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Newspaper
Sunday Dominion Post
Location
Morgantown, West Virginia, United States of America
Date
Jan 07, 1968
Page
6
The United States faces a sharp balance of payments problem. President Johnson unveils a restrictive program to curb foreign investment and loans aiming to trim the 1968 deficit by about $3 billion, amid a $4 billion capital drain and volatile market reactions.
Chemist Robert L. Strickman seeks return of majority rights to his cigarette filter from Columbia University to speed market launch and avoid NBC litigation. He plans to sue for up to 500 million dollars, mass produce in Germany, and fund education and research with Columbia as a beneficiary.
New York fund listings show numerous funds with bid and ask values across categories from Am Bus to Keystone to Vanguard. Prices span diverse funds and groups including Putnam All Am, Dreyfus, Loomis Sayles, Franklin, and more, with many quotes updating on Friday and showing varied performance.
The Southern Illinois University Placement Service reports that starting salaries for college graduates have increased by about 30 percent since 1960. The finding highlights wage growth tied to degree completion and market demand observed by the university placement unit.
Blake T. Newton Jr president of the Institute of Life Insurance of New York was elected to the boards of Allegheny Power System and Monongahela Power Company replacing George M. Schurman. Schurman retired after 25 years and resigned his board seat effective January 1.
West Virginia state records show 1967 the safest mine year in 70 years with 60 deaths, total coal production 152,495,274 tons and a 44,000 workforce, up about 700 from 1966.
Nationalist China's foreign trade hit a record 1.4 billion dollars in 1967, up 26 percent from 1966. Exports totaled 669 million dollars, said P. Y. Hsu, foreign trade commissioner.
The First National City Bank 1968 gold review shows gold production flat to down and private demand absorbing output and government stocks. South Africa’s 75 percent share and a US stock decline push private demand to about 2.5 billion, with implications for the dollar and gold reserves.
Hope Natural Gas Co spent more than $700 000 on improving and expanding its service facilities in the Mangantown Fairmont Clarksburg area during the past year The company forecasts 1968 expenditures will be compar able as budget figures become available A new housing development Hunting Hills in western Monongalia County will receive extended lines An extension to Booth six miles southwest of Morgantown is underway Morgantown city plant spent 274 000 Fairmont 179 500 and Clarksburg 251 900 last year Most funds went to replacing existing lines and expanding service to new customers.
The New York Times weekly index of business activity fell to 315.9 in the latest week from 325.4 a week earlier, with the year-ago level at 292.9. The table lists the index and components including Misc Loadings, Other Loadings, Steel, Electric Power, Paperboard, and Lumber. all figures reflect long-term seasonal adjustments.
Duntile Co of Westover will move to a new, fully automated manufacturing plant on River Road about a quarter mile from the present site by early spring. Production will include conventional blocks, half-high blocks, decorative wall blocks, patio blocks, flue liners and more. Secretary treasurer Mrs Eulah Cain said new machinery arriving early this week will cost about 70000 with building costs estimated from 40000 to 50000. Officers include Harry W Cain president and Roger W Cain vice president and general manager.
The State Commerce Commission establishes an industrial and agricultural development office in Morgantown. Luther S. Hartley leads agri business development for 13 counties in North Central West Virginia with an office at 278 Spruce St. He will collaborate with local utilities and the Morgantown Area Planning Study staff.
The Department of Agriculture announced it will hire 75 new meat inspectors to speed up the Wholesome Meat Act implementation signed by President Johnson on December 15. The effort is the first step toward hiring about 500 inspectors and staff by June 30 across seven districts and Washington, D.C. to ensure total meat inspection through federal and state cooperation.
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