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This newspaper page contains 2 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
May 10, 1977
Page
6
Internal forces push stocks up as the Dow recovers 3.90 to 936.99 by noon amid light trading. Eastman Kodak tumbled after announcing a reorganization while Houston oil and minerals led Amex volume with a 54 percent gain. The Big Board and Amex showed modest gains in a cautious, price-stabilizing session.
The article notes the drought impact on California revenues and an estimated surplus of 1.13 billion dollars for the fiscal year despite drought concerns. Finance Director Roy Bell revises revenue estimates on May 23, but refuses to provide exact figures. The piece mentions the Legislature’s actions and the broader economic context involving investment trusts and state finances.
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