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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Aug 03, 1977
Page
7
The 2 PM quotes show broad declines across sectors with the Dow Jones Industrial Average down roughly four points as utilities, transports, and several big names such as Ford, Xerox, and Pennzoil post losses. Major indexes report mixed changes amid widespread price shifts on the New York Stock Exchange.
Prices across American Stock Exchange issues showed a range of moves with several names posting small gains while others fell. Notable upticks included AtlasCp and EarthRes, while Crutch and Danmson displayed mixed results amid broad volatility.
The New York Stock Exchange shares show gains and losses among top movers for Wednesday with percentage changes including ContAirlin up and Food Fair higher, while Allied Super and Cook Unit fall. The ABSE listings also highlight notable shifts in AMEX with Ronco Teleco and Winsin Mill rising.
Arizona based companies and scaled listings appear through Merrill Lynch Scottsdale. Prices show APS at 20 Unch, Azi Resa Je- Newberry 15 15 Patagonia 8 44 Ve with fluctuating highs and lows and no clear closing data due to fragmented OCR.
The list presents bid and ask figures for several financials and companies. Arizona Bank, UB Fin Corp, Va Valley Nat Bank, Anheuser Busch, Bayless Mkts, Southwest Gas, Gen Semi and other names appear with fractional changes and percentage figures, illustrating a volatile over the counter snapshot.
London gold 145.05 dn 75c oz. Aug gold 147.00 up 70c oz. Sep copper 55.2c lb up 0.3c. Sep wheat 2.27 up 2c. Aug soybeans 4.1314 up 30c. Live cattle 39.80 up 45c cwt. Cotton 54.25c dn 0.42c ib. Market not closed.
Dr. Renee Richards filed in Manhattan Supreme Court to block disqualification from the U S Open Tennis Championship. The court temporarily enjoined the USTA, U S Open Committee, and the Women's Tennis Association from ruling before a hearing by Justice Alfred Ascione. Lawyers allege a chromatin gender test is being forced.
Arthur Young & Co. for Financial Executives Institute finds Rocky Mountain Region executives averaged 87,400 in 1976, the fourth highest in the nation behind the Northeast, Mideast and Midwest. The region posts a 15 percent compensation rise and covers Arizona Colorado Idaho Montana Nevada New Mexico Utah Wyoming.
Nationwide data show a record 14 percent rise in top executive compensation in 1976 after a near flat 1975. Bonuses expanded sharply with about 75 percent of companies paying them, while base salaries climbed about 10 percent and total compensation grew about 12 percent overall.
The Dow Jones industrial average dropped 4.07 to 883.32 as declines outpaced advances on the NYSE with 15 million shares traded. Morgan Guaranty Trust raised its prime rate to 6 percent after earlier cuts, while General Motors slid to 67 and GM declared an 85 cent dividend. The NYSE composite slipped 0.29 to 53.64 and the AMEX market value index fell 0.71 to 119.27.
The Phoenix Metropolitan Chamber of Commerce relocates after 18 years to the ninth floor of The Chamber of Commerce Building at 34 W. Monroe. The current office at 805 N. Second St. is sold to Bennie Gonzales. lease at the new address runs 10 years with opening set Aug. 15.
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