Greeley Daily Tribune from Greeley, Colorado on May 18, 1970 · Page 16
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Greeley Daily Tribune from Greeley, Colorado · Page 16

Greeley, Colorado
Issue Date:
Monday, May 18, 1970
Page 16
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Page IB GREELEY TRIBUNE Mon., May 18, 1970 Stock Market in Review By CAROLE MARTIN AP Business Writer NEW YORK (AP) - After skidding sharply for four days, (i., ,,-Kv'k market closed out the past week on a strong upswing. IL ,.., urs were keeping their f 1 ..... rs crossed that this might be signaling a process. bottoming-out On Wednesday depressed stock prices sent the Dow Jones average of 30 industrials below the 700 mark for the first time in seven years. And on Thurs- Kompong Cham Recaptured By Cambodian Army Forces By THE ASSOCIATED PRESS since_ April 8,_19G8, by closing ] au ' nc | ict | a nc \ v dl . ivc i n ( n i; ., m . bodiii, reaching (lie southern cilv of Takeo in a 20-mile llmisl. From Zales... Graduation Gifts Most Likely To Succeed Friday, when (he Dow recorded its biggest single-day advance SAIGON (AP) -- Cambodian Cambodian soldiers who had forces recaptured Kompong been captured by the North Cham Sunday and the allicslVietnaincse. ahead 17.43 at 702.22. The market's gains late day the Dow was down about 18 Thursday and Friday indicated points before a rally developed late in the session and held the loss to only 9.01 points. The technical rally continued 14 KARAT GOLD GENUINE STONE HEART PENDANTS STERLING SILVER KEY RING $750 Convenient Terms Available O ZALES IFwrtins We're nothing without your love. llluilroliOM Ti-lorg* to some analysts that the bol- lom might be forming. One broker noted thai lhe strong showing came at week's end Friday and on very good volume. Other analysts remained cautious, however, pointing out that the basic reasons cited for the recent market slump-- llu war in Indochina and the eco nomy--remained unchanged. Still, the consensus seemed lo be lhat the market had seen its lowest levels for a time. Despite its leap forward Fri- Thcy also reported freeing 35( Kompong Cham, 50 miles northeast of Plmnm Penh and 90 niles north of Takco, had been penetrated Saturday Vietnamese troops by North but they were driven oul in a ground-air assault Sunday. A U.S. commander meanwhile announced that American forces had seized part of the Commu- day was week. The Associated Press 60- nisl command's major field headquarters. More than 10.000 South Vietnamese troops with 200 U.S. advisers made the latest, move inlo Cambodia, slashing across the Dow Jones average | fne frontier west of Saigon down 1S.51 points for the (he Sevcn Mountains area that Maj. Gen. Ngo Dxu, over-all commander of the Takeo campaign, said the enemy Iroops had fled toward Ihe Cambodian :apital of Plmom Penh, 40 miles north-norlhcast of Takeo. sweeping near rubber planta- U.S. soldiers, Ihe Cambodian tock average was off 6.8 at 245.7, and the New York Stock Exchange's index of some 1.200 common shares declined 1.47 t o , 42.14. serted Of the 1.749 issues Iraded on the New York Slock Exchange !j during the week, 1,400 declined, j! and 251 advanced. New yearly! lows outnumbered new yearly highs, 1,074 lo 4. i Volume on the New York Ex-j change totaled 56.74 million shares for (lie week, up from the previous week's level of 52.88 million shares. Among the 20 most-active is- has long been a haven for Viet;school. lion town of Mimot. in the fishhook area, found the bodies ol 151 enemy soldiers killed by air strikes earlier. Other American troopers in Ihe same region uncovered a massive communications cache holding 190 generators, radios, radio receivers and field telephones. A U.S. · spokesman said the cache may have been a communications center for the Communist command or a training Cong-North Vietnamese troops. They reported killing 147 enemy soldiers in the drive lo Tak- ncarly de- cn ( 0 red the city without ' Capture nf the field headquar- Ici's of flic Communist command, labelled COSVN, is one. of the main aims resistance, thriisls into Cambodia. Business Highlights Man Charged With Planting Bombs in N.Y. Irish Outlaw Chief Jailed On Truck Stealing Charge By JOHN HENRY AP Business Writer NEW market YORK prices ( A P ) over the pas 1 . week fell sharply but then made strong comeback. NEW YORK (AP) - A 41- yar-old cabinetmaker de-scribed by police as a Puerto Kican militant was ordered held Sunday in $150,000 bail after being charged with planting 35 bombs around New York City, including one Ibat went off in the New York Public Library at 42cid Street. The man, Carlos Feliciano ol East Harlem, was arrested Saturday night by two detectives who said they apprehended him as he placed a pipe bomb at an Army recruiting booth in the heavily Puerto Kican southeast Bronx. Bail was set by Criminal Court Judge Bruce Wright, before whom Feliciano was broughl on an affidavil charging him with bombing Ihe mair of the allied branch of the library last Dec. f and "34 other buildings where persons were present at the time. Neither court papers nor the district attorney's office wenl into delail about (he allegec bombings. A bomb at the library Dec. did lillle damage when it wenl off aflcr closing time, police said at Ihe lime of the blast. nionlhs. The drop was due mainly to a decline in food prices. Not so encouraging to inflation fighters was the news thai. Unites Stales Sleel Corp., the in-J5 ma || Portion dustrv leader, was increasing! ' (AP) -- Colorado may have to provide The Dow Jones average of 30: j(s b ' sic sleel ' prjce by 4.7 per l DENVER industrial stocks jumped 17.43 to cenl The pl . odllcls invo | ve(1 ilc .jtaxpayers r sues the past week, 16 declined and 4 advanced. The five most active issues on . ,,,,,,,,,,.,, ,,....., ,-, ......... the New York Stock Exchange 702.22. The Dow had nol gained ( . ()u|]t f(|| . a| ]cast 3( , per cent of .. a sma n portion" or the S14 mil were Telex, off 2ft at 16%: U n i - a s much since April 8, 19681,. j i n f l u s t r v shipments and:lion to $16 million which it is versity Computing, down 6",1 to-'·" : ' "'"""'' 1 D ' M r """' cl - - - "-' 26'.'a American Telephone, off at 4654: Xerox, down 2 at The ' when : ahead. iofl"4; and Perm Central, off 3 to day's surge followed performance when ITM" 1 ' 5 ! are used m such consumer prod-jeslimated the 1976 winter Olynr ,., iucls as automobile and refrig-'pics will cost, Gov. John Love 1 hurs-. . __:,] TT-..-.J DUBLIN (AP) - Police ar- ested the chief of staff of the outlawed Irish Republican Army Sunday on a truck steal- ng charge, drawing fresh atlen- ion to the gun--smuggling furor hat shook the government of 'rime Minister Jack Lynch. Cathal Goulding, who has spent 17 of his 48 years in Irish ·md British Jails as a militant nationalist, and an associate, Michael O'DriscolI, were refused bail and jailed. Police said they were seeking three other men who escaped after s stolen ;ruck was stopped in a Dublin suburb early Sunday. Goulding and O'DriscolI were charged with stealing a truck valued at $960. No weapons were found in the truck, police said. Lynch's moderate government won a 73--66 vote of confidence eight days ago after the irime minister dismissed two cabinet ministers. Lynch accused the two ministers of involvement in a plot to smuggle $72.000 worth of guns to the Roman Catholic minority in Protestant Northern Ireland. Sources close to the IRA said "We had nothing to do with the ?un--running scandal that has Dedevilled Mr. Lynch's adminis- :ration. It sounded like an attempt to trap us." There was no official disclosure of evidence that the weapons, which were lo be brought in from Vienna, ever reached Ire land. Lynch told parliament tha Roman Catholics in Northern Ireland had asked him and oth er members of his Dublin gov- ernment for arms In the past year of Catholic--Protestant ·ioting. "I told them we could not and would not supply any guns," he said. Goulding, an admitted revolutionary, runs a house painting business in Dublin and had been permitted to move about freely. He recently told a reporter, however, that "I know my phone is tapped and my mail is opened and my movements are watched." The Irish Republic Army is outlawed in both the Republic of Ireland and Northern Ireland. As a known IRA activist. Goulding could have been arrested at any lime under the Irish Republic's offenses against the stale act. Agreement DENVER (AP) - A preliminary a g r e e m e n t has been reached for $30 million in new. financing for Great Western Cities, Inc., according to William M. White, chairman and president of Great Western United Corp. Great Western Cities Is a wholly-owned subsidiary. White said when final agreement is reached, the funds will be taken down as needed, and a portion will be used to repay existing obligations of Great Western Cities. The majority of the funds wi be used for the additional development of the company's new city projects at California City, Calif., Colorado City, Colo., Co- chili Lake, N.M., and 3R Ranch, Colo. j orators. |Said Friday. Beiiiiehem, the industry's sec- Responding to a news con , . - - , . . , , , ,, , nn ond largest producer, had an-lfercncc question he said many after having fallen below the 700 nounccd a s . mi]ar inc[ . case , as( ()f ||)e racil j t j es , vhich wil i be Dow average skidded lo H34.7P', ID'S. The five most-active Issues on Oie Amcx were: level on Wednesday lor me nrsi jj'^'J," ' "" ]U sed already are in place. Milgo Electronic, off 4% at time in nearly seven years. ] n d,,'siry observers believed! When the Olympics were held 25Vs; Equity Funding, off 4'.z lo| The drop came after a more , ]la ^ jn ;, jcw nf ,i, c nlovcs -byiat Squaw Valley in California, 16-Ti; Niagara Frontier Service.'gradual slide thai saw Ihe paper;, ne ', wo biggcsl companies. Ihe Love reported, the federal gov- unehanged at 3's; Digitaljvalue of common slocks traded res , of i n e 'industry would [nl-ernment provided some of lhe. Equipment, down 34 to 74'i:|on the New York Slock K x ] m v · Inioney for facilities. He noted land Stylon off 2'z at 7 : 's. (change decline by SI.19 billion ,,.| le commerce Department Hint some of the cost will be ' All sectors of Ihe bond mark-ifor $M)?, billion in Ihe period. r)cf | Tlk , S( |ay thai business defrayed by television rights and " . . . . . . . . . ,-.. -..-..j charges, Digitaljvalue of common slocks traded res , of o 74'i- on the New York Slock Kx- , " feline by S139 billion n ^ __ _ billion in Ihe ^ ^ ^^ _ ct'declined the past week. Most!from December, 1%8 to end of 'j^veninri-s in March rose slight- some by attendance government issues closed above.April. !]y j n February while sales de- among other things. their lows Ihe previous week.j Investors, confronted with Hie t ;| jnc( | T | ]c sl| - jmp jn sn]cs was - -- however. Corporate prices de-!biggesl market losses since. | h p ^..^ decline-Si.(17 bil- 'clined. Municipal bond prices de; World War II. were completely l j o n _ si|y , 0 a $J 24 hi]ljon d ,. op Alined for the seventh consccu-jdemoralized, many analysts. , ns| N ,, vcmhor : tive week. isaid. Sales in Hie firsl qu.irlor dp- I I Some brokers were equally t . l i l ] C ( j ? , ,. 1)j||jrm f| . nm |ho 1 Ipessimisfic. "My customers tm,,.,!,.^,,,.^. | CV cl | as | vcnr . keep asking me when the sell- |h( , ri| . s , decline since the first ioff is going lo end," smrli one. " m , r ,,, ,,,,'-.loll them lhe truth. Hell t h e m ! Thc aut ,, mn bj|e induslrv re- Flower Plants LARGEST SELECTION IN TOWN · 60 varieties Petunias · 30 varieties Geraniums · All colors Pansies · All varieties other flowers · Peppers · Egg Plant · Cabbage Miller's Vegetable and Greenhouse 2 mi. South on 1st Ave. (from Sugar Factory) Diamond-Studded EDMONTON. Alia. - nionlon, a city of 440 DUO, boasts d ~ ol V, T ;lmw . · , , ,, h 426 baseball diamonds, 12 golf M;iny factors appeared lo con- |. a ,. sak , s ,, n .,',1.,^, ,, 1(c hnM ,. jn courses and inure than 13 acres trlhl ,, 0 ,,, ,|, c dciiinraib.aiion |)]e fjl . s , m days'of .May. This of parkland for every 1,000 »« | J^^Jnanc.-, comrnnn, ,, prpscnteri l h e sharpcsl drop in · ' 'vnlvcment in Camhodia, Ihe prospect of inlensificd conflict in the Middle Kasl and continu- '· BONN -- The Bundesbahn,.cd unrest among the nation's 'Wesl Germany's federal rail-youth. road system, last year cut its On Ihe briphl side. Ihe govern- deficit from S324 million to $2Sfi menl reported Monday t h a t imillion although wage costs,wholesale prices in April held 806 8th St. Use Your BankAmericard Open Frl. t i l l 8:30 35Z-6957; were S175 million higher. .slable for the firsl lime in 18 Roil Deficit Cut Climb aboard our swi MEN'S WOMEN'S 3-SPEED BICYCLE Lightweight bicycle, 3 speed hub and twist grip control. Caliper h a n d brakes front-rear. Reg. 44.98, NOW BOYS' 5-SPEED 'SWINGER' BICYCLE 20x16 'Swinder' bike with chrome plated 5 speed stick shift console plus parking brake. Flamboyant lemon-lime. Reg. 69.98, NOW BOYS' OR GIRLS' 20" S W I N G E R His has cheater slick rear tire. Hers has racing white basket stripe. Both saddles. have banana Reg. 42.98, NOW 20" JUNIOR 'SWINGER' BIKE 20 in. Jr. 'Swinger' side- walk hike with training wheels. Chrome plated hi- rise handlebars, rims, fenders, chainguard, Reg. 36.98 , NOW 824 8th St. The Outdoor Place Open 5 Nights 'til 8:30; Sat. 'til 5:30 daily sales for a reporting peri od since October. Iflli7. when there was a Ford Molor Co. strike. Tin 1 government indicated during the pasl week il was opposed In unpnr! quotas dcspile a rising tide of support for prolpc- fionsim. Carl J. Gilbert, Presi- dciil Nixnns' chief trade official, said Ihe administration disapproved ol legislated import quo- ias on lexliles and shoes. GilbtMl ii!il in- f.-iMired a volunlwry solution" to Ihe lex- lilc problem. He said a plan lo help lhe shoe industry, which he did nol specify, would be disclosed soon. One ol Hie more dramatic shakenps in recent corporate history occurred during Ihe week. Bernard Cornfcld, the flamboyant head of Investors Overseas Services. Ihe Geneva -- based mutual fund, resigned from his posl. The value of the fund's shares had declined sharply recently. The drop was attributed lo Ihe fact Hie I.O.S. had experienced its firsl operating loss in the March quarter and to specula- lion thai earnings predictions for 19li!l would not materialize. idle Roils Down hi West G e r m a n y KllA\KP't:RT I API -- The number of unemployed in Wesl Germany drnpped In 120.600 in April, down from 197.800 in M.-irch. 'lie federal labor office annniiiiced. Chick Hatched ATLANTA - U-sl ycnr's U.S. hrnilor lype chirk Iwlch lolnlcrl :;.fl'24 billion, Ihe firsl lime it had ever hern over 3 billion. II u;is Hip 2.'inl slr,'ik;hL year the liaU-ii liad iniTcascd. 026 9th A v c . for Women nnd Teens Quality Shoes i .1OHANSEN I N A T U R A L I Z E S I HUSH PUPPIES ! V I V A A M E R I C A N A i LUJANO SANDALS I U.S. KEDS Use Your Here 824 8th Street the Penncrest 'Swing 'n' Sew' That's me,doE. ·The portable portable zig zag sewing machine in my own Q!J) groovy case.. I'm a lightweight.. .under 20 pounds, so folks take me everywhere.^ But am I heavy on talent! I go backwards and sideways. -*».i-*fc. T- T f --S. /^ T T T -· ·--· .-T M£IT*Y") 'J ^**^ / I ^(^*fl Irm ·"' *''·'' v ' r *'* r5) buttons and ·» buttonholes forward and I hem, I mend, | I baste.^T|^ I do ^ and / \ zippers, and just about anything a sewer could ask for. ^^ I'm wonderful, and beautiful, Jt^sand fabulous, and the best thing about me is - I'm so modest! Modest weight-under 20lbs. Modest price - just 99.95 I'm yours... on PenneysTime Payment Plan. Open 5 Nights A Week Till 8:30; Saturday Till 5:30. Charge

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