New York Stocks Rise Amid Bargain Buying And Portfolio Shifts
Prices moved higher on the New York Stock Exchange as bargain hunters aided a sluggish session while some institutions reshaped portfolios. Carborundum stood out with news of a silicon powder process for high temperature engine parts and Longs Drug Stores faced pressure after postponing a 617000 share offering amid weak markets.
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NEW York
UPI
New York Stock Exchange
Dow
Longs Drug Stores
Dow Jones Averages Amid Broad Stock Activity
Fresh composite prices show mixed moves across major stocks with notable gains for several corporations including Jantzen and John Deere, while firms like Motorola and Merck display varied performance. Investors monitor shifts in energy, manufacturing, and consumer goods sectors as market breadth remains uneven.
Airlines hit by ruling on over booking
Washington based decision driven by Ralph Nader pushes the Supreme Court to curb airline overbooking. Airlines must choose whether to penalize no shows or continue current practices while risk lawsuits. CAB will review no show penalties amid high Christmas holiday overbooking. Nader sued Allegheny Airlines for fraudulent misrepresentation after a 1972 deny, missing a speaking engagement. Court ruling limits immunity from lawsuits for overbooking.
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UPI
Ralph Nader
Supreme Court
Nader’s
Civil Aeronautics Board
Florida
Nader
Allegheny Airlines
Judge sets aside ruling in Coke case
UPI reports federal Judge David W. Williams vacated a jury verdict against Coca Cola’s territorial bottling system, calling the anti-trust ruling a serious miscarriage of justice. The two week trial had awarded TOMAC Inc. over 540 thousand dollars for limits on Taft California Coke sales.
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Los Angeles
UPI
Coca Cola Co
U.S. District Court
David W. Williams
Coca Cola
Williams
Tomac Inc
Taft
Calif
Around the World Topaz Sailings Through Red Sea
Peter Lenker recounts the three year voyage of the Baltic cargo schooner Topaz with 14 young Americans and Canadians aboard. Letters from Colombo Aden and Egypt describe Sri Lanka visits, a two story bungalow stay, new passports, fishing aboard, and plans to sell the Topaz in the Mediterranean, with stops in Aden Port Sudan and Suez as the journey continues.
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India
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Carl Hartman
Larry Cross
Carl
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Topaz
Glenmoor
Peoples Democratic Republic of Yemen
Jim Rooney
el Suez
Port Sudan
Cairo
Red Sea
Port Suez
Strange
Phoenix
Australia
Indonesia
Tanks secrets stolen by German spy network
West Germany says a 16th suspected spy, an employee of Zeiss Optical, was arrested for allegedly passing top secret data about a new tank to East Germany. The roundup follows the break-up of a 15 member ring tied to NATO defense plans and Leopard II development.
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Bonn
West Germany
UPI
East Germany
Zeiss Optical Co
Oberkochen
Germany
Zeiss Optical
United States
U.S
NATO
Werner Maihofer
Federal Republic of Germany
Killer bees push bill to bar imports to U S
The U S House moved a bill to ban importing honeybees and join an international effort to destroy the Africanized hybrid bees approaching the United States. A 1972 NAS report warned the Brazilian Africanized bee is dangerous and could reach the border in four to six years, advancing about 200 miles annually. The measure would restrict imports under set conditions.
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