Democrat and Chronicle from Rochester, New York • Page 36

8D ROCHESTER, N. TUESDAY, JULY 17, 1973 Busingpeople Industrial Production GrowthSlowed in June pushed prices steeply upward in recent months. The Federal Reserve Board said the industrial production index in June was 123.9 per cent of the 1967 average. Although industrial production increased only slightly in June, it still was 9.3 per cent above the same month in 1972. WASHINGTON (AP) The rate of industrial production growth slowed considerably in June, increasing only three- tenths of 1 per cent, compared to a seven-tenths of 1 per cent increase in May, the Federal Reserve Board reported yesterday.

Production of consumer goods declined during June by substantial, with particularly large increases in business equipment and materials. "The annual rate of increase, however, has been diminishing over the past three quarters from a rise of 11.8 per cent in the fourth quarter of 1972 to 7.9 per cent in the second quarter of 1973," the board said, seven-tenths of 1 per cent, the board said. The figures appeared to be additional confirmation that the country's economy has been slowing down from its near-record rate of growth in the first quarter of the year. Such a slowdown could mean an easing of the inflationary pressures that have Auto assemblies in June were at an annual rate of 10.2 million compared to a 10-mil-lion rate in May, indicating a continued high rate of for the country's auto manufacturers. Among industrial sectors advancing during June were business equipment, industrial materials, construction prod- ucts, steel production, textiles, paper and chemical industrial materials.

However, output of some appliances, most household durable goods and consumer non-durable goods declined. The Federal Reserve Board noted that for the second quarter as a whole the rise in the total production index was rmmmmmmmmmmmmmmmmmmmmmmismm DEMMEL W.F. SMITH UAW GM Models Recalled By GM Sibley's Promotes Demmel Talking onfracf DETROIT (AP) United Auto Workers leaders outlined their bargaining goals for General Motors Corp. officials' as the two sides opened 1973 contract talks yesterday. UAW president Leonard Woodcock said that the initial bargaining session, which lasted more than an hour, merely dealt with some unspecified procedural matters and provided a summary of the 43-page bargaining program adopted during the union's convention in March.

DETROIT (AP) Nearly 9,000 General Motors 1973 model cars and trucks are being recalled because brake parts were possibly left out or improperly inserted, the company said yesterday. Approximately 3,100 Chevrolet Chevelles, Malibus, El Caminos, Pontiac LejMans, Buick, Centuries and GMC Sprint models built at the Fremont, assembly plant may not have a gasket and protective boot on the brake master cylinder push rod, GM said. That could allow dirt and water to get into the braking system and cause the failure of the front wheel brakes, the company added. The trucks being recalled are all equipped with 366 or 427-cubic-inch engines. GM said some of the vehicles could have improperly positioned hydraulic brake lines that could cause a loss of brake fluid.

Owners should begin receiving certified letters in the next few weeks advising them to take the vehicles to dealers, where they will be inspected and fixed. George Morris GM's vice president for industrial relations, conceded the outline contained no surprises but added, "We were told these are not all the demands that will be made." He said there are some sion, health and safety improvements, a wage increase and changes in the formula providing protection against jumps in the cost of living. Woodcock agreed months ago that with the union's nearly 800,000 members at -Ford, Chrysler and GM averaging $5.12 an hour on straight time, the bargaining stress this year is on fringe benefits. George L. Demmel has been promoted to production manager of the Sibley, Lindsay Curr bakery, Sibley's President William E.

Lee, announced yesterday. Demmel, of 471 Covewood Webster, succeeds Norman Weichbrodt, who recently retired. A native of Munich, Germany, Demmel spent five years in the Baking Schools of Ingolstadt, Munich and Heilbronn, before moving to the United States. He has been with Sibley's since 1968, most recently as assistant production manager. The Sibley's bakery has a staff of 50 bakers in the facility on the fifth floor of Sibley's downtown store.

It makes 298 different items. Security Trust Co. has elected William F. Smith, manager of its Dansville office, an assistant vice president of the bank. Smith, a Dansville resident, joined Security in 1967 in the commercial credit department.

He is the current president of the Dansville Chamber of Commerce. William M. Czamanske has been appointed manager of special projects in the business sys-terns markets division of the Eastman Kodak' U.S. and Canadian Photographic Division. Czamanske, of 44 Lincoln Pittsford, has been with Kodak since 1958.

He started as a regional credit assistant. Most recently he was director of customer relations in the business systems markets division. Richard F. Whitney, of 2 Shagbark Circle, has been appointed personnel development director in the distribution division of the U.S. and Canadian division.

He has been with Kodak since 1964. Caldwell Manufacturing Co. has assigned William B. Cochran of 330 Maplewood Ave. to outside sales for Western New York and Pennsylvania.

George L. Freelonve of Woodridge, 111. has been named Caldwell's district representative for the Chicago area. Caldwell makes window hardware and doors. George J.

Knapp has been elected an assistant vice president of the Columbia Banking, Saving and Loan Association. Knapp, of 47 Penbrook is manager of Columbia's branch office at 31 E. Main St. Ronald A. Nichols Associated 135 East UAW President Leonard Woodcock, right, arrives for talks in Detroit.

accompanied by Irving Bluestone head of union's GM division. (AP) Bank Lifts Prime Rate To 8V2 Pet. Need ham Testifies Relief for Securities Urged Owens said. The hearings will be held this week and next. Needham said the member firms of the NYSE have lost $152 million during the first five months of this year, compared to total profits of $580 million in the same period last year.

WASHINGTON (AP) -Unless the securities industry receives financial relief from its problems it will be forced to cut "both the quality and quantity of customer services," James J. Need-ham, chairman of the New seemingly complex issues among the union goals. "Maybe when they explain them to us there won't be any complex ones," he said. Morris said he spotted "an attitude of optimism on both sides" that an auto strike can be averted. Woodcock agreed there is nothing resembling the mood in both 1967 and 1970 when there was "an issue that the parties couldn't agree upon unless they're going to escalate voluntary overtime and health and safety into that kind of thing." The 1967 and 1970 issues were hard dollars-and-cents items, with the union winning nearly $1 an hour in wages and fringes in 1967 and taking the ceiling off the cost-of-living increases in 1970.

Negotiations viith GM, the largest of the automakers and target of the 1970 strike, were adjourned until this afternoon. Irving Bluestone, who heads the UAW's GM bargaining team, said details of the bargaining program will be revealed later. He would not say which demand would be presented first but estimated the details should be outlined fully by Thursday or Friday. Woodcock and most' other top union officials move to Ford Motor Co. today and Chrysler Corp.

tomorrow. The American Motors Corp. contract does not expire until 1974. Although no detailed proposals were revealed yesterday the union has been stressing a variety of issues in pre-bar-gaining meetings. Most of the proposals involved allowing each worker to decide for himself if he wants to work overtime, creating some form of dental insurance, allowing retirement on full pension after 30 years' work in the auto plants, pen Dow Index Advances 11 Points NEW YORK (AP) The First National City Bank of Chicago yesterday announced it is increasing its prime rate, the minimum lending fee it charges its largest customers, to Vk per cent from 8V4 per cent effective today.

If the increase in the prim lending rate becomes indus- trywide, and other banks were believed likely to follow suit within the next days, it would match the record prime rate high of June 1969. (No local banks reported prime rate hikes yesterday.) The move by the Chicago bank, the nation's 10th largest commercial bank, comes two weeks after a general increase of the prime rate by per cent to 8V4 per cent by most commercial banks. Excluding the Chicago bank's increase today, the prime rate has risen more than 2 percentage points since the beginning of the year. Two smaller banks made a gesture late last week at increasing their prime rates to 8V2 per cent before the Nixon administration's Committes on Interest and Dividends asked them to hold off. The commmittte had remained silent during the last move to 8V4 per cent.

York Stock Exchange, said yesterday. Needham testified at the outset of a hearing before the Securities and Exchange Commission on a request by the exchange to raise its commission rates on securities sales. Needham said the NYSE wants to increase commission rates by 15 percent on all orders of more than $5,000 and less than $300,000, and 10 per cent on all orders from $100 to $5,000. He said the proposed rate increase would offset the impact of inflation on the securities industry only since April 1970. Meanwhile, acting SEC chairman Hugh F.

Owens issued a statement saying the commission has not yet decided whether to grant the rate increase. "I wish to state unequivocally that the commission has made no such determination, nor will it make any such determination until all evidence has been developed in the course of the commission rate hearings now in progress," Dollinger Sales, Earnings Ahead Continued gains in sales and earnings for the second quarter vjsre reported yesterday by the Dollinger and the board of directors declared an 8-cent-per-share dividend on common stock. 1 1 The dividend, first since 1970, is payable Aug. 10 to share- holders of record as of the close of business July 13. Dollinger makes filters for industry.

Net income for the first six months ended June 30 was $122,400, against $45,200 in the same period last year. Income per share was 53 cents, up from 20 cents in the first half of 1972. Earnings in the second quarter were $109,200, compared to $43,800 a year ago. Sales for the first six months were $3,291,700, vs. $2,770,700 in 1972, while quarterly sales totaled $1,857,400, an increase over the $1,476,400 for the second quarter last year.

"Our improved ability to produce and ship goods" was offered by F. Leslie Dollinger, president, as reason for the gains. Shipments in June exceeded $750,000, a company record, he said, though the backlog at the end of the quarter was down somewhat from mid-1972. has received a contract to do the interior and environmental design, including model apartments and public rooms, for the Renaissance, an apartment complex being built at East Avenue and Penfield Road. The Itek whose Business Products Division is headqauartered here, yesterday announced an earnings increase from 47 a share to 52 cents a share for the quarter ended June 30.

Sales increased from $47.3 million a year ago to $51 million. First half earnings increased from $2.5 million, or 87 cents a share, last year to $2.7 million, or 93 cents a share. First half sales increased from $92 million to $100 million. Franklin A. Lindsay, president, said the sales increase resulted primarily from improvement in vision optics and graphic products sales.

i Dollar Off Abroad LONDON (AP) The U.S. dollar closed weaker In European exchanges yesterday after a day of listless trading. The price of gold closed higher at $120 an ounce in London and Zurich after opening at $119.75 in London and $119.25 in Zurich. In Paris, the dollar showed signs of firmness in the morning but Wosed at 4.06625 francs, down from .0875 francs at the opening and down from Friday's 4.10 francs. In Frankfurt, the dollar closed at 2.36 marks, down from 2.3750 marks at the opening and 2.38 marks at the close Friday.

In London, sterling strengthened against the dollar, closing at $2.54635, against $2.54525 at the opening and $2.5430 Friday. Disposable, $.65 Camera Introduced NEW YORK (AP) Tossing aside news that would have killed rallies on other days, the stock market bulled ahead yesterday in moderate trading. The Dow Jones average of 30 industrials closed ahead 11.59 at 897.58. In doing so, it nearly wiped out Friday's drop of 15.95 and more than equaled last Monday's jump of 7.15, which began the three-day rally. Advancing issues crushed declining stocks, 994 to 432, among 1,775 traded on the New York Stock Exchange.

Volume rested at 12.92 million shares, up fiwm Friday's 11.39 milolion. Stock prices on the American Stock Exchange and the over-the-counter market also were up. The Amex price-change index was down .13 at 22.77, while the NASDAQ composite index of over-the-counter stocks was up 0.94 at 103.97. Fannie Mae was the Big Board volume leader, up to 18. Other active issues included Standard Oil of California, up to 69; and Texaco ahead to 31V2.

Among the groups, glamors, oils, mobile homes, electronics, and chemicals were generally ahead at the close. Eastman Kodak finished up .5 at 140. Champion Home Builders was the Amex volume leader, up iy8 at 6, along with mobile home-related issues in general. Local Stocks At a Glance SolS 1973 If you have a little loose change like two quarters, a dime and a nickel, plus a few cents for state tax coffers you can buy a camera already loaded with film and it's disposable. The new camera is made 6y The Plastic Development Corp.

of Philadelphia and, accordingly, is called the "PDC," or Plastic Dis- posable Camera. The company, which calls the new product an industry breakthrough, claims it "produces photographs comparable to any $50 instant load type camera." No longer does one have to worry about losing a camera or having one stolen, says the firm. "Sixty-five cents isn't going to hurt anyone's wallet even if he buys several PDjC's." Any standard 126 cartridge film similar to that used in Kodak's Instamatics can be used in the throw-away camera. But you don't have to throw it away. After completing your picture-taking, explains PDC, you have three choices: Process the film independently and dispose of the Continue to use the camera over and over with standard size film.

Return both the camera and cartridge to PDC for processing and receive a new camera with film free, along with the prints from the old cartridge. The catch, of course, is that you pay for the processing. The camera is not available at local photo shops but may be obtained only via mail order from PDC. A spokesman for Eastman Kodak Co. here said the throw away camera concept was' not new and previously has been unsuccessfully marketed by other companies.

"We've been following the PDC camera development for some time but have no plans to introduce a throw away camera." But Kodak spokesman added that most disposable cameras to date have had problems with light leaks and were constructed on "not very sound principles." High Low in 100s High Low Closi Chg. 24'4 17 Bauseh A Lomb 324 U'h 22 WM Vt 8Vi 5'4 Brnromotle 19 5 5 5 A 151 125 Eastman Kodak 744 149 134 140 5' 45 29Vi Gannett 3 37 Wtt 37 114 19 17 GorlOCK 17 17 33 17 Gleason 21 21 20 21 7 Neisner VA Vt 24 20 15 20 2044 20 25V MVi Rochester 42 23 23 23 10 I Star Markets 37 20'4 Sybron 57 24 23 24 5'i Tobin 5 5 5 Vi 17 9 Voplex 10'4 10 10 Vi 170 139 Xerox 373 154 151 Vi 154 2 A Ilk Youngster snaps photo with disposable camera..