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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
May 14, 1976
Page
6
Dow Jones 2 p.m. quotes show large cap declines led by industrials and transports. The listing includes AbbtLab, Airco, Alcoa, Amcan, CocaCola, Caterpillar, Chrysler, Exxon, Ford, General Mills, IBM, JP Morgan, and many others with price, high, low and percentage changes reflecting broad market weakness.
The Dow Jones at 992.05, down 9.05, breaks four days above 1,000 as investors react to higher rates. Citibank raises its prime from 6 to 6.5 percent, a move seen as negative psychologically, with money supply growth adding to credit-tightening fears. Columbia Gas System active but down, NYSE index slips to 54, ASE falls to 104.80.
Today's closing prices from Madda Trading Company list London gold at 127.50 per ounce unchanged IMM June gold 128.20 unchanged silver 4.532/10 up 1-4/10 July platinum 154.70 down 8c oz copper 70.7c up 4c lb May wheat 3.524 down 34c bushel May corn 2.91 up 3c bushel May soybeans 85.2244 up 7ac bushel June live cattle 42.80 down 9.7c cwt dan live hogs 49.72 down limit 1.50 May pork bellies 73.45 down limit 2.00 cwt June fresh eggs 0.48 down .5c doz May Maine potatoes 8.37 down 2c cwt July plywood 156.30 up 1.30 thous sq ft July cotton 66.62 up .4c lb duly sugar 14.4 up .1c lb
The W A Krueger Co announces Jack W Fowler was elected president and became a board member. Richard Howland was elected to the board by shareholders and named chairman of the executive committee. Howland previously held senior roles at the New York Stock Exchange and American Express. George Parton earns Ford Executives Guild membership in Scottsdale. Phyllis Tirrell promoted to manager of Valley National Bank Scottsdale Oak Office.
Arnold J. Breitbach, active in banking since 1959 with the UCT Dubuque Council, was installed as grand counselor for 1976-77 at the Order of United Commercial Travelers convention in Phoenix. He helped found Scottsdale Council No. 881 after moving to Arizona. Sharon Lanker named president of Biltmore Fashion Park Merchants' Association with Lawrence Jamison as vice president.
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