BancOhio Chief Sees Profit Hit From Fed Rate Increases
BancOhio Corp. plans show little or no profit in Q1 1980 due to Federal Reserve rate hikes. CEO Robert G. Stevens cites discount rate jumps from 10 to 12 in 1979, then to 13 and a 16 percent penalty, harming earnings while fundamental soundness remains. The bank freezes year-end budgets, cuts nonessential spending, and expects asset yield improvements or new rate structure shifts.
MENTIONED IN THIS ARTICLE
Stevens
Carter
BancOhio
New York
UPI
Federal Reserve
Paul Today
Volcker
U.S
York Stock Exchange
Chase Manhattan Bank
Big Power
Woolworth
Zenith Radio
American Machine
Foundry
Amer Can
AEI
Benny Say
Ammer Motor
Amer TelTe
Cory Cibes
BLY Agmacat
OPC International
Bendis
Ball Howell
Ao Dart Ind
Beth Steel
Emerson Abe Bobbie Brooks
Extello
Boeing
Frushaul
Borg
Goodrich Ui Chessie
Industries
Tin Chrysler Corp
Koebring
Lear Siegler Wy
Colgate
Columbia Gas
Mid-Continent
Gre Edison
Midi Con Edson
Consul
Ohio
Bts Parker Hanmikbs
Cook Tin
Bu Searle
Dayton
Smucker Southern Co
Edison
Aybran
Toledo Edison
Eastern Ar TM
Daan Pacific Corp
Ekadsk
Adhe Eaton
Evans P
Firestone
Ford Motor
Elec
Gen Foods
Gen Motors
Goodyear
Ma Grace
A&p
Gulf
Habna Mining
Monsanto
Matarla
Nabisco
Natl Steel
Norfolk
Owen Cfi
Polaroid
Indus
Procter
Tenneco
TRW Inc
W Corp
Me Wal Inci
US Steel
West Union Law Farm
Wistvac
Perkal Hale
Trregular Nati
Univ Riesttri
Ohno C
Lope AL
Friedman
CrowleyMilner
Ltd Products
EASED
Brenton Banks
Cole
Petrolite
Bel Alijed Prod
Bro-Dart Ind
Chart House
Ak 328
Calnt AmBrishr
Crowley Miner
DiGiogio Op
Dorchester Gas
Drexel
Earth Resources
Heinz HJ
M&t
McCormick & Co
TransamancoShi
Volunter Ngas
Worcester
Zieglerle
Refinery workers return after tentative oil strike settlement
Striking Oil, Chemical and Atomic Workers union members begin returning to work at Gulf Oil and Cities Service refineries after tentative deals. Gulf offers include a small wage raise and health and dental costs. union accepts as first step to end the longest refinery strike.
MENTIONED IN THIS ARTICLE
Oil, Chemical and Atomic Workers Union
Gulf Oil Co
Cities Service
Lake Charles
Gulf
OCAW
Houston
Port Arthur
Texas
HJ. McClain
Texaco
Casper
Wyo
Oil Policy Bargaining Committee
Denver
Amoco
Government to buy meat via computer marketing program
Agriculture Secretary Bob Bergland said the government will be ready to buy meat for school lunches and other programs by computer by this fall, with a pilot test using an electronic system developed by American Meat Exchange Inc. and aided by General Electric. The Pentagon will assist in installing equipment, linking buyers and sellers to a central computer, and boosting competition. The department will buy meat on a competitive basis, allowing bidders to use the system or traditional methods.
MENTIONED IN THIS ARTICLE
Washington
UPI
Agriculture
Bob Bergland
Bergland
Agriculture Department
American Meat Exchange Inc
Elmhurst
Ill
General Electric
Pentagon
U.S. seeks $5.4 billion IMF quota rise to aid debt relief
The administration asks Congress to lift the U.S. IMF quota from 10.9 to 16.3 billion to help close the gap between a large OPEC surplus and rising non-oil third world debt. Fed official Wallich says the move would boost U.S. trade and not widen the deficit, with IMF reform needing 75 percent approval.
MENTIONED IN THIS ARTICLE
Washington
Senate Foreign Relations Committee
U.S
IMF
Organization of Petroleum Exporting Countries
Wallich
United States
Import dealers inventories tighten as Japanese lead
UPI reports 41 day supply for all importers at month end with Japanese makers dominant. Toyota shows 26 day stock, Nissan down to 24 days as European makes exceed 200 days. Despite tight inventories some importers doubt near term sales impact. Ward's data notes February totals and the share of Japanese cars in stock and in sales.
MENTIONED IN THIS ARTICLE
Detroit
UPI
U.S
Japan
WARD
Automotive Reports
Industry Trade Journal
Ward's
Toyota
Chrysler Corp
Nissan U.S.A
Lorain County approves 10 building projects in Jan Feb
Area building news notes that ten Lorain County projects totaling over 750000 were approved by Ohio division of factory and building inspection with the Barge Office Building at 3409 B Liberty Vermilion valued at 175000 as the principal project. Statewide, over 76 million in construction plans were approved outside city and county jurisdictions. The Grafton Merchants Association plans a July 4 tobacco spitting contest merchant sponsored sales and a repeat Santa Claus and Scrooge event. Newly elected officers for 1980 81 are Donald Fuering president Sam Laurie vice president and Leslie Ester secretary treasurer.
MENTIONED IN THIS ARTICLE
Lorain County
Ohio Department of Industrial Relations
B. Liberty Boulevard
Vermilion
Grafton Merchants Association
Donald Fuering
Sam Laurie
Leslie Ester
AmeriTrust sees capital upturn for Great Lakes industry
AmeriTrust Corp 1979 annual report projects renewed capital investment in the Great Lakes region with gains in auto and aircraft sectors. It urges tax policy reforms at federal and state levels to spur new plant and equipment spending. The Chronicle Telegram hosts a Lorain County real estate seminar at the Elyria Lorain Holiday Inn on April 1 at 9 a.m. with Ted MacDonald of Lafayette Ind. speaking on effective real estate marketing and advertising.
MENTIONED IN THIS ARTICLE
America
Great Lakes
AmeriTrust Corp
Chronicle- Telegram
Elyria-Lorain Holiday Inn
Lorain County
Ted MacDonald
MacDonald Classified Services
Lafayette
Ind
Engravers group to host James Farrell speaker
Northern Ohio Engravers Association invites members to a May 12 meeting at the Holiday Inn Rockside with James T. Farrell founder of the Engravers Journal as guest speaker followed by a Q and A session. Dinner and program cost 20 dollars for members 25 dollars for non members with cash bar. Call Rocky River 333 7417 for details.
MENTIONED IN THIS ARTICLE
James T. Farrell
The
Engravers Journal
Northern Ohio Engravers Association
Holiday Inn
Rockside
Rocky River
Elyria Couple's Daughter Cited For Excellence Award
Catherine H. Farrell of Elyria received an award for excellence from Systems Research Laboratories Inc of Dayton. She works as a programmer in the computer systems division and is the daughter of Mr and Mrs James Farrell.
MENTIONED IN THIS ARTICLE
Catherine H. Farrell
Systems Research Laboratories, Inc
Dayton
James Farrell
Elyria
Markets Open Mixed As Grain Prices Reported In Ohio
Ohio grain prices show mixed results with Northeast and Northwest areas listing wheat at 2.83 and 3.86 per bushel, corn around 2.34, oats about 1.40 to 1.63, soybeans near 5.80 to 5.92. central values vary by region while trend notes indicate wheat down and corn, soy unchanged. Lorain County figures cite wheat 3.87, corn 2.37, oats 1.67, soybeans 5.88 per bushel. also mentions local political filings by Stringer and Bara with petitions due Thursday at 4 p.m.
MENTIONED IN THIS ARTICLE
Columbus
UPI
Ohio
Northeast Ohio
Northwest Ohio
Central
Lorain County Farm Bureau Cooperative Association, Inc
Also Mentioned on This Page
Fed
BancChip Banks
BancChio
Banc- Ohio
Ram
Tues
By Deborah Frazier
United Press International
McClain
Jim Gatten
Robert F. Goss
Goss
Sonja Hillgren
House
Small Business Committee
Yellow Sheet
Chicago
U. S
By Juan J. Walte
I MF
Area Business News
Grafton
C-T
Area Engravers
Insurance & Bonding Agency
Larain
Cecc
Okvortiy
Middle Ave
Ohya
Cleveland
Cimetimaty
USDA
Milwest
Daniel P. Stringer
John Bara
Mutuals Amer -Wash Mutual Oy
Dreyfus
Fidelsty-Puritan
Vanety Re
John Hancock
Union Sve -Broai
Vanguard
Ivest Bos RL
Wellington
Mid-Ohio Securities Corp
Broad St
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