Citibank Unveils Three New Second Mortgage Plans
Citibank announced three second mortgage plans as an aid to area residents buying homes including those sold by owners. Syracuse manager Michael Ottley outlined a basic plan for buyers who assume a mortgage and lack cash for the down payment, a reduced payment option, and a graduated payment plan with initial lower monthly costs. The programs are designed to fit diverse buying situations amid high prices and rates, offering up to 80 percent of the purchase price minus remaining first-mortgage balance in the basic plan.
MENTIONED IN THIS ARTICLE
Citibank
Michael Ottley
Syracuse
Upstate New York
New York City
Ottley
Bank and Finance Company
Dollar Dips as Gold Rises in Tokyo Markets
The dollar fell against major currencies while gold strengthened. London dealers fixed $337.75 per ounce, Zurich quoted $337.83, and Hong Kong closed gold at $338.86. Silver traded at $6.40 in London. HandY & Harman noted gold at $338.50 in New York. Saudi and British officials discussed losses tied to a money changer case. Bankème is set to pay settlements over currency transaction disputes.
MENTIONED IN THIS ARTICLE
Tokyo
Europe
London
Zurich
Hong Kong
New York
Handy & Harman
Delinquent Farm Loans Rise as Market Signs Point Up
Government figures show nearly one third of Farmers Home Administration loans delinquent for three years or longer. Money market funds rose to a record 220 billion dollars as assets gained 3.7 billion in the week to August 11. Chrysler Canada seeks U.S. approval to start a diesel engine venture in Windsor with Massey Ferguson. ruling due in two months. Treasury yields fell and Lombard-Wall bankruptcy news fed brisk demand for new corporate issues.
MENTIONED IN THIS ARTICLE
Farmers Home Administration
Govern
Ment
Chrysler Corp
United States
Canada
Chrysler Canada Ltd
Windsor
Ontario
Perkins Engines
Massey-Ferguson Ltd
U.S
Chrysler
Treasury Securities
Treasury
Lombard-Wall
Inventory Pileup Signals Economic Drag Across U S
Industrial inventories rose 0.3 percent in June to 512.01 billion as unsold goods stockpiled in warehouses and back lots. Business sales fell 1.3 percent to 344.45 billion while analysts warn of further cutbacks and weak capital spending amid lingering recession pressures.
MENTIONED IN THIS ARTICLE
Associated Press
Commerce Department
David Ernst
Evans Economics
Washington
Raymond Corp Faces Cuts as Orders Drop in North Upturn
Raymond Corp. and its Raymond Parts Division on Kirkville Road near East Syracuse cut about 145 jobs in two months as orders shrink. Sales for the Greene headquarters firm slipped, with second quarter revenues at 25 million and 18.9 million in orders, down 22 percent year over year. The Avon plant sees layoffs and Greene plant plans a temporary shutdown to curb inventory, while management warns further cutbacks may follow if demand stays weak. The company emphasizes a strong balance sheet and notes a 40 percent market share in narrow-aisle forklifts despite industry declines.
MENTIONED IN THIS ARTICLE
Jeff Platsky
Associated Press
George G. Raymond Jr
Raymond Corp
Robert Fox
Raymond
Kirkville Road
Syracuse
Canada
Greene
International Harvester
Clark Equipment
Buchanan
Mich
General Motors
Avon
Lombard-Wall Failures Shock Wall Street
Lombard-Wall Inc and its Lombard-Wall Money Markets filed for Chapter 11 protection, listing unsecured debts to New York State Dormitory Authority of 55 million and Chase Manhattan Bank of 45 million. Chase shares fell, markets rallied to Treasuries as investors sought safety. Lombard-Wall blamed Bankers Trust clearing refusal for the stoppage, noting no public business and no money market fund sponsorship.
MENTIONED IN THIS ARTICLE
New York Times Service
New York
Wall Street
Lombard-Wall Inc
Lombard-Wall Money Markets
Lombard- Wall
New York State Dormitory Authority
Chase Manhattan Bank
Lombard-Wall
Treasury
United States
Lombard- Wall Money Markets
United States District Court
Manhattan
Drysdale’s
Bankers Trust Co
Lombard
NiMo Announces 16 Percent Mortgage Bond Series
Niagara Mohawk Power Corp announces a public offering of 75 million dollars of first mortgage bonds at 16 percent due August 1, 2012. Salomon Brothers and Merrill Lynch White Weld co manage. Proceeds will cut short term debt. bonds are not callable before August 1, 1987.
MENTIONED IN THIS ARTICLE
Niagara Mohawk Power Corp
Salomon Brothers
Merrill Lynch
White Weld Capital Markets Group
Niagara Mohawk
Biggest bull market predicted at Syracuse stock talk
A Dean Witter Reynolds executive forecast the Dow will top its 1053 high and possibly triple to over 3000 in coming years at a Hotel Syracuse meeting. LeRoy Gross promoted the firm's Active Assets Account with a $20000 minimum, detailing investments, free checks, an international VISA card, pre approved borrowing, and annual tax-ready statements.
MENTIONED IN THIS ARTICLE
Dean Witter Reynolds
Syracuse
LeRoy Gross
Gross
United States
Lee Iacocca
Chrysler Corp
Iacocca
Chrysler
Herald American
DWR
Also Mentioned on This Page
Probe Money Changer
Itibank
Switzerland
France
Money Market Assets
Irving Trust Co
Bernard Schoenfeld
Automotive News
F.W. Woolworth
Edward F. Gibbons
St.Paul
Minn
Burlington Northern Railroad
Raymond Corp. Parts Distribution
Wall St
Chase
Drysdale Government Securities
Drysdale
Chase Manhattan
NiMo
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