Stocks slip below 1200 then bounce on Tuesday
The Dow fell briefly under 1200 before closing up 3.68 at 1208.01 as volume rose to 89.55 million on the NYSE. Morgan Stanley’s warning and a cautious mood weighed on defense and brokerage stocks while bonds supported a market lift.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Wall Street
Barton Biggs
Morgan Stanley & Co
Biggs
Lockheed
McDonnell Douglas
United Technologies
Treasury
Outlet Co
Liu becomes chairman of IE board
Iowa Electric Light and Power Co. president and chief operating officer Lee Liu was named chairman of the board and chief executive officer after the death of Duane Arnold. The board reduced directors to 10 and reported first quarter earnings of 47 cents per share, down from 1.01 last year, due to milder weather and higher maintenance from the Duane Arnold Energy Center outage.
MENTIONED IN THIS ARTICLE
Lee Liu
Iowa Electric Light and Power Co
Iowa Electric Board of Directors
Duane Arnold
Liu
Iowa State University
Iowa Electric
Duane Arnold Energy Center
Muscatine
Bank seeks examiner for Wilson Foods in bankruptcy case
First City Bank of Dallas seeks a disinterested examiner to audit Wilson Foods with $8 million in unsecured debentures. A hearing in Oklahoma City will decide the request as management changes remain limited since the Chapter 11 filing.
MENTIONED IN THIS ARTICLE
Gary Peterson
First City Bank of Dallas
Wilson Foods
First City Bank
Oklahoma City
Wilson
First City
United
Monsanto to Buy Remaining Fisher Stock
Monsanto Co will acquire the outstanding 33.5 percent of Fisher Controls International Inc, raising its stake to 100 percent from 66.5 percent. The deal, valued at $178 million, covers the ownership bought from The General Electric Co PLC of Great Britain pending definitive agreement and board approvals. Fisher Controls, a supplier of industrial process control systems, had 1982 sales of $588 million and employs over 9,000 people at nearly 50 centers in 13 countries.
MENTIONED IN THIS ARTICLE
ST. Louis
Monsanto Co
Fisher Controls International Inc
Monsanto
Fisher Controls
General Electric Co. PLC
Great Britain
Family earnings rise modestly in first quarter
The Labor Department reports a 2.3 percent gain in median weekly family earnings to 456 dollars in Q1 from the previous year. Despite the rise, earnings trail inflation which ran at about 3.5 percent, leaving real wages lower.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Lensing Promoted to President of Farmers State Bank Marion
Clair J. Lensing is named president of Farmers State Bank in Marion succeeding Morris F. Neighbor who becomes chairman of the board. Lensing, a 1966 veteran and former executive vice president, was a former senior Iowa bank examiner. The Neighbor family remains controlling, with Kin Neighbor and Douglas Neighbor as vice presidents and Kent Neighbor on the board. Betty L. Neighbor joins the board, and several others are re elected. New officers include Eula Wood teller operations, Allen D. Shedek assistant VP and personnel officer, and Johna McBurney book keeping officer and assistant cashier.
MENTIONED IN THIS ARTICLE
Clair J. Lensing
Farmers State Bank
Marion
Morris F. Neighbor
Lensing
Farmers State
Iowa Department of Banking
Neighbor
Gene R. Neighbor
Douglas Neighbor
Kent Neighbor
Betty L. Neighbor
Morris, Douglas
Gene
Kent Neigh
Bor
George H. Bowler
James A. Mollenhauer
C.H. Moyer
Robert H. Sipple
Robert W. Verhille
Eula Wood
Teller
Allen D. Shedek
Johna McBurney
Occidental reports quarterly loss due to preferred stock provisions
First quarter results show an earnings gap as per share loss of 1.02 dollars for the quarter while continuing operations bring 25.9 million and discontinued Cities Service operations lose 8.6 million. Debt repayment is ahead of schedule and Blair Radio subsidiary operates a Cedar Rapids sales office.
MENTIONED IN THIS ARTICLE
Occidental
Blair Radio
Cedar Rapids
Swisher couple named Iowa Small Business Person of the Year
Ed and Char Klouda of Swisher were honored by Gov. Branstad as Iowa Small Business Person of the Year. Their company Manufacturing Specialties Inc. started in 1971 with later expansions in 1978 and 1980, and 1981 saw the formation of Plastic Specialties to make plastic and glass fiber insulating components for concrete walls.
MENTIONED IN THIS ARTICLE
Des Moines
Char Klouda
Swisher
Iowa
Terry Branstad
Manufacturing Specialties Inc
Plastic Specialties
InterNorth Reports Mixed Quarter Results
InterNorth shows three operating units with gains while others fall. Net income dips to 102000 for the quarter from 108300, with earnings per share at 2.30 versus 2.44. Revenue figures listed at 1,360,000 and 1,450,000.
MENTIONED IN THIS ARTICLE
Op.Rev
Also Mentioned on This Page
Morgan
Rockefeller Center Inc
ASA Ltd
Campbell Red Lake
Sunshine Mining
Hecla Mining
Hecla
Amax Inc
Exchange
Standard & Poor
S&p
IE Board
Bank
Wilson Examiner
Food and Commercial Workers Union
Wilson Foods Management
Chicago
Oscar Mayer
Perry
U.S
Treasury Department
Angela M
Ray” Buchanan
Detroit
General Motors Corp
Fisher
Ginnie Mae
C.d.s
National Mortgage Association
Government
U.S. Govt
Ginnie Maes
SCI Financial Group
Second Avenue
Securities Corporation of Iowa
SIPC
Occidental Petroleum
John Blair
InterNorth
Chick-Fil-A
Chickfil-A, Inc
Westdale Mall
Huie H. Woods
Chick-Fil-A, Inc
Buffington
Atlanta
Georgia
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