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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 05, 1976
Page
5
The AP report lists New York Stock Exchange prices at 2 p.m. with Dow Jones averages and index figures for many major companies including Gen Dynam, Gannett, Polaroid, and IBM. It shows rising and falling issues, with notable movers in sectors such as utilities, chemicals, and consumer goods, reflecting mixed market activity.
Closing quotes from Madda Trading Co list London gold at 128.25 down 0.75, IMM Mar gold 128.50 unchanged, Feb silver 3.94 and one fifth up 0.03, Apr platinum 139.80 up 0.80, copper 55.6 cents unchanged. Also Mar wheat 3.51 down 0.04, corn 2.66 down 0.04, soybeans 4.77 up 0.04, Feb live cattle 37.55 up 0.30, live hogs 47.70 up 0.65, pork bellies 68.15 up 0.70, eggs 55.3 cents up 1.9, Maine potash 16.05 up 0.35, plywood 163.00 up 1.20, cotton 59.75 down 0.95, sugar 13.36 up 0.26. Market not closed on above items.
AP report notes Commerce Department survey finding capital spending plans for new machinery and larger plants remain pessimistic with no overall increase. Despite business optimism, executives have yet to back views with tangible cash outlays for expansion.
The piece notes that private business views differ by audience but capital spending plans may align with actual survey results. Analysts say late year measures suggested cautious optimism, with retail strength inflation easing and rates down, yet businessmen still waited for clear consumer signals before committing funds.
Lewis W. Lehr president of 3M US operations was elected chairman of the Health Industry Manufacturers Association at its Camelback Inn annual meeting. Henry E. Fish was named chairman-elect and Anthony J. Abbruzze named treasurer. The 160-member group formed in 1974 from a merger of two associations.
Arizona road use rose 4 percent in 1975 to 16.4 billion vehicle miles from 15.7 billion in 1974, outpacing the national rise of 1.9 percent. Early 1975 gains followed energy crisis effects, with rest areas seeing a 12 percent driver pause rate and a 55 mph limit lengthening trips.
Gov Raul Castro and Rep John Conlan will address the Scottsdale Chamber of Commerce annual banquet at the Scottsdale Hilton. Also speaking are Dr Sergio Bribiesca Sonora tourism director. The program runs cocktails 7 p.m. dinner 8 p.m. entertainment 9 p.m. to 1 a.m. Awards honor outgoing board members and top recruiters.
State Corporation Commission launches an inquiry into rates and service adequacy for household goods carriers. Commissioner Al Faron notes 35 percent of three year complaints involve transportation of household goods. A 25 question questionnaire will be mailed to all carriers about costs operations and facilities.
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