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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
May 25, 1977
Page
7
New York stock trading data shows 2 p.m. averages for industrials down about 6.5 percent, with transports and utilities also weaker while overall stock averages fall. The list of selected late prices includes numerous companies with varied declines and gains across sectors.
A dense AP file lists noon prices and changes for American Exchange issues and NYSE stocks. It highlights top gainers and losers with last price, percentage shifts, and notable trading activity for Wednesday.
London gold steady at 144.10 dollars per ounce with a 45 cent drop. London May coffee at 2.53 with a one cent rise. May cocoa 2.27 up two cents. IMM Jun gold 144.20 unchanged. May silver 14.552 down 4.3 cents. Jul copper 60.4 cents down one cent. Jul wheat 2.4834 down 3 4 cents per bushel. Jul corn 2.4534 down one cent. Jul soybeans 9.54 up eight cents. July soybean meal 261.50 up 1.00. Jul soybean oil 31.95 cents up .70. Jun live cattle 42.17 up 40 cents. Jun live hogs 45.22 up 55 cents. July pork bellies 58.10 up 37 cents. Jul cotton 9 cents down 1.72 per pound. Market not closed.
John Stafford's four sons in their 20s act against the common belief that young families are iced out of the housing market. They found homes they could afford despite hearing that a typical American household earning about $15 000 could not afford the average new single family house near $50 000.
Stafford notes that median prices better reflect affordability than averages. In 1976, median new home price near 45000 and resale median around 37300, with many homes under these figures affordable for families earning under 10000 annually. Financing often requires 10 to 20 percent down, complicating access for poor families.
Dr. Roger Good, longtime Scottsdale family practitioner and Scottsdale Chamber of Commerce board president, accepts a professor and department chair role at University of Oklahoma Tulsa Medical College. He will close his Scottsdale practice in five years and relocate with his family.
New York stocks fell further with the Dow down 6.45 to 905.95 by 2 p.m. After an early rally failed, losers outpaced gainers by about 7 to 4 as the Dow marked a 16 month low after four sessions of declines totaling 29.51 points. 14.25 million shares traded on the Big Board mid afternoon.
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