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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
Mar 26, 1985
Page
15
An Agriculture Department analysis finds farm value drove much of the 3.8 percent rise in U S food prices in 1984 with poultry eggs fruits and vegetables and oilseed products leading gains while red meat also contributed. Overall grocery prices rose 3.7 percent with farm value accounting for about two fifths of the increase.
The 1984 consumer food expenditure totaled about $332 billion, with two thirds spent in grocery stores and the rest in eating places. The farm share was about $88 billion or 27 percent, while the marketing bill reached $243 billion, up $12.5 billion. Labor costs and packaging drove the rise, and food's share of disposable income fell to 15.2 percent from 15.6 percent in 1983. The trend suggests rising living standards with higher spending on nonfood items.
Marriott Corp plans a hotel and 300 condominiums on 210 acres near Minnewaska State Park in Ulster County despite zoning challenges. The Court of Appeals reversed the Appellate Division, upholding the Rochester Town Planning Board and its approval of the plan. The case centers on using 240 acres with a conservation easement in calculating density on a 450 acre site. Vari-Care Inc. announces its fourth stock split since January 1982, boosting shares by 33.3 percent to 3,860,549. Pratt & Lambert buys Spatz Paint Industries, absorbing its operations into Southern Coatings Division plants. Rochester Telephone declares a regular dividend of 61 cents a share payable May 1. An eight county council launches Live it Upstate to attract businesses to eastern New York. PAR Technology Corp stock included in NASDAQ expansion.
A U S natural gas outlook reduced its proved and potential reserves to 984 trillion cubic feet, down from 1 078 TCF. The energy bureau noted less optimistic drilling results in three western states. Proved reserves stayed near 200 TCF while potential supply declined from 876 to 784 TCF, affecting future supply life estimates.
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