Columbia Daily Tribune from Columbia, Missouri • 22

PAGE 6B THURSDAY AUGUST 28 1997 I Columbia Daily Tribune Marketplace I Market Summary Market roundup August 27 1997 A 778733 7X50JH I Highest dose s25911 WlDillRi 511 Lw 766655 1 W'MJw B650 8250 Jr AV C7 7850 aZ 7450 7050 6650 6250 6197 7197 8197 9197 10197 Local stock ticker Daily closing prices courtesy of Stifel Nicolaus and Co Inc Stock Yesterday Change Stock Yesterday Change ADM 211516 116 Heilig Meyers 141516 116 3M 91 Vi Hubbell 43 NC AP Green 1014 NC Imation 26 Ameritech 64 48 AMOCO 97 2 Mercantile 68316 Anheuser Busch 43 NC Merck 93 1 40116 316 Monsanto 44 Boeing 55 516 1516 NationsBank 63 1316 Casey Stores 22 PepsiCo 37116 Chrysler 35 516 Philip Morris 45 Commerce 52 NC Procter Gamble 36 ConAgra 64 Quaker Oats 48 Dana Corp 46 Quarterdeck 253 003 Deere 56 916 316 Ralston Purina 92 39 516 Southwestern Bell 55 716 Disney 78 1 Sprint 47 1316 Dollar General 41 1116 Storage Trust 24 Duke Energy Corp 49 TCI 17 116 Emerson Electric 55 Tenet Healthcare 27 716 ord Motor 43 Textron 62 116 916 ortune Brands 35116 Toastmaster 3 716 116 General Electric 62 Tyson 21 General Motors 64316 1316 Union Electric 37716 GTE 44 United States Cellular 30 116 HealthSouth 25 716 1 Wai Man 35 1516 financial summary NEW YORK (AP) Blue chip stocks halted a NASDAQ nyse luur session rosing streaK yesterday as depressed prices generated some buying interest but the smaller company sector stole the show with a record finish The Dow Jones industrial average rose 511 to 778733 after recovering from an 85 point slide that briefly put the blue chip barometer below 7700 Broader stock measures also rebounded in the af ternoon as bonds recovered from a slide that tempo rarily sent interest rates toward their highest level since early summer The Standard 500 stock list rose 068 tn 91370 the NYSE composite index rose 069 to 47605 and the Nasdaq composite index rose 424 to 159554 The Russell 2000 rose 253 to 42084 edging record close of 42073 The Amer ican Stock Exchange composite index which has a large constituency of smaller com pany stocks rose 382 to 65112 about 3 points shy of record territory The early weakness in blue chip shares threatened to overshadow another strong day for smaller company stocks which were higher throughout the session financial wire NEW YORK (AP) Stocks slid this morning resuming this steep downlurn amid revelations that inflationary pressures may not have eased as much as thought in recent months At noon on Wall Street the Dow Jones industrial average was down 9499 at 769234 after sliding as much as 129 points earlier Broad market indexes were also posting heavy losses despite a strong bond market where interest rates fell even after a report showing that the economy grew far more briskly in the second quarter than originally estimated The Standard 500 list was down 1045 at 90325 the NYSE composite index was down 455 at 47150 and the technology heavy Nasdaq composite index was down 1289 at 158265 The biggest decliners today were JP Morgan down 1 1316 at 108 Cater pillar down 11316 at 58 and IBM down 1 916 at 102 516 Declining issues outnumbered advancers by a 7 to 4 margin on the New York Stock Exchange where volume came to 20503 million shares down from yesterday's pace Smaller company shares which have benefited from the recent exodus from the blue chip sector were also retreating today although not as sharply commodities line CHICAGO (AP) Soybean and corn futures prices rose sharply yesterday on the Chicago Board of Trade as forecasts for weekend temperatures in the 90s raised con cern about stress to maturing crops Wheat futures also rose sharply Wheat for December delivery rose 9 cents to $388 a bushel December com rose 4 cents to $272 a bushel December oats rose 2 cents to $164 a bushel November soy beans rose 1 1 cents to $626 a bushel October live cattle fell 135 cents to 6762 cents a pound October feeder cattle fell 150 cents to 7950 cents a pound October lean hogs fell 02 cent to 6932 cents a pound ebruary pork bellies fell 197 cents to 6607 cents a pound Columbia Livestock Auction results eeder cattle: 831 (special) week ago 255 year ago 458 Demand moderate to good eeder steers and heifers under 500 lbs poorly tested 500 600 lbs steers and 500 700 lbs heifers mostly steady steers over 600 lbs undertone weak to 200 lower Slaughter cows about steady on a light test Supply near 53 percent feeders over 600 lbs and 3 percent cows eeder steers: Medium and Large 1 few 400 500 lbs 9100 9700 few 525 550 lbs 8600 9500 550 600 lbs 8375 9150 600 650 lbs 8125 8775 650 700 lbs 7875 8500 700 775 lbs 7850 8200 few 850 880 lbs 7260 7780 Medium 1 few 525 575 lbs 8375 8625 650 700 lbs 7010 7790 eeder heifers: Medium and Large 1 pkg 335 lbs 8600 few 400 475 lbs 8150 8750 550 600 lbs 8025 8575 several 600 650 lbs 7600 8075 several 650 750 lbs 7510 7800 few 750 775 lbs 7310 7425 Medium 1 few 500 600 lbs 7350 7550 Slaughter cows: Hi Cutter Utility and Commercial 1 4: breaking and boning 1 3 bulk few 3650 4000 hi dressing Ind 4125 Io cutter few 3350 3575 Slaughter bulls Yield Grade 1 few 1300 1575 lbs 4510 4725 500 AMEX UP TO REWARD 1 STOPPERS Columbia Complete Anonymity Call 875 TIPS (8477) "Very nice company to deal with Happy with appearances ft response of ad Sold property within 9 BT Moberly Lake Property All utilities are in AC electric heat no steep banks to climb close to water work is done perfect i for retirement factory built dock extra clean on 350 acre lake 10 hp limit Sugar Creek Lake Moberly Recreational Property Tribune Classifieds Call (573) 815 1855 1 or toll free 1 800 333 6799 mita The Image Specialist WW DC 1860 XjEk MVLEAS vb 18 fast copies per minute Runs up to 90 lb cardstock 10 preset reduction 8 enlargement ratios Environmentally responsible Toner recycling system Reversing automatic document feeder I automatic duplexing available 449 2663 da com CORPORATION of Mid Misouri 1 406 Rangeline 1 Boonville takes boom to the bank By KEVIN COLEMAN Bank on it Boone County National Bank yesterday announced it signed an agreement to purchase the 4000 square foot Mercantile Bank branch in Boonville Terms of the acquisition which included land and building were not disclosed are very excited about this opportunity to expand" BCNB president Bo raser said inal approval of the agreement by banking regulators is not expected for several weeks Even though Boonville has been in the spotlight recently as a potential economic boomtown resulting from riverboat gambling raser says the acquisition was made irrespective of the casino boats "We've been watching that market for some time he said think there's a lot of potential over there close to Columbia and a good fit with our A few months ago billionaire Marvin Davis was selected to open Mid first casino in Boonville Davis Gaming Boonville Inc plans to" invest up to $75 million to redevelop 30 acres of Boonville's riverfront and open two floating casinos during the first quarter of 1 998 Mercantile Bank officials could not be reached for comment on their reasons for pulling out of Boonville BCNB which is owned by Jefferson City based Central Bancompany Inc will have 10 branches after the acquisition of Mercantile's Boonville branch Before the Boonville deal only the Ashland branch was outside Columbia BCNB which opened in 1857 has 327 employees and assets of $575 million During 1996 it reported net income of $8 million oxy lineup Local ABC affiliate KMIZ TV has recently completed acquisition of two low power VH television stations and will convert them into ox network affiliates is a small but important step for us in this general manager Pat Dalby said Columbia viewers should get the picture beginning Sept 6 over TCI Cable Channel 1 1 St Louis NBC affiliate KSDK which was on Channel 11 will be shifted over to Channel 4 Dalby says Columbians without cable might be able to pick up the new ox network station on Channel 2 but because it's a low power situation the signal quality could be doubtful KMIZ plans to petition the CC for a power increase to boost the signal's strength Meantime TCI of Missouri and Capital Cable will be used to carry the signal to Columbia Jefferson City Mexico and Moberly The new stations will broadcast all ox network fare plus syndicated features and Big 12 Conference sports Syndicated shows will include and ox network affiliates can also carry local advertising spots and local news KMIZ TV is owned by Rockford Ill based Benedek Broadcasting Corp Update second annual Downtown Jazz and Wine Pub Crawl scheduled for Sept 18 has added Cafe and Cornerstone Cafe Bar to the eight venues mentioned in Street Talk on July 9 The event will be part of Downtown Twilight estival Pub crawlers pay $25 for a pass to boogie and groove around the 10 venues where they can sample Mid Missouri vintage eat hors and listen to live jazz The music bonanza will be capped off that night at The Blue Note where pub crawlers can hear zydeco group Chubby Carrier his Louisiana Swamp Band for no cover charge Last year 150 pub crawl passes were sold at $20 a pop This year 500' passes are up for grabs at $25 each According to event coordinator Jon Poses about 300 passes already have sold Proceeds from the event will help sponsor this "We Always Swing" jazz concert series Pub crawl passes can be purchased at each of the participating venues Cool Stuff and Streetside Records Cool cat in the hat Cool Stuff owner Arnie agan has scored some more publicity This time in the Discoveries section of Midwest Living October issue In a blurb titled "Hot Shopping at Cool store is called a "bizarre bazaar which sells a world of oddities in downtown Columbia Arnie is pictured on a bicycle contraption wearing a funky kind of Uncle Sam top hat Midwest Living magazine which is owned by Des Moines Iowa based Meredith Corp has a circulation of 815000 Kevin Coleman is a Tribune columnist Send your comments business news information or questions to Street Talk in care of the Columbia Daily Tribune PO Box 798 Columbia Mo 65205 0798 or call 815 1522 Send faxes to 815 1521 or mail to awaterstribnet Hom TALK Largest meatpacker buys idled plant OMAHA Neb (AP) The largest meatpacker is taking over an idled Nebraska plant at the center of a massive hamburger recall and hopes to reopen it within a few weeks IBP Inc said yesterday it will buy the Columbus plant from Hudson oods Inc which went looking for a buyer after its biggest customer Burger King refused to buy any more meat from the company because of the recall The plant voluntarily shut down Aug 21 after a national recall of 25 million pounds of its ground beef An outbreak of coli contamination this month in Colorado was traced to the plant which federal regulators are investigating for alleged un safe practices IBP did not disclose the purchase price It said it will work with the Department of Agriculture on any recordkeeping and manufacturing concerns IBP spokesman Gary Mickelson said the com pany hoped to bring back Hudson oods custom ers including Burger King are committed to high quality safe food production" Mickelson said "We will have the same high standards in the Hudson plant that we have in the rest of our USDA officials are trying to find which supplier was the source of the contaminated beef IBP was one supplier but Mickelson said the company had no indication its product was involved or sus pected in the recall The recall has prompted meatpacking trade groups to ask for new hamburger processing methods and abandon the common practice of mixing in one day's leftovers with the next supply Experts said the process known as the refrigerated meat is safe But one more way coli could spread through several batches of meat Regulators have no policy against the pro cess Beef processing represented about 6 percent or $91 million of Hudson's total sales of $14 billion The majority of the Rogers Ark based business is in poultry The Columbus plant is Hud only raw beef processing plant IBP based in Dakota City Neb is the country's leading packer of fresh beef pork and related products It employs about 38000 people world wide Officials said all 230 Hudson plant employ ees will be given the chance to stay on Burger King adds beef to fight against Big Mac NEW YORK (AP) Burger King has its own ideas for a Big Mac at tack even as consumers are being bombarded by the latest beef safety scare The second biggest ham burger chain was expected to an nounce today that it would add the Big King sandwich to its regular menu across the country in direct competition with the Big Mac from industiy leader McDonald's The Miami based company con firmed that there would be a new product announcement but declined to elaborate Thomas Willcox who owns seven Burger King restaurants in Maine and New Hampshire said he was briefed on plans for the new Big King to be introduced Sept 1 The sandwiches contain two beef patties cheese and a special sauce as the Big Mac does But the Big King will have 75 percent more beef 56 ounces vs 32 ounces and have the extra slice of bread that sep arates the patties in the Big Mac Willcox said are going after their flagship sandwich with something better that is broiled and not fried and that peo ple can have your Willcox said The product plans for the Big King were made long before the recall of 25 million pounds of ground beef from a Hudson oods Inc plant in Nebraska Burger King the biggest customer of the Nebraska plant pulled all of its Hudson supplied hamburger and said it would no longer buy beef from the company That left about a quarter of the Burger Kings either without or short of hamburger for a day or two last week There is no indication any tainted hamburger wound up in Burger King products overall US sales were more than twice as large as Burger last year but Burger King is closing the gap share of the market fell to 419 percent in 1996 from 423 percent the year before while Burger King rose a percentage point to 192 percent according to the research firm Technomic Inc wc vonteM rules for complete detail Play to Win Sundays September 7 28 Must be 21 years old No purchase necessary Winners will be announced in Today's a Winner Home Wild Card Contest Complete the entry blank printed in the Tribune and find the Wild Card in Home Entries must be received by Thursdays at 3 pm juvertr01' to A I 2 passesnos 0rKtverporv I I $250 cash I WeeWY ytUeS! IjUjlOOcasb I Gr priW Turn to your classified for your career needs Call 815 1855 for help in placing your Tribune classified ad Top Earning Money Market Account 512 APY I for balances 550000 or more fjfp Sfiu'KTMhniT nrrnh'lu'T Ww nr uvi iri i nwv vii A high yielding money market account with rates like a certificate of deposit Interest rates increase from savings tier to savings tier Access your funds by check or ATM Earn competivcly high interest rates DIC Insured BOONE A NATIONAL SAVINGS AND LOAN Ninth and Broadway (573)443 3179 24 1 IOUR RATE 1 IOTUNE: 4 19 5771 Minimum ifnwiKdcpiMl lln) Anmul nrld (AIY)nirit a of rtu pMonun Jatr UMkAPYwnhWOnununuin bJjiw nqumj 4 54 4 APY with UOinOmuii 7 mum IbUikt mjnml 407)4 APY with $5pB minimm Maw mjiiml JWx APY Willi IJXX) minimum ImUim nquuril APYxubjm tudungeinxdg rrmxin cnmimr with marVt co nu aflat canungx tl auunt IfHrmt viNtipunded tnmithly Market Summary Dow Jones TALK UP T0 1000 REWARD mita CORPORATION of Mid Misouri.