Week in business high interest rates to stay
Record high rates loom as government anti inflation drive curbs lending. The bank prime rate has jumped 1.08 percent since last December, the Fed discount rate rose to 8.5 percent, and economists foresee continued restraint with a painful period ahead. Public debt offerings have been canceled or delayed, while May housing starts fell and factory output rose less than expected. Personal income reached a May record of 725 billion, with first quarter profits dipping 4.9 cents per dollar of sales.
MENTIONED IN THIS ARTICLE
Jack Lesler
New York (Ap
Bank
Federal Reserve Board
Thomas A. Waage
Federal Reserve Bank of New York
Federal Reserve
New York Society of Security
Kei
Waage
Wange
Paul W. Mc
Cracken
Council of Economic Advisers
American Bankers Association
Copenhagen
Commerce Department
Michael Sumichrast
National Association of Home Builders
Federal Board
Securities and Exchange Commission
Federal Trade Commission
Fifth straight week Market still tumbles
The stock market fell for the fifth straight week to a new yearly low amid tight money. Analysts cited high interest rates and policy persistence as the main drag, with some rally hope from bargain hunting and Nixon’s Vietnam remarks. Dow closed at 876.15, a new year low. S&P and NYSE indexes also slid.
MENTIONED IN THIS ARTICLE
Phil Thomas
New York
Larry Wachtel
Bache & Co
Richard Scruggs
Goodbody & Co
Vietnam
Wachtel
Dow Jones
New York Stock Exchange
Nixon
Sit
Dow
Associated Press
New York Exchange
Soybean prices advance amid mixed grain futures week
Prices for soybeans rose slightly while wheat led declines in Chicago trade. July futures moved forward as overall grain markets firmed late in the week, with soybeans ending largely higher in nearby contracts despite weak oil and mixed corn action.
MENTIONED IN THIS ARTICLE
Paul
Driscoll
Chicago
Chicago Board of Trade
Savage Hatchery Becomes Savage Feed and Grocery
Mr and Mrs W Everett Dallas and Mary Gillespie purchase the Savage Hatchery and Feed Store at 209 Ed Union St Marion. The name changes to Savage Feed and Grocery offering canned goods groceries and feeds with chicks to be sold during the hatching season. Dallas has two years at the store and Gillespie thirty two years of employment. The purchase is by the Frankfort based Missavage heirs following the death of proprietor John Missavage in May.
MENTIONED IN THIS ARTICLE
W. Everett Dallas
Mary Gillespie
Savage Hatchery and
Union St
Marion
Savage Feed and Grocery
Dallas
Miss Gillespie Ha Zen
Hey
Ramie Heirs
John Missavage
Ess Frankfort
Livestock Market Prices Hold Steady This Week
Trading at the Due Quain livestock market showed steady sales with prices matching the prior week. Top hog closing price reported at 25.25 dollars and sows at 21 dollars.
Weekly bonds rise as corporate issues gain and taxes loom
The past week saw little stress from mid-June tax timing as corporate and municipal bond prices rose while governments declined. New corporate issues improved though investor interest remained light, with the June calendar at 1.2 billion and July at 750 million, aided by a strong utility offering.
MENTIONED IN THIS ARTICLE
Lisa Cronin
New York (Ap
Salomon Bros. & Hatmer
Treasury
Life Insurance Estate taxes studied
Estate tax planning under insurance ownership is reviewed by Elizabeth M. Fowler. The piece explains that life policies owned by wives can still be included in husbands estates, cites IRS positions and court cases, and outlines strategies like marital deduction, exemptions, and shifting premiums to the wife to reduce potential tax impact.
MENTIONED IN THIS ARTICLE
Elizabeth M. Fowler
N.Y. Times News Service
Internal Revenue Service
Federel District
Texas
Calher
IRS
Gorman
Husband Furniture Securities
ICI acquires Seay & Thomas Chicago real estate firm
Illinois Central Industries acquires the Chicago real estate and development firm Seay & Thomas through a stock exchange. ICI and subsidiaries now hold more than 300 million dollars in estimated development value with properties mainly in the Chicago area. Seay & Thomas engages in management leasing sale mortgage financing and land development across all property types.
MENTIONED IN THIS ARTICLE
Ilinois Central Industries
ICI
Chicago
Seay &Thomas
Seay & Thomas
Chicago Area
Also Mentioned on This Page
Bvt BK
Jasond
Meriny
Bia
Arkansas Vallay
Big Horn
Powder River
Pany
B. Schaefer
Farnham
South Minis Carbondale
N. Market
Marien Phona
Witneis Savings and Loan Association
Murphysboro
I. M. Simon & Co
Charles J, Lerner
Charles. Dohanich
West Main Street
Carbondale
Thinois
Goreville, Illinois
Goreville State Bank
Goreville
Ain
R. H. & S. Steel Suppliers, Inc
AWD Erectone
Dstler
Hllinoys
Booey
Nemach
Formica Dinette
Stein
Park Herrin
Edt
Hiel
Elcome Ue
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