Bank regulator enters takeover battle over Life Investors bid
AGO Hold ing N V seeks Life Investors control in a clash that has spanned Iowa courts and state regulators. A federal restraining order blocks state action, while Life Investors weighs intervention. Shares tendering to AGO total over 2.2 million with a prorated plan starting Friday.
MENTIONED IN THIS ARTICLE
Battle of
Life Investors Inc
AGO Holding N.V
Netherlands
Iowa
Life Investors
Des Moines
AGO
Massachusetts Fidelity Trust Co
New York
Gold and silver prices tumble as dollar rises on holiday eve
Prices drop across major markets as the dollar strengthens ahead of the Veterans Day break. Zurich gold closes at 418.50, London 415, New York cash 414, Comex 412.50. silver falls to 8.675, Comex 8.695. Dollar gains pressured European currencies and Tokyo yen lifts on BOJ rate-cut hopes.
MENTIONED IN THIS ARTICLE
Zurich
London
New York
New York Commodity Exchange
U.S
Tokyo
Bank of Japan
Chevrolet S-10 pickups debut with two box lengths
Chevrolet introduces the S-10 pickup in showrooms with two box lengths and four or six cylinder engines. Maximum payload reaches 1,500 pounds and towing capacity 4,000 pounds. Pictured is the S-10 Sport with an 108 inch wheelbase and 6 foot 1 inch box. Cedar Rapids dealer is Rapids Chevrolet at 601 First Ave SE.
MENTIONED IN THIS ARTICLE
Chevrolet
Cedar Rapids
Rapids
First Ave. SE
Investors wary as rally fades amid market uncertainty
UPI reports a mixed Tuesday close with the Dow easing to 853.98 after a midday gain, the S and P 500 down to 122.70 and the Nasdaq at 199.90. Trading volume rose with institutional activity, while Hess and Marathon Oil eyed a potential takeover amid Mobil’s merger bid.
MENTIONED IN THIS ARTICLE
New York
UPI
Standard & Poor
Amerada Hess
Hess
Marathon Oil
Mobil
Morrell plant in Estherville reopens after wage cuts
Morrell and Co beef plant in Estherville reopened Tuesday after workers at United Food and Commercial Workers Local 79 approved concessions the company had demanded. Voters 400 to 226 accepted a $2 hourly pay cut, four weeks vacation instead of six, and higher health insurance contributions, with a $2 million renovation plan promised over two years and a 20 percent profit sharing offered by management.
MENTIONED IN THIS ARTICLE
Estherville
Morrell and Co
United Food and Commercial Workers Local 79
CNW Buys Milwaukee Tracks Section in Iowa
The Milwaukee Road will sell a 14 mile main line segment between Slater and Woodward Iowa to Chicago and North Western for 2067500 dollars, contingent on ICC approval within 90 days. If approved, court authorization will follow. sale expected complete in February. North Western began service Oct 15 with grain trains using the line after it had been out since April 30.
MENTIONED IN THIS ARTICLE
Chicago
Milwaukee Road
Iowa
Chicago and North Western Transportation Co
Richard Ogilvie
Chicago and North Western
Slater
Woodward
Interstate Commerce Commission
Ogilvie
ICC
The
North Western
Also Mentioned on This Page
Ette Financial
Massachusetts Fidelity
Life Investors Home Office
Life Investors Board of Directors
Ron Jensen
United Press International
Frankfurt
Paris
Milan
Chevrolet’s
Cleveland
Marathon
Citicorp
Northrop
Taiwan
Montana Power Co
Amax
International Paper
Board of Directors
National Association of Securities Dealers
Morrell
CNW
Milwaukee
Seifert’s
Securities Corporation of Iowa
Money Market Fund
Money Market Dept
2Nd Ave
Lafac
FDIC
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