Action urged as high interest rates threaten economy
President Johnson promised to lower rates but markets surged higher and credit tightened. The Treasury plans to borrow over 6.2 billion while three month bills rose to 3.76 percent. Tax and monetary policy sparks debate with Ackley and Martin pressing for prompt tax action to curb the deficit.
MENTIONED IN THIS ARTICLE
Treasury
William McChesney Martin
Federal Reserve Board
Gardner Ackley
President
Council of Economic Advisers
Martin
Ackley
Federal Reserve
Stock Exchange Reports Mixed Week On Broad Activity
The American Stock Exchange and Over-the-Counter Market held their own last week with steady activity. The ASE index closed at 19.96 up 0.06, and total volume reached 24.33 million shares for the week. The OTC index rose to 312.14 as reportable earnings moves influenced prices. Notable movers included Electronic Assistance, Continental Materials, Scurry-Rainbow Oil, Rusco Industries and North Canadian Oils LTD as investors weighed earnings and market conditions. Friday’s volume marked a record for the first six months at 504.03 million shares.
MENTIONED IN THIS ARTICLE
Paul A. Samuelson
Massachusetts Institute of Technology
Congress
Ackley
U. S
Leonard H. Lempert
Statistical Indicator Associates
Lempert
F. W. Dodge Company
William D. Smith
New York
American Stock Exchange
American Exchange
Continental Materials Corporation
Scurry - Rainbow Oil
Rusco Industries
North Canadian Oils Ltd
UPI
Inv Res
Invest Group Dealers, Inc
Aberda
Lj Hnstn
Reystone
Val
Asso
Incl
AXE Houghton Lpr
Axel A
Axeh
Axe H
Knikr
Knk
Axe Sci Gh
Blue Rid
Lorage
Lorine
Lexing
Lex Res
Bullock
Loomis Sayles Cdn
Mass Gr
Mass Tr
Mass li
Grwth
Mid Am
Com
Moodys
Morton Fds Chase
Citadel
Cw Cop
Cw Aé& Alan
Cw C&d
Bond
Divid
Incom
Conerd
Nat Wst
New Eng
Nsum
New Or Wees
New Wid
Corp Ld
Crown
One
deVah M
Spph
Decatr
Penn A
Dela Fd
Peoples
Diver Gr
Phila Fd
Diver
Pine St
Dow Divid Shh
Pioneer
Drexel
Providt
Price TR
Dreyfus
Puritan
Botn Ba
Putnam
Eatn Stk
FUNDS
Empiro
Geo
Energy
Grth
Ent Fadt
Equity
Inv
Ent G
Rep Tech
Fairfid
Revereng
Scudder Fed Grth
Fla
Fletcher
Bos
Swst
Bese
Cece
Sovr In
State St
Fran Orsa
Gred
S&g
Stein Am
Fnk BP
Stein In
Stein St
Stein Inv
Fund Am
Sup Inv
Fund Inv
Televy el
Mini
Triplin
Rune
EC Aerosp
United Funds. Com
Accu
Ful Ad
Grth Ind
Sole
rypnAn
Val Lne
Horace
Vanerd
Vanes Inc
Inc Oy
Viking Gr
Walls In
Inc
Wsh
Well
Wert
W Ind
Ted Trad
Wadsor
Winfld
Ince Am
Wiscon
Steelworkers Elect Officers
Dave Chappell was elected president of United Steelworkers of America Local 6214 AFL-CIO, representing Sterling Faucet plant workers. Edward Dunaway became vice president with Lewis A. Albright as recording secretary and Don G. Clingerman as treasurer. Other officers include Willis Corrill, Carmen D Amico, Vic Friend, Roy Britton, Paul Maxwell, Edward Sapenski, and Louise Watson as trustees. Chappell attended the Pipes and Compressors conference in Boston with Gerald Kendrick present.
MENTIONED IN THIS ARTICLE
Dave Chappell
United Steelworkers of America
Afl-Cio
Sterling Faucet Company
Edward Dunaway
Lewis A. Albright
Don G. Clingerman
Willis B. Corrill
Carmen D'Amico
Vic Friend
Roy Britton
Paul Maxwell
Edward Sapenski
Louise Watson
Optimistic Outlook for 1967 Home Building
Mortimer B. Doye of the National Forest Products Association says housing and home building show optimism for 1967 and beyond. He cites looser credit, lower interest rates, a Fed discount rate drop from 4.14 to 4 percent, and reduced points on mortgages as signs of improving money conditions.
MENTIONED IN THIS ARTICLE
Washington
UPI
Mortimer B. Doye
National Forest Products Association
Doyle
Federal Reserve Banks
Southern lumber industry drives South's economy
The lumber and forest products industry accounts for 30 percent of Southern industrial establishments with about 2 billion dollars in annual payroll. It includes 6,176 sawmills and planing mills across 12 Southern states along with veneer plywood millwork paper and logging operations.
MENTIONED IN THIS ARTICLE
Southern Lumber Business
New Orleans
UPI
South
Southern Pine Association
Bank Jobs Remain Strong Amid Bank Automation
Bank executives say the need for new staff persists despite computerization. Northern Trusts vice president Lowrie W McIntosh notes an estimated 65000 openings annually with faster growth expected in New York California Pennsylvania and Illinois. He cites high clerical turnover among women and a rising bank officer corps due to expanded activities and higher retirements.
MENTIONED IN THIS ARTICLE
Toronto
UPI
Lowrie W. McIntosh
Northern Trust Company
Chicago
McIntosh
Industrial Engineers
New York
California
Pennsylvania
Illinois
Sphere Moon Vehicle Patented by Dr Arthur Ezra
A University of Denver professor patents a spherical open-frame vehicle with a central cab that remains level on uneven surfaces for exploration on glaciers polar ice caps and the moon. The patent is assigned to Martin Marietta.
MENTIONED IN THIS ARTICLE
Denver
Ezra
University of California At Berkeley
Bob H. Smith
Robert M. Main
Albert Chiorso
Berkeley
Atomic Energy Commission
Lawrence Radiation Laboratory
Endoscope Advances Bring External Cold Light Imaging
Dr Edward E Sheldon of New York gains patent for an improved endoscope that transmits light via special fibers around corners. The device eliminates the need for an internal lamp, offers cold high intensity light, enabling fast color photography and motion pictures of inaccessible organs. He holds over 50 patents including x ray devices used in hospitals.
MENTIONED IN THIS ARTICLE
New York
Edward E. Sheldon
New York Times Index Dips Slightly Last Week
The New York Times weekly index of business activity slipped to 317.3 last week from 319.3, with the prior year showing 3116. The accompanying table lists the index and its adjusted components reflecting the long term seasonal trend.
MENTIONED IN THIS ARTICLE
New York
New York Times
Finnish metal exports reach new high in 1966
Exports by Finland's metal using and engineering industries climbed to 877 million marks about 274 million dollars in 1966, up nearly 10 percent from 1965, according to the Finnish American Chamber of Commerce UPI reports.
MENTIONED IN THIS ARTICLE
Finnish Metallexports
New York
UPI
Finland
Brewers Use Lots of Corn Starch Says Refiner
The Corn Refiners Association reports Brewers are the largest single group of corn starch users among food manufacturers. Refined grits serve as a malt adjunct because they add minimal protein and almost no fat, yielding a less full bodied beer preferred in the United States.
MENTIONED IN THIS ARTICLE
Washington
UPI
Corn Refiners Association, Inc
Also Mentioned on This Page
Thomas E. Mullaney
New York Times News Service
N. Y. Times Financial
Johnson
Illinois Bell Telephone Company
American Telephone and Telegraph Company
Gov
Ernment
Stock Exchange
Quotation Bureau
Harper & Row
International Textbook
Gerrold Corporation
American Greetings
C. G. Conn Ltd
Andrew Jevens
Anheuser Busch
Selective Fund, Inc
Oyvestors
Investors Diversified Services, Inc
Investors Selective Fund
Lamont C. Morton
Fairmont
W. Va
Cumberland and Alleghany Gas Company
Buckhannon
West Virginia
Stacy V. Jones
Business and Labor
N.Y
Times Index
Paperboor
Farmers' & Merchants’ Bank
Morgantown, West Virginia
Member
Federal Deposit Insurance Corporation
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