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TREASURY AUCTION: Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $15-billion in three-month bills at a discount rate of 3.550 percent, down from 3.560 percent last week. An additional $13-billion was sold in six-month bills at a rate of 3.490 percent, down from 3.500 percent. The new discount rates understate the actual return to investors: 3.630 percent for three-month bills and 3.601 percent for a six-month bill. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills fell to 3.62 percent last week from 3.70 percent the previous week.

Earnings Continental Airlines Inc.

Second-quarter income tumbled as the Houston airline sold fewer high-fare tickets to corporate fliers amid a slowing U.S. economy. Still, results exceeded analysts' estimates of 58 cents a share.

2ndQtrYear Ago


Net Income$42-mil$149-mil

Per Share74 cents$2.39

Florida Banks Inc.

The Jacksonville bank holding company reported net interest income increased 31 percent in the three months ended June 30, while non-interest income doubled to $403,000.

2ndQtrYear Ago

Net Income$62,979-$244,738

Per Share1 cent-4 cents