House Committee Backs Repeal of Interest Withholding
The House Ways and Means Committee approved a bill repealing 10 percent withholding on interest and dividends after heavy lobbying. The move, likely to pass the House next Tuesday, would shift the fight to the Senate where repeal faces veto risks and possible compromise plans to impose penalties and maintain withholding for many.
MENTIONED IN THIS ARTICLE
Washington
House Ways and Means Committee
House
Senate
Congress
Reagan
Bob Kasten
Internal Revenue Service
Dow falls on stock rally's nine month anniversary
The Dow Jones average slid 5.32 to 1214.40 on Thursday signaling a second straight day of declines in the slowest market activity in a month. Volume dipped to 84.06 million shares as gains from the prior session faded and traders booked profits amid signs of economic strength.
MENTIONED IN THIS ARTICLE
Dow
New York
Leslie Pollack
Shearson Management Inc
Federal Reserve
U.S. Steel
Gulf Oil
Exxon
Mobil
Unocal
Schlumberger
NYSE
American Stock Exchange
Your Money No tax on damages and IRA questions
Tax on damages for personal injuries is none. Damages from injuries are tax free. You may open multiple IRAs as long as yearly contributions total not more than the allowed limit, though institutions may impose minimum deposits.
MENTIONED IN THIS ARTICLE
Savings and Loan Association
Los Angeles Times
Jobless Claims Rise Slightly in Latest Weekly Figures
Washington officials report 473000 Americans filed new unemployment claims in the week ended April 30, up 4000 from the prior week. Total receiving benefits across programs fell to 5829300 for the week ended April 23, down 900. The claims remain well below the September 1982 peak of 703000.
MENTIONED IN THIS ARTICLE
Washington
The
Labor Department
March inventory drop largest on record in U.S. history
U.S. inventories fell 1.1 percent in March as sales rose 1.8 percent, the sharpest decline since Commerce Department records began. The stockpile for manufacturers wholesalers and retailers hit a two year low of 502.9 billion dollars, with inventories to sales at 1.45.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
Robert Ortner
Department
Ortner
North Western defies Rock Island track buy plan
North Western Railway argues its bid to acquire Rock Island track in Iowa and three other states will not curb Midwest competition. In ICC filings the company calls worries baseless and cites other railways trucks and barges as competing options.
MENTIONED IN THIS ARTICLE
Des Moines
North Western Railway
Rock Island
Iowa
Interstate Commerce Commission
North Western
Soo Line Railroad
Minneapolis
Kansas City, Mo
U.S. Department of Justice
ICC
Soo Line
Iowa Department of Transportation
The
Sooor
Edward Harney
Harney
Kansas City
Donald Bergquist
Iowa State University
Massey Ferguson shareholders vote against stock conversion
Massey Ferguson Ltd. said the series A and B preferred stockholders rejected a plan to convert to common shares which would have saved about 9 million Canadian dollars per year in dividends. The series B vote was not taken since A approval was required.
MENTIONED IN THIS ARTICLE
Toronto
Massey-Ferguson Ltd
Massey
Peter Collins
New York Stock Exchange
Chrysler withdraws bid to cancel government warrants
Chrysler Corp says it is grateful for federal aid that saved it from bankruptcy and has withdrawn its request to cancel the government’s right to exercise 14.4 million warrants. With Chrysler stock at 25.50, exercising warrants could net about 180 million dollars for the government, drawing criticism from officials.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler Corp
U.S
Chrysler
Federal Loan Guarantee Board
U.S. Treasury
G. William Miller
Also Mentioned on This Page
James Shannon
D-Mass
Congress of the United States
Tom Downey
D-N.y
Marty Russo
D-Ill
Robert Matsui
D-Calif
Ways and Means
Bankers
IRS
I.R.S
Tax Court
Eastman Kodak
Kodak
Treasury
Standard & Poor
S&p
Justice Department
Burlington Northern Railroad
Milwaukee Road
Minneapolis-Kansas City
Cedar Rapids
Marion
St. Joe’s
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