The Akron Beacon Journal from Akron, Ohio • Page 17

AKRON BEACON JOURNAL Parvin Proposing Change Of Name and FilTDS)fi)S been selling as high as $111.50 a share. Coleman acquired working control by buying 300,000 shares at $35 apiece in late 1968. Thursday, April 9, 1970 1 10 Finley Is Suing Parvin 41 i CHICAGO (JB A $2.5 million damage suit was filed Wednesday on behalf of insurance man Charles O. Finley, charging that Parvin-Dohrmann and BETTER-LOOKING bumpers, color-matched to the car, are in vogue this model year. A Uniroyal urethane plastic called Vibrathane, 10 times tougher than rubber and most other plastics, is sprayed on, then spray-painted.

The 1970 model Olds-mobile Rallye 350 at right, which has the Vibrathane application, is being admired by the 1970 model at left Fishwick President Of John P. Fishwick, 53. an attorney by profession and one of the leading architects of railroad mergers, is the new president and chief executive of the Norfolk Western Railway. Fishwick was elected at a special meeting of directors in New York Wednesday to succeed Herman H. Pevler, 67, who retired after heading the road since Oct 1, 1963.

The is the parent company of the Akron, Canton Youngstown Railroad. Scheduled to retire in 1967, Pevler was asked by the board to stay on as president because of "pending merger matters." IX RETIRING, he noted that the final approval has taken longer than expected and that he wishes more leisure time than his present duties permit. Pevler will continue as a director and chairman of the board. Fishwick master-minded the merger and the formation of Dereco, an subsidiary, that is one of the keys to the merger plan. A NATIVE of Roanoke where the has its headquarters, Fishwick joined the railroad more than 20 years ago as assistant to the general solicitor.

He later became general solicitor, general counsel, vice president-law and senior vice president in 1963. Robert B. Claytor, 48, a senior vice president of the since 1968, was named to the newly created post of executive vice president Claytor joined law department in 1951 and moved up to vice president-law in 1964. Off The Ticker Parvin Dohrmann Co. shareholders will vote at the April 28 annual meeting- on changing the corporate name to Recrion Corp.

The purpose of the move is to counter "adverse publicity suffered by the company during the last year," the proxy statement says. The Los Angeles company, which designs and makes hotel, hospital and restaurant furnishings and equipment, until Feb. 9 was headed by Delbert W. Coleman, a former Akron lawyer. COLEMAN on that date resigned the chairmanship he had held for 13 months as one of the conditions under which an Oct 16, 1969 American Stock Exchange trading halt in P-D stock would be lifted.

The trading ban had been imposed because of charges of illegal stock dealings and other irregularities. Throughout 1969 the company had been involved in a host of other controversies, including violations of corporate disclosure laws, and trading in its stock had been suspended twice last Spring. FOLLOWING the October trading suspension, the company was charged with attempting to influence federal officials. The proxy statement for the upcoming annual meeting details the charges, including costs of $283,348 as a result of the various investigations. One expense item was a $50,000 payment for "legal services" to Nathan Voloshen, now under federal indictment for trying unsuccessfully to induce the Securities and Exchange Commission to lift the trading ban.

Oil Demand To Soar Demand for petroleum is going to be so great that the oil Industry will have to find more oil in the next 10 years than it has in the past 50, according to John E. Swearingen, chairman of Standard Oil of Indiana. "Free world requirements are expected to climb to 60 million barrels a day by 1980, and we'll have consumed almost 200 billion barrels by then," he said. Food Cost Rise To Slow A dramatic slowdown in the rise of food prices over the next few months was predicted Wednesday by the Bank of America. "This will help slow the annual rate of consumer price growth to near 4 pet.

by year-end compared with 5.6 pet. during the fourth quarter of 1969," the bank's semi-annual progress report on the U. S. economy asserted. Transfer Law Is Signed President Nixon signed into law Wednesday a bill designed to expedite transfers of executives and managers for foreign companies to branch offices or affiliates in the United States.

Originally the legislation applied only to Western Hemisphere businesses, but the House broadened the final bill so that it covered the entire world. It would establish a new nonimmigrant classification for any alien employed abroad for one year and who is seeking entry to the United States to work for the same firm. They Took Cuts In Pay Penn Central's board chairman took a pay cut last year of $1,734, according to the proxy statement sent out before the annual meeting here May 12. Chairman Stuart T. Saunders was paid $238,706 in 1968 but he received $236,972 in 1969, according to the statement David C.

Bevan, the railroad's finance committee chairman, was paid $131,984 in 1969, $4,359 less than the year before. Alfred E. Perlman, who retired as Penn Central president last December, was paid $176,192 last year, $105 less than in 1968. His successor, Paul A. Gorman, earns $175,000.

The company's net income in 1969 dropped to $4,388,000, equal to 18 cents per share, from $87,789,000, equal to $3.80 a share, in 1968. The company failed to pay a dividend in the final quarter of last year or the first quarter of this year. some of its directors conspired to make stock in the company appear more valuable than it was. Finley, owner of the Oak-land Athletics Baseball team, charged in the suit that purchased more than 12,000 shares in Parvin-Dohrmann 0 assurances from some of the directors that the company was "very successful." A SHOlT TIME later, the American Stock Exchange halted trading of the stock, citing allegations of rigging. Named a defendants, besides the company, were Delbert W.

Coleman, William C. Scott, John J. Dun-phy and F. 0. F.

Ass Mfi4l Co-Oppers OK Conner Board Slate Shareholders of Cooperative Enterprises of Akron Inc. endorsed the administration of Board Chariman Ray Conner by placing his five-man ticket on the board for three-year terms. It included incumbents Richard E. Mitchell, Charles Anderson and Sonny Hibbler, and two new directors, Robert J. Simmons and Lowell Chris-man.

SHAREHOLDERS also approved a dividend increase from 4 to 5 pet. on common shares, and 4 to 6 pet on preferred stock. They were told the seventh Co-Op Supermarket would open next Fall in Tallmadge, where roomier executive offices will be General Motors is delivering to GM dealerships its anti-smog kit for older cars that will retail for $9.95 uninstalled Cleveland-based Brush Beryllium has increased prices 4 cents a pound on its alloys containing copper Toledo's Ubbey-Owens Ford began float-glass operations at Its Ottawa, HI. plant A new service station credit card featuring a color photo of the holder has been introduced by Signal Oil Gas Timed for the start of the travel season, Hertz Rent A Car is unveiling a car rental plan offering seven days of motoring with unlimited mileage at $99 Bache Co. has moved its operations group into the securities firm's new Bache Building at 100 Gold st.

in the Wall Street area March sales for Peoples Drugstores rose 7.6 pet. over the! year-earlier month, bringing the 1970 period 5.4 pet. ahead of last year's first quarter. PepsiCo Plans Offer PepsiCo which has a 74 pet. controlling interest in Wilson Sporting Goods soon will seek the remaining 26 pet.

It plans to offer Wilson shareholders $17.50 worth of PepsiCo capital stock for each Wilson share. PepsiCo common closed Wednesday on the New York Stock Exchange at $51.50 a share. Hartcr Bank Ups Dividend By 25 Pet. Shareholders Canton's Harter Bank Trust Co. will receive a 25 pet.

increase in dividends as the result of a two-for-one stock split and a new dividend schedule. They will receive one additional share for each share held as of April 7. Starting THE PROXY statement also discloses that the company, now run by new management, will vote any proxies it receives against a proposal re-' quiring P-D to buy 5,500 of its own shares from FOF Pro- Complete Late American Stock Prices Net Sales Nat Salts saies Net prietary Funds Ltd. for $90 a (hds.) High Lew Last chg. share dIus commissions.

Net Last Chg. Sales (hds.) High Lew (hds.) High Law Last Chg. (hds.) High Law Last Chg. Kewane 1 23 23 IS 15 15 no Vi 17 wa uA uA IS, Coleman arranged that deal 4 21 110 10 2 14 10 7 10 14 14 last year, with the proviso 23 6 7 3iA 10 30 Vi 10'4 Polarad El Poloron Polychr Polymer Potter Inst Pratt Lamb 1 PrentHall .48 7 3V4 10 30 Key Co 1 6 Kilembe J5g 2 7 Kin Ark Corp 3V4 Kingsford .28 2 10 KingsLaf 1.44 30 KlnnypfC .05 X107 .10 wmi uie dune uiviut'iiu, wc bank will pay at a quarterly rate of 25 cents a share on the new stock which is comparable to $2 a year before the 2 18'4 I8V4 18 'A 32 33 32 334 1 7 7 7 2 9 9 9 Vi 1 24V4 24'4 24 V4 34l" 14 14 14 that he W0Uld StCk 30 50 50 so a from FOF if P-D shareholders .10 21 21 21 Vi 1 PresRItB .80 Klrby Ind .35 I lft lft 4 15 15 15 Va 3 17 17 17 13i4 13 13V4 V4 ProlerSt 9 Vi 9 Acme Hamll Acma Prec Adams Russl Admiral nll Asrodex Inc AeroFlow .30 Aerolnt .50 Aeronca .200 AerosolT Arovox Cp AIC Photo Aileen Inc AIM Cos Airlift Intl A lax Ma .10 rejected me piupimcu. P-D stock closed Wednesday on the Amex at $29 a share.

47 13 13 13 2 233A 23 23 Vi 4 16 16 16 Vi 9 5 5 7 9 5 5 7 9 5 4 7 9V4 4 4 4 33 33 3314 14 14 14 28 27 27 18 18 H8 5 5 534 14 14 H4 I 'a 7 7 A-B-CI) Sain Net (lids.) High Low List Chg. 1 5'A 5V 5 2 3 3 3 2 6Vi 6 6 3 10'A 10 10 3 9' 9 4 9 9 9 Vt 2 14 Hi 14 2 13 13Va 13V 3 VM 8Vi Vt 9 9 i vk vi 32 31 32 14 3 3 3V Va 154 2 2 1 25V 25Va 25j 5 9 Pk Vi 11 12'4 12 12V 4 6' Vi 6Vi Vi 10 ll'4 IT 1VA Vi 1 iV, ift AH 3 I'M 9 9Vi 14 21 Ji 21 'A 21 Vj 4 12'4 12V 12'A 7 6'j tVj Vt 1 9 9 9 12 12 -ii'ii than a year aR0 Jt ha? 4 1 2 2 1 4 il 4 1 4 5 7 25 25 25 12 12'A 5 5 5 3Va 5 3 split, Chairman John B. Root reported. The present dividend is $1.60 a year. Joe P.

Gills, executive vice president of Ohio Power was elected to the board of directors. At their meeting, directors elected Russell N. Thomas as1 senior vice presi- 7 53 4414 44 4414 1 7 8 6 8 3 18 17 17 3 12 12 12 1 714 7V4 7V4 V4 2 2 2 2 53A 7 5 20'A 5 7 5 20'A Sales Net (hds.) High Low Last Chg. GTI Corp 4 514 5 5 GuarMI 1.40a 13 24 24 24Va 14 Guerdon Ind 5 18 18 18 Gulf Can .40 1 17 17 17 Gulf St Land 5 4 4 4 Gulf Wind wt 29 5 4 4 HB Amer 21 20 19 20 Vt Hampsh Des 4 9 9 9 Hampt Sh .32 8 4 4 4 Vt Harvard Ind 3 7 7V4 7 Head Ski Co 1 10 10 10 HealthMo .40 4 9V4 9 9'4 Hecks A .20 5 28 27 27 Va Heinlcka Inst 12 10 10 10 HelenaRu .76 42 35 34 35 1 Higbie Mt .80 xt? 25 25 25 HiltonHot wt 5 48 47 47 2 Hofm Indust 2 3 3 3 Hollingr 1.40 6 30 304 30V4 Holly Corp 10 2 2 2 Vt HomeOA .50 14 14 16 HomeO .50 5 15 15 15 Horn Hardrt 1 23 23 23 House Fabric 2 32 32 32 Hubbell .94 2 30V4 JOV4 30V4 V4 Hubbel pf 1 .75 2 45 45 45 Huffman .40 2 12 11 12 HuntCh A .24 2 42'a 42 42 Oil .30 4 HVa HVa H'1Va Vi HuyckCp .40 4 34 34 34 Hycon Mfg 4 4 4 6 I-J-K-L Ideal Toy 3 21 21 21 IHC Inc 1 mVt 17 17 Vi IllusWId Cnc 2 15 15 1 IMC Magnet 1 7 7 7 wmmmmmmmmmmmmmmsm 30 4 13'A PIE Fights 3 30 -14 4 1314 8 4 ImocoG 1.18f 4 8 8V4 8 ImpChm -31g 1 6 6 6 4- Imp Oil 37 119 19 19 Indian Hd wt 3 7 7 7 Vt InflightP 7 10 10 10 Inland Credit 2 7 7 7 InstrSys 27 10 9 9 Int Ch Nuclr 54 44 44 44 Vi IntContA wt 3 4V. 4V4 414 IntProtein .10 5 19 19 09 IntStrtch .07 1 7 7 7 Interphoto 1 11 'A 11 14 11 'A Interstate Un 2 10 'IOV4 10 Intersystm 2 12 12 12 InvDivA 1.80 HO 33 33 33 InvDiv .45 2 8 8 8 InvFund 3 17 17 nv Roy 1 5 5 5 Iroquois Ind 25 123A I2V4 .12 ISC Ind 3 4 4 4 ITEL Corp 11 14 14 14V4 Vt ITI Corp 15 3 3 3 Jaclyn x2 5 5'A 5V4 Jameswy 2 18 I8V4 18 Vi Jeannette Gl 2 22V4 22 22 Jeff Lk Pet 1 12'A 12V4 12'A Jeffersn Strs 2 18 18 H8 Jetronic Ind 2 3 3 3 JohnsBarg St 4 8 8Va 8 Kaiser In 20 20 20 20 Kalvex 14 4 4 4 Vi Kane Miller 5 17 14 16 Kane Mill wt 2 4 4 4 Kaneb PL .70 3 19 19 19 Kauf Brd wt 8 17 17 17 Kay Jwly 1 4'A 4 4 Vi KentonCp .32 X4 22 22 22 a -i 4 v'' 30 4 13'A 8 4Va 5 20'A 10 PrudRes PrudBldg .24 PrudFnds .10 PubcoPet .15 PutnamsS .34 Pyroil Co .24 Ramer Ind Rapid Am wt Rath Pack Reading Ind RealEsM 1.32 RealtyE RltylncT RE DM Corp Reeves Ind Reeves Telee Remco Ind Rem Ar ResrchCtl .08 Reserve OG Resortslntl A Rest Asso 28 CoffMat CohuElec .15 Cole Natl .44 Colecolnd .08 Coleman .40 Coml Alllanc Comodor ComPSv 1.50 Compolnd .34 CompDes .70 CompuDyna Comput Appl Comput Eq Comput Inv Computest Comp Softw ConcrdF Condec Corp Conductron Connelly Con Con Cdn Far Con Oil Gas Cont Mater Cook Ind CookPtV 1.40 Corr Blck .44 Cosmodyne Craig Corp Creole 2.40 Crestmont Cromptn 1.40 CrowleyM .30 CwnCPet Crystal Oil Cubic Corp Cutter A .44 Cutter .44 Da itch Damon Corp DamonCr .40 Daryl Indu 8 4 43 45 31 13V4 13 13 14 Vi 10 Vi 12 10 10 4 2 2 2 7 7 1 17 17 17 Attempted Takeover 60 lO'A 10 1 14 14 12 4 4 4 4 4 10 6 4 2 9Va 9 13 .13 13 '13 42 41 36 9 8 14 9 9'A Kit Mfg Co Kleer Vu Kleinert KnottHotl .60 Kollmogn .40 Kysor LaBarge Inc Lafay Radio Lake Shore LaMaur .34 Langley Cp LaSalle Dtch Leader Int Leas Data wt LeeNatl 3.12f Leh Press .54 Leisure Tech LernerSt LernerStr wt LeslieFa Levin Town Lib Fab Liberty Leas LIIIIAnn 1.54f LlngTVgt wt LodgeSh Loews Th wt Logistics Ind LTV Aero .80 LTV Aero wt LTV Ling Alt LTV Ling wt LTVLIn pf.80 Lundy Elec 1 20 20 20 V4 7 8 7 7 8 8 dent-loans, ana wimam n.

Moock, vice-president loans. 10 1 3 14 IVh 22V4 22W 28 28 28 4 4 Vt 9'a 13 42 -V 9 Vi 10 V. 11 Vi 10 9 5 X4 18 18 18 7 22 22 22 8 33 33 33 115 19 1834 19 12 21 20 21 14 53 7V4 7 7 5 9 9 9 5 10 10 10 2 10 10 10 18 5 534 534 3 3V. 3'i 3Vi 143 13 12V4 13 1 3 19 Wt l8'4 1 5 5V 5 1 3'i 3' 3Vt 1 28 28 28 V4 5 10 10 2 714 714 714 Vi 1 7 7 7 -V4 1 4V4 4'4 4'4 Vi 1 21 21 21 3 7 7Va 7Va 11 10'A 9 6 1 wt wt 4 74 TM 7V4 Vi 7 14 14 I414 12 1034 9 5 7 18 32 RH Med Svcs RicoArg Mng Riker Maxsn Ritt Fin .34 Roblln Ind A Rockower .20 Rogers Rollins Intl 5 24 24 24 Pacific Intermountain Express (PIE) has launched a legal fight in an attempt to block International Utilities Corp. from making a tender offer for 300,000 shares of PIE 13 19 19 19 1 14 14 7 3 4 434 434 734 1 22 22 22 12 18 Wa 'A 32 32 7 8 8'a 8 V4 120 45 43V4 43 Vi 9 4 4 Vti 2 107 10 .10 Vi 3 10 10 1034 19 34'a 113A IP4 Vi 4 4 3 3 1 2 714 714 4'A 3 2 7V4 27 15 2 5 5 8 8V4 8V4 8V4 Roll Rov 34 34 2 2 5 5 SOVi 30Vi 30t 4 '4 4 4V4 30 2 2 5 10 18 3 207i 20 207i 8 8 Vi 8 Rosenau RownDrl Rowland Pd 11 11 11 18 18 2 24 25 25 V4 16 I6V4 4 1021 17 20 2 23! 2 The big Oakland, 13V4 13V4 13V4 5 734 7 4 5 8 8 8 10 M-N-OP 2 434 4 4 5 5'A 5 5 5 10 5 SVa How Accounting Aids Franchisers Royal Amer RoyBusn Rusco Indust Russeks Inc Russell A .049 RusselM .228 5 1 1 1 V4 10 quartered truck line, which has one of its major terminals 8 Vi in West Itiehfield.

filed suit in 5 5 10 1014 4 4 6 4 8 8 10 10 6 13 13 13 16 43 43 43 Vi 7 2 1 XI 3 1 2 7 7 21 21 21 Vi 19V4 1914 19V4 14 16 16 'A Sabin Roy .36 3 '19 19 19 10 14 1234 Vi 1234 1234 fJMU'Xo fV4i' 14 3i4 28V4 28 -2'A 12V4 '12V4 12'A Vi 1 29 29 29 4- Vt 14 34 33'i 337i Vi 8 8 8 34 -Vi 2 7' 7 7 3 Wt UVi Wi 47 7'4 7Vi 3 16 1654 Wm 1 28 28 128 Vi il 18 1 18 25 5 5 5 Vi 7 24'A 24 24 19 2Va 2 T2 4 8 8 8 6 3 3 3 11 5Vj SVa Vi 15 fl2, 6Va 2 10 10 10 '4 4 19 19J4 19 Vi 5 4Va 4Vi Vi 5 28 28 28 2 13 13 13 .1 51 51 SV 14 batequrd Ind StJhnTrk .90 SalemBr Carlos .17 14 14 59 103 101 Federal Court in San Francisco, charging the offer violates the 1934 Securities Excnage Act. 6 6 4 43 43 43 14 102 1 12 3 12 12 By ROBERT METZ New York Times Service Macoid Ind Macrod Chat Magna Oil Mallory Ran MamMrt Macigurian Mansf TR .50 Marinduq 40 Marlene MarleyCo .40 Marshall Ind MaulBros .20 McCror wt AAcCull Oil 2f Means FW 1 MEM Co .72 Menasco Merle Merrill Isl Mich Genl Microwave The feeling at a session of the Boston meeting was that Sanitas 3534 35 3534 16 14 14 5 5 5 Sargent Ind Vi 18 W4 I8V4 Saturn Airwy 14 8'A 7 Vt Vt 3,5 5 5 4 14 143i 14 Vt 10 434 4 434 Vt 1 5 5 5 14 17 17 17 43 433A 43 43 1 114 873A 85 84'A 1 5 4 4 4 14 14 14 33 33 SavAStop .24 73 72 73 NEW YORK The Boston International's approach College Center for Franchise this item also distorts the I8V4 14 14 14 14 Data" cont Data Documt DataProd Cp Day Min Daylln wt DC Tran A Del Labs Deltona Corp Deltown Fds DeroRsch Dv Deseret Ph Devon Appar Digital Equip Dillard Diodes Inc Dixilyn Corp DAAH Corp Dome Petrot Domtar .40 Dorsey .10 DPA Inc Drug Fair .40 Dur Test Dynalectrn Eagle Clo .25 Earth Resrcs Eason Oil Co East Air Dev Eastn Frt Eazor Exp Eckmar Cp ECL Ind 1 Ecologic Scl Edo Corp .40 Ehrench Pho 2 6 8 5 11 9 30 4 1 1'A 1414 Vi UVt Vi PIE CLAIMS the Philadelphia firm failed to disclose Viot Dull Aeronautics Board 14 14 16 14 4 4 20 10 12 12 12 Vt evi 3414 18 Vi 14'A 14V4 20 2 4Vi l34 ,12 13 12 32 32 32 9 9 '9 Vi company's results. HERE'S HOW the equip- 14'A '14 20 23A WA 12 10 1 1 9 2 5 14 9 3 4 3 Distribution brought together the top and not-so-top franchise companies, last week to X4 9V4 9 9'4 234 6 1834 Vt 7 7 18 2 ya Hldl, iv 37'4 approval was required in 15 connection with the proposed 7m 1 Durchase. E-F-G-H 'H'a Vi 31 15 15 15 'A 8 10 10 10 V4 2 30'i 30 30 1 34 36 34 Vi 2 5 5 5 Midi Co MidlMtg bavin Men Saxon Indust Sayre Fisher Scam Instru SchenuitA .40 Science Mgt Scope Indust ScottysH SbdPlywd .10 Sealecfro Cp Sec Mtg Seeman Bros Selig Latz .80 Sequoyah Ind Servisco .38 Servotronic 13 13 8 8 8 7 UVt 12 37'A 37'A 10 10 15 15 7 7Vi 7A 73A 19V4 18 7 4 11V4 IIV4 5 5 12 12 Vi 7 MldwFinl .32 7 74 Vi 140 75 74 9 Vi 9 9 38 12 11 tm 37'A 37'A 20 38 14 14 Two PIE subsidiaries hold ii'A-vi par authorizations to engage 2 3'a 3'a 3Va ,13 '13 Vi Milgo Elect MilgoElec wl MillrWohl .30 MlllOnyx Mllo Elec 5 5 5 20'4 20 W4 Vi 514 Vi 17 tWt 5'4 53A Vt 5 8 Alaska Airl -AlbaWald .24 All Am Eng Allegh Airl Alleq Airl wt AHegCorp wt Allen El Allian Allied Art Allison Stl .40 AlloyUnl JOt AlrightAu .54 Alpha Indust AltamllCp .20 Amco Indust Ameco Inc A BkStra A CentAA Am FlnA 1.10 A Israeli A MaizeA .33 A MaizeB .33 Am Med .12 Am Mot Inns Am Petr A RltyTr AmTech Ames DS AMK wt AmpcoMt .60 Amrep Corp Anderson .36 vjAndy Gard Angelica .16 Anglo Lautro Anthony Ind AO Indust Apollo Indust Applied Dala Applied Dev Aquitain Cda Argus Inc ArkLGas 1.70 Arrow Elect Arundel Corp Arwood .40 Asamera Oil ASPRO AssdMtg .809 AssdProd .40 Astrex Inc Astrodata Atco Chem Athlona Ind Atlas 2.05a Augat Auto Bldg Auto Data Pr Automat Rad AVC Corp .50 Avco Corp wt Avemco CP Avien Inc BACM Indust BagdCop Baker Ind .24 Banff Oil Banister Cntl BankUtil BarbLynn .32 BarryWrt .30 Bartell Med Bartons Cdy Baruch Post Beck Ind Bell Electrn BergBrun .24 Bertea Corp Beth CP 30r Beverly Ent Big Apple Bishop Ind Bloomf Bldg Bluebird Inc Botany Ind Bowmar Inst Bow Vail .10 Branch In .50 Brandywjn 1 BrnfAirA BrascanLt la Breeze Brody St BrwnFA BrwnFB BTB Corp BTU Eng Buehler Cp Buelllnd Burr JP ButtesGs Oil Byers Cablecom Gn Caldor Calcomp Campbl Chib CampbM .30 CdnExp discuss mutual problems amid ment leasing approach the chill winds of adversity worked for a typical small In- that have swirled about fran- ternational subsidiary. chising since industry ac- International buys equip- counting methods have come ment costing $10,000 and leas- under attack.

es it to the franchisee for a The small companies were 15-year period at a fee of $300 none too happy with a new a month. 0 25 25 25 9 4 4 9 12 12 12 Va 'iSa0 tut' 13 17 4 29 2414 'a 6 27 27 27 3A 28 29 '13 18 18 18 14 15 15 15'i 5 9Va 9Va 9Va 19 20 26'A 24'A Vi 25 20 9 1 1234 MM 12 8 49 38 37 38 7 Wt MVi Vi in domestic and international air freight forwarding operations. International has offered to nnrohase ud to 300,000 shares 3 17 W4 17 12 12 Milton Roy MoBeef Pkrs Mite Corp Mobile Home Mohawk Airl Molybd 1.94f Moog Inc 8 2 73A 8'i 734 9 234 734 evi 14 734 1 14 14 14 Vi 8 Vi 8 8 A 5 53A 23A 7 8 7 534 8 8 1'5 38 38 Elco Corp Elcor Chem Elect Assist 4Vt 4 8 6 8 3 7 7 534 534 SheffWat Siboney Corp Sifco Ind Sigmalns Signet Cp .60 SimcoStrs .20 SkaggDrg .40 Sky City Strs SlickCorp .32 Slick pfA 1.75 SMD Ind .17 Solitron .22 6 8 8 10 5 38 7 14 12 8 9 1434 'A 5'A Vt Morse El Pd 24 nn rt r.Unn Kiit cairl ira 24 24'A 9'A 9'A 9 9 8 MortonSh .32 15 15 15 12 17 16 9'A al fll.JU a auoic uu. I intention is to acquire 51 pet. MottsSMk .14 5V 5'A 5Vi 14 9'4 9'4 Vi 1 3t 3Va 3Vi 2 J0 20Va 20'Va 1 27 27 27Va 2 24 24 24 2 9 9 9 5 7 7 7 Vi 21 19 19 19 Vi 4 Vt 7 7 7 12 15 12 Vi 5 5 4 34 353A Mouldings 14'a 14 12 11 Vt 8 9 9 1434 1434 514 5V4 14 14 3 3 14 14 '15 Over the 180 months, then, the lease agreement will produce revenues of $54,000, or $44,000 net.

UNDER THE accounting 73A 73A recommendation by accountants that they limit gross income for franchise fees to the amount of cash received or to some other equally conservative basis. This was lo overcome a 4Vi 4Vi 4 1 73A 9 31 '2 9 Soundesign l6Va 24 31 9 24 20 22 31 9 Vi 24 20 22 Vi 3 Vt Org pfl.40 IlfJO of the trucker's stock, rib earlier urged stockholders to reject the offer. Meanwhile the Philadelphia SC 5.80Df 1.45 4 20 Elect Comp Electron Cng Empire Finl Entron Inc EpkoSh EquityCp Equit Fd ErnstEC Esgro Inc Esq Rad El Essex Chem Executon .24 Cxlendcare Fab Indust Fabien Fabrics Natl FairNob FamRecd .40 4 4 Vi 8 8 130 Sl'A 49 51'A lVa 2 5 5 5 2 14 14 14 Vi 3 14 14'A 14V4 Vi 1 414 414 4V4 30 14 13 13V4 1 15 29 29 29 'A 3 10 10 '10 5 23 14 9 8 9'i 4 4 rule used by International 18 8 6 1 4 4 4 43A 8 4V4 434 8'A 2 82 44 44 44 11 22 22 22 holding company said it will Mov Star .50 Movielab MultiAm Muter Co Napco Ind Nat Alfalfa Nat Bellas Mat Gen wt NatHlth Enf Nat Ind Wt Nat Radio Co Realty .80 Nat Systemo NBO Ind Needham .20 NestleLe SI 15 1'5 15 4 8 2 4 17 8 3 12 12 12 3 14 14 14 vi proceed with its program as X2 23 23 234! Vi 7 5 434 7 7 11 7 7 5 1 7 7 7Va 14 14 1034 16'A SS scheduled, noting that the til 7 534 40 xio 2 5 1 1 1 1 2 10 12 48 4 38 2 3 29 5 10 6 1 7 5 6 4 2 14 4 4 1 29 widely recognized abuse by and accepted by the American which franchise companies Institute of Certified Public would sell units and immedi- Accountants -a bit less than ately declare as ir.come the half the net is considered in-full franchise fee though terest and the remainder is SVt 2 7 7 7 Vi 1 4 3 13 13'A SC 5.20pf 1.30 Sou It SouRoy 1.20b Sw For Ind Swn Inv .70 Specify Rest SpeedOP .21 1 Spencer Shoe Std Containr StdMefal StdMot A .75 Std Pac Corp Std Thomson Stanrock Ur Stanwick Cp Stardust Star Smkt .40 4 4 4 1(7 27 27 4 9 5'A Vi 4'A 8 2 Vt 4 14 Vi 13 Vt 4 12 4 12 9 2 7'A 4 7 7 ing of the complaint in no way bars it from continuing to accept tenders. 5 2fl 20V4 2OV4 18 SV4 5 5 1 9 9 9 4Va 14'A 9 53A 22 934 13 2 3 7 9Va 7 5 4 4 7'4 4 15 14 14 5Va 4 6 74 4 4 Fanny Fed Resrces Federals Inc FedMart Felmont Oil Felsway .32 Fibrebord wt Field Plastic 12 43A 12 lfl'A 3 7'A 57 30 5 12 4 12 9 2 7 54 30 5 4 10V4 10V4 10iA A 18 28 28 28 Vi 22 934 13 Ml 2 3 7 9 22 Vt 13 Eng Nuclr HampB .40 Newldria Mn NewPark Mn Proc 1.25e NYTimes 4 9V4 5 22 934 13 2 3 7 9 22 13 63A 934 5 14 74 4 20 9 10 10 10 'A 13 20V4 20 57 1 1 10 10 10 30 19 9 Net Earnings 1 27- 27 27 V4 8 11 11 11 'A 1 14 14 14 5 steelmet Inc 8 riftrtrn 8 8 only a 10 pet. down payment may have beon made and openings may net have been scheduled for several years.

SOME OF the. bigger franchise companies have moved to more conscivative ap- picfit. The interest is taken into revenues at a rate of l-15th a yt'ar. However, the profits in this case $24,000 can be declared in the first year. This can help earnings quite Filmway FiltrDyn FinSanBa .20 FinlGeni tf ritMMIK KNfilNE a 16 22 6 13 3 634 2 9 27 5 1 14 'A 1 IB'A 18 18 4 9 9 9 23 14 14 411V.

1 10 10 10 ji iL nnarUr (5.8 milloln or 95 centa 15V4 15V4 15V4 21 21 21 Isterl Extr .24 2234 22 22 14 1 SterPrec 2714 27'A 27'A 14! Stern Met .25 4 2 NigFrS NMS Indust Nortek Inc No AMIg 85e MoAmSug .80 Nor Cdn Oils Noeast Airiin NlnPS 0f4.25 i I vm mn A nil I- 15 1434 15 Fsf Conn 1 J3. til. 43. J- 1.. 14 11 4 4 4'A i 1-14 8 4 2 1 25V4 2514 2514 Vi E'VT," 1 9 5Oi 7.

4- 4 Kl Wt 4 2 3 4 5 5 See COMPLETE, Page E-U iFischPrt 3 19 19 193A 57 58 nc 1 Lid- Va V. 3.4 million or SI renin. DOW JONES for quarter 14 million or centa va. 15.1 million or 87 centa. ELI LILLY ft for quarter 7 million or 87 centa v.

27. million or centa. G. W. MURPHY INDUSTRIES, 12 23 23 23Va 4 4 7 13 13 13 3 2234 223A 22 4 MA 14 1 Metal Market Nowst Ind wt Novo Cp .80 Nuclear Am Nuclear Data Nytronics 4 'A FU Capital 4V4 4 1534 3 34'A 2 9 8'4 11 13 12A 13 proaches without destroying a bit in a company with a their earnings.

number of subsidiaries that However, these companies offer equipment leases to 12 12 12 14 Z50 58 4 4A 1 1534 5 3 19 35 10 7Va 1 37 4 223A 4 19 Z100 111 3 4 1534 3'a 34'A 7 37'a 223A 19 Pittshui eh-'or 1 weeks or as centa 7 'a NFTW YORK (API IF IV- 21 'A 21 21 14 37 Va rtol 1 mtnturl I VS. Hi IVi.llllO Of 9 CCHth Ohio Brass 2 OKCCorp .80 2 20 20 20 Vi Thursday by 'iron Age at PKNN-DIXIE CEMENT, for yr 19 nn $4.5 ml ton or $1.60 t. 4.1 mil- have operating earnings a iranchisees. The larger sub- 20 46Va 453A 4534 Va una ind Ookiep 4.19e Originala .30 34 lVa 111 111 lV4i SDOt nonlerrous metal nrlcesl Uon or 81.51. 1 4 4 4 Vi 13 15 15 1534 1 9 9 9 Vi 7 10 10 10 1 IVj 17 17 13 25 25 25 20 14 14 14 3 10 10 V4 20 4 4 4 20 7 7'A 7V4 well as franchise fees to fall 75 373A 34 21 9V4 9 9 14 6 sidiaries, such as International House of Pancakes, take to 8 3-14 7 8 7 11-16 Flowers In A Foodrama .30 Forest Cit .25 ForestLb Four Seasons FranklMt .10 Frankir FrenchP Can Frcsnillo Gearhart .24 GCA Corp Friend Frost Front Air wt GayldNat .30 Gabriel Gen Alloys Gen Battery Gen Interior 6 19 19 19 14 4 12'A 12 12 Vt 6 Thursday: copper 6O-6OV4 cents al RELIANCE I 8 pound, Connecticut Valley; lead 16Va quarter fM.tM or 2K cent v.

I514 cents a pound. New York; zinc 15 8.20 or 45 cents. 5 VilcenU a pound. East St. Louis; tinl RIEGEL TEXTILE for IS 3V4 i $1.81 a pound, New York; gold HMri.MW or cents vs.

1A Rn nr.r trnv sinncs Nur Vork tAVflflA or A cents. 8 8 15V4 15 5 5 33A 33A 33A 33A 16 16 14 can fandoil Cdn Homestd fB 15-14 8 13-14 8 15-16 OSullivan .50 OxfdFst 1.07t Ozark Airline Indust Pac Cst Prop PGE 4pf 1.50 PGE pf 1.37 PGE 5pf 1.25 PG rdpf 1.25 PacHold 5 3 514 5 3 3 1 21 21 -I- i silver 1 H7S nor frnv nunrK N1V UNION COMMERCE BANK- 1134 12 5 195 1 3 3 1 4 12 back on. The small comapny may not. BUT WHILE International Industries- took some credit for leading a shift to a more conservative approach, not everyone was satisfied that 1 18 18 18 'AiYork; quicksilver 1475.00 per flask, for quarter 2.B million 16 I6V4 I6V4 New York. ar 1.77 Ti.

81.5 million or $1.06. IOI4 9 profits at least $60,000 0 each equipment lease signed as of the date the store opens. LAPIN, contacted at his office in California, said: "We have reviewed the 9 Vt CdnHydrO 20 4 13 13 13 Cdnlnt 1.80 3 27 27 27 Cdn Javelin 19 15 143A A Cdn Marconi 2 4V4 4V4 4 Cdn Sup Oil 15 293A 2934 2934 Canaven 11 71A 7 7 4 4 4 4 lo'a )6'a 6 Vt 16 14V4 14 7 24 24 Pac Indus 4 4 4 11 8 14 8 8 PacLt pM.75 Z100 62'A 62'A Career Acad 49 1.1 13 13V4 Va 9 Vi 9 X10 10 GateSpGd .20 PacNwTel 1 7 7 4 714 2 15'A 15'A 867-5064 37V4 34 37'A Vt 24 4 62'A 14 15'A 13 10'A 30 1 15'A A 7'A CALL US ABOUT 4 4 4 9 13'A 13 1 10'A 10'A 24 3034 29'A 7 15 15'A the company had done equipment leasing matter enough, even though it? earn- with our accountants and we 10 2434 23 2434 1 14 4 4Va 4 Caressa Inc 3 11 11 11 Gen Plywood Carnatn 1.60 20 110 109 110 A Genge Ind CaroPipe .72 3 15 15 15 jGenisco Tech Castleton Ind 14 4 4V4 4Va Ins CBK Agron 15 3Va 3 3'' GF Indust Cellu Craft 2 9 9 Giant Yel .40 CenMe 210 44 44 44Va 1 GilbrtCo CentSec 2.15e 1 19 19 19 'A Gilbert Flexi Sec pf CI .25 1200 38 38 38 Gladding 8 834 8 8 14 15 7 7 ings were trimmed from $1.51 feel that we are taking the QUALITY HEALTH INSURANCE mmmmmmmwmmmmmmmtmtmmwmmmmmwmmmmmmmmmjmmm INCOME PROTECTION HOSPITAL-SURGICAL MAJOR MEDICAL 2 4 4 43A Vi 22 22 1 33 10 22 22 22V4 22 14 1334 914 Vt 914 9'A 7 3 3 3 38'A 38 7 7 7'i century Geo 444 Glasrock Prd 1 10'A 10 1034 Vt 4 7 7 JUjGlenGer fXnlHhlatt 1 Vi 8A 8'A 8V4 4 75 15 1 27 1 7 PEOPLES FEDERAL HOME OFFICtl: WOOSTM AKRON Main Market Park Ele Park Ian Hos ParvDoh Pat PPap .36 Pato Cons Peab Gat Peel Elder Pentron El PEPI Inc Perm8neer Petrie Sir .45 PhllLgDis .91 PhillipScr .20 Phoenix Stl Piaseckl Aire Pickwick Infl Pioneer Plas PionerSy Pittwav PitWVTr .54 PK1 Co Group 14 27 18 20 14'A 13 IJ-w 5 9'A 9 9 1 not 10 119 VjjGoodway 3 10 2 21 183i. 13 13'al 3 6 4 6 I6V4 16'A 14'A a share to 94 cents. Al La pin the bead of International Industries often described as a franchising conglomerate did not say anything about the income International derives from equipment leasing agree- 13'A 3 38 14 34 27 'A 7 Vi 18 'A 6'A 5V4 14 42 18 10 4034 7 14 7 15'A correct approach to this question under the rules." This approach to leasing is used in several industries, particularly in computer leasing and in allied fields.

Telex for example, uses the same accounting method in leasing coirSiuter drives. H. A. SIEGENTHALER 1795 WEST MARKET STREET AKRON, OHIO 44313 Certified Cp Certron Corp ChadMill ChampHo .14 Chelsea .24 Cherry Burr Christian Oil Cinerama f.icrle .40 C'ircuitF 1.59T Clarkson Ind Clary Corn CMI orp Cobm .30 6 5 16 105 4034 1 13 13 13 Vt 10 3 3 3 13 4 4'4 414 5 11 11 11 Gould wt GranMgt Grass Val Gr Gt Am Ind Gt Bnsn Pet GtLak Chem Greenman Greyh 6 5'4 42 18 10 40'i 7 15 17 9 9 9Ve 4- Vi 2 2734 27Va 27Va 13 14 1334 14 339 6 6 6 Yf 6 25Va 25Va 25Va A 5 50 50 50 Vi 3 17 17 17-Mi 1 4 Wi 63A J2 24 24'A 24 5 5'4 5 5 DIAL 533-1505 1 1 20 20 20 Vt 7 11 10 10 'A 5 5'A 5 GHWiiHn 4 3 334 3 JSC Kftterpr.