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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Nov 05, 1979
Page
5
The Board of Directors of Peoples Drug Stores Inc. has declared a quarterly cash dividend of six cents per share on the company's common stock payable Dec. 28 to stockholders of record as of the close of business on Nov. 5.
Washington Post reports B&C International Inc of Virginia to buy 51 percent of Steed Mortgage and cover about 1.5 million in bounced checks. Bahran Khamnei leads B&C, brought in by United Virginia Bank among lenders negotiating Steed's fate. Steed faced line of credit cuts, payroll rejections, and mass layoffs as banks feared bankruptcy amid tight anti inflation policies. William Steed remains president, promising resolution for about 40 homebuyers awaiting mortgage funds. HOT WATER HEAT describes baseboard heat output rising with water temperature.
Washington Post Co. posted a third quarter gain of 7.9 million dollars on 137.5 million in revenue, with nine month earnings of 32 million. All three divisions showed revenue increases versus 1978, though two divisions saw lower net income. The gains stemmed from nonrecurring 1978 factors, and only the broadcasting division reported higher net income.
A Wisconsin based insurer, Sentry Insurance, is probed by Maryland officials for redlining in Baltimore. The Maryland Insurance Division accuses refusal to issue auto policies in poorer city sections and schedules a hearing for November 19 to dispute the charges.
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