Market Advances But Fails to Break Through Dow 900
The market rose but did not crack the Dow Jones 900 level amid heavy trading. The Dow ended up 2.23 at 897.05 as investors weighed rising March indicators against profit taking and expected economic recovery.
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AMC Sells Redisco To Chrysler
American Motors sells its profitable financing subsidiary Redisco Inc to Chrysler Corp to raise cash ahead of 95 million in short term loans coming due on May 31. Sale reportedly values Redisco at over 30 million with annual profits of 3 to 4 million. Kelvinator concerns linger as potential Kelvinator-Redisco package talks fail.
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Fairfield Teen Wins West Point Cadet Appointment
Rep. Donald J. Irwin announced Stephen A. Hesser of Fairfield earned a principal cadet appointment to the U.S. Military Academy at West Point. The Roger Ludlowe High School senior, son of William and Dorothy Hesser, will report July 3 for cadet training after competing as one of six finalists. He lettered in football and participated in track basketball baseball swimming and polo during high school.
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Rhoda Avenue
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Hidden Roman Heating System Found in Patrician Mansion
Archaeologists uncover an underground heating system with hot water pipes beneath a Roman patrician mansion. The discovery occurs as a second century village near Baja Portugal is dated earlier than previously believed.
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Baja
Portugal
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