Dow sinks to two year low as stocks plunge on rate fears
UPI reports a broad market sell-off with the Dow Jones index dropping to 791.48, a two year low, amid bankruptcy fears and high interest rates. Oil and mining shares led declines while major averages on the NYSE and NASDAQ fell and trading volume eased.
MENTIONED IN THIS ARTICLE
Dow
New York
UPI
Dow Jones
Standard & Poor
Midwest Stock Exchange
Comark
Newport Beach
Calif
Partic
Spectrum Club formed to serve Rockwell Cedar Rapids workers
Rockwell International announces the Spectrum Club a new non profit for Rockwell employees retirees and spouses in Cedar Rapids and nearby areas including Collins Employees Credit Union members and furloughed workers. The club offers discount purchasing travel entertainment and recreation with 150 local businesses on board and plans wellness and hobby groups.
MENTIONED IN THIS ARTICLE
Rockwell International
Cedar Rapids
Spectrum Club
Rockwell-Collins
Rockwell
Collins Employees Credit Union
United States
The
Gazette
Iowa
Pittsburgh
Spectrum
Gary Mainer
Iowa City
Anamosa
Belle Plaine
Vinton
Mount Vernon
Mainer
Sharon Carpenter
Carol Rominger
Russ Hansen
Bill Boswell
Shirley Bretthauer
JoAnn Dunlop
Harold McDaniel
Bob Raeside
Personnel Department
Company Pharmacy
Merger planned for First Federal and Pioneer Federal
Officials of two north central savings and loan associations announce a merger, subject to Federal Home Loan Bank Board approval. Combined assets total 182 million dollars.
MENTIONED IN THIS ARTICLE
Mason City
UPI
Loan Savings and Loan Associations
First Federal Savings and Loan
Clear Lake
Pioneer Federal Savings and Loan
Federal Home Loan Bank Board
U S balance of payments improves in first quarter of 1982
The Commerce Department reports the U S current account surplus rose to 1 2 billion in Q1 1982 from a prior deficit, driven by a smaller merchandise trade deficit to 6 1 billion while services receipts and income from foreign direct investment fell. Exports declined 2 1 billion as imports dropped sharply due to weak domestic demand and lower oil prices.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
U.S
United States
Gulf Oil to Buy Cities Service for 63 a Share
Gulf Oil Corp. announces a definitive agreement to acquire Cities Service Co. for 63 dollars per share, valuing the deal at 4.9 billion dollars, topping Mesa Petroleum’s 45 dollar bid for 15 percent stake. If completed, it would rank among the nation’s largest takeovers.
MENTIONED IN THIS ARTICLE
Gulf Oil
Gulf
Cities Service
Texaco
Ohio Standard
Mobil
Indiana Standard
Phillips Petroleum
Atlantic Richfield
Kerr-McGee
Shell
Sun Co
New York
UPI
Gulf Oil Corp
Cities Service Co
Mesa Petroleum Co
U.S
DuPont
Conoco
Marathon
U.S. Steel
Milwaukee Road stockholders oppose Grand Trunk sale
A group holding 95 percent of Milwaukee Road stock opposes the planned sale to Grand Trunk Corp. They call the deal indefensible and say no cash is offered. They urge renegotiation or termination to avoid costly litigation. The tentative plan would have Grand Trunk assume 250 million dollars in debts.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Milwaukee Road
Grand Trunk Corp
Chicago Milwaukee Corp
Richard B. Ogilvie
Leon Fiorentino
Fiorentino
Corporation
Emory Williams
Ogilvie
Grand Trunk
Cedar Rapids firms win Governor's Export Award
Two Cedar Rapids companies Cherry Burrell Corp and Universal Engineering Corp will be honored with the Governor's Export Award at the Export Expansion Conference in Cedar Rapids. George Remus and Frank Torrens will accept for Cherry Burrell, Don Conway for Universal. The event runs 10 a.m. Tuesday with 8:15 a.m. registration and a 4 p.m. reception.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Five Seasons Center
Cherry-Burrell Corp
Universal Engineering Corp
Iowa
Robert Ray
George Remus
Frank Torrens
Cherry-Burrell
Amca International
Don Conway
Universal
Pettibone Corp
Chicago
Agri Industries
AMF Lawn and Garden Division
Corn States International
Des Moines
M.A. Ford Manufacturing Co
Davenport
Schneider Metal Manufacturing Co
Vermeer Manufacturing Co
Pella
Gold and silver hit three year lows as dollar stays strong
Gold and silver plunged to multi year lows as U S rates stay high and the dollar strengthens. In Zurich gold dropped to 309 50 an ounce and London closing prices slid to 305 50 amid a bear market outlook. Silver fell to 5 13 an ounce with Comex settlement near 5 137. The trend points to further declines if gold breaks 300, while the dollar gains internationally.
MENTIONED IN THIS ARTICLE
New York
UPI
U.S
Zurich
London
New York Commodity Exchange
Comex
Robert Miller
Manfla Tordella Brookes
Federal Reserve
Bundesbank
Tokyo
Bank of Japan
Paris
Milan
Also Mentioned on This Page
ASA Ltd
Campbell Red Lake
Homestake
IBM
Sony Corp
American Telephone & Telegraph
Eli Lilly
Ralph Nader
Chieftain Development
Alberta Energy Co
Dome Petroleum
Husky Oil
National Association of Securities Dealers
United Airlines
Seattle
Rockwell Worker ‘Club
Thrifts
Cleveland
Cleveland Press
Joseph E. Cole
Cole
Press
E.W. Scripps Co
Newpaper
Consumer Product Safety Commission
Commission
Gulf Trumps Mesa
C.R
Gazette Classified
Capote
P.O. Box
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