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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 13, 1976
Page
3
New York stocks slipped in quiet trading as rising interest rates and tighter credit hinted by Federal Reserve actions dampened investor enthusiasm. The Dow Jones industrials fell to 1004.25, with losers outpacing gainers two to one. Sony topped NYSE activity, trading around 9 percent.
An OCR dense page lists stock market figures, bank names, and store chains with scattered names like New York AP, American Furniture, First Union Corp, and Wells Fargo style lines. It mentions the stock exchange, prices, and various corporate entities, with fragmented notes on bonds, dividends, and consumer goods firms, suggesting a broad financial and retail snapshot.
A scrambled market brief notes stock indexes and averages with scattered figures. The item references New York and exchange activity, indicating a focus on daily price shifts and overall market tone. No clear outcomes or named entities are readable.
Washington AP Agriculture Secretary Butz says he has new evidence in a Senate probe of military beef purchasing. GAO says tight requirements raise costs for Defense Department beef, amid bribery allegations involving two Boston area meat packers. Testimony includes calls for easing rules to reduce prices.
U.S. Representative Walter Jones of North Carolina says a clerical error in his office led to the belief he supported a proposed new market in Richlands. A letter read at a USDA session was mis-typed, he told reporters Wednesday, clarifying his stance amid concerns over potential business shifts.
Carter warns against expanding uranium enrichment and plutonium reprocessing capabilities. He cites the risk of weapon use and urges a voluntary global moratorium on purchase or sale of enrichment or reprocessing plants until international protections are strengthened. He backs a world energy agency and multinational fuel centers to meet energy needs while limiting nuclear spread.
Nancy Reagan condemns criticism by Barry Goldwater of her husband Ronald Reagan's Panama Canal position. She says she is surprised and hurt, and recalls his 1964 actions while supporting Goldwater against extremism charges. The exchange centers on sovereignty and potential military conflict.
Senate and House Finance panels push to raise taxes on rich by about $1 billion by tightening deductions for investors. Senate plan increases minimum tax from 10 to 12 percent, removes $30,000 exemption, and allows some investment income to be taxed at lower rates for a $270 million break for those who pay large sums. Approval contrasts with liberal demands. chair Russell Long termed it the best possible result at the time.
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