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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 26, 1984
Page
4
New York retail, airline, financial and oil service shares led the downtick as the Dow Jones industrial average fell about 5.3 points to 1125.22 after roughly half an hour of trading. Declines outpaced advances on the New York Stock Exchange amid a mixed prior session.
AP reports yesterday nonferrous metal prices in New York with COPPER at a few cents higher per pound, LEAD 28-30 cents, ZINC 52-56 cents, TIN around 63521, Aluminum 81 cents, and precious metals quoted: GOLD 369.25, SILVER 84.15 per ounce, MERCURY 320-330 per 76 pound flask, PLATINUM 392-383 per troy ounce.
AP dispatch notes mixed egg price activity with Columbus reporting large shipments and tight hen supply limiting reports while Chicago wholesale price data show small changes in buying prices. Nest run stocks and various classifications noted with unsettled listing of sizes and figures.
Creston buyers and sellers moved 1422 head from 394 consignors at the Creston Auction on Monday. Calves brought from 40 to 96 dollars, hogs and pigs sold at 25 to 50 dollars per head, cattle led with choice steers at 63 to 65.75 and good heifers around 61 to 62.50, while feeders and canners showed varying prices across beef and dairy breeds.
In Charleston, West Virginia, retirees claim Monsanto officials knew dioxin chemicals at the Nitro plant endangered workers but pursued work for money. The lawsuit, part of a larger case with 170 plaintiffs seeking over 2 billion dollars, could unfold over six months with testimony focusing on eight chemicals including 24,5 T and 2,4 D. The plaintiffs allege harm from cancer to nervous disorders. Monsanto says it warned workers and met safety standards.
DETROIT AP The summer car buying season starts strong with mid June sales up 124 percent from a year earlier. Six major manufacturers report June 11 20 as the best period in six years keeping year to date pace about 27.8 percent ahead. GM averaged 17 046 daily sales 12.1 percent higher. Ford 7 034 daily up 13.7 percent. Chrysler 3 605 daily up 10.5 percent, not counting 667 daily Dodge Caravan and Plymouth Voyager minivans listed as trucks.
Cleveland Harshaw Filtrol Partnership will abandon its Cleveland headquarters for a Beachwood research lab and Pepper Pike executive offices. The move, starting in October, aims to cut operating expenses cited as a reason for leaving Cleveland. Meanwhile Midland-Ross Corp. will receive about 45.5 million from the Pritzker family for up to 18 percent of shares, becoming the largest single shareholder without board representation.
Banks increased the prime lending rate to 13 percent, the highest since 1982, drawing Reagan’s rebuke that there is no excuse for rates this high. The White House called the move disappointing as economists foresee further rises. The shift strengthened the dollar and unsettled Latin American borrowers tied to the rate. Reagan told farmers investors keep rates high due to fear of inflation but pledged to fight it.
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