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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Sep 16, 1963
Page
9
A reader questions whether AT&T price movements reliably signal the stock market or economy. The columnist cites postwar data showing AT&T largely followed trends until 1958 when a stock split and dividend rise let AT&T outperform the S and P 425 index. The piece cautions against judging the market by one stock.
Valley Presbyterian Church planning the largest fundraising campaign in Scottsdale to build a sanctuary costing 750000 dollars. Under Gordon D. Jorgensen the drive aims to add space for Christian education and expand the church’s facilities on a 10 acre MacDonald Drive site. Beginning with a public phase next month, committees include Lloyd Allnutt and others. Reverend Herbert P. Landes leads the congregation of 1544 communicants formed in 1956.
Garrett Corporation faces a hostile bid from Curtiss-Wright offering 50 dollars a share for 700000 Garrett shares. Garrett board chair E A Bellande denounces the bid as takeover aimed, noting Garrett stock traded above 50 dollars in six of seven years. The offer runs to September 27 with a 14 day extension option. Garrett Supply Co. handles Garrett division operations at 2950 W Thomas Rd.
Mrs Gar nita Kelley named assistant secretary of First Federal Savings. She joined First Federal in 1953 and has served in Scottsdale since the office opened on July 31 1961. The branch moved to 6950 East Camelback Road. She has worked in both Savings and Mortgage Loan departments at Home and Park Centre offices. She has two children Vincent and Mrs Robert Parent.
UPI reports the U S space program faces possible delays with no manned flights next year if Gemini slips further. NASA and the Air Force clash over Gemini, while Dyna Soar tests and Apollo moon goals threaten to overshadow the fragile Gemini project amid budget scrutiny.
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