Stock market closes lower amid erratic session
Stocks fell as IBM led Dow retreat and major aerospace shares slid. The Dow slipped 9.13 to 855.12, S&P 400 dropped 1.91 to 127.95, and NASDAQ eased to 157.73 amid higher NYSE volume. Berkshire, Kodak, TI, Lockheed, Boeing and General Dynamics posted losses as markets ended down. Burlington Northern rose 1% after forecasting a strong year and hinting at a potential stock split.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
IBM
Saudi Arabia
Glamor
Minnesota Mining & Manufacturing
Eastman Kodak
Texas Instruments
Xerox
Aerospace
Lockheed
Boeing
McDonnell Douglas
General Dynamics
Standard & Poor
S&p
Burlington Northern
FERC to fast track utility rate rise for coal conversion
The Federal Energy Regulatory Commission announced it will move quickly on requests by electric utilities to raise rates needed to convert to coal fired generation. The policy aims to encourage coal use, especially in oil dependent New England, amid broader energy market changes and a sector facing higher costs and potential rate suspensions.
MENTIONED IN THIS ARTICLE
FERC
New England
Charles B. Curtis
New England Power Co
Boston
Mass
NEPCO
Brayton Point
Somerset
Salem Harbor
Salem
Baltimore luncheon set by committees on March 19
The Greater Baltimore Committee and Maryland Chamber of Commerce announce a luncheon on March 19 at the Baltimore Convention Center on Pratt Street. Speaker will be Jey Ven Andel, chair of the Shelher of Commerce, with reports from the two groups. Price listed as 75 dollars with reservations required.
MENTIONED IN THIS ARTICLE
Baltimore Committee
Maryland
Greater Baltimore Committee
Ibt
Meryviand Chamber of Commerce
Bude
Merch
Bomore Comverton
Pratt Street
Spusker
Andel
Chaormar
Shelher
Commerce
U.S
Maryland Chamber
Greater Bellarore Cormitttes
Energy grants set for school and public building upgrades
The Department of Energy will award 157.5 million dollars in grants across ten regional offices to improve energy efficiency in schools hospitals and local government and public care buildings. Grants require non federal matching funds and two types support audits and implementation of energy saving measures.
MENTIONED IN THIS ARTICLE
Department of Energy
DOE
Office of State and Local Programs
Conservation and Solar Energy
Sears Indicted Over Conspiracy in TV Rebates Case
A federal grand jury in Los Angeles charged Sears Roebuck and Co with conspiracy and making false statements to Customs. The nine year scheme allegedly hid 1.1 million in rebates from a Japanese TV maker to dodge duties. Sears said the conduct was proper and legal, and planned to plead not guilty.
MENTIONED IN THIS ARTICLE
Los Angeles
Sears, Roebuck and Co
U.S
Sears
Japan
Chicago
First Maryland Bancorp declares quarterly dividend
The Board of Directors of First Maryland Bancorp has declared a quarterly cash dividend of 30 cents per share of common stock. The dividend will be paid April 1, 1980, to stockholders of record March 14. This is the first cash dividend at the new annual rate of 1.20 dollars per share, a 10 cent increase over the previous rate.
MENTIONED IN THIS ARTICLE
Lima
Ohio
Chrysler
Army
Fort Knox
Aberdeen Proving Ground
Maryland
Donald Bullock
David Moore
Sterling Heights
Mich
Chryster
Warren
First Maryland Bancorp
Also Mentioned on This Page
Galaxy Oil
Altex Oi
Colorado Gas
Washington
Federal Savings and Loan Associations
Credit Unions
Mutual Savings Banks
Federal Reserve Board
Federal Deposit Insurance Corp
Federal Home Loan Bank Board
National Credit Union Administration
Treasury
House
Annapolis
House of Delecates
Conto
Steven Siar
Mort Perrok
First
Baltimore Federal Presents
Baltimore
Baltimore Federal Safety
Federal Dept. M P.O
Frederick Towne Mall
Lira
Keogh
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