Market Slips as Oil OPEC Meeting Looms In Geneva
The Dow fell 2.08 to 647.02 in early trading as investors awaited OPEC pricing talks in Geneva. Officials at the cartel prepare decisions on output and prices for upcoming months. OPEC had set $14.55 per barrel three months ago, with surcharges lifting some grades to around $21. Saudi Arabia remained the exception to higher charges.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Gamera
New York Stock Exchange
OPEC
Saudi Arabia
Gold price hits new record high
In London and Zurich gold reached record trading highs as the dollar weakened. London dealers fixed the price at 284.50 an ounce, up from 282.25, with an afternoon fix anticipated. In Zurich the price was just below London at about 284.375, up from 283.875.
MENTIONED IN THIS ARTICLE
London
Zurich
Geneva
OPEC
AmShip Union Files NLRB Charges Over Bargaining
Lorain representatives of American Shipbuilding Co Boilermakers Local 358 filed NLRB charges accusing the company of bad faith bargaining during the ten month Lorain yards strike. Union leaders refused the latest proposal May 31, prompting chairman George Steinbrenner III to withdraw the offer. No talks have occurred since then. an NLRB administrative law judge is expected to oversee the case.
MENTIONED IN THIS ARTICLE
Lorain
American Shipbuilding Co
National Labor Relations Board
Lorain Yards
Rank and File
George Steinbrenner III
NLRB
Poly Mer Corp Hose Design Aims To Prevent Layer Separation
The Poly mer Corp Reading plant reports a nylon braid covered Nyloflow hose with three chemically bonded layers to stop telescoping or delamination. The hose, used in auto air conditioning refrigeration agricultural and construction equipment, is a product of ACF Industries subsidiary.
MENTIONED IN THIS ARTICLE
Polymer Corp
Reading
ACF
Finley on finance and the myth of stock picking systems
A reader critiques endless claims of a secret stock market system. He argues a truly successful investor must start small, test ideas, and learn by doing. He likens infallible forecasting to turning lead into gold and urges disciplined rule based investing and open sharing of findings. He warns against overhyped systems and advocates patient, tested approaches.
MENTIONED IN THIS ARTICLE
AE Han
Family Keeps Mother Hilda at Home Despite Illness
The large family of Mother Hilda chose home care over nursing home life as arthritis gradually confined her to bed. At 70 she began housebound, four years ago partial bedridden, and 14 years ago total bedridden with pain. They preferred intimate supervision to honor her alert mind and bonds among eight children and 13 grandchildren.
MENTIONED IN THIS ARTICLE
Mother Hilda
Hilda
Rochester
N.Y
Lily
Ptl
Willian Curtis
Humane Society
Federal oil leases under fire in bid to halt sales
A coalition of consumer groups filed suit to block 170 federal offshore oil and gas leases arguing the cash bonus fix royalty system wastes national resources. Energy Action pressed for a preliminary injunction as Justice Department lawyers sought to avoid a court showdown.
MENTIONED IN THIS ARTICLE
Washington
UPI
Washington Based
Energy Action Group
Justice Department
James Flag
Energy Action
California
Bruce Rashkow
Marine Resources
Rashkow
U.S
Aubrey Robinson Jr
United States
Perkins Diesel to be shut down in Canton Ohio
Massey Ferguson of Toronto will close Perkins Diesel Corp in Canton effective October due to low demand for farm and industrial engines. The plant ran at about 25 percent capacity, employing about 400 workers. Canton Mayor Cmich hopes for a multimillion-dollar U.S. tenant by year end.
MENTIONED IN THIS ARTICLE
Cleveland
UPI
Massey-Ferguson Ltd
Toronto
Canada
Perkins Diesel Corp
Canton
Massey-Ferguson
Victor A. Rice
Rice
Massey- Ferguson
Ohio
Perkins
Akron
White Motor Corp
Stanley A. Cmich
Also Mentioned on This Page
York
Mob Corp
Momanute
Coan
Mabieca
Bell Howell
Petre
Beth Sinet
Farmer
Ratton
Colgan
Randi
Egat Kodak
Eaton
US Steel
Western Union
Gan
Crea
Woolworth
Pherre R
Jim Roberts
Stock Otter
Ing
Perspectus
Cheanty
It Maberts
the. Chime
JM Worldis Pipe B Plastics Corp
Sal Boulevard
Canton Ghio
AmShip Union
AmShip
Ren Ba Ba Lae Tera
John B. "Simpson
Finley
Harold Finley
Chicago Tribune
Ben
End
Ralph Nader
Elyria
Wall Street Journal
Nader
Omar
Mid-Ohio Securities Corp
Broad St
Byrla
Netionel
Lornley
Perkins Diesel
Wackenhut
Security Services
Shah's
Northeastern
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