Market slides as 1975 gains fade in cautious session
Stocks drift lower on Monday amid doubts about economic recovery. Dow Jones ends at 838.63, down 5.75, after Friday drop. market shows a sawtooth pattern within 820 to 860 since October.
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Newspaper
Winchester Evening Star
Location
Winchester, Virginia, United States of America
Date
Dec 23, 1975
Page
2
Stocks drift lower on Monday amid doubts about economic recovery. Dow Jones ends at 838.63, down 5.75, after Friday drop. market shows a sawtooth pattern within 820 to 860 since October.
United Airlines expects 80 to 100 percent capacity today after a 16 day strike but faces a strange problem too few passengers. The airline operated at 36 percent of normal levels and officials could not predict exact passenger numbers as the situation changed rapidly.
President Ford arrives in Vail Colorado for an eight day Christmas stay but will ski without his regular instructor Dennis C Hoeger who is on Christmas vacation in Denver. Ford will be joined by Betty and Jack with other children arriving separately and will rent Richard Bass’s chalet.
Pentagon sources say Rumsfeld concluded Russia did not test laser beams to blind U.S. satellites. He noted no evidence of violations of the 1972 arms pact while intelligence linked a Russian infrared flare to a Russian gas pipeline rupture.
Edward Wray Belvin, 31, of Marqus, was given a 47 year prison term by Gloucester County Circuit Judge W. Moscoe Huntley after being found guilty on three counts for abducting 63 year old James Emmet Curtis of Clay Bank last August.
Congress is staying within its self-imposed ceiling for fiscal 1976 though six months remain. The $374.9 billion limit and $74.1 billion deficit were set with a $1.7 billion cushion, but upcoming anti recession measures could consume it. Budget panels vow to block overage while emergencies could prompt a new ceiling.
Truban shows a balance of 1 876 with 3 864 in contributions and 1 965 in expenses plus 2 000 loan payoff.guest lists 1 876 balance with 3 468 received and 712 spent plus 3 040 loan repayment. Smith reports 898 in contributions and 1 048 in expenses.
The hospital faults council for changing ground rules by permitting opponents to speak at a Wednesday meeting while the hospital was barred from discussing its expansion plan. Councilman Keyton notes large petitions signal public notice and urges council to respond. Dr. Hancock and hospital staff clarify the staff’s stance on the zoning ordinance and the hospital district as recommended by the Planning Commission.
Band leader Doc Severinsen was wheeled on stage in Las Vegas after a fall in Burbank left him with a broken leg. He arrived in Nevada, received a cast, and sought treatment at a local hospital. He earlier tripped boarding a plane in California.
Mostly clear and cold tonight with lows in the low to mid teens. Wednesday brings mostly sunny skies and highs in the low to mid 30s. Extended outlook shows a chance of rain or snow Thursday night or Friday, then fair and cold. Rainfall data covers December to date and five year averages, with 1972 the highest at 53.02 inches.
Dwight L. Chapin, Nixon appoint ments secretary, may be paroled after an order cutting his sentence from 10 to 30 months to six to 18 months. He began serving at Lompoc minimum security facility on August 11 after a grand jury perjury conviction. Judge Gesell cited a warden’s report urging early parole.
A Southern Bell worker slipped a note to a credit union teller who alerted police, leading to the arrest of Michael C. Tucker and William Martin Ellis, both of Lynchburg Virginia, on charges of kidnapping and extortion after abducting Douglas Parker for a $5000 ransom. Parker was held overnight in a motel before the note prompted police involvement.
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