Market prices sink in Carter shake up market drop
New York stock market fell amid conflicting economic news and a Carter administration shake up. The Dow Jones average slid 162 points to 825.68 early trading as declines outpaced advances 32 to 28 on the NYSE. The Fed hiked the discount rate to 10 percent to curb rapidly growing money supply M1 rose $32 billion last week. The Dow fell 12.0 to 827.30 on Thursday. NYSE volume totaled 2.678 billion shares, with the composite index unchanged at 57.76. At the American Stock Exchange the market value index rose 60 to 194.87.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Fed
NYSE
American Stock Exchange
UPI
Cpa
McLouth Steel
Pew Re Mgm
Ara Motors Oc Mat Co
T& Thed
Marsanio
Armee
Bel How
Mila
Bend
Absco
Fath Steel
Boe Ng Co
Nort
Toiaro
Ind
Comsu
Procter
TM Corte
REAL
Rep Steel
Delkwason
Reya
Bevan
ArchDanl
O&g
Kerry
Nevada Power
Pierre RB
Quasar Pertri Sd
SmithCo
Citians &St
Gus Cpc Internat Ens Inc
Ciyingeit Iron Dart
Detrex Chemind
Amersos A Dorsey
Encelio
Gillette
Frurhaul i
Kansas
Loodret
Industres
Lear
Oanent
Hossay
Laasay
UBS
Cho Kdison
Parker Hann
Ron Seae
Alberta Cubver Smuicker
Ira Amdahl
Bia
Southern Co
Ihe
ArchrDals Mollnd
Au Bel
Wawel
Tappan
Black & Decker
Cleveland Cliffs
Hunt P Chemla
TCO Ltd
Indiana
Town Publyc St
Lazare Kaphin
LoneStar Ind
Reynolds RI Rouse Co
Lantham Inc
Grain price report from Columbus Ohio markets
After markets closed Thursday to open today, Ohio elevators posted cash grain prices with Northeast Ohio showing No 2 wheat 409 per bushel and No 2 shelled corn 296, soybeans at 759. Northwest Ohio lists No 2 wheat 415 and No 2 shelled corn 301, with No 1 soybeans at 769. Trend indicates No 2 wheat and No 2 shelled corn sharply lower while No 1 soybeans decline and No beats higher.
MENTIONED IN THIS ARTICLE
Columbus
UPL
Ohio
Northeast
Northwest Ghia
Collectibles as Investments Limit to 10 Percent of Holdings
The piece notes growing interest in collectibles including precious metals stamps and art. It advises limiting spending to 10 percent of your investment program and planning disposal for tax reasons. It explains tax treatment differences between collector and investor, suggesting a minimum ten year horizon for gains and stressing accurate records insurance and prudent valuation.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
IRS
UAW Wins GM Oklahoma City Representation Vote
United Auto Workers secured the right to represent workers at General Motors new and largest Oklahoma City plant. About 1,479 ballots or 69 percent favored UAW, with 658 against. The win boosts union drives in the Sun Belt as GM and UAW vow bargaining in good faith, while protests press Chrysler talks and Ford contract progress continues in Detroit.
MENTIONED IN THIS ARTICLE
Oklahoma City
UPI
United Auto Workers
Sun Belts
South
General Motors Corps
National Uaw
Gms
Nonumon
National Labor Relations Board
UAW
Carlton Horner
NLRB
Douglas Fraser
GM GM
Detroit
United Auto Workers Union
Chrysler Corp
Chrysler
Ford
Recession Severity Debate Grows Among Forecasters
New York AP reports that President and Fed chair rival forecasts diverge as economists warn of a deeper downturn. Miller predicts a moderate recession with 0.5 to 2 percent 1979 shrinkage, inflation up to 11 percent, unemployment rising to 6.25 to 7 percent this year and 6.9 to 7 percent in 1980. White House foresees a 0.5 percent decline, unemployment at 6.6 percent by year end, inflation near 9 to 9.8 percent this year and 8.1 percent in 1980. Citibank Economic Week cautions the recession could rival 1973 75 for depth if bad luck persists.
MENTIONED IN THIS ARTICLE
New York
White House
Federal Reserve Board
Miller
House Banking Committee
Area business notes cover retirement plans and local education
Nana Lesmick and John B Lambert of Avon attend an advanced retirement planning terminal at the Omaha home office, detailing Keogh plans, IRAs, and tax sheltered annuities. The Lorain County Chamber seeks seminar ideas in its July newsletter, with Lorain County Community College contributing through its Community Education division. Bendix Corp reports a quarterly revenue record of over 1 billion dollars and per share earnings growth of 203 percent for the year so far, while Ohio Bureau of Employment Services will run an employment trailer at the state fairgrounds July 31 to Aug 26 to fill entries for waiter, ticket taker, sales, and other roles, with first-day registration through Aug 14.
MENTIONED IN THIS ARTICLE
Nana Lesmick
Avon
John B Lambert
CLA
Agency
Mutual of Omaha
United of Omaha
Omaha
Albert G Giles
Ohio Bureau of Employment Services
State Fairgrounds
Also Mentioned on This Page
Sargent
G. L. Florida
Anser
LOS Angeles Times Syndicate
Plum Creek Lumber Co
Burlington Northern
Columbia Falls
Mon
Plum Creek
Union
Sun Belt
Axes
Vanessa
Stewart
Dalby
Sanyo
Cleveland
Myra
Elyria
Lorain
T.N. Molas
William Maller
Carter
Citibank
Economic Week
Area Business News
Keogh
Greater Lorain
Excutive
Reid Rollins
Lorain County Community College
Division of Community Education
Bendix Corp
Wiliam M Agee
Giles
Star Builder
Star Building System
Star Builders, Inc
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