Cosmos Bank faces moratorium amid ties to controversial firms
Cosmos Bank of Zurich seeks a one year moratorium as it blames exchange obstacles for losses. The bank denies speculative forex dealings, asserts solvency, and cites links to Equity Funding, Westec, US Financial, ATO and Bally ties, Resorts International, and Pan Am amid a broader web of scandals and related finance actions.
MENTIONED IN THIS ARTICLE
Donald C. Bauder
Copley
United States
Cosmos Bank A.G
Zurich
Switzerland
Zurich Commercial Court
Cosmos
Franklin National Bank
New York Ae
Michele Sinona
Lugano
Lloyds Bank of London
Westec
Texarkana
Tex
US. Financial, Inc
A-T-O, Inc
Bally Corp
Chicago
Stirling Homex Corp
Cosmos Bank
Resorts International
Bahamas
Pan Am
Paradise Island
William G
Mixedlarge Nasdaq style NYSE quotes show broad stock activity
The New York Stock Exchange listings include numerous companies with varied last prices and percentage changes. Names like CocaCola, IBM, Exxon, and Amoco appear among many industrials, techs, and consumer stocks with fluctuating gains and losses.
Economic indicators slip but third quarter GNP shows uptick
UPI reports Manufacturers Hanover Trust says August indicators fell 1.2 percent yet real gross national product likely rose in the third quarter after two declines. The uptick mainly reflects purchase of 1974 model cars as a hedge against higher 1975 models, risking another dip in real GNP in Q4. Classified ads urged to boost TV sales.
MENTIONED IN THIS ARTICLE
New York
UPI
Hanover Trust
Commodity Closing Prices Report
The daily closing quotations show London gold at 159 dollars up 3.35, Oct silver 5.02 up 0.15, Jan platinum 202.50 up 1, copper 0.63 up 0.06, Dec wheat 5.2444 up 0.08, Dec corn 3.9375 down 0.014, Nov soybeans 9.49 up 0.13. Live cattle 41.92 up 0.77, Oct live hogs 38.55 down 0.15, Dec fresh eggs 0.6770 down 0.0105, Feb pork bellies 69.17 up 0.77, May Maine potatoes 7.30 down 0.10, Dec cotton 0.5140 down 0.92, plywood 93.40 down 1.30 per thousand sq ft.
MENTIONED IN THIS ARTICLE
New York
UPI
New York Stock Exchange
McCroy
Cyprus
Dayco
Merck
Ye Deere
AlliedCh
Dennisn
Diebold
Mohsco
Vo Amax
Disney W
Monogram
Yo Am Airlines
Peppr
DomeMn
Morrsk
AmBrest
DowCh
Motorola
Dresser
Duke P
WiStTe
Ye DuPont
MurpCo
Va AmHolst
Nabisco
BascoCo
NatAirin
NatSteel
Ncrcp
Amt&t
Emer el
Ametek
Esmark
NingMo 118
Js. Ex Cellov
NL Indust
Amstar
Exxon
Norfolk
Apeco Corp
Faberge
Fairmif
Auricht
Va Farah Mig
Occid Petri
Atlas Corp
Firstne
Ye Ogdencp
Va Avco Corp
Ohio
Avnetine
A Gabewni
Meee Burr
Isia
Gam Sk
Yu PacPetr
BoiseCas
Gannett
Vo Borden
Borg
Gen Dynam
Pan Amair
Panhandle
Wwbourns Inc
GnFood
Ya Penn
Vo Braniff
Penney
Brigss
Gn Steelind
Bulovaw
Bim
Phhgel
Bunkerr
Gerber Pd
PhilipMo
Burl
Getty
PhilPet
Gillette
Pillsbry
Burrghs
Global Mar
Pitney B
Pascoll
CaterTr
PSEBG
CBS
Pullman Wa
PurexGp
CentTel
Gt West UN
Va Purolatr
CerroCorp
Gramia
Q— Cerra Td
Vo. Gryhd
QuakOat
Va Cessna
Champion
GulfOl
Ralston
Yu Raython
RCA Corp
Krk$h
Chris Craft
Harrahs
RepbSth
Chrysir
Hercules
Riviana
Hershey
Robshaw
Heublein
RochGl
Col Gas
Royal CC
Ye Howards
StRegis
Sander Asso
Schering
INA
Sears Lédail
Contra
Sierra Pc
SigniCo
InspCop
Hy SimnsCo
IBM Corp
Singerc
Va Smithkinne
Va SouthCo
Sonres
T&t
Hm SoPacif
Wek Corprin
JohnMy
dohn&Jn
JonLogn
Me Jones
StdOvid
Josiens
Shonon
Joy Mfg
Sterlorg
Léie
Steven
Kaiser Alu
Kcsoln
Sunshine
Ken GE
SupOll
Tandy Corp
Velle
Kayserr
Teledyne Ti
Kencott
Kidde W
Kim Ci
KLM
Knight
Me Kresge
Thiokol
Kroger
AMO
Timlin
LearSleg
TraneCo
Transom
Lehm I.ldd
TwCex Id
Lockheed
U Ui
LoewCp
Vyalinc
LTV Corp
Ye Unocal
MacMill
UnCorp
Wy Macy
Wie US
Gyp Ldo
We MA
WY US Indus
Magnyth
US Steel
Te & “Raa
S Tob
Met Oil
Marceline
Madda Trading ‘Company Inc
Chicago Mercantile Exchange
London
Maine
Bank of Scottsdale Names Two Officers In New Bank
The Bank of Scottsdale announced the election of Michael D. Foster as senior vice president and Ann van der Ven as cashier and corporate secretary. Foster, previously with United Bank of Arizona, has deep Scottsdale ties and civic involvement. Van der Ven, a Memphis native, brings 15 years in banking and Holland experience. Ground broken for a new branch at 4111 N Scottsdale Rd, with completion by December and opening planned mid month.
MENTIONED IN THIS ARTICLE
Bank of Scottsdale
Michael D. Foster
Ann van der Ven
Foster
United Bank of Arizona
Scottsdale
ASU Offers Seminars on Occupational Safety for Managers
The Arizona State University Center for Executive Development announces day and evening seminars for managers responsible for safety and health. Topics include the OSHA Act of 1970, 1974 amendments, OSHA operations in Arizona, and the Arizona Industrial Commission. Leaders include former Gov. Howard Pyle and Roy Grebes. Evening sessions run 6:30 to 9 p.m. on Tuesdays from Oct 29 to Nov 26. day sessions 8 a.m. to 4:30 p.m. Dec 9 and 10. Registration is $50, with enrollment now open. call 965-3441 for details.
MENTIONED IN THIS ARTICLE
Arizona State University Center For
Occupational Safety and Health Administration
OSHA
U.S. Department of Labor
Arizona
Department of Occupational Safety and Health
Industrial Commission of Arizona
Howard Pyle
National Advisory Committee For Occupational Safety and Health
Roy Grebles
Division of Occupational Safety and Health
Two Top Banks Cut Prime Rate Ahead of Citibank Move
Bank of America and First National City Bank reduced their prime rate from 12 to 11 percent effective Monday, aligning with Mercantile Trust of St Louis and other banks. Citibank raised its internal base rate by widening its spread over the 90 day paper rate, citing money market conditions and restraint.
MENTIONED IN THIS ARTICLE
United Press International Bank of America of
San Francisco
First National City Bank of
Citibank
Bank of America
Mercantile ‘Trust of
St. Louis
Federal Reserve Bank
Wall Street Averages Move Mixed at 3:30 PM
At 3:30 p.m. Dow Jones averages show mixed results with 30 industrials down 1.56 to 586.05, 20 transports up 2.17 to 128.10, 15 utilities up 0.64 to 61.54, and overall stocks up 0.82 to 185.06.
MENTIONED IN THIS ARTICLE
Dow Jones
Indus
Stocks on American Exchange show mixed gains and losses
New York API market summary lists numerous issues with varied moves. Petroleum stock Petro leads small gains while Creole P and Frontier Oil show modest percentages. several names post declines or flat trades amid broad activity on the American Stock Exchange.
MENTIONED IN THIS ARTICLE
NEW York
API
American Stock Exchange
Petro
Cal Comptr
Carnain
Crw CP
Dixlyn Corp
Dome Petro
Felmat
E— Fischer Pt Si
Fordc
Frontier al
Husky
Lee Ent
Lee NanCp
Metallch
Sambos
SoundCp
Sam Ve Stp Cp
Alahidsho
H Vinoa Incor
Wyo Bae
A ‘ Yates Indus
Publishing firm to start market here in Scottsdale
Scottsdale to host Pay Day Press a national direct response book publisher with headquarters here It will market books by mail order to a national market and print in the Southwest It lists David L Markstein as stockholder and notes plans for limited partnerships with investor liability limited to investment amounts.
MENTIONED IN THIS ARTICLE
Scottsdale
Pay Day Press
Arizona
Payday Press, Inc
David L. Markstein
Stock rally offsets less Wall Street drift
New York shares remained weak as prime rate cuts by two major banks did not lift market sentiment. The Dow fell below 600 for the first time in roughly 12 years, slipping to 577.52 by noon while the prior session closed at 587.61 with more declines than advances.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
New York Stock Exchange
Market Wrap Reports Grain Rally From Frost Losses
Ed Mahurin notes grains rise amid frost damage in soybean and corn belts. Corn and soy futures hit daily limits Monday, with momentum driven by export talk and unseasonably low growing conditions. Livestock follow with pork belly hog and cattle gains, while dressed beef climbs on strong grain prices. Gold and silver move upward on gold for oil talk and grain strength, copper drifts lower on weak demand.
MENTIONED IN THIS ARTICLE
Ed Mahurin
Madda Trading Company, Inc
Scottsdale
Midwest
Greenspan to address Tucson conference on Oct 25
Alan Greenspan will headline the fall conference of the Arizona Association for Industrial Development in Tucson at 3 p.m. on October 25. Other speakers include Michael K. Glenn of the EPA and Edward Whalen of Oregon's Department of Economic Development.
MENTIONED IN THIS ARTICLE
Alan Greenspan
Council of Economic Advisors
Arizona Association For Industrial Development
AAID
David Richmond
Michael K. Glenn
Environmental Protection Agency
Washington, D.C
Edward Whalen
Oregon Department of Economic Development
Howard Roepke
University of Ilinois
Greenspan
Also Mentioned on This Page
Zurich Bank
Ulahit
Ulahpl
UV Indust
Varian
VendoCo
Va Vetco
Victorcc
VaElec
Va Whittake Cp
Wickes Cpl
WinnDx
Va Woolwh
Xerox Cp
Zale Corp
Ve Zayre Corp
Zenithr
Zurn Ind
Wall Street Charter
van der Ven
ASU
American Exchange
Patiis
N. Browns
Tucson
Robert G. MacDonald
International Monetary ¥ Exchange, Ltd
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