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Stock Market / Economy #56530

ABC Evening News for Wednesday, Oct 10, 1979
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(Studio) Busiest day in history of New York Stock Exchange reported Govts. efforts to control inflation noted as raising interest rates and restricting money supply. New York Stock Exchange tape shown. Trading graphed. Uncertainty re: future stated.
REPORTER: Frank Reynolds

(NYC) Aspects of day's trading reported; scenes shown. [Bache analyst Lawrence WACHTEL - comments. Speaks of government's action, public's reaction.] [Charles SCHULTZE - notes risks.] Dow Jones reported and on screen. 1929 crash recalled. American Stock Exchange index reported and on screen. Over-counter stks. reported Stkholders.' lack of faith in government's economy actions stated.
REPORTER: Dan Cordtz

(DC) Alfred Kahn's appearance at congress hearing reported [KAHN - speaks of discouragement.] Gold and copper price rise noted. [KAHN - notes significance of copper increase] Inflexibility of government In economy program noted.

(Studio) Sanford Weill, investment banker, quoted with regard to orderly manner of stock market's reaction. Weill's positive reaction to government approach noted Fear of rise in unemp. said present.
REPORTER: Frank Reynolds

Cordtz, Dan;
Hume, Brit;
Reynolds, Frank

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