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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Mar 04, 1999
Page
8
U S stocks closed mixed as technology shares rebounded late after a broad slide. The Dow fell 21.73 to 9275.87 while the Nasdaq rose 6.17 to 2265.20 and the S&P 500 gained 2.29 to 1227.70 amid rising inflation fears and strong economic data.
Fredericktown Bank and Trust Co will underwrite all costs for the 1999 Builder Olympics at the Frederick County Builders Association home show set for March 2021 at the Frederick Fairgrounds. More than 130 students will compete in masonry framing electrical and landscaping with winners meeting Rep. Roscoe Bartlett in Washington later this spring. The bank notes its long association with the county trades and says this support reflects commitment to local business and skilled labor.
Two Frederick natives Donald Rice and Dr James Rice gain recognition in California and Rhode Island. Donald Rice leads Scios as chairman and heads UroGenesys in Santa Monica research. Dr James Rice advances solid mechanics at Brown Harvard and remains a National Academy member.
Allegheny Energy's board approves a shareholder rights plan to guard against hostile takeovers and Year 2000 issues. spokeswoman Cyndi Shoop says there are no current takeover actions, but the move aims to protect shareholders and enable clear communication if any bid arises.
Grain and soybean futures eased on the Chicago Board of Trade as a two day rally spurred farmers to sell stored supplies. Wheat May delivery dropped to 2.60 per bushel, corn 2.14, oats 1.04, soybeans 4.67. Livestock mixed with live cattle up to 68.25, feeder cattle down to 73.10, lean hogs 42.55, pork bellies 48.50.
The Frederick Service Merchandise will close this year as part of 134 store cuts announced by Nashville based company. Laura Ellis says clearance sales will occur with complete closure by early June. Also noted are hearings on stranded costs for Potomac Edison and a safety engineers meeting in Hagerstown with attorney Joe Jagielski speaking on workers compensation.
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