Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, November 23, 1993 TAG: 9311230138
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The Treasury Department on Monday sold $13.98 billion in three-month bills at an average discount rate of 3.14 percent, up from 3.11 percent last week. An additional $14.06 billion was sold in six-month bills at an average discount rate of 3.30 percent, up from 3.26 percent last week.
The three-month bill rate was the highest since they sold for 3.15 percent Jan. 4 and equalled the rate of June 7. The six-month bill rate was the highest since they averaged 3.38 percent Dec. 29. It, too, equalled the rate of June 7.
In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable-rate mortgages, rose to 3.58 percent last week, up from 3.55 percent the previous week.
Newspaper begins survey of outlook for 1994
The Roanoke Times & World-News next week will begin its survey of regional companies about this year's business conditions and the companies' outlook for 1994.
The annual survey has been conducted for more than a decade and includes opinions of managers of major companies from all business and industry sectors. Answers are anonymous and will be received and compiled by the Center for Community Research at Roanoke College. Operators of any business interested in participating are asked to call John Levin at 981-3340.\ Briefly
Hershey Foods Corp., the Hershey, Pa., operator of a chocolate plant at Stuarts Draft and a pasta plant at Winchester, has registered with the Securities and Exchange Commission a plan to offer up to $400 million of debt securities. Net proceeds from any offering under the registration will be added to the company's general funds to meet capital expenditure and working capital requirements, to refund outstanding debt, repurchase the corporation's common stock and fund acquisitions.
Sears, Roebuck and Co. announced a voluntary program enabling its shareholders who own fewer than 100 shares to sell their stock or buy more through the mail, rather than through a broker. The new "odd lot" program is responsive to shareholders who have expressed concern about the cost and inconvenience of selling their shares in the open market, the company said. Alice M. Peterson, Sears vice president and treasurer, said about 205,000 Sears shareholders who held fewer than 100 shares on Nov. 10 are eligible to participate in the program and will receive details in the mail. The program expires Dec. 30.
by CNB