Stock market slips to 15 month low on high rates
New York stocks closed sharply lower as the Dow Jones average tumbled 10.56 to 851.12, the NYSE index slid to a 1981 low, and Nasdaq and Amex indices also hit fresh lows amid persistent high interest rates and a surge in money supply. Brokers issued margin calls while volume rose on a Labor Day week.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
New York Stock Exchange
National Association of Securities Dealers
Gas price rise seen to hit by year end
Independent analyst Dan Lundberg predicts pump prices could climb to as high as 1.40 per gallon nationwide by year end to restore shrinking profit margins. Refiners cut some prices at terminals but raised dealer rates elsewhere as rebate programs failed to lift consumption and wholesale and retail prices fell since March.
MENTIONED IN THIS ARTICLE
New York
UPI
U.S
Dan Lundberg
Sun Co
Henderson
Oakland City
Ind
Louisville
Sun
Fairfield County
Conn
Tennessee
Lundberg
Texaco
Interstate merger creates largest federally chartered savings and loan
The Federal Home Loan Bank Board approved merging West Side Federal S&L of New York City and Washington S&L of Miami Beach into Citizens Savings and Loan in San Francisco. The deal gives Citizens 6.8 billion assets and 136 branches, backed by 75 million from Citizens parent National Steel Corp. and future support from the Federal Savings and Loan Insurance Corp. Also approved is Franklin Society S&L of New York City merging into First Federal S&L of Rochester.
MENTIONED IN THIS ARTICLE
Washington
UPI
Federal Home Loan Bank Board
Savings and Loan Association
West Side Federal Savings and Loan Association
New York City
Washington Savings and Loan Association
Miami Beach
Fla
Citizens Savings and Loan
San Francisco
West Side
Gire Citizens
Richard T. Pratt
Federal Agency
Citizens
California
National Steel Corp
Pittsburgh
Federal Savings and Loan Insurance Corp
Franklin Society Federal Savings and Loan Association of
First Federal Savings and Loan Association of
Rochester
N.Y
Ford raises 1982 auto prices 4.8 percent on average
Ford Motor Co increases base prices about 4.8 percent for 1982 models, lifting the median Ford car price to 9,600 dollars. Optional equipment up about 127 dollars and transport charges 39 dollars per car. GM and Chrysler previously outlined higher early model prices. Ford cites selective cuts and hold-the-line models to justify its smaller rise.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Ford Motor Co
Ford
General Motors Corp
American Motors Corp
Volkswagen of America
Clinton industrialist Ted Wilson Jr. dies at 66
George E. Ted Wilson Jr. 66 of Vero Beach Florida died Sunday in Melbourne Florida. He was president of Allied Structural Steel Co which operated a Clinton plant until its sale in the mid 1960s. A memorial service will be held Friday in Vero Beach with a second service on September 16 at First Presbyterian Church in Clinton.
MENTIONED IN THIS ARTICLE
Clinton
George E
Ted” Wilson Jr
Vero Beach
Fla
Melbourne
Wilson
Allied Structural Steel Co
First Presbyterian Church
Harvester Sees Higher Losses Amid Debt Talks
International Harvester projected greater losses for the current year as it pursued a $5 billion debt restructuring. For the nine months ending July 31 the firm posted a net loss of 353.8 million, with full-year losses possibly hitting 580 million. IH stock touched an all-time low amid ongoing financial troubles following the 1979 UAW strike.
MENTIONED IN THIS ARTICLE
Chicago
UPI
International Harvester
Harvester
Norm Buckingham
United Auto Workers
Also Mentioned on This Page
Dow
NYSE
Cenco
National Medical Enterprises
Superior Oil
IBM
Dillingham
Zapata Corp
Occidental Petroleum
Zapata
Schlumberger
Applicon Inc
Southdown Corp
AMEX
Delhi International Oil
Dome Petroleum
Houston Oil Trust
Pontiac
Cedar Rapids
Bruce McGrath
Pontiac Inc
Center Point Road
IT. Com
Lel
Tandy Corporation
Radio Shack
Securities Corporation of Iowa
Money Market Fund
Money Market Dept
2Nd Ave
Ater
McA
First National Bank OF Iowa
Marion
FDIC
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