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U.S. Bank leads
in real estate loans
U.S. Bank of Nevada made more real estate and development loans in 1996 than any other lender, according to records compiled by DataQuick Information Systems of San Diego.
The report showed U.S. Bank made 165 new loans last year for $335.7 million. This represents 8 percent of the commercial real estate development loan market in Clark County.
Phone company
tops 2,000 customers
NevTEL, a local telephone exchange carrier which began servicing Las Vegas Valley in November, recently reached 2,000 customers and 3,000 lines, the company said.
MGC Communications, the parent company of NevTEL, plans to expand operations to Atlanta, Boston, Chicago and Southern California this year.
Gasoline pump prices
decline slightly
LOS ANGELES -- Gasoline pump prices dipped fractionally over the past two weeks on the strength of slight crude oil price declines, an industry analyst said Sunday.
The average price for all grades, including taxes, was about $1.28 per gallon on Friday, down just 0.27 cents from March 7, according to the Lundberg Survey of 10,000 gasoline stations around the country.
At self-serve stations, the average prices were 122.89 cents for regular unleaded, 132.71 for mid-grade and 140.89 for premium.
Prices at full-serve stations were 158.08 cents per gallon for regular unleaded, 166.48 for mid-grade and 173.38 for premium.
Casino's chances
getting worse
LAFAYETTE, La. -- Chances for a land-based casino for New Orleans continue to diminish, Gov. Mike Foster said in a speech to the Louisiana Association of Broadcasters.
"I had been thinking the chances were 50-50 there would be a casino. Now, I think the chances are 70-30 that we won't. They just don't seem to want to do what we need to do."
Foster said he's still not certain that the state has sufficient financial guarantees in a bankruptcy plan filed by the partners that own the casino project. The lead partner in the Harrah's Jazz partnership group is Harrah's Entertainment Inc.
Harrah's has agreed to pay the state a minimum $100 million a year tax, which Foster insisted on.
Casmyn appoints
general manager
Reno-based Casmyn Corp. announced the appointment of Francisco Salvatierra to the position of general manager of the Turk Mine operations in Central Zimbabwe.
Turk Mine, located in the Bubi Greenstone Belt, is the largest gold producing mine owned by the company.
Salvatierra brings extensive mine management and mineral processing experience to Casmyn through his 18-year career with Anglo American Mining Corp. in Zimbabwe. He managed Anglo American's Isabella Mine, which is near Turk Mine.
Rates rise
on Treasury bills
WASHINGTON -- Interest rates on short-term Treasury securities rose in Monday's auction.
The Treasury Department sold $11.6 billion in three-month bills at an average discount rate of 5.26 percent, up from 5.13 percent last week. An additional $11.5 billion was sold in six-month bills at an average rate of 5.33 percent, up from 5.26 percent.
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 5.81 percent last week from 5.72 percent the previous week.
Women's business
president to speak
The president of the National Association of Women Business Owners is set to speak tonight in Las Vegas.
Women business owners, whether they are members of NAWBO or not, are invited to hear from Suzanne Taylor at the Stratosphere Tower. The event begins at 5:30 p.m.
Tickets are $35 and should be available at the door, said Southern Nevada chapter President Paula Brown.
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