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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 24, 1984
Page
2
In New York the stock market advanced with the Dow Jones up 9.42 to 1144.05 in early trading. The gainers outnumbered losers about 3 to 1 among NYSE issues as traders anticipated an important turning point after Wednesday’s rally following a midafternoon selloff.
Lorain County Farm Bureau lists bids for Wheat 325 per bushel Shelled Corn 24 per bushel Oats 240 per bushel Soybeans 742 per bushel. Copper 69 72 cents a pound Lead 2428 cents a pound Zinc only cents a pound. Aluminum 8 tents a pound. Gold 39825, Silver 9530 per troy ounce, Mercury 284 to 295 per 78 lb. Eggs and poultry prices reported in Ohio and Chicago markets with wholesalers lower on Tuesday.
Kidron consignments held steady for the season with market hogs drifting downward to 34.25 to 41.24 per hundredweight, feeder pigs lighter but higher bung, calves improving with slaughter calves drawing new buyers, beef cattle advancing to 51 per hundred, dairy cattle steady, hay and straw volumes strong though prices eased on volume. Total head 2,017 with 151 loads of hay and straw. top prices included Holstein bulls near 10 and cattle calves varying by class. miscellaneous items like one horse at 95 and firewood offerings noted.
Lorain National Bank will pay 20 cents per share this quarter, up from 18 cents last quarter, for its 1,316 shareholders. The bank’s 1983 net income exceeded $2 million at $2.25 per share. A Feb 29 seminar at Lorain County Community College on small business accounting is co sponsored by the Greater Lorain Chamber of Commerce. The 1984 Greater Cleveland Auto Show opens March 10 at the Cleveland Public Hall Convention Center featuring over 400 display vehicles.
The Labor Department reports January CPI up 0.6 percent with a 1.6 percent jump in food costs the largest since 1980. Prices rose across meats eggs vegetables and fruits while heating oil climbed 2.6 percent and telephone bills set a record rise due to AT&T breakup.
Washington AP reports LTV Corp and Republic Steel executives plan further meetings with Justice Department antitrust officials after the department blocked their $770 million merger last week. Julian Scheer said no proposal was made and they hope to meet again next week to explore possibilities while preserving merger values.
Highland Park Michigan Chrysler posted 1983 earnings of 701 million and a record industry profit of 6.1 billion as Lee Iacocca urged deficit control to avoid choking economic growth. Ford’s Caldwell joined in calling for cuts in military spending while analysts see a recovery path for Chrysler into 1984.
Federal investigators examine claims that CBS News staff traded Searle Co. put options before a CBS program questioned Sweetener aspartame safety. SEC cited unusual Searle options activity and potential CBS involvement, with CBS officials promising disciplinary action if charges prove true.
Columbia Gas of Ohio asks PUCO to repeal the percentage of income plan used to offset winter heating costs. Officials say as many as 204,000 customers could be affected, while others say only about 13,500 have applied. The plan requires families earning up to 150 percent of the federal poverty level to pay a share of their heat bill during winter, with eligibility and aid programs involved.
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