Assets held by U.S. mutual funds have...

Assets held by U.S. mutual funds have for the first time topped $1 trillion, more than 10 times the amount held in them a decade ago, the Investment Company Institute said. . . . Jim Halsey Co., Nashville, a major booker of country music acts, will merge with the William Morris Agency . . . Southern Pacific Transportation Co. said it will raise railroad rates on its intermodal service by 7% to offset higher costs, particularly a 20% jump in fuel prices . . . General Electric Co. said it plans to close its factory in Somersworth, N.H., idling nearly 1,700 workers for a week Jan. 22-26 because of slowing orders. The factory makes meters that are installed in houses to measure electrical use.