Metzenbaum presses broader banks bill on poor account access
Sen. Howard Metzenbaum urges banks and S&Ls to cash government checks up to 1500 for nonaccount holders with valid ID and to offer low cost accounts from 25 to 1000 dollars with monthly statements and up to 10 withdrawals. Banking lobbyists counter that banks should serve the poor without new public mandates while amid S&L bailout debates.
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Howard Metzenbaum
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Paramount bids 10.7 billion for Time to derail Warner merger
Paramount Communications offers 175 a share in cash for all Time Inc stock to block Time Warner tie up. The bid, 60 percent above pre-announcement levels and 39 percent above Tuesday close, targets timely shareholder vote and signals a protracted battle for control of Time Inc. and its publications.
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Metal prices rise and fall in New York trading
AP reports Comex closing prices: Gold 367.50 per troy ounce, Silver 52.64 per troy oz. Merc prices Platinum 503.60, Palladium 158.80. Spot nonferrous: Aluminum 0.93, Copper 1.064 per lb, Lead 0.37-0.38, Zinc 0.85, Tin 16.15 per lb. Mercury 310-320 per 76 lb flask.
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