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Newspaper
Ottawa Herald
Location
Ottawa, Kansas, United States of America
Date
Jun 17, 1989
Page
7
The Dow rose 27 points to end at 2,486.38 as volume surged to 244.51 million shares, the heaviest in five months. Traders largely ignored CPI and housing data as futures expirations drove activity, with 811 stocks up and 626 down on the NYSE.
Oil futures slipped on NYMEX as crude supply signs improve and rumors of an OPEC production ceiling rise by one million barrels per day in September surface. Gold and silver edged lower after prior gains while grains showed mixed moves in Chicago and Midland livestock prices posted varied results across cattle hogs and lamb markets.
Time Inc announced a potential 70 dollar share tender offer for Warner instead of a stock swap, jolting trading with over 8.2 million Warner shares changing hands and a 3 percent rise to 59 1/2. Paramount avoided a $175 bid as its stock slipped. MCA rose slightly on takeover chatter. Eastman Kodak fell amid job cuts. Robins stock rose after a court approved its bankruptcy plan. Overall market volume was strong with mixed sector moves and major indices up modestly.
Wichita State University professor Ralph Estes surveyed 1,360 stockholders analysts and investors to find that women show substantially less confidence in investment decisions than men. He notes this does not imply poorer decisions, but confidence levels affect portfolio actions.
Estes, a 53 year old professor at Washington State University, reports that general business people and investors show higher confidence than individual stock holders, with women facing added cultural conditioning. He warns Wall Street loses talent due to female confidence gaps and urges society to rethink how careers are presented to girls.
Terrence Harrison, 24, of Ottawa, was sentenced in Franklin County District Court to 10 to 30 years for aggravated robbery and kidnapping, with sentences running concurrently. He was credited 121 days in jail and ordered to pay $119 in costs. A co defendant, Tony Bynum, later pleaded guilty to aiding and abetting assault and received five years probation.
A thief damaged a lock and took about 950 feet of ¾ inch electrical wire weighing around 1,200 pounds from a semi-trailer parked six miles north of Pomona. Loss $5,000 with $7,000 in damage, reported Friday.
Franklin County Sheriff's deputies ruled an electrical overload in a water heater caused a Friday fire that destroyed a house used as storage about four miles northwest of Rantoul. Owner Norman L. Todd insured property valued at 25 000 to 30 000 dollars. Cristy Leadbetter discovered the blaze about 1 30 a m as dogs barked. Deputies said the fire department protected a nearby mobile home, garage and shed from sparks. Contents including Todd's furniture and appliances and Leadbetter's clothing were destroyed.
Two inmates from Atchison were missing after escaping from Osawatomie Correctional Facility late Thursday. Ronnie Johnston, 40, and Allett Merritt, 25, allegedly slipped through a first floor recreation room window. Johnston, serving two to ten years for false writings in Nemaha and Brown counties, Merritt, one to five years for theft in Douglas County, were not believed armed. Osawatomie lies in Miami County.
Community Revival Center Church introduces a summer worship timetable with no Sunday School, resuming fall services. Sunday morning 10am worship and children's church, 10am. Sunday evening 6:30pm. Tuesday 10am worship. Thursday 7:30pm worship. youth fellowships Thursday 7:30pm. Come share the gospel.
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