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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 03, 1970
Page
13
Snapshot of trading activity on the New York Stock Exchange includes detailed scan of stocks, indices, and market movements. It notes active securities, price shifts, and notable volume, with emphasis on leading names and financial indicators shaping intraday results.
UPI reports New York Stock Exchange activity mixed as prices declined. Dow Jones industrial average hovered near 192.05 with broad declines in Continental Oil and major industrials. Electronics and crafts sectors edged lower, while several names posted small losses amid market hesitancy.
San Francisco reports a shortfall in the Longshoremen and Warehousemen's Union fund set to compensate sea workers affected by automation. Some longshoremen with vested rights could have claimed up to 13,000 dollars and left, but chose to stay and defer cash. A March deadline looms for those considering exiting the industry, while the union notes the fund may still cover death and disability benefits. The Pacific Maritime Association contract set 16 million as a fixed payout through next July, with a projected total shortfall of about 1.6 million, prompting talk of seeking extra contributions from shippers.
One hundred prisoners were transferred this week from the Soledad prison to San Quentin and California Men's Colony near San Luis Obispo to curb violence after a fatal prison yard clash. Officials say the north facility has been largely emptied, guards have stepped up patrols, and the move follows multiple inmate assaults and killings involving white, Black, and Mexican American prisoners.
Washington sources say new tax rules will spur redevelopment of slum housing by offering five year write offs for rehabilitating low and moderate income units. The Treasury plans to publish a clarification in the Federal Register Tuesday outlining provisions that could steer about 8005 million in savings to investors over time.
Pilots union and United Airlines reached an impasse after eight months of negotiations. Day eight plan strike ballots and mediation efforts by Nation Mediation Team spokesman Adi Glover. Pilots are currently working under a tentative agreement pending a final contract settlement.
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