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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 17, 1975
Page
11
A dense page of fluctuating intraday prices shows varied activity at the New York Stock Exchange. Trading notes mention numerous tickers, shifts in indices, and market volatility amidst broad sessions and closing remarks.
California officials consider using economic sanctions against banks practicing redlining. Asst. State Treasurer Grover L. McKean cited more than 700 million dollars in state deposits and noted actions already taken, including withholding 200000 dollars from a Northern California bank over discriminatory lending practices targeting women.
Law barred banks from depositing funds while IT TRUSTS proposes using state deposits to back social responsibility. Rep Yvonne Burke Warns redlining harms communities as bank officials accused of neglect, likening redliners to fat frogs and condemning corporate refusals to invest in distressed areas.
New York stocks finished a fluctuating session with no major advance as the Dow at 844.28 gained 1.72 while advancers slightly outpaced decliners. Gulf Oil, Rockwell International led moves as they discussed possible deals and Ford optimistic on housing data signaled improving economy.
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