Northwest Arkansas Times from Fayetteville, Arkansas on June 17, 1974 · Page 7
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June 17, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 7

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Fayetteville, Arkansas
Issue Date:
Monday, June 17, 1974
Page:
Page 7
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Stock Exchanges Hope Arab Investment Will Boost Prices NEW YORK CAP) - You'd corns the possibility that oil be very suspicious if a retailer rich nations will decide that Ihe claimed that he was selling his goods at below cost. The profit system, as everyone knows, demands that everything be sold above cost. On the however. slock is market today, situation that Snoopy Dogs may he mare t h a n jtis! naturally attracted to t h i s fire hydrant in Madison, I I I . A Incal artist has painted the fireplug In look like the car- tonn strip character "Snoopy." Fire Chief Bldon Rhoads To Address Council LITTLE ROCK (AP) -- Ciov. Dale Bumpers will attend a meeting of ttie Democratic party Advisory Committee in Washington, D.C., Tuesday. However, the governor will return to Arkansas Wednesday lo address the state Legislative Council, which will discuss legislation for the upcoming special session of the General Assembly. Bumpers has promised lo give the legislators an estimate of the increased costs necessary to complete the 1073 con- striiclion program in the state. said he doesn't know who performed the job, hut added "whoever is responsible d i d such a good job we plan to leave H painted." {AP Wire- pholo) roughly compares to that situation. Many slocks are selling for less than the book value of the companies they represent. And the list may be growing. Standard Poor's Corp. estimates t h a t 55 per cent of (he industrial common stocks on the New York Stock Exchange are in the "below book value" category. The corporate net assets actually exceed ine market 1 price of such companies. Perhaps no other indicator illustrates more glaringly the indifference or suspicion or disaffection with which the slock I market is viewed today. Stocks are in the same category as hot goods. That this situation should prevail has less to do with the individual companies (ban with the slock market as a whole and the economy in general. It is in (hese latter areas that (he suspicious reside. The structure of the stock market itself remains to be de- ermined. and until it is, the picture it projects is that of something shaky and timid, the jrecise opposite of the image it best way to use their money is to invest in corporate America. While both the New York and American s^tock exchanges are attempting to make this hope a reality, so far there is little real activity than can be depended upon.It is still a wish. Even if the oil money does gush into American stocks in volume, there remains Ihe serious matter of bringing back all those individual stockholders who became dis illusioned in the late 1960s. And, no matter what is said and done, almost any enlightened observer of stock market activity will agree that the indi- 'irlual isn't coming back until: 1. He gets his own financial ituation stabilized. 2. The nation's economy becomes more stable and predictable -That is, more secure or investors. In summary, faith must be restored. When blue chip stocks are shunned as if they were shoddy goods you have to con cede there is a great lack of 'ailh in the future. Lightning Death W Y N N E . A r k . (AP) -- Authorities Saturday reported one death night in connection with severe thunderstorms that marched across the state, producing strong winds, hail and heavy rain. The Rev. Norman Wright. 110, of Fitzgerald Crossing, about throe miles east of here, was killed Stdurday nighl when struck by lightning, authorities said. Officials of the Cross Counlv sheriff's office said the man was standing in his front yard when he was struck by 1'ight- ning. leeds to display. The economy s supplying i'cry litlle of the stable, understandable, predictable environment necessary for healthy stock prices. At the moment, lope rather than conviction marks most forecasts. For three weeks some stock market analysts have been preparing their clients for a substantial decline in the prime in- lerest rate, but it hasn't come. Instead, business borrowing is rising again, and that could lead 'to even higher rates before any decline. Those high rates are a double dose of poison to stocks. First, they raise the cost of doing business. Second, they draw money into bonds that other wise would be supporting the market prices. The latest ray of hope -- one that you'll be hearing a lo about in coming weeks -- con Pilot Satisfactory NORTH LITTLE ROCK (AP) -- Army M. Sgt. James D Montgomery of North Little lock was in satisfactory condi lion .Sunday night after his single engine airplane crashed into an area near a golf course at Camp Robinson here author ities said. Montgomery, an A r m y ad viser lo the National Guard was "up and walking around' after being taken to the Little Rock Air Force Base hospital a Slate Police spokesman sail later. Engine failure apparent!) caused the crash. State Polid said. Capt. Bill Lawson. public in formation officer for the Ar k a n s a s National Guard, sain there was no major dam.iee (c the plane. Biiiiwiiiiniwiiimwrar.oimiiwiiiMtiiiiiiriiiiiimiiiiti By The Associated Press Today is Monday, June 17, he 168th day of 1974. There are 97 days left in the year. Today's highlight in history: On this date in 1972, the Wa- crgate scandals began to un- old as a break-in was dis- overed at the Watergate complex in Washington. In 1579, Sir Francis Drake anded on the California coast and proclaimed England's sovereignty over the region. In 1703, the founder of Meth- idism, John Wesley, was born n England. 1775, the Revolutionary Var Battle of Bunker Hill was ought in the Boston area. In 1040, France asked Germay for peace terms in W o r l d War II. In 1967, Communist China announced it had exploded its first hydrogen bomb. In 1972. the United States announced it had ended its ground combat role in Vietnam, but air strikes continued. Ten years ago: Pope Paul VI announced formation of a ;pcial Vatican secretariat to maintain relations with non- 'hrjslian faiths, five years ago: A Communist summit conference ended in Moscow with majority support of a policy document that omitted any criticism of Communist C h i n a . One year ago: The U.S. Skylab 1 astronauts went into their 24th day in space, breaking a record set by Soviet astronauts. Today's birthdays: Entertainer Dean Martin is 57. Actor Ralph Bellamy is 69. The TIMES li On Top of The News Seven Days a Week r Dl Special Purchase from Can Opener Mode! U C I I Specially priced to make a June's Best Buy! Opens most slandard size c.ins, has removable "easy-clean" culling assembly, h a n d y cord storage. No radio or TV interference. Portable Miser Model UM5 Another handy kitchen helper specially priced. Has three speed fingertip control, push button beater ejector, balanced heel rest, detachable cord. Ilousewarcs--DILLARD'S--Second Floor Open Monday Through Saturday 10 a.m. Until 9 p.m. Today In History Northwest Arkontot TIMES, Men., Juno 17, 1974 FAvrrrcviLLc, Five Known Dead In Offshore Oil Rig Explosion NEW ORLEANS (AP) -Five bodies have been recovered and two men were missing today in the wake o( an explosion and [lash fire aboard an offshore oil and gas platform in the Gulf of Mexico. Twelve men were on the Chevron Oil Co. rig near the mouth of the Mississippi River at the time of the blast Saturday. A company spokesman said seven jumped or were knocked into the 40-foot-deep water. The other five suffered burns. Earl Albarado of Marrero, a Chevron employe who was on a nearby rig, said he saw an ex- plosion that looked like a mushroom envelop the platform. Mis son Anthony, 19, had started work there only that morning. "My first thought . .. was to gel my son," ho said. Albarado and others from the rig got into a boat, went to the damaged platform- and "saw heads nobbing in the water." The father said he heard Anthony yell, "Help me, Daddy, help me!" He pulled his son into the boat and Anthony said, "Aw, Daddy, don't cry." One body, t h a t of Chevron construction foreman E. C. Davison, 56, of Mandcville, was found in the water Saturday; Three bodies picked lip Sunday by search boats were identified as J.J. Toups. 28. of Cut O f f . a Chevron pumper ganger: Uobin W. Noivnand. 13. of Ciretna, ;i Chevron roustabout, and Larry M. Katrincic, 22. of New Orleans, an employe of Harvey Industries, Inc.. a wet- ding firm working on the platform. The other body had not been identified. Still missing were B. G. Powell. 23, of Buras and Carl G. Wedgeworth, 30. Shot In Robbery LITTLE ROCK (AP) -- Cloie Myrich, about 50, of Mayflower was shot to death during a robbery Saturday, police said. They said Mrs. .Myrich and another woman were sitting in a pickup truck when a young man walked up to the driver's side of the truck. He carried two pistols - one in each hand, police said. Police knew of no arrest in the shootinfg death as of Sunday. FIRST FEDERAL UP TO? WHAT IS Up to T*A® Interest on Four Year Certificates of Deposit. Penalties assessed on premature withdrawals of certificates. MAY WE SERVE YOU? 2 Locations To Serve You first federal savings On the Square and Northwest Arkansas Plaza PHONE 521-3424 or 521-3534 » -, " ''"' ,, '' " '··-,.;,'., .1*-.,",'"' \r ""'.,'/· ,-.-.-'' · .','Dl L Famous Brand Polyester Orig. $18 to $36 Non-stop travelers for a comfort lovers vacation plans. A nifty way lo enjoy summer days Select from s h i r t jackets, cardigans. long and s h o r t sleeve shirts, shells, skirts or prints - all in simplv smashing c o l o r s o r green or yellow. Solids or floral prints avail able. 8 to 16. Betlcr Sportswear-DILLARD'S- First Floor Now lt.97 to 23.97 SLEEPWEAR CLOSE-OUT Orig. $5 and More For the night shift l a k e a night shirt, a c a f t a n , baby dolls, shifts, or long romantic gowns. Soft pastels to dream in. Xylor tricot. P. S, M, L. Budget Lingerie--DILLARD'S-i First Floor Optn Monday Through Saturday 10 a.m. Until 9 p.m.

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