Prices drop as Dow tumbles after money supply jump
New York stocks opened lower after Friday’s report showing a large rise in money supply. The Dow fell 12.28 to 954.44 in early trading as losers outnumbered gainers four to one on the NYSE, amid concerns inflation may rise and the Fed may tighten credit. Friday’s rally had followed a 4.09 point rise to 966.72, with volume at about 47.8 million shares and the NYSE composite up to 72.07.
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Reserve
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Trac- Rose
New York Stock
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American Stock Money Market Analysis Exchange
UPI
Penney
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Peilaka
Rcacp
Seay
Armca
Rockwl
Bendix
Rohm
BethSth
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Tubbmd
Ee Borger
Sears
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Perry
St Bend
Chisier
Colgate
Ae Pelea
Sstec
Nas DuPont
Genli
Pierrett Good
Freehant Leh
Val Ind Goodrich
TC Industries
LoneStr
Keehning Mattel
Lear Siegler
McLooth
Midland
Ross MobiCo
National Gypéum Monsan
Edison ‘Motorka
Parker Haomfin Nabusco
Searle
Ohio antenna maker Tenna Corp shuts down plants
Warrrensville Heights United Press International reports Tenna Corp once the world’s largest car radio antenna producer has ceased production. President Milton J. Garrett says nearly all of its 100 employees in Ohio will lose their jobs as the company faces bankruptcy and bank pleas for liquidation.
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Warrensville Heights
UPI
Tenna Corp
Milton J. Garrett
Tenna
Cleveland
Alabama
United States
Antenna Company
U.S
William J. O'Neill
FTC chair’s future murky amid soft drink study
The FTC launches an undisclosed study of the soft drink giants Coca Cola and PepsiCo that could reshape marketing and distribution. Inside talk suggests chair Perschsuk may resign, with Reagan likely to replace him. The study may push for no fault monopoly rules and potential forced licensing and distribution changes.
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Federal Trade Commission
Coca-Cola
PepsiCo
Michael Pertshuk
FTC
Bureau of Economics
Justice Department
World Bank warns of rising global poverty in 1980s
The World Bank reports 780 million people live in absolute poverty, with the number rising despite declines in some regions. It warns poverty will grow unless oil prices stabilise and deficits shrink, urging industrial nations to boost imports and aid while oil exporters expand purchases.
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The
World Bank
Washington
UPI
International Lending Organization
Sub- Sahara
Africa
Developing World
Officials survey flood damage in western Pennsylvania
Officials assessed flash flood destruction across Armstrong Butler and Clarion counties after deadly torrents last Thursday night. Rescue teams searched Sugar Creek near Bradys Bend for two missing bodies while civil defense logged about 28.9 million dollars in damages including 10.6 million to roads and 14.1 million to homes farms and businesses.
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East Brady
UPI
Pennsylvania
Sugar Creek
Bradys Bend
Armstrong
Butler
Clarion
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UAW
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Wille
Mid-Ohio Securities Corp
Loran
Cleve
Bria
Spitzeh Parr Plaza
Broad St
Elyria
Don Binnie
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Meyers Clu
Paul Zajac
Jamie Dela Cruz
Gary Grad
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