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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Dec 06, 1974
Page
7
Stock list shows daily movements with prices and changes for many issues on the New York Stock Exchange. Notable items include American Airlines and Alcoa with varied bid and last prices and modest gains or losses, reflecting mid session activity among dozens of listed corporations.
New York trading saw broad declines on the NYSE as investors worried about a recession and rising unemployment. The Dow fell 11.18 to 575.88 near 3 p.m. EST, piercing its 12 year closing low of 584.56, with 1,121 declines to 246 advances among 1,780 issues.
Firestone Rubber Co will lay off 1,000 of its 1,200 employees at the Salinas plant from December 21 to January to trim inventory of truck tires, the firm announced Thursday.
Today's quotations from Madda Trading show London gold at 179.00 up 1.00, silver at 4.25 down 0.03, platinum at 175.30 down 2.20, copper 57.00 down 0.01, wheat 4.73 down 0.05, corn 3.58 down 0.01, soybeans 7.18 down 0.20, live cattle 38.47 down 0.98, live hogs 42.47 down 0.05, pork bellies 367.55 down 1.15, fresh eggs 59.05 down 0.01, cotton 40.1 up 1.4, plywood 105.90 down 0.50, sugar 49.9 up 1.95. Market not closed at time of report.
The Dow Jones averages show declines at 3 p.m. with the industrials down 11.65 to 979.41, transports off 2.48 to 138.80, utilities down 0.55 to 65.85, and the overall Stock Average down 3.33 to 189.08.
Washington report details that total debt of the nation including federal state local corporate and private sectors reached 2.5258 trillion as of June 30 1973. BEA officials predict higher 1974 totals while GNP stands around 1.4 trillion.
Arizona Public Service Company filed a registration with the SEC to offer 1.5 million common shares to the public. The sale, via a nationwide underwriting group led by The First Boston Corporation Blyth Eastman Dillon & Co and Dean Witter & Co, will fund reduction of short-term construction debt and general expenses. Projected plant expenditures from 1974 to 1976 total about 567 million, with roughly 168 million in the current year.
ASU Center for Executive Development will run a Dec. 16 workshop on delegation control and accountability. Howard P. Mold, faculty associate, leads the program from 8 a.m. to 4 30 p.m. in the Business Administration building with a $50 registration fee covering instruction materials and luncheon.
Commodity report notes no definite trend in grains with profits taken Monday and limit down soybeans on Monday, bids up Tuesday on export demand, and Peru buying corn. Livestock prices slip early week, then recover midweek. cattle hogs and pork bellies rise. Silver trends downward overall as gold legalization debate unfolds.
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