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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 06, 1987
Page
11
The Treasury sold 7.6 billion dollars in three month bills at 5.53 percent average discount, down from 5.68 percent. Another 7.6 billion in six month bills sold at 5.55 percent, down from 5.68 percent. Rates for both maturities mark the lowest since late December.
The Dow Jones average rose 44.01 to 1971.32, surpassing prior highs as volume reached 181.85 million shares. Gainers outnumbered losers 7 to 1 amid renewed buying after year-end tax selling.
Kmart plans to add deposit accounts and mortgage lending in numerous stores via agreements with First Nationwide Bank and United Savings of America. First Nationwide will open at least 150 new banking offices in Kmart stores nationwide, with 100 in several states and 50 more through franchise arrangements. United Savings aims to operate banking centers in Illinois Kmart locations, expanding from six units in Chicago suburbs to 60 or 70 outlets Downstate, while also running a unit in Carson Pirie Scott's Chicago Loop store.
People's Savings Association of Toledo merged with First Federal Savings Bank of Cleveland creating a combined asset base of about 1.5 billion dollars. The deal received regulatory approval last month and was announced to employees Monday night. John Mason emphasized strengthening Toledo area growth through enhanced services and funding. Charles Koch noted two years of negotiations.
A Creston livestock sale reports 289 consignors selling 652 head Monday. Calves ranged from 40 to 62 dollars with medians around 40. cattle included good and choice steers and heifers with prices mostly between 28 and 60 dollars. Hogs and sheep showed mixed results, hay and straw lots counted among offerings with varying per ton or per bale figures.
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