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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 26, 1984
Page
9
New York stocks opened lower continuing yesterday's decline despite a major bank announcing plans to reduce its prime lending rate. The Dow Jones average looked weak as traders weighed the news and broader market sentiment.
In Columbus, eggs sold to retailers in major Ohio cities with cartons delivered. Extra large 57-60 cents, large 56-59, medium 50-53, small 36-40. Producer loading eight type hens at 5 cents. In Chicago, Midwest prices rose with Class 1 large 45, Class 2 large 43, mediums 38, smalls 36, nest run breaking stock 44, checks 39.
AP report lists yesterday spot prices in New York for copper at 63 percent 15 cents a pound, lead 22 to 26 cents, zinc 45 cents, tin 60587, aluminum 46 80 cents, gold 338 50 per troy ounce, silver 7 38, mercury 327 to 235 per 76th flask, platinum 324 to 328 per troy ounce, with Metals Week 1h composite reference.
Canada becomes the fourth nation in 10 days to trim light crude prices with a $1.33 per barrel cut approved by the National Energy Board taking effect next Thursday. The move lowers Canadian crude to Chicago to 27.47 US dollars while Mexico suspends natural gas exports amid sagging demand, as OPEC ministers plan an emergency summit to discuss prices and production.
Akron based Goodyear Tire and Rubber Co posts third quarter earnings of 853 million or 80 cents a share while nine month earnings reach 305.7 million beating 1981's prior nine month record. Procter & Gamble reports first quarter profits down 18 percent from year earlier as sales rise to 2.458 billion. Gibson Greetings shows record third quarter and nine month revenues with higher profits. Sohio faces lower earnings in Q3 due to weaker product performance higher exploration costs and currency and interest pressures.
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