Banks Raise Prime Rates After Inflation Surge
Chase Manhattan Bank and Republic National Bank in New York hike their prime lending rate to 11.5 percent from 11 percent amid a costly January inflation rise. Analysts expect more banks to follow as the Fed signals higher rates to curb a runaway economy, with Greenspan noting thrift losses but not risking policy. The Dow finished up slightly after the news.
MENTIONED IN THIS ARTICLE
Chase Manhattan Bank
Republic National Bank
New York
Chase
Federal Reserve Board
Greenspan
Fed
David Wyss
Data Resources Inc
Lexington
Mass
Bank
Anderson
Trump mocked across media in harsh satire row
A spread of attacks on Donald Trump from Spy magazine cartoonists Doonesbury and Bloom County parodies to Daily News and Stand Up New York jests. Critics call him an everyday slob with money and question his taste while Trump defends himself against jealousy.
MENTIONED IN THIS ARTICLE
Spy Magazine
Berke Breathed
Trump
Bill the Cat
Bloom County
Daily News
Donald Trump
New York
Breathed
Gail Collins
Donald
Egg price report and grain bids from Columbus area
Local AP report lists wholesale egg prices for grade A white eggs in cartons at 63 to 67 cents delivered to warehouses. Grain bids show Wheat 3.90 dollars, Corn 2.74, Oats 2.30, Soybeans 7.66 per bushel with Lorain County Farm Bureau noted in cooperative context.
MENTIONED IN THIS ARTICLE
New York
NYSE
At&t
Reebok
Amoco
Je Ball
Baxter
Texaco
Bethsu
Textil
UdnPeg
Carstir
Wwe Viet
Warnc
Wendys
Cirhicor
Cocatlta Cocate OS
CPC Inter Inc
Ota
duPont
Qtly
Ekodak
Emerson
Emrsél
Pirst Bancorp
Exxon
Ohi Edison
Orp Atty GaPac
Parker Hannuin
Hanson
Fat
Wss
Sunrise Medical
Ipowr
Woolworth
John Ee
Kmart
Agee
Mead
Merck
Mobil
Monsan
Matoria
Ae Baty Navistr
Columbus
Lorain County Farm Bureau Cooperative Assortation
Fed raises discount rate to 7.0 percent highest in three years
The Federal Reserve Board hikes the discount rate from 6.5 to 7.0 percent citing inflationary pressures. The move follows January price gains and a surge in prime rates, with Greenspan warning inflation must be resisted. The policy aims to slow economic activity and curb rising prices. The dollar's early exchange levels are little changed.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Fed
U.S
Federal Funds
Sears adopts everyday low price strategy across 800 stores
Sears Roebuck and Co announces a sweeping shift to an everyday low price plan. All 800 stores shut Monday night for price markdowns on over 50 000 items and reopen Wednesday noon. Elyria store adds room for expanded name brand lines while maintaining full service.
MENTIONED IN THIS ARTICLE
Elyria
Sears, Roebuck & Co
Midway Mall
Sears
Phillip L. Hess
Hess
Chicago
Kenmore Appliances
Craftsman Tools
Montgomery Ward & Co
Kidron Auction Markets Reflect Cold Weather Demand
Livestock consignments at Kidron Auchan were lighter due to extreme cold though prices stayed strong. Hogs and calves showed solid demand with Holstein cull cows firm, feeder pigs fluctuated, and hay and straw markets remained robust alongside varied cattle and dairy listings.
MENTIONED IN THIS ARTICLE
Kidron
Kidron Auchan
Also Mentioned on This Page
Dallas Morning News
Chase Manhattan
Republc National
Alan Greenspan
Congress
S&ls
Frank W. Anderson
Stephens Inc
Little Rock
Ark
Federal Reserve
Dow Jones
Respect
Time Magazine
Garry Trudeau
Trudeau
Jane Pauley
Uzi
Ivana
New York’s
East River
Tps
Labor Department
Central Bank
Ers
Michael Bozie
Sears Merchandise Group
Wichita
Kan
Indiana
Lucy Roger
Kidron Livestock
Sedie
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