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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Dec 15, 1977
Page
6
Dow Jones at 821.29 down 1.39 points leads a broad decline as the 20 Trans. slip to 213.19 and 65 Stocks to 283.71, amid widespread losses in late national prices on NYSE listings from AP.
London gold 158.70 down 1.05. Mar coffee 177.50 down 6.00. cocoa 152.40 down .25. Mar sugar 9.40 down .05. Mar gold 162.40. Feb silver 4.70 up 1.6. Mar copper 59.50 unchanged. Mar wheat 2.66 up .0094. Mar corn 2.23 up .002. Mar soybeans 6.062 up 12.5. Mar soybean oil 21.97 up .30. soybean meal 161.50 up 3.50. Feb live cattle 40.77 up .05. Feb live hogs 39.97 up .37. Feb pork bellies 50.05 up .80. Mar cotton 51.75 up .51. Market not closed.
Merrill Lynch reports Arizona focused firms traded with varied moves on the NYSE and AMEX. Notable quotes show APS near unchanged, Del Webb and Valley Nat. Bank showing modest gains, while Bayless Markets and Southwest Gas appear active in counter and bid quotes.
The $20 million Registry Resort of Scottsdale debuts on a 45 acre site at Scottsdale and Indian Bend roads. Hospitality Management Corp. of Dallas owns it, and 323 rooms include 203 villas and 31 bilevel suites. The facility offers 20 tennis courts, multiple pools, convention space for up to 1,000, and the Phoenician Room showroom.
The column argues that big business and small business have divergent interests and seldom share a single voice. It cites NSBA figures showing shrinking shares of assets and profits for small manufacturers and contends big business, government, and labor dominate policy, sidelining smaller firms.
The dispute features nine figure revenue giants and Fortune 500s clashing with the public companies over access to investment funds. Committee members accuse the giants of crowding out smaller firms and tainting the economy to favor powerful leaders and hidden influence over government agencies.
In New York the stock market showed mixed results as investors awaited weekly money supply data. The noon Dow Jones Industrial Average stood at 821.90, down 0.78, while gainers edged losers 6 to 5 among NYSE issues and mid day trading suggested a neutral pattern.
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