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Newspaper
Register Herald
Location
Beckley, West Virginia, United States of America
Date
Jul 03, 1998
Page
8
New York AP reports stocks declined moderately Thursday as unemployment rose to 4.5 percent, adding to fears of corporate profit squeeze from Asia's financial crisis. Dow fell 23.41 to 9025.26, while tech weakness andprofit-taking weighed, despite an 80 point weekly Dow gain.
Composite volume totals show 613,080,720 for the period and the 1997 average volume cited as 630,215,250. The figures indicate a consistent traffic or production measure, with the 1997 average slightly higher than the observed total.
Coal Ventures Inc a subsidiary of Addington Enterprises Inc completed the $93 million purchase of 11 mines in West Virginia and three other states from Cyprus Amax Coal Co. The deal includes Mountain Coals in Kentucky Kanawha and Cannelton in West Virginia Chinook and Sycamore in Indiana and Skyline in Tennessee. The properties produced 16 million tons of coal in 1997 and generated about 430 million in revenue last year. Coal Ventures assumed about 130 million in debt plus pension and reclamation costs and about 200 million in additional assets. Bauman said Cyprus Amax will receive tax benefits royalties and equipment payments.
A long OCR led list from the New York Stock Exchange presents closing prices, daily highs and lows, and a dense array of stock names, values, and percentages. The snippet references July 1 1998 data with many company names such as PepsiCo, Texaco, WalMart, Xerox, and more, amid scattered price figures and percent changes.
Russia moves to seize Gazprom assets over 750 million dollars in monthly taxes and 400 million in back taxes, prompting opposition claims the measure could fracture the state’s gas monopoly. Prime Minister Kiriyenko vows to defend Gazprom while pledging state oversight and continued tax collection as the economy faces cash crunch and ruble weakness.
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