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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jul 05, 1974
Page
12
Prices edged lower in one of the stock market's slowest sessions in years as the July 4 holiday forced a four day weekend. Banks moved to raise the prime rate with a third quarter point increase, and the Dow dipped 110 to 781.77 while NYSE volume fell to 7.40 million shares. The composite index slid to 47.60.
A July crash at Carowinds when a tram struck a monorail support injuring 41. spokesman C C Eadson called it a freak accident amid strict safety rules. Most victims were treated and released. no admissions. The bus driver distraction caused minor vehicle damage. park operations continued.
Five major New York City banks led a national rise to a 12 percent prime lending rate. Banks First National City Chase Manhattan Manufacturers Hanover Morgan Guaranty and Chemical Bank moved up from 1 percent, with Bank of America remaining at 4 percent.
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