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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 19, 1958
Page
5
Weekend Fall Festival sales showed mixed results as shoppers browsed warm weather bargains while retailers anticipate price rises at the October market. furniture producers face tight inventories amid robust building permits and major firms like American Marietta report record monthly sales and rising earnings expectations.
The compilation presents bid and asked prices from the National Association of Securities Dealers and other sources not representing actual trades. It notes the quotes reflect sold and bought indications at the time, dated October 16 1958, with origin of quotations available on request.
Cone Mills Corp vice president John W. Bagwill urged that supervisory personnel are key to a modern industrial economy. Speaking at the Northern North Carolina and Virginia Southern Textile Association meeting, he traced foremanship from artisan days to today’s foreman as an industrial manager.
New York AP notes stock market turnover surged to 24,402,570 shares the heaviest in 25 weeks, with totals exceeding five million on two days. The AP Average rose to 199.10, the Dow hit 546.36, while the broader S&P 500 lagged its Monday high.
Work has begun on the new home of the Carolina Bank and Trust Co at N Main and First Streets Denton. Coltrane and Graham High Point contractors started laying off the building last week. The one story masonry structure measures 42 by 110 feet with a 4620 square foot interior and a drive in teller window. Parking lot up to 95 by 230 feet. Terrazzo floors acoustical ceiling direct lighting. Air conditioned and four month build time depending on winter weather.
Two gunmen hijacked a truck driver aboard a Lackawanna ferry and stole his $20 000 cargo of almonds. The driver, John Pensabene 26 of Brookne, was held for hours and released unharmed as the truck and almonds were later found intact in Manhattan. Police said the hijackers mistook the cargo for coffee beans.
The Federal State Market News Service reports North Carolina Middle Belt flue cured tobacco reached a seasonal high with 12 840 387 pounds sold at an average of 59.67 per hundred. Eastern Belt averages rose while the Old Belt fell, and total weekly sales reached 25 502 280 pounds at 61.50 per hundred. Virginia and North Carolina state totals were 15 853 506 pounds at 59.74 and 12 415 972 at 58.74 respectively.
Court records show the musician Herbie Fields had clear assets only in his instruments valued at 300 to 500 dollars. He died September 17 of a sleeping pill overdose. Debts total about 20 000 dollars.
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