Newspaper article THE JOURNAL RECORD

Mutual Fund Assets Fall

Newspaper article THE JOURNAL RECORD

Mutual Fund Assets Fall

Article excerpt

NEW YORK _ Assets of the nation's 552 money market mutual funds fell $2.05 billion in the latest week, the Investment Company Institute said Wednesday. The decline, to $452.25 billion in the seven-day period ended Wednesday, followed a $6.2 billion drop in the funds' assets the previous week, according to the Washington-based mutual fund trade group.

Fund assets hit an all time high of $475.53 billion in the week ended April 10. The Investment Company Institute said that in the latest week, assets of 260 general purpose funds fell $969.7 million to $177.46 billion, assets of 92 broker-dealer funds dropped $1.34 billion to $147.76 billion, and assets of 200 institutional funds rose $258.3 million to $127.02 billion.

AT&T, NCR to Amend Merger DAYTON, Ohio _ American Telephone & Telegraph Co.

and NCR Corp. announced Wednesday that they plan to amend their merger agreement so they can use an accounting method that would make the transaction tax-free to NCR shareholders. NCR last May agreed to be acquired by AT&T for $7.4 billion after a five-month takeover battle. Under the amended plan, the two companies would increase the $110-per-share transaction price by 74 cents and NCR would stop paying dividends until the merger is completed sometime this fall. Both moves are subject to approval by the companies' boards.

NCR spokesman Bob Farkas said he believes the actions announced Wednesday will lead to favorable consideration of the companies' bid to account for the merger as a pooling of interests.

America West Reconsiders Aircraft Orders SEATTLE _ America West Airlines, which sought protection from creditors in bankruptcy court last week, said it is reconsidering about $1.5 billion in aircraft orders with the Boeing Co.

America West, based in Phoenix, has ordered four Boeing 747-400 jumbo jets, 15 737 jetliners and 10 757 jets. …

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