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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 29, 1974
Page
6
Off farm movement of corn rises as farmers move supplies before spring field work. Australian wheat crop up 200 million bushels with France and South Africa marketing. A $45 million beef purchase program provides limited impact and ranchers receive 63 percent of beef retail price in February.
Washington reports a 4 percent drop in prices for raw farm products through March 15, led by beef cattle and wheat declines. Potatoes and dry beans offset some losses, suggesting slower rises in consumer food bills.
Reader asks how to redeem matured savings bonds held for safekeeping and how to handle apartment conversion to condominiums. Treasury and Bureau guidance cover submitting Form 5114 for release, or contacting the issuing bank or Bureau of Public Debt with full name and prior address. Condominium conversions prompt financial considerations including funds, income, and living needs.
The UPI report flags a fragile auto market with January February sales 24 percent below a year ago and a shift to small cars. Despite small car gains, overall demand remains weak as gasoline shortages and the energy crisis dampen purchases. automakers warn layoffs and plant shutdowns loom without a spring sales rebound.
The Scottsdale Daily Progress reports on a local event as of March 29 1974 with brief details about a community matter. The item highlights a notable person and a civic or cultural occurrence in Scottsdale, Arizona.
NYSE close list shows Admiral, Air Lines, Alcoa, Allied, Am Airlines, AmCan, Ammaf and many others with bid ask and percent gains. The data includes high low close values across numerous U.S. corporations, utilities, techs, and energy names.
Brinco Ltd officers convened a board meeting to review Newfoundland's bid to buy 24 million outstanding shares at 7.07 dollars each. Chairman R D Mulholland said Premier Frank Moores set a midnight deadline for shareholder acceptance.
Industrial average falls to 849.34, down 5.01 points. Transportation average drops 0.97 to 189.20. Utilities slip 0.44 to 90.59. Five-stock index at 268.67, down 1.49. Volume reaches 10,570,000 shares.
Market closing quotes show May silver at 5.395, May copper at 1.297, May corn 2.785, May wheat 4.31, May soybeans 6.15, and May coffee 74.80 with various pennies and cents changes. Other items include Apr cocoa 88.65 and plywood at 135.70 with notable up moves in several grains and metals.
Delta Airlines and Braniff International sue Gulf Oil Co in federal court for overcharges and contract repudiation. Delta filed in U S District Court Atlanta and Braniff in Dallas alleging price increases from 10 to 5 cents per gallon, with delta claiming prices rose from 18 to 33.105 cents and threatening widespread flight disruption. Braniff seeks contract void and delivery at former rates, citing fuel shortages in Tampa and Detroit amid regulatory limits.
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