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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Oct 26, 1991
Page
8
Area stocks interest notes by Ferris, Baker Watts Inc Frederick office providing quotations and market commentary for local securities.
New York stocks slipped Friday with the Dow Jones Industrial Average down 11.40 to 3,004.92, extending a weekly decline of 72.23 points after a prior week in which the index rose to a record high. Declines led advances about 7 to 5 on the NYSE. volume was about 167.26 million shares. Major indices including the S and P 500 at 384.20 and the Nasdaq Composite at 525.13 showed losses, while the Wilshire and AMEX indices also fell. In Tokyo, prices edged lower as the Nikkei average dropped 2.1 points, ending the week at 4.
Mid Atlantic Bankcorp announces net income of 2.17 million dollars for the first nine months, equating to 1.50 dollars per share. The results show a 16.9 percent increase in income and a rise of 21 cents per share.
Noland Co. reports net income of 182000 dollars for the third quarter, equal to 5 cents per share, down from 762000 dollars or 20 cents per share in the same period last year.
A new La Petite Academy child care center has opened at 2150 Old Fara Drive near Yellow Springs Pike in Frederick. It offers premium education and care for ages 2 to 12, with transportation, flexible hours around 6:30 a.m. to 6:30 p.m., state licensing, and a qualified staff. The center will host a Halloween carnival 7:30 to 9 p.m. Tuesday Oct 29 to benefit the Children’s Miracle Network with a $2 family entry, rummage sale, bake sale, face painting, games, hot dogs and drinks. call 694-2322 for details.
Washington AP report says auditors cannot determine the RTC bailout’s 1990 financial statements due to market uncertainties and weak internal controls. GAO warns significant uncertainties in cost estimates and limited reliability of asset values, prompting anticipation of an $80 billion funding request through October 1993 and potential conditions for more aid.
Edwin Bale, newly appointed Baltimore Bancorp chairman, said legacy management ignored trouble in the real estate loan portfolio. Third quarter loss totaled $3.14 per share on $40 million, with $0.09 quarterly dividend cut. Reserve additions lifted loan-loss reserves to $72 million, about 3.1 percent of total loans. Bale pledged aggressive action to work out troubled projects.
Bethlehem Steel wins a 60 million contract to fabricate 12 steel tunnel sections at Sparrows Point for the Boston Harbor four lane interstate tunnel. The job will sustain 500 to 600 union shipbuilders and 18 months of work for several hundred chipbuilders amid layoffs.
Westminster Woodsborg Frederick markets report varied prices for cattle, veal, calves, hogs, lambs, and goats. Utility and high dressing cows fetch 47.00 to 99.60, steers and heifers show broad ranges, dairy replacements and stock cattle noted with prices, while hogs and lambs list per unit and per head values across districts amid October sales and weekly totals.
Willowdale Auction Co reports hay and firewood prices from two sales. Alfalfa, timothy, and mix hay show varied per load and per ton prices with several loads sold. Firewood oak fetches per-ton prices, while bromegrass and mixed lots appear with smaller quantities and miscellaneous lot details.
Chanticleer Dancing Shoes has operated for over 25 years with stores in Frederick Towne Mall Gaithersburg Square and Briggs Chaney Plaza Silver Spring. Mike Jones president says staff are trained in proper dance footwear fitting assisted by sister Susan Jones Regisseur of American Ballet Theater and a training video. Chanticleer offers Capezio shoes leotards tights and accessories. The Mid Maryland Chapter Maryland Association of CPAs meets Nov 6 at the Frederick Holiday Inn with 301 296-6250 for details. FB T Corp Hanover PA reports net income of 4.5 million or 2.15 per share for the first nine months 1991 vs 1990 figures.
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