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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 06, 1977
Page
5
Leland S. Prussia, executive vice president and cashier of BotA, notes the bank bears a heavier tax reporting burden than manufacturers. He cites extensive government and nongovernmental regulatory requirements and says most of BotA’s $8 million expense is in the United States.
Late national prices for New York Stock Exchange issues show Dow Jones indices with small losses. The AP compiled page lists many securities with mixed gains and declines, highlighting IBM, Amex, CocaCola, Intel and others among movers.
Closing quotations show June gold at 143.60 up 0.90, June silver 4.54 up 0.04, July copper 61.2 cents down 0.4, July wheat 2414 down 0.04, July corn 2.49 down 0.04, July soybeans 9.194 down 0.10, July meal 253.50 down 2.30, July oil 31.03 down 0.67, June live cattle 40.37 down 1.47, June live hogs 46.00 down 0.20, July pork bellies 57.95 down 0. We cwt, July cotton 66.73 cents up 1.05, market not closed.
Noon market report shows mixed moves across sectors with notable gains for some industrials and slight declines in others. Investors track price changes in key indexes and monitor Federal Reserve signals for guidance.
Arizona stock list from Merrill Lynch provides high low and last prices for local companies. Notable entries include APS ArColLand Newberry Patagonia SWForind Tattey West Fin Over The Counter bids and asks for Arizona based banks and regional firms.
AP analyst John Cunniff notes many households have savings and bank deposits but rarely invest in stocks. Institutional activity dominates NYSE volume at about 70 percent, while individuals remain cautious, seeking guaranteed returns and tax safeguards even as some solid companies trade below book value.
The Small Business Council of the Arizona Chamber of Commerce will hold a seminar on product liability Tuesday at the Safari Hotel. Recognized authorities will discuss implications for insurance, manufacturers, distributors, and the repair industry. Fee is $12.50 per person for Arizona Chamber members, covering the 8:30 a.m. to 4:30 p.m. session and lunch. Contact the Small Business Council for more information and reservations.
New York stocks opened mixed after Friday's gains. The Dow Jones industrial average slipped 5.68 to 806.55 by 2 p.m. while many issues fluctuated and combined NYSE activity reached 13.05 million shares.
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