St. Louis Post-Dispatch from St. Louis, Missouri • Page 15

I' mil ln Business ST. LOUIS POST-DISPATCH July 14, 1984 15A Business Briefcase People In Business liy Bill Balota National 4 3 UuJLlU II 1 Li U2LIQKCi S. T. Drazen W. Maass J.

Nichols J.K. Sachs J.T. Krussel J.E. Povis T.V. Bruns '1- 1 J.

1 1 1 If RAYMOND K. MASON, chairman of debt-ridden Charter has sold 8 percent of the Charter shares he once controlled, according to a filing with the Securities and-Exchange Commission. UNOCAL stock rose 5 to 36yg in heavy trading on the New York Stock Exchange Friday on rumors Standard Oil Co. (Indiana) was readying a takeover bid for the Los Angeles oil giant. Unocal denied the rumors and Indiana Standard said it follows a policy of not commenting on speculative reports.

position of president of Emerson" Xomox division in Cincinnati. He will succeed Lawson Reed there, who has become chairman of the board of the division. Bruns will based in Cincinnati. Photo Kis USA promoted William D. Hubbard to district manager.

AIR FLORIDA recalled 17 mechanics and cleaners to get its grounded planes ready to fly, and continued to bargain Friday with laid-off pilots for hefty wage concessions. The airline, grounded since it filed for bankruptcy July 3, set no date for resumption of service. THE ASSOCIATION of Western Pulp and Paper Workers union ratified a three-year contract with three major wood products companies. About 4,500 pulp workers on the West Coast are affected by the pact. Companies involved are Georgia-Pacific Weyerhaeuser and Boise-Cascade Corp.

HEALTHDYNE Inc. of Marietta, reduced its work force by 10 percent and has made budget cuts in an attempt to return the firm to profitability, company officials said. Heal-thdyne lost $450,000 in the recently ended second quarter. It was the third straight unprofitable quarter for the company, whose stock plunged from 403 points a year ago to a current William Tao Associates Inc. promoted Judy K.

Sachs to vice president, Joseph T. Krussel to associate and Joseph E. Povis to engineer. Thomas V. Bruns, corporate group vice president at Emerson Electric Co.

here, has been appointed to the additional promotions at J.vHenges Enterprises were Werner Maass to senior vice president and Jerry Nichols to executive vice president. Thomas L. Cox joined Royal Oaks AMC JeepRenault as used-car sales manager. Porta-King Building Systems, a division of J. Henges Enterprises promoted Steve Schulte to president, a new position.

Tom Drazen was promoted to vice president. Schulte also was appointed corporate vice president of the parent firm, J. Henges Enterprises. Other Treated Wood To Remain On The Market By Catherine Vespereny Of the Post-Dispatch Staff Consumers seeking to buy treated wood to build fences, decks or other structures will not be affected by a recently announced federal restriction on the sale of three chemicals used to treat such wood, officials from lumber companies say. Earlier this week, the Environmental Protection Agency announced it would restrict the sale of three common preservatives because they cause cancer in animals.

The chemicals are creosote, pentachlorophenol and inorganic arsenicals, which make up the bulk of the wood preservative market. Beginning Feb. 1, the three chemicals will be sold only to certified applicators, not to the general public, the EPA has said. But the agency has not restricted the sale of wood that is already treated, because tests indicated that most of the risk stemmed from applying the preservatives and handling the 6 points. WARNER COMMUNICATIONS Inc.

said it sold 78 percent of its WCI Labs Inc. subsidiary to WCI Labs management. Terms were not disclosed, but "in terms of the amount it was not material" to Warner Communications, a Warner spokes'man said. WCI Labs was formed in September 1982 and helped develop home computers for Atari the consumer-electronics unit that Warner sold July 2. tji PUBLISHER RUPERT MURDOCH disclosed he had explored the possibility of making "an unsolicited tender offer" of $50 to $55 a share for 50.1 percent of St.

Regis Corp. stock. But Murdoch said in documents filed with the Securities and Exchange Commission that discussions had been "exploratory." He reaffirmed that he has "no present intention to seek to acquire control of the company or to request representation on the company's board of directors." EAGLE COMPUTER Inc. will lay off 83 administrative and manufacturing employees, leaving the company with 140 workers down from a high last year of 330. But Eagle president Robert N.

Mickwee announced that an informal committee of unsecured creditors had approved an agreement restructuring the company's $9 million debt. 1,300 WORKERS who went on strike a week ago at Century Brass Products Inc. of Waterbury, voted Friday to accept a new contract without a wage hike in the first year. United Auto Workers Local 1604 approved the contract by a 4-to-l margin. It provides for bonuses instead of wage increases in the first year of the three-year contract.

Agreement In Strike At General Dynamics Division The preservatives are used to control fungi, insects and bacteria in wood. They can extend the life of wood as much by as much as five times. Creosote is commonly used on railroad ties and utility poles. EPA officials have said that it causes cancer in animals and has been linked to skin cancer in some workers who have used it. Pentachlorcphenol is used to treat utility poles, fence posts and signposts, as well as timber for log cabins.

It contains a dioxin that is less toxic than the type that has contaminated soil at 38 sites in Missouri. But EPA officials said that the dioxin in the preservative has caused cancer in animals. Inorganic arsenicals are used primarily in commercial and home construction. EPA officials said that arsenic has been linked to cancer in people who either drank water contaminated with it or who breathed air containing it. Under the EPA regulations: briefly after workers voted by a 3-1 margin last Sunday to reject a company proposal.

The company had said it had nothing more to offer and would not resume negotiations until the union offered a "constructive counterproposal." The breakthrough came when the two sides met until 1 a.m. Friday, leading to the tentative agreement. Among the proposals to be voted on is one that would grant bonuses of 3 percent in each of the first two years based on salary and a general wage increase of 3 percent in the third year of the contract. Also to be considered, Barnes said, Kong to close at a bid of $345,783 a troy ounce. In London, bullion was later bid at $343.80 an ounce, up from $341.75 Thursday and $341 last Friday.

Gold was bid at $344.50 an ounce in Zurich, up from $341 Thursday but lower than last Friday's $346.50. Later on the New York Commodity Exchange, gold bullion for current delivery bounced up $6.40 to close at International TAIWAN has approved a $40 million joint venture with American Telephone Telegraph Co. to manufacture digital telephone switchboards in Taiwan, Premier Yu Kuo-hwa informed Parliament. THE U.S. EXPORT-IMPORT BANK has loaned Mexico $500 million to finance imports needed by Mexican industry, the Bank of Overseas Commerce said.

It said the World Bank had lent $350 million for the same purpose. The bank gave no further details. Beginning Feb. 1, the sale and use of the three wood preservatives will be limited to certified applicators. A spokeswoman for the EPA said that persons will be able to be certified through state agencies, as; yet unnamed.

Protective clothing and respirators will be required "Jor workers applying the preservativeslor handling freshly treated wood. Manufacturers will be required to reduce the level of dioxin pentachlorophenol. Wood treated with creosote or pentachlorophenol can be used indoors only under limited conditions and only when it is covered by a sealant. Pentachlorophenol cat) ho longer be used to treat wood used to build log homes. Indoor use of inorganic arsenicals is not restricted.

The wood-treating industry will have to warn consumers of jthe products' dangers and provide information on precautions. is a hike in pension benefits from $14 a month to $18 a month and the company's full payment of health and welfare benefits. Other proposals include a bridging of service on pension credits and a 48-month recall policy for laid-off workers. Aside from the arrest of three picketers who refused to leave a company-leaded bridge near Lindbergh Field and some blocking of traffic at plant gates, the strike was peaceful throughout, police spokesman Bill Nelson said. The last strike at Convair was a one-day walkout in 1960.

Prior to that, a 100-day strike in 1947 was last job action on record. $344.40 an ounce. A week earlier, gold closed at $345.10. SILVER was bid in London at $7,515, up from $7,355 Thursday but down from $7,575 last Friday. On New York's Comex, silver bullion for current delivery closed at $7,447 a troy ounce, a gain of 15.2 cents Thursday but 6.1 cents from the end of the previous week.

10400 W. Main St. Belleville (618) 397-8200 freshly treated wood. "The intent of the EPA was to restrict the sale of the chemicals. But consumers can still buy treated wood," said Pat Sinclair, a branch manager here with Georgia-Pacific Inc.

"The gist of the announcement was to protect people treating the wood," he said. Confusion arose recently over the extent of the EPA restrictions. The agency had been reviewing the preservatives for almost six years. W.L. Behan chairman of the board of Hill-Behan Lumber said the restriction will not have much effect on his business.

"There will be no change as far as our set-up is concerned," Behan said. "A person will still be able to come in here and buy treated wood for a deck, fence, or whatever." Those people who want to treat the wood themselves but are not certified to do so can use certain natural preservatives, such as linseed oil or some stains, he said. negotiator Bill Weignd told the San Diego Tribune. Convair, which performs the vast majority of its work under defense department contracts, makes cruise missiles, rocket boosters and space launch vehicles as well as fuselage sections for the Air Force KC-10. About 300 Convair technicians at Cape Canaveral work on Atlas Centaur rockets, but the walkout had no effect on the Space Shuttle program, said Hugh Harris, a spokesman for the National Aeronautics and Space Administration.

Negotiators for the two sides continued bargaining for all but three days of the strike. Talks broke off Money THE DOLLAR, which exploded to record heights earlier this week, staged a broad retreat in quiet trading Friday as traders sold the U.S. currency to cash in on the rally. The major factor in the dollar's rise was a perception that interest rates will remain high while inflation will stay under control in the United States, a combination that would keep returns highly attractive on dollar- denominated investments. The dollar began the trading day by railing to 241.95 Japanese yen in Tokyo, down from 242.73 yen Thursday but up from 241 yen last Friday.

Market sources said the Bank of Japan entered the market to sell dollars in defense of the yen, but the size of the intervention was not known. In London, the British pound was quoted at $1.3225, up from $1.3075 Thursday and $1.3210 last Friday. Later in New York, sterling rose to $1.3205 from $1.3075 late Thursday. Late dollar rates in Europe, compared with late rates Thursday, included: 2.8355 West German marks, down from 2.8540; 2.4000 Swiss francs, down from 2.40125; 8.6850 French francs, down from 8.7515; 3.2030 Dutch guilders, down from 3.2165; 1,743.00 Italian lire, down from and 1.32725 Canadian dollars, down from 1.33515. Late dollar rates in New York, compared with late rates Thursday, included: 2.83175 West German marks, down from 2.8535; 241.50 Japanese yen, down from 242.60; 2.3980 Swiss francs, down from 2.4170; 1.32805 Canadian dollars, down from 1.38135; and 8.6825 French francs, down from 8.7625.

GOLD, which fell to a two-year low early in the week, continued to recover Friday and was bid at $344.75 a troy ounce late in New York. That was a gain of $6.75 an ounce from the late bid Thursday, a rise of $12.25 from the week's low of $332.50, but it was off 25 cents from the end of last week. Gold bullion rose $1.80 in Hong Commodities NEW YORK (AP) Weighted wholesale Index af 35 commodities: Fri. 557.65. week ago 559.69; month ago 563.59; year ago 51 1.48.

1984 1983 1982 1981 High 568.49 538.15 531.81 548.66 Low 537.44 478.57 474.04 433.15 LOCAL PRICES Close Prev. Close 13.25-22.00 54.50 APPLES HOGS.too HOGS.bulk 220-240 lbs. LAAABS.top POTATOES, russet 13.25-8.00 54.50 52.00-52.50 66.00 52.00-52.50 18.00-19.00 17.50-19.50 Bank Clearings St. Louis bar clearings for July 13 were 1268,000,000 versus year ago. Banks, Funds Raise Money Rates 8311313 1984 Coupe DeVille Holliston, said the average seven-day yield jumped to 10.21 percent from 10.05 percent the previous week.

Thirty-day yields rose to 10.07 percent from 9.98 percent. The average maturity of fund portfolios stayed at 36 days. Donoghue's noted that the largest increase was in consumer funds. The firm believes that consumers are moving Into liquid investments to take advantage of current high rates and to await the direction of interest rates. Banks also hiked their rates.

The Bank Rate Monitor, Miami, said average yields on Money Market Deposit Accounts rose to 9.20 percent from 9.13 percent; Super-NOW accounts averaged 7.34 percent, up from 7.31 percent. NEW YORK (UPI) Assets of money market mutual funds rose $1.3 billion in the week ended July 11. All categories of funds rose but the biggest increase was in consumer funds. The Investment Company Institute, a Washington-based industry group, said the latest increase brought assets to $175.4 billion. Money market funds sponsored by brokerages posted the largest increase $1 billion.

General purpose funds rose $245 million while institution-only funds were up $40 million. The ICI said total fund assets are flow at the highest level since April 13, ,1983. Yields rose sharply in the week. Donoghue's Money Fund Report, SAN DIEGO (AP) An agreement has been reached that could end an 11 -day strike by 4,200 workers in General Dynamics' Convair Division, union and company officials said Friday. The tentative accord was announced by Machinists union officers, who said a ratification vote would be held tomorrow.

If approved, workers would return to their jobs tomorrow night. The machinists struck Convair plants at San Diego, Vandenberg Air Force Base in Santa Barbara County and Cape Canaveral, on July 3 after working under terms of a contract that expired April 29. Convair was pleased that the union had offered a "constructive counterproposal that resulted in a tentative agreement," company spokesman Jack Isabel said. Andy Barnes, an international representative of the machinists, said the union leadership was recommending passage of the proposed agreement. "I think it matches and is as good as any aerospace agreement (negotiated) this year," chief union Six-month certificates of deposit rose to 10.65 percent from 10.56 percent; one-year CDs rose to 11.06 percent from 10.88 percent; 2 '2 -year CDs were 1 1 .38 percent, up from 11.21 percent; five-year CDs went to 11.79 percent from 1 1 .65 percent.

Annual effective yields on bank deposits were: MMDA 9.60 percent; Super-NOW 7.59 percent; six-month CD, 11.01 percent; one-year CD 11.44 percent; 22 year CD, 11.86 percent; five-year CD, 12.22 percent. Robert Heady, Bank Rate Monitor publisher, noted that for first time since bank rates began climbing on Feb. 1, there is a sharp increase on longer-term CDs. "Apparently the banks now believe the upwad trend In interest rates will continue," he said. 85 5.63 .09 37 10 20 .03 24 1071 .04 3 10.48 .01 55 5.42 .0 23 9.96 .63 58 10.11 .04 104 6 02 .03 19 10.33 .02 15 10 57 .07 1 11.22 .03 71 5 68 .02 33 1039 05 26 1027 .03 36 10.29 27 10.71 .12 26 10.87 .09 33 9 92 .08 50 9.86 .17 48 10.69 .01 49 10.52 .04 44 10.75 .45 28 979 .02 28 1032 .02 28 9.94 03 35 10.21 .02 34 10.40 01 38 9.95 .02 85 5.79 01 44 5.57 33 1036 03 30 10.16 .04 28 10 55 .02 39 9 93 01 32 1053 .01 36 9.97 OS 41 10.29 .03 34 1055 35 10.15 .02 56 5.73 46 5.41 26 10.75 24 10.72 .03 38 10.51 .02 27 10.45 .02 31 10.59 .02 21 10.16 .03 RowePrkePrmR I unaval RowtPrkoTxEx cf unaval RowoPricoUSTr unaval SafocoMMkt StPaiUMoMvFund SaMaorCiblm ScuddorGovt SaiddorTaxFr ef SoMctodMonryMkl ScurttyCaiHFd SaliiaiianCsh prima SentiMCain SortryCashMot ShoareonDaNvDIv SnoartonFMA Cih SheareonFMA Gvt ShoarunFMA Mun ShoarMnGovAoon ShortTormlnco ShorrTermYldSoc StgmaMMkt SfnnFarmBur StandbvR esrv SteinRooCashRei StttinRocGovlRes StoinRooTaxEx 23 1048 .01 10 10.57 .09 30 9 38 .91 34 9.67 52 5.39 .01 40 9 84 16 10 58 .03 18 10.56 .03 33 1013 01 21 10.31 .01 20 10.43 .02 20 10.53 34 10.01 .04 77 5.43 44 10.11 .05 34 10.32 05 18 10.29 .04 15 1012 .01 16 10.20 32 1057 .01 29 10.59 34 974 .02 51 5.39 .02 32 9.99 .04 54 547 .01 69 5.62 .01 34 5 38 29 1082 .02 23 10.77 .01 16 10.75 .05 39 10 13 .02 47 1034 .05 47 10.54 44 39 1089 .03 41 1084 .05 30 10.28 .04 27 10.29 .04 45 1003 .04 33 1022 .03 it I TaxExpt TaxFroobntrum TaxFrooMonov TamporarvlnvstFd TramamCaihRH TilnltyLlQd TTuitCaihRosf TrstWTroawTf TnttdUSAoM TrtlWPi inoObHf TrfffdComncI TruitShorfTonn TnlSMFdT TruitSnTrmUSGvt TrustUS TrtaiOU TuckorAnfhonv unaval TuckorAnttiGvt unaval UMB FodPort unaval UMBPrtmo unaval USAAMulvalFd USTroawrv UnHodCasnMomt a.

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Balance of new car warranty. Window sticker price is $20,751. Our demonstrator sale price is $17,142. 1984 Fleetwood Brougham Sedan Verv low mileage. Demonstrator.

Balance of new Money Market Funds car warranty. Save Eldorados. NEW YORK (API-The foMwiM quotations, cotected by 0 NASD XK. are the avtrioe of annuitized vMd end dolar-wmhted porttoM nuturffitt for IM 1 Minn day Period tndow Fridav.Jul 13. Yield based upon actual dhridonds nM (total rohirn) to shareholders.

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