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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 14, 1990
Page
20
The SBA extended the filing deadline to Aug 23 for storm and flood repair loans in Des Moines Keokuk and Washington counties Iowa. James N. Thomson urged applicants to call 1 800 527 7735 for details.
The Dow rose 30.20 to 2 746.78 as a late rally offset an opening drop caused by a power outage that disrupted the American Stock Exchange and brokerages. NYSE listings showed 726 up, 766 down, 479 unchanged with 122.82 million shares traded. Eastman Kodak led gains in a 39-stock Eastern Iowa group with 22% rise to 43.00.
Kwik-Way Manufacturing Co in Marion cuts 27 production jobs representing 12 percent of its Marion workforce as orders decline since June. Executive VP David Parks cites soft domestic sales and seasonal worldwide slowdown, with hoped recovery in the fall and no further layoffs planned.
A 1:15 p.m. blackout from a substation fire disrupted southern Manhattan including Wall Street, halting trading at the American Stock Exchange and NYMEX while brokers shifted to reduced operations. The New York Stock Exchange remained open but volume slowed, and Dow Jones briefly went offline before switching to emergency power.
Washington AP analysis shows rising prices and higher mortgage rates squeeze first time buyers in Q2 despite higher incomes. National Association of Realtors warns long Middle East conflict could push rates further, hurting entry level and overall housing market.
Midwest Gas, based in Sioux City, seeks a 14.6 million dollar rate rise, boosting revenues 6.7 percent and adding about 3.82 dollars monthly for the average residential customer. The filing goes to the Iowa Utilities Board with a future hearing date set.
Sears, Roebuck & Co. said there is no truth to Crain's Chicago Business report that chairman Edward Brennan was given six months to revive the company or lose his job. Director Albert V. Casey said the Wednesday meeting did not attack Brennan.
A terse market note notes Monday averages for EO Sach Gt Admissions and stock changes. Foxboro Co. stock removed, America Inc. FFA, crest tnds SLV mentioned. NASDAQ NMS admits Medical Management of America MOAI and Spurtmark new SMAKV common and preferred vy.
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