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Newspaper
Las Vegas Sun
Location
Las Vegas, Nevada, United States of America
Date
Oct 08, 1977
Page
17
A bullish market column argues stocks are cheap relative to book values and replacement costs, predicting that asset plays will drive growth. It highlights takeovers and mergers as cheaper expansion methods, notes rising dividends, lower inflation, and a strong nine month outlook with GNP growth above five percent.
Chicago Mercantile Exchange reports a Wednesday open interest record of 133,923 contracts, driven by gains in the international monetary market. Everette B. Harris notes hedging use by commercial traders and shifts by speculators. Heaviest international figures include 21,696 gold and 11,099 U.S. Treasuries. A Rolls Royce ads note promotes the Silver Shadow in Las Vegas.
New Concord model debut at Jim Marsh AMC’s cocktail party on Tuesday October 4 with Phillip G. Praetorius El Segundo California WT Kray Southfield Michigan and dealer owner Jim Marsh present comparing the Concord to the 1978 AMC line at 2570 So. Eastern Ave.
Sears, Roebuck and Co. reports gross sales for the five weeks ending Oct 1 at 1.836 billion plus 524,030 dollars, up 19.1 percent from last year. Arthur M Wood notes gains across durable and non durable goods nationwide while the 35 week total climbs to 11.786 billion, up 15.8 percent from 1976.
7-Eleven donations reach 4 738 to Las Vegas Valley Zoo making them the largest cash donor. The annual Save a Living Thing drive at the J C State Fair raises funds from slurpee sales at a special 7-Eleven booth. Bob Hitchcock handed the latest check to Jim Coburn while Wyn Speake presented a plaque marking four years of gifts.
Country Living Builders Inc a former Oregon home builder transfers its operations to Las Vegas Kenneth and Joan Clark own and run the firm with their son Dale and son in law designer Jerry Sacre They commence a custom home on Sunrise Mountain Sunridge Estates and plan additional starts They affiliate with the Southern Nevada Home Builders Association and join the Greater Las Vegas Chamber of Commerce Country Living offices are in the Alexander Dawson Building 4045 South Spencer Street.
Safeway Stores Inc reports unaudited consolidated sales of 7.6435 billion for the 34 weeks ended Sept 10, up 6.7 percent from 7.161 billion a year earlier. Net income for the first 36 weeks 1977 is 68.6 million, or 2.XX per share, with LIFO inventory charges and foreign currency translation impacts noted. In the 12 weeks to Sept 10, third quarter sales reach 2.6191 billion, up 7.2 percent from the prior year. net income 16.7 million or 64 cents per share. 79 stores opened, 86 closed in the period. total stores 2,431.
The Dow fell 1.73 to 840.35 as banks boosted prime rates and the Fed signaled tighter credit, offset by reports of improving jobless figures and rising leading indicators. Volume eased on NYSE and NASDAQ with mixed moves among major issues and notable activity in Great Western and Sony.
The United States shows increasing use of American made table wine according to the new American Wine Market Review and Forecast. The report highlights a sustained upward trend in wine consumption in the country.
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