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Newspaper
The Times Herald Record
Location
Middletown, New York, United States of America
Date
Jun 20, 1975
Page
5
The $26 million federal suit between IBM and Catamore Enterprises stalled as a juror fell ill after 57 days of trial. Chief Justice Pettine recessed the panel to Monday to avoid a mistrial while IBM operates plants in Fishkill Poughkeepsie and Kingston.
The piece notes Dr. Galbraith's retirement will let him pursue nonacademic activities, sees Harvard gaining while the world loses. It laments frequent Washington agency actions against businesses, suggesting a trend toward aggressive regulation. It argues charges vary from grave to frivolous and dampen investment sentiment.
New York stocks rose with the Dow Jones Industrial Average up 17.52 to 845.35 as about 1,110 issues Advanced and 350 Declined in volume of 21.45 million shares. Analysts cited internal factors and stronger May income and housing data as supporting the move while noting OPEC price expectations and SDR oil pricing news.
Local stocks show mixed action with Moore McCormack up 6 percent to 74 after an ore test drilling hint. Elgin National 174 up 1 percent while AE Staley Mfg adds 2 to 38. Among active issues IBM gains 4 percent to 208, Texas Instruments rises 4 percent, Polaroid 345 up 1 percent, Eastman Kodak 1034 up 3 percent. Short NYSE interest falls to 26,062,869 shares. AMEX index closes up 1.16 at 90.63 with shares up 13 cents. The merger between Elgin National and Utilities & Industries Corp is postponed indefinitely amid investor opposition over value.
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