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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 02, 1977
Page
5
The 2 p.m. NYSE quotations show mixed results with declines in several industrials and transports while utilities edge higher. Major names include Ford, Gannett, Coca Cola, Procter & Gamble, and Exxon among others, reflecting a broad market dip into late trading.
London gold traded at 141.75 dollars, down 2.25. London July coffee at 2.31, unchanged. Cocoa at 2.21, up. Sugar May 78 at 10.3 cents per pound, unchanged. June gold 142.30, down 2.00. June silver 4.55, down 2.5 cents. Meal, bushel, and other grains show varied quotes with small losses.
Numerous ticker entries show varied moves across exchanges and sectors. Prices fizzle and surge for names like GiantYet, Goldfield, Kaisrin, NorCand, and Ver nt Ryon among others as traders track daily volatility.
The AP reports a new scam trend in Manhattan where salesmen push signed graphics by famous artists as a profit play. The pitch targets business executives with promises of authentic works from Dali, Picasso, Chagall, and Miro, appealing to mercenary interests over aesthetics.
A Scottsdale market report shows firms pushing signed prints as investments with catalogs and discounts. Investors cite high pending prices for Picasso, Dali, Miro works while critics warn of speculative risk and advise against unseen purchases and high seller commissions.
New York traders saw a pullback as the Dow Jones average fell to 904.08 by 2 p.m. after a short rally. Volume on the Big Board was light at 12.90 million shares with slightly more losers than winners among NYSE issues.
The seminar will review the Consumer Product Safety Act and the Moss Magnuson Act, discuss legislative remedies to the crisis, and advise businessmen on keeping product liability insurance premiums low. Participants include insurance and legal professionals such as Tucson attorney William Kimble. Dow Chemical led NYSE activity, down 2 at 34 percent, with a 352000 share block traded at 35. NYSE index fell 0.13 to 52.84 while AMEX index shed 0.22 to 112.09.
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