Market slides as Fed tight-money moves scare investors
New York securities wilt as Federal Reserve actions aimed at cooling inflation push short term rates higher. The Dow Jones average drops 13.57 to 344.04, NYSE volume sinks, and major tech names like IBM retreat amid tighter liquidity. gold and dollar move contrary.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Fed
Otto Eckstein
Data Resources Inc
Michael Evans
Evans Economics
New York Stock Exchange
IBM
NYSE
Control
Motorola
Texas Instruments
Burroughs
Xerox
Amer
Chamber Meeting Set With Senator Thomas Guest Speaker
Frederick County Chamber of Commerce will host Sen Edward F Thomas Republican from Frederick as guest speaker at the monthly meeting. The event is set for Friday at 1 noon in October at Bettys Colonial Restaurant on Ban Street in Frederick.
MENTIONED IN THIS ARTICLE
Edward F. Thomas
Frederick Washington
Frederick County
Frederick Asso
City Hall
George Koeck
West Promotions
Maryland taxes forum set by CPA group in Lanham
A one day forum on Maryland taxes including property and sales taxes will be held by the Maryland Association of Certified Public Accountants at the Ramada Inn Lanham October 24. The forum open to certified public accountants is sponsored by the association's Committee on State Taxation and offers eight hours of continuing professional education credit. Speakers include Benjamin L Cardin Robert A Rombro Julian L Jacobs and Neal D Borden Baltimore attorneys. Early Days In the early days of American brewing it was said that a brewer's success was determined by how far his draught horses could pull their beer wagons in a day's time.
MENTIONED IN THIS ARTICLE
Maryland
Maryland Association of Certified Public Accountants
Ramada Inn
Lanham
Certified Public Accountants
Association
Committee On
State Taxation
Benjamin L
Fed actions stoke recession fears and higher rates
Banks will charge top customers 15 percent interest as the Federal Reserve tightens credit. Economists Eckstein and Evans warn the policy may deepen or hasten a downturn with unemployment rising, while rates like the prime could hit 15 percent next month. The Fed raised the discount rate to 12 percent and signaled tighter credit, prompting expectations of immediate rate increases and tighter loan conditions.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Adthoos
Otto Eckstein
Data Resources Inc
Cambridge
Maas
Michael Evans
Evans Economics
Evans
Eckstein
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THE
Frederick
Dow Jones
Balt GE
Chessie
CocaCl
Exxon
Fairchild Ind Oh Fedders
MD Bae
Fiotkt
A&p
Gulf Oil Bs
Harris
Kmart M —" Litton Uu
Marriott Corp
Potom el
Safewy A Ag
Sears i —K
Standex
Texaco
Warner L
Gs Pal —H Whittak
Dons
Robert Booper
Baker, Watts & Co
Woo
John Coker
ATOZ
ENTAL
Mata
Giinos Restaurants
Thomas Romano
Gino's Inc
Col. Harland Sanders
Kentucky Fried Chicken Corp
National Foundation
March of Dimes
Mid-Atlantic
U.S
Cpas
Cardin
House of Delegates
Robert A. Rombro
Julian L Jacobs
Neal D. Borden
Baltimore
First General
Lean
Etropolitan Federal Savings and Loan Association
Bayngs
Bemles
Ately
Frederick Office
Grove Hill Road
Mount Airy Man
Wickes
Michael Shipley
Wicks Lumber Co
MD. 355
Frederick City
Shipley
Winmisaa Napa Muffiers
Naparly
Brunswick Auto Parts
W. Potomac
Brunswick Damascus Auto Parts
Ridge Rd
Damascus
Frederick Automotive
Bentz St. Frederick
Thurmont Auto Parts
Waters
Purcellville
NAPA
Ingram
Jefferson, Md
Bryan's
Gulf Station East
Frederick, Md
Nininger's Auto Center
Brunswick Mobil
Brunswick
Ind
Bussard
Freestate Automotive
Rosemont Gulf Sh
W. Patrick St
Awwernont Ava
Swe
America
Lovettsville
Paltiore Federal
Frederick Towne
Hagerstown
Valley Mall
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