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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Nov 01, 1971
Page
2
The Dow Jones average fell 6.49 to 832.51 at noon as traders digest uncertainties about Nixon's Phase 2 economic program. Advances trailed declines on the NYSE by 7 to 3 while the AP 60-stock average slipped 1.9 to 306.7. activity was dull with most sectors down except steels utilities and nonferrous metals showing mixed moves.
New York Stock Exchange noon prices are shown with unofficial sales figures. The section explains dividend rates as annual disbursements, notes extra or special dividends, and deciphers footnotes a through fi that cover stock dividends, liquidations, ex dividend and ex distribution, warrants, rights, and other conditions.
President Anwar Sadat returns to Cairo after a three day trip to Libya amid talks with Col. Muammar Gaddafi about plans for a new Arab federation and possible Israeli aggression, with no further details released.
State Sen Hargrove Bowles of Dunford was expected to announce resigning his Senate seat to pursue the Democratic nomination for governor. Lt Gov Pat Taylor said he probably would not resign, noting the constitutional line of succession and his duty to remain in office.
The financial item lists Dow Jones averages across sectors including 30 Industrials and 20 Transportation with totals around 032,516.49 and 6,226.43.07. It notes bond categories 40 Bonds and 10 Higher grade rails with figures like 209.81 and 2.37, reflecting mixed market activity.
The noon market update lists the New York Stock Exchange index categories including Industrial Transportation and Utility Finance. Investors monitor variations across sectors as trading proceeds at midday.
Southern Railway Co. says nine month consolidated net income rose to 51.9 million, 6.94 a share, up from 42.9 million and 5.84 in the prior year. Third quarter earnings were 15.1 million or 2.01 a share, slightly below 1970. A July August 18 day UTU strike reduced income modestly in Q3. President W Graham Claytor Jr. noted strong year to date performance despite labor disruption.
Parker named assistant vice president and ILD manager at First Citizens Bank High Point announced by R P Holding Jr. Parker a High Point native with 17 years banking experience since 1969 and past president of the American Business Club. He attended High Point College and Davidson College and is married to Sue Speed with three children.
Eckerd Drugs Inc of Charlotte declares cash dividends of 10 cents per share on common stock and 50 cents per share on preferred stock payable November 26 to shareholders of record at the close of business November 12.
AP profile of William H. Rehnquist examining early views on court liberalism and charity in rulings. Tracks Senate confirmation focus on civil rights stance, police search limits, mass arrests, and detention policies along with his Phoenix and Washington roles.
President Nguyen Van Thieu visited the Bien Hoa national cemetery to honor South Vietnam war dead. Widows, in mourning with babies, cried as Thieu moved among graves and four new coffins, later praying at Saigon’s cathedral during National Day observances.
An official of Stokely-Van Camp asks the FDA to publicly declare 15,000 cans of French style green beans free of botulism after a Pensacola Navy hospital case initially suggested poisoning. FDA will continue examining cans from the shipment as recalls linger and investigations proceed.
Sherman Shatwell 30 fell into the Mohawk Zoo lion pit in Tulsa and was attacked by a young lion. Spectators pelted rocks to drive away three other lions while zookeepers moved the animals to cages. Shatwell, treated and released, credited the youths’ size for his safety.
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