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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 15, 1985
Page
4
Creston auctionday saw 327 consignors market cows hogs and hay. Prices ranged on hogs from 22 to 60 per head with sows and boars varying by type. cattle included choice steers 65 to 67 dollars and good beef cows 40 to 43. Hay and straw topped at 59 to 67 dollars per ton or bale with straw at 135 to 137. Load counts and exact lot details unavailable due to fragmented OCR.
Spot nonferrous metals moved with copper at 63 to 66 cents per pound, lead 18 to 23 cents, zinc around 45 cents, tin at 5 7120 dollars per ton, aluminum 49.15 cents, gold 30290 per troy ounce, silver 60.16 per troy ounce, mercury 313.8321 per 76 lb flask, platinum 276 to 278 per domestic merchant troy ounce.
The Christian Science Monitor notes automakers have raised 1985 car and truck prices again, the first across the board rise since 1980. General Motors leads with a 2.3 percent base price rise, Chrysler 0.9 percent, AMC 1.2 percent, with Ford holding firm for now.
Manufacturers Hanover Trust cut its prime lending rate to 10 percent from 10 3 4 percent, effective Tuesday, signaling a shift to a lower cost of funds. Analysts expect other banks to follow with cuts, with some predicting rates may dip to 10 percent before spring as banks reassess business conditions.
Washington AP. Treasury data shows three month bills sold at 7.74 percent average discount, down from 7.78 percent last week, while six month bills sold at 8.05 percent average discount, up from 8.02 percent. Three month rate is its lowest since 7.62 percent on Jan 17, 1983, and six month rate is the highest since 8.19 percent on Dec 28 of last year.
The sagging British pound rose slightly after Prime Minister Margaret Thatcher ordered a rate increase to reactivate the minimum lending rate. Traders described the step as too little too late as the currency fluctuated from $1.10 to $1.13 earlier, opening morning in Hong Kong at $1.1187 and London trading near $1.12.
Eggs sold to retailers in major Ohio cities with carton deliveries. Prices for Extra large 50 to 53 cents, Large 48 to 52 cents, Medium 38 to 43 cents, Small 28 to 32 cents. Producers report high prices and hens in short supply.
Nestle Holdings Inc has purchased all stock of Hills Bros Coffee Inc of San Francisco. Hills Bros will operate as an affiliate with current management remaining, while sales and marketing stay with Hills Bros. The purchase price was not disclosed. Hills Bros had earlier acquired Chase & Sanborn assets including facilities in New Orleans, Miami and Casa Grande. The move aims to market a full line of coffee nationwide with brands from Hills Bros Chase & Sanborn and Nestle Foods Corp.
U S Census Bureau figures show Ohio retail sales climbing from 35 billion to 46 billion over five years led by grocery stores. Stores declined from 83 471 to 79 656 while statewide grocery sales reached 10.3 billion, a 42 percent gain.
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