Banks Boost Six Month and Three Month CD Yields
Beginning today banks may pay up to 9.62 percent on six month money market certificates and up to 9.19 percent on three month certificates. The increases follow government Treasury security auctions showing higher short term yields the highest since last year. Key Banks Inc plans to offer 800,000 shares of adjustable rate cumulative preferred stock to finance acquisitions, including a possible purchase of Depositors Corporation. Stokely-Van Camp Inc agrees to a takeover by Quaker Oats and Pillsbury will withdraw its offer. American Airlines reports a sharp rise in second quarter earnings to 39.6 million, continuing airline industry losses for others.
MENTIONED IN THIS ARTICLE
Savings and Loan
Treasury
Key Banks Inc
Federal Securities and Exchange Commission
Key Banks
Bank of New York
New York
Depositors Corporation
Augusta
Maine
Stokely-Van Camp Inc
Quaker Oats Co
Pillsbury Co
Stokely Common
Stokely-Van Camp
Quaker
Pillsbury
Indiana Securities Commissioner
Stokely
American Airlines
AMR Corp
American
AMR
Factory orders revive at Northland Division boost recalls
Northland Division of Scott and Fetzer Co in Watertown reports two to three large orders in three weeks, recalling 50 furloughed workers as total local employment rises to about 200 from 500 earlier this year. Officials warn whether this signals a long-term upturn or a normal seasonal pickup while broader U S manufacturing use hits 74.5 percent in June.
MENTIONED IN THIS ARTICLE
U.S
Watertown
Northland
Scott and Fetzer Co
Robert D. Hutchinson
Hutchinson
Sandra Shaber
Chase Econometrics
Wall Street
First Pennsylvania Bank
Philadelphia
Federal Reserve Board
Fed
Finland
Saudi Ail
Sheik Ahmed Zaki Yamani
ATandT to distribute stock in seven regional holdings
AT&T plans to split into seven regional holding companies and offer 3.2 million shareholders a consolidation option for 10 to 499 shares to swap across holdings. Full shares issued for 500 plus, with cash for fractions, and fees of 25 cents per regional share bought or sold. Distribution begins mid February 1984 with a when issued trading in November.
MENTIONED IN THIS ARTICLE
American Telephone and Telegraph Co
At&t
New York Stock Exchange
At&t's
UTC Quarter Profit Rises as Income Dips Slightly
United Technologies reports second quarter operating profit up 33 percent to 140 million, while net income falls 4 percent to 145.6 million due to a year-earlier one-time gain. Six-month sales reach 7.25 billion. CEO Harry J. Gray cites rebound in residential construction, auto production, and semiconductors.
MENTIONED IN THIS ARTICLE
United Technologies Corp
United Technologies
Syracuse
Pratt & Whitney
Otis Elevators
Sikorsky Helicopters
Mostek Semiconductors
Iamont Automotive Paints
UTC
Exchange of Common Stock
Cer
Tain
Stock-Debt Exchange
Harry J. Gray
Factory GM Sale Offers Deep Discounts Near East Syracuse
More than 500 GM vehicles including cars, wagons and trucks are offered at deep-cut prices by 11 Syracuse area dealers. The Fourth Annual Factory Sale starts at 2 p.m. tomorrow at the Fisher Body plant near East Syracuse and runs through 6 p.m. Saturday with on-site financing, instant trade-ins, and 9.9 percent bank credit on select models.
MENTIONED IN THIS ARTICLE
Syracuse Area
General Motors
Fisher Body
Syracuse
General Motors Acceptace Corp
Onbank Opens First ATM at Peters Grocery Syracuse
Onbank debuted an automatic teller machine at Peters Grocery on Nottingham Road in Syracuse, its first ATM installed with a merchant partner. Russell C. Carlson, the president, says the Tellermatic 24 lets customers deposit cash, withdraw funds, pay loans, check balances, and transfer between savings and checking. The bank plans more ATMs across offices and additional convenient locations.
MENTIONED IN THIS ARTICLE
Onbank
Peter's Grocery
Nottingham Road
Russell C. Carlson
Carlson
Peter's
Bank
Ith Tellermatic
Syracuse
Kathryn Peets
John Peter
Peter's Groceries
Peter
Genesee Light Ale Debuts in Syracuse Market
Genesee Cream Ale Light introduces America’s first light ale in Syracuse this week. Genesee president John N. Wehle Jr notes strong Cream Ale sales and says the Light version blends cream ale taste with a lighter, smoother flavor and 30 percent fewer calories. Available in six packs, cases, and on draft.
MENTIONED IN THIS ARTICLE
America
Syracuse
Genesee
John N. Wehle, Jr
Consumer credit costs vary widely amid new bank competition
Purdue University Credit Research Center finds a 10 point gap in car loan costs in two states without rate caps. Competition from savings banks and loans has lowered some prices, while overall rates lag behind. Operating costs drive the high end, as larger banks carry one quarter of loan costs and smaller banks one third.
MENTIONED IN THIS ARTICLE
Credit Research Center
Purdue University
A. Charlene Sullivan
Credit Center
Sullivan
Robert W. Johnson
Center
Also Mentioned on This Page
Syracuse Herald:journal
RCA
Zenith Radio
Coleco Industries
Burlington Northern
Chicago & North Western
Chase Manhattan
GTE
TRW
GAF
Égle
Chicago Tribune
Federal Resarve Bosra
Isadore Barmash
New York Times
Bell
Bell Laboratories
Gray
Jeff Crouse
Bresee Chevytown
Crouse
Chevrolet
Dave Ball
Bresee
Fast Syracuse
Jay's Village
Pontiac
Burdick, Carbone
Bill Rapp
Regal Buick
Dick Haskins
Bill Scott
Oldsmobile
Crest
Cadillac
Burdick
Haskins
GMC
Tj Asondjfs Creag Tide
Saurea Board of Governors
Federal Reserve
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