Factory orders reboundamid signs of industrial plateau
Washington AP reports orders to factories rose 1.8 percent in February from January’s drop, signaling a sluggish industrial sector but hints of bottoming out. Durable and nondurable goods rose, transportation equipment led gains, while defense orders surged. Analysts note mixed signals as capital goods show firmer trends yet overall demand remains below late 1970s levels.
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Robert G. Dederick
Northern Trust Co
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Evalina Tanner
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Conrail to Move Headquarters Within Philadelphia
Consolidated Rail Corp will relocate its headquarters to a 41 story building on Commerce Square at 20th and Market Streets in downtown Philadelphia. The move ends a two year planning period, with most of its 3,000 offices currently spread across four buildings.
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Stock market downtrend continues into first quarter close
New York stock prices end a sluggish first quarter with a mixed session. The Dow Jones industrial average fell 20.49 to 2707.21 as late weakness hit blue chips. Volume rose to 139.24 million shares and the NYSE composite slipped to 186.85. NASDAQ edged up to 435.54 and AMEX gained 1.52 to 361.75.
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Trade report cites 35 nations with trade barriers
Washington reports 35 nations erected unfair barriers to U S products as part of a broader push by the Bush administration to curb a 109 billion dollar annual trade deficit. Japan tops the offenders with 19 pages of a 216 page document detailing infractions.
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Senate panel narrowly backs Ryan for thrift watchdog
The Senate Banking Committee voted 11 10 to send T Timothy Ryan Jr.'s nomination as director of the Office of Thrift Supervision to the full Senate for confirmation. Chairman Donald W Riegle Jr. said a Wednesday vote was expected after finishing the clean air bill.
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Labor Department
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T. Timothy Ryan Jr
Senate
Treasury Department
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Donald W. Riegle Jr
D-Mich
BG&E reports February earnings per share drop
Baltimore Gas and Electric Co. reports common stock earnings of 36.244 million dollars for the two months ended February 28, equal to 45 cents per share versus 43.484 million dollars, 55 cents per share for the prior year period ending February 28, 1989.
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Prnewswire
Baltimore Gas and Electric Co
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