Market slides as banks hold prime at twelve percent
New York stocks fell sharply led by glamors and blue chips. The noon Dow Jones industrial average dropped 9.93 to 653.79 as analysts cited fragile technical conditions after last week's rally. Disappointment grew over banks not cutting their prime lending rate despite declines in key rates. Citibank and First National Bank of Chicago kept their prime at 12 percent, adding to the downbeat tone.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Citibank
First National Bank of Chicago
New York Stocks Mixed With Broad Market Chares
The New York Stock Exchange and American Stock Exchange reported a blend of gains and losses led by blue chips and industrials. Notable movers included General Electric, Coca Cola, and Pfizer with mixed price action amid the day’s trading.
High Point Enterprise Route to Daily News and Rates
The High Point Enterprise, established 1884 and based in High Point North Carolina, publishes daily and Sunday editions with subscription rates listed for various terms and delivery options. The notice mentions Associated Press rights, postal classifications, and advertising representation details.
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High Point Enterprise
HGH Point Enterprise
TNC
Church Avenue
High Point
N.C
Associated Press
Carriar
AP News
Post Office
iHigh Point Enterprise, Inc
I. Ward-Giftith Company
NASD Bid Asked Quotations Inter Dealer Prices
Inter-dealer prices as of about 11 a.m. reflect NASD quotations. Markets change throughout the day and prices exclude retail markups, markdowns, or commissions. Data supplied through the High Point office of E. F. Hutton & Co Inc.
MENTIONED IN THIS ARTICLE
High Point
E. F. Hutton & Co, Inc
Frost, drought devastate Upper Midwest corn and soy crops
Severe spring storms and a summer drought followed by an unseasonable frost damaged immature corn stands across Iowa Nebraska Minnesota Wisconsin South Dakota Illinois and Michigan. ISU agronomist estimates Iowa corn losses at about 40 million bushels and soybeans losses likely more than double. Farmers face possible 15 to 20 bushels per acre in hard-hit areas and higher feed prices as livestock producers cut back.
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Iowa
Nebraska
Minnesota
Wisconsin
South Dakota
Illinois
Michigan
Goeppinger
Harvey Thompson
Iowa State University
Floods recede as refugees seek food in Honduras
Hurri cane Fifi floodwaters fall in the Aguan valley northeast Honduras. Hundreds shelter in school classrooms while food and clothing are scarce. Officials tally Honduran deaths at 7500 to 8000 with thousands burned or buried in Ulua and San Pedro Sula areas. Banana crops ruined. losses near 500 million dollars. Emergency committee to study rehabilitation. international aid urged.
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Tocoa
Honduras
Aguan
Ophelia Perez
Fifi
Aguan Valley
Ulua Valley
San Pedro Sula- Choloma
John Taylor
Boston
United Brands
Manuel Acosta Bonilla
Tegucigalpa
Newsprint Price Hike Predicted
NEW YORK AP analysts forecast another round of newsprint price increases after Price Paper Co announces a 25 percent rise to January 1975. The 30 pound newsprint climbs to 250 65 a ton from 234 65. Price cites higher fuel wood pulp and chemical costs. The firm supplies the New York Times and Washington Post. Other producers cite rising costs but won’t discuss future pricing.
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New York
Price Paper Co
Canada
Price
United States
New York Times
The
Washington Post
Rockefeller Faces Questions Over Wealth and Navy Contract
Rockefeller testifies on his family wealth and denies using it to influence actions. He defends his independence while lawmakers scrutinize his role in the 1972 renegotiation of a Navy F14 fighter contract with Grumman Aircraft on Long Island.
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Ford
Rockefeller
Navy
Grumman Aircraft Corp
New York
Long Island
Economists Back Inflation Bill Package At DC Conference
Twenty one economists endorsed a 22 item package to curb inflation by relaxing government quotas and boosting competition. The plan, led by Thomas Moore, would repeal meat import acts and farm import quotas, ease trucking entry barriers, allow licensed airlines broader market access, and end resale price maintenance. Noted dissent came from J Kenneth Galbraith and Nat Goldfinger who called proposals irrelevant to inflation. Alan Greenspan said no consensus was expected, but discussions narrowed potential monetary and fiscal decisions ahead of Ford summit.
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New York
Ford
Washington
J. Kenneth Galbraith
Harvard University
Nat Goldfinger
Afl-Cio
Thomas’ Moore
Hoover Institution
Alan Greenspan
Greenspan
Missing Mechem girl seized in ransom case
Witnesses saw a man in a light haired, 12 to 14 year old white car pull a girl on a tricycle from a neighborhood street. The girl Allison Mechem was taken to a car. Police later found a ransom note and the girl’s shoe in the car. A university student pursuing the car reported losing it in traffic. The suspected ransom demand was $2000 amid concerns over the kidnapper’s mental state.
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Allison
Ron Laker
Mechem
Chief Justice Burger Remains Hospitalized After Accident
Chief Justice Warren Burger stays in a Washington hospital for several days for tests after a bicycle crash caused a broken rib and facial cuts. He was hospitalized following the incident, with doctors monitoring his condition and determining next steps.
MENTIONED IN THIS ARTICLE
Washington
Warren E. Burger
Free Seeds Plan Faces House Vote in Capitol
Rep James A Burke proposes a government seed and plant distribution program to aid home gardens next spring. The bill would allocate six million dollars of seeds and plants, potentially yielding about three hundred ninety million dollars in vegetables and spurring a back to the soil movement amid calls to curb waste and conserve resources. Burke predicts swift congressional progress with aides noting the measure is moving ahead.
MENTIONED IN THIS ARTICLE
Washington
U.S
James A. Burke
Burke
D-Mass
Fulbright Declines British Ambassadorship Offer
Senator J William Fulbright of Arkansas has declined a post as ambassador to Great Britain after leaving the Senate next year. A spokesman cited personal reasons and said the decision followed his recent defeat in a primary. The offer was extended by President Ford while Fulbright toured China with a congressional delegation.
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Washington
J. William Fulbright
Great Britain
Senate
Fulbright
Ford
Walter H. Annenberg
China
Connally Seeks Dismissal In Milk Price Support Case
Former Treasury Secretary John B. Connally asks to dismiss all charges tied to alleged $10,000 payoff for aiding a 1971 rise in milk price supports. Motions urge Judge Hart to throw out bribery perjury and conspiracy counts or move trial to San Antonio near Connally's cattle ranch.
MENTIONED IN THIS ARTICLE
Washington
Treasury
John B. Connally
U.S
George L. Hart Jr
San Antonio
Tex
Connally
Courtroom call to settle Nixon pardon questions
Federal Judge Charles Richey suggested resolving questions about the Nixon pardon in a trial court as he postponed action on obtaining Watergate tapes for related civil suits. The hearing ties to suits arising from the Democratic National Committee break-in on July 17, 1972.
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Washington
Richard M. Nixon
U.S
Charles R. Richey
Richey
Nixon
Supreme Court
William J. Brennan Jr
James W. McCord Jr
Ford
White House
McCord
Democratic
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