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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Aug 12, 1983
Page
16
The Investment Company Institute reports assets of 310 money market mutual funds grew by 503 million to 165.4 billion in the week ended Wednesday, the second weekly gain since December after three straight declines. The rise follows earlier drains to money market deposit accounts and stock market strength.
The rates to customers may vary from bank to bank. Customer rates listed here are approximate.
The Milk Producers Security Fund total due on about 350 claims climbed to 5.1 million as Glen Mohawk Milk Association failed to pay farmers for May and June deliveries to Fultonville. A three hour Albany hearing involved more than 60 farmers and cooperatives seeking reimbursement, with challenges and offsets possible.
Oneida Ltd agrees to sell its Rena-Ware Distributors Inc. unit to Otto W. Zylstra for about 30.1 million in cash and securities. The deal includes 33,333 Oneida shares valued at 16.875 million and 6.738 million in notes plus 1 million cash and 5.5 million in a 4 1 4 percent promissory note. Pending shareholder and lender approvals, the sale targets completion by November 30, 1983, reflecting Rena-Ware’s past losses and weak consumer sentiment affecting the division.
Mark Goldstein, a former Army mountain trooper, built Tough Traveler in Schenectady starting 1972 from a small shop. The company now employs about 70 with a four year warranty and a national reach for camera bags and luggage.
In New York City's garment district a water main rupture cut power to a 13 block area delaying the women's and children's spring market shows. Buyers from major lines like Lin Claiborne face postponed orders as power crews work to replace transformers, with market reopening and order deadlines shifting into November and December.
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