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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Aug 13, 1982
Page
8
The stock market drifted to a 27 month low after news of troubles at a small government securities firm. Selling pressure hit banking shares and the Dow slipped from morning gains, finishing down 0.29 at Tib. The Dow has fallen about 45 points since August 2, marking a new low since spring 1980.
Shares of Chase Manhattan Bank tumbled after Lombard-Wall Inc filed Chapter 11. Chase holds about 45 million pounds in Lombard-Wall loans but says risk is far below that. Treasury markets showed strength as investors seek safety amid recession fears while Lombard-Wall creditors weigh loss exposure. A separate corporate appointment announced David Chapin to Phoenix Inc board, detailing his career and civic ties in Frederick.
Telephone Answering Service of Frederick was accepted into the Associated Telephone Answering Exchange Inc. The association aims to foster cooperation among members and advance shared interests in telephone answering services through information exchange, high standards, mutual aid, and collective planning. The Frederick firm is owned and managed by Mrs. Pamela Shaw Snyder.
Dr. Ronald H. Parker joins Farmers & Mechanics National Bank in Frederick as vice president and director of human resource management after leading a management consulting firm. Parker has trained thousands, helped 300 organizations, and promotes employee development. He teaches at George Washington University and Hood College and is active with local civic groups in Yellow Springs.
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