LITTLE ROCK, Ark. (Arkansas Business) -- Wall Street's mood to sell brings the market down.

The market fell yesterday after cresting to big highs as some investors decided the moment was right to cash out.

The exchange was also affected by low numbers from the European and Asian markets. Still, the Dow is up 6 percent already in only 23 days of trading this year.

Here in Arkansas, tax revenues for the state in January beat the 2012 numbers and exceeded expectations. But officials at the Department of Finance caution that the upswings are artificial.
The numbers showed revenue totaling $516 million last month,12 percent higher than last year and 13.5 percent more than what had been forecasted.

The bulk of the increase though came from a 10 percent jump in individual income taxes. This, as some taxpayers hoped to miss rate increases this year by shifting their income into last year.

Also, there were more delayed filings, meaning fewer refund claims. Gov. Mike Beebe stressed that those refunds are bound to pick back up soon.

If you've noticed that the price of gas creeping back up again, it's definitely not your imagination.

The American Automobile Association says the average price per gallon of regular unleaded gasoline in Arkansas has gone up 17 cents in the past week alone.

On Monday, it stood at $3.34.

The highest average price at the pump occurring in the Northwest Arkansas corridor between Fayetteville and Rogers where it's $3.37 a gallon.

Arkansas still well behind the national average, currently sitting at $3.52.

And bank owner and visionary real estate developer Doyle W. Rogers Sr. died early yesterday morning in his sleep at his home in Batesville. He was 94.

Susie Smith, senior executive vice president of Rogers' Metropolitan National Bank of Little Rock, said there was no specific cause of death other than his advanced age.

Rogers headed up at one time Metropolitan National Bank, the namesake of Arkansas' tallest building. He was also instrumental in developing the project that would become the Excelsior Hotel, now the Peabody and the Statehouse Convention Center in downtown Little Rock.

He was also behind the building of what is now the Stephens Building.

The University of Arkansas Business Hall of Fame inductee is survived by his wife, Josephine Raye Jackson Rogers; two children, six grandchildren and six great-grandchildren.

(Source: Arkansas Business)

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