Stock rally closes a strong Friday on easing Federal policy
UPI reports a broad stock surge on Friday led by gold miners and tech issues as the Fed’s credit easing lowered rates. The Dow rose 9.14 to 814.12, the broad market showed gains, and volume was the heaviest in about a month amid expectations of tax cuts.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
DJIA
Fed
Federal Funds
Chemical Bank
Continental Illinois
Southwest Bank of St. Louis
Standard & Poor
Standard & Poor's
Penn Square
IBM
Texas Instruments
General Instruments
American Airlines
Medtronic
ASA Ltd
Campbell Red Lake
Utilities plan natural gas refunds in Iowa cities
Iowa based gas customers in Cedar Rapids Iowa City Davenport and Ottumwa will receive refunds from the Natural Gas Pipeline Company of America following a Federal Energy Regulatory Commission settlement. The average customer will see about 16 dollars credited on July bills, with a total refund pool of 6.2 million dollars covering October 1981 to May of this year.
MENTIONED IN THIS ARTICLE
Iowa
Iowa-Illinois Gas and Electric Co
Iowa-Illinois
Cedar Rapids
Iowa City
Davenport
Ottumwa
Natural Gas Pipeline Company of America
Federal Energy Regulatory Commission
Interstate Power Co
Illinois
Iowa Electric Light and Power Co
Iowa State Commerce Commission
Iowa Electric
West Branch
Kalona
Amanas
Ladora
Marengo
North and
South English
Victor
Williamsburg
Commerce Commission
Commission
Child-care deduction rules hinge on earned income
A recent Your Money feature explains that child care costs are deductible only if you have earned income. If a family reports losses such as a farmer, neither spouse earning income nor investment income qualifies. The rule requires actual earned income for both spouses in a married couple.
MENTIONED IN THIS ARTICLE
David Prudden
Cedar Rapids
Rockwell-Collins
Prudden
AT&T seeks major rate increases for non-Bell carriers
AT&T asked the FCC to approve nearly doubling charges for non-Bell companies using local distribution facilities. The filing anticipates a yearly $130 million rise and a jump in average monthly bills from $28 to $55. AT&T notes long discounted tariffs have caused a revenue shortfall borne by Bell operating companies. Citicorp wins approval to create Citishare for data processing and home banking services through a new subsidiary.
MENTIONED IN THIS ARTICLE
Washington
UPI
American Telephone & Telegraph Co
Bell
Bell Telephone Companies
At&t
Federal Communications Commission
FCC
D.J. Culkin
Bell Operating Companies
Federal Reserve Board
Citicorp
New York City
Citishare
Chrysler joins GM in holding 83 prices down
Chrysler Corp joins General Motors Corp in freezing or limiting price hikes for 1983 models sold to fleet customers. Chrysler told dealers and fleets there will be no base price increases for smaller front wheel drive cars and no more than a 2 percent rise for larger rear wheel drive cars and pickups.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
General Motors Corp
Wall Street Journal
Chrysler
American Federal Cedar Falls Savings to Merge
American Federal Savings and Loan Association of Des Moines will acquire Cedar Falls Savings and Loan Association in a plan creating an $830 million asset, $31 million reserve entity. Boards to review, then the Bank Board approval within 60 days. merger hoped to finish this fall.
MENTIONED IN THIS ARTICLE
American Federal Savings and Loan Association of
Des Moines
Cedar Rapids
Cedar Falls Savings and Loan Association
Federal Home Loan Bank Board
Warren W. Harding
American Federal
Robert P. DeLay
Cedar Falls Savings
Ankeny
Atlantic
Carroll
Clinton
Davenport
Denison
Iowa City
Missouri Valley
Newton
Perry
Cedar Falls Association
DeLay
Money supply dips as Fed intervention eases rates
UPI reports M1 fell by 3.7 billion in the latest week, signaling the Federal Reserve's aggressive intervention aimed at easing rates. M1 averaged 445.9 billion for the week ending June 30, down from 449.6 billion, while M2 rose to 1.907 trillion in June from 1.898 trillion in May.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
William V. Sullivan Jr
Bank of New York
Fed
Government may suspend part of tire performance ratings
The National Highway Traffic Safety Administration plans to suspend the treadwear grading portion of tire performance standards due to variability in test results and concerns over accuracy. A hearing is set for August 12 to consider the change, while traction and temperature resistance ratings remain unchanged.
MENTIONED IN THIS ARTICLE
Washington
UPI
National Highway Traffic Safety Administration
Peck
All-savers rate to rise to 9.99 percent Sunday
The Treasury’s one year All-savers certificates will pay 9.99 percent annual return starting Sunday up from 9.85 percent. Individuals can earn up to 1000 dollars tax free and couples up to 2000 dollars. The rate is tied to the Treasury’s one year bill yield. The latest auction sold 6 billion dollars of these bills at a 12.318 percent average discount.
MENTIONED IN THIS ARTICLE
Washington
UPI
Treasury
Also Mentioned on This Page
Coca-Cola
Washington Post
Dome Petroleum
Amex
Wang Laboratories
National Association of Securities Dealers
New York Daily News
Alco-Gravure, Inc
Glen Burnie, Md
Kirkwood
U.S. House of Representatives
House
Righter Co
Judd
United Feature Syndicate
Ily
Hai
United Feature Syndicate, Inc
Seichow and Righter Co
Scrabble
Norton Co
Worcester
Mass
Norton
Yle
Mgr
James M. Rybacki
WATS
1St Ave
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