Mixed Economic Signals Ahead of Election Week
Government data show expanding unemployment in five major markets while two drop from the list. Reports reveal rising wholesale prices, weak leading indicators, and higher unit labor costs. GM posts its largest quarterly loss since 1946, U.S. Steel profits fall, and a major NYSE merger plans to combine Merrill Lynch with Goodbody & Co.
MENTIONED IN THIS ARTICLE
Carole Martin
New York
U.S. Labor Department
Nixon
Afl-Cio
George Meany
General Motors Corp
United Auto Workers
Tar Heel State Shows Small Upturn in September Activity
Wachovia reports September business activity in North Carolina rose 0.2 points to 110.5, led by employment gains and higher spending. Jobless rate edges to 3.9 percent, nonmanufacturing jobs up while manufacturing declines continue. retail sales stay sluggish and car sales rise modestly. Building permits across 18 NC cities remain essentially unchanged.
MENTIONED IN THIS ARTICLE
Tar Heel
Wachovia Bank and Trust Company
N. A. North Carolina
North Carolina
Federal Reserve Bank
Richmond
Fifth District banks show loan declines and deposits mixed
Federal Reserve Richmond weekly survey reports total loans in the Fifth District 28 banks fell to 8.93 billion as of Oct 21 with domestic commercial loans down 81 million and nonfinancial loans down 13.8 million. Demand deposits slipped while time deposits rose. Investments gained and regional scope includes five states plus DC. Roberts will base in Winston-Salem. Residential rate increase of 1.38 percent under consideration.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank of Richmond
Fifth District Reserve District
Federal Reserve District
District of Columbia
Maryland
Virginia
North Carolina
South Carolina
West Virginia
Executive Named Richmond R Roberts Named CFO of Hanes Corp
Richmond R Roberts with 34 years in corporate finance is named vice president and chief financial officer of Hanes Corp. He will oversee all financial activities including accounting banking relations planning taxes and control and will direct data processing.
MENTIONED IN THIS ARTICLE
Richmond R. Roberts
Hanes Corp
Roberts
McDonalds Reports Strong Q3 1970 and Nine Month Earnings
McDonalds Corp boosts third quarter net income 43 percent to 5,184,648 with earnings per share 43 cents up 34 percent from 32 cents in 1969. Nine months net climbs 38 percent to 13,766,938. earnings per share reach 1.16, up 30 percent from 0.89. Net for the nine months surpasses total for all of 1969.
MENTIONED IN THIS ARTICLE
McDonald's Corp
Piedmont Gas Seeks Rate Increase Before Regulators
Piedmont Natural Gas asks the North Carolina Utilities Commission and the South Carolina Public Service Commission for higher rates to cover rising gas costs. The plan would raise the average residential bill by under 18 cents monthly. The company has cut rates five times in the last decade and refunded over $1.2 million to customers.
MENTIONED IN THIS ARTICLE
Piedmont Natural Gas Company
North Carolina Utilities Commission
South Carolina Public Service Commission
Piedmont
Walker elected treasurer of footwear association in Atlantic City
At a board meeting of the American Footwear Manufacturers Assn. last week in Atlantic City B. B. Walker president of the B. B. Walker Shoe Co. of Asheboro was elected treasurer. Walker holds multiple posts including director of First National Bank president of Seagrove Textile Co. and Reklaw Investment Corp. He serves on the Davidson College board of visitors Rotary director and Methodist Church Official Board member and belongs to the Young President's Organization Omicron Delta Kappa and the Asheboro Chamber of Commerce.
MENTIONED IN THIS ARTICLE
American Footwear Manufacturers Assn
Atlantic City
B. B. Walker
B. B. Walker Shoe Co
Asheboro
Assn
Walker
First National Bank
Seagrove Textile Co
Reklaw Investment Corp
Davidson College
Rotary
Methodist Church
Young President's Organization
Cameron-Brown Co Rises to 11th Largest Mortgage Bank
Cameron-Brown Co has jumped to the 11th largest mortgage banking firm in the United States after two years at 14th. It remains the largest mortgage banker in the southeast with offices in 22 cities across North Carolina South Carolina Georgia Virginia Maryland and Washington DC.
MENTIONED IN THIS ARTICLE
Cameron-Brown Co
United States
Cameron-Brown
North Carolina
South Carolina
Georgia
Virginia
Maryland
Washington, DG
Also Mentioned on This Page
Madison Avenue
Herbert Stein
London
Paul W. McCracken
President’s Council Ans
New York Association of Business Economists
U.S. Steel Corp
Wall Street
New York Stock Exchange
Merrill Lynch, Pierce, Fenner & Smith
Goodbody & Co
Exchange
Merrill Lynch
Goodbody
Wachovia
Ager
Semaoran
Nterdealer
Dev
Atlanta Gas L
Ind
Sue Bassett Furniture
Billups West
Branch
Bank of N.C Brush Beryllium
Buckabee Mears
Carmine Foods Caro Stores
CMC Fi
Carolina Casualty Vns
Carolina Caribbean E
Georgia International
Guardian Care Hardees System
Hickory Furniture
Home Security
Integon Corp
Ivers
Vvire Sia
Tomer Stee
Cewsunee Goentific
I Nape & Vogt Tg
Lenge. i
Lite of Cerone
LOM
North Aemerice
Northwestern Frente
Bark & Trust
Piedmont Aviation Sie
Quality Mills
Reid Provident Labs
Ruddick
Sonoco Prodsx Textiles
Southern National Corp
Vermont American Triangle Brick
Wachovia Realty Walker B.B. Shoe
Wellington Hall
Western Carolina Tel
Wright Machinery
Telephone
Reproductions, Inc
E. Westwood
Ed Lyon, Jr
C.la
Gatewood Ave
George P. Clark
C.S.A
Hayden Place
Mary Humphreys
West High ST
Ray Hubbard
Hanes
Winston-Salem
Amiral AL
FAS
Greensboro
N.C
Bulova
Accutron
Lester’s Jewelers
South Main St
High Point
Burgers
Gilbert H. Clinard
Robert McCuiston
South Main Street
Integon
Qintegon’ Financial Services
Jack J. Pellegring
Transcon Industries, Inc
International Dynamics Inc
W. Katella Avenue
Anaheim
Calif
The
Advertising Council, Religion In American Life
International Newspaper Advertising Executives
Bill Allen Enterprises, Inc
R.S. Dickson, Powell, Kistler & Crawford
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