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The Daily Reporter from Dover, Ohio • Page 13

Location:
Dover, Ohio
Issue Date:
Page:
13
Extracted Article Text (OCR)

Last week in business Ford reassured worried public NEW YORK (AIM The nation was still searching for the bottom of the current, recession this past week, hut President reassured Americans the economy would improve later this year. "We arc already seeing some significant changes in the statistics that give us more certainty that the recession will end and that economic recovery will be- gin in the third quarter of this calendar year." Ford said in a televised news con ference. Foremost among the encouraging news during the week was the government report that March wholesale prices dropped a seasonally adjusted (Ml per cent, the fourth monthly decline in a row. The job picture continued to look bleak. A govern- ment report issued the day.

after Ford's news conference showed Hie nation's unemployment rate in March jumped to ft.7 per cent from 8.2 per cent a month earlier. The March rate was the highest since 1941. and brought the number of jobless Americans to f) million. Conditions on the nation's credit markets, meanwhile, took a sharp turn for the worse as bond prices fell and short-term and long- term interest rates climbed. Looking ahead to the massive treasury borrowings necessary to finance the federal budget, corporations overloaded the bond market with new issues.

This put upward pressure on all interest rates, resulting in the abrupt ending last week in the steady, four-rnonth-long downtrend in the prime lending rate of major banks. First National City Hank, often a trendsetter, kept its prime rate unchanged at 7'i per cent while other major banks lagged behind at 7 "2 per cent and 7'i per cent. Citibank, in fact, altered its floating rate formula in a way that will delay further prime rate drops. The nation's biggest re- TheTIMES-REPORTER April 5,1975 DOVER NEW PHILADELPHIA, OHIO tail chains yielded a mixed harvest of sales results. March sales at Sears.

Roebuck, the nation's biggest chain fell 2.9 per cent, the sharpest setback for the company in more than 15 years. STORE HOURS: MONDAY THRU SATURDAY 10 A.M. TO 10 P.M. SUNDAY 11 A.M. TO 8 P.M.

GENERAL ELECTRIC QQ ALL-PURPOSE STAND MIXER 1.09 GILLETTE PLATINUM DOUBLE EDGE BLADES PKG. OF 10 GENERAL ELECTRIC AUTOMATIC CORDLESS TOOTHBRUSH Built-in recharging system. 4000 strokes per minute. Includes four brushes. Mfg.

Suggested Retail $13.98 12 selective mixing speeds. Fingertip speed control with settings clearly marked. Versatile may be used as a stand mixer or as a portable mixer. Comes with a 3 qt. size mixing bowl.

Mfg. Suggested Retail $27.98. CLEARASIL CREAM OR OINTMENT 1.2-oz. TUBE RIVAL GRIND-0-MAT Vac-O-Matic base stays put releases at a touch. Grinds raw or cooked meat, fish, nuts, fruit or vegetables.

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About The Daily Reporter Archive

Pages Available:
194,329
Years Available:
1933-1977