Bankers Trust cuts prime to 13 percent amid mixed forecasts
Bankers Trust Co cut its prime rate to 13 percent, the lowest in two years, but analysts say consumer rates may not fall soon as banks hesitate amid loan defaults fears. Reagan touted optimism while others remained skeptical about a near recovery. Savings and loan withdrawals hit new highs as regulators approve Citi Fidelity merger to stabilize the thrift sector.
MENTIONED IN THIS ARTICLE
New York
Reagan
Bankers Trust Co
Bankers Trust
Rhodes plays down Harvester risks to Springfield plant
Governor James A Rhodes says a 27.6 million loan and loan guarantee package keeps International Harvester Co's Springfield plant open, with 90 percent of the liability borne by the state. The Springfield Community Improvement Corp will own and lease the plant, which could still operate if IH fails, potentially attracting other manufacturers. Rhodes spoke at the signing ceremony for the first of 63 documents to finalize the deal.
MENTIONED IN THIS ARTICLE
Columbus
James A Rhodes
International Harvester Co
Springfield
International Tarvester
Indiana
Fort Wayne
Ind
Ohio
Springfield Community Improvement Corp
Rhodes
Harvester
Westgate Fairview Park marks 28th anniversary festivities
Westgate Mall celebrates 28th anniversary with a rosy theme. Roses for first 500 shoppers at 10 a.m. Thursday and a five concert series by the Cleveland West Symphony Orchestra begin that evening. Ted Lux hosts Sunday cake cutting as gratis cake draws attract shoppers. prize drawings include a Chicago weekend trip and multiple daily giveaways. Mall opened in 1954 by Jacobs Viscount Jacobs Co. and now houses 80 stores after a recent expansion. Halle's anchor store closed last week with no announced replacement.
MENTIONED IN THIS ARTICLE
Fairview Park
Westgate Mall
George Cormack
Cleveland West Symphony Orchestra
Ted Lux
Jacobs, Visconsi & Jacobs Co
Stocks Slip as Market Continues Decline in Early Trade
New York stock market moved lower with the Dow Jones industrial average down 2.11 to 917.22 in the first half hour. Losers led gainers 5-4 among NYSE issues as prices fluctuated in a narrow weekly range after their late summer rally. Bankers Trust lowered its prime rate from 13% to 13 percent, offering little positive reaction to declining rates.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
Bankers Trust of
Blue Bell
Sears Roebuck
Bendix to consider plan to keep Cleveland Warner & Swasey plant open
Bendix Corp officials in Cleveland say a restructur ing plan may keep the Warner & Swasey plant running as orders for machine tools decline. Employment at the plant fell to under 500 this year from about 1,170, while Bendix overall downsized from 8,700 to around 4,700.
MENTIONED IN THIS ARTICLE
Cleveland
Warner & Swasey
Bendix Corp
Frederick Searby
Searby
Bendix
Akron
Solon
Lima
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Associated Press
Ben E. Laden
T. Rowe Price Associates Inc
Savings and Loan
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Federal Home Loan Bank Board
Pan
American World Airways
Trans World Airlines
F.W. Dodge
McGraw-Hill Information Systems Co
United States
Dodge
Florida
Louisiana
Federal Reserve Board
Citicorp
Fidelity Federal Savings and Loan of
San Francisco
Fed
Business News
Westgate
Chicago
Hyatt Regency Hotel
Stouffers
Stouffer's
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Ghi
MNO
THE
Elyria Telephone Company
Allome
Urese
AmMat Au duPont
Ablia Ion Bed Armso
Ashton
Alltich
Firesin Lly Aveop
Ute
Hickok
Gadyn Byatt Boeing
Bardes
NYSE
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Hinger
Texaco Praol
Ingertt
IBM
Mart Beant
Pierre R, Smith Co
Kaast
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AmerShip Building
East Ave
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Irywia
Corarn
Cleve
al Savings
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Wlisand & Wife
Coprie
Certticone
Stu Farchile
My Wil Cy & Loan Association of Cleveland
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