Buyers still cautious in early stock market slide
New York stocks fell modestly as the two week slump continued. The Dow Jones industrial average dropped 42 points to 1,265.60 in the first half hour, with losers ahead of gainers on the NYSE. Analysts cited uncertainty about interest rates and the federal budget deficit as keeping traders cautious while Commerce Secretary Baldrige said no meaningful deficit action is likely until next year, urging spending cuts though Congress resists.
MENTIONED IN THIS ARTICLE
New York
Rsenac
Malcolm Baldrige
Secretary of Commerce
Reagan
Congress
Michael Evans
Evans Economies Inc
Commodity and egg price roundup across markets
New York spot nonferrous metals quoted Copper 65 5s 68 cents a pound Lead 24 28 cents Zinc 51 cents a pound Tin 62 560 cents Aluminum 81 cents a pound Gold 274 75 Silver 8000 per troy ounce Mercury 405 dollars. Col umbus Ohio eggs to retailers delivered cartons white mostly 123 132, medium 121130 mostly 127128. Chicago Mid West Hog price report wholesale buying mixed.
MENTIONED IN THIS ARTICLE
New York
Handy & Harmon
Troy Omer
Columbus
Ohio
Des Cartons
Cash only stations expanding in Ohio market
The Standard Of Co expands its cash only gas stations in Ohio with 15 Cleveland and eight Akron Canton sites converting by March 1. Dayton area cash station tests began last April and credit card presence remains at other sites. Ritzy's reports 1983 Q4 profit of 40,000 on 3,037,000 revenue, reversing 1982 Q4 losses. full 1983 revenue 9,013,000, net loss 809,000 with 58 restaurants. Ford Batavia transmission plant to idle two weeks starting Monday, affecting 1,500 workers, as inventories shrink amid slower auto sales. 1,000 production staff to furlough, plus 500 later.
MENTIONED IN THIS ARTICLE
The
Standard of Co
Ohio
Solo
Dayton
Cleveland
Akron-Canton
Hi D. Hanna
Sahow Art
Ritzy's
Ford Motor Co
Batavia
Lorain National reports record earnings in 1983
Lorain National Bank posted a record net of $2 million for 1983, a rise of $523,000 or 34.6 percent from 1982. Earnings per share were $2.25 after security transactions, compared with $1.67 in 1982. Deposits climbed to about $198 million, loans surpassed $118 million, and total assets reached nearly $223 million, up over $22 million or 14 percent.
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Associa- Barerstoovf
Arizona
Fetisignup
Fed
lSignlt
FrsamBat
Hydettic
McDalasCorp
Arsindus
RugtTate
Lorain
Lorain National Bank
Stanley G Pyer
Six firms close in two months hit Toledo jobs
The AP reports six Toledo area plant closings in two months have cost more than 550 jobs since December. Reliance Electric will close its Toledo Scale division in September, moving 140 workers to South Carolina. Lily Tulip moves 120 staff to Augusta, Georgia, as AP Parts threatens a move unless concessions. Other firms downsizing include Strong Electric 64 jobs, Babcock Dairy 30, Ransom and Randolph 100, and Bostwick Braun 80 moving to Ashley Indiana. Mayor Owens forms economic task force as downtown retail suffers with Macy’s and Petrie’s closing.
MENTIONED IN THIS ARTICLE
Toledo
Paul Kozlowski
University of Toledo Management Center
Reliance Electric Co
South Carolina
South
Lily-Tulip Inc
Georgia
Augusta
AP Parts Co
Civang Gown
Strong Electric Co
Babcock Diary
Ransom & Randolph
Bostwick-Braun Co
Ashley
Ind
Donna Owens
Kozlowski
Economy shows 1983 growth at 3.3 percent
The Commerce Department reports the 1983 economy expanded 3.3 percent, rebounding from recession lows with strong consumer spending and business investment but facing downside risks from a high dollar and late-year slowdown. Economists warn about a possible sharper pullback in early 1984 despite overall upbeat projections.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Medical Mutual fights Ohio over $9 million rate hike
Medical Mutual of Cleveland sues the Ohio Department of Insurance to keep a $9 million rate increase approved in December and rescinded by a Jaw 12 order. The suit asks Franklin County Common Pleas Court to rule on legality as 94,174 non group subscribers are billed under the disputed rates while funds are held in escrow.
MENTIONED IN THIS ARTICLE
Columbus
Medical Mutual of Cleveland
Ohio Department of Insurance
Franklin County Common Pleas Court
George Fabe
Medical Mutual
Fabe
Andromeda Monroe
Also Mentioned on This Page
Lland
Meerh
Jue Britte A AmHes
MerLy
AmCan
Mobil
AG Psao
Monsan
Agah
Murryo
Aurich
Nwstair
BaxtTy
Owens
Streatts BellSowi
Panam
Lg ParkPn
Boeing
Carrols
Ms Pennes
Cola
JTF
RalsPur
Royll
Sears
Exxon
Getty
Texaco
Goodyr
Sir Harris
Tnexco
Unocal
Intrist
Valero
Mutuals
Dreyfus
Fidelity Puritan
Inve Vanety
Fassfin-Mit Nse
Vanguard-Ivestib
Vangrd-Wellgin Wal
Ritzy’s
Ford
Jim Olson
Detroit
Lorain National
Tong Elonolul Pevessian
United Auto Workers
AP Parts
Lily Tulip
Marcy Kaptur
Ms. Kaptur
Mike Schinsky
Toledo Area
Borer-Freeman
Thoreige Srage
Inaue
Cleve
State
Jerome W. Rogers
Blue Shield
Stoge
Broad ST. Loram
Elyria
BYU
Emerson Quiet
Stewart's
Cleveland St
Elyria One
Tara
Rus
Medicine Shoppe
Rvs Aear
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