Wall Street Retreat Deepens as Inflation Fears Rise
Investors on the New York Stock Exchange pushed the Dow Jones to a four year low, dropping 9.54 to 657.07 amid inflation fears. The S&P 500 slipped to 69.97 while 1,160 stocks fell and volume reached about 13.4 million shares. Ford's Friday briefing offered no tax rise plans, as markets await a broader anti inflation campaign.
MENTIONED IN THIS ARTICLE
NEW York
UPI
New York Stock Exchange
P.E
Hds
Oraf
1Ie & AlcanAl
AlliedCha
AlliedSt
Allis Cha
Alcoa
AMAX
AmHes
Am Airlines
AmBrest
Va AmCyan
Amt&t
Wapeco Corp
Armcos
Arms CK
Atirichf
Va Atlas Corp
Avco Corp
Armetinc
Bab&wil
Yo Baker Ol
Bangor
Beckma
Bell Hwl
Bendix
Va Beth Steel
Black&d
Boeing
BolseCas
Borden
Bost Ed
Ie Bourns Inc
Braniff
Brigss
Bris My
Ib Brunswk
cCt Co
Wss
GAC Corp
Medm CanPac
GAF Cp
Caropl
GamSk1
Gannett
CaterTr
CBS
Ghampinth
Wwe
Chessie
Chris Craft
Chrysir
NYSE Close Declines Shake Wall Street Earnings
On the New York Stock Exchange at close, a broad mix of names show varied gains and losses with Coca Cola, Exxon, and General Electric among notable movers. The market reflects mixed sentiment with many blue chips posting modest increases while others slip, signaling cautious trading as investors weigh earnings and economic signals.
Wall Street Charter on Inflation and Wage Settlements
Up to date outlook from Bronel D. Edie & Co. flags wage settlements as the main inflation risk with a likely hefty contract for coal miners due in November. It warns the Ford administration must curb any spillover to other industries while First National City Bank expects mortgage credit to ease and housing to rebound by late winter or spring as inflation cools. Argus Research notes 20 months of over 2 percent auto price gains amid weak real income growth limiting auto spending.
MENTIONED IN THIS ARTICLE
New York
UPI
Bronel D. Edie & Co
Ford Administration
First National City Bank
Argus Research Corp
Still a good rule Investigate before you invest
Investment scams flourish when markets lag and rates rise, with con artists posing in various outfits and selling ridiculous ventures. The piece notes schemes ranging from drive through massage parlors to desert land and avocado plots, promising guaranteed returns and top tax benefits.
MENTIONED IN THIS ARTICLE
Tom Gable
Copley News Service
Gobi Desert
Tulsa
Ponzi Schemes Cited By SEC Risk Warnings And Noted Insolvency
Aug 19 1974 report outlines Home Stake insolvency and a SEC warning against Ponzi or pyramid schemes. It lists red flags such as promises of extraordinary returns and pressure for quick investments, urging consulting experts and verifying registrations. It emphasizes avoiding third party payments and keeping literature for review.
MENTIONED IN THIS ARTICLE
SEC
State Corporations Office
Local
Better Business Bureau of the
Definition of trading markets and stock exchanges
The article explains two US trading markets: over the counter with no official marketplace or geography, and the organized listed market with location based rules. It notes 13 formal stock exchanges registered with the SEC, mentioning the Chicago Board of Options Exchange as the newest. Stock prices are set by supply and demand mechanics in a competitive market.
MENTIONED IN THIS ARTICLE
Judith G. Rhoades
Copley News Services
C.F
Metairie
la. A
United States
E.W
San Francisco
Calif. A
Securities and Exchange Commission
SEC
Chicago Board of Options Exchange
P.M
Glendale
Calif
Chicano Business Students Push for College Orientation
ASU student Mike A. Holguin from Guadalupe leads a new Chicano Business Student Organization at Arizona State University. The group aims to ease college life for students from all backgrounds and provide occupational and educational information. A first meeting is planned for mid September in the Memorial Union with officers to be elected. Interested parties can contact ASU Community Services.
MENTIONED IN THIS ARTICLE
Tempe
Arizona State University Business Administration
Guadalupe
Mike A. Holguin
Chicano Business Student
Memorial Union
Chicano Business Student Association
ASU
Motorola SPD Receives National Safety Council Award
The National Safety Council honors Motorola Semiconductor Products Division for a 1.5 disabling accidents per million manhours rate, well below the industry average of over 10. Ernie Scaggs, SPD safety manager, explains a disabling accident keeps an employee from returning the next workday.
MENTIONED IN THIS ARTICLE
National Safety Council
Motorola Semiconductor Products Division
SPD
Ernie Scaggs
Arizona Construction Slump Idles Nearly Ten Thousand Workers
In Phoenix and across Arizona about 10,000 construction workers sit idle amid a housing slowdown. AFL-CIO official Edward Gallagher cites carpenters plumbers bricklayers and drywall installers hurt by the nationwide slump. DES data show 6,135 of 18,100 July unemployment filers were construction workers with some not filing or not eligible due to residency limits. The state notes a peak of 8,050 in March for unemployed construction workers.
MENTIONED IN THIS ARTICLE
Phoenix
UPI
Arizona
State Department of Economic Security
Edward Gallagher
Afl-Cio
Phoenix Building and Construction Trades Council
DES
Also Mentioned on This Page
Wall Street Concern
Standard & Poor
Ford
Kenneth Rush
New Wage and Price Monitoring Agency
Wall Street
Colgate
Conti Airin & Cn Can
ContiOi
Conti Data
Cyprus
Danac
Dayco
del Maty
DeltaAir
DiamSh
ElPasColg
Firestone
SM SA Geninsic
Gn-Steelind
Getty
Gillette
Global Mar
Wla
Ip GoodyrTir
Grace
Grand U
Grant W
Va Grumn
Gulf Stu
Gulf&Ws
Harrisc
Hercules
Hershey
Ve Heublein
Hewitt P
Hilton
Hobart C
Howards
Idaho
IdealBasic
Ing
BM Corp
Intl Mining
ntNekt
T&t
Nek Corprin
Kencott
Kerr
Kidde W
Kim Cl
KLM Ait
Knight
Kopper
Wve
Kraftco
Jum
Kresge
Libby McNi
Lockheed
LTV Corp
Lucky S
Luken Stl
Lyke Yasin
Marcoline
Massey
Va May DS
Wat
Va MayerOs
Ee Maytag
McCroy
McDond
Va McGr HI
Mac. McLean
Mead Cp
Merck
MGM
Midsou
Mm&m
Morisco
Monogram
Monson
Motorola
Moon
MistTel
MurpCo
Nabisco
Nianman
Ohio
Omarkin
Panhandle
Penn Centr
West Penney
PennDix
Pennpl
Pennzoll Lg
PepsiCo
Pfizer
Pheip
PhilaEl
PhilipMo
PhilPel
Pillsbry
Ralston
Raython
RCA Corpi
qReading Co
Reynt
Riviana
Robshaw
Rockwell
Royld
St Regis
SignalCo
SimasCo
Singerc
Smithkiine
SouthCo
Sp Rand
StertDrg
Stewen
Studew
Sunshine
Tandy Corp
Teledyne
TexUul
TexGulf
Textron
Thiokol
Ian UnoCal
UN Pac
Uniroyal
E— Va UtdAlrer
Utd
US Indus
Eta US Steel
US Teb
UnivsOll
Upjohn
Utah
Varian
WendyCo
Vetco
Victor CC
Walgreen
WarLam
WhelPitt Sd
Whit Con
WhitMet
Whittake Cp
Wickes Cp
XYI— Xerox Cp
Zale Corp
Zayre Corp
Zenithr
Zurn Ind
Wall Street Charter
American Exchange
API
OKC Corp
American Stock Exchange
Oklep
Syntex C
Cal Comptr
Vikoa Incor
Wyo Bnc
Tia
Dixlyn Corp
Dome Petro Ma
Fischer Pt
Frontier
A McCullch
Robert G. MacDonald
M.D
International Monetary Exchange, Ltd
John D- Knox
Special Agent
Scottsdale (Az
Daily Progress
Andy Williams
Jack Benny
Charles Ponzi
Spain
Kyrene School
McClintock High
Mesa Community College
Holguin
Dow Jones
Indus
Brown
Monte DE Paz
Jomax
Scottsdale
Desert Foothills
United National Development Corp
Carl
RICOH
Saguaro Business Equipment Inc
E. Main St
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