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Newspaper
Delaware County Daily Times
Location
Chester, Pennsylvania, United States of America
Date
Dec 29, 1982
Page
12
Mostly cloudy and breezy today with a chance of an afternoon shower. Highs reach the low to mid 40s. Tonight look for snow flurries or partly cloudy and cold with lows in the low to mid 20s. Extended period stays cool with sun and cold through Friday and moderating conditions into the weekend. Highs in the 30s to 40s, overnight 20s, then near 50 by Tuesday.
Stocks fell after a five session run as profit takers pared gains from an all time high. Dow dropped 11.68 to 1058.87, NYSE down 0.69 to 80.94, and S P 500 slipped 1.41 to 140.77 amid light volume and a brief NYSE fire evacuation. Chase Manhattan cut prime lending rate to 11 percent. AT&T was the most active NYSE issue, off 0.5 to 59.25.
Chase Manhattan Bank reduced its prime lending rate to 11 percent, becoming the first major bank to respond to the Fed's move to cut overnight borrowing costs. Mitsui Manufacturers Bank of Los Angeles matched the rate, while UMB Bank & Trust Co. had already moved to 11 percent earlier this month. Experts say banks may widen spreads amid high non-performing loans and new money market accounts.
Dr Craig Christianson skied to a Delano area home during a blizzard to deliver Mary Cleveland's baby. The mother and infant girl, weighing about 6½ to 7 pounds, were reported healthy. A sheriff deputy provided a snowplow escort as the doctor made a midnight house call.
Almanac entry notes Wednesday December 29 1982 as the 363rd day of the year with two to follow. Highlights include birth of Andrew Johnson on December 29, 1806 and historical events such as gas lights at the White House in 1848 and the LaGuardia Airport bombing in 1975. A thought from Remy de Gourmont closes.
Prices furnished by Elkins Co. report the Dow Jones Industrial Average closing Tuesday at 1,058.87, down 11.68 with volume 59.3 million. Gold closed at 456.30 in New York, down 1.90, and 454.50 in Zurich, unchanged. Silver closed at 11.05 in New York, down nine cents per troy ounce.
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