High Point Enterprise Newspaper Archives Sep 26 1976, Page 6

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High Point Enterprise (Newspaper) - September 26, 1976, High Point, North Carolina 6a High Point Enterprise sunday. September 26, 1976 business Mirror business Bottest Over Reliance on figures sales representative Leon Trotter has joined the staff of Bob Vaughn realtors As a sales representative a Thomasville native Trotter attended East Davidson High school and appalachian state University. Leon Trotter Trotter is married to the former Karen Ann Sledge and the couple resides in Thomasville. He is the son of or. And mrs. Raeford Trotter of Thomasville. Trotter received real estate training at Lee Institute in Greensboro and has worked in the residential Home building business for six years realty appraisers Greensboro a w. Gordon Cole has joined John m. Mccracken to form John Mccracken and associates real estate appraisers and consultants. Cole a graduate of North Carolina state University was formerly vice president of Stockton White and . School graduate t. K. Amos recently graduated from the graduate school of savings and loan at Indiana University. Amos is executive vice president at perpetual savings and loan Assn. The school conducted by the Institute of financial education in cooperation with Indiana University is a two week intensive education for Perso n s in managerial and supervisory positions in savings and loan associations. Students attend three years to Complete requirements Amos is one of 90 students who successfully completed the first and second years of the school and wrote a thesis on a savings and loan problem Between the second and third years. T k. Amos thesis topic was a reorganization plan for perpetual. Salesmanship Robert d. Harriss a representative of the life insurance . Of Virginia s Central Carolina Agency Here. Recently completed a week Long advanced salesmanship school at the company a Home office in Richmond a. Harriss was one of 29 representatives from throughout the company selected to attend the school the curriculum featured innovative techniques in client service. First Union Charlotte the Board of directors of first Union corp. Declared the regular quarterly Cash dividend of 23 cents a share which is payable december 20, 1976, to shareholders of record on november 15, 1976. The declared dividend is equal to the last quarterly dividend paid on september 20, and to the dividend paid on december 15, 1975. First Lunion corporation is a one Bank holding company whose principal subsidiaries Are first Union National Bank and Cameron Brown company. Stock split Roanoke shareholders of Norfolk and Western railway . Voted to approve a three for one split of the company a common Stock. The split was approved by the holders of approximately 79 per cent of the outstanding Stock Well in excess of the required two thirds vote. Trade winds textile exhibition Greenville . Advance registration from the United states and nearly 50 other countries indicates More than 25,000 executives and engineers will visit the american textile machinery exhibition International at textile Hall Here october 21-29. More than 3,200 Are enrolled in the Blue badge brigade a group of top Echelon executives who attend by invitation during the preview Days of october 21, 22. 23 when the restricted admission allows better oppor to Unity for conferences Between management of machine builders and textile manufacturers. Special courses Greensboro a the school of business and economics at the University of North Carolina at Greensboro has entered into an agreement with the american management asses. To offer two special courses for area businessmen beginning in october the classes Are a the management of personal Selling Quot which will begin oct. 7, and Quot accounting for managers Quot which will begin oct. 18, each course will meet for 2va hours at night once a week at unc a for eight weeks. A course fee will be charged. Complete seminar Pilot life insurance Home service staff manager h. A. Edwards and sales representative w. A Boling have completed an intensive one week seminar in sales techniques conducted at Pilot s Home office in Greensboro nursing Home Pellcore corp. Of Winston Salem recently filed notice of intent to incur a capital expenditure for the purpose of leasing lambs nursing Home located Here. The project proposal has been submitted to the . Dept of human resources for review by planning agencies Binder provisions of the social Security amendments of 1972. The planning agencies in examining the proposal will seek to determine whether the project is needed if it can be adequately staffed and operated whether it is economically feasible within prevailing rate structures and if it proposes specific Cost containment features. Buyers should beware of currency contracts by Lou Schneider North american newspaper Alliance new York a caveat emptor let the buyer beware should be posted throughout All countries wherever americans reside. Reason to keep them from investing in securities containing multiple cocktail currency clause con tracts a or any investment with such contracts. Many wealthy institutional investors in popular eurobond Arentt aware that their multiple currency contract clauses a giving the Bondholder the option of payment in . Dollars or other currencies a Are not enforceable in . Courts. Advisors say slowdown Over new York Nana it All economists in the Ford administration and in Stock brokerage offices feel certain the economic slowdown is at an end or nearly so. John Kendrick chief economist at the Commerce department says the recovery is maintaining its momentum and that this is the time to dispel also that the slowdown from the first Quarter s Sharp growth is a Good development Alan Greenspan chairman of the president s Council of economic advisers insists we Are in a pause in the economic recovery but that a the Basic underlying recovery is solidly in no one at the Morgan guaranty Trust of new York refutes the argument that the Economy May be in a recovery but the Bank s economists Are cautions they say the slowdown from the first quarters Sharp bulge looked natural but now there appear different items that Tell a different Story examples the sluggishness in retail Trade despite the zooming of Auto sales and the Rise in unemployment say the mgt economists a a Good Deal of uneasiness now exists that the economic Advance May be tending to stall rather than merely to most worrisome in this regard is the puzzling failure of retail sales to grow in line with personal income expansion and if july sales Are seasonally adjusted it will be found it was no higher than it had been in March Quot and the nominal Dollar totals for retail sales understate the actual degree of softness that exists because Tho prices of retail goods have continued to move higher. Retail sales probably declined at an annual rate of 5 per cent to 6 per cent Between March and july Quot note the Morgan economists. They Are realists but like All economists they Hope the recovery will resume and soon. Now this comment Quot temporary periods of sluggishness in consumer buying of similar duration have occurred in past business Cycle expansions and then have Given Way to resume uptrend. This is the most reasonable expectation now. Given the strengthened financial position of households. A a reflection before you begin worrying today try to remember what you worried about yesterday even Wall Street investment firms dealing in eurobond Are unaware of the still binding . Supreme court decision arising from the june 5, 1933, joint congressional Gold Resolution. And the . Treasury a efforts to make the sir special drawing rights the worlds denominator for internal i onal payments Are nullified in so far As americans Are concerned when it comes to making sir denominated payment contracts. There were two major cases involved in 1939 before the . Supreme court. These were guaranty Trust . Of new York is. Henwood and Bethlehem steel . Is. Zurich general Accident and liability insurance . Ltd. In both cases which involved american companies and which included promises to pay in Gold dollars or in other currencies the supreme court held that the 1933 joint congressional Gold Resolution which banned americans from owning Gold applied to the option. It is the opinion of . Treasury officials even now after the restoration of the free Gold Market a car sales on increase new York Nana automobile factory sales thus far this year Are Well ahead of last year Chrysler shows a gain of 36 per cent general motors a 35.5 per cent gain Ford a 25 per cent gain but american motors reports a 23 per cent drop compared with last years period because of ear buyer Rush for larger Model cars leads to wrong moves As of dec. 31, 1974 a that the 1933 Resolution is still valid in that Gold cannot be used As Money. Even though the Treasury believes a change in the Law with regard to Multi currency clause contracts would be desirable. Congress has twice failed to get such an amendment passed a h. R. 15311 june la 1974 h r. 8324. June 26, 1975. Dealers and specialists in foreign Bonds and foreign Mutual funds Are offering some a a cocktail securities to americans. These issues must be registered with the securities and Exchange commission and the prospectus must disclose this Legal problem a the 1933 Gold Resolution Uncle Sam has become the banker new York Nanai a Why has corporate Bank loan demand slumped so sharply this year because Uncle Sam has become the banker for Many of the nation s larger corporations an economist at one of new York s leading Banks because of a quirk in the tax Law. Corporations in 1976 have an extra $15 billion to $17 billion in Short term Cash on hand the irs gives companies a Choice of paying their taxes on the basis of this year s estimated profits or on the tax payments they made in 1975 it is generally expected that corporate earnings this year will run 30 per cent to 35 per cent higher than 1975 thus most companies Are paying on the basis of the 1975 lower earnings. But cautions the economist the remainder of their lax liability will catch up with them Early in 1977 by John Cunniff a business analyst new York apr As we in America become More de pendent on computer produced numbers to Tell us the state of the Economy it behoves us from time to time to ask questions about those numbers. Ii the numbers Aren t Correct done to we risk making incapable bad decisions in investments in tax policy in politics1? As with any numerical products the economic statistics that guide such decisions Are Only As Good As the Validity of the concepts involved the correctness of techniques and the Quality of the raw data to he processed. With this in mind. A person scanning the jobless figures for 1976 might have reason to pause and Ponder. These figures As popularly and officially used Are seasonally adjusted to offset temporary factors. If we look at the raw data a that is unadjusted a we find that there were 8.174.000 people without jobs in january 1976. But Only 7,577.-000 without jobs in june. If we now look at the seasonally adjusted data we see a different Story. In this column we find that there were Only 7.290.000 without jobs in january but that there were 7.426.000 unemployed in july a which Way did unemployment go Down. As in the raw count or up. As in the seasonally adjusted figures ? do we accept the raw count or instead the formulation of the statisticians0 the official jobless rate is based on the adjusted figures it is on this rate that steel Price Rollback has Little effect new York Nana Henry Ford ii head of Ford motor ., said the Rollback of the announced Price increases of steel saves Only $3 per car in steel costs that would have been included in the Price boost the Rollback Only postpones another Price hike. Law president Leonard Woodcock said the eventual wage gain agreement for labor can be absorbed by the automotive Industry without pressure on car prices or on the National Economy meaning no inflationary Impact higher prices for food seen from drought governmental decisions Are based and the millions of voter and investor decisions it is also a rate that based As it is on a somewhat arbitrary formula at Best is a Good estimate. At the end of the year these adjusted figures Are often revised which is to say corrected. A simple set of numbers in the june 1976 Issue of the Federal Reserve bulletin also offers reason to reflect on statistical procedures. It refers to expansion in Industrial production As an annual percentage. From 1946 to 1963, the fed reports Industrial production Rose at an annual percentage of 4.2 per cent and from 1963 to 1974. It states the annual increase was 4 6 per cent but. Combining the two periods the fed reports that from 1946 to 1974 the annual percentage increase in Industrial production was 4 7. A conclusion you May note that is greater than the components. Moving on to the Index of leading indicators we find Here one of the most closely watched barometers of the Economy a a barometer not a thermometer it is supposed to foretell rather than measure past or present. Beginning in late 1970. The Index continued rising into the third Quarter of 1974 relying upon it. One economist after another forecast a continuation of expansion. Even As the Economy was falling apart even the president of the i United states was fooled or. To put it More accurately his economic advisers were fooled these embarrassed economists were just too trusting Pierre rein ret the consulting economist was too perplexed to let the matter rest and he thereby avoided some of the pits into which his colleagues fell. Examining the figures. Rein ret concluded that the problem had to be with the concept. Most of the numbers in the Index he observed were in value terms such As the value of new construction this being so obviously the Index was inflated As badly As the Dollar which was used to measure its components. The Index was rising and pointing to further expansion. Because prices for everything were rising deflated the Index clearly and accurately showed that trouble was brewing for the Economy trouble that came in the shape of the worst recession since the great depression of the 1930s. Moral when we get so used to the numbers that we done to Heck them out we ran get into an awful lot of trouble Jarrett a Good place for office supposes since 1902 Jarrett stationery . I04� h Reno St. Phone new York Nana drought in the farm Belt is a Tipoff of higher food prices reason in addition to the smaller than expected Grain surplus. European communist countries Are pushing their purchases because As previously disclosed Moscow has informed its satellites that they cannot have extra supplies read the Enterprise classifieds parents rent our Luzer piano for beginners Call 273-6907 Grey Quot Tbs to 765-1730 Winfo-5ol�r month serving Munt Idu Titan Jee arson i a u 5 in . A 224 n. Elm St. Greensboro Hanes Mau Winston Salem amp Day knights in Taco. Mexico City Acapulco from s159 per person plus airfare Combine cosmopolitan Mexico City quaint and historic Taco with the famous resort beaches of Acapulco at a Nice savings a includes 3 nights in Mexico City i night in Taco and 3 nights in Acapulco at your Choice of hotels certain meals with each hotel guided Tours deluxe motor coach Between cities fiesta cruise on Acapulco Bay transportation Between airports and hotels and room taxes. Contact t your aaa travel agent for More details. Name address Tele Nhor 1 Mucho cosh world travel Agency Carolina motor club 75� North main St. Highpoint Tel 919 882-812o set blues Winters ?060 Brent Woods High Point 27761 p o Box 2103 phone 8 8 5-4034 77 models now arriving year end savings on 76 models in Stock. Discuss your lease or Purchase plans with Howard stuffs Tarry Forrester or William Bell have a cup of Coffee on us while you wait a you May not half time to finish. Fast Quality offset printing single or Mulit color offset up to 18"x25&Quot Sheet it makes All the difference in the world when you lease from us Merton Thiau am Tlam i Alu in Thi Iau acidic an City of High Kini 701 709 i mom 885-4091 Xerox copies and Blue line prints made any time Quot the High Point of service and savings Quot phone 885 4cf34 in the Freeman Assoc bldg. Utility Bills Are g u a r a n t e e d s a v i n g s Oil Gas save up to each month on your electric and heating Bills by installing Quot the Home Energy Saver Quot Homeowner Jerry Tucker 222 bul four Archdale n Chas shown tremendous savings with his system. Jerry says. My electric usage dropped from 2500 Kwh to 1300 Kwh per month without any changes in our Comfort at Home for your Home Energy analysis act now. Call 883-041 i 9 a m. To 9 p m. g u a r a n t e e d s a v i n g s reply to Home Energy Saver of ., inc. 141 Linden ave. . Box 1738 High Point . 2 7227 j name Phorn it address d please Contact me concerning a Home Energy any i

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