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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 18, 1967
Page
4
Babson Park analysis recounts 1967 stock gloom then a swift bull surge after the State of the Union. It notes a 14 percent Dow jump from October lows to January highs, credit tightness as the main drag, and hope that easier money could fuel a new bull era while warning against overoptimism and a bear-bearish recovery.
Air pollution worries loom as the American Petroleum Institute notes 1966 gasoline engine driven gains. Domestic gasoline use rose nearly five percent versus 1963, with about 3.3 billion gallons more sold in 1966 than 1965. A panel at a Washington conference discussed reductions in engine emissions despite doubts over electric cars replacing internal combustion engines.
Del A. Gardner of Mesa has been appointed an agent for Allstate Insurance Cos. and the Allstate Motor Club in the Scottsdale office. He is a University of Arizona graduate and will lead the Allstate Safety Crusade here as the seventh agent in the local office after completing training at the Menlo Park center.
In a six part series, NYAL GARMON explains how a commercial bank functions beyond deposits. He highlights savings and checking accounts, mail deposits, night depositories, drive in services, and the role of checks in convenient, safe payments and credit building.
New York based summary describes calculating net worth by listing assets and liabilities, classifying assets into fixed, equities, and miscellaneous, and liabilities into current charges and time payments. Subtract liabilities from assets to obtain net worth.
City finance director Clarence Sigslow reports Scottsdale collected 564 551 in privilege taxes for the first half of 1066 67, a record. By comparison 84 089 was the entire 1965 66 total and 780 771 for the prior year. The six month total suggests under half for the full year unless second half surges. The increase reflects a one half of one percent rise on some items and uniform taxation.
A fragment from the Scottsdale Daily Progress dated Saturday February 18 1967 notes a local item with unclear details and partial wording.
Arizona retail sales set a new record of 26 billion for 1966, up 96 percent from 1965, with every month above 1965 levels. December led with 250 million, November 228 million, and Maricopa County contributed the largest dollar gain at 145 million. Coconino and Mohave counties posted the top percentage increases.
Unclear unaudited figures show dividends and earnings per share for several firms. Arizona Public Service Co reports operating revenues around 48.663 million. Total revenue announced amounts to about 5.465 million.
New York based UPI report cites Eli Broad of Kaufman & Broad predicting the largest housing boom in U S history starting in late 1967 and running through 1969 The firm with stakes in Detroit Chicago Phoenix and Los Angeles posted strong 1964-65 results and projects continued gains as funds tighten and demand remains high Broad expects two million housing units needed this year while starts are limited to about 1.3 million and says manufacturing style approach will favor large builders over marginal operators.
Profile of Arizona notes the electronics sector's rapid expansion from 6 firms and 5,300 workers eleven years ago to over 42,000 in today’s state. 1966 sales hit $524 million, up 23.5 percent, aided by Arizona's location between California and Houston NASA and by climate. Supporting services include machine shops testing labs and universities offering advanced degrees, with employment payroll impacts over $200 million.
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