United Brands bribes linked to Italians
United Brands accused of arranging 2.5 million in payoffs to Honduran officials and 750,001 to Italian officials. An SEC suit in Washington cites a Swiss bank account. a later payment of 1.25 million was not authorized. The Wall Street Journal notes investigators dispute the overall conclusions, while Honduran officials deny accepting the funds.
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Stock market gains push Dow above 775 in midday trading
New York AP reports broad market gains as the Dow Jones industrial average climbs over 7 points to 775.04 at noon. IBM rose after an earnings report, Burroughs gained, and the NYSE composite index and volume leaders showed strong activity amid profit-taking and anticipation of results.
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