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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 30, 1977
Page
5
Selected late prices from the New York Stock Exchange show varied movement with many major issues quoted. The Associated Press notes intraday trading data including last prices and percent changes across numerous stocks and sectors.
The Scottsdale Merrill Lynch office reports New York and American Stock Exchange quotes for Arizona headquartered or Arizona major facility companies. Prices shown include APS, AzCoal Land Newberry Patagonia SWFortnd Talley TGBE West Fin Gen Semion with various percent changes and last prices.
The New York Stock Exchange list shows stocks and warrants with the largest percent changes for Thursday. Excludes any security under two dollars and notes the noon price versus the previous close.
London gold 142.75 up 45c oz. Coffee 1.64. Sugar 10c. IMM Aug gold 143.60 down 10c. Jul silver 4.48 down 4c. Copper 60c. Wheat 2.44 down 1c. Corn 2.20% down 5?4c. Soybeans 7.61 down 10c. Soybean meal 202.26 down 3.10. Soybean oil 26.70 down .37. Cattle 41.47 down 10c. Hogs 47.90 up 20c. Pork bellies 55.30 down 7c. Cotton 66 up 2.25c. Market not closed.
Albert H. Cox Jr of Merrill Lynch Econom ics predicts the second half will contrast with the year so far. Inflation should ease to about 6.5 percent as food prices fall, rates may drift lower, and consumer spending rise with durable goods and capital spending continuing despite mixed survey signals. Julius Shiskin suggests delaying unemployment and price data to 9 am to curb trading advantages, though speculation will persist.
Economists warn inflation could surge next year due to oil and food prices, wage pressures, and shortages. They blame government spending and deficits approaching 215.8 billion dollars for fiscal 1975 to 1978, urging Congress and the Carter administration to oppose inflationary policies.
Thurs June 30 1977 comments warn against excessive Congressional spending in farm HEW and environmental programs. Economist Paul Markowski cites inflation risks from monetary fiscal and energy factors, predicting consumer prices rising 6.4% this year 6.6% in 1978 and wholesale prices up 8.3% and 7.8% respectively.
Ramada Inns Inc consolidates its domestic and international hotel operations, its construction subsidiary, and its domestic franchise activities into Ramada Hotel Company. Erié L. Bill will lead as president, while Ramada operates 138 company owned hotels and 25 under management. Hotels are located across the United States Belgium Canada France Germany Mexico Sweden and the Caribbean.
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