The Indianapolis Star from Indianapolis, Indiana • Page 43

THE INDIANAPOLIS STAK WEDNESDAY, JANUARY 1, PAGE 44 BUSISESS ASD ISDUSTRY STRICTLYBUSEVESS By DALE McFEATTXRS Penn Central Picks City Man To Run New Haven Statement Of Treasury WssM-iatea (AP) Tht 4 KKitiM 1 the Trwswy Doc J. 18 compared to Oee M. 147 Balance MK.WMttM I T.5 J.m.ttt Deposits fiscal WT 1 ttMtjmjM.H Witkdrnwalt ul rwr M2I.7W.3M.! UMAAti.m.ft TOTAL DEBT 360,199,990916 346,895,693,735.64 cm assets ltjM.NMtt.M nMunjajn s-lnciudes UJfSlt.KtU not sufetect to statutory limit. 1969 Output Of Steel Seen Setting Mark xwjffs i.n-x Wall Street Seeks Cure "lSY BEJTS Indicators IU a a i-JH 4 By JOHN H. LYST Wall Street is cranking up for the new year with a resolution to get back on the five-day week and a promise for practical solutions in 1969 to the myriad of problems in the record trading year just past All that is expected to be accompanied by more face-lifting: remodeling in the "front rooms," the "back rooms" and "upstairs." ft 9 a a I 4 V5 A 4 91 4 Market stock, in thi spotlight NEW YORK fAPl Sale, etoslna price no ner cnanga or trie ntteea most active stocks traded on the NY Stock E- cnange.

Woolworttt 147,500 3J" -1V4 Neil Genl 245.000 Roan Sal Tf 188.000 444 5d J7 38 55 S3 19V4 im olH 47- 36" 25 1'A 1 Vi Kmea SS .160,500 .1,700 .151,300 Cornier Auto SpriUr 1 Mocy RH Magnanx Am Tel Tot Glen Aid ..124.308 .104.200 .104,100 Vi .100,100 .105,000 East Air Lin Std Oil Ind M.7H0 Occioen Pat liAOt) Te Glf Sul ai.JOO GIPaso H9 IMOO 1 '4 Vl WHAT STOCKS 010 Prev. day Advances 7-u Declines 617 1095 Unchanged 247 faj Total issues ii ir New night 20 21 New lows 2S 24 NEW YORK STOCK CLOJINO INDEX Market 5 cents lnde H.90 0.O6 Industrial 41.6 0 07 Transportation 54.27 0 25 Utility 45.82 0.07 Fjnenct 74.4a QM 4 m.i a or. ..114 illl 4 4 Taylor ILL, Chicago, Cleveland and Buffalo, New York. A railroad spokesman said Taylor was present when the documents were signed in New Haven, and will assume his duties there immediately. Stocks Close With Climb; Dow Slides SIS'" f-i rf fr4' Trade Game Promotion Deceptive, U.S.

Contends New York (AP) Steel consumption may set a record, in 1969, Roger M. Blough, chairman of United States Steel Corporation, said yesterday. This, he said in a yearend statement, would be a continuation of improvement that occurred late in 1968. "FINAL results will of course, depend upon the vigor of our nation's economy which in turn is necessarily influ enced by international decisions yet to come," he added. Use of steel In IMS reached a record of slightly more than 100 million tons.

Blough noted that steel buy ing was heavy early in the year as a hedge against a pos sible strike, dropped sharply after a labor agreement was reached Aug. 1 and picked up later. 1 Blough predicted that ac tivity in most larger steel-con suming industries in 1969 would be at a slightly higher rate than in. 1968, reflecting growth in the over-all econ omy even if at a somewhat slower pace." Midwest Stock Exchange Chimin 'API Pallnwina Is list nf selected transactions on tht Midwest Stock. Exchange yesterday, zoo Ancn coup 4000 Arm Dial 1500 Arm Paint 3900 Athey Pd 1600 Barton DIs 700 Bastlan Bl 200 Belden 300 Blnks MfO 14500 Curtis Pub 500 Duncan In 800 Gen Box 700 Gralnoer 500 Gt Dred 300 Hellemn 50 IndnAktl 750 John SbStt 500 Kiwoe Leath Co 100 Louis Cent too Marhoef 950 Means 100 Metro Ind 500 Mickeies 50 Modlne 500 Nachmn 15100 Nat Horns 2J 13 23 Vk 20W K'M ZOiA 48A 47 48 '4 n'e li'A im 11 ll'A 11'A 35 34 35 1 33 3214 3Vh lVi 191 7 tH ItH lfrH IMS 14'4 14M 14Vts 35V.

37 3 75H 70 72H SHt a 61 43 Z8 27 27 304 30Vi 30V. MS B4 27V 56V4 13 30 USA i 1 4 'in-Ti! ,1,1111111 mi mTrrM I 1 mat i I -1000 rHft- Tjlf mmlt a 10 ii wi I i tj NOVIMt DKIMKII 0r i fT.i t-t -i '6-1 '14, IT n.A Knan. iru, vvj 4900 NHome wr 23. 20'4. 2500 No III Gas 78390J.

WI III was isnn DMtar 11 Mi 11 600 Richman 48 48' 2200 Supr Food 18 18' 18'A Vk 300 Tno tmi io i. Total stock sales 550,000,, Jeremy Taylor, 4440 Berkshire Road, was named general manager of the New Haven division of the Penn Central Railroad following the merger of the two railroads yesterday. of the bankrupt New Haven line ends a five-year battle. The $6.3 billion merger of the New, York Central and Pennsylvania Railroads, which took pace last was ap proved by the Interstate Commerce Commission on the condition that the New Haven Railroad would, be Jrcluded. With a price of $145 million on the 1, 555-mile New Haven line, Penn Central and New Haven officials signed some 2,000 documents yesterday to make the merger officiaL Taylor was general manager of the Peon Central's south ern region with headqaurters in Indianapolis.

He came here in May, 1967, as general manager of the New York Central's southern region. A native of St. James, New York, Taylor joined the railroad in 1952 after his graduation from Cornell University. He worked briefly in the Indianapolis office in 1953 and had subsequent assignments in Toledo, (O.) East St. Louis.

Indiana O-T-C Prices Quotations of over-the-counter securities from tht National Association of Securities Dealers are representative of prices at the time Indicated. Inter-dealer markets change throughout the day. prices do not Include markup, markdown or commission. Dec II, 4 p.m. "rwlaialc" ara alahthl Bid Asked American Fletcher Nan Bank 45.4 American liicoma Life Ins.

.11.1 44.4 1J 'American States Ins. tUS Ptd 17 tAmerican States Lift 12.4 Associates Life Insurance 2.5 L. S. Avres com 38.2 L. S.

Ayres 4Vj fd 78 Bankers United Lift 8.1 Bis-Dynamic 53 Bushier Corp com Il.t Coastal States Lift 14.4 Commonwealth Ln. pfd ..57 College Life Insurance 26.4 Consumers National Lift 13.4 Credithrift com. 4 Credithrift 4W4 Pfd -A-- i Duncan Electric 24 Eouitable Securities com 35 Esterline Corp 49 Farm and Home Insuranct 2.4 First Equity Sec. 4.1 First United Life 1-i Foster-Forbes Glass com ...41 Foster-Forbes Glass SVs tM 43.3 Frankha Electric M-4 Franklin National Life General Automotive Parts 19 Gen. Tel.

of Ind. $2 28 Gen. Tel. tf Ind. $2.58 pfd 34 Haat Drut 8 Hamilton Cosco Hamilton National Lift 8 Herff Jones IM Hook Drugs 53 Indiana Gas M.7 Indiana Insurance Co.

23 Indiana Natlenal Bank 51 Indiana Tel. Corp SWK fff JO Indiana Tel Corp 5 Pfd 44 i.i... fa I rata. A AAQj. Bid 63 13.2 3 39.2 8.4 54 12.4 15.1 17.4 14.2 41.4 25.4 71 3.2 4.4 3.2 43 2M 11 10.4 9 22.4 9 20.2 55 27.3 24.4 52.4 Indianapolis Water Indianapolis Water 4', pfd 54 Indianapolis Water 5 Pfd 44 Inland Container Co 41 Jefferson Corp 1J.8 Jefferson National Life 18 Layman Life Eli Lilly Co.

74 Lilly Industrial Ceatint A 24 Lincoln National Corp 74 Marsh Supermarkets 14.4 Merchentt Natlenal Bank 53.4 Meridian Life Ins 11 Midwestern Co's 12-4 Midwestern United Lift 20.4 Naples Co 2.1 111 Realty Paul Harris Stores 8 Penn Controls 54 Progress Laundry 11 Ransburg Electro-Coating ,...32 Real Silk 85 Srhwab Safe 4.4 Shippers Dispatch 29.2 Standard Llfa Insuranct 13.4 Sta'- Security Lilt 1-5 Texscan Corp 11.4 Tokhelm Carp. 28.4 Underwriters Nat'l Assurance 36 Unified Funds 1J Unified Underwriters 14.2 United Home Life 4.7 United International 1.5 United Teleahone 54 Pfd 44 21 42.4 15.4 19 7.4 77.4 74.4 15.4 11 11.1 11.4 57 13' 5" 30.3 14.4 2.1 12.4 29.4 38 10.4 14.5 7.7 2 14.2 4.5 Wahash Consolidated 13.2 Wabash International 4.1 BONDS American Fletcher 3Hs, to American Security 5s, '71 Batesville Tela 5Vi, '91 Hertf Jones 5iS, '78 WW Indiana Limestone 4s, '75 Indiana Tall Road t4 .104 93 73.1 ..120 79 73.4 75.4 Public Tel Sttt, '91 71.1 MUTUAL FUNDS Unlflsd Mutual 'hares $11.58 $13.84 Ex-dlvldend. tEx-stock dividend. POULTRY AND feGGS Egg prices yesterday In central Indiana picked up at the farm with cases refunded on consumer grades Included A Largt 444c; A Medium 41'; A Small 20c Indiana roasters 23c. CHICAGO POTATOES CHICAGO (API (USDA) Potatoes r.

rivals 27; on track 128; total U.S. ship ments 129; supplies light; demand and iraaing restricted on account or low temperatures; market firm; Idaho russet Burbanks 5.40; Minnesota North Dakota Red River valley round redo 2.40. BUTTER AND EGGS CHICAGO (AP) (USDA) Butter. wholesale selling prices on til grades unquoted. togs: prices delivered to Chlcag ower tn 1 hloher; 80 ner rent nr heitar grade A whites 49-51; medium whltt ex- iras 47-40; siarraaros l-4ivs.

BEEF FUTURES Chicago (AP) Live beef futures trading on tht Chicago Mercantile Exchange yesterday: LIVE BEEF CATTLE High low Clots February 17.95 27.85 27.17 April 27.30 27.20 27.lt June 24.87 26.82 26.85 August 24.97 26.98 24.9 October 24.t2 Offered. Sales: February 200; April 255; Junt 115; August 30; October 0, SCRAP STEEL New York (AP) Pittsburgh Scrap Steel No. I heavy was quoted yesterday by Iron Aoe at $2427. New York Spot nonferrous metal prices yesterday: Copper 42942'c pound. November Fires $134,208,000 i New York (AP) FiresJ; caused losses estimated -pfl $134,208,000 in November, ac cording to the National Insur-' Ia ance Actuarial and Statistical Association.

The association said the fig-ure was 16.5 per cent over November, 1967's losses. Estimated fire losses for the tj first 11 months this year were- $1,673,845,001, compared with i New York (AP) The stock market yesterday bowed out for 1968, squeezing out a small gain toward the end of a dull and mixed session: Caution appeared to be the watchword as Wall Street avoided the frantic hurly-burly that usually prevails on the last trading day of the year. VOLUME was 13.13 million shares compared with 12.08 million Monday and was only slightly above average for the year. In contrast, the 1967 session piled up volume of 14.95 million shares which at that time was the second biggest in history. Since then, of course, the market has topped the old record of 16.41 million shares of 1929 several times, the new peak being 21.35 million shares June 13.

Prices were mixed until early in the afternoon when enough yearend reinvestment made itself felt to rescue the advance-decline ratio from the minus side and put it into plus territory, but not by much. Of 1,612 issues traded on the New York Stock Exchange, 738 rose and 627 fell. THE Dow' Jones industrial average, lagged behind other indicators as it sagged 1.36 to 943.75. Weakness in some of the 30 blue chips that make up the Dow accounted for its decline. The most prominent of these was Woolworth, down 1 i2at3278.

Woolworth was the most active stock on turnover of 247,500 shares, of which 204,500 shares came in a single block. Northwest Industries, which has acquired more than 80 per cent of the stock of, the Milwaukee Road, advanced 4 points to 12814- Merger and acquisition hopes apparently helped other rail stocks. Great Northern gained l'i. Illinois Central Industrial V4, Kansas City Southern Industries 1, Norfolk Western 1 and Seaboard Coast Line 1. THE New York Stock Exchange index rose 5 cents to $58.90.

Standard Poor's 500 stock index gained .06 at 103.86. AMERICAN Stock Exchange prices also ended irregularly higher. Of 1,038 issues traded, 475 rose and 402 fell. U.S. Treasury bonds were slightly higher.

Corporate bonds were mixed. NEW YORK STOCK SALES Apryoi final total 13,130,000 frevjoos da 12,097,00 Week age 11442,720 Month ago 15,462,030 Year goo ...11,01.240 Tog years mo 6,104490 Jan 1 to oat 2,931444424 197 to date 2429,705434 1944 to date 1., 900.21 5474 STANDARD AND POOR'S AVERAGES Net High Low ClostChaiwe 425 Industrial 113 85 112.05 113.02 .04 20 Railroad 54.37 S3M 54.15 J5 70.24 49.21 69.69 .05 55 Utilities 500 Stocks 104.41 10190 103 04 .06 DOW JONES AVERAOES rtnan 'Utah I Ml TIam Slat 30 Ind 942.94 t50.44 9J6 6 943.75 1.36 20 RR 269.01 272.44 268.05 271.409 29 15 Utl 137.01 IM.55 134.31 137.17 8.29 65 Slk 340J2 343.12 330.22 341.04 0.40 Transactions in stocks used In averages: mous 1,178,500 Rails 171.900 Utils 117Mn OIK 1.407,400 UPI MARKET INDICATOR' Clotlnt Mt price change of ell NYSE Quotron Service, wet up 0.20 (WlOOOths) per tent from Monday close. guarantee' the integrity of games, just as our companies co-operated fully with the commission during its study." Most of the points made in the report, they said, were based on research conducted in 1966 and 1967 and are "not characteristic of the way in which games produced by our companies are conducted today." The firms were Dansico Associates Inc. of Birmingham, Glendinning Companies Inc. and Herron-Kienzle both of Westport, Walter Schimmer Inc.

of Chicago; Volume Builders Inc. Spot O'Gold Corporation of Philadelphia; and The Plaza Group and Strategic Merchandisine Corporation, both of New York City. Grain Market CHICAGO (AP) -r- Wheat futures advanced 1 cent bushel under late buying on the Chicago Board of Trade Tuesday, but other grains were generally weak while soybeans closed on a firm tone. Trade was dull and, for the most part, typical ot a mia-notioav session. Prices In the malor grains opened on an Irregular tone and held to this pattern for about 2 hours.

Then In the wheat pit. some buying deveoped and prices turned strong. The rally came In tht closing minutes when prices surged to highs for the day There was no nartimlar harkarnimfl fnr the buying except as prices moved ahead some snorts turnea to covering. Early hedging in the corn Pit was easily absorbed by perfesslonal end commission house buying. However, late liquidation turned prices about cent lower.

Soybean oil showed some strength throuh most of the session and this reflected on higher soybean prices. Soybean meal also tended to sirengtnen under active Duying. Oats and rye trade was light and prices generally moved with corn and wneat. moice steers and tcea oroiiers were virtual. ly unchanged In very dull dealings.

At the rinse of the abbreviated session which ended at noon, wheat was to 1 cent a bushel higher, March 1 corn was to lower, Marcn l.iu; oats were to i aner. March 72 "4 cents; rve was Vi lower to higner, March 1.20 ana soybeans were 'A lower to Vi hlqher. rrev. Open High Low Close close VMM EAT War 1.34'i 1 1.35V4 1.34'!i 1.35 1.34 May Jul 1 3714 1.37' 1.34'a 1.37l 1.36'. 1 l44 1 3414 1 34 1 345.

1.34 Sep 1.36'4 1.36W 1. 36 'A 1.36H 1.34'A CORN War 1.18H 1.18J l.ira 1.18 l.lit 1.21 'A 1.21 1.20-4 1.20 1.21' 1.23 1.23 1.23Vi 1.73V4 1.23 May Jul Sep l.Z2', 1.224 1,22 1.22 hli'M OATS Mar 755 71'a Wt 7J May iWlti (WVj 69i'i 6Wt Jul 44 45W 44 45V. Sep 44Vi 44V4 4414 64'a DVB Mar I.MViK Vt.VtWt I.MVa 1.201, 1.20 May I.2IV4 1 .21 1.21' 1.21' 1.21V Jul 1.21?a 1.7l'a l.ZI's 1.72 SOP M.22VH 1ZZV4 SOYBEANS Sun 2 40 2.40 2.60Vb 2.40 Mar 2.44 2.64". 2.43's 2.44 2.63 Mav 2.46M, 2.667ti 2.64V 7 tih 2.64 Jul 2.64'a 2.67 2.66V. 2 664 2.67 Aim 7 67 9 )', 7 ft? 2 2.62 Si 2.48' 2.49 2.46W 2.49 2.4814 Nov 2.42'i 2.43V4 2.42ft 2.43 2.42'e SOYBEAN OIL Jan 8.42 0 44 0 38 8.25 8.19 817 8.09 8.44 8.29 8.23 0.21 (8.09 8.43 8.28 8.25 8.22 8.08 Mar 8 30 8.30 May 8 27 8.27 Jul 8 25 8 25 Auq 8.09 8.09 Sen 778 7.80 7.78 7.79 e7.77 7.52 7.55 7.53 7.47 07.52 87.46 Oct 7.52 7.55 DOC 7.47 7.50 SOYBEAN MEAL Jn Mar May Jul Aug 71.00 7.15 70.75 70.85 70.85 72.45 72.60 7Z.IS 72.43 77.JU 73.45 73.65 73.40 73.40 73.40 74.60 74.70 74.50 74.70 74.40 74.50 74.55 74.50 74.55 74.45 72.40 72.40 72.25 a72.55 72.30 70.70 70.75 70.40 470.80 870.40 see Oct Dec 70.00 70.DJ 6V.W au.

iu au.u bid; 0 asked; nominal. CASH GRAIN Chicago (API Wheat was nominally hloher, basis unchanged, receipts 4 cars) corn lower, basis unchanged, receipts 12 cars Including no cars for Commodity Credit Corporation; oats nominally hloher, basis unchanged, receipts 2 cars; soybean receipts were 1 car Including no cars i. rrr No. 2 hard vollow, 51.44Vj nominal, u. 0 rari si nominal.

Corn, 1, 2 yellow, 531.19 nominal; No. 4 vel pw UW Oats, hip, 2 extra heavy white, '475V4 nominal. Soybeans No. 1 yellow si Soybean oil 88.58 nominal. LOCAL GRAIN PRICES Approximate prices quoted to producers yesterday bv elevators In Marlon and counties.

OATS-No. 3 white 45cC64c. SOYBEAI WHEAT- SOYBEANS No. 1 yellow J2.40S2.41. -No.

2 sort rea ei.o. PORK FUTURES Chicago (API-Pork futures trading on the Chicago Mercentllg Exchange yester- oav; Low 11.40 Close 18.70 16.60 Sft fti. ahmanf April 18.40 IT 20.40 46.40 ii'M February April Jung R0IEN PORK BELLIES Rebruery 32.40 32.20 uh 32. SI 32.17 32.37 32.17 u. in SIM 33.10 July 33.00 32.45 ,32.70 August 32.0S 31.45 31.45 Sales; February 1.494; March 4921 May 173: July 229; August 115.

Open Interest: February March May 2.9801 July 2,378 1 August 404, iBld; Ottered; Nominal. SUGAR FUTURES Nr-w York (API Domestic sugar futures No. 10 closed gulat, no sales. D.u, 7 kl World sugar No. I closed unchanged to 1 higher.

Sales 2.895 contracts High Li nw 1.07 1.12 1.15 Close 3.08 j.ll 1.17 3.20 t.21 3 34 3.39 3.33 March 3.10 May 314 July 3.11 September 3.31 October i.33 November 1.25 March 3 30 May 3.33 Nominal; Bid. J.17 74 334 192 1.33 WOOL FUTURES Npw York futures wars hlntw on commlsson houst buying yesterday. erOav wool tons futures wra quiet. Wool futures closed .6 of ot a rent niohf Lew Cloia warcn, 119.0 11.J Certificated wool spot tl14.0, Woo tons futures closed qulot, no tales, Certificated spot wool tops 1 1 60.0. -Bldi.

Nominal. 4 $1,578,902,000 for the like period last year. Just a short walk around Monument Circle in Indianapolis can illustrate the new efforts to spruce up the front room of brokerage house branch offices around the country, in many cases to bring them down to sidewalk level where small Investors can feel at home. Ironically that campaign to interest more people in the market one firm here opened an airport branch, the first of its kind, with some of that in mind may have succeded only too well in 1968. PART OF last year's problems stemmed from inability to handle small transactions in the high-volume market It was the avalance of paper work which has forced the four-day week for the market with closing on Wednesday a standard procedure since June 12.

Now the traders say they are ready to begin next week on a normal five-day schedule, although the hours will be cut by 90 minutes. Those hours, 10 a.m. to 2 p.m. (EST) go into effect, tomorrow. The over-the-counter market is expected to follow that time schedule set by the New York and American exchanges.

DESPITE some misgivings voiced by officials of the Security and Exchange Com-. mission, a panel of securities industry representatives have recommended the return to the five-day week. They say a number of improvements are in place or in the plans to allow the resumption. TTie commission may be worried that, In view of brokers' dependency on each other, those who cant keep up will go under or have to be merged with larger cor porations. jAs one broker commented recently: back office may be inj great shape; but, if the gijy across the streets falls to deliver, we are in trouble, tcja" INDIVIDUAL houses and the exchanges have been hustling in recent months on programs to modernize an industry which for all practical- purposes has been amazingly slow to modernize in prior years.

The handling of paper work and the stock certificate itself had not changed in decades. Now the use of computers now is expanding steadily. The New York Stock Exchange is planning a new building to triple its floor space. It has enlarged its trading floor and finally has broken out of the space It has occupied since 1003 by leasing a portion of a building next door. A COMPUTERIZED message-switching system to speed transactions of fewer than 10 Oshares known as "odd-lot" trades Is expected to be announced formally Friday by the American.

That program Is one of the first, steps in what Is promised as a major shift to automation within the next three to five years on that exchange. The NYSE plans extensive use of automation for lot trades, which account for only 10 per cent of the total dollar volume but as much as a third or more of the total number of transactions. THERE ARE also various changes proposed In handling certificates and several ideas to redesign or do away with the certificate altogether. Unlike banks, which trade In dollar bills and keep records, for example, in a simple passbook, securities houses are committed to an actual delivery of the certiifcates they trade, although under the present set-up it may be weeks or even months before you get delivery. The comparison to banks may be an oversimplification, but many brokers privately feel that the whole Idea of having to physically deliver securities is archaic.

Some also think that the small Investor, so heartily courted In recent years, also is becoming archaic and Instead of encouraging him many would like to dissuade him from getting Into the market or guide him into mutual funds. Structure Changed Formation of American Fletcher Corporation, a holding company which will own American Fletcher National Bank and Trust Company, was completed yesterday. AFNB Chairman of the Board S. Edgar Lauther, president of the holding company, said shares of the bank have been converted to shares in the holding company according to a plan previously approved by shareholders and regulating authorities. Frank E.

McKinney is chairman of the board of the new holding company. Overman Lesch PERSONAL PRONOUNS: William R. Lesch has been elected vice-president in charge of personnel for the American Fletcher National Bank and Trust Company Douglas E. Lyell has been named sales manager for the Studio Press Inc. John W.

Barrlger, former president of the Pittsburgh and Lake Erie Railroad, has been named Railroad Man of the Year for 1968. He was honored in Indianapolis in 1962 by Hoosier railroad, banking, business and industry officials and was a former president of the Monon Railroad. He began his career in 1921 with the Pennsylvania Railroad J. V. Overman, employment manager for Indiana Bell Telephone Company, has been appointed general personnel supervisor for the system.

He joined Bell in 1944 Thomas Gorman has been named divisional group manager in the Indiana Division of the Equitable Life Assurance Society of the United States. He succeeds John V. Hogan, promoted to a Chicago position by the firm. MEMOS RANDOM: The Indiana Home Underwriters Association will hear lan Rolland of Lincoln National Life Insurance Company at its Wednesday meeting Geoffrey P. Sanders of Radio Corporation of America will guest speak the same day at the session of the Indianapolis chapter of the Administrative Management Society The Robert Hall store located at 101 South Senate has been closed to make way for the new Civic Center project.

The firm's other locations arc at 2604 Lafayette Road and 5001 East 38th Street. Stockholders Vote To Merge Oil Firms New York (AP) A merger that would create one of the nation's biggest oil companies with combined assets of about $3.6 billion was approved yesterday by shareholders of Sinclair Oil Corporation and Atlantic Richfield Company. The merger of Sinclair Into Atlantic expected to be completed by Feb. 1 was approved at separate meetings of Atlantic and Sinclair The merger, originally announced Oct. 31, previously was approved by directors of both companies.

EGG FUTURES Chtcaoo (API futures trading on the Chicago Mercantile Exchange yesterday: SHELL EOOS Hlah Low Close January 46 So 41.10 45.30 Aerll 30.40 I0. 5tembar 37.00 35.90 33 7J October OO Salesi January 15241 Aprfl 601 Septim-bar 71. FROZEN WHOLR IOGS January 17.00 J4.I3 17.00 Sales: (Jen.) 42. Offend. NEW YORK PRODUCE New York API (U5DAI Whnlete eog offerings light to adequate.

Demam gooo vesteraay. New York spot Quotations follow: Standards 44M7Vic. Whiles: Fancy large (47 lbs. mln.) M51c; fancy medium (41 Ihs. average) fancy small! (34 lbs.

average) 3523c. Browns: Nono. Butter offerings moderate. Dimand light. Wholesale ericas on bulk cartons fresh.

Creamery, 3 score AA iSViHtmci 92 Score a ao4aV4c, BANK CLEARINGS Indlananolls bank clearings vesterdav a "Dear Sin In reference to your letter of the 29th in reference to my letter of the 18th in your reference to your letter of the 6th Livestock INDIANAPOLIS Yttfertar Week An Vow Age 700 ilf 2,477 2J 11 35 1,225 JJJ91 IJA Cattta Calves Hogg HOGS Recajnt. IMMta, im mull. mixed 190-240 R. barrows end gilts end 10 per cent sows. Barrows and gilts fairly active, open'ng steady to 25c higher but dosed steady.

Sows war steady to 25c higher. A good clearance was BARROWS AND GILTS Mixed 1-3 190-230 lbs. 020.25920.75; 125 head at S20.8i(21j 2-3 200-250 lbs. tl9.7520.50i 2-4 2O-270 lbs. S19319.75; 3-4 330-340 lbs.

SIS. SOWS Mixed 1-3 300-350 lbs. $149 17; 350-500 lbs. tl5.5014.25- 2-3 45M00 lbs. BOARS tii.5oeix Steady to 50c.

higher INDIANA HOGS Demand was fair to poor with barrows and tilts uneven but averaging sbdut steady; sows generally steady. Barrows and gilts 1-3, largely 2-3, 190-225 lbs. 2-4 220-250 lbs. 250-270 lbs. $1819; sows 1-3 275-350 lbs.

$1516; 350-450 lbs. S14.5015.75; 2-3 450-400 lbs. $13.25 14.75. Estimated receipts yesterday I'. 45 yards and packing plants outside of Indianapolis actual last Tuesday year ago 18.500; estimated so far this week actual same period last week year ago 21,600 heed.

CATTLE Supply made in of mixed good and choice h. steers; 23 per cent heifers, and 18 per cent cows. Trade was slow with steers and heifers steady to weak; cows and bulls fully steady; vealers steady. SLAUGHTER STEERS High choice Prime lbs. S28.5029; choice lbs.

mixed good and choice good standard and low good SLAUGHTER HEIFERS Choice 850-950 lbs. mixed good and choice $2524; good $2325; standard and row gooo yn.viwu. COWS Utility end comrnerlcal $17(3 19; high dressing utility $19 20- cutter earner and S1416.50. BULLS utility and commercial t21.5023.50; high dressing utility $23.5024.50. VEALERS Individual prime $42; choice $34(40; good and choice $3035; standard and low good $25.30.

SHEEP All classes were steady. Wooled lambs choice and prime 70-100 lbs. choice 75-105 lbs. few utility wooled ewes DETAILED QUOTATIONS (USDA) STEERS Prime, 900 to 1,100 lbs $28.50929.50 Prime, l.ioo to 1,300 lbs 2a.soiS29.oo Choico. 900 fa 1.100 lbs 57.53 50 inoice, 1,100 TO 1,300 IDS.

27.50928.50 GOOO, 900 to 1,100 IbS 25.0027.50 vvvo, mini iu ijvu iu. 25.0027.50 aiannaro, en wnignis HEIFERS Prime, 900 to 1,100 lbs. Choice, 700 to 900 lbs. Choice, 700 to 1,100 lbs. Good, 400 to 800 IbS Good, 800 to 1,000 IbS.

Standard, all weights COWS- 22.50(825.00 2J.J027.S0 24.0O27.5O 23.0024.00 i. 23.0024.00 21.5023.00 Commerdal, all weights utility, an weignts i7.so20.oo Cutler, all weights 14.0010.50 banner, an weignts 14.00914.50 BULLS (yearlings excluded! Commercial, all weights 22.00 Utility, el. weights 22.O024.O0 Cutter, all weights 19.5022.00 prime, an weights VfcALEKS (150-250 lbs.) Prime, all weights S4O.O042.O0 Choice, all weights 34.oo40.00 Good, all weights 30.00(S35.00 Standards, all weights 24.0029.00 LAMBS (wooled 10-110 lbs.) Pfime t24.S027.O0 Choice 25.0024.5O Good 23.0025.O0 EWES (wooled 90-130 lbs.) Good $4.507.50 Utility 6.00(58.00 Cull 5.004.00 LIVESTOCK BY WIRE CHICAGO (AP) (USDA) Hogs butchers opened steady to 25 lower. closed fully 50 lower; slow; shippers took 2 000; 1-2 200-220 lb butchers 21.00-21.50; 150 head sorted at 21.50; 1-3 200-240 lbs 19.75-20.50 2-3 240-260 lbs 19.00-19.75, most ly 19.00- 9.25? 2-4 250-280 IbS 18.00-19.00; sows strong to 25 higher; fairly active 1-3 300-4U0 IDS 16.00-17.00; 1-3 400-JOO lb 15.00-16.00; 2-3 500-600 IbS 13.75-15.250 boars 12.00-13.00. Cattle 1.200; ca ves nonet steers only moderately active at best, weak to 50 lower; decline mainly on high choice and prime; slaughter heifers fairly active, steady to weak; cows scarce, steady; prime lb daughter steers yield grade 3 and 4 30.75-31.50; mixed high choice and prime lbs 29.50-30.75; choice Ibs yield grade 2 to 28.50-29.50: mixed good and choice 27.50-28.50; good 26.00-27.50; few standard and low good 24.uu-24.oo; enojee 850-975 lb slaughter hwldwea yiwls fe sw 1 ro 3 27.25-28.00; mixed good and choice 26.25- 27.25; few good 24.50-24.25; commercial COWS 15.50-17,50; utility 17.5U-19.OU; tew high dressing 19.25-19.50; canners and cutters 14.00-18.50.

Speep 100; supply insufficient to quote. Cincinnati (AP) (USDA) Cattle 500; calves 50; steers and heifers moderately active, generally 50c lower; few scattered sales cows slow, steady to 50 lower; not enough bulls for test. Steers choice Ibs. yield orade 2-3 good 400-900 IbS. $22 25.25; utility and commercial cows $189 18.50; cutters canners 14.50; veelers steady; occasional choice $4243; good $3442.

Hogs barrows and gilts 25c higher, moderately active; 2-3 200-230 Ibs. 2-4 230-250 Ibs, 250-260 Ibs. sows steady to 25c higher; 1-3 300-400 IbS. $1509161 2-3 400-400 Ibs. boars steady to 25c higher at $1112.

Sheep 50; slaughter lambs steady; owes Untested; choice and prime 85-105 lb. wooled lambs $25.5027. Louisville (API Federal State Market News Service Cattle 1,500, calves 100; steers and heifers weak to 25c lower; limited offerings other classes steady; few part loads choice 975-1050 lb. Steers good and choice S24.50 27.50; choice 780-900 lb. heifers good and choice utility cows 19.00; utility to good bulls over 1,000 Ibs.

choice 180-240 lb. vealers $37( 43; high choice 315 235 Ibs. t43946; good $31 (37; standard $25932. Hogs 1,000, barrows and gills steady to weak after opening steady; 300-235 Ibs, $20; 2-3 200250 Ibs. 3-4 240-380 Ibs.

S18.5019.50; 4 280-325 Ibs. sows steady, 1- 400-550 Ibs. 3 500-400 Ibs. boars $11. Sheep 25, not enough on offer for price test, CARLOT DRESSED MEAT Chicago (USDA) Dressed carlot meal trade as of 2 p.m.

(EST) yesterday was slow with steer and heifer beef steady to 50c lower i cow beef steady; pork loins 8-17 ibs. weak to $1 lower, and Boston butts steady. Choice steer beef 500-800 Ibs. choice 800-900 Ibs. 845.509 44; good 500-800 Ibs.

standard 500-700 Ihs. good 500-700 Ibs. $41. Commercial cow beef $36; utility breaking $34; utility boning canner and cutter northern bull beef $42. Fresh pork loins 14 Ibs.

down 14-17 Ihs. $44945; Boston butts 4-8 Ibs, $36) sparerlbs 3 Ibs. down $44 945; fresh hams 13-14 Ihs. $44; 14-14 Ibs. 14-11 Ibs.

$39. Steel Prices Raised Pittsburgh (AP) United States Steel Corporation yesterday announced a price increase for hot-rolled strip of about $17 a ton. U.S. Steel said cut edge strip up to 12 inches wide and mill edge strip eight Iqches wide and up would be increased from $4.23 a hundredweight to $5.25 a hundredweight. The company said the Increase is effective were S44 million.

Debits were 8135 million. Washington (AP) Inves ligation of prize-offering games to promote sales at groceries and gasoline sta tions has disclosed "numerous situations that involved deception or that had the capacity to deceive," the staff of the Federal Trade Commission reports. Moreover, the report, based on research conducted In 1966 and 1967, to the commission says, even assuming the games always are conducted fairly, the chances of winning a prize are minute. Lumping the various grocery store games together, the investiga tors calculated. "The CHANCES of receiv-ing a control piece for a cash prize in a particular store visit were 3.4 per 1,000 and the chances of receiving a control piece for merchandise or stamp prize were 12.4 per 1,000." 1 the control piece in each set of contest paraphernalia decides who is going to get a prize.

The report added the aver age value of merchandise or stamp prizes was 14.9 cents and the average cash prize was $3.87. THE promoter of a major oil company's games was quoted in the report as saying the chance of winning the major prize in its games was one in a million. Odds on winning a small prize were given as one In 10-but the average small prize was only 10.9 cents. Discussing what it termed deceptive aspects of- the the FTC staff cited advertising that gave the impression chances of winning a prize were good. In certain cases, the report said, winning pieces were al located to particular stores a chain wanted to promote, or were spotted early In the period during which a game was running.

In some cases gasoline sta tion operators were advised where winning tickets had been spotted in boxes of supplies, the report continued, and were advised to give good customers a break in receiving them. Seven of the companies active In marketing promo tional games said they will "co-operate fully with the commission in the development of reasonable rules to U.S Securities NEW YORK (AP) Clnilns nwr the counter U.S. Government Treasury bonds mo, asuoa, net change and yield for Tuesday. 4S 49 Feb 99.21 99.53 4 33 2VbS 49-44 Jutl ,..98.10 98.14 4.04 49 Oct 90.10 98.14 4.17 2ViS 49-44 Dec 96.30 97.2 5.72 to Feo Vil 70-45 70 Feb 97.19 97.23 .1 4.14 94 4 94.14 .7 5.40 4c 70 Aug 2Vt 71-44 4S 71 94.20 93.18 94.20 94.4 94 6 90 20 93 .14 94.24 .2 4.13 93.24 5.52 95.4 .0 4.04 71 94.14 .2 4 i 01 4s 72 Feb 2VK 72-47 Jun 4s 71 Aug 94.14 .98 90.20 0 5.14 93.24 .0 594 mt 72-67 Sep 89.24 90 .4 5.5? 4- 4 5 49 2's 72-47 Dec 89.14 92 2 97? 91 2 2 90 .0 83.1 79.12 81.24 7710 77 70 75 75 71 77 4 73 73 92.10 .4 5 93 92.10 6 5 97 92.2 .6 195 92.10 .4 5 95 411 74 4Va 74 3'S 74 90, .16 .8 5.81 00 83.74 79.20 14 6.01 3Wl 00 VAt 83-78 3S 5 4'4S 05-75 Vit 90 4V.S 97-17 14 5.87 75.16 .14 5.77 73.16 .12 5.77 2. .14 5.95 73 11 5.72 78.12 .12 6.05 76 .0 5.04 934M 4M.J 94-89 'is 95 76.14 5 92 72 70 .12 4 85 72 28 .12 5.32 1VM 72.11 Price quoted In dollars and thirty.

econdq. NEW YOPK (API Clnslne 11 Tr.v ury Notes bid and asked prices Im dollars nd tnirtv sfcono and acprosimat yield to maturity for I uesaav. Feb Mi 1969 Anr 1969 99.27 99.29 433 4.30 4 59 98 16 98.24 99.18 992.2 May it 1969 Ot? ltv 1969 Apr lVs 1970 May 1970 Oct iW 1970 99.19 99.23 96,70 97 i 94.24 95 99.0 99.12 3.0 T3.24 97.14 97.22 97.78 98.4 91.20 92.12 97.14 97.22 NOV 1970 Feb Sli 1971 Apr IVd 1971 way sm i7l 504 5.07 Oct 1V 1971 90 TO. 16 97.22 95.24 89.14 95.14 88 86.14 88 84.14 NOV 3 1971 97.14 95.14 95.1 07 JJ3.14 85.14 Feb 4'4 1972 Apr Vt May 1972 net l'. 192 Apr 1973 1972 1973 NEW YORK POTATOES Npw York tAPl Pntln fiiln Maine closel 5c higher to 3c lower, Sales 1,283 contracts.

Hah law rata Marcl) 2 45 3 60 April 12 2 74 November 1.19 lit A I'H i is i ta t-re? Srs 1 1 rrf IntS 'A It'Jt pi 3 )(IS w-ltl 5. a 'in TOff mi r. if if M.7 t'lP rr I'i -jfl 'wf-' -5 i office space Small (ISO $,. ff tr larger tulles Several fine business ot rofttllontl buildings to chooss from. $3 to $6 per sq.

Some sptct can bt tisd on'i ttontk tt month basis, preferred. Asi for Jack Deutlet tf Pttl Gutiwlller 101 Union Federal Blldlnt-4J Ntftl Ptnnsylvtnlt Street, Indlawapelll Indiana 4t204-(317) 815-2115 With Oar $100 Collattrri NttM funds left 5 years Increase 41. Yew Attornay'i Inquiry invlhai, Sslltlfatlm tlws stela praapewlsis enly. For Details Contacts afonial Jlisacount COIPOIATION lit N. Delaware: Indianapolis, Indiana 48304 limited fa residents af Indiana STARTS Ftb.

Jen. Feb. 17 Jen. 11 Pet. Peb.

It Pet. 11 Peb. it COST 45 818 IS 8 7S 11 tilt Tots. 15 Tees, and (at. 8 45 Sat.

15 8 58 8 45 8 88 8 tt 8 15 s. tn 8 88. Peb. It Pet. 1 Jan.lt Pet.

II Mar. 1 tr Mar. 4 Pet. 4 iu st WIDJI lit. Ml PRIME OFFICE SPACE HUME MANSUR BUILDING CUSTOM OFFICE A I MODERATE RATES Mi R.

HOKANSON COMPANY 637-5819 PURDUE UNIVERSITY INDIANAPOLIS CAMPUS CONTINUING EDUCATION COURSE FOR WHICH REGISTRATION IS REQUIRED SOON SESSIONS li Wed. 11 Men. I Men. Men. 11 Wet.

It Wed. 4 Tttrt. Tttt. ml I Sit. TIME P.m.

I p.m. 7- p.m. 7-tiM p.m. -Mt p.m. All Day p.m.

All Dsy Sat. TITLt Amateur Rati Concrete Construction Isocutlve Pltness Income Tas Preparation Industrial Ptckatlnt Instrument Ground School Manatement Topics to EltCtlMle Data Prscesslnt Numerical Control Stryey Plastics Course Private Pile! Ground tcheel Professional Eminem' Review Course Profit Principles for Subcontractors Securities and Innestlnt Sternopbenlt and Hltb-Pldellty Systems me supervisor ant Later Relations Registration If class Hit 1201 Eait Mtt) Is it. 7-lt p.m. 'J 7-10 p.m. 710 p.m.

10 Men. tr 7 ttTues. JJ It Men. mm now being accepted at tht Purdue Inoianapolis Campus. permits, registration will bt accepted first night of class.

WRITi OR CALL THE CONTINUING EDUCATION OFFICE FOR REGISTRATION FORM OR DETAILS ON THESE OR OTHER COURSES. today..