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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 29, 1985
Page
6
AP reports yesterday nonferrous metal quotes with copper at 58 cents a pound and lead 21 cents. zinc 43 cents. tin at 57011 per pound. aluminum 35 cents. gold at 302.90 per troy ounce. silver 430.2 per troy ounce. mercury 313.89 per 76 lb flask. platinum 270 274 per troy ounce.
Lorain County Farm Bureau reports local grain bids from semercars market with Wheat 322 per bushel Shelled Corn 274 Oats 215 Soybeans 588. Creston Auction lists 440 consignors selling 1026 head of livestock including one goat and one pony. Calves hogs cattle prices and feeders shown with various grades and prices across categories.
The Treasury sold seven billion in three month bills at 7.76 percent and seven billion in six month bills at 7.97 percent. Rates rose from last week and mark the highest levels since early January. Overall, short term yields trended down from September peaks but moved higher Monday. General Motors plans Lansing axle plant to convert to car production by 1987 with about 500 workers retained.
The Commerce Department reports personal incomes rose 2.0 percent in the third quarter, led by Georgia with a 2.9 percent gain driven by payroll jumps in construction and tech. Alaska Florida followed at 2.8 percent, while West Virginia posted only 0.5 percent, trailing inflation.
Ohio's non farm personal income rose 1.5 percent in Q3 1984, ranking 41st nationally, with manufacturing and mining payroll declines. Construction and private service payrolls grew but below national averages, while overall personal income rose 16 percent from Q2 1984 and 8.6 percent from Q3 1983. Brown notes weak steel orders and coal output as factors.
General Mills said it is exploring the possible sale of its toy and fashion businesses after establishing inquiries and hiring Dillon Read. The two groups contributed about a quarter of 1984 sales and profits, with Izod Lacoste and Parker Bros. among the brands.
Eastern Airlines has retained Murphy Weir and Butler of San Francisco to explore alternatives if renewed labor union aid fails. The move comes as unions previously agreed to a 367 million wage and productivity plan that cut 1983 losses, with a Thursday deadline for new deal terms to avoid default and debt acceleration.
Cleveland AP reports Standard Oil of Ohio plans to sell its agricultural division to Terra Chemicals International Inc in Sioux City Iowa by the end of February. The deal will eliminate Sohio's agricultural unit with 118 Sohigro outlets across Ohio Michigan Indiana Missouri and Kansas. Terra reported last year sales near 160 million. Terra is part of Inspiration Resources Corp New York.
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