CFTC Moves to Halt Commodity Options Trading Amid Scams
The Commodities Futures Trading Commission proposed suspending commodities options trading to curb losses by small investors amid a surge of complaints. The drive follows charges against Lloyd Carr & Co and its leader James A. Carr, later identified as Alan Abrahams, an escaped convict. Authorities shut the Florida operation after a Michigan suit.
MENTIONED IN THIS ARTICLE
Kristin Goff
New York (Ap
Commodities Futures Trading Commission
Lloyd Carr & Co
CFTC
Commis
Sion
William Monahan
Monahan
U.S
London
Commission
Lloyd Carr
James A. Carr
FBI
New Jersey
Alan Abrahams
Carr
Florida
Michigan
Blizzard offsets bearish grain futures with winter blizzard
Grain futures drifted with only small moves on the Chicago Board of Trade as bearish government reports were tempered by a Midwest blizzard. Soybeans rose about four cents, corn edged up or down in different contracts, and wheat fell. The Agriculture Department lowered planting expectations while harvests set record levels, shaping cautious trade ahead.
MENTIONED IN THIS ARTICLE
Cheryl Debes
Chicago (Ap
Midwest
Chicago Board of Trade
Agriculture Department
Market Slump Deepens Amid Dollar Uncertainty
The stock market remains weak as doubts about the dollar linger. December trade balance figures due Monday are expected to show more red ink, with analysts questioning recent government steps to bolster the dollar and curb foreign exchange pressures.
MENTIONED IN THIS ARTICLE
Chet Carrier
NEW York
U.S
Marshall Acuff
Smith Barney, Harris Upham & Co
Acuff
Washington
Federal Reserve
Great Plains wind erosion climbs with Texas lead in damage
The USDA Soil Conservation Service reports Great Plains wind erosion rising to 1,430,156 acres damaged through December 31, concentrated mainly in the southern states. Texas accounted for 920,200 acres, about 64 percent of the regional total, with earlier season damage heavier in the north last year. Over the full 1976-78 season about eight million acres were harmed, the most since 1956-57.
MENTIONED IN THIS ARTICLE
Don Kendall
Washington
Great Plains
Agriculture Department
Department
Soil Conservation Service
Texas
Montana
Florida
California
United States
Seventeen firms paid no net federal income tax in 1976
Seventeen large U.S. corporations paid no net federal income tax in 1976 and about 150 others faced an average rate of 13.4 percent, according to Rep. Charles A. Vanik. The Ohio Democrat notes a 22 percent rate in 1972 and discusses Carter administration tax-cut proposals that could exempt nearly a third of major corporations. Firms listed include U.S. Steel, Bethlehem Steel, LTV, Armco, National Steel, General Dynamics, Republic Steel, Singer, Phelps Dodge, Texas Gulf, American Airlines, Eastern Airlines, Pan American, Southern Co., Pacific Gas & Electric, Philadelphia Electric, and Chase Manhattan. Aides say all 17 were profitable worldwide that year.
MENTIONED IN THIS ARTICLE
Edmond le Breton
Associated Press
Washington
U.S
Charles A. Vanik
Ohio Democrat
House
Ways and Means
Vanik
Carter
Ways and Means Committee
America
U.S. Steel
Bethlehem Steel
LTV
Armco Steel
National Steel
General Dynamics
Republic Steel
Singer
Phelps Dodge
Texas Gulf
American Airlines
Eastern Airlines
Pan American World Airways
the Southern Co
Pacific Gas & Electric
Philadelphia Electric Co
Chase Manhattan Corp
Also Mentioned on This Page
DOW Jones
Blizzard
New York Stock Exchange
USDA
Son
Nebraska
North Dakota
South Dakota
Wyoming
Colorado
Kansas
New Mexico
Oklahoma
NEA. Inc Fiir Gyr
J. M. Simon & Co
West Main Carbondale
Sipc Securities Investors Protection Corporation
Life Insurannce CO
North America
Charles J. Lerner
Gayla M. Forby
John Uffelman
Curtis F. Downen
Our
Herrin
Casio’ New
CASIO
Brunner Office Supply CO
Illinois Ave
Carbondale
David Hoy
Hoy
Jim Pearl
Oldsmobile
East Walnut
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