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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 27, 1982
Page
7
The market shows mixed early results as the Dow gains 3.42 points to 865.58 while the NYSE composite rises 0.34 to 68.59 and the American Stock Exchange index climbs to 276.29. Volume sits at 60.50 million shares with more winners than losers but overall modest movement amid a string of recent gains.
District Commissioner Thomas R. Cotton announces a new telephone directory service for northeastern businesses. The yellow pages set will be distributed Tuesday to nearly all districts from Conneaut to the southern county, aiding firms needing to act or do business through the area.
Nonferrous metal prices moved yesterday with copper 6 percent to 78 cents, lead 26 to 32 cents, zinc 35 to 39 cents a delivered, tin 36.54 to 36.54 cents, aluminum 76 to 77 cents, New York gold at 57. to 6T per ounce, mercury at 588, and platinum at 329. This report lists daily quotes and market notes for traders and investors.
Market area grain prices show No. 2 wheat at 3.48 dollars per bushel in the Northeast Ohio region, No. 2 shelled corn at 2.61, oats at 2.30, and No. 1 soybeans at 4.10. Prices across districts indicate No. 2 wheat down slightly, with No. 2 shelled corn and oats steady and soybeans easing in some districts.
Butter and eggs sales data from Columbus show large eggs 74 to 83 cents, mostly 74 to 76, medium 67 to 76, mostly 87 to 89. Midwest wholesale prices fall with Class 1 large at 50 cents and other classes down. nest rate breaking stock 43. SUSAN PALA GYI, daughter of Zigmond and Mrs Gyi, of 234 Foster Avenue, is named an outstanding scholar and leader in The Ohio State University College of Administrative Science to receive the Pace Letter Award.
Creston records 338 consignors selling 1 188 head of livestock at the Creston Livestock Auction Monday. A pony brought 95 dollars among cattle and hogs with varied prices across calves sheep and feeders. Prices range from calves 40 to 85, hogs and pigs 35 to 67, and cattle steer and heifer classes up to about 72.
DETROIT UPI The automakers report mixed results with GM earning 128 million in the first quarter down from 190 million a year earlier while AMC posts a 51 million loss or 93 cents a share, citing the ongoing recession and weak vehicle sales. GM maintains dividend at 60 cents per share and cautions the downturn may persist into Q2. Ford announces a new front-wheel drive components contract at a Sterling Heights plant to build 50 percent of family car parts, outsourcing the rest to GEN, aiming to keep more work in Ford plants. GEN will train workers as part of the plan.
Washington AP reports that starting today banks and savings loans may offer up to 13.015 percent on six month money market certificates, down from 13.165. S&Ls may pay 14.1 percent and commercial banks 13.85 percent on two year small saver certificates, as government Treasury bill auctions influence rates. About 4.7 billion dollars in six month bills sold at an average discount of 13.64 percent, down from 12.719 percent a week ago.
The Public Utilities Commission of Ohio approved General Telephone Co. of Marion for an 11.9 percent increase totaling 27 million dollars, far below the requested 66.8 million. The decision restructures rate bands, reclassifies exchanges, eliminates select services, and raises pay phone charges while separating access line and set charges.
The French Creek Association of Avon antique, boutique and craft dealers chose David Crawford as president. Carl Plavin became vice president, Winnie Streicher the secretary, and Joan DeMars the treasurer. The group grew from nine to 48 dealers in four years and aims to restore the district’s 1800s look.
The Lorain Chamber of Commerce will host a general membership dinner meeting featuring psychologist Thomas Zeck who will discuss stress management. The event starts with dinner at 6 30 p.m. at the Mark Restaurant in the Sheffield Shopping Center with a per person cost of 11 50.
The U.S. Small Business Administration along with the Department of Transportation and the Interstate Commerce Commission will host a free two day business management workshop for long haul truck owners and operators on April 27 28. Held at the Howard Johnson Motel Cleveland the session covers record keeping marketing cash flow income statements and tax returns. It is one of 24 nationwide sponsored events. The workshop aims to help truckers manage their business and understand daily federal regulatory requirements. Interested participants should contact the SBA Trucking Business Workshop Office of Management Assistance in Washington DC.
The Russell Realty Co. is named a member of RELO Inter-City Relocation Service, a not for profit group aiding cross market home buyers and sellers. RELO has about 1,300 member firms serving over 13,000 communities in the U S, Canada and overseas, says president Newman Russell. He calls it an important step for serving western Cuyahoga and Lorain Counties.
The 1982 Cleveland Business Show and Management Conference starts May 11 at Public Hall. The two day event will host 37 seminars including 10 on office automation, four full day seminars, and more than 200 exhibitors expected.
The Society of Manufacturing Engineers will offer two manufacturing clinics at the Sheraton Hopkins Hotel in Cleveland from April 27 to 29. Topics include practical die design and jigs and fixtures. Certified engineers or technologists attending either clinic will earn 18 professional recertification credits.
Lorain County Savings and Trust Co reported 1982 first quarter net income of 272 792 dollars, down 18 percent from the first quarter of 1981. Total assets stood at 233 million, up from 205 million. President Robert T. Bowman said net yields fell despite a 26 million rise in interest earning assets as funding costs rose faster than asset yields. The board declared a 25 cent per share dividend payable June 1 to shareholders of record May 22.
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