ngs Arene la Radio Olin Corp Lee Ent Diam Sham Omarkin We — Dillon Co Otis Elev Disney Marshal Ind Va Diversind McCrory Owen DowChm Milgo Elect Na Dressini Pacgel Newldria Mn Duke Pw Pac Lig duPont PacPetri NewPark Mn Pacpwl Nor Cdn Oils Nuclear Am Pac T&t Cael Phoenix Sui Penn Cent Puritan Va Echlin Mf Penn Dixie Eg&g Penney JC Eipasong EltraCo PennzUn Resortsinthe Emer el PepsiCo Scurry Rain Essexint Pfizer Statham Ins Ethy! Co Syntex Technicolor Phill Pet Tesoro Pet Fair Hill Pitney B We Fansteel Inc Lwa— Polaroid v \Vikoa Inc Pubsco VLN Corp Westates Pti Flintkote Wn Nuclear Wilshire Pw&t Yates Ind Pullman Va Yonk Ra Questor E Food Fair Fordm ForMcKs Ve Ralston P FreepMin Banco Inc Ve Raytheon Reading Co GAF Corp Rdig Bate NEW York (Ap Gam Sko Te Reich Ch Exchange Gannett RepubSt Reviow Reyn Ind GenEtec Wi ReyrMet Uie GenFood Roanst GenMills Rohr Cp AdMillis GenMot Royccola Ryder Gen Tire Geneseo Safeway AirRed GaPacif St Joe Min Arizona la Ye Gerber Schenley Grace SCM Corp Scoa Ind Scott Paper Am Airlin Sbcl Gt West Sears Gen Giant Shell Ol Acrysug Greyhound Ameipw Gulf Oi Va Signal Co SingerCo Gulf Wn Harris Int South Co Heublein Soungas SouPac T&t Hoernwal SouthrnRy AMF Inc Hoff Electron Os Sorry R AMP Inc HollySug Squibb Ampex Corp Homestice St Brands Anaconda Std Kollsman E Ancorp Housep Stoiij ApecoCp StdOilOn Arch Dan Stauf Armco IdahoPw SteiiDrug Armst Fer Ideal Bas Ve Stevens Impri SunOil Atlas Chem Inger Rand Se Swift Co Ve — Atlas Corp Sti Texaco Beckman BeechAir Tex G Sul Bell How Itek Corp Texas Bendix Texpld Neag BenetiCo Jewel Co Textron Uay Brs Thiokol Beth St jJonnMan Jonniah .A Thrift TimesMir Vo Boeing Co JonLegn Timken BoisCas JonLang Todd Sh Borden Joseins Itransw Air BorgWer Joy Mfg Kaiser Alum TRW Inc KimbCik UN PacCp Hil Kraftco Union Pacif Kresgess A Uniroyal Cal Finant Sy Kroger Unit Air LearSieg Unit Cp LenPcem CarrierCp Lenval Ind CartWal Lenmn US Indust CastieCk Libbofd Ilibbmcn US Steel Cenco Ins Ling Tem Vt Univellp Univer Cerro Co Lockheed Air Upjohn WarLam Lykes Yngst Westy BI Magnyvox Mareth Marcor White Motor Mar Mid Whittaker Martin Williams Bro Maydsir
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New York Stock Averages and Bond Averages Report

The Associated Press compiles daily market figures showing stock and bond averages. Data include various indices and their net changes, with figures for noon Friday, month and year comparisons, and high low ranges across multiple categories.

MENTIONED IN THIS ARTICLE

Associated Press Ind Rallis Util Tey Util Fen
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Plane Crash Ends Record For Safety

COOLIDGE Arizona AP Witnesses say an Apache Air cee plane attempted an emergency landing before nose-diving into a cotton field and exploding All 12 aboard were killed The crash near Coolidge Municipal Airport marked the first scheduled commercial airliner crash in the continental United States since November 1969 The twin engine plane carried 10 passengers and a crew of two

MENTIONED IN THIS ARTICLE

Tucson Phoenix Continental United States Coolidge Municipal Arizona Las Vegas Nev
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Legislators Debate Water Projects and School Bond Talk

Lawmakers seek funds for water and sewer needs in cities and counties. Taylor notes possible school building bond issue while Godwin warns of a funding shortfall. The General Assembly, convened Jan 13, faces budget needs, auto liability insurance, government reorganization, environmental program, and higher education.

MENTIONED IN THIS ARTICLE

Taylor Senate Godwin General Assembly
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Dow Jones Averages Mixed Amid Market Signals

The report lists various market figures including transportation utilities and bonds with mixed performance. The data shows several sectors posting modest gains while others slip, reflecting a cautious mood among investors.

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A.P. Stock Averages Report From New York Noon

A compressed market update from New York at noon shows the A P stock averages edging mixed. The transportation sector displayed varied activity while overall indices hover around the day’s level with a slight gain and losses across different issues.

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Congresswoman Backs Loan Guarantees for Lockheed T:

Rep. Moorhead blasted the Nixon administration and Lockheed chairman Daniel Haughton as he denounced a proposed 250 million loan guarantee. Treasury's Connally signaled quick congressional approval, with opposition from GOP leaders and fears the plan could aid a failing defense contractor amid broader aid to shaky businesses.

MENTIONED IN THIS ARTICLE

Washington Congress Lockheed Aircraft Corp Lockheed William S. Moorhead Dpa Nixon Daniel Haughton Moorhead Secretary of Treasury John B. Connally Connally Rolls Royce St White House House Senate GOP Robert P. Griffin Michigan Jacob K. Javits New York Richard S. Schweiker Pennsylvania Penn Central Dan Haughton Merry’ Band of Thieves
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Swordfishing Decline Precedes North Carolina Contamination scare

Raleigh AP reports the swordfishing industry off the North Carolina coast was already in decline before a mercury contamination scare. Dr. William Hassler of North Carolina State University notes winter fishing is arduous and the fish caught were small.

MENTIONED IN THIS ARTICLE

Raleigh North Carolina William Hassler N.C. State University State Fisheries Advisory Council
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Respite For Capital Thwarted Protesters Leave

The Washington protests failed to halt government business as thousands were arrested and the scene cooled. Rennie Davis vowed they would return in two months while authorities prepared for further demonstrations led by Carl McIntire and Mayday Tribe organizers.

MENTIONED IN THIS ARTICLE

Washington Rennie Davis Davis Carl McIntire John Froinse Mayday Tribe
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Governor Steps to Rally I-40 Extension to Wilmington

Gov. Bob Scott invites Wilmington officials to join him in Washington to press federal officials for extending Interstate 40 to the port city. He cites a strong case but cautions optimism, noting after Vietnam war funds may free up for highway construction and that North Carolina was shortchanged on interstate allocations.

MENTIONED IN THIS ARTICLE

Scott Wilmington State Highway Commission North Carolina Washington Federal Highway Administration Ile Atlanta FHA Smithfield
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Marines To Withdraw From Vietnam Reducing Leathernecks Strength

The U S Command announces withdrawal of more than a dozen Marine units in Vietnam trimming total U S forces to about 262 000 men the lowest in five years. Target is to cut to 184 000 by Dec 1 leaving about 9 000 Marines in country by month end or early June. Major units to stand down include 1st Battalion 11th Marine Regiment and 2nd Battalion 1st Marine Regiment.

MENTIONED IN THIS ARTICLE

Saigon U.S Vietnam Nixon United States 11Th Marine Regiment Artillery 1St Marine Regiment
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North Carolina Bankers elect Armfield as president

Claude C. Armfield Jr. of Asheville was elected president of the North Carolina Bankers Association at the 75th annual convention. He is an executive vice president at First Union National Bank and succeeds Bland W. Worley of Winston-Salem. Also chosen were Lawrence R. Bowers of Whiteville as first vice president and Claude Henson of Asheboro as second vice president. Reelected were Harry Gatton of Raleigh as executive vice president and J. Ruffin Bailey of Raleigh as general counsel.

MENTIONED IN THIS ARTICLE

Pinehurst N.C Claude C. Armfield Jr Asheville N.C. Bankers Association Armfield First Union National Bank Bland W. Worley Winston-Salem Sbankers Lawrence R. Bowers Whiteville Claude Henson Asheboro Harry Gatton Raleigh
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Officials Investigate Prison Death at Odom Prison Farm

In Jackson NC a 34 year old inmate Troy Haddock of Grifton was stabbed to death Thursday night at Odom Prison Farm. Officials said the throat was cut with a pocket knife and the killing occurred inside the cellblock near the showers. Haddock was serving a 7 to 10 year manslaughter term plus other sentences. Northampton County and local law enforcement investigated at the request of corrections officials.

MENTIONED IN THIS ARTICLE

Northampton County Sheriff's Department
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Antiaircraft Guns Blasted Inside North Vietnam Today

U S fighter bombers engaged antiaircraft batteries inside North Vietnam in the 33rd strike this year, destroying three 37mm and 57mm guns near the Ban Karai pass as jets attacked the Minh trail. One Phantom was shot down while two crewmen were rescued. The North Vietnamese defense around the border strengthened, and U S Marine units totaling 3 085 men began withdrawal as part of a 100 000 man cutback reducing forces to 184 000 by December 1.

MENTIONED IN THIS ARTICLE

Ho Chi Minh Trail Johnson Ban Karai Pass North Vietnam Hanoi South Vietnam Cambodia U.S. Command U.S Vietnam
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Natural Gas Prices To Rise Under FPC Action

The Federal Power Commission authorized higher natural gas prices from the Texas Gulf Coast area, boosting consumer bills by August. The move targets exploration incentives and affects gas sold under various pre and post 1968 contracts, with estimated producer increases of one to eight cents per thousand cubic feet.

MENTIONED IN THIS ARTICLE

Washington Texas Gulf Coast Area Federal Power Commission Commission FPC Texas Gulf Coast Midwest
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Also Mentioned on This Page

Stock Market Report Esfss St Sewren NEW York —Exchange NEW York Stock Index Dow-Jones A.P Ceverriel ‘Inks GA Tetas Ts “Transportation Congressman Wrightsville Beach Bob Scott Wilmington Area N.C. Bankers N. Vietnam George Esper High Point Enterprise High Point Enterprise, Inc Church Avenue High Point Ward-Griffith Company National Advertising Representatives
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