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Daily Globe (Newspaper) - March 8, 1980, Ironwood, Michigan
Of the Stock Market on the latest list of economic problems Ironwood Dally Globe saturday mar. Rage 3 than t a month of the Learng Market indexes stood at All time highs amid talk that stocks were being rediscovered As a hedge against inflation. A continuing rout in the. Bond Market none of that seemed to matter. Money was still moving into stocks it was said because investors had p t0 Protection from since _ mid february however that carefully constructed line of reasoning has begun to fall apart. To Jones average of 30 industrials has fallen More than 80 Points or close to 9 percent in the last 3v2 weeks wiping out All the Gams of its rally in january and Early february. The past week s drop of 42.58 Points to 820 56 was the largest for the average since it took a 58.62-Point plunge last oct. 8-12. Readings for the week showed the new York Stock Exchange composite Index Down ,3.99 at 60.96, and the american Stock Exchange Market value Index off 25 98 at 277.50. Big Board volume averaged 46.56 million snares a Day against 40.94 million the week before. For More than a year the Standard argument on Wall Street has been that an economic slowdown might be Good news for the Market a temporarily painful but necessary purgative for an Economy beset by inflation. I but As that Long postponed recession appears to be drawing nearer Many i in the financial Community no longer seem so eager to Welcome its arrival. Prime rate is now a once unthinkable percent 18 percent at one Large Chicago Bank Harris Trust. Even at those lofty Levels businesses Are reported to be scrambling to borrow. But the demand appears to Stem largely from a Rush to get Loans lined up before any further Rise in rates or a possible imposition of credit controls by president Carter. This borrowing surge inevitably has to come to some sort of crashing Charles m. Trust s president said on Friday. Mortgage rates ranging from 14 to 17 percent meanwhile Are threatening to Deal the housing Industry and the real estate Market a severe setback. The signal for the beginning of every important recession in history has been a slump in the housing Industry leading to a general economic said Julian m. Snyder publisher of the investment advisory letter International if there is any Bright Side to All this for investors a Small number of analysts suggest that it might be an Early end to the Long up Ward trek of interest rates. The analysis week of March 37 860 840 821 Man tue. Wed thu. Fri inflation difficult to Corral says banker new York inflation is like a West German banking official was quoted As saying recently once it s can hardly get it Back in again. So the Best thing is not to squeeze too hard on the while Europe is experiencing some inflation problems the evidence is abundant in the United states that someone has squeezed the tube too much. The organization of Petroleum exporting countries is a popular target to blame for the inflation squeeze. A. Government analysis of the 13.3 percent inflation rate last year indicates that dial 482-0781 make House Calls gasoline and Home heating Oil Price increases accounted for 3.4 percentage Points of that. Rising interest rates another frequently cited culprit which shows up in consumer prices largely through higher mortgage rates added another 1.4 percent of last years 13 percent inflation. But that left consumer prices on All other goods rising at a rate of 8.5 percent or close to the inflation rate on All goods in 1978. So far this year things seem to be getting worse. The consumer Price report for january showed inflation running at an annual rate of More than 18 percent. Producer and wholesale Price reports for january and february showed those prices jumping at close to a 20 per cent rate. There Are still substantial Price increases working their Way through the Economy to the said Lawrence Chimerine chairman of Chase in -5 suburban Philadelphia he predicts Ift the first half of the year will average-15. Percent up from a 13 percent annual rate at the to made bratwurst in. 1 Small lean spare ribs in. 1 19 2% milk Gal. 1 47 mainstay dog food banquet Frozen Chicken i Kraft grape Jelly Jam 2-lb. Jar 89 danish Rolls sunday Only i valuable Coupon Pillsbury Lemon or chocolate bundt cake mix 79 with Coupon limit 1 Coupon per customer per week. Good thru monday March super Market Erspamer super Markett prices effective thru 3-10-80 end of last year. White House economic who in january forecaster 10.4 percent Infra Uon for 1980, also clearly Are worried. President Garter is in the process of drafting an inflation fighting package that is expected. To include Steep budget cuts. Other Steps including credit controls to restrict borrowing Are being reviewed by the administration. In other. Business developments this past week borrowing costs continued to soar As the prime lending rate Rose to Between 17% and 18 percent at major Banks. The rate has spiralled from at i5y4 percent feb.15, when the Federal Reserve launched its latest Effort to slow inflation and curb economic activity by making Money harder to obtain. I a so no j f m a m i present this Coupon Fri. Sun., March 7-9, for Loff on any take out Large pizza . Sun 41011pm 41o10pm Corner of . 2 Lake Road Ironwood 28-32 of. Bottles plus Deposit open sunday 8 to 5 m free milk regular or 2% with Coupon Purchase valid sunday March 9, i960, through tuesday noon March i i i i a x new store hours sunday 8-5 . 9-6 Friday 9-8 sat 9-6 sunday special bananas 4-lbs. For 00 Kemp s non Dairy Creamer Frozen for razor treat Corn Oil Margarine Golden quarters 59. Golden quarters great pork buys from Wilson Corn King canned Ham Corn King Bacon 3-lb. Hams feb Ham 99 great values store hours mon.-frl.9.9 . Sunday. 12-5 discount Center business . 2 4 Aurora St. Ironwood Michigan free parking ail sales hems limited to in store quantities we accept credit cards Good Sun., mon., mar. Only Reg. 2.89 Bounce the fabric really works in your dryer. 60-count pkg. While too last limit for 1 Reg. 49c each York alcohol the medicinal alcohol Ideal for Home use. Use for aches and pains to clean cuts and bruises. Limit 3 Btl. V for t cat litter keeps your Home clean and Odo free your cat or Kittens Happy. Limit 3 bags 1 29 Reg. 1.97 photo albums 10 Page size keeps your favorite photos neat and clean to View time after time. Twin Flat sheets fancy plaids to choose from. Pillow cases to match. Pillow cases 2 or 1.50 while Supply lasts 1 00 Reg. 1.77 Ftfe Zero ice melt 10-lb. Bag of ice melt for sidewalks Steps. Prevents falling on ice. While 100 last batteries the powerful Little batteries for radios toys clocks whatever. Give lots of Power. Limits-2 packs 18 Arvin Heater 1500 Watt Heater Ideal for Good size room. Model 30h 11. Just what you need this Winter. Reg. 23.96 Annn Paioa Coupon 20% off yellow sticker Price All remaining women s children s clearance fashions Good Sun mar. Sale Pam Ida cup film free postage stamp with every greeting card purchased 40c and up introducing our new no. Cards i Good Sun. Mon., mar. Paioa Coupon 49-oz. Pkg. When tide s in your Washer dirt is out limit 1 while 100 last Good Sun. Mon., mar. I with every Yard purchased at regular Price Pamoja Coupon free Yard fabric i i i free Yord must be same As original Yard. No split Yards. Zumft 2 free Yards Good Sun. Mon., Reg j Mir. Sale
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