First Interstate Bancorp, Los Angeles, increased its...

First Interstate Bancorp, Los Angeles, increased its quarterly cash common stock dividend to 73 cents a share from 70 cents, payable June 30 to shareholders of record June 22 . . . The Federal Reserve said the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate mortgages, dropped to 7.46% last week from 7.59% the week before . . . Baker Hughes Inc. of Houston reported that the number of working oil and gas rigs in the United States fell for the second straight week to 889, down nine rigs from the previous week. The count totaled 814 a year ago.