Wall Street mixed as Dow edges higher and banks report losses
U.S. stocks closed narrowly mixed with the Dow up 1.76 to 2471.94 as decliners outpaced gainers on the NYSE. BankAmerica posted a $1.1 billion second-quarter loss, boosting reserves to cover shaky Latin loans, reflecting broader bank adjustments. The dollar fell in early European trade amid Gulf tensions and navy escort duties for Kuwaiti tankers.
MENTIONED IN THIS ARTICLE
New York
Wall Street
New York Stock Exchange
Ralph Acampora
Kidder, Peabody & Co
San Francisco
BankAmerica Corp
U.S
BankAmerica
A.W. Clausen
Bank of America
Latin America
Brazil
Mexico
Argentina
Venezuela
Chile
London
Persian Gulf
Europe
Gulf
U.S. Navy
Kuwait
Tokyo
Maryland Officials Urge Action On 1986 Tax Reform Act
Maryland State officials call for Congressional help to modify the 1986 Tax Reform Act, arguing it infringes state sovereignty and harms general obligation bond financing for schools, water and jail projects. They warn of rebate penalties, cash flow needs, and higher costs across state programs. The delegation signals sympathy but doubts actionable amendments. seek Treasury interpretations and national solutions alongside child care funding concerns.
MENTIONED IN THIS ARTICLE
Washington
Maryland
Louis L. Goldstein
Lucille Maurer
Board of Public Works
Benjamin L. Cardin
D-3d
Baltimore Area
Congress
U. S. Treasury Department
Frederick
Beverly B. Byron
6Th
Maryland Committee For Children
Durable goods rise driven by defense orders in June
Durable goods orders jumped 1.4 percent in June to 108.5 billion as defense spending surged 15.8 percent, masking modest gains in civilian sectors. Oil futures rose on Kuwaiti tankers escorted by US forces, while inflation remained stubborn at 5.4 percent for the first half of 1987. The Treasury reported a June deficit of 420 million, with nine months showing a 119.4 billion shortfall, and earnings after inflation slipped 0.4 percent in June.
MENTIONED IN THIS ARTICLE
Commerce Department
New York Mercantile Exchange
Persian Gulf
U.S
West Texas
Labor Department
Department of Health and Human Services
Deficit drops 28 percent in first nine months of FY87
The Treasury reports the federal deficit runs 28 percent below 1986's record, with nine months of FY87 completed. June deficit is $420 million. nine month total $119.4 billion. Revenues surge from late 1986 asset sales, yet Gramm Rudman targets remain unmet and 1988 1989 deficits may rise without bigger cuts.
MENTIONED IN THIS ARTICLE
Washington
Treasury Department
Department
Reagan
Congress
Partisan clash looms on Gramm-Rudman changes in debt bill
Washington Democrats and Republicans face a partisan fight after failed bipartisan talks on Gramm-Rudman deficit provisions. Lawmakers clash over toughened cuts and potential tax increases as the debt limit nears, with the government already constrained by cash on hand.
MENTIONED IN THIS ARTICLE
Washington
Senate
Phil Gramm
Texas
Congress
Supreme Court
Gramm
Pete Domenici
R-N.m
Senate Budget Committee
Budget Panel
Lawton Chiles
D-Fla
Chiles
Domenici
Gramm-Rudman
Pentagon
Reagan
Also Mentioned on This Page
The
Associated Press
Lucian Warren
Goldstein and Maurer
RELO
Dow Jones
Allen Sinai
Shearson Lehman Brothers
Old Factory
Berkeley Springs
West Virginia
Ily
Allg Pwr
Avemco
Baltge
We BellAt
CSX Corp
Citizens Bk
Clorox
ComSat
Exxon EX
Fairchild
Fcnb Corp
F&m Bancorp
Fst Md Bae
GenMotors
Hech B
Hewl Pack
IBM
Kmart
I Litton
Lowes
Loyola Cap
Marriott
MNC Fin
Mercantile
Bakshi Yet Moore Corp
Penney Sa
Plantin
Potom el
Sears
Southland
Whittak
Baker Watts & Co
Fredericktown Bank & Trust Company
Frederick County
Federal
Agreeme
Presell
Equity Capital
Elizabeth M. Grossnickle
Robert E. Gearinger
Francis S. Gaither, JR
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!