The Wichita Eagle from Wichita, Kansas • 17

Tuesday November 29 1983 THE WICHITA EAGLE-BEACON Additional Training Needed for Beech 1900 Pilots holders meeting 2 pm on Dec 13 at the Cessna Employees Activities Center General Dynamics has agreed not to buy any more Cessna stock or bonds until one year after the meeting or until after Dec 13 1984 The initial 500005share purchase at $2540 a share is contingent upon General Dynamics Chairman David expected election to Cessna's board at the upcoming stockholders meeting An added wrinkle to the deal is that should Lewis join the board and then resign General Dynamics would be free to buy more Cessna stock if it so desired three months after he left the board Paulson new GAMA chairman Al Paulson chairman president and chief executive officer of Gul-stream Aerospace Corp the only lightplane builder reporting increased earnings in 1983 compared with 1982 has been elected 1984 chairman of the General Aviation Manufacturers Association ing since it first flew in September 1982 the 1900 Airliner required 3000 engineering drawings and 300 engineering reports The document also shows that the 1900's structure the pressurized airframe underwent testing that exceeded four times its estimated 30000 hours of flight life Tests to determine how it could handle icing conditions included 55 hours of flying with actual icing encounters lasting from three minutes to more than 45 minutes More on General Dynamlcs-Cessna deal SL Louis-based General Dynamics which recently announced plans to purchase 500000 shares of Cessna Aircraft stock and participate in a joint advanced technology and research and development program won't have to wait long if it has a takeover of Cessna on its mind According to proxy material for Cessna's stock The delivery next week of Beech Aircraft's first 19-passenger 1900 Airliner to a commercial operator will be accompanied by a major change in pilot training at Beech That's because the 300-mph pressurized 1900 Airliner is the first Beech model weighing more than pounds And that means each pilot flying the 1900 first must obtain a separate Federal Aviation Administration pilot rating called a type certificate for the specific model It's a requirement that stems from the FAA belief that large aircraft require greater piloting skills than those for aircraft weighing less than 12500 pounds the traditional separating point between planes and aircraft Aircraft weighing less than 12500 pounds generally are considered to be similar and can be flown after a minimum number of practice flights without a special rating in each model To handle the FAA's type-rating requirement Beech has added a 1900 Airliner course at its new Beechcraft Training Center in east Wichita It is aimed mostly at qualifying the chief flight instructors commuter airlines and others buying the new model They in turn are expected to do most of the type-certificate training for other pilots employed by the buyers Pilots and passengers are assured that the 1900 Airliner was put through some fairly rigorous testing before the FAA certificated it last week for service according to an FAA-Beech document obtained by The Wichita Eagle-Beacon Besides 750 hours of flight test Sperry to Buy Avionics Firm From Cessna and More Time of Day data The watch unit operates as a normal liquid crystal timepiece with time calendar alarm and chronograph functions but also has a memo display capacity of 2000 characters the Japanese firm said The system will sell for $230 Hattori Seiko Co on Monday unveiled the first wristwatch-type computer system The system composed of a wristwatch keyboard and controller can calculate retain memo data carry out basic program applications and print out Ml Dips $300 Million The basic money supply was virtually unchanged in mid-November slipping $300 million after a revision that increased the previous figure by $300 million the Federal Reserve Board said Monday In financial markets the report was followed by a brief dip in interest rates but rates then returned to earlier levels that were higher than those Friday Shortterm interest rates rose about a tenth of a percentage point on the day The Fed said Ml fell to a seasonally adjusted $5178 billion in the seven-day period ended Novels from a revised $5181 billion the previous week Business Briefings THE PRICE OF GOLD jumped $18 an ounce Monday to a one-month peak in a move that analysts said was a reaction to a weekend heist in London that netted thieves $37 million worth of gold bars On the New York Commodity Exchange gold for current delivery rose $18 an ounce to $39520 and had risen as high as $407 earlier in the day In later trading Republic National Bank quoted gold at $394 a gain of $1625 from Friday YIELDS ON SHORT-TERM TREASURY securities rose in Monday's auctions The government sold about $12 billion in new T-bills half in three-month bills at an average discount rate of 890 percent up from 881 percent and half in six-month bills at an average rate of 905 percent up from 896 percent The new discount rates understate the actual return to investors 926 percent for three-month bills and 964 percent for the six-month bills The Bottom Line Newly started construction contracts fell 3 percent in October from September to $162 million with a sharp decline in public works spending and softening housing demand the FW Dodge Division of McGraw Hill Information Systems Co reported Massey-Fergu-son Ltd the troubled farm-equipment maker reported a third-quarter loss of $119 million a vast improvement over the staggering $227 million loss it suffered in the same period a year ago Honda Motor Co is studying construction of a second automobile plant in the United States possibly by 1986 the company said Beatrice Foods Co plans to sell its SL Louis confections operations to a group from Finland for an undisclosed sum Ford Motor Co has asked the federal government for a reduction in corporate average fuel-economy standards for light trucks built in the 1984 and 1985 model years Steel production fell to 1611 million tons in the week ended Nov 26 a decrease of 52 percent from the previous week and amounting to 558 percent of capacity the American Iron and Steel Institute reported Autoworkers at General Motors Corp and Ford Motor Co will receive the first profit-sharing checks early next year In amounts ranging from $250 to $600 the automakers said No breakthrough was reported in Calvin negotiations to buy Puritan Fashions Corp Compiled by Kim Rice By Law Townsend Aviation Writer Cessna Aircraft Co said Monday that it plans to sell its ARC Avionics Division in Boonton NJ to Sperry Corp a leading New York-based manufacturer of avionics and guidance systems It was the second time in less than a month that the lightplane manufacturer agreed to a major financial transaction involving the company Cessna had agreed to sell 500000 shares of stock to General Dynamics Corp triggering speculation of a future takeover In addition the "memorandum of between Cessna and Sperry calls for Sperry to develop advanced avionics for Cessna's new Citation III business jet Sale price was not disclosed SPERRY PRODUCES avionics for military and airline aircraft plus some general aviation jets and turboprops The ARC acquisition would expand its avionics line Into single-engine aircraft Cessna Chairman Russ Meyer contended that Sperry would be better able to sell the avionics products to other aircraft manufacturers which as a Cessna division it has not been able to do Most of ARCS production is used to outfit Cessna aircraft Meyer also said the division required continuing investment in research and The General Dynamics' transaction involves the pending sale of 500000 shares of unissued Cessna stock to the SL Louis-based conglomerate with the two firms undertaking various joint technology development programs Cessna said it didn't have any additional joint technology deals in the works besides those with General Dynamics and Sperry but said will continue to evaluate all ARC has been part of operations for nearly 25 years and employs 271 less than half the num- ber two years ago Employment ppaked at almost 1300 in 1978 ARC produces a line of about three dozen different avionics units that are installed as standard equipment on Cessna's propeller-driven models UNDER THE new agreement Cessna will continue to offer ARC products as standard equipment in its models where they are currently offered Eldon Kramer spokesman for Sperry's Flight Systems Division of Phoenix which would take over the ARC operation and also is in charge of Sperry's Wichita product support branch that has 160 employees said a final agreement could be reached the next couple of Company officials said no change was expected in Wichita operation Cessna purchased ARC in early 1959 as part of a string of acquisitions that included the 1960 purchase of 49 percent of what today is Reims Aviation SA the "associate" manufacturing company in Reims France Also In 1960 Cessna bought out the McCauley Industrial Corp of Dayton known today as McCauley Accessory Division which produces propellers wheels brakes and other parts for models built by Cessna and other manufacturers plus established a branch of its fluid power products division in Glenrothes Scotland Founded in 1927 ARC (Aircraft Radio Corp) pioneered many of early navigation and communications equipmenL including the first system for instrument flying In 1929 Jimmy Doolittle used an ARGdeveloped system to make the first Big Board Closes Off shares traded at 21 and 511 million shares changed hands overall Associated Press NEW YORK The stock three-week-old rally stalled Monday as prices closed mostly lower The slide stabilized in late trading however Telephone auto retail and oil stocks paced the losers while mining issues posted big gains after the price of gold shot up $18 an ounce in US and European trading The Dow Jones industrial average up 5925 over the past three weeks dropped 762 to 126982 DECLINES LED advances by 4-to-3 on the New York Stock Exchange whose composite index fell 036 to 9619 Volume was 7821 million shares Both the "new" and "old" shares of American Telephone Telegraph again dominated trading THE representing the company after its scheduled breakup Jan 1 was unchanged at 20 A block of 11 million The which will continue to trade until mid-February lost to 65 Most of the seven regional telephone companies to be created by the breakup lost ground including Ameritech down 1 to 64 Pacific Telesis 2 to 52 Bell Atlantic 1 to 67 and BellSouth 1 to 85 Mining stocks rising in tandem with ascent included Homes take Mining up 2 to 30 Hecla Mining 1 to 20 and ASA Ltd 3 to 56 McDonnell douglas feu to 57 after announcing an agreement in principle to acquire Tymshare for $31 a share Tym-share rose 1M to 28 Coleco rose 3 to 21 There is speculation that Coleco has solved production problems that hampered early sales of its Adam home computer said analyst Christopher Kirby of Sanford Bernstein Co Also a line of dolls that Coleco markets called the "Cabbage Patch" dolls are big sellers this Christmas he noted $254000 Earmarked by Judge As Survival Funds for MISCO SALES LEASING SERVICE TRAINING Thus what appears to be the largest Chapter 11 bankruptcy case in Kansas is headed for another crucial hearing Dec 6 when MISCO Supply is scheduled to renew its plea for interim use of cash collateral held by seven banks The company contends that it could be reorganized for continued operation but the banks argue that the firm is hopelessly insolvent A motion by the banks for appointment of a trustee to take over the company or of an examiner to review its' operations also is scheduled to be heard by Morton then His ruling Monday clarified the By Dick Dilsaver BusinessFarm Editor MISCO Supply Co has $254000 available to stay in business through Dec 6 when it will be back in US Bankruptcy Court in its attempt to reorganize in the face of more than $37 million in overdue bank loans Judge Robert Morton ruled Monday Morton also assured that employees of the biggest oil supply firm based in Kansas will have at least one more payday with an additional $90000 earmarked for its biweekly payroll of Dec 7 But the company will have far less for inventory purchases than it soughL BUSINESS SYSTEM SALE! Save $55885 Reg Separate Items 355785 1 2-Disk TRS-80 Model 4 Computer (26-1069) DM P-400 Dot-Matrix Printer (26-1251) and Printer Cable (26-1401) Business Software (described at left) Commercial Lease Available for Only $105 Per Month (Plus Applicable UseSales Tax) funds available to MISCO Supply in two weeks of operations allowed by the judge after an emergency hearing last Tuesday The company initially sought nearly $2 million about $475 for operations and $15 million for new inventory for the interim and last ruling provided $252000 although Morton said he would consider increasing that if specific figures were provided on certain categories The company responded with a request for $781000 including about $489000 for inventory purchase The $254000 specified Monday provides $90000 for the Nov 23 payroll $14000 for rent due landlords other than MISCO Industries the supply parent company $50000 for other operating expenses and $100000 for inventory purchases including up to $50000 for carbon-grade tubular products and $50000 for other items In addition to earmarking an additional $90000 for the Dec 7 payroll the judge said MISCO Supply could purchase inventory for direct delivery to customers if it had prior approval of Eric Engstrom counsel for the banks They are Republic-Bank and First City National of Houston InterFirst in Dallas Bank of Oklahoma in Tulsa First National of Oklahoma City First National of Chicago and Fourth National of Wichita BMAC Ballots Impounded PkmC a tradamaifc si Comahart a kadamaifc of Sollwara Pubkahng CHRISTMAS COMPUTER CAMP GIFT CERTIFICATES Aiie Give someone a head start in computing! Camps for ages 8-1 1 12-15 1 adults will be held Dec 26-30 at Radio Snack Computer Centers Comput- Each era and Instructors provided at each 2-hour dally session Most Centers Open Late Nights Until Christmas meet late Monday with BMAC representatives to discuss the problem Union sources said it involved company claims which were repeated by union officials at a rank-and-file membership meeting that pension benefits under the new contract be neither significantly greater nor significantly than under the previous contract Individual engineers said their subsequent personal calculations showed future retirement benefits would be decreased from 3 percent to 6 percent under the new A controversy over pension benefits prompted the Wichita Engineering Association Monday to Impound the mail ballots of its members on a new contract with Boeing Military Airplane Co delaying the outcome of voting The balloting officially ended Monday and affects about 1600 BMAC engineers The proposed three-year pact would replace one that expired Nov 15 Union president Frank Vopat declined comment saying only that union officials "are trying to resolve some of the problem" He said a second mail balloting was being considered Union officials were to Local Computer Center! () and Expanded Computer Departments Serve You Better Wichita Coulevard Plaza Shop Ctr 681-1212 Wichita 4600 West Kellog 945-7361 Emporia Flint Hills Mall 343-6962 Hutchinson 2420A No Main 669-0812 PRICES APPLY AT PARTICIPATING STORES AND DEALERS A DIVISION OF TANDY CORPORATION.