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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 12, 1984
Page
9
The market opened lower on Tuesday with the Dow down to 1,111.31 in early trading as interest rate worries persisted. Analysts note rates near 1982 highs, with little relief expected, and volume showing more declines than advances on the NYSE.
AP dairy brief notes retailer sales in major Ome cities with carton sizes from extra large to small and prices ranging from .27 to .72. Midwest wholesale egg prices were largely unchanged with reported classes large medium and small and nest-run breaking stock at .46 through 41.
New York quotes show copper at 69 1/2 to 72 cents a pound for U S destinations, lead 26 to 28 cents, zinc 52 to 53 cents, tin at 63954, aluminum 81 cents, gold 382.50, silver 8 8 00 per troy ounce, mercury 322 to 335 per 76 lb flask, platinum 4391 to 394 domestic merchant troy ounce.
Creston buyers and sellers arranged 275 consignors with 859 head sold Monday. Highs included dairy heifer at 455 dollars and 11 goats 4 to 28. calves, hogs, sheep, and cattle fetched varied prices across categories. Continuous price ranges reflect mixed lots and farm returns for the local market.
Business executives aim to lift capital spending to 309 billion this year, a 14.8 percent rise and the largest since 1966 after inflation adjustment. The move caps a mixed market day as stocks fell sharply amid renewed fears of higher interest rates and a potential credit crunch. Manufacturers use about 82 percent of capacity, up from 68.8 percent post recession, fueling expansion and modernization.
Epson unveils the Elf a pocket sized color television at the 1984 International Summer Consumer Electronics Show in Chicago. The TV is about one inch thick and weighs about one pound AP reports.
AmeriTrust Corp officials declined to comment on a Wall Street Journal report that the Cleveland holding company had bid on a Denver based Central Bancorp group, owned mainly by Baldwin United, which filed Chapter 11 last September. The article notes a stock runup linked to the speculation but cites no substantiation from AmeriTrust or Central Bancorp. A Cincinnati attorney said the bid appears more than adequate though still subject to bankruptcy, creditors committees, court and regulators.
U S government auctions Sunday sold 12.8 billion in new securities splitting half into three month bills at a 10.07 percent average discount rate, up from 9.9 percent, and half into six month bills at 10.66 percent, up from 10.57 percent. The rates marked the highest levels since July and August 1982. Avon Lake BFGoodrich center held a five hour plastics and latex symposium with about 100 employees and researchers from Brecksville and Lehigh University. Awards were given to several employees by group R&D vice president Michael M. O'Mara.
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