NYSE Morning Prices Report Cited By Analyst
The New York Stock Exchange opens with prices noted amid remarks likening money to blood and its circulation. The article cites a comment on regulation and market flow.
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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Aug 13, 1973
Page
1
The New York Stock Exchange opens with prices noted amid remarks likening money to blood and its circulation. The article cites a comment on regulation and market flow.
The stock market opened mixed with slow activity. The noon Dow Jones average stood at 823.69, down 4.85, as gainers barely outpaced losers on the New York Stock Exchange.
Harris Bank of Chicago economists report Americans are ready to buy furniture refrigerators stoves and TVs. They note higher spending and savings and reduced installment debt in the first half of this year, driven by jobs gains tax rebates and lower withholding taxes.
New York State imposes no personal property tax on manufacturer machinery equipment or inventories per the State Commerce Department. The Commerce Department states the tax exemption covers machinery equipment and inventories used in manufacturing facilities within the state.
Leonard Hankin 57 executive vice president of Bergdorf Goodman was fined 25000 and placed on probation for one day after pleading no contest to conspiring to fix prices of women's clothing. He had been ill, and the sentence completes penalties for Bergdorf Goodman Saks Bonwit Teller and related executives in the same case.
The Federal Trade Commission charges Gulf Oil Corp. with violating the Truth in Lending Act by not disclosing that credit costs are built into merchandise prices in mail solicitations. The complaint says ads claimed no finance charge while prices included credit costs, and the FTC seeks a required notice.
C Patrick Schulke is named vice president of P C Food Markets and general manager of corporate stores. He will oversee all firm operations, per Earl M Eden, the president. Schulke has broad food distribution experience, most recently serving as vice president operations for King Kullen Grocery Co., Long Island.
Allied Chemical Corp will get back more than $500000 in customs duties paid for repair work done in Canada on railroad cars for Solvay's Industrial Chemicals Division. The 4 bill, signed by President Ford, aims to refund duties after Allied covered cross border repairs delaying coal shipments.
The Fifth Avenue Association asks its 1,000 merchant and landlord members to lend a hand during the sanitation crisis. Michael B. Grosso says the group alerted Sanitation Commissioner Robert Groh about overflowing litter baskets and trash problems caused by budget cuts. He urges stores and buildings to deploy maintenance crews to keep baskets, sidewalks and roadways clean.
SENECA FALLS Jack C. Enright of the Lake Road has been appointed manager of foundry operations at Goulds Pumps Inc according to H R Simple vice president of manufacturing for the company Enright was formerly associated with Vulcan Foundry in Oakland Calif where he was foundry superintendent prior to that he was employed by Atlas Foundry in Detroit and Mechanite Metal Corp in White Plains
P F Industries reports six months ending June 30 1975 income from continuing operations 1 236 736 or 24 cents a share on 34 805 506 in sales down from 1974 six months 1 446 729 28 cents a share on 37 959 695. Three month income 994 115 19 cents a share vs 1 054 410 21 cents on 19 971 836 sales. Bilner division loss 18 cents per six months and 15 cents per quarter. Sidney Horowitz says cash flow and earnings will improve. refinancing planned to shift short term debt to long term. Cal Metal Corp Torrance Calif to become key supplier. 6 million steel pipe contract won for SA project. 23 acre Irwindale plant complex purchased. operations to relocate by year end. Triangle Sheet Metal Works and Horowitz Bros. remain profitable with strong backlogs.
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