Stocks Open Lower As Markets Reflect Rate Hikes
Stocks opened lower on the New York Stock Exchange with the Dow down to 955.54 as declines outpaced advances 522 to 153 amid 931 issues traded. The slide followed renewed worries over rising interest rates after Chase Manhattan and Citibank raised prime rates to 14 percent, signaling tighter policy ahead.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Chase Manhattan Bank
Salomon Brothers
Henry Kaufman
Citibank
Grain price report from Ohio grain elevators
UPI reports average cash grain prices paid to farmers in Ohio by elevators after market close Thursday to today. Northeast No 2 wheat 4.40, corn 2.98, oats 1.78, soybeans 7.57. Northwest 4.55, 2.97, 1.67, 7.71. Central 4.37, 2.90, 1.86, 7.68. Trend: wheat and oats steady, corn and soybeans sharply lower.
MENTIONED IN THIS ARTICLE
Columbus
UPI
Ohio
Northeast Ohio
Northwest Ohio
Grain prices from county cooperative market close
Local grain cooperative market closes with prices for Thursday: wheat 4.33 per bushel shelled corn 2.91 per bushel oats 1.91 per bushel soybeans 7.62 per bushel. Pricing reflects standard market reporting for buyers and growers in the area.
GNP rises 1 percent in third quarter economy rebound
The Commerce Department reports GNP increased 1 percent in the July September period after a 9.6 percent second quarter drop. Preliminary figures show a 1 percent rise in GNP and output at an annual rate of 2.58 trillion dollars. Personal income grew 0.9 percent in September while consumer spending cooled. The Fed notes a 1 percent rise in industrial production for September, the second consecutive uptick after six months of decline.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
Sonally
Federal Reserve Board
UAW Local 1250 chief blasts censure letter over tax views
Thurman Payne president of UAW Local 1250 at Ford Brook Park says a censure letter from CAP Council President Donald Coleman violates his First Amendment rights. Payne challenged the union stance against a proposed city income tax, arguing leadership misled locals about financial reports. He vows to keep speaking on issues vital to members of Cleveland area.
MENTIONED IN THIS ARTICLE
United Auto Workers Union
Thurman Payne
UAW
Ford Motor Co
Brook Park
Cuyahoga County
Council
Cleveland
Payne
Tootsie Roll: From penny candy to growing powerhouse
NYU reports on Tootsie Roll Industries, led by Melvin and Ellen Jordan, a husband and wife team who run the NYSE firm from Chicago with a strong family culture. Sales rose to about 69.6 million in 1979 as they push for growth through new products, overseas markets, and selective acquisitions while managing sugar cost pressures. The Jordans blend personal and business lives, keeping close ties with employees and maintaining the brand’s classic wrapper appeal.
MENTIONED IN THIS ARTICLE
Melvin Jordan
Ellen R. Jordan
Jordans
Chicago
Leo Hirschfield
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Werea Boosters
Berea
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Claire Spooner
New YO York
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Bandy & Harman
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He Avco Corp
Ivers
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Clark Owl
Cleve Etec
ElPaso
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Litton
MarMidi
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PallPet
SCM Corp
Toledo
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American Machine & A American Ship
Archer ZI
ATUS
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WEW
York
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Imavny
Vanguard
Vest
American Cancer Society
A.C.S
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Star Building Systems
Star Builders. Inc
Tom Ford
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CAP Council
Business News
Robert Penick
Owens-Corning Fiberglass Corp
Granville
Mary Tobin
Tootsie Roll Industries
Richard Scheller
Caltech University
Pasadena
Calif
Scheller
Ellen Jordan
Boston
New Hampshire
Magnavox
White Et Keer
Odel
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Ater
Vous
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Stewart
Ogee
Baldwin-Wallace College
Baldwin-Wallace
Lorain County Community College
MBA
Baldwin Wallace College
Racakis
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