Stocks Decline as Markets React to Rate Hikes and Debt Fears
New York stocks fell for a second straight session to a seven week low as rising interest rates and fears of wider debt problems weighed on sentiment. The Dow closed at 1,185.50, down 9.41, with Bankers Trust Citicorp and Chase Manhattan among decliners. Lenox Inc jumped 26 percent after Brown-Forman Distillers proposed a bid at 87 dollars a share.
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Lenox Inc
Brown-Forman Distillers
Kaisr al
Ss Alcoa
Merck
Armco
NatCan
Armwin
Maulrich
duPont
EsKod
Exxon
Ms Royld
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Scott P
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Gensco
Getty
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Unocal
IBM
William
IntHarva Sa
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Lear Petri
Quak Sto
Allied Corp
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LTV Corp
Revion Amer Brands
Eaton
Levitz
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el Paso Co
Sony
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Elec
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Wheat First Securities, Inc
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Bluefield Supply
Burke Parsons
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Equinox Solar Inc Bi
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MCI Communication
Miller Tech Ts Th Mar
Pulaski Furniture
Quadrex Corps
Sunlite Oi CoiMah
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Wilson Foods
Bridge A
Supreme Court relaxes search warrant rules on anonymous tips
The high court backed a looser standard for probable cause when police act on tips from anonymous sources, allowing corroboration rather than full reliability. It declined to decide whether illegally seized evidence must always be excluded, postponing that major issue. The Bloomingdale case involved Lance and Susan Gates and 350 pounds of marijuana seized after an anonymous tip led to a warrant.
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Supreme Court
Illinois
William H. Rehnquist
Rehnquist
Aguilar
Bloomingdale
Lance
Susan Gates
Illinois Supreme Court
Gates
Florida
Federal Drug Enforcement Administration
Debate Over Pickering as El Salvador Envoy Splits Leaders
Conservatives clash with the Reagan administration over Thomas R. Pickering’s nomination as ambassador to El Salvador. They argue his record aligns with Carter era Third World policies and oppose NSC favored figures, while State Department officials defend the choice as a policy direction dispute rather than a shift in aims.
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Thomas R. Pickering
el Salvador
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Howard Phillips
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Jesse Helms
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Shultz
Thomas O. Enders
NSC
Ender
British Elections Today See Thatcher Faces Narrow Choice
Britons vote to decide whether Margaret Thatcher’s Conservatives win a second landslide, join a centrist alliance, or reject the two party system. Polls show a Tory lead but Labor and the Social Democratic Liberal Alliance predict a pivotal shift in British politics.
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Margaret Thatcher
Thatcher
Ihen
Labor Party
Michael Foot
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Social Democratic-Liberal Party
David Steel
Denis Healey
Foot
Healey
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Alliance
Britain
Blaenau Gwent
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