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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 02, 1976
Page
5
The New York Stock Exchange 2 p.m. quotations show Dow Jones and sector indices with mixed moves. Prices cover many blue chips including Verizon units and industrials, reflecting uneven trading as investors digest earnings and market trends.
AP reports top gainers and decliners on the New York Stock Exchange by percentage change from yesterday's close to today's last price. Listings include ups like Cousins Mtg, Penn Castlea, Tyco Labs, and US Indust, and downs such as Divers Mtge and Fibrebord Cp with their latest prices and percent changes.
The New York stock market fell modestly as profit taking followed a record January gain. The Dow Jones average slid 5.03 to 970.25, with volume at 15.46 million shares as trading began late due to a winter storm. Tenneco and Anaconda fell on merger news. the NYSE composite slipped 0.11 while the American Stock Exchange index rose 0.20.
The day’s closing quotes list London gold at 130.00, IMM Mar. gold 130.80, Feb. silver 3.98 3/10, Sep7 Apr. platinum 139.90, copper 55.1 cents, Mar wheat 3.57 1/4, Mar corn 2.68, soybeans 4.76, Feb live cattle 38.90, Feb live hogs 46.47, pork bellies 64.97, fresh eggs 56.6 cents, May Maine potatoes 15.80, Plywood 16.50, cotton closed, sugar 13.33. Market not closed on above items.
Smitty's of Arizona opened a 230000 square foot headquarters and central distribution facility on 15 acres at 2626 S. 7th St in Phoenix. The $3 million complex features 20 truck docks, 9 rail docks, and includes executive gym lunch room and training areas. Owned by Cabot Forbes it will service 11 Valley stores including Scottsdale with planned new openings and a computerized inventory system due by August.
City council member Paul Messinger and Richard Yavitt CPA were honored by Scottsdale Associated Merchants. Messinger received the Community Service Award for 1975 and Yavitt the President's Award for dedicated SAM service. The dinner-dance was held at the Scottsdale Elks Club.
University of Arizona professor Hiroki Shioji says Japanese industries may move warehouses from Los Angeles to Arizona to stay price competitive with U S products. He notes Los Angeles weighs an inventory tax on goods stored there in July as a possible motive.
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