The Salina Journal from Salina, Kansas • Page 18

journal MONEY Thursday, September 23,1993 19 Flood aid standard altered States to receive more assistance By The Associated Press WASHINGTON President Clinton set a new standard for disaster relief Wednesday to ensure that all nine Midwestern slates damaged by summer flood- qualify for additional federal aid. Under the new standard, the federal Emergency Management Agency will reimburse the states for 90 percent of eligible disaster costs rather than 75 percent. "The scope of this disaster is so great that it has the potential to have a dampening effect on our entire national economy, and we must respond accordingly," Clinton said in a statement. "Therefore, today I have established a second standard that will be used to address those disasters with wider economic impact." Clinton earlier had announced that FEMA would pay 90 percent of disaster costs in states where flood damage totalled at least $64 a person But as of last week, none of the nine Midwestern states had met that standard and most did not expect to attain it. On Wednesday, Clinton announced that FEMA would allow 90 percent reimbursement when overall damage from a disaster amounts to 0.1 percent of the nation's gross domestic product.

In this case, flood damage was calculated at $7.6 billion, or 0.12 percent of gross domestic product. "That means I have approved the reimbursement of eligible public assistance disaster costs for the nine Midwest states affected by this summer's catastrophic flooding, at a 90 percent federal-10 percent non-federal cost-share basis," Clinton said. The new, more generous standard applies to FEMA disaster aid for public and non-profit properties. The nine affected states are Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wisconsin. Officials of many of the flood states had complained that the original requirement to qualify for a 90 percent reimbursement rate was too strict and that it was unfair.

Clinton's announcement was warmly received. Michael Lawrence, a spokesman for Illinois Gov. Jim Edgar, said the new formula "will mean millions of dollars in additional assistance to flood-stricken communities." Sen. Tom Harkin, D-Iowa, said the decision means Clinton is keeping his word about treating flood victims just as hurricane victims were assisted last year. Kansas' economy slowing down By Harris News Service LAWRENCE The run during which the Kansas economy outperformed the national economy appears to be over, said a forecast by the University of Kansas.

Researchers at KU's Institute for Public Policy and Business Research, an economic think-tank and research group, say the Kansas economy will be sluggish for the rest of 1993 and 1994. The biggest decline will be in employment, said Norman Clifford, the institute's forecasting director. Although the number of jobs will increase, particularly in the construction industry, the labor force is increasing at a greater rate. Kansas unemployment is expected to increase from 4.2 percent in 1992 to 5.1 percent in 1993 and 5.4 percent in 1994. Nationally, unemployment is expected to be 7.2 percent by the end of 1994 about the current rate.

One of the biggest declines in employment is in transportation equipment, where employment has dropped significantly because of layoffs at Boeing Co. Personal income growth, adjusted for inflation, also will be sluggish over the next two years, Clifford said, growing even more slowly than in the United States as a whole. Personal income growth for the state over the next two years is expected to be only 1.1 percent a year, compared with 2.1 percent nationally. "Although nominal personal income growth will only be in the 5 percent range, and tax increases will cause disposable personal income growth to be even more modest, consumers are expected to increase real spending at 2 percent a year in the 1993-1994 period," Clifford said. Thieves steal phone number from the air By The Associated Press NEW YORK Stolen cellular phone numbers that often are plucked from thin air have led to millions of dollars in illegal calls, and phone companies don't know how to prevent the thefts.

One of the latest cases was cracked in New York this week when six men were charged with scanning the airwaves for numbers and programming them into unauthorized phones. Cellular telephone calls, which are carried on radio frequencies, contain two electronic codes: a subscriber ID NEW YORK STOCK EXCHANGE Nome Dlv. PE Vol. Lull Cha. -A-A.

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3164 10 1.3 16 3871 50 II 2677 94 15 1669 37', 3175 23 1746 14 1871 Other indexes Standard Poor's 500 Index 456.20 Standard Poor's Industrials 513.43 New York Stock Exchange 253.27 1.68 I Over-the-counter Composite Index 745.54 3,547.02 High: 3,577.20 Low: 3,516.56 Change: American Stock Exchange Index Volume NYSE 4 p.m. revised volume 450.29 286,758,582 NYSE after-hours volume 2,201,418 NYSE consolidated volume 346,654,600 Stock data by The Associated Press Total consolidated issues traded 2,628 Flnanclals Dial 825-6000 category 7500 Touch-tone phones Issues higher in price 1,337 Issues lower in price 665 Issues unchanged 626 10 most active stocks NEW YORK STOCK EXCHANGE AMERICAN STOCK EXCHANGE OVER-THE-COUNTER Name ParamtCom WalMort TelMex ADS Merck Baxter WestghEl Citicorp Glaxo ADR FleetFncI Disney Volume 6,146,100 4,014,400 3,829,900 3,378,500 3,213,400 2,941,200 2,764,100 2,552,900 2,427,000 2,400,900 Last 77 23V, 31Vi 20V, 13 34 38V. Chg. Name EchoBay ALCCom RoyalOak PegasusGId EngySvc Olsten ViacomB Amdahl FrultLoom CheyenSfl Volume 2,531,500 2,291,900 1,858,500 1,095,300 855,000 2 627,700 516,000 439,200 419,800 403,600 Last Chg. 19V.

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40 14 59'. 23V, IV. v. -I-'. The Mill; The lists include local- interest stocks, which are bold- laced, and the day's most actively traded stocks.

Footnotes: a also extra or extras, fa annual rate plus slock dividend, liquidating dividend, declared or paid in the past 12 declared or paid after a slock dividend or split. paid this year, dividend omilled, deferred or no aclion taken at lasl dividend meeting, declared or paid this year, an accumulative issue with dividends in arrears, issued within Ihe past 12 months, declared or paid in the past 12 months plus stock dividend, split or stock dividend of 25 percent or more wilhin Ihe past 25 weeks, -paid in slock in pasl 12 months plus slock dividend, vl company in bankruptcy or receivership or being reorganized under the bankruptcy act. or securities assumed by such companies, wd when distributed, wi when issued, ww with warrants, xw without warrants, indicates single share totals rather than hundreds, means that anyone buying this "ex-dividend" stock on the day in question will no) receive the most recent dividend, indicates single share totals lor ex-dividend slock. OVER-THE-COUNTER EXCHANGE AMEX Name AST Aclaim Adaptec AdooeS AlphoBta APwrCv Amgen Anlec AppleC ApldMal AsyslTch AllSeAr BMC SI I BkWorc BoyBks BedBlh Biomel Borlnd BullrMI Cenlocor ChrmSh Checkrs 5 Chiron Cirrus Cisco Cobro CodaEn v. PE Vol.

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1978 1264 1102 2', 11917 2112 r-. 12193 3 16 1158 2166 36' 3870 31 11 9 5286 15' 5101 16 Haibro Helionel Hemlo Hilhov Inlelcm InterDig IntColn IvaxCp Medial Nabors NewLine NY Tim OBrien Olsten PegGId Polyph RoyalOg SPDRn lelDIo TopSrce TurnBB USBiosa Viacom ViacB Wlhlrd and the telephone serial number. Thieves can get the codes by copying them off equipment or using scanners to read the numbers as they are transmitted through the air. The stolen numbers are programmed into other phones, which are used to run up huge bills. COMMODITIES LOCAL GRAINS Wednesday, Sept.

22 Secular Grain, Sallna Wheat Corn Mllo Beam Terminal $3.07 $3.86 $5.98 Farmway, Belolt $2.81 $3.47 $5.93 DeBruce.CloyCn. $2.97 $2.26 $3.68 $6.22 Cooper, Colby $2.83 $2.20 $3.09 $5.63 Decotur, Oberlln $2.76 $2.25 $3.19 $5.52 Agco.Rimell $2.84 $3.43 $5.84 Farmeri, Stockton $2.78 $3.40 CHICAGO GRAINS Futures trading Wednesday on the Chicago Board of Trade: Open High Low Settle Chg. 5,000 bu minimum; dollars per bushel WHEAT 3.11 3.12'A 3.09'/i 3.10'/4 3.16% 3.17 3.13'/. 3.14 3.06% 3.06V, Feb Apr Jun Aug Oct Sep Oct Nov Jan Mar Aug Apr May Oct Dec Feb Apr Jun Jul Aug Oct 75.30 76.30 72.70 71.55 72.25 75.30 76.30 72.70 71.55 72.25 75.00 76.05 72.45 71.25 72.15 75.17 76.15 72.57 71.30 72.15 FEEDER CATTLE 50,000 cents per Ib. 86.70 86.72 86.42 86.55 86.15 86.15 85.45 85.55 86.30 86.30 85.67 85.67 85.35 85.35 84.85 84.92 83.40 83.40 83.00 83.05 81.50 81.50 81.40 81.40 82.45 82.45 82.20 82.20 81.75 81.75 81.45 81.50 HOGS 40,000 cents per Ib.

48.15 48.85 48.10 48.37 48.05 48.45 47.80 47.97 47.00 47.22 46.77 46.92 45.25 45.45 45.05 45.25 50.10 50.30 49.95 50.00 49.05 47.70 44.10 .10 Dec Mar May Jul Dec 3.14% 3.12V. 3.04'/. Dec Mar May Jul Sep Dec Dec Mar May Jul Nov Jan Mar May Jul Aug Sep Nov 2.43 2.50V, 2.56V. 2.59 2.54 2.48V. 1.45 1.49V, 1.51 3.15% 3.12V, 3.06'A 3.18V.

CORN 2.46V. 2.43 2.46 2.54V. 2.50 2.54 2.58V. 2.55% 2.58V. 2.61V.

2.59 2.60% 2.55V, 2.53 1 2.55V. 2.50 2.48V. 2.49V. OATS 1.46 1.44 1.50V. 1.48V, 1.52V, 1.50% 1.44% 1.49V, 1.51 1.53V, .01 .02 .01 OMAHA LIVESTOCK 6.38 SOYBEANS 6.39V, 6.33 6.43V, 6.46 6.39% 6.49 6.5I'/, 6.45V.

6.50V, 6.54 6.49 6.55 6.58 6.53 6.53V, 6.56 6.52 6.36V, 6.38 6.36 6.23V, 6.26 6.23 6.38% 6.44% 6.51 6.54% 6.57V, 6.56 6.36% 6.24% .06 .08 KANSAS CITY GRAINS HVheat futures Wednesday on the Kansas City Board of Trade: Open High Low Settle Chg. WHEAT 5,000 bu minimum; dollari per bushel Dec Mar May Jul Sep Dec 3.16% 3.18V, 3.16% 3.16% 3.17 3.19 3.17 3.17% 3.11 3.11V, 3.10 3.04'/, 3.05 3.04 3.11% 3.04V, 3.08 3.15 3.15 3.15 3.15 Wheat 132 cars: 1 cent lower to cents higher; No. 2 hard 3.24%-4.61n; No. 3 3.13%- 4.60n; No. 2 red wheat 3.00V.-3.43n; No.

3 2.89V.-3.42n. Corn 3 cars: unch to cent lower; No. 2 white 2.40-2.50n; No. 2 yellow 2.39-2.47n; No. 32.19-2.46n.

No. 2mllo3.87-4.02n. No. 1 soybeans6.33-6.44'/,n. Hoppers 79.00-81.00.

DODGE CITY LIVESTOCK Trade very slow. Not enough slaughter steer or heifer sales confirmed for a market test. Inquiry moderate, demand light. Sales confirmed on 200 slaughter steers and 200 slaughter heifers. For the the week to date 47,500 head confirmed.

Sales FPB feedlot net weights after 4 percent shrink. CHICAGO LIVESTOCK Futures trading Wednesday on the Chicago Mercantile Exchange: Open High Low Settle Chg. CATTLE 40,000 cents per Ib. Oct 73.60 73.75 73.25 73.32 Dec 74.05 74.25 73.82 73.85 .37 Omaha Livestock Market quotations Wednesday: Hogs: 1200; barrows and gilts 50-75 lower; U.S. l-3s 230-260 Ibs 47.50-47.75, approximately 150 head 48.00; sows lower; 350-650 Ibs 35.00-38.00.

Cattle and Calves: 100; no test steer and heifer prices. Sheep: 100; lambs narrowly tested, steady; spring lambs choice and prime 110-130 Ibs shorn, No. 1 -2 pelts 65.50-67.00. ST. JOSEPH LIVESTOCK Quotations for Wednesday: Cattle: feeders 1,500.

Auction started late this morning due to heavy thunderstorms rumbling across the area last night and this morning dumping amounts up to eight inches 50 miles north. Early sales feeder steers and heifers near steady but not all weights fully tested demand good even though fed cattle prices have suffered sharp price decline the past couple of weeks. Feeder steers: medium and large frame 1, few 407-445 Ib 104.00-109.00; 552-588 Ib 92.00-103.00: 635 Ib 93.25; 650-654 Ib 90.00-91.00; 732-735 Ib 88.6093.35; 851-882 Ib 83.50-86.00. Feeder heifers: medium and large frame 1, part load 653 Ib 86.10:714-741 Ib 83.00-84.85; 751 Ib82.00. Hogs 1,000.

Compared to Tuesday, barrows and gills 25 higher; 1-3 230-270 Ib 46.75-47.25, mostly 47.25; 2-3 270-290 Ib 45.25-26.25; 2-4 290-310 Ib 43.25-44.25; 1-2 220-230 Ib 46.25. Sows under 450 Ib steady to 25 lower, over 450 Ib 1.00-2.00 lower; 1 -2 300-500 Ib 35.50-35.75; 1 3 500-550 Ib 37.00; 550-700 Ib 39.00-40.00. COLD Foreign Hong Kong late: $357.75, up London morning fixing: $355.00, up London afternoon fixing: $354.40, off $0.35: London late: $353.90, off Paris afternoon fixing: $356.95, up Frankfurt fixing: $355.59, up Zurich late afternoon: $353.50, off $0.20, Domestic Handy Harmon: $354.40, off $0.35: Engelhard: $355.65, off Engelhard fabricated: $373.43, off $0.37: Comex gold spot month close Wed. $353.90, off Republic National Bank 4 p.m. Wed.

$354.00, off $8.75. SILVER Handy Harmon silver Wednesday $4.065, off the bullion price for silver earlier in London 4.0735, off Engelhard silver $4.065, off 0.065; Fabricated $4.390, off NY Comex silver spot month Wednesday $4.040, off $0.146. From Staff and Wire Reports .24 If 2693 38V. 1701 3 1843 8'-, 10 7028 2866 2492 6'. 1-'.

14', 24 1646 24'. 4 967 'i 16 2562 8'. 40 1736 22 56606 2071 24'. 8 1355 2'. 24 31 4415 27'; I0e 4095 19'.

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