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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 09, 1976
Page
1
Market nudges above 1,000 for the first time in three years with a strong morning showing led by U.S. Steel General Motors and Bethlehem Steel. Brokers expect a hold above 1,000 this week as rates ease and strong holders maintain positions.
Jim Augustine of Paine Webber Jackson and Curtis says the market may stay healthy but buyers grow cautious as the Federal Reserve's rate hikes loom. Brokers warn higher rates divert funds, though Augustine expects a bull trend to persist until external forces shift. Dow Jones last hit 1000 in 1973.
Betty Ford visited Mesa to dedicate a adobe one room schoolhouse replica built by Mesa Central High School students. Police estimated crowds exceeded 10 000 as she spoke about American progress and the first school in town. She toured the schoolhouse and met 35 dignitaries and student volunteers.
A male caller demanded 20000 dollars or a bomb would explode at a Valley National Bank on Scottsdale Road. No bomb found after evacuation. eight branches in the valley reported similar extortion calls in recent weeks. The caller described a loud voice and claimed to see the bank before threatening more danger.
North Tempe residents press for a bill to let cities annex the surrounding county island to regulate massage parlors junk yards and billboards amid jurisdictional road patrol and public nuisance concerns. State Rep Frank Kelley vows to introduce amendments to county boards powers to curb nuisances, while Sen. Robert Hungerford notes no easy fixes urging cooperation with the Maricopa County Board of Supervisors and keep Scottsdale Road maintained. Tempe officials say annexation is the path to control though existing uses would remain.
Scottsdale Green Acres Memorial Gardens Inc. and Green Acres Trust deny guilt as two actions unfold. A civil class action in Maricopa County accuses three Mesa residents and about 2,500 others of being misled into buying debentures instead of prepaid funeral plans.
Florida voters face a heavy turnout in the second Ford Reagan clash with three leading Democrats also in the primary. In other world news, Russia blocks India from shipping spare parts to Egypt, while a nuclear test at the Nevada site shakes Las Vegas. In Lebanon deserte rs seize a southern garrison as mutinies threaten possible Israeli action.
Secretary of Defense Donald H. Rumsfeld urged Congress to act now to close the growing gap between U S and Soviet military capabilities citing a CIA estimate in Congress that Soviet defense expenditures have risen from 140 billion to 153 billion dollars.
High cloudiness marks today and tomorrow with mild conditions. Temperatures reach the low 70s for daytime highs and lows settle in the low 40s. Details continued on page 3.
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