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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 13, 1983
Page
22
Washington AP reports South Carolina seeks Supreme Court review of a new tax law on municipal bonds. The state challenges a 1982 federal rule requiring post June 30 issues to be registered before tax exemption. Justices will consider original jurisdiction but not decide merits yet.
The dollar firmed after U S M1 growth of 100 million reduced bets on tighter credit policy. Gold edged up with bullion houses signaling a morning price around 412 an ounce while currencies traded mixed in Tokyo London and Zurich.
Sawmills in East Texas report renewed activity as housing demand climbs. The Texas Forest Service notes lumber prices up 39 percent and plywood 19 percent since November, but employment in forest products lags. Experts warn sustained expansion requires more reforestation and a larger land base, with 70 000 to 80 000 acres per year needed.
AP Business Analyst discusses a shift in U S consumer habits as Reagan era emphasis on saving grows. The piece cites inflation fears and ad driven desire for larger assets, noting savings can increase real assets and outlining four cost saving principles for richer living on less.
New York stocks advance with dozens of companies shown in the latest market sheet. Prices and changes appear for CSX, Exxon, Gulf Oil, Dow and many others in a dense tableau of numbers and ratios reflecting daily trading activity.
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