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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 01, 1971
Page
2
The Dow Jones industrial average rises 4.02 to 891.21 at noon as advances outpace declines 3 to 2 on the NYSE. Analysts cite a mild rally with many issues oversold after a recent slide. Oils rails and utilities gain, while coal, rubber, metals, chemicals and airlines dip. Caterpillar Pittston and National Steel trade actively with varied results.
Tropical Storm Ginger lingered off the North Carolina coast with 45 mph winds and heavy rainfall. Officials warned of more flooding into Virginia as Goose Creek Island and Oriental reported rising waters and residents evacuated. Damage in the Morehead City-Beaufort-New Bern region was estimated around $900,000 before further flood impacts.
Belhaven North Carolina residents endured high water from the Pungo River as torrential rain and tides flooded yards and streets. Cars, shops, and fields logged two to three feet of water with roads rivered, while residents like Burl Brinn Jr and Hugh Harris faced waterlogged homes and damaged property. Stores opened cautiously amid lingering washouts and debris.
The page shows the Dow Jones averages with varied daily and yearly figures, plus bond averages and sector listings. It notes industrials, rails, utilities, and transportation sectors with numeric values and percentage changes.
The New York market shows varied activity as industrial and transportation sectors move differently. A marginal 17 cent change is noted amid overall cautious trading.
The North Carolina National Guard remained on alert for possible duty in coastal counties after Hurricane Ginger. Gov. Bob Scott visited refugee shelters and surveyed damage along the coast, directing highway crews to clear debris while noting surprisingly little damage in New Bern and Morehead City.
AP reports from Tokyo that Beijing celebrated its 22nd National Day in a festive mood but with changes from prior years. The Foreign Ministry hosted the main reception instead of Chou En-lai’s banquet, radio coverage was limited, and a parade and fireworks were canceled for economy. Officials listed included Tung Pi-wu Li Hsien-nien and Chi Peng-fei while Chou’s wife attended the Grand Reception.
The Senate approved a resolution directing the Nixon administration to use a special fund to ensure free or reduced price school meals for needy children. The measure moves to the House where a similar bill has been introduced. Agriculture and Appropriations Committee members criticized delay claiming more schools may cut feeding programs.
The notice lists carrier and mail subscription prices in North Carolina with annual and monthly figures and notes AP rights, post office entry, and carrier independence. It warns against liability for advance payments and directs readers to contact Ward Griffith Company for home delivery and national advertising representation.
New York AP notes October typically weak for stock prices with tax selling and tight money. Traders eye Phase 2 of the economic plan and report that bears may wake late in the year while bulls can surge into November and December.
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