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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 30, 1971
Page
7
UPI report on New York stocks highlights erratic trading as prices fluctuate across major issues. Analysts cite mixed earnings, shifting market sentiment, and ongoing fiscal concerns influencing daily quotes and volume.
U S. judge and congressman pressed for resignations as Texas figures face profit claims from stock dealings. Smith admitted earning 25000 on NBL shares and split with Elmer Baum while Mutscher faced SEC depositions linking him to stock profits. A Catholic order warned of losses while Sharpstown Bank faced closure by government action.
In San Diego the Navy deployed a new cleanup vessel with vacuum skimmers to handle a congealed oil spill sweeping from the Western White House area toward Mission Bay. About 153 sailors labored on beaches while another craft was converted from a landing ship to assist, following a tanker oil spill earlier that month.
United California Bank pledged not to raise any interest rates this year in a full page ad. The bank invited other banks to join to fight inflation, saying the pledge covers all personal and business credit and all loan types including auto, real estate, and home improvements.
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