Recession Spurs Bank Failures and Mixed Economic Signals
The 1982 banking year saw 43 bank failures, the most since 1940, with 46 savings and loan mergers tied to government support. Penn Square Bank’s collapse linked to energy loans marked the era’s high-profile event. Yet factory orders rose 0.7 percent in November and construction spending jumped 3.5 percent in November, signaling some revival amid housing gains and lower rates.
MENTIONED IN THIS ARTICLE
Genicies
Savings and Loan
Penn Square Bank of
Alan Whitney
Federal Deposit Insurance Corp
Mutual Savings
Commerce Department
Stock market opens lower on Congress budget worries
The New York market declines as the Dow slips 175 points in early trading while Monday’s retreat deepens. Analysts cite fiscal deficit concerns despite proposed 30 billion in cuts, with volume rising on the NYSE to 59.08 million shares and the composite index down to 79.79.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Congress
Administration
NYSE
American Stock Exchange
Creston Livestock Auction Sells 986 Head Monday
A Creston livestock auction sold 986 head from 361 consignors. Eight goats and a pony were sold, plus 197 calves and 204 hogs with various price ranges. Cattle and sheep prices varied from about 36 to 75 dollars per hundredweight, with hogs and sows also shown. Nonferrous metal prices in New York quoted copper, lead, zinc, aluminum, and other metals with spot and daily quotes.
MENTIONED IN THIS ARTICLE
Creston
New York
Handy & Jarman
Handy & Harroan
Wage concessions hinge on reinvestment guarantees
In Pittsburgh, United Steelworkers Local 1256 polls 750 members at Duquesne Works on a Nov 19 contract. 83 percent favor concessions if funds are reinvested and laid-off workers rehired. 17 percent oppose. Local 1256 represents about 2,700 employees. past rejection 79 percent. Workers say steel money must be returned to steel to improve mill modernization and competitiveness.
MENTIONED IN THIS ARTICLE
Pittsburgh
Mike Bilesik
United Steelworkers Union
Duquesne
Bilcsik
U.S. Steel
Duquesne Works
Wheeling-Pittsburgh Steel Corp
Steel unions seek concessions amid wage cuts and suspensions
BILCSIK says a Feb. 12 union council meeting will reveal wage concessions of $1.53 per hour and suspension of many benefits at Wheeling-Pittsburgh to satisfy bank loan requirements. About 50,000 Allegheny County workers are jobless, with 300,000 nationwide unemployed, as steelmakers blame cheap imports for price pressures.
MENTIONED IN THIS ARTICLE
Wheeling-Pittsburgh
Bilcsik
Union
Council of Presidents
Allegheny County
Bilesik
Mon Valley
Treasury bill yields slide for fifth straight week
U S government bills see lower yields across six month and three month maturities. Auction data shows six month bills at 7.946 percent and three month bills at 7.896 percent. Opening deposit minimums for short and six month certificates are cut to 2500 dollars.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Lorain County Grain Prices At Farm Bureau Market
At the Lorain County Farm Bureau Cooperative Association auction yesterday the market closed with Wheat at 297 per bushel Shelled Corn 216 per bushel Oats 165 per bushel Soybeans 342 per bushel.
MENTIONED IN THIS ARTICLE
Lorain County
Farm Bureau Cooperative Association, Inc
Also Mentioned on This Page
Syria
THE
Associated Press
Robert Ortner
Wanner
Ers
American Iron and Steel Institute
U.S. Steel Mills
Federal Reserve Board
Tech
Vito Fe
Uslife
Chrysler
Pepsico
Gulf Oil
Eastman Kodak
Ingerr
Midland
Ross Ifta Stoc
IBM
Navona
Gypsum
Sid IntHarv
Ohio Edison
Sybron
Kopers
Ite AmCanna
LOF Kroger Jay
Texas
AmMot Fs Mead
Armeo
AshlOul
Alirich
NatCan
AvcoCp
Bendix NorSo
Bichhr Tim Ems
Boeing Borden
Owen
Chrysir
Penney
Pepsila
ColGas
Plizet
le ConFois
PhilMr
PhilPet
RCA
Drest
RalsPur
duPont
EsKod
Eaton
Exxon
Scottp
Sears
Ordm
Singer
GaDbyn
Sperry
Texaco
Gillette
Timkoeta Ahert
Bae Ok
Goodyr
Uniroyt
Ty US Sicel
Westge
Gulfdil
Weserh
Rerculs Atm — Whiclpl
Wolwth
Te Xerox
Elfunsrincom
Elfuel
Umeli
NevadaPower
Patable Canadian Funds Mutuals It
Dreyfus
Fidelity-Puritan
Creston Livestock
Pierre R. Smith Co
Acme Cleve
AmerMachFrdry
AmerShip Building
Bendix Ti” Chromallog
Cleveland
Elec
CPC Inter Inc
Emerson
Excello
Goodrich IC Indusines
Lear Siegler
Mid-Continent
Rarlare Sareart Was
Yntaac
Business News Co
Amy Richards
Savings and Loan Associations
S&ls
Columbus
Cincinnat
Tandy Corporation
Citc l
Jamie's Flea Market
Amherst
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!