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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 22, 1974
Page
6
The report notes weak retail demand for beef and pork and rising live cattle and hog marketings pressuring terminal slaughter and prices. Cattlemen lose 100 to 200 dollars per head while retailers resist lowering prices, keeping meat purchases below a year ago. Silver futures stay firm on refinery demand and oil price factors, with February refinery dispositions up and oil pipeline reopenings signaling inflation risks.
Q and A on convertible preferred stock advantages including higher current yield and safety, and on convertible bonds as a source of potential capital appreciation with income. Also guidance on electric utilities as good buys, noting coal-fired utilities with potential earnings growth and high yields.
UPI notes a selective list on the New York Stock Exchange with Admiral, Aetna, Air Products, Alcoa, Am Airlines, Am Can, AmTel, and many others showing varied closes. Highlights include Boeing, Gulf Oil, DuPont, Exxon, Coca Cola, General Electric, and IBM among active movers with mixed gains and losses in a choppy session.
A dense readout lists numerous company tickers and prices with percentage shifts. Entities include Singer, SmithKline, Texaco, TRW, Uniroyal, Utah Power and Light, Westinghouse, Xerox, Zenith, Zale, Zurn, and others, indicating a market quotes page with varied gains and losses.
In Muscle Shoals Alabama a research greenhouse at TVA’s National Fertilizer Development Center began last October and uses heated water from power plants. Cucumbers grown there now sell for about twice the regular supermarket price.
Closing price quotations show May silver 5.60 7 up 0.137, Apr platinum 229 up 10.02, May copper 1.236 up 0.05, May corn 3.03% up 0.44, May wheat 4.90 up 0.13, May soybeans 6.36 down 0.04, Apr cattle 41.90 down 0.60, Apr hogs 32.10 down 0.80, Apr eggs 46.85 up 0.65, May Maine potatoes 15.10 up 0.50, May cocoa 80.40 up 0.02, May coffee 75.75 down 0.78, May plywood 142.10 down 4.30 per thousand square feet.
At 3 p.m. Dow Jones recorded the Indus average at 878.29 up 2.82, Transp off 0.93 to 192.66, Utilities down 0.29 to 91.93, and the Stocks average at 277.46 up 0.04 on a volume of 10,300,000 shares.
Southwest Savings and Loan Association will open its first Fountain Hills office at 16810 Avenue of the Fountains on Monday and run through April 15. An opening includes a penny contest, free roadrunner pins and bolo ties, plus green stamps for deposits of 1000 dollars or more. Gladys Woods is named Fountain Hills branch manager with eight years at the firm. Phyllis Jahnke is assistant manager. The institution also operates in Phoenix, Tucson, Scottsdale, Sun City, Mesa and Tempe, with a McCormick Ranch branch to open later this year. Deposits are insured by the Federal Savings and Loan Insurance Corporation.
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