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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 15, 1958
Page
2
Stock market reports show mixed results with Russia's Sputnick Ill noted and overall group irregular. Industrials ahead slightly, rails uneven with minor downside. American Motors and Chrysler gain modestly amid rumors of low price economy cars. Boeing up about ten points at noon.
The Dow Jones averages show industrials at 495.80 with earlier readings 465.02 and 455.45. Rates and volumes list activity with Teosece, 111.63 and 111.87, and totals around 580,000 to 3,060,000 shares traded.
Economic indicators show a mixed picture with overall industrial output down over 12 percent from its peak while total goods and services output falls about four percent. Durable goods demand weak, soft goods and services rise, farm income up, capital goods and equipment spending slide and consumer spending near 281.5 billion annual rate as experts warn the downturn may endure but could ease.
Quotations compiled at 11 a.m. today from lenders and insurers include American Marietta Colonial Stores Commonwealth Life Domestic Finance Drexel Furniture Elec. Acctg. Cards Gulf Life Ins. Jefferson Standard Lucky Stores North Carolina Telephone Piedmont Natural Gas Public Service Pyramid Life Ins. Security National Bank Wachovia Bank. Bid 21 percent 16s.
Thousands gathered on a parade route in the District to greet Vice President Nixon and his wife as troops, school bands, and university groups lined the path. A DC Republican committee invited 5,000 Republicans, and federal workers were released to join the spectacle before Nixon’s quiet stop in San Juan.
RALEIGH The following were named to the State Democratic Executive Committee at the ders Eugene A Gordon Alamance A V Kennon Mrs An
A Soviet launcher sent Sputnik aloft this morning, then the rocket broke off and entered orbit. The Tass report lists Sputnik III’s approximate orbit time and height, with Sputnik II weighing about 1,120 pounds and Sputnik III details hinted but not confirmed. Western rumors of failed third-satellite attempts and timing around May Day and Bolshevik anniversary are noted.
Marlboro Friends announce memorial services to begin at 1 30 p m with Rev Isaac Harris of Archdale Friends Meeting as speaker Cedar Square Quartet will sing Lunch will be served on the church grounds
Ragon officials said they had not heard of the new Sputnik launch and offered no comment.
The Democratic platform criticizes New Deal era policies as depressingly like prior Republican rule. It endorses a race relations plank asserting North Carolina’s right to maintain racial separation in schools and institutions, and to regulate public health, marriage, education, and welfare.
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