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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 10, 1977
Page
6
New York market figures show a late session drift with mixed results across groups. Major indexes edge lower as industry and transport sectors post small declines while utilities hold gains amid thin volume.
Noon national prices shown for American Exchange listings including PacPetri Pfizer ProcterGamble PepsiCo and Texaco among others. Also notes on various securities with bid and last prices, plus a lengthy table of corporate quotes and percentages.
The American Rental Association will host its 21st annual convention and rental equipment show at Phoenix Civic Plaza from Monday through Thursday. About 2000 members from the United States and Canada may attend. Keynote speaker is Mick Delaney. Closing speaker is Dr. George Gallup Jr.
The SBA advocate for women in business will speak at a Phoenix workshop for current and prospective business persons. Barbara Baxter Dunn from Washington DC will be featured at the SBA Phoenix Midtown YWCA session at 230 E Earls Drive. An 8 a.m. to 2 30 p.m. schedule with a $5 fee includes luncheon and coffee. registration via the YWCA.
London gold 135.50 dn 50c oz IMM Mar gold 134.20 dn 60c oz Apr silver 4.523/10 dn 2c lb Mar copper 64 3/10c dn 1c lb Mar wheat 2.81 dn ac bushel Mar corn 2.5634 up tac bushel Mar soybeans 7.364 up 2c bushel Mar soybean meal 211.40 dn 40¢ ton Mar soybean oil 23 17¢ up .35¢ tb Feb live cattle 38.50 dn 5c cwt Apr live cattle 39.40 up 23c cwt Apr live hogs 36.90 Up 65c cwt Mar lumber 188.90 up 3.00 thous bd ft Mar cotton 77.2c up .7c Ib Mar sugar 8.75c up .03c Ib. Market not closed.
Blue chip stocks led a modest upturn in New York trading as signs the winter natural gas squeeze eased supported prices. The 2 pm Dow rose 3.58 to 937.42 while NYSE volume reached 15.02 million shares. Government reports showed unemployment dipping due to gas shortages, with energy-related unemployment about 870,000 versus 1.2 million last week. The stock had fallen after weak fourth quarter earnings news from a company.
AP analysis notes Thomas Wilcox, Crocker National Bank chairman, says the economy erodes under debt, unproductive projects, and tax policy. He advocates a Full Productivity Act to boost private enterprise, investment, and growth, urging recognition of American capitalism as the system to defend.
The speaker argues business must stay linked to the community and profits fund job creation. He cites inflation and tax policy as disincentives to saving, urges a law defining an economic environment to encourage investment for jobs and growth and improved living standards. He recalls a 1975 Rotary Club address and warns against measuring goals by social equity at the expense of the capitalist system.
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