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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
May 23, 1971
Page
6
Workers at Neill Pontiac on North Main and Montlieu gathered for a symbolic ownership change as Mr and Mrs Dave Neill pass the key to the new owner Vann York. Dave Neill had owned the dealership.
The stock market fell this week with the Dow Jones dropping 14 points on Monday in the largest drop since June 23, 1970. Despite a midweek recovery, the Dow closed at 921.87 on Friday, 14.20 points lower than the prior week.
The 60 stock average fell 5.8 points to end at 321.9 amid a rail strike. Analysts cite the slowdown as the main factor with investors snapping up bargain priced shares as prices began to rebound.
The Agriculture Department projects a steadier farm economy in 1971 with gross income near 56.1 billion for the year, up from early 1970. Net income is expected to stay just below or around 15.8 billion, as rising expenses offset modest gross gains. The outlook predicts improving income after a sluggish first quarter.
THOMASVILLE Furman Payne Merrill 25 of North Westwood Avenue convicted in Davidson County District Court of drunken driving. He was fined 100 dollars and costs and his license restricted for 12 months. Lloyd Hughes of Lexington faced false pretense charges. case not pressed.
Arthur Burns the Federal Reserve chairman assured the Senate Banking Committee that monetary policy will be geared to U S domestic recovery rather than international money pressures. The pledge aimed to quell fears of higher American rates that could curb profits and draw funds from stocks, suggesting a longer term GE forecast of stronger 1970s growth with a 1980s GNP near 2.034 trillion and wage gains.
The Savings and Loan associations of High Point plan their annual Piedmont Region awards night hosted by the American Savings and Loan Institute of Chicago. About 225 attendees will share a buffet at Top of the Mart. honored speaker C Floyd Cooper of Orlando will be joined by Ralph S Childs Jr of Washington DC and others. A tour of Tomlinson Furniture Co showrooms follows the dinner.
Richard Rackley son of Mr and Mrs L E B Rackley of 508 Sherbrook Dr High Point has been promoted to manager of financial accounting at Beaunit Corp in Research Triangle Park He will supervise the general property and payroll accounting departments He joined the firm last October and is a High Point College graduate now living in Raleigh Also W Roland Albertson of Massachusetts Mutual in High Point has joined the Million Dollar Round Table MDRT a select national life insurance group membership benefits fewer than two per cent of agents each year The MDRT is a top professional honor in the industry.
James M. Heustess has been named coordinator of knitted fabrics for Blue Bell Inc with responsibility for knit goods activity across divisions. He will be based at the company's corporate headquarters in Greensboro.
A. C. Woodroof Jr. AIA announces Odell Associates Inc. opens an architectural engineering office in Greensboro with Woodroof as resident director. He has seven years on the Greensboro Board of Adjustment, past director of Greensboro County Club, and is a deacon at First Presbyterian Church. This marks Odell's first local office outside its Charlotte headquarters.
Federal Reserve Bank of Richmond reports April bank debits increasing in all but one of the state’s main reporting areas. Fayetteville SMSA up 26 percent to 221.9 million, Raleigh 17 percent to 1.554 billion, Greensboro-Winston-Salem-High Point 15 percent to 2.521 billion, Durham 13 percent to 413.2 million, Wilmington 12 percent to 171.7 million, Asheville 7 percent to 268.4 million, Charlotte 3 percent to 2.112 billion. Data reflect checks drawn on demand accounts, excluding U S government and interbank funds, from 35 Fifth District centers.
On May 25 the High Point Traffic and Transportation Club will hear W L Fayle president of Burlington Industries Transportation Division. Fayle will discuss the value of Traffic and Transportation Management to improve services and cut freight costs. Burlington Industries operates three High Point plants and the nation's largest private truck fleet.
John R. Boag becomes director personnel administration at Indian Head overseeing company wide personnel and employee relations. He replaces Charles C. Gadsden who was head of the corporate personnel department before his promotion to vice president administration.
E Arnold Benton of High Point was elected vice president for commercial finance by Directors of Factors Inc The announcement came from Charles H Rotert Jr Factors president Benton joined last month as manager of commercial finance after six years at James Talcott Inc in Atlanta He is a Columbus Georgia native and graduate of Georgia Military Academy and the University of Georgia Factors Inc a subsidiary of NCNB Corp provides short term working capital mainly to furniture textile and related industries.
The first graduating class of the Young Executives Institute receives certificates at the University of North Carolina Chapel Hill. Two High Point executives, William Henry Drummond and Nixon Carr Henley, completed a five week management development program for leaders in manufacturing firms service industries and government.
A persuasive note highlights Integon insurance and financial services as a way to prepare for future college expenses, suggesting long term benefits and education funding options for families. It emphasizes planning ahead with varied forms of coverage.
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