SEC files suit against Drexel and Boesky tied to insider trades
The SEC accuses Drexel Burnham Lambert Inc and Michael Milken of arranging with Ivan Boesky to violate securities laws through insider trading stock manipulation and fraud. The civil suit seeks about 100 million dollars in penalties and profits. Also noted is a guilty plea by Morgan Stanley junior analyst Wang Jr in the related insider trading case.
MENTIONED IN THIS ARTICLE
NEW York
Drexel Burnham Lambert Inc
Ivan Boesky
Securities and Exchange Commission
William Proxmire
D-Wis
SEC
Drexel
Michael Milken
Boesky
Boesky and
Miami
Victor Posner
Milken
Cary J. Maultasch
Proxmire
Senate Banking Committee
Wall Street
Morgan Stanley & Co
U.S
Wang
Morgan Stanley
Metal prices New York closing figures for commodities
New York yesterday saw COMEX prices across metals with Gold at 42816 per troy ounce, Silver 6548, Platinum 52790, Aluminum 1195 per pound, Copper 1026 cents per pound, Lead 38 cents per pound, Zinc 69 to 70 cents per pound, Tin 46823 per set, and Mercury 6355 365 per 76 lb flask, reflecting Markets and Week composite data.
MENTIONED IN THIS ARTICLE
New York
Egg prices in Columbus Ohio report shortages
Eggs sales to retailers in major Ohio cities show cartons delivered, but figures are too few to report. AP notes limited data from Columbus and surrounding markets, with no clear price movements available at this time.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Bank profits head for record high in 1989 forecast
Banks' six month earnings reached 10.5 billion dollars, the strongest since 1934, with FDIC saying profits may hit a yearly record if the economy stays on current trends. Despite rising profits, bank failures persist, led by Texas lenders tied to oil slump and a major rescue of First Republic Bank Corp.
MENTIONED IN THIS ARTICLE
Federal Deposit Insurance Corp
Texas
First Republic Bank Corp
Dallas
Southwest
Seidman
Midwest
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Accounting shift trims monthly U S trade deficit by 1.5 billion
Washington reports a Reagan administration accounting change will lower the official U S monthly trade deficit by 1.5 billion without altering actual import levels. Commerce Undersecretary Ortner defended the move amid election year criticism from Dukakis. The change shifts shipping and insurance costs into the services category and will debut next week with July data.
MENTIONED IN THIS ARTICLE
Washington
U.S
Michael Dukakis
U S
Russell Long
Dla
Ortner
U.S Trade
Malrite Group Posts Second Quarter Losses Narrowing
Malrite Communications Group Inc. reported a second quarter loss of 365000 dollars, 3 cents per share, against 410000 dollars, 3 cents, a year earlier as revenues rose to 35.9 million dollars from 31.6 million. The firm operates 11 radio and six TV stations across major markets and Puerto Rico, with Milton Maltz seeking to acquire all outstanding stock. It also said it agreed to sell its Houston radio station.
MENTIONED IN THIS ARTICLE
Cleveland
Malrite Communications Group Inc
Malrite
Milton Maltz
Houston
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Frederick H. Joseph
Company
Stephen Sui-Kuan Wang Jr
Frankfurt, West Germany
Tokyo
Hong Kong
Seoul
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Chicago
Chicago Tribune
Rick Tuma
Runzheimar
Weds
NYSE
Sa37 Ag
ArmExp
Gmm
Anheus
Archon
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Bnka
Ot Baxter
Bevrly
Ati
Qisnet
Dreyfus
Aye
duPont
Exxon
Gould
Halbin
Hanson Sze
A Honwell
Houlnd
Marion
Jasco
Mattel
Ty Mead
ATV Ae
Piabry
Sears
SouthCo
Tenmco
Texaco
Pierre R Smith
Aeme Cleve
Alltel Allied Corporation
AmerShip Building Center
CPC Inter Inc
Emerson
First Bancorp
Goodrich
Hills Dept
C Industries
Invacare Ba
LCB Bancorp
Lesco Inc
LNB Bancorp
Nordson
Northern Savings Ohio Edison
PNC Corp
Ad Parker Hannifin
Smucker Ye Sunrise Medical
Unites
Alt Wentworth
York International
Au Bt Ut al
Bae Wickes Wendys
Bae
FDIC
L. William Seidman
Commerce
Robert Ortner
United States
Commerce Department
Congress
Michael Evans
Los Angeles
Philadelphia
San Francisco- Oakland
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Rochester
The
Elyria Telephone Company
Quickchange
IBM
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ROYAL
IBM Business Equipment
Cleveland Street
Elyria
Lorcin
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