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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Oct 18, 1974
Page
7
Readable stock notes show a wide wall of ticker listings with bid and ask levels and percentage changes across numerous companies. Names such as Alcoa IBM Colgate Goodyear and Exxon appear with varied percentages, reflecting intraday movement as investors react to market developments.
E F Hutton says glamor stocks under pressure do not negate a normal consolidation after last week's gains. Thomson & McKinnon Auchincloss Kohlmeyer notes lack of new flow and slower trading, but cites renewed rally momentum and a Dow objective near 720 after consolidation.
Today's closing prices list London gold at 155.25 dollars up 0.50, Dekests 4.83 up 0.20, platinum at 178.00 up 1.50, Oct copper 57.5 cents down 0.02, Dec wheat 5.14 down 0.03, Dec corn 3.80 unchanged, Nov soybeans 8.48 up 0.10, Oct live cattle 41.67 down 0.13, Oct live hogs 42.00 down 0.20, Dec fresh eggs 63.20 up 0.55, fed pork bellies 69.05 down unknown, Maine potatoes 5.70 up 0.10, Dec cotton 46.10 up 0.22, Nov plywood 100.00 up 2.00 per thousand sq ft.
Interim Dow Jones averages as of 3 p.m. show gains across major sectors. Industrials up 4.61 points to 656.05, Transports 148.99 up 2.17, Utilities 69.85 up 0.22, Stocks 209.70 up 1.77 with moderate volume around 13.8 million shares.
The first savings and loan branch in Scottsdale's McCormick Ranch, Southwest Savings, opens Monday in an 8,000 square foot building at 8220 Via Paseo Del Norte with a grand opening running through November 15. Depositors of 1000 or more may choose gifts. the bank lists eighteen Arizona offices and assets over 216 million.
Investors push prices higher in moderate trading on the New York Stock Exchange led by gains in the Dow Jones Industrial Average which climbs to 656.91 as volume exceeds Thursday. IBM advances amid unconfirmed Arab purchase talks while oils gain and airlines cut routes to save costs.
The Baby Carriage Ltd in Scottsdale announces a grand opening next Friday at 2001 N Scottsdale Rd. Owner Betty Simpson outlines a full range of baby furniture cribs car seats strollers and clothing for ages infant to four and notes a seating corner for accompanying fathers. A gift certificate drawing will be held during the event.
The Small Business Administration hosts a free Glendale workshop from 12 30 p m to 4 45 p m at Glendale Community College. Speakers include Karen Geller advertising and promotion Tom McCarthy forms of business ownership Harry Hummel financial sources Jack Stanfield insurance John Seely recordkeeping and taxes with Phil Judy and Dr Richard Elton also on site.
President Alfonso Lopez Michelsen approved a multimillion dollar pact with Texas Petroleum Co to develop new gas fields in the Guajira peninsula. Ecopetrol officials say the arrangement expands Colombia's dwindling gas supply and could double output, with initial investment around 100 million dollars and total up to 600 million.
Ed Mahurin of Madda Trading Company notes grain prices mixed for the week with corn and wheat up early and soybeans down the limit, while late week wheat shows strength. Livestock prices rise overall after initial declines, with fewer hogs marketed signaling spring supply tightness. Metals see silver higher though copper futures fall on producer price cuts.
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