Wheat First Securities Quotation Brief
Money market update shows quotations provided by Wheat First Securities Inc. for current securities pricing and related financial instruments.
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 17, 1989
Page
3
Money market update shows quotations provided by Wheat First Securities Inc. for current securities pricing and related financial instruments.
Richmond reports the state ranked second in a study of manufacturing climate behind Delaware. The study covers shipments versus national averages, labor force in manufacturing, labor costs, and unionization.
Figures from the Don oghue Organization show bank money market deposit accounts paying 2.5 percent below the average money market fund. Since 1987 bank funds assets fell by 60 billion while money market funds rose by 60 billion as investors seek better yields. Gordon Evans of MetLife-State Street notes assets decline despite high short term rates, indicating preference for alternatives. Openings note Wytheville K mart becomes county's largest store at Mountain View Shopping Center on East Main Street with 86 000 square feet, employing 130 locals. Virginia Miss April Fleming will sign at noon to 3 p.m. and writer John Maddox Ford will autograph 2 to 4 p.m. Mike Pugh leads as general manager from Staten Island.
A federal court approved the bankruptcy reorganization of A H Robins Co, setting aside 2.5 billion for women harmed by the Dalkon Shield IUD. The 4th U.S. Circuit upheld the restructuring, with Robins to become a subsidiary of American Home Products Corp in a 700 million stock swap.
New York stock markets advanced on Friday in the heaviest volume in about five months as traders braved the triple witching hour. The Dow climbed 11.38 to 2,486.38 while NYSE volume reached 244.51 million shares. Major indices across the board gained modestly as Time and Paramount battled over a possible $70 offer for Warner Communications and other big movers such as Eastman Kodak and A.H. Robins influenced by bankruptcy and product liability news.
San Francisco area actions by Gallo and Canandaigua Wine Co remove Thunderbird Night Train Express and Richard's Wild Irish Rose from Tenderloin retailers for a six month trial. Activists urge restrictions to curb street disorder while some store owners fear extended shortages beyond the trial.
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