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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Sep 10, 1985
Page
4
Opening NYSE session shows stocks slightly lower with mixed early gains in airlines and energy services. Dow Jones up 0.22 to 1339.49 in first half hour while overall advances slim, traders cite cautious stance awaiting signs of growth and potential rate hikes. Creston livestock auction reports 277 consignors selling 750 head plus various cattle categories.
The Treasury auctioned 7.2 billion dollars of three month bills at 7.22 percent and 7.2 billion of six month bills at 7.39 percent. Rates rose from the prior week and were the highest since August. The discount rates imply effective yields of 7.46 percent for three months and 7.78 percent for six months.
Public Voice for Food and Health Policy released figures showing subsidies raise Americans’ grocery bills by about seven billion dollars annually. Dairy, sugar, and peanut programs add hundreds of millions to prices, while lawmakers debate farm bill changes. Ellen Haas calls for pro-consumer reforms as committees shape new legislation.
Coca Cola Co refuses to turn over its cola formulas despite a federal judge order in a suit by 40 bottling companies over syrup pricing. Attorneys say disclosure could lead to public release of the secret ingredients and grave, irreparable harm to the company and bottling system.
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