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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 24, 1960
Page
4
New York stock activity showed a sharp slip in midafternoon trading as the AP average of 60 stocks fell .10 to 204.70 with industrials, rails, and utilities down. Dow Jones average slid 4.44 to 73.11 while many gold mining and speculative issues dropped. bonds eased amid a drab background and rising recession talk.
AP analysis outlines who is pushing gold prices higher on the London market as prices surge above 40 dollars per ounce. It notes US Treasury prices, central banks, and speculative players from Europe and the Middle East, plus potential hedges tied to the election and dollar devaluation fears.
Nixon and Kennedy clash over Cuba policy and a potential fifth debate. Nixon accuses Kennedy of misquoting and argues for a broad topic. Kennedy defends his Cuba stance and calls for adherence to international law and nonintervention pledges. The exchange cites fears of a World War II scale crisis and possible U.S. leadership in countering Castro.
Dow Jones Averages and indices are listed with figures from Bache & Co. Prev. close at noon shows Industrials near 57 and 65 stocks at 192.38 with volume reported. The data include US38 and SUR.AL quotes with midday readings around 124.25 to 124.71 and 92.08 to 92.92, reflecting activity across multiple listings.
The United States Treasury denies plans to raise the gold price to stem drains on reserves. London bullion firms report steady demand with heavy orders last week, largely from Europe. A Daily Mail expert notes some buying by American financiers wary of a Kennedy victory over Nixon.
Thomas Jefferson Taylor of Marshal Texas died Saturday at age 86 after a 15 month illness from heart disease. He was born in Autauga County Alabama and was a large landowner. He was the father-in-law of Democratic vice presidential candidate Lyndon B Johnson.
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