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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
May 10, 1983
Page
5
New York markets opened with gains as the Dow Jones Industrial Average rose 0.97 to 1,229.20 in the first half hour. More issues advanced than declined on the NYSE. Analysts blamed a shift to lower priced stocks as traders seek profits after a nine month surge.
AP reports varied wholesale and retail pricing in the Midwest and Northeast. Eggs show mixed retailer moves with class large at 36 earlier, while nonferrous metals price quotes include zinc at 40 cents, aluminum 78 cents, silver around 12.59 per troy ounce, and platinum near 435 dollars per ounce, with New York listings from Handy & Harman.
In Creston a Monday auction sold 1,120 head from 358 consigners. A dairy cow brought 470 dollars, four goats sold between 10 and 31, and a horse realized 270. Hay and straw moved in 16 loads with first cutting 95 to 140, second cutting 115, straw by the bale 65 cents to 134, and hay by the bale one dollar.
Lorain County Farm Bureau Cooperative Association released yesterday closing grain prices for the local market. Wheat sold at 3.328 per bushel, shelled corn at 2.99, oats at 1.65, and soybeans at 5.97 per bushel.
A divisional price list shows hogs, cattle, and feeders with wide ranges. Hogs top at $46.50 per cwt for number ones and $31 per head for pigs, while cattle prices span steer values from $46.69 to $69.10 and cows from $38. to $48.75. Feeder and bull figures appear scattered, with miscellaneous notations for commercial and canner categories.
Washington lawmakers urge rejecting Chrysler’s push to give up as much as 200 million dollars in profits from warrants tied to a 1.2 billion dollar federal loan guarantee. Chrysler officials say stock options could dilute shares. lawmakers cite taxpayer interests and government leverage.
Former Vice President Mondale proposes a tunnel like band within which currencies move to keep the dollar at a realistic value relative to major European trading partners. He seeks fixed ranges, alongside cutting deficits and pressuring allies on rates, ahead of a G seven summit in Williamsburg.
Washington reports short term Treasury yields edged up after auctions. About 6.2 billion in three month bills sold at 8.14 percent, and 6.2 billion in six month bills at 8.13 percent. Discount rates understate returns, with ceilings for rates on six month money market certificates up to 8.65 percent for savers.
Theodore J. Tung of Rocky River becomes vice president and chief economist at National City Bank after roles at Central National Bank of Cleveland and Continental Illinois. John D. Rutherford of Maple Heights travels to Birmingham for a zinc alloy seminar sponsored by Noranda. Ridge Tool Co. Securities Parks and Wargo form Parks & Wargo in Columbia Station. W.H. Yambrovich of Litchfield becomes licensed auctioneer. Six Lorain Prudential staff members reach Leaders' Roundtable. Donald D. Miller of Amherst joins Springfield NL’s President's Club.
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