| Microsoft and Countrywide outlooks lift market
Countrywide, the largest U.S. mortgage lender, said the housing slump led to a $1.2 billion third-quarter loss, but it forecast a profit in the fourth quarter as it slashes jobs. "Microsoft is a big factor, but you are also getting less negative news on the financial side, especially with Countrywide," said Sam Rahman, portfolio manager at Baring Asset Management Inc. "Those two things are providing a lot of support today." The Dow Jones industrial average was up 69.01 points, or 0.50 percent, at 13,740.93. The Standard & Poor's 500 Index was up 12.41 points, or 0.82 percent, at 1,526.81. The Nasdaq Composite Index was up 39.16 points, or 1.42 percent, at 2,790.02. Crude was up 71 cents at $91.17 a barrel on the New York Mercantile Exchange. Earlier, in electronic trading, oil reached a record high of $92.22, bumping up energy stocks.
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REMEMBERING YESTERYEAR: 209 Niagara St. was built in 1920s for lumber ...
The magnificent mansion at 209 Niagara St. was built in the 1920s for Ray H. Bennett, owner of Ray H. Bennett Lumber Co. and Bennett Redi-Bilt Homes, and his wife, Ethel Stanley. Bennett began his lumber business at Main and Island streets as Hoadley & Bennett in 1902, eventually spreading to 190 Oliver St., the former W. G. Palmer Lumber Co. facilities. The Ray H. Bennett Lumber Co. also sold mail-order or kit homes, Bennett Redi-Bilt Homes. Bennett homes built in the first half of the 1900s are all over North Tonawanda and Western New York, as well as other parts of the country. Many more were built with lumber from this company. The business operated through 1975. The Bennett kit homes were representative of vernacular architecture indicates a traditional type of housing utilized by ordinary wage earners.
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