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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 22, 1994
Page
5
U S markets extend declines as the dollar weakens against the yen. The Dow falls 33.61 to 3,708.29 while the Nasdaq and NYSE composites drop. volume rises with 509 issues up, 1,739 down, 599 unchanged at 4 p.m. Trade curbs trigger on computer guided orders.
The dollar fell to a postwar low versus the Japanese yen as a sharp 22.1 percent April trade deficit raised fears of higher Fed rates. Analysts warned further declines could follow unless the United States and partners intervene, with the currency sliding to around 100 yen per dollar.
Lowe s Companies filed a preliminary prospectus supplement covering 9,000,000 shares of common stock with an option for 1,350,000 more to cover underwriters over allotments. The offering, part of a $500 million equity and debt securities registration, will be near end of June and funds will back store expansion and corporate needs. Underwriters are Montgomery Securities and Merrill Lynch. SBA seeks late proposals from West Virginia firms and minority institutions for management and technical assistance to small disadvantaged companies, with August 25 submission deadline. Coulthard joins Delores B. Crouse Real Estate in Tazewell, bringing over 20 years banking experience. resides in Goose Creek Estates with wife Diana.
Alderson Livestock Market reports June 17 sales totaling 28 660 07 with stockers feeders calves and slaughter cattle including cows bulls and cow and calf pairs plus sheep lambs and goats prices. Bluss Market in Lewisburg sold 147 head June 18 for 32 39 with similar categories and price ranges across stockers feeders heifers bulls cows and sheep.
In May twenty six of West Virginia’s 55 counties posted unemployment at 10 percent or higher, down from April and March, while no county hit 20 percent. Hardy County had the lowest rate at 3.9 percent and Calhoun County remained the highest at 18.9 percent as the statewide rate fell to 8.9 percent. The national average stood at 6 percent. West Virginia again held the nation’s highest unemployment rate in May, despite the dip.
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