The Galveston Daily News from Galveston, Texas • Page 11

GALVESTON COUNTY, TEXAS SATURDAY, MAY 21, 1994 'Jin Market Stock market closes mixed Maifcet in brief May 20, 19'J4 DOW (Industrials) NYSE MidCap AMEX NASDAQ The Associated Press NEW YORK ended Friday's session mixed, with the market depressed most of the day by a drop in bond prices and the dollar. But buy programs lacked in near the close and pushed the Dow Jones industrial average into positive territory. The Dow rose 7.37 to 3,766.35, boosting the week's gains to 106.67. The Dow lost as much as 17 points by mid-afternoon. Then options expirations prompted program traders to move in as buyers near the close, pushing blue chip issues higher.

Declining issues outnumbered advancers by 1,145 to 1,030 on the New York Stock Exchange, where volume Com ltevulum 347,121,350 totaled 293.33 million shares, TOavg cun vol :323 7 4 610 down from 303.63 million on AP Thursday. cS 1 5 composite index fell 0.58 to 251.58, but it was up o.82 for the week The Nasdaq index fell 0.61 to 726.70, but rose 9.43 for the week. At the American Stock Exchange, the market value index rose 1.16 to 438.20, up 5.63 for the week. The com site fell 1.56 to 454.92, but it rose 10.78 tor the week. Stocks were depressed for most of the day by the bond market, which fell on a weaker dollar and higher commodities prices.

NYSEDiarv Advances: 1,027 New highs Declines: 1,146 29 Unchanged: 647 Newlows JTotal issues: 2,820 41 Local stocks (The following quola- lions are supplied through courtesy of Merrill Lynch Pierce Fenner Smith ol Galveston. For information, call 7627616.) AlliedCorp 35V 4 Alum Co Am 7W, AmerAir 55V, Am Cyan 56V, Ameritech 40 1 Amoco 4 Armco Inc 5V, All Rich 102'4 Bell South 6 Boeing co Borden 13 Campbl Cnevron 87V 4 Chrysler Coca Cola Colg Pol 58V, COMPAQ 111V, Cntrldata 4 Delta Air 44V, DowChem 67V, Dillards 31V, OuPont 4 East Kodak 45V, Ene a Ensearch 14V, Entergy 2 Exxon Ford FrptMor 18 Gen Dyn GenElec 48V, Gen Motors GTE 32V, Gillette 67V, Gold 383.70 Goodrich Goodyear 37 Grumman Halliburton 31 Harken En 1V, Hevvl Pckd Honeywell Hou Ind 31V, Hughes lool IBM 61V, Imp Holl 8V, Inco Lid Int Paper 68V a Intl Spec 6V, 85V, Kmart 15.7, Kroger 23V, Litton Ind 30V, Lockheed LTV lyondel! McDon Minn Mnn 51 2 Monsanto 80V, Motorola 47V, Mobil Oil 82V. NatMed Enl 16V, Navistar 19V, Nynex 39V, PacGas El 25 PacTel Panhdl Est 20 Penney 51 2 PZL 48V, Pepsico 36V, Phil Morris Phil Pel 32V, Permn Bas 4V, Polaroid a (The following quotations, supplied by Merrill Lynch Pierce Fenner Smith, are of interest because of the nature of (he organization, holdings or operations in this area.) Am Ind Fnc nv 2 12 2 Am Nil ins Co 47 Anheuser Busch 54 Anico.Growth 4. -55 4 41 Anico Income 21.17 22.46 AnicoTriflex 15.35 1 6 .18 Frost 2 37V, Hornbeck 15 4 15 Ldr 21V, 22 Mitch Energy-A. 20V Stewart Inc Stewart Slev 2 16 19V, Ralston Pur 33V, Raytheon a Rnlds Mil 45V, RoylDPel 111V, Santa Fe Sears 49V, SrvCintl 24V, Shrwn Wlms 30V, Silver 5.61 Sony 57 SoUnGas 18V, Southern Co 18V, SWBell Sterling 7V, Synlex 23V, Sysco 25V 2 Tenneco 48V, TexNMPvvr 2 Texaco 64V, tnslr 78 Textron 54V, TexUtil 32V, Time Warner ToddShpyd 4V, Transco 15V, TRW 63'4 Union Carb Unisys 11V, Unocal 27V a Un ElecPwr 33 US West 40V; USX Corp 33V, Weslrn Atlas Wal-Mart Weslrn Xerox 103 Zapata 5 Zenith 9V Marine log Marine Log is a column devoted to matters of interest to the Galveston area maritime community.

Please send marine-related news to Marine Log, The Daily News, P.O. Box 628, Galveston 77553, or phone 7443611, Ext. 230. Galveston Holstein Gamer, Lykes Lines, containers, Pier 10T-head. Sedco 472, Sedco Forex, lay, Pier 14 east.

Star of Texas, Biehf and passengers, Piers 25-26. Adriane Inchcape Southern, load grain, Union Equity 30-32. Tor Viking, Ocean Drill, repairs, Money rates Piers 39-40 T-head. Titan No. 5, Gulf Ocean, repairs, Pelican Island Terminal.

USNS Algol, Strachan, lay, Pelican Island Terminal. Bellatrix, Strachan, Lay, Pelican Island Terminal. Texas City Peaceventure SeaChem, load, Pierl. OMI Champion, Amoco, load, Pier 38. Ocean Navigator, JOMARIS, discharge, Pier 40.

Jahre Spray, Paige, discharge Pier 41. Tusa, Holman, load, Pier 45. YORK (AP) Money rales tor Friday as reported by Telerate Systems Inc: Merest rale index. 4.490 Prime Rate: 7 25 Discount Rale: 3.S0 Broker caii loan rate: 6.00 Federal funds marks! rale: High 4 25 Low 4.1875 Last 4 25 Dealers commercial paper: 30-ISO days Commercial paper by finance company: 30-270 days: 4 Bankers acceptances dealer indications 30 days, 427 60 days. 4.34 90 days.

4.42 120 days. 4,53 '50 days. 63 180 days. 4.68 Certificates of Ck-posit Pnmary: 30 days. 3 33 90 days.

3 S3 180 days. 3.83 Certificates of Deposit by dea'er: 30 days, 4.28 60 days. 4 36 90 days, 4.47 120 days, 4.6! 150 days, 4.73 leOdays. 479 Eurodollar rates. Overnight.

4.00-4.125 1 month. 4.1875-4.3125 3 months. 4.4375-4 5625 6 months, 4.75-4.875 1 year. 5 25-5 375 London Inierbk Offered Rate: 3 months. 4 3125 6 months.

4.75 year. S.25 Treasury Bill auction results: average discount rate: 3-morth as of May 16: 4 22 6-month as of Way 16: 4.69 Treasury Bill. annua: zed rate on weekly average basis, yield adjusted for constant maturity. 1- year. asol May 16: 5.49 Treas.

4.87-4.85 Treas BondmarVe! 7.30 Fannie Mae 30 year mortgage commitments: 30 days. 8.30 60 days, 8 40 Merrill Lynch Ready Assets: 30 day average yield: 3.22 Cash petroleum NEW YORK (AP) Petroleum cash prices Friday as compared with Thursday prices Fri. Ttlu Refined Products Fuel oil No, 2 NY hbr bg gl fob .4820 .4765 nl prm fiVP NY hbr bg gl fob .6115 .6260 Gsln P.VP NY hbr bg lob .5230 .5155 Prices provided by Oil Buyer's Guide x- pnces are for RVP grade of gasoline Petroleum Crude Grades Saudi Arabian light per bbl fob 1475 1465 North Sea Brent per fcbl lob 16.25 1615 West Texas InlrmdS pa bblfoo 1890 18.45 AlaskNo, Sip del. USGullCoasI 17.75 17.35 Aiask No. Sip del West Coast 17.42 1695 not quoted.

r-re vised. 6-bid a-asked. Alleged sweatshops raise eyebrows at J.C. Penney meeting The Associated Press PLANO J.C. Penney Co.

annual meeting Friday was peppered with questions about the company's plan to sell clothing made by Leslie Fay which has faced allegations of worker abuses by its foreign contractors. Penney also said it expects 1994 to be its best year yet and will issue a Spanish-language catalog to support its planned Mexican stores. Outside Penney headquarters in this north Dallas suburb, some 15 demonstrators carried signs supporting the International Ladies' Garment Workers' Union and urging Penney to boycott Leslie Fay. The union opposes a proposal by Leslie Fay to close its U.S. dressmaking operations, which would eliminate 1,200 jobs in northeastern Pennsylvania.

Leslie Fay is in bankruptcy protection and has been in contract negotiations with the union. During the meeting, Tim Wagner, a Lutheran pastor from Harrisburg, said he visited several Leslie Fay contractor factories in Guatemala last week. "I observed conditions that were deplorable and despicable," Wagner said. The workers, including teen-age girls, work up to 48 hours straight, earn only 35 cents an hour and sometimes are forced by supervisors to perform sex acts, Wagner said. "Their working conditions are of a sweatshop nature," he said.

Penney chairman William Howell said he was unfamiliar with the conditions Wagner described. "We've had consumers asking for the product at JCPen- ney, and we will look at these issues with Leslie Fay the same (way) we would if it were any other supplier of JCPenney. We do not condone nor do we support or engage in the activities that you described," Howell said. Penney plans to begin carrying the Leslie Fay brand at about 500 stores this fall. The company's clothing also will be offered in the catalog.

A spokeswoman for the Pennsylvania dressmaker did not immediately return a telephone call from The Associated Press. Workplace Fairness Act foes announce ad campaign plans The Associated Press WASHINGTON Opponents of a union-backed plan to outlaw the permanent replacement of striking workers said Friday they were planning advertisements aimed at persuading senators to kill the legislation. Actor Charlton Heston, who appears in the commercials, called the Workplace Fairness Heston Act "a terrible bill," but said many members of the Senate are supporting it because they are "deeply in debt politically to the AFL-CIO." "The AFL-CIO's purchasing power is enormous," he said. "They are in a position to put enormous pressure on a senator or congressman." Heston spoke at a news conference called by the National Right to Work Committee, which has led lobbying against the bill, and in a brief interview afterward with The Associated Press. The House passed the legislation last spring and it already has cleared a Senate committee.

Both sides say there are enough backers for the bill to pass the full Senate, but the threat of a filibuster, in which opponents make long speeches to stall legislation, has blocked floor action. Proponents of the bill have said they are as many as five votes short of the 60 required to end a filibuster. National Right to Work favors the filibuster. 174.5% ANISFUAL MONEY MANAGEMENT STOCK COMMODITY NEWSLETTERS Dr. Robert WLegan VvE DO IRA.

'S CALL FOR DETAILS REGARDING MANAGED ACCOUNTS 4O9-948-108O The Oracle P.O. BOX 2639 Dn lc Personal commodity account from MMCh 19 I993 to March 18 1994 Paitperfonmflce is no guarantee of future results I FWJW1 es $1 SALTZ'S DISCOUNT BEVERAGE MART 2OO1 St. VGS2-93VO 7:30 AM 6 PM 8 AM 5 PM SAT. 'NOTARY SERVICE AVAILABLE" HUGE SPRING CLEARANCE SALE We're making room for all our fantastic new arrivals by cleaning house. Drastic reductions have been $20 and $30 And lots more at to off, beginning Friday the 20th.

At 23rd and Strand at Old Galveston Square. 409-762-7008 at least as much Every Suit and Sport Coat in our stock, including previously reduced items. Brands you know and trust, Made in America, and, free alterations, All dress slacks, shoes, ties, and deal! Save the gas, won't beat these prices SCHWARJZ'S MONDAY SATURDAY 10 TO 8 SUNDAYS 12 TO 5 VISA M.C. DISCOVER AMERICAN EXPRESS.