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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 28, 1970
Page
2
Traders faced renewed doubts about the economy as the General Motors strike and weak indicators clouded the outlook. Prices slid on the NYSE with a 2 to 1 ratio of declines over advances as investors awaited today’s key government data.
The American Stock Exchange table shows mixed quotes with many prices and percent changes. The report notes unofficial 1970 sales figures and lists numerous footnotes explaining dividends stock splits and other conditions attaching to specific rows.
The case centers on Lt. William L. McDonald accused of murdering his wife Kristin and two daughters in their Fort Bragg apartment after Kristin allegedly wet the bed. He survived stab wounds and awaits trial as prosecutors present weapons and blood evidence.
The Associated Press stock and bond averages show movement with fresh industrial contributors and noticeable shifts in daily figures. Market activity reflects varied gains and losses across major indices as traders react to early trading signals.
A compressed snapshot shows Dow Jones averages with mixed results across sectors. Utilities and industrials area display notable shifts while overall indices trend modestly lower amid varied gains and losses.
AP records a noon NYSE index snapshot with minor changes in key figures. The data shows small gains and losses across listed securities with overall market movement modest at 12:00 PM.
C Robert Hiles president of the Lilly Co. was elected to the High Point NCNB Board of North Carolina National Bank at a Charlotte directors meeting. The vote also elected three City Board members in other NCNB cities: Oliver N. Crosse, William D. Hobbs, and James M. Berry. Hiles, Indiana native with a Purdue chemistry PhD, is married to Joanne Miller and has two children. He serves as Lilly Varnish Co. director and active in several associations and local groups.
Burlington Industries reports a 9.3 percent drop in earnings per share for the 1970 fiscal year ended Oct 3 with net earnings of 71.423 million on 26.17 million shares and a 3.2 percent rise in sales to 1.8216 billion. The fourth quarter shows 468.205 million in sales and 15.983 million earnings per share 61 cents, in a 14 week quarter. A regular quarterly dividend of 35 cents per share is declared payable Dec 1 to holders of record Nov 6.
Ford Motor Co. said nine month sales were near last year but earnings dropped due to higher labor and materials costs. Third quarter sales hit a record 3.4 billion with per share income of 68 cents, up from 50 cents in 1969. Henry Ford II blamed the UAW strike at GM for limiting gains.
Soviet authorities indicate Turkey will determine if the pair qualifies for refuge under a Turkish criminal code provision. The rule bars extradition for foreigners charged abroad with politically motivated crimes from being sent back for trial.
State Law Enforcement Division chief said its inquiry supports Forest Acres police that two aides of Albert Watson contributed to a racial flareup at A C Flora High School in Columbia. A witness affidavit and further affidavits are reportedly in hand as Gov. McNair is kept informed.
In Quito and other cities the army and police hunted for Gen. Cesar Rohn Sandoval after his abduction from a car. President Velasco Ibarra imposed martial law, shut newspapers, halted transport, and curfews were set as arrests rose.
Britain under Prime Minister Edward Heath will raise its NATO military contribution and keep a small Southeast Asia force while trimming total defense outlays. The Ark Royal carrier will join European allied command, four Jaguar squadrons will extend the British French close support program, and the Territorial Reserve will be rebuilt with an armored car regiment for emergencies.
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