Investor uncertainty drags averages on slow trading day
UPI reports a downbeat session as the Dow dips 10.37 to 942.54 amid investor doubt over the economy and inflation after a strong jobs report. Trading slows with volume down on the NYSE and NASDAQ, while Procter & Gamble United Technologies and Merck lead downdrafts and rumors swirl around potential mergers.
MENTIONED IN THIS ARTICLE
New York
UPI
Dow Jones
Procter & Gamble
United Technologies
Merck
Dow
New York Stock Exchange
Northwestern Bell Corrects Canada Long Distance Discounts
Northwestern Bell Telephone Co. reports errors in its customer guide listing Canada long distance discounts. Correct rates are 35 percent off from 6 p.m. to midnight Monday through Saturday and 8 a.m. to midnight Sunday, and 60 percent from midnight to 8 a.m. any day. Discounts apply to total dialed direct station calls and to additional charges for operator assisted calls.
MENTIONED IN THIS ARTICLE
Canada
Northwestern Bell Telephone Co
U.S. Money Supply Slips in Latest Week
U.S. money supply M1B fell $200 million in the week ended July 29, signaling a contraction that economists say the Fed cannot ignore. M1A rose to $360.3 billion, while M1B declined to $428.4 billion from $428.6 billion, suggesting rate pressures and potential Fed accommodation ahead.
MENTIONED IN THIS ARTICLE
Federal Reserve
NYSE
U.S
New York
UPI
Fed
David Jones
Aubrey G. Lanston & Co
Jones
Babcock & Wilcox Wins Large Radiant Boiler Order
New Orleans UPI reports Babcock & Wilcox division of Mc Dermott Inc obtained a contract from Houston Lighting and Power Co for two 680 megawatt radiant boilers.
MENTIONED IN THIS ARTICLE
New Orleans
UPI
Babcock & Wilcox
McDermott Inc
Houston Lighting & Power Co
Jobless rate hits 7 percent in July
The U.S. unemployment rate fell to 7 percent in July, the government reported Friday, marking the lowest level in more than a year and defying economists' expectations of slower growth. The report notes a drop in the unemployed figure as part of labor market data.
MENTIONED IN THIS ARTICLE
Washington
UPI
Labor Department
Murray Weidenbaum
Council of Economic Advisers
Allen Sinai
Data Resources Inc
Janet Norwood
Bureau of Labor Statistics
Norwood
Michigan
Detroit
Dave Ernst
Evans Economics
Ernst
Hy-Vee moves into Omaha market with four centers
Hy-Vee Foods plans to anchor four suburban Omaha shopping centers, each with a 36,000 square foot Hy-Vee supermarket. Construction costs for buildings total an estimated 15 to 20 million dollars, based on 30 to 40 dollars per square foot. The project aims to attract regional and national tenants and adds four Hy-Vee locations to Nebraska.
MENTIONED IN THIS ARTICLE
Omaha
Noddle Development Co
Harlan Noddle
Noddle
Jay Lerner
Dwight Vredenburg
Hy-Vee
Chariton
Iowa
Missouri
Minnesota
Illinois
Nebraska
Norfolk
Council Bluffs
Equitable of Iowa Declares Quarterly Dividends
Equitable of Iowa Companies announced quarterly dividends. A $3 dividend on serial preferred stock will be paid Oct. 1 to shareholders of record Sept. 18. Dividends of 32 cents per share on Class A and Class B common stock will be payable Sept. 10 to stockholders of record Aug. 25. Younkers is among the company’s subsidiaries.
MENTIONED IN THIS ARTICLE
DES Moines
UPI
Equitable
Iowa
Younkers Department Store
Sea Galley reports large earnings hike and sales jump
Sea Galley Stores Inc of Mountlake Terrace Washington reports a 144 percent rise in net income and 172 percent gain in net sales for the quarter ended June 30 with 619000 in net income on 13.6 million in sales. Six month results show net sales up 126 percent to 21.4 million and net income up 121 percent to 1.1 million with 36 cent per share on a 3 for 2 stock split effective in June.
MENTIONED IN THIS ARTICLE
Sea Galley Stores Inc
Mountlake Terrace
Wash
Sea Galley
Cedar Rapids
Family Fish House
Dollar climbs to new highs against franc in Paris and Milan
The dollar rose to a record 6.085 francs in Paris and hit a Milan mark of 1252.95 lire amid strong U.S. interest rates and Reagan policies. It slid against the Japanese yen, while gold held near 40 dollars an ounce and silver fell to 8.535 dollars. European rates showed mixed gains and a weaker pound, as traders eyed potential franc devaluation this year.
MENTIONED IN THIS ARTICLE
U.S
Reagan
Paris
Milan
Thierry Tuffier
Tokyo
New York
United States
Japan
London
Frankfurt
Zurich
Brussels
AGRI Industries Buys Des Moines Travel Center
AGRI Industries announced the purchase of The Travel Center, a Des Moines travel service founded in 1976 by Elvira Smith who will continue to manage it. The deal follows AGRI’s Thursday acquisition of a Houston equipment rental firm. terms were not disclosed. AGRI is a cooperative owned by 325 elevators in nine states.
MENTIONED IN THIS ARTICLE
Agri Industries
Des Moines
West Des Moines
UPI) Agri Industries
the Travel Center
Des Moines Travel Service
AGRI
Houston
Elvira Smith
Also Mentioned on This Page
Conoco
DuPont
Mobil
Joseph Seagram & Sons
Cities Service
Sony Corp
Matsushita Electric
Honda Motors
United Tech
Nologies
Quaker Oats
E.F. Hutton Group
Wall Street
Paine Webber
Dean Witter Reynolds
Donaldson, Lufkin
Jenrette
M. Lowenstein
Lowenstein
Allied Corp
American Stock Exchange
National Association of Securities Dealers
Amex
Gulf Oil of
Galaxy Oil
Houston Oil Trust
Roustabout
David Campbell
Tenneco Oil Co
Vermillion
Gulf of Mexico
Tenneco
Gulf
Audrey E. Muckler
Tommy Tucker Realty Realtors
Fish House
United Press International
Waterloo
Iowa City
Nisval
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