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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 03, 1982
Page
5
Northrop Aircraft in Haw thorne California to unveil the Tigershark a new Mach 2 fighter expected to replace the F-5 in service. The F-5 remains in use by thirty nations as a key tactical air defense asset per UPI.
UPI reports lower money market costs as Treasury bills drop to their lowest in nearly two years and banks trim the prime rate to 15 percent. Fed actions and investor optimism spur a stock rally, while new June factory orders show continued industrial weakness and soft private loan demand.
The 9 to 5 group praises a consent decree with the Boston Survey Group to stop sharing wage data among members and to identify those in the group. The agreement, filed with Attorney General Francis X Bellotti, aims to curb informal surveys that set clerical pay, chiefly affecting women workers.
Reb Plastics Inc of Avon Lake will take over part of Better Plastics Inc in Kissimmee Florida, producing flower pots hanging baskets and nursery cans under the Red Pots line. The firm will rent Better Plastics Orlando facility, gain same or next day delivery, and add nursery cans to its horticultural range while maintaining Better Plastics operations in Kissimmee and Malvern Pennsylvania.
United Press International reports Occidental Petroleum, the 12th largest oil company, posted a 52.1 percent drop in second-quarter profits to 664 million dollars, or 46 cents a share, from 1.396 billion, or 165 a share, as weak world demand for petroleum products trimmed earnings. Sales rose 38 percent to 43 billion dollars.
Cleveland based Transohio Financial Corp reports a first half loss of 144 million dollars or 382 per share. Second quarter losses total 64 million dollars or 171 per share. Chairman Warner B Bishop cites high interest rates and signs inflation may ease.
Stocks opened higher on the New York Stock Exchange with autos, electronics, and forest products leading early gains. Banks signaled a move to a 15 percent prime lending rate, after a half-point drop in two weeks, while grain and poultry prices in Ohio showed mixed readings. Wheats and soybeans in Ohio markets posted varied prices as farmers watched the volatile market session.
The daily nonferrous metal prices show Copper at 7.250 dollars per pound, Lead 9 cents, Zinc 37.40 cents, Tin 65.79 dollars per pound, Aluminum 76 to 77 cents, Gold at 43.51 per ounce, Silver 69.30 dollars per troy ounce, Mercury 3.50 dollars per flask, and Platinum 284 to 290 dollars per troy ounce from Handy & Harman.
Lorain County Farm Bureau Cooperative Association Inc lists yesterday's market bids: Whest $308, Shelled Corn $225, Oats $180, Soybeans $540 per bushel. The figures reflect closing prices available to local producers.
Creston auction notes 347 consignors offered 1249 head across calves sheep hogs and cattle. Prices ranged with calves at 50 to 80, hogs and sows in 40s to 60s, heifers and bulls toward 40s to 90s reflecting diverse lots and farm consignments.
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