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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Dec 15, 1981
Page
11
Over the counter securities described in a brief note outline trading categories and regulatory references. The item mentions market structure and potential investor implications without detailing specific instruments or dates.
New York trading fell sharply as investors priced in higher rates and a slowing economy. Dow Jones dropped 15.03 to 871.48 with most losses in opening and closing hours. Volume slid to 44.74 million on the NYSE while S&P indices fell, and notable moves included MGIC Investment and Baldwin United amid a $1.2 billion deal.
The Reagan administration outlined legislation to tighten black lung benefits eligibility and double coal taxes, aiming to solvent the fund by 1995. Critics warn of higher consumer charges and insufficient reform, while supporters include coal operators and the United Mine Workers. 85,000 current beneficiaries and widows face a $1.5 billion fund debt, with projections climbing to $19.7 billion by 2010 under proposed changes.
A 1982 session preface items include a bill to pay elderly, disabled and blind SSI recipients $20 a month for individuals and $40 for couples, with a $16.5 million yearly cost estimate. Also filed are a permissive hotel motel occupancy tax measure, a ban on free WVU football tickets for lawmakers, and HDF condemnation limits targeting large property owners. Carbocol eyes long term coal sales with Japan and Exxon, aiming for 15 million tons by 1990 from El Cerrejon, with initial production in 1986.
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