Bank and Securities Firm Clash Over Interest Payment
Drysdale Government Securities Inc announced it could not pay $160 million in accrued interest due on securities borrowed from about 30 brokerages. Chase Manhattan Bank, as intermediary, denies liability, while lenders threaten suits. The Fed in New York offered lender support as dealers face market stress and several firms are named as creditors.
MENTIONED IN THIS ARTICLE
New York
Chase Manhattan Bank
Seitel
Chase
Drysdale
Drysdale Government Securities
Federal Reserve Bank of New York
Dow Jones
Goldman, Sachs & Co
Drexel Burnham Lambert Group Inc
Paine Webber Inc
Merrill Lynch & Co
New York Hanseatic
Chase Manhattan
New York Stock Exchange
ERA Hunger Strike Begins to Ratify Equal Rights Amendment
Seven women from five states led by Sonia Johnson begin a fast in Illinois to press for ERA ratification by June 30. They vow a 44 day hunger strike if the deadline passes, urging governors and lawmakers to act while calling for nationwide Wednesday fasts and white ribbons.
MENTIONED IN THIS ARTICLE
Springfield
Ilinois
Sonia Johnson
Idaho
U S. Supreme Court
Wall Street Advances Amid Mixed Midday Trading Factors
Stocks edged higher at midday as gains in aerospace, retail, and electronics offset declines in financials and several drug issues. The Dow rose about 171 points after a week of losses, with 54 more decliners than advancers on the NYSE. volume was light but trading activity remained uneven across sectors.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Chase Manhatter
NY Comppusle Indeen
GARG
Amercan Stock Exchange
Iide
Union Gas Seeks 756000 Rate Increase in Kansas
At a Kansas Corporation Commission hearing in Topeka Union Gas Co of Independence asks for a 756000 increase in natural gas rates. If approved residential customers using 16000 cubic feet would pay about 98 cents more monthly, boosting annual revenue by 2.4 percent. Union Gas serves about 50100 people across 16 eastern Kansas counties including Johnson Douglas Wyandotte Leavenworth Montgomery Wilson Woodson Coffey. Public hearing in Olathe planned. decision weeks away.
MENTIONED IN THIS ARTICLE
Topeka
Kan
AP Hearmos
Kansas Corporation Commission
Union Gas Co
Independence
Union Gas
Kansas
Johnson, Douglas
Wyandotte
Leavenworth
Montgomery
Wilson
Woodson
Coffey
Coffeyville
Burlington
Olathe
Fredonia
Yates Center
Also Mentioned on This Page
Bank
Drydale
Setel
Wall Street
Johnson
Church of Jesus Christ of Latter-day
Susan Catania
Chicago
Chieflinois House
Springfield Methodist Church
Maureen Fiedler
Mount Ranier
Zoe Ann Ananda
Newport Beach
Calif
Dina Bachelor
Los Angeles
Mary Barnes
Raleigh
N.C
Sheldon
H.P. Tractor
Holland
Iic
Ottawa Herald
Wang Plus
So. Hwy
Ottawa
Sun
Patton
School House
AE Ay
Wal-Mart
Pecan Ua
Eto
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