Banks Cut Prime Rates Amid Recession Fears
New York United Press International reports most major banks lowered their prime lending rate to 15 percent on Tuesday, with Citibank leading the move after Chase Manhattan set the trend last week. Bank of America, Morgan Guaranty, First National Bank of Chicago, Chemical, Irving, and Manufacturers Hanover followed. Continental Illinois and Crocker reduced to 15 2 percent from 16 percent, the lowest in the country.
MENTIONED IN THIS ARTICLE
New York
UPI
Bank of Chicago and Crocker National Bank of San Francisco
Treasury proposes new variable rate savings bond
Treasury Secretary Regan announced a proposal for a new variable rate savings bond to be submitted to Congress in weeks. The bond would pay 85 percent of the average five year Treasury return during the holding period, with a minimum five year hold to qualify for the higher rate and fixed-rate redemption if redeemed earlier.
MENTIONED IN THIS ARTICLE
Treasury
New York
UPI
Donald Regan
Congress
Regan
New York City
Nevada seeks control for Jimsonweed drug use
Jimsonweed, a wild plant in western deserts, should be classified as a controlled drug, Nevada Pharmacy Board told on Tuesday. Jerry Rowlett of Hawthorne cited seeds and leaves shared in schools and hospitalizations among very young users, describing violent reactions to self and others.
MENTIONED IN THIS ARTICLE
Nevada Pharmacy Board
Jerry Rowlett
Hawthorne
Rowlett
Deadly weed menace draws youth abuse and calls for control
Rowlett warns that a dangerous plant of the nightshade family, known as loco weed, is being abused by youngsters who chew seeds and smoke or brew tea from leaves. It can cause convulsions, eye and brain damage, with cycles of new youth groups taking over within years. Officials note legal controls would help curb sale and possession if classified as a controlled substance, though eradicating the plant itself is impractical as it grows wild.
MENTIONED IN THIS ARTICLE
Rowlett
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Bank of
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Naamans RD
Kirkwood Hwy
Irkwood PA
Ae Bale
Salar
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Macdade Blvd
Folsom
Pathmerk
Delaware County
Berizomatic
Venturi
Yaskin
Wanamaker
Essington
Pennsylvania Academy OF Ballet
Acade
John White
Margarita de Saa
Monte Makous
Anna Marie Guglielmo
Baltimore Pike
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