Dow hits new high then slips as rates rise and bids fade
The Dow Jones industrial average rose to 6,567.18 on Monday, surpassing the prior high but retreating from an earlier 75-point gain as rising oil prices and higher interest rates rattled bonds. The broader market was mixed with the Nasdaq up, S&P 500 down, and traders watching inflation worries as energy costs rise and political tensions affect fiscal policy.
MENTIONED IN THIS ARTICLE
New York
Newt Gingrich
House
Peter Canelo
Dean Witter Reynolds
Banking Committee
Jim Leach
Iowa
Gingrich
Repub
Lican
Treasury
Main Street
Wall Street
Canelo
Toys R Us
New York Stock Exchange
Apple Computer
Prudential Securities
Bear Stearns
Apple
NYSE
Standard & Poor
Dow Slightly Higher as Tech Stocks Trim Gains
Stocks of area interest extended Friday’s rally but trimmed gains as computer makers sold off after profits take. Intel rebounded after a Salomon upgrade but faltered from a earlier 3% gain, IBM led the Dow with a 2% rise while crude oil gains supported broader indices. Texaco Exxon DuPont and Chevron posted modest gains, AT&T lagged after a Salomon earnings downgrade, and GM edged higher on a Smith Barney upgrade amid mixed overseas markets.
MENTIONED IN THIS ARTICLE
Intel
Salomon Brothers
IBM
Dow
Texaco
Exxon
DuPont
Maryland Dealership Shakeout Could Cost One Fifth of Maryland Dealers
Abingdon based Boyle Buick may merge with nearby Pontiac and GMC outlets as GM considers cutting its Maryland network from 8,300 to 7,000. Chrysler Volvo and Ford dealers face closures and consolidation as automakers seek profitability. Maryland dealers fear reduced competition, higher survivor stakes, and possible buyouts totaling up to a billion dollars.
MENTIONED IN THIS ARTICLE
Maryland
Boyle
Boyle Buick Inc
Pontiac
Bel Air
Chrysler
Volvo Cars of
North America
United States
John McWilliams
Ford
Indian Head
Maryland New Car and Truck Dealers Association
Dean Rotonde
North American
McWilliams
Chevrolet
Baltimore
Area truck drivers named Driver of the Year finalists
Maryland Motor Truck Association honored finalists Paul Mong of Frederick Produce Maurice Bradshaw of Redland Genstar William Runkles of Hahn Transportation and Machael Hodges of Southern States. Howard E Silvers named director of acquisitions for Garland McPherson & Associates. Silvers, a UNC graduate, holds an advanced degree in trust management from Carnegie Mellon.
MENTIONED IN THIS ARTICLE
Maryland Motor Truck Association
Paul Mong
Frederick Produce
Maurice Bradshaw
Redland Genstar
William Runkles
Hahn Transportation
Machael Hodges
Howard E Silvers
Garland McPherson & Associates
Frederick
Mr Silvers
University of North Carolin
Carnegie Mellon University
Frederick native joins Wheat First Butcher Singer as financial consultant
Ryan Main, a Frederick native and Mount St Mary’s College graduate, becomes a financial consultant at the Frederick office of Wheat First Butcher Singer. He previously worked as a registered representative with Olde Discount Stockbrokers and as a sales representative for First National Bank of Maryland.
MENTIONED IN THIS ARTICLE
Ryan Main
Frederick
Wheat First Butcher Singer
Mount St Mary’s College
Olde Discount Stockbrokers
First National Bank of
Marvland
Honored Frederick Sutton rep at NY business form
Jennifer Sutton a Frederick representative of Edward Jones was one of 30 honored at a New York business management form for outstanding management skills. William T Raymond of Frederick an audit supervisor for WMATA earned Certified Government Financial Manager after completing 89 hours of CPA and government accounting education.
MENTIONED IN THIS ARTICLE
Jennifer Sutton
I Frederick
Edward Jones Financial Services Company
New York
William T Raymond
Frederick
Washington Metropolitan
Wheat futures rise on weather fears in Plains trading
Chicago Board of Trade futures surged as a cold snap threatened the winter crop in the central and southern Plains lacking snow cover. Early gains faded with late soybean weakness amid Brazil rain forecasts, with March wheat up 4% to $3.88 a bushel while corn and oats also advanced before turning mixed.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Plains
Brazil
Expansion at Allen's to Add Card Shop in Downtown Frederick
Sanford Blum owner says Expansion Allen's in downtown Frederick will extend to an adjoining site. He plans to remove merchandise and shelving from the north wall so it can be demolished later this week. The new section will be a card shop while the rest of the store keeps a variety of gifts.
Free furnace tests offered by Farmers Co-Op in Frederick
Farmers Co-Operative Association of Frederick offers free inspections of oil burning furnaces as a community service. Richard Rutherford says technicians travel to homes to test efficiency with modern equipment. No obligation, aimed at saving on rising heating costs within a 25 mile radius. Call 663-3115 for details.
MENTIONED IN THIS ARTICLE
Farmers Co-Operative Association of Frederick
Richard Rutherford
Johnny Rutherford
East South Street
Mr. Rutherford
Hottinger
U.S. Department of Energy
United States
Europe
Rutherford
Frederick
Ed Waters Jr
Johnny Hottinger
Farmers Co-Operative Association
PNC Bank to open Frederick Shopping Center branch
Roy Morris of PNC Bank announced the Frederick Banking Center will share space with AAA Maryland Travel Agency at West Seventh Street. The branch will offer full banking services plus stock brokerage and insurance. No opening date or additional local branches set. Video Warehouse is remodeling the former Antietam House Restaurant site in the center.
MENTIONED IN THIS ARTICLE
PNC Bank
Frederick
Roy Morris
Maryland
West Seventh Street
Morris
PNC
Video Warehouse
Antietam House
New Frederick Karate and Dance Studio Planned
Springridge Karate and Dance will opens in February at the former Sycamore Store off Md. 144 in Frederick. Frank Eichorn and Sheri Mendelshohn are named as partners in the venture.
MENTIONED IN THIS ARTICLE
Sycamore
MD. 144
Frederick
Springridge Karate and Dance
Frank Eichorn
Sheri Mendelshohn
Also Mentioned on This Page
Chevron
At&t
General Motors
Smith Barney
Tokyo
Frankfurt
London
GTE Corp
Dow Jones Industrial
Kmart
Life Tech
Lockheed Alpha Ind
Altimax
Lowe
S Marriott
Avemco
Ts Balt GE
Va Mercantile Bell
Bakshr
BioWhittaker
NationsBank
Black Dr
Mvryan
Jcpenney
Satis Csx Co
Pepsico
ASK WalMart
VY First United
Va Ask Washes
Fred Brewn's
A Weis
Ferris
Giant Foods
Baker Waits Inc
Faye Cannon
Farmers and Mechanics National Bank
Ms. Cannon
Dottie Lowman
Paulette Palmer
Brenda Saylor
Glenna Padgett
Barry Poffinberger
Pat Mohler
Abingdon
Clarence Boyle Jr
Joseph P. Carroll
Carroll
Mr. McWilliams
Siewspar
Washington
Treasury Department
FCNB
Umbanek
Farmers Co-Op
Tewe
Ost
Scottsdale Securities Inc
Scottsdale
Mutual Funds
Oil & Gas
Scottsdale Securities, Inc
Discount Stock Brokers
Rockville
SIPC
Howie
Scottadale
Quem & Revi
Orde
Niew Npa
Peel Phive
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