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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Sep 12, 1975
Page
5
AP Business analysts say the 1975 lifting of the bullion ban failed to spark a rush as expected. They cite lack of ownership tradition, rising prices, fear of broker insolvency, risk of counterfeit bars, and assay costs of 25 to 50 dollars per ounce as factors dampening demand and turning gold excitement into a cautious pullback.
Sharon Mowery becomes manager of Minnesota Title's fourth office in the Scottsdale area located at 7535 E Shoeman Lane. The office operates 8 a.m. to 5 p.m. Other Minnesota Title offices are at 6710 E Camelback, 6950 E Camelback and 4223 N Brown. Ramada Inn executives Leah W Ridge and Larry Dennis Greiner join First Federal Savings in Phoenix. Eugene C Pendery is named manager of project development for Nuclear Dynamics Inc in Denver, after leaving uranium and mineral exploration work.
The Salt River Project issued a call for bids on 35 million dollars of municipal revenue bonds to fund electric facility construction and improvements. The sale is the final 35 million in a 170 million plan approved in 1975, with 60 million issued January 8 and 75 million issued April 16.
Scruggs AT&T national account coordinator for the inn has finished the executive training course at the inn management development center in Phoenix.
A fragmented 1975 stock page shows Dow and various equities with mixed moves. It also lists education notices for Scottsdale area adult classes including courses at Arcadia High School and Coronado High School with times, instructors, and fees.
American Stock Exchange noon quotes show varied movement across several issues with mixed highs and lows. Traders watched shares like Asamera, EarthRes, HormelG, and Houston Oil amid modest price shifts and sporadic volume.
London gold quoted at 147.25 dollars per ounce down 25 cents while IMM Sept gold at 147.80 up 70. Oct silver 4.64 and seven tenths up. Oct platinum 159.50 up 1.80. Sept copper 56.4 cents up 3 cents. Sept wheat 4.21 up 15 cents. Sept corn 3.06 and a half up 8.5 cents. Sept soybeans 5.67 and a half up 20 cents. Oct live cattle 47.60 up 8 cents. Oct live hogs 61.02 up 1.42. Feb barleys 96.20 and up 1.50. Sept fresh eggs 4.3 cents down 0.85 per dozen. Sept Maine potatoes 17.10 up 50 cents per cwt. Sept plywood 120.00 down 4.00. Oct sugar 15.77 cents down 0.01.
Citibank raised its prime lending rate to 8 percent effective today marking a 2.25 point increase. Analysts expect other major banks to follow as the broader rate trend continues from 6 percent since June.
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