Continental's Mea Culpa

One of the hardest-hit stocks on Wall Street recently has been that of Continental Illinois Corp., the parent of Continental Illinois National Bank and Trust Co., the nation's seventh largest commercial bank (1981 assets: $45 billion). In the wake of huge reported loan losses following the collapse of Penn Square Bank of Oklahoma City in June, Continental's stock has plunged to a mere 15%. Earlier this year the stock had traded at 36. Last week, in a public relations blitz designed to get the bad news behind him, Continental Chairman Roger Anderson took...

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