High Point Enterprise Newspaper Archives Sep 29 1974, Page 6

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High Point Enterprise (Newspaper) - September 29, 1974, High Point, North Carolina 6a High Point Enterprise sunday september 29, 1974 Greenspan economics bothers politicians by Ray Hubbard by John Cunniff a business analyst York a Wall Street brokers said Alan Greenspan have probably suffered More from inflation on a percentage basis than anyone else. He said that to Union leaders and others concerned with problems of the poor. Greenspan the chairman of the president s Council of economic advisers is either lacking in political savvy or simply is doing what he feels must be done that is talk bluntly. Greenspan told the Senate House economic committee on thursday that his state a rent about the stockbrokers was statistically Correct but he regretted its Lack of clarity. A fall segments suffer seriously from inflation Trade winds including the wealthy. But i was not suggesting that stockbrokers suffer the most. Obviously the poor suffer the most a he said. Any recovery from inflation is going to be painful he has stated time after time. Inflation cannot be Defeated quickly he states flatly. And he scorns Short term solutions blaming them for creating Long term problems. He has suggested that inflation is primarily a financial problem and some critics think he might believe everything to do with inflation can somehow be reduced to a mathematical equation. This provokes the question what role does leadership play Many economists believe that part of the Job of Licking inflation is belief Vou can do it Greenspan Seldom if Ever refers to that route. His solutions Are in the opinion of Many economists businessmen and labor leaders fighting to understand the problems straight from the Book devoid of innovation and political Appeal. Many of the proposals suggested by legislators economists and others already have been discounted by Greenspan almost automatically As if by reflex rather than reflection. The allocation of credit for instance would cause a distortions a in Greenspan a View although some proponents claim it would help balance the distribution of funds especially to housing a proposal to encourage people to spend less and save High interest rates expected for awhile by Lou Schneider North Vurr Letb newspaper Valliant ? York readers write asking in t it a fact that the Federal Reserve has begun to soften its restrictive monetary policy answer no. It is not a fact. In the past few weeks the fed has eased its stiff credit policy a notch or two. This via allowing the Banks to reduce the 8 per cent Reserve requirements on Lon term negotiable time Deposit cd to 5 per cent. Aim to help Shore up a deteriorating credit Market. But the action Isnit As much a a ease As suggests at first Blush. There Are outstanding some $88 billion in cd with an average maturity of Only 2.1 months. Thus the reduction in Reserve requirements As of sept. 25 will Only loosen about $400 million in available credit. The fed s accommodation at this Point does no to indicate an abandonment of its firm credit policy objectives which is tied to the trend of inflation and which continues to Roar along at an excessive rate. President Ford has not decided to pressure the Federal Reserve to relax its tight Money policy. He will include that policy in his economic program a to be announced in full Early next january. Treasury Secretary William Simon agrees with the fed s tight Money policy. So does Alan Greenspan chairman of the presidents Council of economic advisers. They want it to continue a for a sustained period of time to tame inflation. Money men know that fed chairman Arthur Burns and president Ford Are close friends. President Ford has mentioned a few times that Money rates and Supply a fall into the preserve of the Federal Reserve ifs no secret Burns is a tight credit Man. More by reducing the income tax bite on interest was received by him with Little enthusiasm. It wont change habits he suggested. Greenspan a program would begin with cutting government spending an approach that perhaps a majority of economists favor As a theoretically pure route to the solution but which politically minded legislators fear. How can you Cut spending without slicing a program dear to someone a constituency you can to and that in effect is what Greenspan has been telling congressmen that the anti inflation Battle must Hurt. While Greenspan a fundamentalist Long term and unimaginative approach has Appeal to theoreticians it is apparently beginning to grate on the nerves of legislators. Beautiful in theory they say. Textbook economics does t always apply in a real world. The world is made up of people not numbers. Numbers might be manipulated and people too but the latter Are far less predictable. Nobody knows this More than politicians. Stock quotations by tse Assenat Presa Coce coie co. Con. 4x4 a quotation from the National Assoc colonial Lite cd b a a action of securities dealers a represent Conner Home �4 Iva native Intaro Zealar prices As of approx context in 1a mately 3 to . Daily. Prices do not in Daniel internat ism met clude rated Mark up Mark Down or com Dismond feed corp. 244 34 Mission Durham Lite in. 12 134 by a %ko6 fun graph inc. 446 s 4 american furniture 2u a Fidelity corp of a. I 7 -16 i 9-16 Bankers Trust of s c. Is Mvi first Mississippi corp 43 a 43m Bassett furniture Tim Pic corp 44 44 Bilo 14 feb of Catawba Ion Usu blocks my in 2 food town store is1 my Brenner my 4 4 a Farmer world 30 is 32 a Burnup t Sims i 4 a Forsyth Bonk amp Trust la 12�?Tt Burn my in. Ave Frankiin Lite ins. Mum Cameron finance a Hio a Gen. Financial 3 any Cannon Mill to i0w guardian corp 2m a Carmine food in in Henredon furniture 9>4 in a i Cero line Ca in. 2ta in Hickory furniture a 4<t car. Pal a i opt 76 non investment Lite a try to 14 to Carolina i Flo. To a j. B Ivey 4 a 5 Cato corp 36 a Jack food 24a 3 it control Caro. Bank is1a a Kanan transport 8x4 none Contra Vermont i a Xvi Lance inc. Sex my charter Bench Fri. Com 4v� s Lane co. La is 1? Chatham mfg. 7 by i egg att amp Platt a 6 cars corp of s c is 14�?Ta life a Urance olt Carota to Dow Jones 30 industrials lower Companie Mack s store mid soum in. Multimedia a cab corp no natural a North vue Fin. Corp. Nowe to Fin in it no West Fin inv comm Occidental life in Phillip focus piece Good shop Piedmont aviation Piedmont real est in Public Scot . Qualify Mill Pic corp Rahall comm Reid provident lab Rex plaint Salem carpet sea Pine service merchandise honeys big boy Monoco product so National corp. Southern net. Corp spartan food by tem super Dollar store Synerson corp Gelerent leasing textile my. Thalhimer Bro. Tranco companile unify inc. United Caro Banc Hare Virginia International Virginia Natl. Bank . Walker shoe Wathington group Witt knitting White shield co. Wix corp. Wright machinery 2m 22fe 3�?T4 a 9 la a i i a 4�?Tj i a la i Vul 4 4 Xvi 64 5 4 2v� 2v a 3 3 4m a 17v it >4 Marn 4 a in a a Iuna fab 12 a 9 14 a jul ii Market loses the Dow Jones Industrial average closed at 621.95 Friday Down 48.81 from the week prior. The associated press average closed at 201.4, marking a decrease of 10.4 Over the same period. The Market lost All of the previous weeks gains during the past few sessions As gauged by the indicators. The Dow Jones Industrial average dropped to 1962 Levels As investors continued to worry Over inflation. Even a Long awaited Cut in the prime interest rates of two major Banks wednesday failed to spark predicted rallies. He s giving to employees London of Douglas Mcminn turned his Small store into a million Dollar business in 28 years. Now he has sold his firm for about $3.6 million and has decided to give his 205 employees most of the Money. �?�1 was born broke and that a the Way in a going to die a said Mcminn 63. A any Success i had is almost entirely due to the men and a omit who have stuck by me All these years a Good be Fader Stom Tom a Thoro Stile term Murine company Horn office Bloomington a Leno a Wilbur m. Currie Ciu would like to help your family s future. Coli him at 88s-0623. Pilot exams Wayne m. Vohs chief Pilot of Atlantic Aero inc. At the regional Airport has been designated a Pilot examiner by the Federal aviation administrations general aviation District office in Charlotte. Wayne Vohs As a Pilot examiner Vohs will conduct required Pilot flight tests for the issuance of private and commercial Pilot certificates for applicants in the Charlotte District which covers approximately one half of North Carolina. At age 27. Vohs is the youngest of seven Pilot examiners in the Charlotte District. He is a native of Jackson to. As chief Pilot of Atlantic Aero inc., Vohs supervises the company a Cessna Pilot Center Pilot school As Well As the operations of Atlantic Aero a air charter Fleet. He is also an Faa designated company Check Pilot for charter operations. New manager spruance Southern inc., of Winston Salem a subsidiary of the Gilbert spruance co. Of Philadelphia pa., has announced the appointment of Earnest l. Broome As general manager. Broome succeeds a e. Schwartz who although retired retains his office As treasurer of the company. In addition to his Post As general manager Broome will continue his duties As Secretary and assistant treasurer. Earnest Broome manufacturers Assn. Holds its annual meeting at Pinehurst oct. 2-5. Linda Buck Price and allocation specialist for the Federal Energy administration Washington and James e. Harrington Secretary of the North Carolina department of natural and economic resources will be heard at the general session of the meeting on Friday oct. 4 the meeting ends Friday with election of officers. If precedent is followed. Maurice h. Winger jr., of american Enka corp., of Asheville who has been acting president and chairman of the Board since the death of Frank t. Roberts will be elected president g. J. Vincent of Dover Mills. Shelby will be moved from second to first vice president and a second vice president will be named. At gab test Boone a the admission test for graduate study in business will be offered at appalachian state University on nov. 2, and on Jan. 25, March 22 and july 12. The test is required of applicants to More than 370 graduate business schools. Registration materials for the test and the at gab bulletin of information Are available from the counselling k psychological services Center East Hall appalachian state University or by writing the at gab educational testing services. Box 966, Princeton n. Y. 08540. Transfer program helps Home owner 346 4 vaio 7 Ivr a s a a it a 66 6 i Vava to 4 in Stu i he he he a a 46 a was a i 3m u Tow a 3w 9 s 6 in in 7 7w Jet 4 4 Home owners facing Transfer in or out of High Point need not be afraid they can t become Home owners again because of today a economic conditions according to Harold Craven of Craven John son Pollock inc., realtors. A while conventional mortgages Are hard to arrange Relo inter City relocation service continues to break its own 14-year record in helping transferred families find suitable Homes a and suitable financing. Third Quarter Relo sales for the fiscal period ending in july ran 19 per cent ahead of last years previous All time record. And the number of August Home sales increased another 8 per cent Over july Craven reports. The local member serves High Point for Relo a National broker owned real estate referral service. A it takes determination established financial contacts and ingenuity to help families negotiate Home ownership in today a Market. We re working harder to suggest alternates to the conventional mortgage when necessary. Its part of Relous regular service to families who need to become Home owners in Distant cities. Craven said. A . When a High Point family plans a Transfer we May need to show them what financial facts to gather so the Relo broker where they re going can seek available financing there. Through that member they will learn at once about other financial options open to them at that end. Too. For instance a second Quarter Relo Survey of major Transfer areas shows increasingly important differences in the rate at which housing prices go up around Urban centers. Prices can increase 5 per cent in one neighbourhood and to per cent in another during the same time Frame in some Market areas. At today s housing values choosing the right communities in which to look could mean a savings of thousands of dollars for a family transferring Home ownership in the $40-45,000 Range. Craven said. A by working closely with other Relo members we can Tell transferees about Sucht current options wherever they Are going. We find financial guidance is getting to be a bigger part of our Overall Relo service to High Point families in the current housing Market Craven said. Broome is a graduate of High Point College with a b s. Degree in chemistry and has also attended Davidson College for Post graduate courses. After completing College he joined Reliance Universal As technical director for Wood finishes. Broome came to spruance Southern in june 1964 As technical director and shortly thereafter was appointed Secretary and assistant treasurer. A resident of High Point. Broome is a member of the american chemical society past president of the Piedmont society for coating technology and is presently chairman of the environmental control committee of the Piedmont society. Textile meet the states economic Outlook and the continuing Energy problem Are topics High on the Agenda when the North Carolina textile auction Claremont manufacturing co. 20 29th Street . Hickory . Large upholstery furniture Plant auction-2 Days tues. Amp wed. Oct. Is amp 2nd at 10 . 450 living room choirs 575 Solas 2000 k o. Solos and choirs. 70 two piece living room suites about 1600 Rolls upholstery cloth 40 Rolls of Pally. 2 Bond sows. 2 Large on compressors Apex Lipper machine 32 console sewing machines Model 225, 2 Apex Border machines 75 it. Conveyor cutting Tobies and cutters work benches Fork lilt. 3 trucks dust collector 3 Point Booths 8 calculators 6 elec Trie typewriters. 28 Metal files 24 desks 43 office choirs and other items. Furniture sold 1st Day. Equipment 2nd Day. Piece by piece and lots or of a whole of is us Cut to to court confirmation tor cosh or Cashiers Check only1 inspection monday to to 4 . And before auction tues Day and wednesday. Exit from Hwy. 64 70 of the cheese House attorney j. Samuel Gorham trustee 704 332 3130 Ben Hoffmeyer auction co. 1409 East blvd., Charlotte . Phone 375-4581 nights 366-4445 meet a Good neighbor of yours so a Hon tor of your Tomky disunited hoods. Fred g. Culler 102 e. Main St Jamestown 454-431 8 or 454-1098 too 0 hat Ani i often i am unrecognised particularly in the very Young i make the elderly Buller. So much they May Cut themselves off from family and friends. And they know the Heartbreak of loneliness. I Rob More than la million americans of much that is Good. I undermine their Confidence and eat away their social life. I am equally hard on the Rich and poor. I cause trouble on the Job and in the Home. Yet few of those i attack do anything to fight me because no one wants to admit i exist. J Ama hearing problem. Early detection to important to arrange for a free electronic hearing test in our office or your own Home just Call 883-1171 or Stop in at Feltone hearing Ald renter 527 n. Main St. High Point. N c c pen tues. Amp thai to 0012 of noon jobs can be giants. Cut them Down to Man size. With Quick Reb Able professional help from manpower. When Ever you re up against a tall order. Manpower 11 meow Amy be evicts Well give Xhaj All the help yet a a need. We Type letter unload Boxcar an Twer phone ill order assemble part key punch data and iou More 115 w. High St. 883-6171 we do great impersonations. So realistic you a swear the real Mccoy was Stilt on the Job and not off sick or on vacation. Naturally we can do an outstanding file clerk or Junior receptions. But our specially is the hard to get Type. The Whiz typist. I lie top notch stenographer. Just about any office personality you want for As Long As you want. Simply Call Kelly girl temporary help. Wed love to perform for you. Just dial 0 a charge Ond ask tot wx-437i High faint Felly girl of xxi re re Kry. Granville moving s storage phone 382-0151 specializing in local state amp Long distance moving i Flower 146. _ office moves packing amp crating household storage your Mayflower agent Granville moving and storage 801 s. Hamilton St. Phone 882-0151 Fred p Newby Safvi Foster Cin Sci president Craig in by. Sahs mor introducing. Glenn Corpening it no matter where you Are going. $ a a a. A m a f # the Carolina motor club makes the going easier. We Are pleased to announce that Glenn Corpening is a principal of our company. Ii i ii Ria. It i Jill la Carolina motor club 759 North main St. High Point n. C. 27262 882 8126 114 Rogers insurance Agency inc. Car a Home a health a business 882-8105 205 e. Westwood ave., High Point n. C

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