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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 29, 1982
Page
7
New York stocks rallied Monday but volume stayed light and analysts remained cautious. Dow Jones up 8.85 to 811.93 after Friday fall, NYSE turnover 40.7 million shares, S and P indexes also higher as traders noted Fed money supply drop but worried about next month monetary growth.
The Supreme Court ruled 6-2 that a federal regulation allowing immediate mortgage repayment on sale supersedes conflicting state limits. Due on sale applies to federally chartered savings and loans, not to state-chartered lenders. The decision aims to keep mortgage credit flowing and may boost housing activity through stable credit, per industry and consumer advocates.
The Supreme Court ruled 6 3 that states need not provide sign language interpreters or maximize each handicapped child's potential. The decision limits federal education guarantees under a 1975 law and applies to a deaf child in a regular class, affecting about 4 million disabled students. The ruling also struck down a 1984 bankruptcy law, though it left existing cases intact with effects delayed to Oct 4.
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