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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Sep 28, 1971
Page
2
The Dow Jones average rose 1.53 to 885.00 at noon as declines still outweighed advances on the NYSE. Analysts say investors remain discouraged by the market’s lack of rallying power amid recent trade deficit data and weak consumer sentiment.
New York Exchange market activity shows selected afternoon prices across major sectors with notable gains and losses. Traders monitor energy and financials as daily movements influence closing expectations.
The American Exchange faces bankruptcy or receivership proceedings or is undergoing a reorganization under the Bankruptcy Act. The note references foreign issues subject to an interest equalization tax and securities assumed by such companies.
Unclear OCR text shows partial Dow Jones indices with scattered figures for Transports Utilities Bonds and Industrials. No coherent narrative or explicit market change is readable.
AP reports at noon the New York Stock Exchange shows minor changes across indices. The industrial average stands around 46.23 with transportation and other sectors showing small movements amid trading activity.
London reports a second round of talks among Prime Minister Heath and Irish Republican and Northern Ireland leaders with no clear signs of progress toward a truce in Ulster. Violence continued as discussions proceeded at Chequers, with all three leaders under pressure not to concede.
NASD inter-dealer quotations as of 11 a.m. show bid and ask prices for firms including American Furniture 10 11 percent, Carolina 1 2 percent, NCNB Corp 89 40 percent, Public Service of NC 11 percent, and others with varied figures. Markets update through the day with no retail markup or commissions included.
Lowe's Companies announces all time highs for the 1971 fiscal year ended July 31 with sales of 169.72 million up 32 percent from 1970 and earnings of 6.55 million up 34 percent. Earnings per share rise to 1.56 from 1.16. Fourth quarter sales reach 58.01 million with 2.61 million earnings, EPS 0.62.
C. L. Hiatt, president, announced Dixie Furniture Industries Inc will rename to House of Hiatt due to a name conflict with Dixie Furniture Company of Lexington. Plants are located in High Point and Walkertown.
The House Government Operations Committee approved a consumer protection agency bill 24 to 4 despite Nader’s protests. Chairman Holifield called it landmark and not perfect, while Rosenthal criticized the rewrite weakening the measure. The bill would create an independent agency to advocate for consumers with a 15 member advisory council and status for the Office of Consumer Affairs.
About 50 black officials and strategists from across the country met in secret in Northlake Illinois to advance five committees for fundraising meetings and future strategy papers. They discussed pushing black influence within the Democratic Party including a favored son and a black presidential candidate and agreed to meet again in 30 to 70 days at an undisclosed location.
Guests including Richard Nixon and Julie Eisenhower attended a ceremony for Mamie Eisenhower with Ethel Merman and Lawrence Welk performing. The West Point Glee Club presented a music box as the 80 singers sang Army Blue, and First Classman Glen Harper kissed Mamie. Nixon quipped about Nader as the box initially failed. Mrs Eisenhower named military wife of the century and held a rare press conference revealing her formula for a mar.
Lt Gen William R Peers who led the My Lai inquiry testified at Col Oran Hendersons court martial that Henderson was suspected early of trying to cover up the massacre after his first testimony diverged from other evidence He warned Henderson on Dec 11 that his testimony could be false or memory lapses and possibly an accessory after the fact Henderson declined legal help until Feb 13 amid charges of making false statements to various people at various times.
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