Fed Boosts Dollar as Gold Prices Decline Worldwide
The Federal Reserve move tightens credit and lifts the dollar against major currencies. Gold prices fall at opening, with quick fluctuations in London and Hong Kong markets, while silver prices ease. London fixings set around 419.25 per ounce as sentiment hints at further easing by day’s end.
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London
Britain
Hong Kong
New York
Handy & Harman
Government moves to all or nothing Chrysler warrants sale
Treasury begins legal steps toward an all or nothing auction of 14.4 million Chrysler stock warrants tied to a 1.2 billion loan guarantee. Chrysler may bid and two dealer syndicates could resell to the public. warrants worth up to 350 million at stake, exercise price 13 per share, expiring 1990.
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Chrysler Corporation
Chrysler
Treasury Department
Securities and Exchange Commission
Market slips as investors wary on rising rates
A sluggish session saw minor Dow gains and broad declines amid rising interest rate fears. The Dow edged up 0.81 to 1,185.06 while the NYSE composite fell and turnover cooled. Analysts blamed credit market rate rises for the cautious mood and expectations the Federal Reserve may not ease policy enough to push rates lower.
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