Phila. exchange's vote mostly about Frucher

Article Abstract:

Meyer S 'Sandy' Frucher, the chairman and chief executive officer of Philadelphia exchange has put forward a proposal for which the exchange would vote on 25th November, 2003 on the change in ownership structure called demutualization and if the voting is successful, the members would surrender each of exchange's 504 seats for 100 shares of stock. The exchange believes that demutualization is a major step in shaping the future of the nations' oldest stock exchange, which was founded in 1790.

United States, Security brokers and dealers, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Membership, Elections, Securities industry, Philadelphia Stock Exchange Inc.

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Lock-in deals broken as mortgage rates leap

Article Abstract:

Lock-in agreements guaranteeing borrowers a specific interest rate on a mortgage for a specified time period are breaking as lenders cope with number of mortgage applications and the prospects of losses if they do not cover their bets before an increase in rates. The mortgage applications increased in early June 2003 as homeowners rushed to capitalize on 45-year lows in interest rates.

Financial management, Homeowners, Finance, Company financing

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Rising rates call for new directions

Article Abstract:

The Federal Reserve Board reported that the interest rates would increase rather than decrease which shows that the inflation-fighting mode is back. Suggestions are provided in order to face these high rates such as borrowing and savings.

Inflation (Finance), Inflation (Economics), Bond prices

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