First American Bank Increases Dividend Amid Record Earnings
The board of First American Bank of Maryland voted to raise the regular cash quarterly dividend from 16 to 20 cents per share payable April 18, 1980 with stockholders of record March 28, 1980. For 1979 earnings rose to $2.53 per share before securities transactions and $2.35 per share net, the highest in bank history. Total assets reached a new peak at $330,054,000, deposits rose to $265,077,000, and net loans grew 31 percent after a prior three year 27 percent compound growth. The bank operates a local Frederick branch on Baugortans Lane.
MENTIONED IN THIS ARTICLE
First American Bank of Maryland
Stock market remains stable amid light trading
New York reports a quiet session ahead of a three day holiday weekend with the Dow Jones Industrial Average slipping 3.67 to 784.13 and weekly gains at 6.48 points. NYSE volume reached 27.97 million shares, down sharply from Wednesday, as oil issues faltered and lenders faced a 2 percent prime rate rise initiated by Chemical Bank, though traders saw potential easing in higher rates.
MENTIONED IN THIS ARTICLE
Thareday
Dow Jones
Balt GE
BethSu
Chessie
Clorox
Cotacil
Exxon
Fairchild
Harris
IBM
Plantro Is
Potom Ei
Safewy
Sears
Tandy
Texaco
USFG
Warner L
Wash Gs
Watkins J
Whittak
Baker Watts & Co
Frederick
NEW York
Wall
Mobil
Standard Oil
Indiana
California
Chemical Bank
Gasoline targets set for quarter
The Department of Energy set voluntary state gasoline conservation targets for the second quarter of 1980 aimed at reducing overall use to about seven million barrels per day. The national target for 1980 is 400,000 fewer barrels per day, about 5.5 percent below 1979 levels, with state targets derived from tax data for accuracy.
MENTIONED IN THIS ARTICLE
Department of Energy
Carter
U.S
Federal Highway Administration
FHWA
DOE
Puerto Rico
District of Columbia
Full employment vs energy conservation clash, Theobald says
New York based economist Robert Theobald argues the United States pursues contradictory goals by seeking full employment and energy conservation. He says the push for jobs drains energy and predicts no candidate in 1980 will advocate less than full employment, proposing a phased shift to a new structure recognizing limits to job creation. Theobald, India born and Cambridge educated, is author of Free Men and Free Markets and serves as a consultant.
MENTIONED IN THIS ARTICLE
New York
United States
Robert Theobald
Theobald
Cambridge
Wickenburg, Ariz
Mortgage Delinquencies Fall Amid Inflation Pressure
The Mortgage Bankers Association reports a nationwide drop in overall mortgage delinquencies to 4.70 percent in Q4 1979, driven by a sharp fall in 30-day rates to 3.41 percent. Long-term delinquencies rose across loan types while foreclosures rose to 0.15 percent. VA and FHA loans showed ongoing delinquency challenges. The National Delinquency Survey covers over 6.6 million loans and $140.6 billion in debt.
MENTIONED IN THIS ARTICLE
America
Mortgage Bankers Association of America
MBA
U.S
Thomas R. Harter
Harter
FHA
Economics and Education Department
Plantronics reports third quarter sales and earnings
Plantronics Inc reports third quarter sales of 23.519 million dollars, up 9 percent from last year's 21.635 million. Income drops to 1.897 million from 1.983 million, and per share earnings are 30 cents versus 32 cents. Nine month totals reach 69.892 million in sales, up 11 percent from 62.733 million, with income of 5.889 million and earnings of 93 cents per share versus 96 cents. Backlog stands at 26.974 million, up from 24.979 million. Plantronics manufactures telecom and data equipment. Frederick Electronics is a division.
MENTIONED IN THIS ARTICLE
Plantronics Inc
Plantronics
Frederick Electronics
Theobald on full employment and energy use reform
Theobald argues against maintaining full employment as a sole goal. He estimates 15 to 90 percent potential labor savings and favors energy efficiency through flexible hours, shared jobs, teleconferencing, and extended use of buildings and equipment. Inflation risks rise as market discipline fades, suggesting replacing full employment with basic economic security.
MENTIONED IN THIS ARTICLE
Theobald
Also Mentioned on This Page
First American Bank
the Bank
Baugort Ans Lane Frederick
John Cunniff
H. B. Duvall, Inc
Patrick St
Frederick, Md
D Press
Weis
Jefferson
Catoctin
Tak
Middletown, Maryland
Middletown
Eypeet
Jerry
Ron
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