St. Louis Post-Dispatch from St. Louis, Missouri • Page 9

tasfcess the economy Mar. 3, 181 j9it ST. LDUIS POST-DISPATCH MoPac Merger Faces Opposition Granite City Steel pTakes A Big Step In Modernization producing slabs from ingots. As a slab emerges from the caster at a rate of 40 to 60 inches a minute, it is cut into lengths from 15 to 33 feet. The cut slabs then are moved to cooling, inspection and storage areas.

Later, some are torch-cut lengthwise into two or three slabs to widths required by the plant's 80-inch hot strip rolling mill. The caster will reduce fuel requirements by about 10 percent, James V. Stack, president of Granite City Steel, said. Because the cast product is more uniform, it has better drawability, surface quality and metallurgical properties than steel produced from ingots. Love said the new Granite City facility goes a long way in helping National Steel become the low-cost producer ifcthe industry and to realize greater stability in earnings.

National Steel is the first major domestic producer to be able to produce more than 50 percent of its steel by continuous The industry produces only about 20 percent using this method. i Another improvement underway at the Granite City plant is the adaptation of its two basic oxygen steel-making furnaces to the newest techniques of introducing oxygen, lime and carbons at the bottom as well as from the top. Work on the furnaces is expected to be completed this month, Stack said. With the start-up Monday of an advanced-design, multimillion-dollar Slab casting machine. Granite City Steel took a big step toward improving efficiency, product quality and competitive position, Howard M.

Love, president and chief executive of National Steel which owns lOranite City Steel, said. I Plans for the machine, which is housed in a 12-story building, were announced in February 1979. Cost of the. slab caster was not announced, but it is part of an expansion and improvement program that cost more than $50 piOlion in 1979, $116 million last year, and is scheduled to cost $60 million this year. The slab casting machine, which tarns molten metal into a continuous ribbon of solid steel, has an annual capacity of 1.2 million tons, or more-than 55 percent of the plant's output capability.

Molten steel is charged into Jhfc) top of the caster from a ladle that carries it from the plant's basic oxygen Jurnaces. I The caster is the first machine of its iind in North America to utilize a "remotely adjustable mold for varying the width of an 8-inch thick slab between 49 inches and 84 inches. Productivity is improved by increasing the number of slabs that can be produced from a given amount of hot metal, compared with the old method of Compiled From News Servient WASHINGTON The head of the parent company of Union Pacific Railroad said today that the decision to acquire Missouri Pacific and Western Pacific reflects confidence in the rail industry's future. John.S. Cook, president and chief operating officer of Union Pacific was the first witness at an Interstate Commerce Commission hearing on the joint merger application of Union Pacific, Missouri Pacific and Western Pacific.

The newly merged system, which would be known as Pacific Rail, faces opposition from 11 other railroads. "We have taken a long look at the railroad industry, particularly the future of our princiipal rail asset, Union Pacific Railroad Cook said in a prepared statement. "We have confidence in the future. "We also believe it is important for Union Pacific Railroad to maintain a strong competitive and financial position in the face of changes which we see on the horizon, and it is important that it be best positioned to respond to these changes." The proposed merger would produce the natton's third-largest railroad, with about 22,600 miles of track linking 21 states from the Pacific Northwest and Southern California to the Gulf of Mexico and the Great Lakes. The new system would have 3,000 locomotives and 130,500 rail cars.

Cook said Union Pacific, operating primarily through the central Midwest to the Northwest and through Utah to Southern California, depends on other railroads to reach important gateways to the East, South and California's Bay Area. Pacific Rail would have about 22,000 miles of track, 3,000 locomotives and 1 30,500 rail cars. railroads. Western Pacific has 1,719" miles of in California, Nevada and Utah. Union Pacific has" promised to spend $90 million to upgrade Western Pacific track.

The railroads said the merger Jc would create little duplication of trackage and no rail abandonments, and they estimated 235 new employees would be1 needed. of the case probably will be assigned to a second administrative law judge. The merger application is opposed by Southern Pacific, the Santa Fe and Burlington Northern, all major western railroads. Union Pacific, with 9,577 miles of track, and Missouri Pacific, with 11,464 miles in the lower Midwest, are two of the nation's strongest The ICC has 31 months to act on the petition, but commission officials say the merger could be decided in as little as a year if the applicants remove possible anticompetitive features. Administrative Law Judge Paul Cross, in a written opening statement, promised "a diligent effort" to finish the hearing by the end of 1981.

He also said some parts Treasury Bill Rates Rebound To 14.133 Percent In Auction M. Darrell Ingram Named Petrolite President 14.383 percent on six-month money market certificates, which are tied to the 26-week Treasury rate. The current ceiling on the $10,000 minimum-deposit certificates is 13.861 percent. Savers choosing 2V-year certificates can earn 12 percent at thrift institutions and 11.75 per cent at commercial banks. Those yields are at their federally controlled ceilings.

The discount rate on short-term Treasury bills understates the actual return to an investor because a portion of the price is refunded at the time of purchase. The i actual return, or investment rate, came to an average oi 15.43 percent on 26-week bills and 15.22 percent on 13-week bills at Monday's auction. r. WASHINGTON (AP) Interest rates for short-term Treasury securities rebounded Monday, regaining almost half the ground they lost last week, the government reported. The average rate on 26-week Treasury bills climbed to 14.133 percent from the 13.611 percent of last Monday, the Treasury Department reported after its weekly auction.

The new figure is the highest since the 14.76 percent reported two weeks ago. The average rate on 13-week T-bills rose to 14.463 percent from? 14.103 percent last Monday. The new level is the highest since the 15.464 percent of two weeks ago. Beginning Thursday, banks and thrift institutions may pay as much as "At least 85 percent of profits decontrol will go to the federal aad state governments in taxes. It can help' finance President (Ronald) Reagan's proposed reductions in income tax his year.

Price is the most simple! and effective means of conservation." Stockholders re-elected 10 directors to the Petrolite board and approved a proposal which doubles the company's authorized capital stock to 16 million shares and splits issued 'and' outstanding stock twe-for-one. The" stock will be split to stockholders of record March 23. 'u" 1 The board of directors also increased' the stock dividend 29 percent, to 40 cents a share, from 31 cents on a pre split basis, or to 20 cents a sharer, from'! 15.5 cents, on an after-split basis." The new dividend is payable April" 24 -to-stock of record April 10. where it has a plant worth nearly $4 million which receives concentrated versions of Petrolite's oil field chemicals and blends them to specifications set to help solve particular client problems. "You have to keep your capital expenditures in the Middle East to a minimum," Brown said in an interview aftef Monday's meeting.

"We were supposed to go into Iran, but we were able to dodge that one. We smelled that one out before it Happened and moved all of our equipment to Singapore." Brown welcomes efforts by the Reagan administration to keep fedgral spending under control. "Of course, we are pleased to see an end to the crazy quilt of price controls on domestic crude oil and not merely because it is good for our business," Brown added. record revenues, earnings up 59 percent, return on stockholder's equity at a record 25 percent. was about to close the question-aifci-answer period when a stockholder rose to play the devil's advocate: With all the good news about the company, could Brown tell them what's wrong with Petrolite? "My two biggest concerns right now," Brown replied, "are the world political situation and finding good people.

The company is growing so fast, we are always looking for qualified people, and good people are hard to find." World politics is a very real concern for Petrolite, whose good fortune is closely tied to oil exploration, particularly abroad, where its unit sales of oil field chemicals rose nearly 35 percent last year. The company's only major facility in the Middle East is in Saudi Arabia, By Dale Singer 01 the Post-Dispatch Staff Petrolite Corp. has elected M. Darrell Ingram president as part of what Chairman Ellis L. Brown calls an "orderly and timely" transition at the top of the St.

Louis-based company. The change was made by Petrolite's board late Monday, after the company's annual meeting. Ingram, 48, has been with the company for 19 years and has been executive, vice president and chief operating officer since January 1980. He retains the title of chief operating officer. Brown, 65, had been chairman, president and chief executive.

He remains chairman and chief executive, titles he gained in 1966. At Monday's meeting Brown had just completed delivering his 1980 report to the company's well-orchestrated annual meeting, and the news was good 15th straight year of Kredietbank Is Number One' Atlanta Firm Agrees To Buy KDNL-TV Here jt.V- When Kredietbank, a Belgian bank with assets of $16 billion in 700 offices around the world, decided to open an offjae in the Midwest, it came to St. Loffis instead of Chicago so it could say, "We're number one." Arnold Van de Voorde, senior vice president and general manager in charge of Kredietbank's operations in the United States, said Monday that the bank's plan is to offer its services in all regions of the United States. After opening a New York branch in October 1977, he said, Kredietbank opened in Atlanta a year ago. Its St.

Louis office, at 727 North First Street in Laclede's Landing, opened for business Monday, and a Los Angeles office is expected to open within a week. An office in Texas is being considered for opening some time during the next year. "The first question people always ask me," Van de Voorde said, "is why open our office in St. Louis? Why not Chicago? It's a matter of pride. If we had opened in Chicago, we would have been the 59th foreign bunk.

In St. Louis, we're number one." As the first foreign banking agency in Missouri, Kredietbank is expected to assist regional banks with international business transactions and offer loans to major customers. Under federal, banking laws, it is not allowed to accept any deposits at its St. Louis office. Kredietbank, whose net worth is $450 million, has international headquarters in Brussels.

The bank's senior representative in St. Louis and only representative, so far is Thomas E. Wilcox, a native St. Louisan who joined Kredietbank after three years with Continental Illinois National Bank and Trust in Chicago. the United States.

The agreement with Cox is Evans' second agreement for the sale of Channel 30 in the past year and a half. Evans announced in September 1979 that the station would be sold to Buford Television Inc. of Tyler, Tex. A KDNL spokesman said that agreement didnlt 11 get as far as FCC consideration. Previously, Evans had held negotiations with Time Inc.

for the purchase of KDNL. 23 Percent Drop In Dividend Increases, Atlanta-based Cox Broadcasting Corp. has agreed to buy KDNL-TV, Channel 30, from Evans Broadcasting Corp. for $13.2 million, pending Federal Communications Commission approval. Cox owns and operates five VHF television stations in Atlanta; Dayton, Ohio; Charlotte, N.C.; Pittsburgh, and San Francisco-Oakland.

Under FCC rules the company also is allowed to own two UHF facilities. KDNL here is a UHF station. William A. Schwartz, Cox executive vice president and president of its broadcasting division, said non-network stations over the past few years have experienced tremendous growth. Channel 30 is an independent station, as is Cox's San Francisco-Oakland station.

Channel 30 also holds a license from the FCC for subscription television. which Schwartz noted offers an alternative programming possibility. Subscription television is a version of pay television in which a station broadcasts scrambled signals which can be unscrambled only on a set equipped with a special decoding device. To receive the programming, the subscriber usually must pay an installation fee and a monthly service fee for the decoding device. In addition to its television stations, Cox has five AM and seven FM radio stations.

Its broadcasting division also includes TeleRep and the Christal national television and radio sales representatives, and Schulke Radio Productions, a syndicated music business. Another Cox subsidiary. Cox Cable Communications, is one of the largest cable television companies in NEW YORK (UPI) February marked the 12th straight month that fewer companies increased their dividend payouts over the year-earlier period, with 23 percent fewer hikes declared last month, according to Standard Poor's Corp. Total favorable dividend actions increases, extras and resumptions decreased to 311 from 409 in February 1980. At the same time, dividend decreases and omissions rose to 24 in February from 14 the same month last year.

Total dividend declarations in February came to 3,166, down from 3,291 the previous year. Wolffs Clothiers Cutting Store Size in smaller stores than they used to," Sterneck said. "Through modern nerchandising techniques, they've found they can do the same volume or more with smaller space, 'and it cuts down on their overhead." BRING THIS AD SAVE 50CZ3CC this month, Sterneck said, and a second client, whose name has not been revealed, also will move into the vacated space. Sterneck said Wolff's decision to cut back from its former 10,000 square feet is in line with a trend at retail shops across the country. "Everybody's putting Wolff's Clothiers in Northwest Plaza is cutting the size of its store by about one-fifth.

Morris Sterneck of Northwest Plaza said two new stores will be moving into the 2,100 square feet being vacated by Wolff's and remodeled for new tenants. Merle Norman Cosmetics will be in by the middle of Saxon New Plain Paper Copier Only $2995 INVEST IN YOUR FUTURE! BE YOUR OWN BOSS! WJM YiyJL7 WN DUJJSDKIGSS GXP MAR. 7-8-9 HILTON INN (Airport)-10330 Natural Bridge EXHIBITS OPEN FROM 1 1 AM to 7 PM Earnings omriMUMt Mr IYmtI S234.775.O00 14.476,0001 HMV.WWU.SUf Sam P. Wallaca Ca lm Olr) FOR SALE! Excellent 6,000 q. ft.

bldg. on large lot fronting 200 ft. on Watson Rd. near Rock Hill Rd. Ideal office, retail or service.

BANK OF ST. LOUIS Realtors 241-3600 SHOP A HUGE MARKET 0 FRANCHISES AND DISTRIBUTORS! LJ $67,900000 $70,000,000 lUa) UmwLwiI llliMm Indue (Year) $107,300,000 SI21.8O0.O0OI Monday First tines shows total revenue, second line snows net income and earnings per share (in parentheses). Latest Year ago Am Inll (I mos) ttif.7m.ooo CHS.900,000 KOOtMXO tunny Indus (Year) 13.200,000(1.20) $1,200,00912.361 Del E. Webb Com (Year) smmooo 14,100,0001.421 $9,400 START YOUR OWN FULL OR PART-TIME BUSINESS! Why work for others? Talk to representors of many companies from all over U.S.A. mnnu Hinlnv oat free literature about many full and Dart-time opportunities for $1,104,14112.46) $2,360,11615.07) Cidlalr tM IYarl $12776,000 Ranger Oil (Year) 1140,800.000 $70,000,000 men or women of all ages.

Investments come from 1 2.50 to 1 00,000. Come anytime between 11 AM to 7 PM Sun. or Mon. YOU CAN ALSO ATTEND FREE SEMINARS ON SUCCESS "I IN BUSINESS AT 11 AM, 2 PM and 4 PM. Each seminar covers these and many other topics: How to get started Pros Cons of incorporating Businesses under $1,000 How to pick the right business What's wrong with partnership Businesses for women How to borrow money Full time vs.

part-time Businesses for retirees Business trends for the 80's How to reduce taxes Hottest new business ak ua a sm triiiiiiA n9 COMPUTERS EXHTBTTTOPQTmiLMAN PROMOTIONS: 51 3559 tJ 1st in Features, Performance. Price! TRS40 MODEL III Economy without Now trade in your copier, whatever the make or condition. And get as much as $1000 off on the compact Saxon 301 plain paper copier. Brand new plain paper copier with full warranty Leasing available with monthly payments as low as $58.55 plus tax Deal directly with manufacturer Call today. Offer good only while supply lasts.

Compact Integrated Design With Built-in 12" Monitor Fits Easily on a Desktop Over 80 Ready-to-Run Programs to Choose From, Or Write Your Own Programs For Business Personal Use sacrifice, Use Mhmated mpg" (oi 1261 EPA est. mpg- conpanson Mraoe Mflth speed, tnp tengfn. and A tjnearher Actual highway 4 I st. hwy. mpg.

mweage wi probably be less am Easy Internal Expansion to 48 and 2 Disk Drives The Perfect Starter Computer That Grows with Your Needs IF From SgSlSl RADIO SHACK HAS OTHER TRS-80 COMPUTERS TO FIT EVERYONE'S NEEDS FROM $249 TO $10,000. St. Louis Branch 314-569-3090 Sand SAXON are registered trademarks of Saxon Industries, Inc. M3 AVAILABLE ONLY AT RADIO SHACK STORES, COMPUTER CENTERS AND DEALERS. CHECK YOUR LOCAL PHONE BOOK FOR LISTINGS.

PARKT0WII PORSCHE AUDI K0230 Manchester Rd. (Kirkwood) 965-771 1 i.