Money supply dips as new bank accounts grow
The Fed reports M1 fell by 800 million while new bank money market and Super NOW accounts reach an estimated 204.5 billion. Money market funds lag behind as banks attract deposits, with M1 averaging 483.5 billion for the week ending Jan 19 amid mixed rates and policy signals.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
Treasury
Fed
Banks
Savings and Loans
William V. Sullivan
Bank of New York
James L. Kochan
Merrill Lynch
Kochan
Top money manager bullish on stocks
Martin Sass, a leading fund manager, predicts a continued stock rally with prices rising toward new highs driven by moderate growth and rising corporate earnings. He notes pension funds under M.D. Sass Investors Services show strong past performance and says bonds will remain conservative while stocks offer hidden value.
MENTIONED IN THIS ARTICLE
New York
Martin Sass
Sass
U.S
Merrill Lynch
M.D. Sass Investors Services
Wall Street
Treasury
Warner Communications
Atari
Warner
Gasoline prices fall after decontrol two years on
New York reports from UPI and DOE show gasoline prices down about 7.5 cents per gallon since Reagan removed price controls on domestic crude oil and gasoline two years earlier. Heating oil remains higher, with DOE data showing limited relief by October 1982.
MENTIONED IN THIS ARTICLE
New York
UPI
U.S
Reagan
Lundberg
U.S. Department of Energy
OPEC
Dan Lunberg
New Letter
DOE
British pound hits another record low in London
The British pound closed at 1.5360 dollars in London, a new record low, with a slight rise to 1.5390 in New York as dealers unwind positions before the weekend. Gold held steady around 493 to 494 dollars, while silver climbed to 13.60 dollars an ounce amid mixed currency moves and quiet trading.
MENTIONED IN THIS ARTICLE
New York
UPI
London
Frankfurt
Zurich
Republic Bank
New York Commodity Exchange
Comex
Dow edges up as fears over bank sector loom
UPI reports a volatile session with a small Dow gain of 1.10 to 1064.75 amid fears of a bank crisis from a potential utility bond default. GE led with a 4.4 percent rise as markets priced in recovery hopes and defense issues.
MENTIONED IN THIS ARTICLE
NEW York
UPI
General Electric
Standard & Poor
Washington
Martin Marietta names Pownall chairman as Rauth retires
Thomas G. Pownall elected chairman of Martin Marietta Corp succeeding J Donald Rauth who retires Monday. Pownall has led as president since 1977 and CEO since last year. Anheuser Busch distributors meet in Cedar Rapids to set 1983 goals and award 18 Outstanding Achievement honors.
MENTIONED IN THIS ARTICLE
Bethesda, Md
Thomas G. Pownall
Martin Marietta Corp
J. Donald Rauth
Pownall
Martin Marietta
Cedar Rapids
Anheuser Busch Distributors
Iowa
Paramount Theater
Caterpillar, UAW to Resume Talks Amid Strike
Caterpillar Tractor Co and the United Auto Workers will reconvene negotiations on February 8 in St. Louis after a 120 day strike. A company spokesman announced the Federal Mediation and Conciliation Service arranged the talks. In Des Moines, Delevan Corp announces indefinite layoffs for an undisclosed number of its 400 workers as buyers delay fuel injection nozzle shipments.
MENTIONED IN THIS ARTICLE
Peoria, Ill
Caterpillar Tractor Co
United Auto Workers Union
Federal Mediation and Conciliation Service
St. Louis
DES Moines
UPI
Delevan Corp
Delevan
Jim Baker
GM Recalls 15000 Cars for Rear Brake Hose Fix
General Motors recalls 15000 1982 mid size and compact front wheel drive cars including Chevrolet Celebrity and Citation Pontiac 6000 Phoenix Buick Century and Skylark to correct rear brake hose end fittings that may not meet federal strength standards. About 125 cars could be affected with potential hose separation risking partial brake loss. dealers will inspect and replace hoses at no charge.
MENTIONED IN THIS ARTICLE
Detroit
UPI
General Motors Corp
Chevrolet Celebrity
Citation
Pontiac
CNW recalls workers in Oelwein locomotive shop
The Chicago & North Western Railroad gradually recalls about three quarters of 84 workers laid off last year in Oelwein. Shop superintendent Maurice Campbell cites more work scheduled in the locomotive maintenance department. Recalls began Jan 3 with 40 workers, 17 more on Jan 17, and six to report Feb 1.
Hawkeye Bancorp Posts Year Net Income and Asset Growth
Hawkeye Bancorp reports 1982 net income of 13 405 thousand dollars and per share 2 10 after a 5 percent stock dividend. Fourth quarter net income 3 577 thousand dollars and 0 53 per share. Assets rise 23 percent to 1 7 billion. President Paul Dunlap says banks held margins amid tough economy.
MENTIONED IN THIS ARTICLE
General Motors
McDonnell Douglas
Bandag
Paul Dunlap
John W. Morrison
Sheller-Globe First Quarter Report Signals Improvement
Chairman Chester Devenow announced at the annual stockholder meeting that first quarter results were better than December estimates, with actual loss narrowed by consolidation of Olsonite Corp. acquisition costs. The report cites 1962 figures showing net income of $1,200 versus $5,200 prior, and a per share decline to 38 cents.
MENTIONED IN THIS ARTICLE
Chester Devenow
Olsonite Corp
Bandag Earnings Snapshot Indicates Mixed Results
Bandag reports earnings from continuing operations with Op.Rev. figures around 286000 to 292900 and Net income near 34900 to 34500, per share 3.07 to 2.86 for the period ending September and December 1982. Revenue and income fluctuate with a small year over year decline.
Also Mentioned on This Page
Top Money
Chet Currier
AN K OF
Englan
New York Federal Reserve Board
Paris
Milan
Tokyo
Hope
Dow
Bluechip General Electric
Utah International
Australia
Broken Hill Proprietary Co
Mesa Offshore Trust
G.D. Searle
Warner-Lambert
American Telephone & Tele
Imperial Chemical
Wang Laboratories
Dome Petroleum
National Association of Securities Dealers
Busch Dealers
Preferred Risk Mutual Insurance Co
Robert Ray
Chad Hensley
Ray
Life Investors Inc
Preferred Risk
Don Paulsen
Fisher
Marshalltown
Fisher Controls
Mike McCoy
Oxford Bank Meeting
Oxford
First Trust & Savings Bank of Oxford
Milwaukee
A. Pabst
Pabst Brewing Co
Pabst
Pabst Brewing Family
CNW
Hawkeye Bancorp
Ted
Sheller-Globe
Northwest Bancorp
Marion
Dia 911
Company
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