The Akron Beacon Journal from Akron, Ohio on April 9, 1970 · Page 17
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The Akron Beacon Journal from Akron, Ohio · Page 17

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Akron, Ohio
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Thursday, April 9, 1970
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Page 17
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r AKRON BEACON JOURNAL 1 10 and FilTDS)fi)S y Thursday, April 9, 1970 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. Fishwick President Of N&W 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 N&W 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 N&W-C&O merger and the formation of Dereco, an N&W subsidiary, that is one of the keys to the merger plan. A NATIVE of Roanoke where the N&W 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 N&W since 1968, was named to the newly created post of executive vice president Claytor joined N&W's law department in 1951 and moved up to vice president-law in 1964. y kssM&mtt I: ' -. t 41 . y i Parvin Proposing Change Of Name 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 c Off The Ticker 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 Co., 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 Inc., which has a 74 pet. controlling interest in Wilson Sporting Goods Co., 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. l .--.-- c-.'xtr- 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 established. 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. been selling as high as $111.50 a share. Coleman acquired working control by buying 300,000 shares at $35 apiece in late 1968. Complete Late American Stock Prices Acme Hamll Acma Prec Adams Russl Admiral nll Asrodex Inc AeroFlow .30 Aerolnt .50 Aeronca .200 AerosolT .Sit Arovox Cp AIC Photo Aileen Inc AIM Cos Airlift Intl A lax Ma .10 Alaska Airl -AlbaWald .24 All Am Eng Allegh Airl Alleq Airl wt AHegCorp wt Allen El .76f Allian T .26e Allied Art Allison Stl .40 AlloyUnl JOt AlrightAu .54 Alpha Indust AltamllCp .20 Amco Indust Ameco Inc A BkStra ,36t A CentAA .35e Am FlnA 1.10 A Israeli ,18a A MaizeA .33 A MaizeB .33 Am Med .12 Am Mot Inns Am Petr .8sg A RltyTr .33a AmTech .05e Ames DS .lOr 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 .50b AssdMtg .809 AssdProd .40 Astrex Inc Astrodata Atco Chem Athlona Ind Atlas M 2.05a Augat .05e Auto Bldg Auto Data Pr Automat Rad AVC Corp .50 Avco Corp wt Avemco CP Avien Inc BACM Indust BagdCop ,40a Baker Ind .24 Banff Oil Banister Cntl BankUtil .09h 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 .3c;f BrascanLt la Breeze Brody St ,04p BrwnFA .40b BrwnFB .40b BTB Corp BTU Eng ,2a Buehler Cp Buelllnd ,IOd Burr JP .05g ButtesGs Oil Byers .30a Cablecom Gn Caldor .94f Calcomp Campbl Chib CampbM .30 CdnExp G&O can fandoil A-B-CI) Sain Net (lids.) High Low List Chg. 1 5'A 5V 5 V 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 t 9 9 V i m m vk vi 32 31 32 14 3 3 3V Va 154 2 m 2 ' 1 25V 25Va 25j 5 9 m Pk Vi 11 12'4 12 12V 4 6' Vi 6Vi Vi 10 ll'4 IT 1VA Vi 1 iV, ift AH W 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 14 IVh 22V4 22W 3 19 Wt l8'4 1 3'i 3' 3Vt ' 1 7 7 7 -V4 1 4V4 4'4 4'4 Vi 1 wt m wt ' 4 74 TM 7V4 Vi 13 19 19 19 1 W 14 14 9 4 4 Vti 2 107 10 .10 Vi 3 10 10 1034 ,Vt S SOVi 30Vi 30t 3 207i 20 207i 14 34 33'i 337i Vi 8 8 8 34 -Vi 2 7' 7 7 V 3 Wt UVi Wi 47 7'4 7Vi ?i 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 S 5Vj SVa Vi 15 fl2, 6Va ... 2 10 10 10 '4 4 19 19J4 19 Vi 5 4Va m 4Vi Vi 5 28 28 28 2 13 13 13 ... .1 51 51 SV X4 9V4 9 9'4 31 15 15 15 'A 8 10 10 10 V4 2 30'i 30 30 1 34 36 34 Vi 2 5 5 5 38 12 11 tm ! 2 3'a 3'a 3Va S 20'4 20 W4 Vi 0 25 25 25 6 27 27 27 3A 5 9Va 9Va 9Va 49 38 37 38 7 Wt W MVi Vi 1 14 14 14 Vi J 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 3 10 10 '10 18 8 6 1 4 4 4 SI 15 1'5 15 17 8 X2 23 23 234! Vi 1 7 7 7Va 2 7 ' 7 7 Vi 1(7 2? 27 27 7 5 4 4 7'4 4 Salts Nat (hds.) High Law Last Chg. 7 5Va 4 6 74 4 13 20V4 20 19 9 7 S"a 4Va 4 V 74 4 20 9 1 27- 27 27 V4 4 9 9 9 23 14 14 411V. 1 10 10 10 . 1 J3. til. 43. J- 1.. 1 25V4 2514 2514 Vi E'VT," 1 . 9 5Oi 7. 4- 4 r?t N Kl Wt Va CoffMat .15a CohuElec .15 Cole Natl .44 Colecolnd .08 Coleman .40 Coml Alllanc Comodor ,02a ComPSv 1.50 Compolnd .34 CompDes .70 CompuDyna Comput Appl Comput Eq Comput Inv Computest Comp Softw ConcrdF .10a 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 P 2.40 Crestmont Cromptn 1.40 CrowleyM .30 CwnCPet .70f Crystal Oil Cubic Corp Cutter A .44 Cutter B .44 Da itch .20e Damon Corp DamonCr .40 Daryl Indu Data" cont Data Documt DataProd Cp Day Min .15g Daylln wt DC Tran A Del Labs Deltona Corp Deltown Fds DeroRsch Dv Deseret Ph Devon Appar Digital Equip Dillard .20e Diodes Inc Dixilyn Corp DAAH Corp Dome Petrot Domtar .40 Dorsey .10 DPA Inc Drug Fair .40 Dur Test ,25b Dynalectrn Eagle Clo .25 Earth Resrcs Eason Oil Co East Air Dev Eastn Frt W Eazor Exp Eckmar Cp . ECL Ind 1 ' Ecologic Scl Edo Corp .40 Ehrench Pho Elco Corp Elcor Chem Elect Assist Elect Comp Electron Cng Empire Finl Entron Inc EpkoSh ,80a EquityCp .30t Equit Fd .10r ErnstEC ,20t Esgro Inc Esq Rad El Essex Chem Executon .24 Cxlendcare Fab Indust Fabien .40b Fabrics Natl FairNob .04p FamRecd .40 Fanny F .25e Fed Resrces Federals Inc FedMart .40b Felmont Oil Felsway .32 Fibrebord wt Field Plastic Filmway .20d FiltrDyn .01g FinSanBa .20 FinlGeni .24b Fsf Conn .B0 IS 15 21 110 10 14 14 15 no 14 Vi 9 5 4 7 9V4 9 Vi 5 - 5 7 9 2 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 4 15 15 15 Va 9 5 5 7 9 7 25 25 25 ' 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 31 13V4 13 13 4 2 2 2 7 7 1 17 17 17 1 20 20 20 V4 7 7 8 8 28 5 10 1 3 1 28 5 7 8 28 5V 1 28 28 28 V4 2 714 714 714 Vi 1 21 21 21 3 7 7Va 7Va 7 14 14 I414 5 24 24 24 1 22 22 22 7 . 8 8'a 8 V4 120 45 , 43V4 43 Vi 8V4 4V4 8 8V4 4 2 24 1021 17 10 8V4 4 '4 8 8 Vi 25 25 V4 16 I6V4 4 13V4 13V4 13V4 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 M 14 14 16 HomeO B .50 5 15 15 15 Horn Hardrt 1 23 23 23 House Fabric 2 32 32 32 Hubbell B .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 Uusk,, 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 8 8 8 5 ' 1 1 1 V4 6 13 13 13 ' 16 43 43 43 Vi 2 7 7 3 '19 19 19 14 3i4 28V4 28 -2'A .17 14 14 59 103 101 3 12 12 5 5 18 W4 I8V4 14 14 14 72 73 2 6 8 5 11 9 30 4 1 18 14 102 1 12 5 Vi 73 14 14 14 14 14 14 16 14 4 4 32 32 32 - 9 9 '9 Vi Vt 7 ' 7 E-F-G-H 8 8 7 9 7 9 8 7 9 Vi 14 W 14 5 5 5 5'4 9 5 8 514 Vi 9 Sales Net (hds.) High Law Last Chg. ImocoG 1.18f 4 8 8V4 8 ImpChm -31g 1 6 6 6 4- Imp Oil ,50a 37 119 19 19 Indian Hd wt 3 7 7 7 Vt InflightP .33f 7 10 10 10 Inland Credit , 2 7 7 7 InstrSys .75f 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 B .45 2 8 8 8 InvFund .40b 3 i!7 17 17 nv Roy .14a 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 .10e x2 5 5'A 5V4 Jameswy .38f 2 18 I8V4 18 Vi Jeannette Gl 2 22V4 22 22 V 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 .38t 20 20 20 20 Kalvex .25t 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 c ? a -i .; v v 4 w v'' M How Accounting Aids Franchisers By ROBERT METZ New York Times Service The feeling at a session of the Boston meeting was that NEW YORK The Boston International's approach t o College Center for Franchise this item also distorts the Distribution brought together the top and not-so-top franchise companies, last week to '13 18 18 18 14 25 20 19 20 1 1234 MM 12 3 17 W4 17 8 8 8 A 8 6 8 9 8 4Vt 4 6 8 8 Vi 8 9 15 15 15 5 '15 4 5 14 14 4Vi 4Vi company's results. HERE'S HOW the equip- 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. Sales (hds.) High Lew Kewane .90b 1 23 23 Key Co 1 . 6 Kilembe J5g 2 7 Kin Ark Corp 3V4 Kingsford .28 2 10 KingsLaf 1.44 H 30 KlnnypfC .05 X107 .10 Net Last Chg. Klrby Ind .35 Kit Mfg Co Kleer Vu Kleinert KnottHotl .60 Kollmogn .40 Kysor n .40a 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 .30e LernerStr wt LeslieFa .40b Levin Town Lib Fab .50t Liberty Leas LIIIIAnn 1.54f LlngTVgt wt LodgeSh .05g Loews Th wt Logistics Ind LTV Aero .80 LTV Aero wt LTV Ling Alt LTV Ling wt LTVLIn pf.80 Lundy Elec 1 4 t 1 2 2 1 4 il 4 1 4 5 43 45 4 7 3V4 10 30 .10 23 6 7 3iA 10 30 Vi 10'4 21 21 21 Vi 13i4 13 13V4 V4 ProlerSt 4 4 4 33 33 3314 14 14 14 - 28 27 27 18 18 H8 5 5 534 14 14 H4 3 30 -14 4 1314 8 4 10 Vi 3 30 4 13'A 8 4 3Va 30 4 13'A 8 4Va 12 10 10 X4 18 18 18 7 22 22 22 H 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 4 434 434 113A IP4 Vi 4 4 3 3 1 2 714 714 11 130 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 12 12 12 7 7 5 4 7 7 534 4 7 7 - SVt 4 5 1 4 3 5 2fl 20V4 2OV4 18 SV4 5 5 1 9 9 9 4 15 14 14 4 10V4 10V4 10iA A 18 28 28 28 Vi 10 10 10 'A 1 10 10 10 8 11 11 11 'A 1 14 14 14 11 'A 15V4 15V4 15V4 15 1434 15 iFischPrt .43f nc 1 ). Lid- 7 13 13 13 ... nE"' ' t 4 ?3i MA 14 1 L ?."' FU Capital Flowers In A Foodrama .30 Forest Cit .25 ForestLb .37f Four Seasons FranklMt .10 Frankir .I4e FrenchP Can Frcsnillo .10e Gearhart .24 GCA Corp Friend Frost Front Air wt GayldNat .30 Gabriel .69f Gen Alloys Gen Battery Gen Interior GateSpGd .20 2 9 8'4 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 Cdn Homestd fB 15-14 8 13-14 8 15-16 CdnHydrO 20 4 13 13 13 Cdnlnt P 1.80 3 27 27 27 Cdn Javelin 19 15 143A K A Cdn Marconi 2 4V4 4V4 4 Cdn Sup Oil 15 293A 2934 2934 Canaven .Ml 11 71A 7 7 Career Acad 49 1.1 13 13V4 Va 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 ;GerberSc Ins CBK Agron 15 3Va 3 3'' GF Indust Cellu Craft 2 9 9 V ; Giant Yel .40 CenMe p)3.50 210 44 44 44Va 1 GilbrtCo .10b CentSec 2.15e 1 19 19 19 'A Gilbert Flexi C Sec pf CI .25 1200 38 38 38 j Gladding century Geo 444 ... Glasrock Prd 4 7 7 JUjGlenGer .50a 20 14'A 13 IJ-w 5 9'A 9 9 1 not 10 119 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 1 IB'A 18 18 4 2 4 4 4 2 2"a 3 19 19 193A 12 23 23 23Va 3 2234 223A 22 4V4 4 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 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 .even though terest and the remainder is Over the 180 months, then, the lease agreement will produce revenues of $54,000, or $44,000 net. UNDER THE accounting rule used by International 4 2 4 'A 11 13 12A 13 12 12 21 'A 21 12 - 14 21 14 2 20 20 20 Vi 20 46Va 453A 4534 Va 75 373A 34 21 9V4 9 7 8 7 11-16 6 19 19 19 14 4 12'A 12 12 Vt 16 16 14 514 5 3 3 12 IOI4 9 4 4 5 195 1 3 3 1 4 11 34 lVa 9 14 8 3-14 5 3 1134 12 9 Vt 4 16 14V4 14 8 X10 10 4 714 8 9 7 8 14 9 Vi 7 37V4 34 37'A Vt 4 4 4 10 2434 23 2434 1 14 4 4Va 4 8 834 8 8 14 2 4 4 43A Vi 10 22 22 22V4 Certified Cp Certron Corp ChadMill .05e ChampHo .14 Chelsea .24 Cherry Burr Christian Oil Cinerama f.icrle K .40 C'ircuitF 1.59T Clarkson Ind Clary Corn CMI orp Cobm .30 914 7'i 9'A 7 914 Vt 7 ' fXnlHhlatt 1 VjjGoodway Gould wt GranMgt ,76f Grass Val Gr Gt Am Ind Gt Bnsn Pet GtLak Chem Greenman Greyh C .20g GHWiiHn .25t JSC Kftterpr 1 10'A 10 1034 Vt 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. v 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 proaches without destroying a bit in a company with a their earnings. number of subsidiaries that However, these companies offer equipment leases to have operating earnings a s iranchisees. The larger sub- well as franchise fees to fall 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 the company had done equipment leasing matter enough, even though it? earn- with our accountants and we ings were trimmed from $1.51 feel that we are taking the sidiaries, such as International House of Pancakes, take to profits at least $60,000 f 0 r each equipment lease signed as of the date the store opens. LAPIN, contacted at his office in California, said: "We have reviewed the Macoid Ind Macrod Chat Magna Oil Mallory Ran MamMrt .28b Macigurian Mansf TR .50 Marinduq 40 Marlene .05p MarleyCo .40 Marshall Ind MaulBros .20 ' McCror wt n AAcCull Oil 2f Means FW 1 MEM Co .72 Menasco .73f Merle N .10e Merrill Isl . Mich Genl Microwave Midi Co M MidlMtg .25e MldwFinl .32 Milgo Elect MilgoElec wl MillrWohl .30 MlllOnyx .44f Mllo Elec Milton Roy MoBeef Pkrs Mite Corp Mobile Home Mohawk Airl Molybd 1.94f Moog Inc Morse El Pd MortonSh .32 MottsSMk .14 Mouldings Mov Star .50 Movielab MultiAm .7Qf Muter Co Napco Ind Nat Alfalfa Nat Bellas H Mat Gen wt n NatHlth Enf Nat Ind Wt Nat Radio Co N Realty .80 Nat Systemo NBO Ind Needham .20 NestleLe .20b N Eng Nuclr N HampB .40 Newldria Mn NewPark Mn N Proc 1.25e NYTimes .40a NigFrS .07p NMS Indust Nortek Inc No AMIg 85e MoAmSug .80 Nor Cdn Oils Noeast Airiin NlnPS 0f4.25 Nowst Ind wt Novo Cp .80 Nuclear Am Nuclear Data Nytronics Ohio Brass 2 OKCCorp .80 una ind Ookiep 4.19e Originala .30 OSullivan .50 OxfdFst 1.07t Ozark Airline P&F Indust Pac Cst Prop PGE 4pf 1.50 PGE pf 1.37 PGE 5pf 1.25 PG rdpf 1.25 PacHold .40b Pac Indus 12 4'A 3 2 7V4 11 11 M-N-OP 2 434 4 4 5 5'A 5 5 5 10 5 SVa 27 15 2 5 5 8 4 5 5 5 21 21 21 Vi 19V4 1914 19V4 14 16 16 - 'A 12V4 '12V4 12'A Vi 6 6 4 43 43 43 14 3534 35 3534 16 14 14 evi 3414 18 Vi 14'A 14V4 20 2 4Vi l34 ,12 13 12 I8V4 14'A '14 20 23A WA 12 10 1 1 9 2 5 14 9 3 4 3 140 75 74 20 38 13 17 4 29 2414 'a 12 12 5 53A 1'5 38 38 3 7 7 14'a 14 12 11 Vt S 8 9 9 1434 1434 514 5V4 14 14 3 3 43A 8 4V4 434 8'A 2 434 33 33 8A 8'A 8V4 Vi 13 13'al 3 - 6 4 6 I6V4 16'A 14'A 4 3 10 2 1 13 13 13 Vt 10 3 3 3 ... 13 4 4'4 414 5 11 11 11 1 20 20 20 Vt 10 10 'A 5 5'A . 4 3 334 3 11 5 a share to 94 cents. Al La pin Jr., the bead of International Industries often described as a franchising conglomerate did not say anything about the income International derives from equipment leasing agree- 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 Corp., for example, uses the same accounting method in leasing coirSiuter drives. 40 xio 2 5 1 1 1 1 2 10 " 12 48 4 38 2 3 29 5 10 6 1 t 7 5 6 4 2 14 4 4 1 29 3 4 Z50 58 4 4A 1 1534 5 3 19 35 10 7Va 1 37 4 223A 4 19 Z100 111 3 4 1'A 1414 Vi UVt Vi 20 234 6 1834 'H'a Vi 13 13 12 12 Vi 74 Vi 37'A 37'A - ,13 '13 Vi 17 tWt 4 4 28 29 26'A 24'A Vi 8 10 5 .... 38 7 14 12 8 9 ..... 1434 'A 5'A Vt l6Va 8 Polarad El Poloron .88t Polychr .6flt Polymer .lit Potter Inst Pratt Lamb 1 PrentHall .48 PresRItB .80 ,50e PrudRes .30p PrudBldg .24 PrudFnds .10 PubcoPet .15 PutnamsS .34 Pyroil Co .24 Ramer Ind Rapid Am wt Rath Pack Reading Ind RealEsM 1.32 RealtyE ,25a RltylncT .30e RE DM Corp Reeves Ind Reeves Telee Remco Ind Rem Ar ,80a ResrchCtl .08 Reserve OG Resortslntl A Rest Asso 28 RH Med Svcs RicoArg Mng Riker Maxsn Ritt Fin B .34 Roblln Ind A Rockower .20 Rogers !1.23f Rollins Intl Roll Rov .24a Rosenau ,05p RownDrl .07e Rowland Pd Royal Amer RoyBusn .05e Rusco Indust Russeks Inc Russell A .049 RusselM .228 Sabin Roy .36 batequrd Ind StJhnTrk .90 SalemBr .log S Carlos .15e Sanitas .03h Sargent Ind Saturn Airwy SavAStop .24 bavin B Men Saxon Indust Sayre Fisher Scam Instru SchenuitA .40 Science Mgt Scope Indust ScottysH ,10g SbdPlywd .10 Sealecfro Cp Sec Mtg ,19e Seeman Bros Selig Latz .80 Sequoyah Ind Servisco .38 Servotronic SheffWat .12r Siboney Corp Sifco Ind ,16e Sigmalns .50t Signet Cp .60 SimcoStrs .20 SkaggDrg .40 Sky City Strs SlickCorp .32 Slick pfA 1.75 SMD Ind .17 Solitron .22 Soundesign 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- saies Net prietary Funds Ltd. for $90 a (hds.) High Lew Last chg. share dIus commissions. 17 wa uA uA IS, Coleman arranged that deal 10 last year, with the proviso 7 10 34l" 14 14 14 - that he W0Uld StCk 30 50 50 so a from FOF if P-D shareholders I lft lft ti"M , , j ,.,! rejected me piupimcu. . P-D stock closed Wednesday on the Amex at $29 a share. -ii'ii than a year aR0 Jt ha? 3 17 17 17 47 13 13 13 2 233A 23 23 Vi 4 16 16 16 Vi I 'a 7 7 12 12 12 12'A 5 53A 7 5 20'A 5 5 7 5 20'A 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 5 10 10 12 1034 9 5 7 18 32 19 34'a 30 2 2 5 10 18 11 10'A 9 6 7 5 5 7 5 20'A 10 14 Vi 4 4 Vt 9'a 13 V 42 V, -V 9 Vi 10 V. 11 Vi 10 9 5 734 'A ; PIE Fights Attempted Takeover 18 Wa 32 32 34 34 2 2 5 5 18 18 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 20 2 23! 2 The big Oakland, Cal.-head- 10 quartered truck line, which m has one of its major terminals 8 Vi in West Itiehfield. filed suit in Federal Court in San Francisco, charging the offer violates the 1934 Securities Excnage Act. 734 7 10 1014 4 4 6 4 8 8 10 10 1234 1234 10 14 1234 Vi 5 7 2 1 XI 3 1 1 29 29 29 4- Vt 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 10 12 12 12 Vt UVt 12 37'A N 37'A 10 10 15 15 7 7Vi 7A 73A 19V4 18 7 4 11V4 IIV4 5 5 12 15 15 53A Vt 12 12 Va 8 2 73A 8'i 734 534 3 - Vt Org pfl.40 IlfJO 9 23A 7 8 7 - 534 24 24'A 9'A 9'A 12 17 16 4 34 353A 1 73A 9 31 '2 9 4 8 2 4 14 14 13 13'A SC 5.80Df 1.45 SC 5.20pf 1.30 Sou Real&l It SouRoy 1.20b Sw For Ind Swn Inv .70 Specify Rest SpeedOP .21 1 Spencer Shoe Std Containr StdMefal .29f StdMot A .75 Std Pac Corp Std Thomson Stanrock Ur Stanwick Cp Stardust .24e Star Smkt .40 5 , steelmet Inc 8 .hU.H riftrtrn 21 21 21 Isterl Extr .24 2234 22 22 - 14 1 SterPrec ,25f 2714 27'A 27'A - 14! Stern Met .25 8 t 5 57 58 4 4 1534 - 3 34'A 7 'a 4 12 43A 12 lfl'A 3 7'A 57 30 5 8 4 4 Vi 8 p 8 4 4 4'A 8 2 - Vt 4 14 - Vi 13 Vt 4 12 ..... 4 - 12 9 - 2 7'A 57 1 30 - 73A 31 9 24 20 22 8 PIE CLAIMS the Philadelphia firm failed to disclose Viot Dull Aeronautics Board 2 ya Hldl, iv ' 37'4 approval was required in 15 connection with the proposed 7m 1 u Durchase. Two PIE subsidiaries hold ii'A-vi par authorizations to engage in domestic and international air freight forwarding operations. International has offered to nnrohase ud to 300,000 shares 24 , nn rt . r.Unn Kiit cairl ira 9'A al fll.JU a auoic uu. I t & intention is to acquire 51 pet. of the trucker's stock, rib earlier urged stockholders to reject the offer. Meanwhile the Philadelphia holding company said it will 15'i ' 9 234 734 evi 14 734 v 534 73A 31 V 9 Vi 24 H 20 22 Vi 9'i 4 12 4 12 9 2 7 54 30 5 8 24 4 20 5 23 14 9 82 44 44 44 11 22 22 22 3 14 14 14 vi proceed with its program as SS - scheduled, noting that the til ing of the complaint in no way bars it from continuing to accept tenders. 4'A i 1-14 5 . 11 14'A 9 53A 22 934 13 2 3 7 9Va 16 22 6 13 3 634 2 9 27 5 1 14 1034 16'A 9V4 5 22 934 13 2 3 7 9 22 13 63A 934 5 14 Net Earnings Finley Is Suing Parvin CHICAGO (JB - A $2.5 million damage suit was filed Wednesday on behalf of insurance man Charles O. Finley, charging that Parvin-Dohrmann Co., and 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 h e purchased more than 12,000 shares in Parvin-Dohrmann 0 n 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 s defendants, besides the company, were Delbert W. Coleman, William C. Scott, John J. Dun-phy and F. 0. F. Ass o-ciates. Hartcr Bank Ups Dividend By 25 Pet. Shareholders .of 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 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 split, Chairman John B. Root reported. The present dividend is $1.60 a year. Joe P. Gills, executive vice president of Ohio Power Co., was elected to the board of directors. At their meeting, , directors elected Russell N. Thomas as1 senior vice presi- : dent-loans, ana wimam n. Moock, vice-president loans. fJMU'Xo fV4i' 'iSa0 tut' 9 V 5'A Vi 22 934 ... . 13 Ml 2 3 7 - 9 22 Vt 13 tf ' ritMMIK KNfilNE t,i ji iL nnarUr (5.8 milloln or 95 centa i t I vm mn A nil K . . I- 14 CO., f a r 1534 3'a 34'A 7 37'a 223A 19 111 6 8 8 15V4 15 5 5 33A 33A 33A 33A See COMPLETE, Page E-U ( Metal Market V. 3.4 million or SI renin. DOW JONES & CO.. for quarter 14 million or centa va. 15.1 million or 87 centa. ELI LILLY ft CO., for quarter US'!. 7 million or 87 centa v. 27. million or 8:i centa. G. W. MURPHY INDUSTRIES, Pittshui eh-'or 1 weeks Mi32,0O() or as centa NFTW YORK (API 37 Va ,.,.., rtol 1 !,, ...... mtnturl I VS. Hi IVi.llllO Of 9 CCHth - , Thursday by 'iron Age at $42.00- PKNN-DIXIE CEMENT, for yr 19 ... a:i nn $4.5 ml ton or $1.60 t. 4.1 mil- 111 lV4i SDOt nonlerrous metal nrlcesl Uon or 81.51. 6 Thursday: copper 6O-6OV4 cents al RELIANCE UNIVERSAL., I r 8 pound, Connecticut Valley; lead 16Va j 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 CORP.. for IS 3V4 i $1.81 a pound, New York; gold w"ks HMri.MW or cents vs. 1A !as Rn nr.r trnv sinncs Nur Vork : tAVflflA or A cents. 1 21 . 21 !1 -I- i silver 1 H7S nor frnv nunrK N1V UNION COMMERCE BANK- 1 18 18 18 'AiYork; quicksilver 1475.00 per flask, ' CLEVE., for quarter 2.B million S 16 I6V4 I6V4 , New York. ar 1.77 Ti. 81.5 million or $1.06. 4 lo'a )6'a 6 Vt - 7 24 24 4 4 4 PacLt pM.75 Z100 62'A 62'A PacNwTel 1 Park Ele .61f Park Ian Hos ParvDoh .20g Pat PPap .36 Pato Cons G Peab Gat .39f Peel Elder Pentron El PEPI Inc Perm8neer Petrie Sir .45 PhllLgDis .91 PhillipScr .20 Phoenix Stl Piaseckl Aire Pickwick Infl Pioneer Plas PionerSy .44f Pittwav .60b PitWVTr .54 PK1 Co Pla;a Group 2 15'A 15'A 9 13'A 13 1 10'A 10'A 24 3034 29'A 7 15 15'A 15 7 7 33 . 23?i 22 14 1334 7 3 3 3 38'A 38 75 15 1 27 1 7 21 183i. 6 5 42"? 16 105 4034 7 24 4 62'A 14 15'A 13 10'A 30 1 15'A A 7'A .. 22 22 1 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 CALL US ABOUT QUALITY HEALTH INSURANCE mmmmmmmwmmmmmmmtmtmmwmmmmmwmmmmmmmmmjmmm INCOME PROTECTION HOSPITAL-SURGICAL e MAJOR MEDICAL 14 27 7"i 18 6 5'4 42 18 10 40'i 7 6? 15 867-5064 IF IV- s H. A. SIEGENTHALER 1795 WEST MARKET STREET AKRON, OHIO 44313 PEOPLES FEDERAL HOME OFFICtl: WOOSTM AKRON Main & Market DIAL 533-1505 1

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