OTHER NEWS - May 18, 1992

Commodity Exchange to Cut Staff: The Comex, responding to the sluggish markets for gold and silver, will cut its staff by about 8% through a combination of layoffs, attrition and leaving vacant positions open. The reductions will occur across the board and will result in the layoffs of five people on Comex’s 206-person staff. The remaining 12 reductions will occur through attrition and not filling vacancies, said David Halperin, Comex president. The move to cut staff comes as Comex has been struggling with declining volume.