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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Nov 02, 1958
Page
5
High Point merchants active with the High Point Parking Corporation are praised for addressing the parking challenge. A new lot at E High and S Wrenn adds 50 spaces, helping offset spots lost to traffic department eliminations.
Heritage Furniture in High Point reports senior vice president John Tapner resigns after just over two years. Elliott S. Wood, the president, says merchandising and design heads will report to him. Henry Overcash wins a color television in a national sales contest by International Altex Corp for top regional sales growth.
Oversite Transportation Co. reports strong first nine months results with profits before taxes at 851,014 versus 589,653 in the prior year’s first three quarters. Total revenues reach 8,873,506, a 24.6 percent increase over last year.
Unofficial bid and asked prices compiled by the National Association of Security Dealers and others as a guide to approximate ranges. The quotations indicate where securities could have been sold or bought at the time of compilation on October 30 1958. Origin of any quotations available on request.
J. Z. Watkins promoted to sales manager of Piedmont Natural Gas Company after rising from the commercial staff. He has 1926 gas industry experience with Duke Power and Ru lane Gas Co. and is active in Charlotte civic and church work.
The economy shows a steady recovery with auto output surging as GM settles local labor issues. Over 98,000 new passenger cars rolled off US factories while construction awards rise, yet manufacturing capital spending slows. Christmas Club deposits reach a new high, and unemployment improves in October ahead of elections. Bethlehem Steel misses a quarterly dividend. US Steel notes low inventor ies. Mary G Roebling becomes first woman governor of the American Stock Exchange.
John Hutchens says Du Pont will conduct a nationwide survey on impulse buying in Big Bear and Greensboro stores. Surveyors will greet customers at entry and observe pushcarts to compare purchases with initial lists to identify impulse buys.
New York AP report notes a gradual general business advance with no rush to expand. Production rises with 54 percent reporting gains, 8 percent lower output, and new orders showing 50 percent increases while 38 percent hold steady and 12 percent fall. June Brae, a tap dancer with English Sadler's Wells, trained in Shanghai public schools.
Adams-Millis Corporation releases a quarter report showing 1958 third quarter sales of 3 906 254 and earnings before taxes of 185 552 with net earnings 93 373, trailing the prior year. First three quarters total sales 10 581 639, earnings before taxes 408 215, net earnings 235 385, down 48 175 from 1957 after adjusting for subsidiary earnings.
New York report shows October volume the heaviest for that month since 1929 with 95,087,004 shares traded on the NYSE and a market rise to a midmonth high before easing. The AP index averaged $199.10 as profits-taking cooled gains while nine straight weekly advances ended.
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