Stocks slump to multiweek low amid Gulf Cities merger fallout
UPI reports stock averages hit a 27 month low as the market sank for a seventh straight session amid budget deficits weak economy and high rates. Traders noted Gulf Oil Cities Service merger collapse and a federal judge blocking the AT&T DOJ settlement.
MENTIONED IN THIS ARTICLE
New York
UPI
Gulf Oil-Cities Service
Justice Department
American Telephone & Telegraph Co
Dow Jones
DJIA
New York Stock Exchange
Standard & Poor
Cities Service
Gulf Oil
Allied Corp
Gulf
Kmart
General Foods
American Telephone & Telegraph
U.S
Harold Greene
At&t
Modest July Rise in Retail Sales Amid Tax Cut Hype
UPI reports Commerce Department figures showing July retail sales up 1 percent aided by a 10 percent withholding tax cut beginning that month. June was revised down, durable goods rose 1.6 percent, autos led gains, furniture fell, and analysts trimmed recovery forecasts awaiting tax-cut effects.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
Dollar Near Six Year High Amid U.S. Deficit Outlook
The dollar rose across major currencies and hit near a six year high against the British pound as markets priced in large upcoming U.S. budget deficits. Wells Fargo economist Joseph Wahed said the move reflects reality of high deficits and rising rates while Europe cuts rates to spur growth.
MENTIONED IN THIS ARTICLE
New York
UPI
U.S
Joseph Wahed
San Francisco
Wells Fargo Bank
Wahed
London
Scribble Boggl Four Rack Puzzle
A word puzzle from 1982 United Feature Syndicate presents seven letter word targets per row. Each row provides a scoring guide and blanks that carry no points. form 2 to 7 letter words within a 20 minute limit.
MENTIONED IN THIS ARTICLE
Judd
Revco Halts Oraflex Sales After Lilly Suspension
In Twinsburg Revco stores stop filling Oraflex prescriptions following Eli Lilly Co. decision. Customers may get refunds of unused tablets by returning them to Revco. In Springfield Monsanto joins with Boston University and others to fund high tech firms with about 16 million dollars in a venture capital pool managed by Advent Management Co.
MENTIONED IN THIS ARTICLE
Twinsburg
Ohio
Revco D.S
Eli Lilly Co
Revco Drug
Revco
Springfield
Mass
Equitable of Iowa Posts Half Year Decline Amid Younkers Loss
Equitable of Iowa Companies reports lower half year revenue and net income with Younkers posting a first half loss. Total revenues fall 1 percent to 204.5 million. net income down 27 percent to 5.5 million. Younkers sales 68.4 million, loss 1.19 million in H1. President Austin cites squeezed margins and high interest costs. Regular quarterly dividend of 32 cents declared payable Sept. 9.
MENTIONED IN THIS ARTICLE
Des Moines
Equitable of
Iowa
Des Moines Holding Company
Younkers Retail
Equitable
Younkers
Kenneth Austin
Mason City Finalist for New U.S. Printing Plant
Mason City Iowa is named one of 10 finalist cities for a second satellite U.S. government printing office. Treasury officials from Washington reviewed 40 sites and will choose early next spring or summer. The plant would print about 15 percent of currency and 3 percent of stamps to cut costs.
MENTIONED IN THIS ARTICLE
Washington
UPI
Mason City
Iowa
U.S. Government Printing Office
Roger Jepsen
Jepsen
U.S. Treasury
Angela Buchanan
Treasury Department
Joint Economic Committee
Department
Mississippi
U.S
Sterling Drug seeks FDA approval for Tornalate aerosol
Sterling Drug Inc. said it filed an FDA application for Tornalate, a bitosterol aerosol bronchodilator to prevent and treat bronchial asthma and other airway constriction disorders.
MENTIONED IN THIS ARTICLE
New York
API
Sterling Drug Inc
U.S. Food & Drug Administration
Condo energy credit clarified for co op and condo owners
An IRS ruling clarifies how condo and cooperative owners claim the 15 percent energy credit on up to 2000 dollars for energy saving home improvements. Expenditures from general funds are shared, with proportional credits for new owners, and Form 5695 must be filed. Credit limits apply per principal residence, not per taxpayer.
MENTIONED IN THIS ARTICLE
Prentice-Hall
Bank offers mortgage payoff incentives to customers
Buffalo Savings Bank offers incentives to about 60,000 mortgage customers with low interest loans. Options include up to 33 percent discounts for immediate payoff, partial payoff, rate reductions with higher payments, or refinancing at 14 percent. The plan, run since last month through September, aims to reduce low interest portfolios and reinvest funds at higher rates.
MENTIONED IN THIS ARTICLE
Buffalo, N.Y
UPI
Buffalo Savings Bank
Union Dime and
New York Bank For Savings of
New York City
Genesee Savings
Rochester
First Savings Bank
Syracuse
Sharon Edelman
Ers
Edelman
Mortgage Planning Service of
Philadelphia
Ertl recalls 47 workers after orders rebound
Ertl Corp in Dyersville announced it will recall 45 laid off production workers effective next Monday. The move comes as orders for the company's products have recently increased, following a prior layoff of 150 workers in mid July with hope of a short duration.
MENTIONED IN THIS ARTICLE
Dyersville
Ertl Corp
Atari gets $3 million order from Defense Dependent Schools
Sunnyvale California based Atari Home Computer reports a $3 million order for Atari Home Computer systems and peripherals from the Department of Defense Dependent Schools.
MENTIONED IN THIS ARTICLE
Sunnyvale
Calif
UPI
Atari Home Computer
Atari
Department of Defense
Also Mentioned on This Page
Metromedia
Heublein
R.J. Reynolds
Reynolds
Dome Petroleum
Gulf Oil of
Canada
Wang Laboratories
National Association of Securities Dealers
Tokyo
Frankfurt
Paris
Zurich
Milan
New York Commodity Exchange
Comex
Seichow and Righter Co
United Feature Syndicate, Inc
Evi
Irs
Judd Scrabbl
Registe
Sisco Bearings
Cleveland
General Electric
Ertl
Johnson
Gene Divoky
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