Mixed yields in latest T bill auctions amid debt ceiling uncertainty
Treasury sold about 3.7 billion each of three and six month T bills totaling 7.4 billion, driving discounts to 8.1 and 8.14 percent respectively. Debt ceiling concerns capped auction totals, while rates for private accounts rose modestly for money market certificates. Gold prices steadied as dealers noted thin buying interest, with London and Zurich quotes around 437.50 per ounce. Sears signaled further bank acquisitions to expand a nationwide deposit base, and IBM along with several retailers reported earnings gains in the latest quarter.
MENTIONED IN THIS ARTICLE
Treasury
Congress
Savings and Loan
S&ls
London
Zurich
Hong Kong
New York
Handy & Harman
Go out and sell area assets wins Crystal Ball for Rogers
Stephen Rogers president of the Herald Co receives the Crystal Ball Award from the Sales and Marketing Executives of Central New York. He urges local business leaders to market Syracuse area assets including water to attract companies, cites Bristol-Myers Co facility as a target, and credits community projects and Metropolitan Development Association through his career.
MENTIONED IN THIS ARTICLE
Joseph A. Porcello
Rogers
Central
New York
Northeast
Syracuse
Great Lakes
Bristol-Myers Co
Frederick “Doc” Schwartz
S. Salina Street
Clinton Square
Metropolitan Development Association
Metropolitan Water Board
Recovery signs fade as rates worry investors fade
As the economy shows recovery from the 1981-82 recession, investors fear rates may bottom out. The Dow fell sharply before ending down 15.77 to 1,202.98 while long-term bonds dropped. Fed money supply rose, suggesting potential rate pressure. Analysts expect slow rate declines and a continued subnormal recovery. Housing may rebound with mortgage demand seen improving, construction projected at 1.55 million starts.
MENTIONED IN THIS ARTICLE
David Maxwell
Federal National Mortgage Association
Mortgage Bankers Association
New York
Carlson becomes UTC president succeeding Gray
Robert J. Carlson, longtime UTC executive vice president, was appointed UTC president. He takes over from Harry J. Gray, who has run the company temporarily after Alexander Haig left to join the Reagan administration. Carlson will keep his current post and oversee Pratt & Whitney, while UTC reports 13.6 billion dollars in sales and 533.7 million in profit with about 180000 employees and 300 plants worldwide.
MENTIONED IN THIS ARTICLE
Robert J. Carlson
United Technologies Corp
Carlson
UTC
Fortune Magazine
Harry J. Gray
Gray
Alexander M. Haig Jr
Reagan
Bank regulator expresses sympathy on check float limits debate
New York state banking chief Vincent Tese told Washington bankers that banks should notify customers of float policies to pressure weak lenders, while a bill seeks to cap floats. He warned about potential depositor confidence impacts and urged further study. The NY bankers group met as Will and Moynihan criticized federal tax and deficit policies.
MENTIONED IN THIS ARTICLE
New York
Vincent Tese
Washington
State Banking Board
Tese
Bankers
New York State Bankers Association
Cludes
Federal Deposit Insurance
James P. Murphy
Association
Yonkers Mayor Says War on UTC Plant Closure
Yonkers Mayor Angela R. Martinelli denounces United Technologies over the planned shutdown of Otis Elevator in Yonkers. He demands compensation for public subsidies used to expand the plant and contends the company reneged on a long term commitment. The dispute, potentially in court, spotlights whether cities can recoup incentives when promised jobs vanish.
MENTIONED IN THIS ARTICLE
Angela R. Martinelli
Yonkers
United Technologies Corp
Martinelli
New York City
United Technologies
Kays
California
Oakland
The
Raiders
Lo Sares
Los
Otis Elevator
Elisha Otis
Faelory
Otis
United
Peter Thompson
Thompson
Olas
Pearce
Maar
Also Mentioned on This Page
Sears Building
Sears
IBM
J.C. Penney
Carter Hawley Hales
Zayre
Kmart Corp
Timothy
Laurel Rogers
Fayetteville
Cyystal
Stephen Rogers
Bristol
Bristol Laboratories
Princeton
N.J
Wall Street
Federal Reserve Board
Federal Reserve
Henry Kaufman
Salomon Brothers
U.S
Robert Ortner
Commerce Depart
Ment
Pratt& Whitney Group
Otis Elevators
Sikorsky Helicopters
Hamilton Standard
Mostek
Norden Systems
Murphy
George F. Will
Will
Daniel Patrick Moynihan
Dn.y
Vonken
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