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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Sep 20, 1971
Page
2
The Dow fell to 904.42 with the Nasdaq steady as trading dragged on. RCA rose 14 percent to 33 1/2 on 153 300 shares as it plans to end most computer manufacturing. IBM gained 1 percent to 302 amid expectations of benefit from RCA move. Investors stay cautious awaiting Nixon wage price follow up.
New York Stock Exchange noon prices listed with codes for actions this year including declared dividends, stock splits, new issues, and ex dividend or ex distribution statuses. The key codes cover paid or declared amounts, arrears, substitutions, and special conditions such as foreign issues and bankruptcy status.
North Carolina legislators consider replacing the current dual system with a strong central governing board for state universities. Governor Scott and university leaders signal mixed support while Burney and East Carolina's Leo Jenkins push for a coordinating board with limited budget powers.
Amid midday trading on the New York Stock Exchange the Dow Jones Industrial Average fell while the broader index showed slight changes amid shifting gains in industrials and utilities as investors weighed mixed economic signals.
Wellington Hall, Ltd. stockholders re-elected John K. Adams John C. Slane William L. Bingham Donald W. Leonard Winfield Blackwell Dan D. Cameron and George M. Irvine Jr to the board. The firm runs 33 retail stores 14 company-owned 19 franchised with four company stores profitable in the latest quarter to July 31 1971. First quarter unaudited results show a 150000 loss and a 10 percent drop in first quarter 1971 sales versus prior year.
Hickory Furniture Co reports 19 percent higher earnings for the 12 months ending July 31 at 63 cents per share on a fully diluted basis. Net income rises to 675,006 from 561,782, while sales grow to 13,291,636 from 11,691,019. The firm runs five NC plants, three wholly owned subsidiaries, and two jointly owned facilities with Kay Lyn and Directional Industries.
The Lane Co Inc of Altavista Virginia declares 25 cents per preferred share for record Dec 15 payable Jan 1 1972 and 12 1/2 cents per common share for record Sept 27 payable Oct 7 1971 plus 12 1/2 cents per common share for record Dec 1 payable Dec 15 1972. President Hampton O Powell notes improving incoming orders vs last year.
Finance ministers from 10 major trading nations and Congress in Washington test Nixon's plan. Connally pushes for a $13 billion U.S. balance of payments gain while lawmakers shape tax reform and wage price controls. The outlook remains cautious with mixed economic indicators and a key October rollout.
Examiners, including Dr. Henry Siegel and Dr. Michael Baden, confirmed that nine inmates and several prison staff slain at Attica died from gunshot wounds. The review supported earlier findings by Monroe County and New York City officials amid ongoing secrecy from the Task Force on Organized Crime.
Raleigh AP reports forecasters predict record opening day averages of 77 dollars per hundred pounds or more for the North Carolina Virginia Old Belt flue cured markets. John Cyrus of the NC Department of Agriculture cites a 6.7 million pound opening sale forecast amid restricted schedules and industry limits to about 80 million pounds weekly capacity.
Senator Edmund Muskie a leading 1972 Democratic presidential candidate was slated to meet Governor John West and South Carolina party officials in Columbia as part of a campaign stop.
Four youths died Sunday night in a prearranged race near Richlands North Carolina. Douglas Gene Davis 17 Wanda Kay Dail 16 Sherrill Moore 16 and Gurman Hobbs 20 per state Highway Patrol. Two 16 year olds in another car were arrested Daniel Brinkley Jones Richlands and Randall Haywood Sanders Rt 1 Richlands released on bond and scheduled for Oct 5 hearing. Davis car was going over 100 mph and demolished.
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