Reported by Star-Bulletin staff & wire
Thursday, November 14, 1996
Reported by Star-Bulletin staff & wire
Thursday, November 14, 1996
Shares in Aquasearch Inc. got a big boost today from news that C. Brewer and Co. will acquire a 6 percent stake in the Big Island marine bioscience company. Big Isle firm’s stock soars
Aquasearch shares, traded on the Nasdaq market, climbed 39 percent to close at 50 cents, up 14 cents from yesterday. Trading volume was extremely heavy with more than a million shares changing hands today, according to Bloomberg Business News.
After the stock market closed yesterday, C. Brewer said it signed a letter of intent to acquire about 2.05 million shares in Kona-based Aquasearch.
In exchange, Aquasearch will get 80 to 90 acres of C. Brewer property in the Kau district of the Big Island. The land, valued at $900,000 to $1 million, will be used to expand Aquasearch's commercial production of microalgae.
The 20th annual First Hawaiian Bank Auto Show will be held Jan. 24-26 at the Neal Blaisdell Center. The bank said more than 300 new cars, trucks and recreational vehicles will be on display in the arena and exhibition hall. Annual Auto Show set
for Jan. 24-26Admission will be free and there will be entertainment, prizes and a chance to win a new car. The show is sponsored by the bank and cosponsored by KSSK Radio and the Hawaii Newspaper Agency, which is responsible for the production, circulation and advertising of the editorially independent Star-Bulletin and Honolulu Advertiser.
WASHINGTON - Thirty-year, fixed rate mortgages averaged 7.59 percent this week, down from 7.67 percent last week, according to a national survey released today by the Federal Home Loan Mortgage Corp. 30-year mortgages drop
to 7.59 percentIt was the lowest since March 7, when rates averaged 7.38 percent. Rates had averaged 8.34 percent as recently as Sept. 5.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.52 percent, down from 5.56 percent last week. Fifteen-year mortgages averaged 7.11 percent this week, down from 7.20 percent a week earlier.
The rates do not include add-on fees known as points.