ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Tuesday, April 22, 1997 TAG: 9704220083
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
Federal deficit down 13 percent from '96
WASHINGTON - Halfway through fiscal 1997, strong economic growth is helping to keep the federal budget deficit 13percent below last year's in the same period.
March's red ink of $21.3billion brought the deficit from October through March to $111.3 billion, the Treasury Department said Monday. That compares with $127.7 billionin the first half of fiscal 1996.
April, as usual, is expected to bring a big surplus as taxpayers mail checks to the Internal Revenue Service.
For all of 1996, the deficit totaled $107billion, a 17-year low.
-ASSOCIATED PRESS
Chrysler strike envelops 15 plants
DETROIT - The effects of an 11-day strike at a Chrysler Corp. engine plant spread Monday to Indiana and Mexico, while Michigan took another hit. More than 7,800 workers altogether were told to stay home.
The latest layoffs brought the number of Chrysler workers idled to 22,393. Fifteen plants in the United States, Canada and Mexico have been affected.
Talks also continued Monday in a 17-day strike at the General Motors Corp. assembly plant in Oklahoma City.
-ASSOCIATED PRESS
Short-term T-bill rates mixed
The Treasury Department on Monday sold $6.1 billion in three-month bills at an average discount rate of 5.21 percent, up from 5.15 percent last week. An additional $6 billion was sold in six-month bills at an average rate of 5.38 percent, down from 5.42 percent.
The three-month bill rate was the highest since they sold for 5.26 percent March 24. The six-month bill rate was the lowest since 5.3 percent April 7.
The Federal Reserve said the average yield for one-year Treasury bills, the most popular index for adjustable-rate mortgages, fell to 5.98 percent last week from 5.99percent the previous week.
-ASSOCIATED PRESS
Briefly ...
Branch & Associates Inc., Roanoke-based general contractor, has the contract to build a three-story government center for Carroll County at Hillsville. The contract, valued at $10.5million, calls for completion in November 1998.
Vaughan Furniture Co. in Galax has approved a 10-cent per share quarterly dividend, to be paid June1 to shareholders on May15.
Furniture Medic has moved its warehouse from 349 Salem Ave. to 403 Salem Ave. in Roanoke. The 16-employee store owned by Troy Miller Inc. plans to open a display showroom at 601 Campbell Ave. Furniture Medic handles cabinet refacing, countertop replacement, antique restoration, furniture repair and refinishing, upholstering and touch-ups.
Two Roanoke residents, Roland A. Franklin and William E. Moorman, plan to start a tour bus company, F+M Tours, in June at 4230 Moomaw Ave. NW. They will offer two- to four-day vacation trips with transportation, accommodations, meals and entertainment arranged.
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