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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 24, 1976
Page
5
NYSE 2 p m quotations show Dow Jones Industrial 996.22 up 10.94, Trans 208.71 up 1.49, Utilities 88.77 down 0.12, Stocks 304.24 up 0.20. A long list of individual stock prices and changes follows with numerous names and figures across sectors.
The Dow Jones average rose to 996.22 at 2 p.m. as investors bid up markets after a bond rally and Chrysler earnings. The gain follows Monday’s 2.52 drop from profit taking, with the index not closing above 1,000 since January 26, 1973.
London gold 132.25 up 1.00 per oz. IMM Mar gold 134.00 up 2.50. Silver 4.21-1/5 down 1.3 cents. Copper 58.4 cents down 0.1. Wheat 3.85 up 4.34. Corn 2.682 down 0. Nost. Soybeans 4.782 down 0. Nost. Live cattle 38.40 up 0.30. Hogs 44.27 down 0.08. Pork bellies 65.87 up 0.07. Eggs 51.85 cents up 0.75. Maine potatoes 12.30 down 0.50. Plywood 159.00 up 1.60. Cotton 61.15 cents up 0.07. Sugar 14.16 cents up 0.5. Market not closed.
AAP report notes varied closing values across major listings with several firms showing small gains and others slipping. The session reflects uneven demand as investors weighed quarterly results and market signals from the New York Exchange.
States move to repeal fair trade laws allowing manufacturers to fix retail prices on items like furniture appliances and drugs. Consumers Union warns price fixing violates federal antitrust law while lawmakers say laws aided small merchants. Once 45 states had such laws. now 21 remain as repeals cut artificial price levels.
The Justice Department says consumers overpaid by about 2.1 billion annually under fair trade rules. After Congress repealed these laws and President Ford signed the repeal, retailers report no guaranteed price drops for fair traded items after March. Major manufacturers warn suggested retail prices may stay the same, risking franchise cancellations if undercut. Jewelers offer mixed forecasts, leaving savings uncertain. Consumers should shop around to verify changes.
Scottsdale firm Qualtech announces the Luma-Tech flashlight charging system for police security and emergency use. The unit installs in vehicles boats or aircraft, uses GE nickel cadmium cells, and prices at 50 dollars with one end cap. Peter Wainwright and Onno Prinsze, both reserve deputies, say the device meets needs from law enforcement to public utilities.
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