The Galveston Daily News from Galveston, Texas • Page 7

Monday Morning, June 13,1983 Sije lailff Sfewi 7-A Inflation fears hit Wall Street NEW YORK (AP) Some uneasy conjecture has been stirring on Wall Street lately that inflation has begun to revive. But most analysts stilt dismiss those fears as premature, If not unwarranted altogether. The prime source of concern has been the recent rapid growth reported by the Federal Reserve in the basic measure of the money supply. If the Fed doesn't take steps soon to slow this growth, some observers worry, it could soon translate into new upward pressure on prices throughout the economy. The money-supply numbers have helped push prices down and interest rates up over the past month in the bond market, which is especially sensitive to changes in inflation expectations.

The stock market has also declined, although not so sharply. After falling 16.93 to 1,196.11 in the past week, the Dow Jones average of 30 industrials showed a net toss of 36.48 points since it hit a record high of 1,232.59 on May 6. Other readings for the week showed the New York Stock Exchange composite index down .68 at 94.45, and the American Stock Exchange market value index off 1.34 at 465.18. Big Board volume averaged 87.75 million shares a day, against 82.92 million the week before. One place that has shown no symptoms of any new inflation fever is the gold market the traditional haven for investors worried about damage to the purchasing power of paper money.

Gold traded this past week in the low $400s, less than half its peak of 2 i years ago. Analysts at the Value Line Investment Survey contend that stocks, too, have shown a great deal of "resiliency" in the face of the money-supply trend. $83 1 'lM i cib F01C AMERICAN BANK Money Market Rate t.M% 765-9421 MAIDS FOR HIRE TIKtDOf CUANWGT RENT A MAID Janitorial and Carpet Shampooing Bonded itlmatct Five-millionth guest welcomed Sea-Arama's Cap' Sharkey and general manager Ralph McPheeters (left) welcome the five-millionth guest, D.C. Lenz, and his son Chris, to Sea-Arama. Lenz, a resident of Houston, is the recipient of a five-day vacation trip to Washington, D.C.

Chris is a fifth grader at Poe Elementary School. Isle port offering harbor tours GALVESTON' Harbor tours of the Port of Galveston are being offered by the communications department. Passes for the tours will be available to Galveston citizens at the port offices on the eighth floor of Shearn Moody Plaza. The passes are redeemable for a two-hour narrated trip around the port on one of the local tour boats. They will be available to citizens during the June, July and August.

The tour boat operations are based at Pier 19 and leave at 10 a.m., 2 p.m. and 7 p.m. seven days a week. WOMEN'S PROPELLER CLUB The Women's Propeller Club-Port of Gaiveston had their installation banquet recently honoring their 1983-84 officers and board members. The new president, Jane Suderman, is also second vice president of the National Women's Propeller Club.

Her new slate of officers includes Eileen Hopper, first vice president; Connie Conde, second vice president; Vinnie Nesbitt, third vice president; Mary Poe, treasurer; Peggy Thrailkill, recording secretary; Sharon Kirkpatrick, corresponding secretary; and Jeannette Forrest, historian. New board members are Becky Suderman and Martha Wedemyer. The banquet was held at the Holiday Inn on The Strand. Jane Suderman won the main prize in the annual raffle. Mrs.

E.E. Lance and Mrs. Alice Harrington also won prizes. FULL TIME SECRETARIAL SERVICE TYPING COPYING PHONE ANSWERING BOOKEEPING TOWN CENTER 1419 TREMONT STREET, GALVESTON, TEXAS RETAIL, OFFICE COMMERCIAL SPACE 81 SQ.FT. TO 4500 SQ.FT.

PHONE 765-7368 or 765-5600 Bob Nesbitt, retired Port of Galveston employee, noted Galveston historian and "Godfather" of the club, conducted the installation. CARGO, VESSEL REPORT This week 28 vessels are scheduled to work their cargoes along the waterfront. Four container vessels are scheduled to load and discharge containers at the east-end container terminal. Barges are due in to discharge articulated buses at Pier 14 East. Two refrigerated banana boats will discharge boxes of bananas at the Pier 19-21 banana terminal.

Five ships are scheduled to load sacks of flour at Piers 23, 25-26, 33 and 35. Sacks of rice will be loaded on two ships at Piers 30-32 and 39-10 and special white rice will be loaded by another vessel at Pier 30-32. Five ships are due in port to discharge crates of plywood at Pier 36 and barges will load cargo at Pier 27. Two grain ships were at lay berths, and five have come to port for inspection and gone back out to drop, anchor outside port facilities to wait their turn to load grain. Texas City insurance agent to attend sales group meeting TEXAS CITY Jim W.

Kelly, manager of American General Life Insurance Co. here, will be among the anticipated 4,600 members of the Million Dollar Round Table gathering hi Dallas June 26-30 for this exclusive life insurance sales association's 56th annual meeting. Thirty-nine countries will be represented, making the meeting the most comprehensive sales forum in the life insurance industry. Experts in estate planning, taxes, inflation and law will share their knowledge in a series of seminars. Proposed New Issue Cherokee County Health Facilities Development Corporation Hospital Revenue Bonds (Newburn Memorial Hospital, Inc.

Project) Series 1983 TAX FREE INCOME Suhjnl In ptinr utilr unj i hunxe in fint f. Henderson, Few Co. is proud to serve as Managing Underwriter of this issue. For further information on this tax free investment opportunity or to receive a copy of the Preliminary Official Statement, please contact us at our expense or return this coupon. This is not an offer to sell nor a solicitation of an offer to buy; (he offering is made only by the Official Statement.

Preliminary, subject to change. Henderson, Few Co. Members: 135 International Blvd. SIPC Atlanta, GA 30043 (404) 524-0671 WATS: (800) 241-9029 I Please send me. without obligation, a copy of the Preliminary Official Statement describing the proposed Name Address City I (Hm.

Phone) State Zip Henderson, Few Co. A NASD SIPC INVESTMENT BANKERS III The space shuttle Columbia made 37 orbits of the earth before landing in 1981. The televised landing was watched by 800 million people. I 0 MORE NATURAL HEARING Today you can have more natural hearing without wearing conventional amplifiers that hang behind the ear or on the body. It can be done using the Electronic Ear Mold.

For information on our free test, call in Galveston 765-8772 or write: The Hearing Aid Testing 3818 So. Shepherd, Houston, Texas 77098. Please include your phone number. We make home visits to TOO miles at no charge. Apple week.

The Celebration continues with specially priced software. This week only! Get off our entire stock of Apple software including spreadsheets, accounting, word-processing, and games. With names like Multiplan lie, Apple Writer He, and Choplifter. Software for all Applica lions! (Sale limited to stock on hand.) Be sure to meet special Apple envoys Chris Appleton and Mark Wood tomorrow from Warn to 1pm at our brand new Galveston store. (5934 Broadway, 744-3983.) Come join the fun! ComputerCraft All PULA.SKI Keepsakes Apothecaries OFF BUY LATER! Use one of our convenient credit plans.