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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Oct 14, 1975
Page
6
New York AP stock roundup shows major indexes advancing at 2 p.m. led by Dow Jones Industrial Average, with gains across telecoms, consumer goods, and industrials. Notable movers include Penn Central, PepsiCo, and Polaroid as trading continues on the New York Stock Exchange.
London gold 140.50 down 1.00 oz IMM Dec gold 143.00 up 0.20 oz Oct silver 4.32 2 up 0.04 oz Oct platinum 145.00 up 11.80 oz Dec copper 0.543 down 0.008 lb Dec wheat 4.134 up 0.07 bushel Nov corn 2.944 up 0.034 bushel Nov soybeans 5.324 down 0.04 bushels Oct live cattle 46.90 up 0.65 cwt Oct live hogs 59.60 down 0.87 cwt Feb pork bellies 95.25 down 1.50 cwt Dec fresh eggs 0.5995 up 0.001 doz May Maine potatoes 16.48 down 0.50 cw Nov plywood 127.60 up 4.10 thousand el Dec cotton 52.1 down 0.02 tb Mar sugar 0.1375 down 0.001 Ib
The New York Exchange reports noon prices with varied gains and losses across numerous firms. Traders watch movements in AegisCorp Am Asamera and MichSug amid fluctuating quotes and notable shifts in pecked shares.
A Wertheim & Co survey shows that over a decade ending August 31, stock investments managed by banks insurers and mutual funds underperformed the broad stock market averages. The analysis covered 92 institutions handling over 300 billion dollars in trust assets, mainly pension funds.
The article notes Business Mirror cites annual gains such as 2.6 percent overall, 3.3 percent for the Dow and 3.7 percent for mutual funds. It compares bank money managers at 2.4 percent and insurers at 1.7 percent while U.S. Treasury bills show about 5.8 percent. It argues diversification across equity index components remains necessary despite market cycles.
Pollack of Shearson Hayden Stone surveyed 2 000 of the firm’s clients plus 22 00 responses from nationwide investors. He finds 67 percent believe the recession persists and inflation worries 92 percent. Most respondents are from New York Florida and California and see inflation as a serious concern.
F Wal Cerney named assistant cashier for a new Scottsdale dealer contract office after a career at The Arizona Bank starting in 1963. James E. Maneke becomes Camelback Inn catering service manager with prior roles at McKendree College. David R. Reinert named manager internal auditing for Armouri Dial from Deere & Company. Donald D. Myers opens a Prudential Plaza real estate services office in Phoenix. Steven A. Bergman earns national certification as an air and water balancing specialist with Thomas Heating & Air Conditioning in Phoenix.
Stock market analysts describe a muddled scene with investors split between buying and waiting on the sidelines. Robert Archibald of Bateman Richler Hill Richards cautions there is no strong bias yet and inflation and recovery remain uncertain. He predicts a breakout only after those issues are resolved.
Combined Communications Corporation of Phoenix completes its purchase of the Cincinnati Enquirer for 55 million dollars. CCC pays 30 million in cash and 16 million in secured notes to American Financial Corporation, plus 500000 CCC shares and warrants for 750000 more shares.
Arizona Public Service Co. releases final environmental statement for Palo Verde nuclear plant. NRC Office of Nuclear Reactor Regulation prepared and issued the statement. NRC staff concluded a construction permit should be granted.
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