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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 19, 1976
Page
6
NYSE late quotations show wide price ranges for many issues with notable gains for AmEx and Exxon while several names post declines. The Dow Jones averages reflect mixed results with some leaders advancing and others retreating amid broad market activity.
New York stocks slipped slightly as the Dow fell 2.13 to 977.72 amid a modest February CPI rise of 0.1 percent. Traders cited an anticipated CPI trend, caution from the White House, and uncertainty over interest rates, with mixed NYSE and American Stock Exchange indices.
Commodity closings show gains and losses across metals grains and livestock. London gold at 133.70 an ounce, IMM gold 134.30, silver 4.22, copper 63.0 cents, wheat 2468 per bushel, corn 2.68, soybeans 4.77, live cattle 36.92, hogs 40.50, pork bellies 74.00, eggs 48 cents per dozen, potatoes 12.68, plywood 153.30, cotton 5.35 cents per pound, sugar 0.13 per pound. Market not closed.
The article explains how IRAs let wage earners save up to 1500 yearly with tax deferral until retirement. It outlines potential growth versus taxed accounts, shows example projections for 20, 25, and 34 years, and notes tax forms 5498 and 5329. It also discusses likely future reforms and broader participation.
In Tucson, Border Patrol officials say at least 15000 illegal aliens hold jobs. Businessmen note hiring challenges due to workers being unauthorized and fear of offending U.S. citizens. Border raids last week led to 67 arrests and deportations to Mexico.
Tenneco Inc ends talks to merge with Anaconda Co after Crane Co declines to tender its Anaconda shares to Arco. Arco offers 27 a share for about 6 million Anaconda shares, while Crane may sell holdings with first refusal to Arco. Anaconda, a Montana copper refiner, had resisted Crane but backed the Tenneco merger plan.
Marriott Corporation will manage a 312 room Tucson hotel adjacent to the Tucson Community Center. James E. Durbin said operation will start by April 1 under a long term deal with Tucson Pueblo Center Co. of Indianapolis. The property offers four restaurants and lounges, a pool and recreation deck, connected parking for 365 cars, a gift shop and a clothing store, plus 15 meeting rooms for 25 to 900 attendees.
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