Banks Agree to Fines Over Cash Transaction Reporting
Four major New York City banks including Chase Manhattan, Manufacturers Hanover, Chemical, and Irving Trust have agreed to pay Treasury Department fines of 200000 to 400000 dollars each for failing to report thousands of large cash transactions in recent years. Sources say a fifth bank may also be fined and an official announcement is expected.
MENTIONED IN THIS ARTICLE
New York
New York City
Treasury Department
New York Times
Washington
Department
Chase Manhattan Bank
Hanover Trust Company
Chemical Bank
Irving Trust Company
Banks Cut Prime Rate As Stocks Rally Amid Mixed Outlook
New York stocks rose broadly on Tuesday after Morgan Guaranty Trust cut its prime rate to 9 1/4 percent from 10 percent, with banks and brokerage shares leading gains. Gold prices climbed, lifting mining stocks, while concerns about earnings erosion and a troubled computer sector tempered enthusiasm. The Dow gained 6.38 to 1304.77, NYSE composite rose 0.47 to 108.75, and trading volume reached 106.93 million.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Morgan Guaranty Trust Co
Chase Manhattan
Citicorp
Phibro-Salomon
J.P. Morgan
Campbell Red Lake
ASA
Homestake
Commonwealth Edison
NYSE
Cummins Engine
American Stock Exchange
Ark Kaisr al
Stock Exchange
AMR
Mgmgr
Alcoa
Merck
Ss AmStd
At&t
Amoco
Mobil
NCR
Armco
Armwin
AdRich
BorgWa
Comsat
Gensco
Gillette
DowCh
Goodyr
duPont
EsKods
Exxon
IBM Ua
JoyMig
Kmart
Wheat First Securities Inc
Acton
Crane
Enrgy
Robins AH
Allied Corple
Disney
Hughes Tool
Mohasco
Robershaw
Amer Brands
Amerada
Dminion Res
Humana
Gypsm
Rockwell Intl
Duke Power
Ingersoll
SCOA
Intl
Inexco
Newmat
Sara Lee Corp
Amer E
Pwr
Eastern
G&f
Marls
Nik Sthn
Amer Family
Eaton
Thrn Co
AMF Inc
Emrs E
Jim Walter
Sou Roys
Ashland Oil
J&i
Ohio Edison
Avon
Firestone
Kaneb Sves
Spectra Phy
Occidental
Strer
Atlas Corp
Kirby
Bakr Intl
Lear Siegler
Occindtl Bnt
Syntex
Baltg &E
Inds
Lear Petri
Taft
Bank
Coca Cola
Hercules
Mesa Petr
A St
Westnghse
Col Gas
Hosp Corp
Mesa Roy
Revion
Whittaker
Comb Eng
Msa
Ofshr
Silicon Valley firms announce large layoffs and plants shutdowns
Five Silicon Valley companies in San Jose say they will cut over 700 jobs amid a global computer sales slump. Apple Computer Inc. of Cupertino followed with a 1,200 job reduction and closure of three plants, signaling widespread belt tightening in the tech sector.
MENTIONED IN THIS ARTICLE
San Jose, Calif
Silicon Valley
Apple Computer Inc
Cupertino
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Securities, Inc
Inter-Dealer
First Carolina Inc
Fortune Systems
Glaxo Holdings
ADR
Clude
Kincaid Furniture Inc
Ladd Furniture Inc
American Furniture
Magnet Bank
Apple Computer
MCI Communication Tm
Atlantic Research
Pulaski Furniture
Bassett Furniture
Benafuels Inc
Ragen Corp
S & K Famous Brands
Childs
Mercer Mall
Chopra
K. Chopra
M.D
F.R.C.S.E
Stadium Drive
Bluefield
Louisville
Continental
City
Raleigh Kings
Belair Kings
FTC
Hi-Dri
Liberty
Liberty Check
Leenex
Bwiliu
Kimberly-Clark Corporation
Ellis Island Foundation, Inc
Kimberly-Clark
Statue of Liberty
Ellis Island Foundation Acaress
ST Paul
Eas
Stee Eee
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