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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
May 29, 1985
Page
2
Lorain County Farm Bureau Cooperative Association lists closing grain prices with Wheat at 296 per bushel Shelled corn 264 per bushel Oats 2.10 per bushel Soybeans 541 per bushel for yesterday's market.
Columbus AP reports egg prices to retailers in major Ohio cities deliver cartons with sizes extra large 49 to 54 cents per carton large 48 to 53 cents medium 39 to 43 cents small 26 to 30 cents per dozen or carton equivalent.
New York AP reports closing Comex prices with Gold at 310 1 0 per troy ounce and Silver at 59 88 per troy ounce. Aluminum 4715 cents a pound Copper 71 73 cents a pound Lead 20 21 cents a pound Zinc 46 47 cents a pound Tin 598 per pound Mercury 290 to 295 per 76 pound flask Platinum 271 to 276 per troy ounce.
United Airlines chairman Richard Ferris says the carrier will rebuild with new pilots and crossers, with no benefit in further talks unless the Air Line Pilots Association reconsiders. The union, chaired by Sam O'Daniel, signals willingness to resume bargaining as more than 5,000 pilots strike. United hopes full operations return by the end of Q1 1986.
A United Airlines jumbo jet with at least 300 people aboard blew five of its 18 tires on landing at San Francisco International Airport. There were no injuries, an official said.
FDIC chairman William M. Isaac predicts more U.S. banks will fail in 1985 than in 1984, with agricultural loans in the Midwest the primary stress. He cites about 950 problem banks nationwide, half of 1984 failures due to fraud, and calls for deficits reduction and stronger capital and disclosure rules.
TWA announces a friendly merger to block Carl Icahn's 75 percent stock bid. Salomon Brothers will pursue alternatives offering shareholders better value, while Icahn and observers weigh the plan with mixed expectations.
Kroger Co. completes merger with Hook Drugs forming Cincinnati based supermarket and drug firm. Hook directors approve merger in Indianapolis as required by Indiana law. Hook shareholders approved April 24. Merger terms pay $37 cash or Kroger stock per Hook share, exchange rate 85.4 percent of a Kroger share.
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