Money supply drop sinks interest rates in markets
The Fed reported a $2 billion weekly drop in M1 for the week ended Aug 31 the fourth straight decline and bias toward growth in the broader measures. Yields on six month Treasuries fell to 9.10 from 9.35 while long term bonds rose. Inflation data showed wholesale prices up 0.4 percent in August the slowest gain in 15 years.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Fed
Lee Hoskins
Pittsburgh National Bank
Jeffrey Leeds
Chemical Bank
Treasury
Labor Department
Gibson
Federal Funds
Federal Reserve System
Midland Financial to acquire seven more Iowa branches
Midland Financial Savings and Loan of Des Moines announced plans to buy seven additional branches, expanding to three more offices in Eastern Iowa. The acquisitions include Capitol Savings and Loan branches in Anamosa Maquoketa and Dyersville and others in Eldora Pocahontas Webster City Jewell. The move raises total assets toward 630 million and branches to 25, pending regulatory approval, with completion targeted by Oct 1.
MENTIONED IN THIS ARTICLE
Iowa
Midland Financial Savings and Loan
Des Moines
Midland
Anamosa
Maquoketa
Dyersville
Capitol Savings and Loan
Mount Pleasant
Cedar Rapids
Monticello
Eldora
Pocahontas
First Federal
Fort Dodge
Webster City
Jewell
Storm Lake
Kent E. Klopfenstein
Klopfenstein
Savings and Loan Association
Market drifts as Fed money data lifts bond rally
The New York market in a quiet Friday session waits for the Fed money supply report. A surprising drop in M1 spurred an after hours bond rally while the Dow fell 6.40 to 1,239.74 as traders eyed a stronger start next week.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Wall Street
Fed
Utilities rate Iowa Power among least efficient firms
A report for the Iowa Commerce Commission faulted Iowa Power and Light Co. of Des Moines as the state's least efficient private utility. Enver Masud of ICC criticized the rating formula as flawed. The study ranked electric and gas utilities by efficiency, placing Iowa Power near the bottom among peers.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa Commerce Commission
Iowa Power and Light Co
Iowa Power
Enver Masud
ICC
Iowa
Interstate Power Co
Dubuque
Iowa-Illinois Gas and Electric Co
Davenport
Iowa Southern Utility Co
Centerville
Union Electric Co
Keokuk
Iowa Electric Light and Power Co
Cedar Rapids
Iowa Public Service Co
Sioux City
Interstate
Iowa Electric
Iowa Public Service
Peoples Natural Gas Co
Council Bluffs
North Central Public Service Co
Lowa Illinois
Lowa Southern
Great River Gas Co
Lowa Power
Nixon Warns Veto If Defense Budget Falls Below Plan
In a message to Congress President Richard Nixon warned he would veto any legislation cutting defense spending below his proposed budget. He stressed the need to maintain military strength and deter threats abroad while outlining priorities for funding.
MENTIONED IN THIS ARTICLE
Congress
Richard Nixon
AMC recalls 19 500 Renault 181 sedans for wiring fix
American Motors Corp recalls 19 500 1981 Renault 181 sedans and wagons to correct wiring in the engine compartment. Dealers will inspect and repair at no cost. no injuries reported. 1982 83 models not affected. Notices to owners began Friday.
MENTIONED IN THIS ARTICLE
Southfield
Mich
American Motors Corp
Ben Dunn
AMC
Renault
Dunn
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Mutual Fund
Smash All Records
Midland Financial
Jimmy Carter
Menachem Hegin
Anwar Sadat
Camp David
Gettysburg
Commerce Exchange
1St Avenue
New York Stock Exchange
Robert Stovall
Dean Witter Reynolds Inc
Merrill Lynch
Coleco
Western Union
Tymshare
Standard & Poor
S&p
Ontact
Craig McCormick
Skogman Realty
Ron Moore
Sheraton
Umfort
The
Sheraton Inn
33Rd Avenue
MorAmerica Financial Services, Inc
Bakor Realty Investors
Lus Mary de Attanedih
Baker Realty Investors
American Bidg
Fred P. Fisher
Business Telephone
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