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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Mar 12, 1983
Page
2
New York stock averages fall modestly in thin trading ending their first weekly decline since January. The Dow Jones industrial average slips 3.20 to 1114.74, marking a 2.22 point weekly loss after six straight gains totaling nearly 88. Volume runs 67.24 million shares, the lightest since Jan 31. Searle leads losers, dipping 6 to 37 1/2 on heavy turnover.
Amenean Telephone and Telegraph and related stocks moved on a volatile trading day after Moody's lowered ATET debt and a new stock offering. Gibraltar Financial proposed to acquire Financial Federation at four and a half shares per Fed Fed share, while the broader market retreated with mixed index moves and high turnover.
Independent audits of 47 percent of U S electric utilities found generally sound management with 58 percent receiving highly positive reviews and 32 percent positive ratings External factors such as inflation oil embargo and environmental pressures were cited as key impediments while 90 percent of audited firms earned overall positive ratings with improvement recommendations The report covers 1974 to 1982 and was prepared for the Edson Electric Institute by Quadrex Corp
The National Weather Service predicts rain across the Pacific Northwest on Sunday March 13. Snow is forecast for the northern tip of Maine.
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