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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 18, 1991
Page
21
A Harvard study says falling single family home prices won't ease rents or turn renters into owners. It cites shrinking low cost housing, lower renter incomes, and reduced multifamily building as afflictions for poor and moderate income households.
MNC Financial Inc. posted a 59 million third quarter loss or 70 cents per share, due to troubled real estate loans and higher foreclosed asset expenses. Analysts see little chance of profit this year as reserves rise and non-performing loans grow. The firm also noted nine months earnings of 12 million on 1991 net income and cited MBNA Corp. sale as a major driver. MNC, parent of Maryland National Bank and American Security Bank, dominates Maryland and Washington banking.
Bear Stearns posts first fiscal quarter profit of 46 cents a share on revenue of 333.2 million, up 38 percent from a year earlier as investment banking and underwriting activity strengthen. Legg Mason earns 51 cents per share on 68.7 million revenue, up from 41 cents and 64 million.
Patricia H Gaither, center, assistant branch officer at Farmers and Mechanics National Bank, was honored for 15 years of service by bank president Charles W Hoff Lil and Karen McClinton, branch manager, at the Farmers office.
Stocks of area interest are cited with quotations provided by Ferris, Baker Watts, Inc., Frederick office. The note lists notable price movements and closing values across key local equities.
The New York Stock Exchange saw a slight market decline as the Dow Jones Industrial Average fell 8.72 to 9,053.00 after Wednesday reached a closing peak. Volume reached about 202.79 million shares with more decliners than advancers, while major indices like the S P 500 and NASDAQ showed mixed results.
Historic inn in the mountains expands seating with a 70 person interior room and 50 more on the patio. The new space for weddings and celebrations features skylights and white wicker chairs, designed by Eleanor Lakin. No smoking area, year-round heating and air conditioning, and dining hours listed with accessibility and a contact number.
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