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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jul 28, 1977
Page
5
After a volatile session at the New York Stock Exchange and American Stock Exchange, the Dow Jones Industrial Average slipped to 885.14, down 3.29 points, while the total market showed declines across major indices and widespread stock price movements, with notable activity in Amex issues and large roster of corporate quotes.
The Associated Press piece outlines top up and down movements on the New York Stock Exchange and American Stock Exchange stocks and warrants for Thursday. It notes percent changes from previous close to noon, excluding securities below $2 and lists several names with their gains or losses.
National price list of American Stock Exchange issues shows varying gains and losses across many listings. Key names include AllegAir Amera 12, AtlasCM 24, DynAm 4, FedRes 7, HollyCo 7 across mixed intraday moves. The report captures last prices and percent changes among diverse firms.
Arizona stocks listing prices from the New York and American stock exchanges, provided by the Scottsdale office of Merril Lynch, Pierce, Fenner and Smith. Includes entities such as APS AZL and Newberry Patagonia with various percentage figures and trading codes.
London gold 144.25 down 1.00. London coffee 1.94 up 0.25. cocoa 2.23 up 0.07. sugar 9.6 up 0.5. IMM gold 144.00 down 1.40. silver 4.49 down 0.05. copper 56.4 down 0.8. wheat 2.25 down 0.34. corn 1.99 down 0.04. August soybeans 6.159? up 0.?. soybean oil 22.43 down 0.50. soybean meal 157.40 down 2.20. live cattle 39.27 down 0.90. live hogs 40.52 up 0.17. pork bellies 49.57 up 0.47. cotton 58.55 down 0.30.
The Dow Jones Industrial Average fell 3.29 to 885.14 at mid afternoon as losers led gainers 9 to 5 on the NYSE. Volume reached 17.60 million shares while the Dow's three day drop neared an 18 month low. Analysts noted continued selling ahead of Friday's government report on the leading indicators.
A Roper poll funded by H and R Block shows 59 percent of taxpayers deem their federal income taxes excessively high, 31 percent say about right, and 10 percent consider them very reasonable. It also notes 70 percent oppose higher gasoline or heating oil taxes and 55 percent support higher liquor taxes.
The study surveyed 2 003 people across demographics and found a pervasive call for reform yet a reluctance to lose deductions or pay higher taxes. Henry Bloch of H R Block argues the in depth study helps inform lawmakers, not for publicity.
Corporate consultant J B Fagot says shrinkage drains American families by about 170 dollars a year and is mostly caused by employees. He warns firms overreact with price hikes and suggests prevention through controlled cash and goods flow plus prevention by security forces. He notes many managers fail to track the company lifeline and warns shrinkage can prove fatal to business.
A short notice urges readers to consult the classified want ads for services and help available locally. It highlights practical options for hiring help and outsourcing tasks through the newspaper’s listings.
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