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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Sep 19, 1987
Page
4
New York stock market drifted lower in a quiet session as the Dow fell 3.26 to 2,524.64 marking the week’s largest point drop. NYSE volume reached 188.07 million shares amid mixed index futures activity and staggered settlements.
The Commerce Department reports the U.S. economy expanded 2.5 percent in spring, led by a 17.8 percent surge in exports and an 11.7 percent jump in business investment. The upward revision from 2.3 percent also tightens inflation to 4.1 percent, aiding Reagan policies to boost competitiveness abroad.
The Delaware Supreme Court ruled that a foreign country’s corporate law governs a subsidiary’s right to vote its 10 percent stake in the parent, reversing a Chancery Court decision. The case concerns McDermott Inc. and McDermott International Inc. and discusses the internal affairs doctrine.
Frederick market listings show cattle and hogs with varied grades and steady to higher bids. butcher cows, bulls, steers, heifers, veal calves, and stock cattle priced across Good to Medium ranges. Woodsboro sales list similar cattle with Holstein returns, veal, hogs, lambs, fowl, and small animals, reflecting steady demand and price dispersion.
Maryland Sixth District Representative Beverly Byron told the Cumberland Valley ABC crowd at the Sheraton Frederick that labor issues like Davis Bacon and occupational hazard bills provoke strong reactions while she generally supports the industry. She urged reform of Davis Bacon to save taxpayers on military and highway projects and noted concerns about radon and worker safety measures. She emphasized balancing employment goals with industry needs and described her vote against wartime reparations to Japanese Americans as fiscally imprudent amid rising deficits. The meeting also heard from representatives of West Virginia and discussed workers compensation costs and future legislative pressures.
Thurmont welcomes a new child care facility on Pryor Road operated by Kathy Toomey Foster. An open house is set for Sunday 1 to 4 p m. The center serves ages 2 to 12 with eight currently enrolled and licensed for up to 45. For information call 271 3454.
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