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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Apr 08, 1974
Page
7
New York Bankers Trust Co, the seventh largest U.S. commercial bank, announces a 10 percent prime lending rate, the highest since last year. The move follows a jump in short term funds costs, tied to a tighter policy by the Federal Reserve and stronger demand for business loans.
Voters say energy reliability matters most with 42 percent willing to accept shortfalls to avoid ecological damage. Many support staying on track for fuel, yet a notable share resist excessive pollution even for energy. In Paris, Mittou and Giscard declare campaigns as candidate lists form.
New York stocks faltered as Bankers Trust raised its prime lending rate to 10 percent, matching last year’s peak. The Dow fell 7.50 to 939.96, with declines leading and volume subdued. Standard Oil of California and gold stocks dominated activity as prices slipped.
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