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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 03, 1987
Page
5
The Dow climbs 21.38 to a record 2179.42 while broader markets hit new highs despite reports of slowing growth. Labor Dept productivity rose 0.7 percent in 1986, and December construction spending rose 0.5 percent amid mixed signals from federal data.
Creston buyers purchased 66 000 dollars in cattle calves hogs and hay from 321 consignors Monday. Calves ranged from 50 to 85 dollars with heifers and bulls in varied grades. Cattle including choice steers and heifers posted several midrange prices while hogs sold up to 50 dollars per head and hay and straw receipts totaled across two cuts and straw offerings.
Lorain County Farm Bureau Cooperative Association announced yesterday's market close with grain bids. Wheat at 276 per bushel and shelled corn at 154 per bushel, oats at 165 per bushel, soybeans at 34.67 per bushel.
Interest rates on short term Treasury securities climbed for a second straight week. The Treasury sold 6.8 billion in three month bills at a 5.58 percent discount, and 6.8 billion in six month bills at 5.59 percent. The Fed also reported the one year Treasury bill yield rose to 5.82 percent from 5.69 percent.
The Justice Department seeks to open information services and equipment manufacturing to the seven regional Bell companies and allow limited long distance competition, arguing for more consumer tech and competition. Critics warn it risks reviving monopoly power while praising some manufacturing and information service steps.
Diamond Shamrock countered Pickens Takeover bid with a 340 million cash offer to shareholders and announced a spin-off of its refining unit into a separate public company. Chairman William Bricker will retire after the spin-off, to be led by Charles Blackburn as CEO.
U S District Judge Sam H Bell approves class action status for about 1500 women who worked in Goodyear Replacement Tires Sales Division retail sales nationwide. Goodyear contends no companywide policy, and any bias was localized. Case stems from Paula Krenz 1980 complaint with Missouri human rights bodies. Bell schedules pre trial for February 20.
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