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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Nov 25, 1968
Page
14
New York stock market totals show varied close as index components across sectors drift. Industrial and utility averages posted modest moves with traders consolidating gains and watching price levels, while weekly and monthly comparisons reflect choppy activity across multiple issues.
The Long Island Rail Road suffered a wildcat strike halting all trains with 80,000 commuters stranded. Extra traffic clogged approaches to New York as trainmen oppose a new schedule thought to cost $200,000 in overtime. Railroad lawyers seek a federal show cause order to hold the union in contempt of court.
New York stocks surged with the market indicator up 41 percent as 803 advances and 561 declines were recorded. The Dow Jones industrial average rose while five hours of trading saw turnover of 12,490,000 shares, helped by domestic economic data and rising factory orders, steel demand, and auto sales amid international monetary concerns.
Wages of 710000 auto workers across Michigan and the nation rose 9.1 cents hourly today under three year contracts signed last year. Raises apply to 450000 hourly rated General Motors workers, 180000 at Ford Motor Co, and Chrysler and others.
Czechoslovakia presses and leaders push for more consumer goods like TVs and refrigerators despite Soviet push for heavy industry. December Communist Party gathering seen as a test of power between Moscow and Czech leadership. shortages amid rising demand noted by Praca the Slovak trade union paper. United Auto Workers and American Motors announce hourly wage increases for hourly workers, with cost of living adjustments and improved severance provisions set to begin in January.
Am erican Motors Corp recalls 16000 cars including 790 Rebels and 1178 Ambassadors to inspect for faulty steering linkage parts. Vendor heat treatment issues may cause failure under stress. pitman and idler arms to be replaced where needed. Faulty parts from two suppliers raise risk during parking or slow waving.
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