Fed rate hike sparks elation on Wall Street and worry in Congress
The Fed raised the discount rate to 3.5 percent and the federal funds rate to 4.25 percent, prompting rallying stocks and rising bank prime rates led by Citicorp to 7.25 percent. Economists say mortgage costs may ease as long rates anchor, while critics warn higher borrowing costs could slow the recovery. A bipartisan New England senator group warned higher rates may harm growth.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Wall Street
Congress
Fed
David Jones
Aubrey G. Lanston & Co
New York City
Citicorp
Main Street
Martin Regalia
U.S. Chamber of Commerce
Joe Prakken
Laurence H. Meyer &Associates
St. Louis
Central Bank
Alan Greenspan
New England
Senate
George Mitchell
State urged to underwrite 250000 loan for ice rink
Frederick city and Frederick County weigh backing a 250000 loan from the Maryland Industrial Commercial Redevelopment Fund to Wendy and Byron Dyke for a proposed ice rink offed. The plan calls for a 15 year loan at just over 4 percent with state SBA support and a second lien shared by all parties. Officials want the business plan before voting, citing expected annual tax revenue over 60000 and 25 to 40 jobs over three years.
MENTIONED IN THIS ARTICLE
Frederick
Maryland Industrial Commercial Redevelopment Fund
Wendy
Byron Dyke
Braddock Heights
Arthur Drea Jr
Maryland Department of Economic and Employment Development
Frederick County Commissioners
Frederick Board of Aldermen
John Derr
R-Frederick
Farmers & Mechanics National Bank
First Bank of Frederick
U.S. Small Business Administration
SBA
Drea
Ron Sundergill
Witness shop owner recalls Thanos execution in Maryland
Frederick shop owner William D. Berry testified as one of 12 witnesses to John Thanos death by lethal injection at Maryland Penitentiary. Berry, 47, said the state legal process was justified and he supports capital punishment. He attended after a prior request and stressed citizens’ responsibility in enforcing justice.
MENTIONED IN THIS ARTICLE
Frederick
John Thanos
William D. Berry
Edgeworks Knife and Supply Co
Maryland
Thanos
Berry
Mr. Berry
Antil
Frederick County BoE adopts second generation goals
The Frederick County Board of Education unanimously approved a new five goal framework to guide student success into the next century. The plan emphasizes critical thinking and problem solving, with multiple tests and implementation steps to hold the system accountable.
MENTIONED IN THIS ARTICLE
Boe
Frederick County Board of Education
Frederick County
Norman Quist
Quist
Daniel Gadra
Susan Reevin
Gadra
Frederick Board Names Orchard Grove Elementary School
The Frederick County Board of Education voted to name a planned Hillcrest area elementary, Orchard Grove Elementary School. The project advances as officials confirm the name for the fourth second elementary, with the opening expected on a forthcoming schedule.
MENTIONED IN THIS ARTICLE
Frederick County Board of Education
Hillcrest
Frederick
Orchard Grove
Board of Education votes to start meetings at six
Board of Education members, noting late meetings led to poor choices, approve a 6 p.m. start time after a late Tuesday vote. The move aims to improve efficiency and decision quality for future sessions.
MENTIONED IN THIS ARTICLE
Board of Education
Schrodels abandon suit pay $21 000 to Johnson
The Schrodel case against Frederick County and attorney David Johnson ended when the couple abandoned their $5.5 million malpractice claims and agreed to pay Johnson $21,000. The dispute involved land taken for a landfill and rejected rubble fill profits, with the jury dismissed after key testimony was barred.
MENTIONED IN THIS ARTICLE
Schrodels
Westminster
David Johnson
William
Kathleen Schrodel
Reich
Ford Road
Frederick County
Mr. Johnson
Schroders
G. Edward Dwyer J
Dwyer
Schrodel
Inside The News Weather Outlook and Note on Paper
Mostly cloudy tonight with lows in the 40s. Clouds persist Thursday with highs near 60. Western Maryland weather map on Page 7 Az Food. Not the same old grind. Pepper your food with the classic spice. See Page 400000 rr. Portions of The Frederick News-Post are printed on 400% recycled paper and are recyclable.
MENTIONED IN THIS ARTICLE
Maryland
Frederick
Stabbing case in Frederick yields mixed charges drop and next steps
Two Frederick men, Michael Allen Toberg 18 and Cimmeron Dante Bowens 19, see assault with intent to murder and maim dismissed as evidence insufficient. Prosecution wins move to Circuit Court on attempted armed robbery. Incident began near Carroll Creek when suspects sought money for crack and attacked Douglas and Andrew Zaruba. Douglas hospitalized five days after stabbing by Jason Edward McCoy. Zaruba Gallery owner.
MENTIONED IN THIS ARTICLE
Frederick
Carroll Creek Park
Michael Allen Toberg
Cimmeron
Dante Bowens
W.W. Milner Roberts
J. M . Fromichael
Hansell
Douglas
Andrew Zaruba
Carroll Creek
Market
Carroll Streets
Pvt
Bowens
Fairfield
Zarubas
Zaruba
Jason Edward McCoy
Douglas Zaruba
Frederick Memorial Hospital
S. Market St
Bitter cold linked to crime drop in Frederick County
The bitter cold is blamed for the peach crop loss and credited with a 14.5 percent drop in serious crime in Frederick County in the first quarter of 1994. Statewide serious crime fell 1 percent, with violent crime leading the declines. Fredrick murders dropped from six to one year over year, while robbers and larcenies showed mixed changes, and arson fell statewide from 12 to nine cases.
MENTIONED IN THIS ARTICLE
Frederick County
Maryland
Ray Wojcik
Also Mentioned on This Page
Timothy Jacobsen
Karen Orgler
Karen
Katie
Wilson
Jessica Gregg
News-Post
Susan C.nicol
Glenn McMahan
George Dorsey
Inside the News
Susan C. Nicol
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