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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jan 06, 1972
Page
12
New York stocks held a healthy two to one adv over decls as Dow reaches the 900 level amid signs of economic improvement. In Kansas City cattle and hog markets, feeder calves and hogs posted higher quotes with steady to higher bids across weight classes.
IRS officials in Wichita report about 600 weekly inquiries on Phase 2 price guideline violations. Formal complaints average under 24 per week, with many inquiries settled verbally. The AFL-CIO affiliated Wichita labor federation forms a committee to monitor southern Kansas prices for IRS reports.
Ar Imco Steel Corp matched U S Steel cuts as industry sources report a price war. U S Steel lowered hot and cold rolled sheet by 5 to 8 per ton and cut merchant quality steel bars by 25 per ton, prompting rival moves by Inland Steel and Bethlehem Steel.
U S auto sales topped 10 million for the first time in 1971 with a final total of 10,155,411 vehicles including imports. General Motors led gains with 4,653,494 cars, Ford rose to 2,377,357, Chrysler 1,388,070, and American Motors 256,973 amid importers remaining strong but affected by surcharges and strikes. Toyota and Datsun posted gains while VW declined.
A north side fire in Maryville Missouri destroyed nine businesses on the town square, causing an estimated loss of 500000. Brisk winds and near zero temperatures hampered extinguishing efforts as 19 nearby communities aided the 20 firefighters. No injuries were reported.
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