Prices fall as Thanksgiving gas costs dip nationwide
Oil expert Dan Lundberg notes eight consecutive weeks of price erosion with before tax gasoline dropping below one dollar per gallon in some areas. He cites lower demand shrinking annual consumption from 115.4 to about 100.4 billion gallons, while wholesale and self service prices show declines across regions including California where gas runs around one dollar.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
Dan Lundberg
Lundberg
California
Northern Natural Gas seeks interim rate cut in Iowa proposal
Northern Natural Gas Co. asks the FERC to approve a 36 percent reduction of its October 8.5 percent rate increase plan, cutting the interim rise by about 55 million dollars. Dan Dienstbier, president, says the move eases energy costs for consumers this winter, especially low and fixed income groups, while the agreement covers short term relief and leaves core questions unresolved. The firm serves most of northeast Iowa and may recover more revenue later if interim rates are deemed too low.
MENTIONED IN THIS ARTICLE
OMAHA
Northern Natural Gas Co
Northern
Dan Dienstbier
Northern Natural Gas
Iowa
Treasury bill yields retreat on Monday auctions
Short term Treasury yields fell about half a percentage point as auctions priced the market lower. Three month bills sold at 7.944 percent, six month bills at 8.109 percent, both lower than the prior week and near the lowest since October and November. Investors see actual returns of 8.22 percent and 8.57 percent, with higher money market certificate rates opened for private accounts.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Savings and Loan Associations
Fed
Leeds
Donald Regan
Regan
Savers Scorecard Rates Edge Up on Small-Saver Certificates
Savings institutions offer two year small saver certificates at up to 9.9 percent while banks quote up to 9.65 percent. One year all savers certificates pay 6.66 percent through November 27 with tax exemption limits for individuals at 1000 and couples at 2000 dollars. The rate changes next Sunday.
MENTIONED IN THIS ARTICLE
S&ls
Coe
ZIP code based freight rates announced for Cedar Rapids routes
The Eastern Central Motor Carriers Association will switch to ZIP code based freight charges effective January 3. Rates will be computed from the first three digits of ZIP codes affecting shipments between Cedar Rapids, New England, and Middle Atlantic states. Overall rates rise about 0.03 percent. nearby towns sharing 524 ZIP codes may see identical charges.
MENTIONED IN THIS ARTICLE
Akron
Ohio
Eastern Central Motor Carriers Association
Cedar Rapids
New England
Middle Atlantic
Dick Petska
Transportation Bureau of
Cedar Rapids-Marion Area
Petska
Major banks cut prime rate to 11.5 percent nationwide
Ten largest banks lowered their prime commercial lending rate from 12 to 11.5 percent on Monday, the lowest since 1980, after the Federal Reserve cut its discount rate to 9 percent signaling looser credit.
MENTIONED IN THIS ARTICLE
New York
Bank of America
San Francisco
Bankers Trust Co
Federal Reserve Board
Fed
Chemical Bank of New York
Savings and Loan Associations
Dow tumbles to 1,000 as market ignores rate cut
Wall Street pushed the Dow Jones industrial average to 1,000, a three week low, after a rate reduction failed to lift sentiment. The Dow dropped 21.25 to 1,000 even, with breadth weak and volume strong on both the NYSE and NASDAQ.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Lucien O. Hooper
Thompson
Energy Exchange
American Telephone & Telegraph Co
Raytheon
Pound falls as Thatcher report sparks market shakeout
The pound tumbled against the dollar after a Sunday Times report said Thatcher's government could drop sterling up to seven percent. Dealers noted heavy selling, with the pound closing at $1.5945 and Tokyo dollar/yen slipping to 256.25. Gold and silver also declined, New York Comex prices easing.
MENTIONED IN THIS ARTICLE
New York
UPI
U.S
Federal Reserve
Sunday Times
Margaret Thatcher
London
Bank of England
Fed
Tokyo
Lumber output in Portland area below normal
Portland based Western Wood Products Association reports lumber production at 77 percent of normal for the week ended November 13. Year to date figures show production at 72 percent, shipments at 72 percent, and orders at 74 percent of normal.
MENTIONED IN THIS ARTICLE
Portland, Ore
UPI
Western Wood Products Association
Also Mentioned on This Page
The
Federal Energy Regulatory Commission
Dienstbier
Northern Natural
FERC
Banks
Jeffrey Leeds
Chemical
Dome Petroleum
Champion Home Builders
Gulf Oil of Canada
National Association of Securities Dealers
Nissan
Center Point Road
New York Trading
Zurich
New York Commodity Exchange
Comex
Manchester
Merrill Lynch
Kirkwood Community College Media Services
Perce Fenner & Smith
Radio Shack
Tandy Corpora
Scripsit
First Ave
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