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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 08, 1974
Page
1
The New York stock market rose modestly but gave up gains as profit taking trimmed several high priced issues. The Dow stood at 602.47, down 5.09, with many blue chips losing ground while wage and credit signals spurred optimism for an anti inflationary plan from President Ford.
Exchange floor data shows varied readings for Abbe, Allgud, Alcoa and AmCan among many listed equities. Notable gains appear for AMBAC, AmHosp, AmStand, and BristM while several names show mixed to modest declines. The sheet lists bid, ask, last, high and low figures with percent changes and miscellaneous notes.
The excerpt discusses unofficial American sales figures and dividend rates. It notes that annual disbursements are based on the last quarterly of a semi annual declaration, with special or extra dividends identified if not regular. It mentions prior declarations and stock dividends, and cash value estimates on ex dividend distributions.
A compact glossary explains stock market shorthand such as ex dividend ex rights and when issued. It lists terms like ex distribution without warrants and next day delivery and notes bankruptcy or receivership and foreign issues under interest equalization tax.
Inter dealer quotations compiled by E F Hutton show bid and ask prices for multiple stocks and bonds as of about 1 a.m. These figures reflect inter dealer markets and exclude retail markups or commissions. Listed names include Coca Cola, NCNB Corp, Piedmont Airlines, Pub. Serv. of North Carolina, and other firms with varying bid and ask percentages.
People in the $15,000 a year category are the ones who are suffering, according to a discussion that references figures and wages. The remark highlights income hardship and ties it to broader economic concerns raised on the page.
The report details contributions to Senate candidate Jacob Javits and GOP incumbents Peyser Mathias Young Dominick Kemp Cohen. Largest donation was 8500 to Javits in 1968, smallest 500 to Dominick on July 1 this year, with Javits receiving 12000 from Nelson's family in 1968 and over 8000 this year from Nelson relatives. A Javits spokesman says no conflict and he will vote for Rockefeller pending hearings. Peyser aide notes longtime support between Peyser and Rockefeller ally. Peyser’s district covers Pocantico Hills, Rockefeller estate in Westchester County.
The High Point Enterprise lists subscription rates for mail and Sunday editions, notes AP news use, and states delivery and carrier details. It mentions Home delivery via Ward-Griffith Company and identifies the publisher and address in High Point North Carolina.
President Ford opened a month long campaign drive in Burlington Vermont warning that two strong parties are essential as pillars of democracy He urged Republicans to rally for Senator George D Aiken and for a GOP comeback while facing large campus protests and a tense crowd outside the University of Vermont Ford urged a national effort to whip inflation to save the political fabric of the country and warned of shrinking party support in a Watergate era.
Dominican President Joaquin Balaguer offered safe passage out of the country to six terrorists holding U S diplomat Barbara Hutchison and five other hostages in the Venezuelan consulate. He ruled out releasing 37 political prisoners and said the move is his absolutely final position. Balaguer said the offer was made with concern for women hostages and noted ambassadors informed the guerrillas the government would spare their lives if they surrendered.
United States customers of MacMillan Rothesay Ltd will pay $25 more per ton for newsprint starting Jan 1, 1975, bringing the price to $260 per ton. MacMillan Bloedel, based in Vancouver, has major interests in MacMillan Rothesay, which operates a mill in Saint John, New Brunswick, serving primarily the eastern market. The spokesman cited escalating labor costs as a factor in the price increase.
Moscow AP reports Soviet leader Leonid I Brezhnev will fly to France on December 5 for a two day working visit with French President Valery Giscard d Estaing Tass says.
Governor attacks milk loss leader law as a barrier to free competition and seeks repeal while Dairy officials clash over pricing. Holfhouser defends the ban and announces two new Milk Commission appointees, asserting appointees must share his view on pricing. He seeks farmer support before the January General Assembly convenes.
Former agriculture chief Butz faced criticism after a grain order sale to Russia raised questions of legality and timing. President Ford declined calls for his firing, citing lack of advance warning and overall department performance. Secretaries Kissinger and Nessen defended the administration as Treasury Secretary Simon heads to Moscow for talks on grain needs.
American Motors Corp. announces 1975 models will reach showrooms on November 15 with an average price rise of 2.9 percent. The average increase per car is about 384 dollars, led by standards upgrades on several models. The Gremlin remains the lowest priced domestic car at 2798 dollars, while other prices span the Hornet to Wagoneer. Production resumes after a UAW strike settlement, with Brampton plant talks ongoing.
The Textile Workers Union of America says it will sue the National Labor Relations Board over delays in a $20 million back-pay case tied to the illegal 18-year closed Deering Milliken textile mill in Darlington, South Carolina. TWUA cites court rulings and alleges a link to political contributions to Nixon’s 1972 campaign.
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