Reagan urges funding for savings and loans
The Reagan administration urged Congress to fast track a plan to raise up to 25 billion dollars for the FSLIC to replenish reserves amid growing S&L failures. A financing corporation would issue zero coupon bonds to back a 15 billion dollar plan, with banks contributing 3 billion and potential 10 more over two years.
MENTIONED IN THIS ARTICLE
Washington
Reagan Administration
Congress
Swift
Institutons
Treasury Coder
George D. Gould
Samilar
Federal Savings and Loan Insurance Corp
S&l
FSLIC
S&ls
Bank Board
Kinetemng Corporation
Gould
Hanson challenges use of funds in S&L sale
Baltimore based John Hanson Savings and Loan asks federal court to pause the Mellon Bank purchase of Community Savings and Loan. Hanson contends Maryland Deposit Insurance Fund money should not back the $131 million deal which would free over $300 million in frozen deposits. Opposition cites MSSIC collapse and losses while Maryland seeks court guidance on MDIF withdrawals and Chevy Chase contribution.
MENTIONED IN THIS ARTICLE
Gould
Financial Institutons
S&l
Edwin J. Gray
Federal Home Loan Bank Board
S&ls
FSLIC
Gray
Reagan
Federal Home Loan Banks
Baltimore
Savings and Loan
Mellon Bank Corp
Pittsburgh
John Hanson Savings and Loan
Frederick
North Market Street
U.S. District Court
Mellon
Hanson
Dennis M. Sweeney
John Hanson
Maryland Deposit Insurance Fund
Maryland Savings Share Insurance Corp
Maryland
MDIF
Sweeney
Second National Building and Loan
MSSIC
Maryland Court of Appeals
Chevy Chase Savings and Loan
Chevy Chase
Ford to cut 10000 white collar jobs by decade end
Ford Motor Co plans to eliminate about 10,000 white collar positions in the United States by decade end, trimming 20 percent of salaried workers. Chairman Donald Petersen cited factory consolidation and a 1920s plant closure in Green Island, New York, as part of the effort, while expanding import plans and early retirement offers to ease transfers.
MENTIONED IN THIS ARTICLE
Ford
Detroit
Ford Motor Co
United States
Donald Petersen
Hudson River
Green Island
N.Y
Petersen
Mazda Motor Corp
Japan
U.S
James Roti Roti
930
Roti Roti
Plymouth
Rot: Row
Rally in market as investors seize cautious optimism
New York stocks edged higher with the Dow rising 10.91 to 1786.21 as retail and energy shares led. NYSE volume reached 136.058 million, aided by relief over Treasury bond sales. Bonds yielded 7.37 and 7.47 percent on recent auctions while S&P indices and NASDAQ advanced moderately.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Mary Wall
Treasury
NYSE
Nyse-Lsted
Standard & Poor
S&p
American Stock Exchange
Potomac Edison offers 10 day bill extension for aid eligible
Maryland customers who qualify for government assistance can receive a 10 day extension to pay electric bills. Those relying mainly on Social Security, SSI, disability payments or similar aid get 30 days instead of 20. Before the extension takes effect, applicants must be identified by Potomac Edison and have their billing cycle extended.
MENTIONED IN THIS ARTICLE
Potomac Edison
Maryland
Frederick Trading Co reports 24 percent Q1 sales rise
Frederick Trading Co says first quarter sales to March 31 rose more than 24 percent to 10.9 million from 1985. Earnings per share dipped to 48 cents from 49 cents due to startup costs from supplying hardware to 63 outlets of a national account recently acquired. The company, a leading wholesaler of hardware, housewares and plumbing and heating supplies, notes last trade was down 21 percent after a 3-for-1 stock split.
MENTIONED IN THIS ARTICLE
Frederick Trading Co
Also Mentioned on This Page
Associated Press
Henry Ford
Mich
Hermosillo
Mexico
UAW Local 530
Joyce Doe
Nancy R. Grimm
NEW York Life Insurance. and Annuity Corporation
N. Market St
N. Market Street
Rt 15
Dew Jones
Suse Colume
Losdan Guild
Allg Pwr
Avemuu
BahGe
Bell
CSX Corp
Basa Clorox
Osie ComSat Sat
Reyon Fairchild Inday
F&m Bascorp
Gen Motors
Genex Gay
GenStar
Kmart Aw
Litton Bile Lowes
Marriott
Nau Corp Mercantile Bakshi Hedda Moore Corp
Penney Tas
Patan
Ryan Homes Safeway
Sears
Baker Watts & Co
Frederick County National Bank
Semen
Frederck
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