Gold bullion prices edge up amid thin investor interest
Gold prices varied across markets with London dealers pricing at 438 an ounce, Zurich bid 437.75, Hong Kong closing 436.96, and New York Handy & Harman at 443.30. Silver in London 12.85, New York 13.15. Bank of Commerce stockholders approve sale to Norstar for 34 per share, completing approvals for June 1983. Guter Steel to resume limited operations as buyers sought for Lockport plant. Local 2857 ratifies three-month deal 140 to 25.
MENTIONED IN THIS ARTICLE
London
Zurich
Hong Kong
New York
Handy & Harman
U.S
Tokyo
Guter Special Steel Co
Lockport
United Steelworkers
Financial Rates and Bank Customer Pricing Snapshot
The text lists approximate rates across banking products and markets. Prime rate 10.50 percent, discount rate 8.50 percent, federal funds 8.50 percent. Treasury bills three month 8.07 percent and one month 6.10 percent. Certificates of deposit one month 6.05 to 8.15 percent, six month 5.0 to 8.0 percent. Small savers 8.67 percent, passbook 5.5 percent, savings bonds 8.5 percent. Municipal bonds 9.71 percent.
MENTIONED IN THIS ARTICLE
Treasury
Sentry seeks larger Syracuse space amid insurance growth
Sentry Life Insurance Co of New York and Sentry Insurance Co sales and claims offices discuss leasing space at the Atrium on Clinton Square, signaling continued insurance industry expansion in Syracuse. Current offices total about 70 employees. new space would greatly exceed present square footage as plans extend over five years.
MENTIONED IN THIS ARTICLE
Sentry Life Insurance Co
New York
Sentry Insurance Co
Clinton Square
Hayden Jones
Sentry
Syracuse
Jones
Atrium
Edwards Department Store
Peerey
Kemper
Mary Claire Codd
Eagan Real Estate
Pivko Group
New York City
New York State
Long Isand
Middlesex Insurance Co
American General Life, Insurance Co
Buffalo
Harrison
James Harrington
US Fidelity Guaranty
Baltimore
Harrison Street
Harrington
Fay's Drug fixes dividend and plans expansion
Fay's Drug Co reported record first quarter earnings of 14c a share on $68.53 million in sales, up from 11c and $59.37 million. The board boosted the quarterly dividend 40 percent to 7c, payable July 8 to holders of record June 24, and announced plans to open 10 to 12 new stores, including a Rome location, bringing total stores to 93. The company also reported full year 1983 earnings of $5.47 million on $270 million in sales and approved charter increases for common and preferred shares and the stock option pool.
MENTIONED IN THIS ARTICLE
Fay's Drug Co
Henry Panasci Jr
Panasci
Pay
Fay
Lackawanna
Rome
Fay’s
Fay's
Securities & Exchange Commission
Daniel A. Herrmann
Chris J. Witting
Crouse-Hinds Co
John D. Burke
Dermody, Burke and Brown
Syracuse
Producer prices fall while industrial output rises in April
Wholesale prices slipped 0.1 percent in April marking the third monthly decline in four months, while industrial production advanced 2.1 percent. Energy costs fell, food prices rose 1.2 percent the largest gain in a year. For the first four months of 1983, wholesale prices tracked by the PPI were down 3.7 percent year over year.
MENTIONED IN THIS ARTICLE
Labor Department
Economic recovery seen gaining speed in White House briefing
Analysts say the drop in producer prices signals stronger recovery. Martin Feldstein of the Reagan Council of Economic Advisers told reporters at the White House that factory output and lower PPI show the economy on course, shifting into higher gear.
MENTIONED IN THIS ARTICLE
Martin Feldstein
Reagan
Council of Economic Advisers
White House
Alcoa allocates over $10 million to Massena plant upgrade
Alcoa plans a two year investment exceeding 10 million dollars to install a state of the art continuous casting and rolling mill at its Massena New York operation to boost efficiency and preserve its 2100 workers. The project aims to keep the plant competitive in aluminum wire and redraw rod production for conductor products.
MENTIONED IN THIS ARTICLE
Alco
Massena
Gary Riviano
Alcoa
New York
United States
Biviano
Arsen Markarian
Markarian
Dennis M. Falls
Falls
Nichols- Homeshield
Anta Corp
Aluminum, Brick and Glass Workers’ Union Local 420
New Orleans
Local 420
St. Lawrence River
The
Power Authority of
State of New York
PASNY
Area builders expect to double home starts
Harold Masters of the Home Builders Association of Central New York says Onondaga County area builders expect at least a 50 percent rise in home starts this year. April single family home sales in the Syracuse area rose to a record 273, with pending sales up sharply.
MENTIONED IN THIS ARTICLE
Onondaga County
Harold Masters
The
Home Builders Association of
Central New York
Greater Syracuse
Masters
Steel plant layoffs tied to imports under 1974 Trade Act
About 650 Crucible workers laid off as imports of stainless and specialty steel bars and rods are deemed responsible. Edward Weintraub of USDA cites Colt Industries division as contributing to the drop in sales. The ruling enables extended unemployment benefits, retraining, and relocation aid, with Louis Thomas of the United Steelworkers noting the petition prompted the finding.
MENTIONED IN THIS ARTICLE
Colt Industries
Crucible Specialty Metals Division
Edward Weintraub
U.S. Department of Agriculture
Crucible
Louis Thomas
United Steelworkers
New York
Thataw
Auto Makers Report Varied May Sales Increases
Chrysler Corp posts a 41.6 percent rise in early May car sales with 22,737 units sold in the first 10 days versus 16,052 a year ago. Ford Motor Co reports a 1.5 percent gain to 35,574 vehicles, AMC shows about a 104 percent increase to 5,100 units, aided by Renavt Alliance subcompacts produced at Kenosha plant. Chrysler's year to date sales rise 15.6 percent to 287,381. Ford up 0.6 percent to 486,745. AMC up 120.2 percent to 71,663.
MENTIONED IN THIS ARTICLE
Chrysler Corp
Ford Motor Co
American Motors Corp
Chrysler
Ford
AMC
Renavt Alliance
Kenosha, Wis
Also Mentioned on This Page
Norstar
Bank of Commerce
Norstar Bancorp
Commerce
Empire Shares Corp
Eire
First ‘American Corp
Yonkers
Albany
Utica
Mid-Hudson Valley
Long Island
Marine Midland
Marine Midland Bank of Buffalo
Small Business Administration
Bank of America of
San Francisco
Banc Ohio-National ‘Bank’ of Columbus
SBA
Washington
Banc Ohio
Federal Reserve Board
Federal Reserve
Robert Sindhe
Bear Stearns & Co
Manijasonojfem
Board of Realtor
Onondaga
Madison Counties
Frances Carroll
Crucible Steel
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