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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Nov 19, 1998
Page
14
The July to September deficit rose to a record 44.5 billion dollars as exports grew 3.3 percent to 77.1 billion. For the first nine months, total exports declined 0.5 percent while imports slipped 0.2 percent, with Pacific Rim goods deficit surging 36 percent to 119 billion and the China gap near August's record before shifting with Japan.
U.S. trade in goods and services fell to 5.07 billion from 5.2 billion. The deficit with Canada rose 40 percent to 253 billion, the highest since December 1996, reflecting the end of General Motors strikes with auto parts from Canada up by 1.1 billion.
America Online and Netscape shares surged after a report they were in talks to make Netscape’s browser the default for AOL’s online service. AOL rose to 83.75, an all time high, on NYSE with about 17 million shares traded. Netscape jumped to 39.25 on Nasdaq amid heavy volume near 25 million shares.
Investors expand holdings in downtown Lawrence state plans for a 24 hour pool hall or separated restaurant and bar, but signs indicate buildings declared legally abandoned for unpaid rents. Former Tin Pan Alley operator Glenn Sohl notes power loss and basement flooding after rent arrears. Jayhawk Equities eyed tenants for the Varsity Theater and multiple mass street properties.
As of Wednesday's close Farmers Cooperative Assn lists South Elevator Wheat at 2.91, soybeans 5.52, milo 1.72, corn 1.96. Midland Elevator shows soybeans 5.52, others NA or 1.97 for corn. North Elevator lists Wheat 2.96, soybeans 5.52, milo 1.72, corn 2.01.
Feeder cattle receipts estimated at 3 200 with varied price movement. Steers and heifers show mixed changes by weight, calves weaker but not fully tested. Omaha quotes show hogs higher on barrows and gilts, cattle limited by thin demand. Kansas City reports quiet trade with 37 600 cattle for the week.
Metal quotes show Altanium at 59.2 cents per lb and copper at 75.00 and 71.55 cents per lb. Lead 48 cents, zinc 49.52 to 50.02 cents, tin 3.6716 per lb. Gold around 296.50 to 297.80 per troy ounce, silver about 5.000 to 4.964 per troy ounce, nickel and copper futures noted, mercuries at 175.00 per 76 lb unit, platinum near 342.00 to 352.40 per troy ounce.
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