Prices Fall Again On NYSE Amid Apathy And Gains
The week on the New York Stock Exchange shows continued price declines led by weak investor interest. Major indices retreat with the Dow closing 6.35 lower at 883.49, volume sinking to about 53.8 million shares as traders await clearer guidance amid inflation and political concerns.
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Dan Jones
Standard & Poor
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Dow Industrial
Deneuly Almorth
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Texas Reaps Sharing Fund
Chicago based wire reports that the federal revenue sharing program has paid Texas $122.7 million since 1972. Texas municipalities shared $16.2 million, with New York at $101 million, California $288 million, Pennsylvania $141.8 million and Illinois $139.6 million. One third of shared revenues went to state governments, the rest to local units. The sharing program ran for five years.
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Friedrich Refrigerators Fires 35 Layoffs on Material Shortages
Friedrich Refrigerators Inc announces immediate layoff of 35 employees due to material shortages. They say 25 are summer students returning to school, while 10 lower seniority workers will be recalled by September 6. The move marks the first layoff in the company's history.
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Material shutdown disrupts compressor production at Tecumseh
The EPA enforced shutdown of prey iron foundries halts casting supply to Tecumseh Products Co. Friedrich's supply lines suffer from insufficient castings for compressors. UK workers on the affected line are reportedly inactive while others migrate to central air conditioning and commercial refrigeration units to boost output.
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Friedrich
Tecumseh Products Co
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Fight results in one death at Beaumont construction site
A truck driver and a labor foreman fought at a shopping center under construction in Beaumont. Witnesses said Bonnie Bushnell backed over a cart, then fired a pistol after being warned to stop. Clarence Guidry allegedly wrestled the gun and shot Bushnell, resulting in Guidry's death.
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