Reno Gazette-Journal from Reno, Nevada • Page 12

12A Wednesday, March 16, 1983 Gazette-Journal Factory capacity, industrial output increase Today's report showed that factory use, though rising recently, was still at a relatively low level. The operating rate was 79.8 percent in July 1981 when the recession began. Production gains in February were recorded for cars and other consumer goods, for construction materials and for defense and space equipment, the Federal Reserve Board said. Output of business equipment continued to decline, however. Although both the factory use and production results last month trailed January's gains, some economists said that did not mean the recovery had stalled.

Jack Lavery, chief economist for Merrill Lynch said the latest production gain "reinforces the notion that the recovery is very much a 1-10, up from 156,505 in the year-earlier period. But the daily sales rate showed; weakness. The rate of 17,846 sales per day was the best for that period since 25,382 were sold daily in early March 1981, but was the fourth-worst for that period in the past 22 years. Ford Motor Chrysler Corp. and American Motors Corp.

either reported or estimated gains in the past two weeks, while General Motors Corp. and Volkswagen of America Inc. reported declines. "It's pretty darn flat," said John Hammond, an industry analyst at Data Resources a research firm in Lexington, Mass. "This is no different than anything we've seen in the last three months." Jerry Jasinowski, chief economist for the National Association of Manufacturers, said production fluctuations are typical for this stage of the business cycle.

But he added, "Manufacturers are not going to rapidly expand production until they see a substantial and sustained increase in sales. Most manufacturers are not yet convinced that the recovery is for real." In addition to giving new February figures, Tuesday's report revised January's 0.9 percent industrial production gain into a robust 1.3 percent increase. Output had risen 0.2 percent in December after declining in 14 of 16 previous months during the heart of the recession. The five major U.S. automakers said they sold 160,617 cars between March By The Associated Press U.S.

factories operated at 68.5 percent of capacity in February, a 0.2 percentage-point gain from January, the Federal Reserve Board said today. The increase was the third straight gain in capacity utilization after having fallen in 14 of 16 months during the heart of the recession. Factory use had risen 0.8 percentage point in January. The factory-use gain paralleled Tuesday's government report that U.S. industrial production rose 0.3 percent in February, also the third consecutive monthly rise.

Sales of new domestic-made cars, meanwhile, rose 2.6 percent in early March compared with a year earlier, and OPEC's new price for oil of $29 a barrel already appears under pressure. v. iy 9 I Southwest Gas sees stable prices in southern Nevada LAS VEGAS Southwest Gas Corp. officials said Tuesday the utility expects natural gas rates to remain stable in southern Nevada for now. Marvin Shaw, vice president for rates for Southwest, said the utility has informed the state Public Service Commission that it will not seek a cost-of-gas-related rate hike this spring as in past years.

"This trend toward stable prices is a result of joint efforts by Southwest and its primary supplier for its southern Nevada system, El Paso Natural Gas said Shaw. Southwest supplies natural gas to approximately 91,000 coustomers in southern Nevada. Ely's Hotel Nevada reopens ELY (AP) Gaming has resumed at the Hotel Nevada following an Internal Revenue Service seizure of cash, general manager Bob Sanderson said Tuesday. Sanderson said gambling was revived after the landmark club replenished its bankroll. Hotel 1atrons were allowed to stay after the IRS pad-ocked club doors, but couldn't gamble for awhile Monday, he added.

The six-story Hotel Nevada is the only hotel-casino in Ely, and the town's largest structure. The hotel's parent company, the White Pine owed back taxes of $231,380 dating to 1981, according to IRS spokeswoman Kim Kimblom. Club owners include California Assemblyman Terry Goggin, D-San Bernardino. Analysts: Eastern pact too much MIAMI (AP) Eastern Airlines, which lost $140 million during the past two years, might have offered too much in the contract proposal which averted a strike by union machinists, industry analysts said Tuesday. Eastern chairman Frank Borman said the offer, reached Saturday night shortly before a strike deadline by the International Association of Machinists, would boost the company payroll by $200 million during the next two years.

"It's an onerous commitment," said analyst Robert Joedicke of Lehman Brothers Kuhn Loeb, Inc. of New York. Hale Stores profit up 51 percent LOS ANGELES (AP) Carter Hawley Hale Stores, Inc. said Tuesday its profit in the fourth quarter of 1982 was up 51 percent from the same period a year earlier. The company said its fourth-quarter profit was $37.3 million compared with $24.7 million in the same quarter in 1981.

Per share earnings rose to $1.16 from 83 cents a year earlier. General Mills ends trademark fight MINNEAPOLIS (AP) General Mills Inc. has called a cease fire in its battle with a Chicago area restaurateur over possible trademark infringements involving its breakfast cereal, Wheaties. The Minneapolis-based company said Monday it was dropping its objections to use of the name Wee-Dee's by a Carol Stream, 111. restaurant.

General Mills officials had contended the name was too similar to the breakfast cereal and the trademark registration in the restaurant category would cause confusion for their product. Japan claims trade issues distorted NEW HAVEN, Conn. (AP) -Some U.S. officials may be deliberately distorting trade issues between Japan and the United States to gain political mileage, a Japanese diplomat charged on Tuesday. Seiichiro Ohtsuka, deputy consul general for Japan in New York, said his country is being unfairly blamed for many of America's economic problems because Japan has more export trade than import trade with the United States.

"Recession, unemployment and record high trade deficit have created a new round of (U.S.) frustration against Japan," he said. "On the Japanese side, there is a growing ill feeling over what is perceived to be a deliberate misconstruing of the trade issue and an attempt to make Japan a 'scapegoat' for problems that are of America's own making." Although he did not name anyone, Ohtsuka said some American presidential hopefuls have Garn attacks Japan over high-tech sales WASHINGTON (AP) Sen. Jake Garn, R-Utah, chairman of the Senate Banking Committee, accused Japan today of selling the Soviet Union all the high technology equipment that theJLJ.S. government bans American companies from shipping on security grounds. He suggested that Americans could be asked to boycott Japanese cars in retaliation.

Gam told a conference of international bankers, including some Japanese: "It is offensive to me as a United States senator to. find out that Japan just sells everything that we refuse to sell, so the Soviets get it anyway and we lose jobs in this country." Garn said the effect of the Japanese sales is to make the United States and its NATO allies spend more on defense. He suggested that if the Japanese sales to the Soviets continue, Americans could be asked to boycott Japanese cars and the Japanese be told to try to sell their cars in the Soviet Union. I realize I've got my Seiko watch on like everybody else," he said, holding up his arm as evidence of the sales of Japanese goods in this country. "I do not drive a foreign car but I do wear a foreign watch.

But there has to be some reciprocity and Japan can't continue to block our agricultural exports and then want to sell all these cars here." He suggested that the U.S. government, instead of spending $5 billion to create what he called "make work jobs" could create more work by purchasing 500,000 U.S. cars at $10,000 each and dumping them in the sea. ASSOCIATED PRESS PHOTO JAPAN TRADE: As a Japanese official blasts some U.S. officials for distorting trade issues, the Japanese continue huge exports to world markets.

Here a ship in Yokohama port near Tokyo loads cars bound for Europe. by the League of Women Voters of Connecticut. "The truth is that the Japanese market is much more open than Americans think it is, and the American market is less open than Americans generally perceive." "already begun to run on these resentments." U.S.-Japan relations may deteriorate if this American perception of Japanese trading continues, Ohtsuka told about 400 people attending a symposium sponsored Gaming board schedules hearing on Perlmans' plans to buy Dunes From wire service reports LAS VEGAS An extensive Nevada Gaming Control Board hearing begins next month to determine whether Clifford and Stuart Perlman, former owners of Caesars Palace Hotel, should be allowed to operate and ultimately buy the Dunes Hotel-Casino on the Las Vegas The hearing could take three days. Board chairman James Avance said Monday the hearings were scheduled to begin April 5. The length of the hearing is similar to Nevada license hearings in the late 1970s for Morris Shenker, the St.

Louis attorney who now owns the Dunes Hotel and proposes to sell it to the Perlmans for $185 million. A major consideration by Nevada gaming officials is the refusal of New Jersey gaming agencies to license the Perlmans because of alleged associations with organized crime. The New Jersey denial forced the Perlmans to sell their interest in Caesars World Inc. and Caesars Palace Hotel in Las Vegas. The Perlmans appealed to the U.S.

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