The Galveston Daily News from Galveston, Texas • Page 14

Thursday Morning, August 29, 1985 QJlje (Salueston Sailu 1 5-A COTTON STATEMENT RECEIPTS Great Britain France Continent Africa So. America Middle Kast Orient Total By Container By Rail By Truck TOTAL EXPORTS TtlUDiy 300 FOREIGN EXPORTS Sakowitz to close five stores, reorganize This Season S.77G DOMESTIC SHIPMENTS 11,627 222 C20 12,409 8,893 13,931 13,934 10,217 HOUSTON (AP) The financially-troubled Sakowitz Inc. will close five stores, including two in Houston, as part of its plan to reorganize under federal bankruptcy laws, officials said. The downtown Houston store, open since 1908, and the store in southeast Houston will shut down before Nov. 10.

The company also plans to close three stores in Dallas, Midland, Texas and Tulsa, Okla. before February and may close or sell a store in Scottsdale, officials announced. The closings reduce the high- fashion chain store's size by a third since filing for reorganization earlier this month. Sakowitz filed for protection from creditors under Chapter 11 of the federal bankruptcy code Aug. 1, blaming its financial problems on the energy recession and an influx of aggressive retailers.

Trade reports pegged the company's losses at $2 million on sales of about $120 million last vear. At the time of its bankruptcy filing, Sakowitz had begun to consolidate its downtown store to one shopping floor, but those plans were shelved when it became apparent that the store would be closed, a Sakowitz spokesman said. "The fact that Sakowitz stayed downtown longer than any other high-fashion specialty store speaks for itself," said Robert T. Sakowitz, chairman of the 83- year-old family-owned retailer. "The problem is that downtown shopping is limited to the noon hours while we have to staff the store for an eight-hour day." Some employees of the downtown and Gulfgate stores will be offered jobs at the remaining stores, according to a statement issued by Sakowitz.

Others will retire or be laid off. 27,276 This report Is provided through the courtesy of the Galveston Cotton Exchange and Board of Trade. Stocks rally near close of a dull day NEW YORK (AP) Stock prices staged a mild rally Wednesday near the close of a sluggish late-summer session. A few blue chips involved in corporate restructurings and stock repurchases led the advance. The Dow Jones average of 30 industrials rose 8.62 to 1,331.09.

Volume on the New York Stock Exchange stepped up to 88.53 million shares from 82.14 million Tuesday. A big chunk of the Dow's gain was accounted for by Westinghouse Electric, which jumped 4is to 3814 on news that the company plans to buy back as many as 25 million of its shares, and is considering selling its cable television business. The average also got a lift from Union Carbide, up at on volume of more than 4.6 million shares. The company announced a broad restructuring plan that includes the repurchase of as many as 10 million of its shares. Otherwise, analysts said it was difficult to read much significance into the market's meanderings with many investors on vacation or waiting until after Labor Day to get a better reading of the pace of the economy.

Many optimists in the financial Hunts' net worth shrinks (The following quotations are supplied through courtesy of Merrill Lynch Pierce Fenner Smith ot Galveston. For Information, call 762-7616.) Allied Corp 414s Kroger 42M Alum Co Litton Ind 79 7 AmerAir 45 Lockheed 53 Am Can LTV 8H Am Cyan 54 7 Mid So UNI 9 Am Motors 3 MinnMnn New Monsanto 51V? Ameritech 90 7 Motorola Amoco 65 Mobil Oil 29H Armcolnc 9 7 NtGyp 50 Atl Rich 60V7 Norwst Ind Bell At Nynex 86 Bell So Pac Gas El 13 7 BethStl PacTel 76 Boeing Co Panhdl Est Borden 38 Penny Borg Wrnr 2 Ue PZL 48Va Campbl Soup 37V? Pepsico Celanese 120V1 Phil Pe. 12'A Chevron Polaroi Chrysler 37'A RCA Coca Cola 72 Raytheon 50? Colg Pol 26Vj Rnlds M11 35V? CBS Rnlds RJ 27 7 CntrlData 24'A Royal Pat Delta Air Safeway 3) DowChem Santa Fe DuPont Sears Eastern Air SrvClntl 36Va Ensearch 23Va ShrwnWms 3 Exxon Sig Cos Firestone Silver 6.33 Ford SoUnGas FrptMor 19 SW Bell 83 GAP Sperry GenElec 61 Vi Tenneco Gen Foods 78H Texaco Gen Motors 68U Tx Corp 34Vi GTE Txlnstr Gillette 61 Textron 55Va Gold 340.40 TexUtil 29 Goodrich 32 Todd Shpyd 31 Vj Goodyear Transco 48 Gordon Un Carbide Greyhound Unocal 29 Halliburton 29 Uniroyal 2TA HewlPack 36V? USSteel 30H Honeywell US West 79 Hous Ind 274i Walgreen Hughes 13 Wal-Mart 51 Vi IBM 128 Warner IncoUd 14 Western InterFirst 11H Westrn Un Int Harv Wstnghse Int Paper Woolworth 49 Xerox 524fe JohnMansv Zales 27 Kaiser 16 Zenith 18 7 K-Mart 33'A (The following quotations, supplied by Merrill Lynch, are of particular local interest because of the nature cf the organization or because of holdings or operations in this area.) AmlndFncI 19V? 20 AmNtllnsCo 35ft Anheuser Bosch AnicoGrowth 4.06 4.44 Anico Income 18.33 20,03 Centel Corp Cullen 23 Falstaff 6'A Hornbeck UB 1 'A Metro Air We 18 MitchE 13'A NatlWLife 8 14H SealFleet 1 Stewartlnf 24 Stewart Stev 17'A world base their case on an expected pickup in business activity through the rest of the year, and possibly into 1986. In the skeptical camp, analysts argue that those hopes might not be fulfilled, leaving the market vulnerable to a letdown. Though the week before Labor Day has traditionally been a quiet one in the markets, it has also often produced some gains in stock prices as traders look ahead to the "business New Year." For that pattern to hold this time around, analysts say, it would be helpful if the government's index of leading economic indicators carries a positive message when it is reported on Friday.

General Public Utilities rose 1 to On Tuesday a federal appeals court upheld a regulatory decision to allow the company to restart its undamaged nuclear reactor at Three Mile Island. ITT Corp. gained to in brisk trading. The company said it knew of no explanation for the activity. Uniroyal dropped 'A to 21'A on word that government regulators plan to bar the use of an agricultural chemical produced by Uniroyal to promote the growth of apples.

In the daily tally on the Big Board, more than four issues rose in price for every three that lost ground. The exchange's composite index of all its listed common stocks gained .38 to 109.39. Nationwide turnover in NYSE- listed issues, including trades in those stocks on regional exchanges and in the over-the- counter market, totaled 105.71 million shares. Standard Poor's index of 400 industrials added .82 to 209.89, and 500-stock composite index was up .73 at 188.83. The NASDAQ composite index for the over-the-counter market climbed 1.01 to 296.99.

At the American Stock Exchange, the market value index closed at 233.73, up 1.28. Britain and France launched commercial service of the Concorde supersonic jet in 1976. NEW YORK (AP) The net worth of the Hunt brothers of Dallas has shrunk by at least half since bankers bailed out the family from a silver trading debacle in 1980, the Wall Street Journal reported. The report said the Hunt brothers put the combined value of their trusts and personal holdings at about $2.6 billion, against the $5 billion to S6 billion claimed in 1980. It said banking sources put the brothers' current net worth at less than $2 billion.

The difference in value between the family and the banks reflects assumptions about the future course of oil prices and provisions for disputed tax claims and lawsuits involving the family. The slide in fortunes for Nelson Bunker Hunt and brothers W. Herbert and Lamar is tied to the collapse in world oil prices and the costs of holding on to 59 million ounces of silver amassed in speculation. The family trust's main holding, Placid Oil was lent $1 billion by banks to rescue the Hunts from huge silver trading losses. Silver, which peaked at $52.50 an ounce in early 1980, currently trades at around $6 an ounce.

The Hunts' silver holdings, valued at billion in 1980, now are worth about $350 million, the report said. The Journal said the usually secretive family authorized its Dallas attorney, Ivan Irwin, to provide information to the newspaper to preclude inaccurate speculation about the Hunts' financial condition. Irwin did not return telephone calls from The Associated Press on Tuesday. WEST END GROCERY DISCOUNT LIQUOR BEER WINE 76S-6822 OPEN TIL 8 P.M. 2203 STREET CASH CftWIY SPECIALS GOOD WON, HM.

SAT. "KIOPROOF leather styles that will look newthrough a whole year of trips to the head of the class The smartest styles, long-wearing quality, expert fitting. little feet should always go bock to school in shoes from Simpson's! Jumping-Jacks. "Julie" in novy or grey Sires to 12. a ar.d 0 ividms.

Galveston Galvez Mall Texas City 3474 Palmer Hwy. 146-2651 Shop 10-7, 10-5501. 740-UJl 1-5 Sun. BOURBON OLD FORRESTER PR JACK DANIELS GREEN, CANADIAN W.L. MATTINGLY MOORE CALVERT EXTRA EVAN WILLIAMS BLACK, PR GRAND CANADIAN SCOTCHESVAT 69 PR JOHNNIE WALKER PR GRANT'S PR GiNGlLBEY'Seo McCORMICK BEEFEATER PR 750 6.69 7.99 8.49 7.99 4.99 5.89 5.99 5.99 5.49 5.99 10.49 6.49 10.49 9.99 5.49 3.99 9.49 ML.

Litre 8.29 10.25 10.49 9.99 5.99 7.49 7.29 6.99 6.69 6.99 12.99 7.99 12.99 10.99 6.99 4.99 11.49 1.75 Litre 13.49 17.25 16.99 16.49 10,49 12.49 12.39 11.99 11.49 11.49 18.99 14.79 19.99 16.49 10.79 8.99 18.79 BOOTHS PR 4.99 6.99 10.79 VOPKAMCCORMICK 3.89 4,89 6.99 SAMOVARS 5.95 7.29 11.69 RUMCORAL BAY 4.49 5.49 8.99 RON MATUSALEM White or Gold 80" PR 4.69 6.19 9.39 MYERS'S RUM CREAM PR 14.99 TIJUANA TEQUILA PR 4.99 5.29 9.29 BRANDYALMADEN PR 5.49 6.49 11.49 CHRISTIAN BROS. 6.49 8.49 12.99 ROTHCHILD VSOP Fronce.80" PR 6.29 7.99 12.99 MANISCHEW1TZ WINE CREAM 5th 2.49 1.5 Litre 4.99 AND L1QUER 500ML 12.89 HOT BEER SPECIALS MILLER LITE Co.o of J4 9 99 BUDWEISER, BUD LIGHT of 14 13.01 9 .9 9 OLD MILWAUKEE. PABST tl AA BUSCH or PEARL of 17. 01 7.99 MICHELOB of 14 or Can. 1 1 ,99 PABST RED BLUE of Can, 6 5 9 ME1NEKEM.

BECKS or MOOSEHEAD Impld ox Con 2 9 BLACK LABEL Cos LOWENBRAU Cot OI SCHLITZ Col ol SCHAFERS, MILWAUKEE'S BEST. TEXAS PRIDt, FAISTAFF or PEARL Glo.il of 12 1 J.o. OIa BEER MADE BY PEASL Can. 6.49 MILURS. SCHUTZ MALT cot.ot 14 oi.Can.

TT orBUOWEISER KING COBRA or SCHLITZ MAU Cal 0 Can .75 O'DARBY IRISH CREAM LIQUEUR 6.99 CIGARETTES K1MG A DOJO'forUO 8.99 a nd es.