09 Nov 1977
Page 1
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Nov 09, 1977
Page
1
New York stocks moved unevenly with the Dow down 2.60 to 818.67 at mid session as gains edged losses on the NYSE. Arthur Burns defended Fed restraint to curb inflation while the NYSE composite slipped slightly and the American Exchange rose modestly amid total volume of 8.49 million shares.
The New York Stock Exchange and Associated Press listings show diverse price moves with many large names like Alcoa Ampex and US Steel in varied positions. Markets display mixed results across industries as investors react to liquidity and earnings signals.
Governor Hunt reports western North Carolina floods left 3400 homeless and 9000 out of work with 11 dead and 70 injured. Private property damage exceeds 42 million dollars, agricultural losses over 14 million, public property nearly 11 million. 384 houses destroyed and 4250 damaged. 100 people in shelters. 12 county schools closed for repairs.
Calhoun singer Wright Johnson releases Ballad Of Bert praising Bert Lance from banker to state official to OMB director. Song urges rally around Bert while senators face dirt. Produced by Sugar Valley Productions of Calhoun.
Patricia Hearst stayed in Las Vegas as Frank Sinatra’s guest, registered with police as a felon per city rule, and posted a $1.2 million bond while appealing her bank robbery conviction. She attended Sinatra at Caesars Palace and sat ringside at the Norton versus Young boxing match before leaving town.
Houston AP report says Doug and Gal Hervey, newly wedded on Nov 1, spent a promotion ride in a 60 foot high trailer held by a 50 ton crane near a S0 ton rig. A gust tipped the crane and trailer but the couple escaped unhurt as the device crashed to ground. The station plans extra thrill money.
North Carolina voters approved a constitutional amendment allowing governors to serve two consecutive terms. With 91 percent of precincts in, 92 percent of counties opposed succession. Burke County and several conservative mountain counties voted against, while Buncombe favored the proposal. Other statewide edits saw broad endorsement, including a $230 million clean water bond and a $300 million road program. A balanced-budget amendment passed narrowly, while protections for heirs and life-insurance benefits remained broadly supported.
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