After the Federal Reserve lowered its discount rate yesterday to 4 1/2 percent, the Dow Jones average moved seven points higher, closing at 3,038.46. Yesterday's advance followed four "down" days on Wall Street.
MARYLAND MEMOS: T. Rowe Price's Equity Income Fund is listed under "Selected Issues" in Financial World, Nov. 12. The fund yields 4.5 percent and its stock selections include Entergy, Pennzoil, Provident Life & Accident. . . . U.S. Surgical, widely held here, is recommended by two or more newsletters that outperformed the market over 36 months, says Hulbert Financial Digest. . . . Washington Gas Light appears under "High-Yielding Stocks" in S&P Outlook, Oct. 23. Yielding six percent, the stock has paid continuous dividends since 1852. (No misprint). . . Legg Mason will mail "Company Comments," with pieces on Baltimore Bancorporation, Black & Decker, Bell Atlantic and Loyola Capital.
BALTIMORE BEAT: Myron Oppenheimer, investment chief, Security Trust/Maryland National Bank, will mail his firm's Investment Review, fall issue, if you phone 244-6590. The worthwhile piece covers Treasury yields, Standard & Poor's October under-performance, Equity Scoreboard and "Things to Watch." . . . Thursday, Nov. 14, Sheraton Hotel, noon, Baltimore Security Analysts host MBNA (formerly Maryland National Bank's credit card division), fourth largest credit card issuer in the U.S., stock up a whopping 69 percent since initial public offering earlier this year. . . . My travel agent quipped, "If you look like your passport photo, you're too sick to travel."