T-bill yields were mixed. The Treasury auctioned 13-week bills at an average discount of 7.41 percent, up from 7.39 percent last week, and 26-week bills at an average of 7.34 percent, down from 7.36 percent. The investment rate was 7.66 percent on the 13-week bills and 7.73 percent on the 26-week bills.
The oil rig count -- the number of rigs exploring for oil or natural gas rigs in the United States -- rose by 27 this week to 1,039, the second-highest total this year, said Baker Hughes Inc. The company said it may be a reflection of drilling companies' growing confidence that higher oil prices may not be temporary.
Gasoline inventories are at their lowest level since July 1988 and shortages may appear, Calvin Kent, head of the Energy Information Administration, told Congress. COMPANIES
Danaher Corp. of the District said it has refinanced $300 million of its senior debt through a new credit agreement with Bankers Trust Co. and a syndicate of other lenders, saving the company more than $1 million a year. Proceeds will be used to retire debt assumed as part of the company's acquisition of Easco Hand Tools Inc. and other purposes.
Blackstone Group, an investment banking firm, is negotiating with Greyhound creditors for a possible purchase of the bus company.
United Press International said it is closing its bureaus in New Mexico, Wyoming and Montana, but declined to specify how many layoffs were involved. UPI said it would expand its stringer network in those states.
Reuters's U.S. employees have authorized their union leadership to call a strike against the company, the Newspaper Guild of New York said. Guild members voted by better than a 20-to-1 margin last week for the authorization after contract talks that began nearly a year ago failed to result in an agreement.
Greyhound Dial Corp. purchased the Breck Hair Care Products business from American Cyanamid Co. of Wayne, N.J. Terms were not disclosed. REGULATION
BP America will pay 500 minority job applicants an estimated $445,000 and give 25 minority group members clerical jobs as part of a settlement of racial discrimination allegations made by the Labor Department.
Columbia Savings and Loan of Beverly Hills, Calif., was told that the Office of Thrift Supervision will not approve the sale of the thrift's junk bond portfolio to Gordon America L.P. The agency ordered Columbia to solicit additional bids.
Federal regulators defended their effort to seek sanctions against Neil Bush, saying that although he has resigned from Silverado Savings and Loan, "Bush is perfectly capable of becoming a director at another institution and repeating his misconduct there." PEOPLE
Jon C. Madonna, managing partner of KPMG Peat Marwick's San Francisco business unit, was tapped by the company's board to be chairman.
Paul G. Edwards, a former press secretary of Virginia governor John N. Dalton, resigned as vice president for public affairs at Virginia Power. The company also said it would consolidate the government affairs and public affairs departments into one unit headed by Eva S. Teig, former secretary of health and human resources under Gov. Gerald L. Baliles. ODD LOTS
The Latest News, a daily newspaper produced hourly, will be distributed on afternoon flights of the Trump Shuttle, the paper's backers said. The paper had been carried since April on Pan Am Shuttle flights. The publication is a joint venture of United Press International and States News Service of Washington and Financial World magazine of New York.