Economy news boosts markets as inflation eases
The Associated Press reports July inflation at 7.3 percent, half the rate of prior months, fueling a Wall Street rally with the Dow rising 21.88 to 891.17 on strong volume. Gold prices jump globally as rates fall, with gold trading above 400 an ounce in New York and in London fixing at 411.50.
MENTIONED IN THIS ARTICLE
Associated Press
Wall Street
Europe
Labor Department
Treasury
New York Commodity Exchange
London
Mortgage rates fall as FNMA lowers minimum on new loans
The Federal National Mortgage Association announces a reduction in minimum interest on new Seam loans. FHA and VA also cut guaranteed conventional mortgage rates from 15 to 14 percent. FNMA chief Maxwell says adjustable rates after six months to one year drop to 12.9 percent, boosting borrower affordability.
MENTIONED IN THIS ARTICLE
Washington
Federal National Mortgage Association
Federal Housing Administration and Veterans Administration
FNMA
David Maxwell
Maxwell
Westside desegregation boycott canceled over violence fears
Elizabeth Simpson reports that a Westside parents group and allies canceled a planned boycott of school district desegregation, citing fears of violent disruption. About 130 residents gathered at Crockett Junior High to discuss busing, appeals, and representation, urging families to transport children to their chosen schools.
MENTIONED IN THIS ARTICLE
Elizabeth Simpson
Westside
Siemans
Geenamate Peas
Southside
Crockett Junior High
Kelly Dickson
Parents For Quality Neighborhood
Dickson
County approves record budget in 24.6 million plan
Ector County Commissioners Court approved a record 24.6 million operating budget for 1981-82, a 22.6 percent rise, with a 3-2 vote. The tax rate was raised 4 cents to 34 cents, cited mainly for law enforcement needs. Sheriff and jail budgets saw substantial increases, while some officials favored broader salary rollbacks.
MENTIONED IN THIS ARTICLE
Elizabeth Simpson
Ector County Commissioners Court
Gary Watkins
Precinct
Willie Hammond
Bill Hicks
Julian Pressly
David Childers
Pressly
Childers
Watkins
Texas Comptroller cites record 1.3B surplus for next year
Texas faces a record 1.3 billion dollar unspent balance when books close next year, a figure hailed by officials yet criticized by critics who warn surpluses foster waste and tax burdens. They argue lawmakers spend excess funds and justify tax cuts, risking taxpayer costs when boom ends.
MENTIONED IN THIS ARTICLE
George Kuempel
Dallas Morning News
Austin
Bob Bullock
Texas
Waggoner Carr
Carr
Texas 13 Inc
Bonanza
U.S. and France clash over embargo as Dresser defies aid ban
Washington officials weigh options after France orders Dresser France to load rotor parts for shipment to the Soviet Union for a 3600 barge. Dresser Industries seeks court blocking of Baldrige actions while the United States vows to enforce the embargo amid a murky crisis with Paris.
MENTIONED IN THIS ARTICLE
Washington
U.S
France
Reagan
Europe
George P
White House
Dresser France
Dresser Industries Inc
Dallas
Soviet Union
Dresser Industries
Commerce
Malcolm Baldrige
le Havre
Dresser
Justice Department
Art Brill
Also Mentioned on This Page
MORTG
GES
Arthur Dix
West Odessa
Laura Clark
Houston
Mike McSpadden
Clark
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