Stock Market Sags in Moderate Trading Amid Inflation Fears
New York stock prices fell across the board as margin concerns and inflation worries weighed on investors. The Dow dropped 6.88 to 634.86 near a four year May 1970 low, while the NYSE market average slid 0.45 to 63.61 and gold and silver issues rebounded after wholesale price data. Eastman Kodak Allied Chemical Ford Alcoa fell while Merck and J Ray McDermott declined, Upjohn rose slightly.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Treasury
William E. Simon
Westinghouse Electric
American Stock Exchange
ASA, Ltd
Dorne Mines
Campbell Red Lake
Hecla Mining
Eastman Kodak
Allied Chemical
Ford Motor
Alcoa
Merck
J. Ray McDermott
Upjohn
NYSE
New York Stock Exchange Prices Mixed On Trading Day
In New York the AP reports mixed moves across major listings with notable gains for certain technology and consumer firms while financials show uneven performance. Investors monitor earnings guidance and sector rotations as prices reflect evolving market sentiment.
MENTIONED IN THIS ARTICLE
New York
Exchange Extends NYSE Trading Hours to 4 P.M.
The New York Stock Exchange votes to extend trading hours by a half hour to 4 p.m. starting Oct. 1 amid concern over low commission revenues. The extension was supported by 12 of 15 top retail brokerages and 86 of 93 regional firms in a member poll, while floor brokers opposed. Amex follows with a 4 p.m. close to aid West Coast members.
MENTIONED IN THIS ARTICLE
New York
Wall Street
New York Stock Exchange
NYSE
James J. Needham
Securities and Exchange Commission
Exchange
Fire disables luxury liner Cunard Ambassador in Gulf of Mexico
The 14,160 ton Cunard Ambassador suffered a raging interior fire off Florida causing 53 crew and 40 Coast Guard personnel to abandon ship. The vessel was fretting capsizing as it drifted dead in the water while Coast Guard ships stood by. Most crew members were rescued by a passing naval tanker Fallujah and later transferred to a naval vessel. The fire began after fuel leaked from a ruptured line igniting near a diesel engine en route from Miami to New Orleans. The liner owned by a Cunard subsidiary and leased to Bahama Cruise Lines has England crew and no passengers aboard.
MENTIONED IN THIS ARTICLE
Key West
Fla
Cunard
Coast Guard
Florida
Miami
New Orleans
Vera Cruz
Mexico
Robert Howard
Patrol Seeks More Troopers In North Carolina
North Carolina Highway Patrol chief Col E W Jones says he will ask the 1975 General Assembly for funds to hire about 100 additional troopers over two years as motor vehicle registrations hit a record four million. He notes retirements and staff shortfalls despite an authorized strength of 1161, urges training facility expansion, and advocates keeping 55 mph as the default limit, with possible exceptions for superhighways amid a drop in traffic fatalities in the first six months of the year.
MENTIONED IN THIS ARTICLE
Raleigh
North Carolina Highway Patrol
General Assembly
E.W. Jones
Jones
Institute of Government
Chapel Hill
Jim Holshouser
August Wholesale Prices Jump Presages Inflation Rise
Wholesale prices rose 3.9 percent in August signaling worsening inflation. The August gain was the second highest in 28 years, surpassed only by 6.2 percent in August last year after price controls ended. Agricultural products surged 7.6 percent, industrial commodities 2.5 percent, with three month annualized increase at 37.3 percent. Year over year, prices were up 17.8 percent.
Bar Recommends Rejecting Nixon Law License Resignation
The State Bar of California urges the California Supreme Court to reject Richard M. Nixon's resignation as a lawyer, leaving him facing possible disbarment. Bar president Brent Able said the move follows Nixon’s refusal to acknowledge possible disciplinary action amid the Watergate inquiries. The bar also asked that acceptance of resignation not bar future reinstatement actions. Nixon's resignation letter was sent to the state Supreme Court, while his attorney said it aims to stop practicing law, not to avert disciplinary proceedings.
MENTIONED IN THIS ARTICLE
Sacramento
Calif
State Bar of California
California Supreme Court
Richard M. Nixon
Nixon
Bar
Brent Able
Board of Governors
Board,of Governors
Michael Lipman
the State Supreme Court
Dean Butler
Obscenity Contested as Book Read in School Policy
The New Hanover County law enforcement officers pledge to mobilize church civic and veterans groups to oppose the book The Curious Eye an anthology to be used as optional reading. They note Senate support shifts toward air bag interlocks and warn of obscenity concerns in the high school English materials.
MENTIONED IN THIS ARTICLE
Wilmington, N.C
New Hanover County
Senate
Department of Transportation
H.G. Grohman
J.O. Flowers
Wilmington
John Ward
Wrightsville Beach
Ray Padgett
Carolina Beach
Streaking Study Profiles USC Nude Runners as Students
A USC psychology study of 85 self-described streakers finds they were bright, active students dating regularly, from small towns, and often with above average GPAs. Men averaged 170 pounds and nearly six feet, women 5 feet 3 1 2 inches and 117 pounds. Most were Protestant, few from fraternities, and streaking is seen as a one-time fad linked to a campus spring rite.
MENTIONED IN THIS ARTICLE
Columbia
S.C
University of South Carolina
Robert V. Hecker
South Carolina
Heckel
Nee
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