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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 22, 1984
Page
7
The Dow Jones industrial average drops 3.76 to 1,123.45 in early trading as rates pressures rise. Major issues including U.S. West Chrysler and IBM retreat while Bethlehem Steel holds steady. NYSE volume climbs to 123.38 million shares and the composite index slips marginally.
Spot nonferrous prices listed yesterday show copper at 67-71 cents per pound, lead 28-30 cents, zinc 52-53 cents, and tin at 62895. Aluminum quoted 81 cents. Gold at 373.40, silver 86 per ounce, mercury 320-330 per 76 lb flask, and domestic platinum around 382.00-383.60 per ounce.
The Bendix Corp at 901 Cleveland St Elyria has won a $187,746 Defense Construction Supply Center contract in Columbus. The deal covers compressors for U.S. military units worldwide. Local note mentions Egg sales and wholesale egg price report in Chicago.
Oberlin for profit subsidiary of the National Association of College Stores closed its fiscal year with a record 10 million dollars in gross sales. The spokesman noted net dollar and unit sales rose significantly, with over twenty percent growth in net sales. Elyria mall upgrades planned this summer initiate lighting and paving work on an 18 year old lot.
Lexitel Lexi tel Corp of Birmingham Michigan begins providing Elyria with ELYRI-MAX a low cost long distance option. Spokeswoman Cynthia M Almas reports 62000 plus customers 460 employees and $51 million annual revenue. Elyria potential annual long distance bill is about $1.18 million.
The Labor Department reports consumer prices rose 0.2 percent in May, held by a drop in food costs and a small 0.2 percent gain in gasoline. Inflation for the year runs at 4.6 percent per the CPI, with energy showing gasoline below its 1981 peak by 11.8 percent.
Martha Seger, nominated to the Federal Reserve Board, endures hours of questioning by Senate Democrats during three days of hearings. The Central Michigan University economist, who has a broken arm, offers cautious, low-key responses with rare humor, steering clear of potentially controversial specifics while resisting claims of strong Reagan loyalty.
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