The Akron Beacon Journal from Akron, Ohio on September 16, 1969 · Page 63
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The Akron Beacon Journal from Akron, Ohio · Page 63

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Akron, Ohio
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Tuesday, September 16, 1969
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Page 63
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It n or ir rei warai 00111 aw gilt For akkon iu:.( ON JOUHNAL 1 and I ranance y CHICAGO LIVESTOCK CHICAGO (AP) Butcher hoq rnc were steady to strong at the Chicago Stockyards Tuesday. Hog receipts totaled 2,500 head and shippers took 1.810 of the supply Mixed 1 2 butchers weighing 205 to 330 pounds sold at 26.25 to 26.50 but 86 head scalina around 215 pounds topped at 26.65. "Mixed 2-3s in the 240 to 280 pound range went at 25.25 to 26 00. Mixed 1-3 sows weiqhing 330 to 500 pounds brought 22.50 to 24.25. Slaughter steer and slaughter heifer prices were steady and cattle receipts totaled 700 head. A few loads and lots of mixed high choice and prime 1.125 to 1.225 pound slaughter steers sold at 30.25 to 30.75 and choice 950 to 1,200 pounds brought ?8.5 to 30.00 with good nd choice bringing 28.00 to 28.75. Choice 800 to 1,000 pound slaughter heifers sold at 26.75 to 28.00 and mixed good and choice 26.00 to 26.75. Spring slaughter lamb prices were steady and sheep receipts totaled 230 head. Choice and prime 92 to 110 pound Spring slaughter lambs sold at 23 50 to 29.00. EGG MARKET COLUMBUS (AP) Price. p'd 'o country packing plants for eqcjs delivered 'a major Ohio cities cases induaed consumer grades including U. S. grades, minimum 50 case lots Car f on Large A 52-55, Medium A 41-46, Smalt A 42-34' 2. Sales to retailers in meior Oh.o cittos, cartons delivered: Larqe A white 56-6' mostly 58-59; medium 47-53, mostly J?-V) Poultry prices at farm1;, Ohio -Trv Southern Indiana, qua'ity fryrrs 6.: 17.'; fight 9-10, mostly -0. CLEVELAND PRODUCE CLEVELAND (OPS) H-,.wr;ro.ver Market chanaes. Apples: Mcintosh 2 r-inch UP 1 3". . ' i best mostly 1.75-2.00. Roans- !2-gt bkts 2 00 Com: Crates 5 dozen 2 50? " Letturp- Both leaf mostly ' 5' Peaches: 8qt bkts 1-1.50 Peppers Medium-larqe 3150. No ret medium. '6-gt large 1.50-2.00 ! Jo s f Nygaard Flora MONEY RATES NFW YORK 1 Sr rtoliars and d Canada Britain, 0-day 90-day Autrat'i n NY, -. pound futures future1, future dollar Ai.'Stf-ifl, schilling Belgium, franc Denmark, krone France, (ranc. Ho;land, guilder JMty, l-ra Norway, krone Portuqa!. e'cudo Sweden, krona Switzerland, franc, free West Ormany, deu'cne ma Poreiqn F. , of a del TUF.S V77 7.387? 2 3797 ? 370? ? 3.S9? I 40 Hi's 895 Si'tiiU' "JS0 ?76J r.,-' sf.i .'..- .0X52 ':.:7? 55'5 Latin America Arqentma. peso, free Rrar. cruzeiro, free Mex.cn. peso Venezue'r, bolivar Far East Hor.g K2"Q dollar Japan, yen Near East Israel, pound 007' 2150 OH' ' .22?', 0'i?795 lar MOM 9274 2.3385 2.3305 2.36B5 2 355 1 .1 45 0387 01St8 .1329 .'80250 2764 .001585 .1399 0352 .193350 .2328 .25' 8 .0029 '.'ISO r.8Vi 2219 . ' ' 5 '02794 TREASURY NOTES NEW YORK ury Notes b.d and thirty seer to maturity tr Oit i 1W? Apr V.7 1970 May 5H 1970 May 6J' 1970 Aug i't 1'0 Oct I'l 1970 Nov 5 1970 Feb 5H 1971 Feb Pt 1971 Apr 1"? 1971 May 5'- 1971 Oct V'l 1971 NOV 53 1971 Feb f i 1972 Apr l'-3 197? May 41-4 1972 Oct V,i 1972 Apr "l 1973 Oct T'J 1973 Apr !'' 1974 Aua 5H 1'4 Nov 5 1974 Ftb 5 1975 My 6 W5 Feb '4 19' AAav,6V2 1976 SuCiect to Fc Inco'ne taxes. fAP) -CiOSinO U '-i Trec- d asked price :n dollars is and approximate yed Sunday. 99,18 99 27i 6 '7 96.8 96 2i 7 Ih 9 18 98.22 7 '1 09 2 '.'9 t 7 ' 1 ? 26 98.30 7 " .16 ' .' 1 75 72 ' ''0 7 30 9. 70 9, -c 7 5 99 79 99 3! 7.7' 91.20 92 fi i. 62 95 30 96.6 7 73 89 16 90 1' 6 55 95 20 95 28 7 47 9' U 93 22 7 66 87.8 88.8 6.60 92.26 93.2 7 67 85.88 S6.8 6 56 83.16 84 16 6 47 81.16 82.16 6 49 SOB 81.8 6 31 92.10 92 18 7.a6 92 20 92 28 7 43 2.J0 92.28 7 36 93 22 93.30 7.33 95 2? 95 30 7.05 95.26 96.2 7 26 ral taxes but not to State 175 SHARES AKRON EQUIPMENT COMMON STOCK $1,500 per jhara in lots of S shares Write Bent R 52, Akron Beacon Journal Tuesday, September lfi. Wi9 Akron Beacon Journal Woostor Bnih Opens llh Plant Wooster Brush Co., remnizod as iho world's largest producer of paint brushes, has opened its fourth manufacturing plant and warehouse at Reno, New Gov. Paul M. Laxalt of Nevada and Jack Lester, president of the 118-year-old Wooster, O. firm, addressed 250 guests at the opening ceremonies. The 34,000 sq. ft. Reno plant is designed to serve 10 pet. of the projected market for paint applicator products, Lester said. Traffic Accidonl Losses Soar The Insurance Information Institute says that economic losses from traffic accidents in the nation totaled more than $1.2 billion in June, an increase of $93 million over the same month last year. It was the sixth consecutive month losses have been higher than comparable periods in 1968. The losses include wages, medical expenses, property damage and insurance service costs. 43fusl End Trade Barriers' David Rockefeller, chairman of the Chase Manhattan Bank, Monday urged the world's businessmen to help break down tariff and trade barriers in order to foster development around the world and 'close the income gap" between the rich and poor nations. Delivering the keynote address at the International Idustrial Conference, he warned that if international trade and investment are curtailed by artificial barriers as a result of national efforts to control inflation "we could so embitter two-thirds of mankind that it would take generations just to reestablish communication, and during that time we could be forced to live in armed camps." Rockefeller proposed "to let the poor countries earn more of their way in the world through free access to the markets of the rich." '42 Pet. Need Housing Aid' An estimated 42 pet. of the state's population needs some form of governmental assistance to get safe, decent, sanitary housing. William B. Roshon, chief of the urban development division of the Department of Urban Affairs in Columbus has told the convention of the Ohio Association of Real Estate Boards there. Such assistance, he said, embraces 886,000 units with 86,000 of the total needed each year just to keep up with new family formations in the low-income bracket. "In Ohio," he added, "112,000 units are needed by 19S5 to replace our present substandard housing 'units." Goal: Help For Consumers Two projects are under way in related efforts to help make it easier for the consumer to know what he's buying. In one, the Lazarus store in Columbus, O., of Federated Department Stores is using new "buying guide tags" on all small appliances which detail what , should be expected of them. In the other, Safeway Stores in Wahington, D. C.. are using special gummed labels showing the cost per pound or pint of packaged foods and detergents to make for easier comparison of different size packages. Exchanges Fight Complaints The New York and American stock exchanges have recommended new procedures to expedite the handling and solving of customer complaints by membr brokerage firms. Standardized forms would help keep operating executives of the houses informed of complaints, their status and their age. The goal is to pinpoint problem areas and Rpoed corrective action. Beacon Journat-Chtcaqo Sun-Times Young pop music addicts think a week is a long time to sing a song and a month is the measure o f ancient history. Hence, the record companies rush top tune candidates around the country by air hoping to hit the market before it is gone. To the air freight industry, this is good and bad. Good that the record companies do see fit to ship by air. Bad that only 10 pet. of the records sold in this country do move into distribution by air. IT IS the 90 pet. moving by truck and train that bothers and excites people like Julius Wagner, a founder of and president of a company called Jet Air Freight. Jet Air Freight is one of 170 or so companies in the business of forwarding freight by air. It picks up products, sorts and consolidates them, puts the shipments aboard the appropriate airline and handles deliveries at the other end. It and five other companies out of the 170 have public stock. The others: Emery Air Freight, Airborne Freight, Domestic Air, Wings & Wheels and WTC Air. WHAT, Wagner keeps asking himself, will happen to the freight business a n d to his company i f the air industry grabs off 20 or 30 or 50 pet. of the record business? Or to put it in more realistic terms, what will happen to the business if very small gains can be made across the board in all product categories? As matters now stand, only 1 pet. of the freight moving between cities goes by air. HOW ABOUT an increase to just 2 pet. ? Last year domestic air freight revenues amounted to $297,000,000. On the basis of past performance, it is not too farfetched to think that revenues could double to the $600,000,000 area in a relatively short time. In 1963, air freight revenues totaled only $130,000,000. Wagner, understandably partisan, i s certain that the five-year increase of 128 pet. between 1963 and 196S will be more than matched in the years ahead. In fact, he says, "With the new air cargo planes coming in we mav do to the trucks what the the railroads." trucks did to FOR YEARS the air freight people have been dreaming about a new generation of planes that would make a i r shipment more efficient and more attractive. Officials are talking about the Lockheed 500, the civilian cargo model of the military's C-5A. It is due some time next year and could carry 360,000 pounds. Then there's the jumbo passenger j e t, the Boeing 747, coming in this Winter. The 747 SOURCES OF PERSONAL INCOME Sea.onoiiy Adjustri mil SIO Million Issue 700 600; 500 400 200 100 billions ot Dollar! I I TOTAL PERSONAL INCOME 1 WAGE AND SALARY DISBURSEMENTS I I i I OTHER INCOME TRANSFER PAYMENTS 1965 1966 1967 p3 1968 Highest Rate Ever For Edison Bonds 1969 (Sourct: Deportment of Comment) TOTAL PERSONAL income for Mr. Consumer and his fellows at the end of the year's second quarter reached $746.1 billion, at the seasonally adjusted rate. Wage and salary disbursements totaled $508.5 billion and transfer payments were at the rate of $65.2 billion. (Transfer payments refer to funds transferred from categories such as Social Security and pension funds to the personal income segment of the economy.) Dealer Topic: Manpower Ohio tire dealers will convene in Columbus Wednesday for their Fall meeting and hear a discussion o n "Developing Manpower." Harry McComas, director of field operations for the National Tire Dealers find Retreaders Association of Washington will be the speaker. The afternoon program also includes a film featuring Vince Lombardi, the Washington Redskins coach, on "How to Make a Second Effort." Two Cleveland dealers, Jos-peh Russo and Leonard Fine- silver, will lead a "Tire Top ics" discussion. Russo is due to be elected president of the naj tional association later this month. Robert A. Turner, president of Northern Ohio Tire Co. of Akron, is president of the Ohio Tire Dealers & Retreaders Association, and William Floyd of Poison Rubber Co. is executive secretary. B. C. Roush, vice president-sales, Dayton Tire & Rubber Co., will address the dinner. The sessions will be held at Imperial House North. Mutual Funds NEW YORK (AP) The following quotations, supplied by the National Associ ation of Securities i Dealers, Inc., are the prices at which these securities could have been sold (bid) or bought (asked) Monday. deVgh M Decat Inc Delawre Delta Tr Divid Shr DowT In Downt F Drexel Dreyf Fd Dreyf Lv Bid Ask 67.54 67.S4 12.18 13.31 13.55 14.81 8.26 9.03 3.81 4.17 6.65 7.27 6.22 6.82 16.10 16.10 13.09 14.35 12.61 13.62 Finlay Nygaard Is T I lire ueaier Sales Chief Karl O. Nygaard, who was Southeastern regional manager for B. F. Goodrich's tire division for the last three years, returns to A k r o n as general manager of dealer sales, W. H. Campbell, vice president replace m out sale s. announced. W. B. Flora becomes Southeastern regional manager-wholesale, with headquarters in Atlanta. He had been general manager of dealer sales. In another change, A. B. Sonne was named administrative assistant to Campbell. NYCiAARI) was with the Department of Commerce before joining Goodrich in 1954 as an economist. He served as corporate director of business research before transferring to the tire division. Flora has been with Goodrich for 33 years, and was previously general manager of retail sales. Sonne, a 31-year veteran in sales, came to Akron in 1959 as retail stores staff credit manager. CASH GRAIN CHICAGO (APl-Who.il No 2 hard V'l'ow 1.33' in; No. 2 soft red 1.32'mv C'rn No. 2 yellow 1.25'n. Oats No. 2 eira heavy white A4'.n. Soybeans No. 1 yellow 2.255n Sobran oil 10 OOn. ' Heads Sale Of Car Tires Appointment o f Robert W. Finlay, 43, as manager of auto tire sales for Goodyear was announced t o -day by A. H. Shafer, marketing manager. Manager o f retread plant sales and operations since May, 1968. Finlay succeeds W i 1-liam E. Still who has taken early retire- ment after nearly 18 years at this post and 32 years with the company. Finlay joined Goodyear i n 19.50 a s a budget manager trainee in Hartford, Conn., and came to Akron in 1956 as senior staffman in auto tire sales. He lives at 1891 Brookshire rd. Heat Treating Heat treating of metals will be discussed when the Akron district chapter of the American Society for Metals opens its 1969-70 program Wednesday evening at Young's Restaurant. Manuel Maligas of Goodyear Aerospace Corp.. technical chairman for the chapter, will preside. Eaton&Howard: Bid 2.38 7.28 i.01 Ask 2.60 7.96 8.66 Aberdn Advisrs Affiliate! Afutre Alpha Fd I Amcap jAm Bus iAm Dvln iAEx sol Am Grth Am Inv Am Mut AmN Gth Am Pac Anchor Group Capit 9.00 9.86 Grwth 13.00 14.25 Incme 8.83 9.68 Fd Inv 9.99 10.95 Associa 1.31 1.44 Astron 6.45 Axe Houghton: Fund A 7.02 Balan Grwth Incom Spec! Stock Eberst Earet Emrg Sc 10.67 10.67 11.75 12.84 5.93 6.48 .12 3.55 10.48 11.46iEnergy 10.08 . Entprse 6.71 7.29 Equity 8.77 8.77 Equt Gth 9.44 10.32 Essex 3.17 3.46 Everst In '43 8.12 Explor Fairfd Farm Bu Fund B Stock Sci Cp Babson Berg Knt Blair Fd Bondstk Boston St Boston Broad St Bullock CG Fd Canadn Capit Inc Capit Inv Capit Shr Cent Shr Channing Balan Com St Grwth 6.55 7.16 Incom 7.87 8.60 Sped 2.92 3.19; Chase Group: Fund 11.84 12.94! Frnt 96.14100.41 Shrhd 11.70 12.79 8.86 6.40 5.16 8 84 9.70 9.70 10.61 11.60 6.87 7.51 7.57 8.27 8.26 9.03' 14.49 15.66 15.31 16.77 9.33 10.09 18.78 20.30 8. 33 .13 4.49 4.92 7.14 7.83 10.85 11.86 Funds Fed Grth Fid Cap Fid Fund Fid Trnd 7-05jFnancial Dynm Indust Incom Vent FstF Va Fst InGth Fst InStk Fst Multl Fst Nat Fst Siera Flet Cap Flet Fnd Fla Gth Fnd Gth Foundrs Foursq 7.63 9.63 6.99 5.61 8 12.17 13.19 1.77 10.80 11 12.77 13.96' 6.12 6.69 11.19 12.23 14.66 16.02 13.49 14.75j 13.37 14.53 8.27 9.04 14.16 14.16 8.34 9.11 9.54 10.43 17.80 19.51 16.02 .... 14.51 15.86 23.05 24.52 11.06 12.09 V1.22 11.771 13.88 15.17 11.68 12.77 16.69 18.24 25.49 27.86 Prog: 6.66 7.29 4.17 4.57 6.33 6.93 8.66 9.47 10.85 11.86 9.82)10.76 8.8V 9.65 9.44 9.59 7.57 8.27 41.92 46.02 7.87 .... 6.65 .... 7.28 7.95 5.63 6.15 8.25 9.02 11.79 12.891 Bid Ask Inv Indie 13.72 13.72 Inves Bos 12.32 13.46 Investors Group: IDS ndi 4.94 5.36 Mut Prog Stock Select Var Py Inv Resh Istel Ivest Ivy J Hncock Johnstn Keystone Cus Bl Cus B2 Cus B4 Cus Kl Cus K2 Cus SI Cus S? Cus S3 Cus S4 Polar Knickb Knick Gt Lexingt Lex Rsch Liberty Life Stk Life Inv Ling 4.50 5.00 10.40 11.31 20.04 21.78 8.97 9.64 7.91 859 5.00 5.46 22.80 23.51 15.22 16.63 9.05 9.05 8.28 9.00 21.43 21.43 Funds 19.18 20.02 20.15 21.98 9.31 10.16 7.93 8.65 5.45 5.96 17.86 19.49 11.07 12.081 8.54 9.33 5.34 5.84 4.37 4.79 7.41 8.12 11.17 12.23 10.L1 11.15 15.44 16.87 6.31 6.90 5.22 5.71 7.13 7.79 6.17 6.74 Bid Ask 3.06 Plan Inv 11.95 Price Funds: Grwth 24.81 24.81 N Era 9.80 9.80 N Hor 26.78 2 6.78 Pro Fund 10.96 10.96 Provdnt 4.75 5.19 Puritan 9.90 10.82 Putnam Funds: Equit 10.89 11.90 Georg Grth Incom Invest Vista Voyag Rep Tech Revere Rosenth Schustr 14.29 15.6? 11.50 12.57 8.27 9.04 7.25 7.92 10.77 10.77 9.05 9.89 4.94 5.40 13.61 14.87 8.41 9.20 15.76 17.25 Scudder Funds: Franklin Group: Com St 7.09 7.77 Chemcl Colonial: Equty Fund Grwth Vent Commc ComS Bd Commonwlth Fds: Cap Fd 9.89 10.81 18.46 20.18 4.70 5.14 11.78 12.87 6.49 7.09 6.73 7.36 10.02 10.95 5.10 5.54 Incom Invest Stock Cwlth AB Cwllh CD Comp As Compel Comp Bd Comp Fd Comstk Concord Consol In Consu In Cont Gth Corp Ld Cnty Cap Crn WDiv 9 83 10.74 9.70 10.60 9.7 10.64 1.47 1.59 1.70 1.84 15.30 16.77 8.43 9.24 9.28 10.09 9 96 10.83 5.10 5.57 15.89 15.89 12.25 12.75 4.86 5.31 10.19 10.29 15.11 16.60 13.48 14.57 7.01 7.66 Crn WDal 11.37 12.44 DNTC Util Incom 1.93lFreedm Fund Am Gen Sec Gibraltr Group Sec: Aero Sc 9.01 Com St Ful Ad Grth Ind Gryphn Guaran Hamilton: HFI Gth Hanovr Harbor Hartwll H&C Lev Hedb Gor Hedge Heritge H Mann Hubsmn ISI Gth ISI Inc Impact F Imp Cap Imp Gth Inc Fund Inc FdB Indepnd Ind Trnd Indstry InsBk Stk inv CoA Inv Guid 11.54 12.65 6.52 7.15 2.32 2.54 8.62 9.42 9.58 10.47 unavail 13.28 13.28 9.85 13.34 14.58 9.0B 9.93 22.25 22.92 16.61 18.04 25.83 25.83 4.87 5.321 9.09 9.94 1.35 1.47 8.91 9.74 15.15 16.56 12.1313.1? 9.00 9.00 12.55 12.72 2.87 3.14 15.25 15.89 7.66 8.37 5.42 5.92 4.45 4.86 9.33 10.20 10.32 11.22 7.66 8.33 11.74 12.84 7.17 7.86 9.95 10.87 13.64 14.91 6.16 6.73 6 56 7.17 13.53 14.79 9.51 9.51 Loomis Sayles Canad 38.52 38.52 Capit 1 1.79 11.79 Mut 14.88 14.88 Manhtn 7.44 8.13 Mass Fd 10.78 11.78 Mass Gth 12.33 13.48 Mass Tr 15.47 16.91 Mates 5.11 5.11 Mathers 11.78 11.78 McDon 9.50 10.47 MidA Mu 6.61 7.22 Moody Cp 14.40 15.74 Moody' 13.69 14.96 Morton Funds: Grwth 10.18 11.16 Incom 4.04 4.43 Insur 7.84 8.59 MIF Fd 9.25 10.00 MIF Gth 5.83 6.30 Vu OmG 5.14 5.59 Mu Omln 10.17 11.05 Mut Stirs 18.09 18.09 Mut Trst 2.62 2.67 NEA Mut 10.84 11.86 Nat WSec 10.10 10.93 Nat Ind 11.25 11.25 Nat Invst 8.06 8.71 Nat Secur Ser: Balan 10.56 11.54 Bond 5.51 6.0? Divid 4.41 4.82 Grwth 9.13 9. Int Inv Spcl Bal Com St Sec Div Sec Equit Sec Inv Selec Am Sel Specs Sh Dean Side Sigma Sig Inv Sigma Tr Smith B Swn Inv Swlnv Gt Sover Inv StFrm Gt State St Steadman Am Ind Fiduc Scien Stein Roe Bal Cap Op Stock Sup InGt SuplnSt Syncr Gt TMR Ap Teachrs Techncl Techvst Technol Temp Gt Towr MR Tran Cap Trav Eq Tudor Fd TwnC Gt TwnC Inc Unit Mut Unifd unavail 36.53 36.53 15.13 15.13 11.08 11.08 11.32 12.24 3.77 4.12 7.68 8.39 10.17 11.00 By JOSEPH E. KUEBLER ' Beacon Journal Business Editor Ohio Edison Co. ran into the high cost of borrowing money today as it sold $40 million in first mortgage bonds that will carry an 8 pet. coupon. Morgan Stanley & Co., a New York brokerage firm, was the successful bidder, offering a premium of 100.954 pet. for each $1,000 bond, President D. Bruce Mansfield announced. THIS WILL make the cost of t h e money to the company 8.1643 pet., the highest in Edison's history but generally in line with current interest rates. Morgan Stanley said it will reoffer the bonds to the public at 102 pet., which will yield investors 8.07 pet. on their money. Thus a $1,000 par value bond will cost the buyer $1,020, on which he will draw 8y4 pet. interest. Proceeds of the sale will be Profits Spurt For Cinema General Cinema Corp. which acquired Akron-based American Beverage Corp. 18 months ago, posted a 45 pet. increase in earnings for the third quarter of its 1969 fiscal year ending July 31. Nine-month profits were up 41 pet. The Boston firm had net income of $2,578,000 on revenues of $40,356,000 during the third quarter. In the preceding year, income was $1,776,000 on revenues of $22,795,000. Nine -month profit was $4,409,000 on sales of $92,783,000 in contrast to income of $3,-116,000 on sales of $49,574,000 a year ago. General Cinema noted the '69 figures reflect several acquisitions. used by the utility to help finance its 1969-70 construction program, estimated at about $155 million. THE EDISON bonds carry an AAA rating, which makes them the highest grade obligations. In the bond market, the AAA rating means the bonds "possess the ultimate degree of protection as to principal and interest marketwise" and provide the maximum safety on all counts. Mansfield's announcement said the bonds are optionally redeemable at prices ranging from 110.25 pet. down to par, but are non-refundable prior to Sept. 1, 1974, at a lower effective interest cost. EDISON last sold bonds in 1961 when a $30 million issue carried a 4 pet. coupon. A 1945 issue was sold at 2 pet. Bidding on today's 30-year bonds was exceptionally close. An underwriting group headed by First Boston Corp. offered 100.95 pet. at an interest cost to the company of 8.1647. The Glore Forgan, Wm. R. Staats Inc. group bid 100.897 at an interest cost of 8.1694 and Halsey, Stuart & Co. Inc., offered 100.800 at a cost of 8.1781 pet. All carried a coupon rate of 8'4 pet. MONDAY, Tenneco Inc. sold $50 million in first mortgage pipeline bonds at a record 9 pet. interest rate. The issue carries a relatively poor triple-B rating and was offered at 100.5 pet. to yield 8.95 pet. to the investor. Most of the issue was sold the first day, however. DIVIDENDS TREASURY BONDS NEW YORK (AP) Closing over the counter U.S. Government Treasury bonds, bid, asked, net change and yield for Monday. 15.89 17.3714s 69 Oct 99.29 22 54 22.54 1 2'js 69-64 Dec . . 98.26 9.88 10.80 4s 70 Feb 98.16 9.93 10.85, 2Vjs 70-65 97.17 11.75 12.84i 4s 70 Aug ... 9.79 10.70 2"2S 71-66 9.71 9.71 4S 71 9.13 9.87l3'S 71 8 09 8.75 4s 72 Feb ... 14.35 15.71 '2"!S 72-67 Jun 5.52 5.5214s 72 Aug .... 50.2 5 51.751 2'2S 72-67 Sep Funds: j2"2s 72-67 Dec 11.35 1 2.40 14s 73 7.35 8.03! 4'es 73 4.67 5.10; 4' as 74 Fds: 20.51 20.51 14.96 14.96 4V4S 74 3'HS 74 4S 80 . 14.35 14.35 !3'2S 7.09 7.77 9.56 10.48 11.43 12.49 20.22 22.10 10.47 10.91 6.39 6.98 8 34 ... 8.08 8.81 23.46 25.64 7.21 7, 3'.s 3"s 44S 3"js 4'.iS 83-78 85 . . 85-75 90 92-87 4S 93-88 4 -as 94-89 3s 95 68.24 3VjS 98 68.24 96.22 92.30 93.2 92.4 91.30 87.18 90.14 86.14 85.14 88.4 88.4 87.18 87.12 85.4 78.20 75 70.8 69.24 76.28 68.24 73.74 72.4 71.28 99.31 98.30 98.20 97.21 96.26 93.6 93.10 92.12 92.6 87.26 90.22 86.22 85.22 88.12 88.12 87.26 87.20 85.20 79.4 75.16 70.24 70.8 77.12 69.8 74.8 73 4 72.12 69.8 69.8 .1 4.79 Pf Stk Incom Stock Nat West Nel Grfh Neuwth New Wld NY Vent Newton Noreast Ocngph Omega 100 Fd 101 Fd 6.9V 7.55 5.42 5.92 8.46 9.25 6.25 6.85 9.99 10.86 24.55 24.55 13.47 14.72 16.73 18.32 15.45 16.89 15.47 15.47 8.40 9.18 8.27 8.39 14.85 16.23 9.68 10.58 One WmS 16.25 16.25 O'Neil Oppenh Penn Sq Pa Mut Phlia Pilgrim Pilot Pine St Pioneer unavail 7.90 8.63 8.14 8.14 8.47 8.47 15.06 16.50 9.31 10.17 7.92 8.66 10.78 10.78 12.91 14.1 7.79 8.47 ! seconds 9.81 10.72 17.36 18.97 4.37 4.78 4.71 5.15 10.13 11.11 9.43 10.31 Prices quoted in dollars and thirty. P- Stk. of Pay-Rate riod Record abla OMITTED Am Bakeries Hart-Carter INITIAL Simplex Ind new .0625 9-23 10-3 INCREASED 6.90 Barnett Nat Secur .25 .. ,9-26 10-1 7.43 First Chi Corp ... .55 .. 9-19 10-1 7 41 Solitron Dev 045 . . 9-26 10-10 7.68 STOCK 7 40 Botiack Corp . . . . 3pc 10-3 10-24 7 83 Security Corp .... 3pc 10-10 li-3 7 76 REGULAR 7 60 AssdCoca-Cola Bott .18 O 10-3 10-30 7 49 Cdn Intl Power .40 O 9-23 10-2 7 62 Cutter Labs A8.B .11 Q 10-10 10-24 755 Detroit Edison ....35 Q 9-25 10-15 755 Fidelity Cp Pa ... .40 9-29 10-15 7 48 Firestone T&R .. .40 O 10-3 10-20 7 42 Gamble-Skogmo .325 O 10-17 10-31 7 41 Health-Mor 15 O 9-25 10-8 7.44 Kinney NatSvc . .0625 O 10-15 11-14 7 26 Lane Co 125 O 9-22 10-1 6.83 Lane Co 125 O 12-1 12-15 6 65 LeedsSiNorthrup .125 Q 10-1 10-25 6,50 Mammoth Mart .07 O 10-10 11-1 6.26 Murray Ohio Mfg .15 O 9-23 10-1 6.58 Nat Fuel Gas 42 Q 9-30 10-15 6.17 Pitts&W Va RR .045 M 10-15 10-31 6.40 Pitts&W Va RR .045 M 11-14 11-28 6.19 Pitts&W Va RR .045 M 12-15 12-29 6.35 Security Corp ... .50 Q 10-10 11-3 5.19 Skyline Corp 12 O 9-24 10-3 5.67 Sterchi Bros Strs .12 O 11-26 12-10 Warner Co 36 O 10-1 10-15 Whiting Corp ... .375 O 10-3 10-24 has a cargo hold that will take 35,000 pounds versus the 9,000 pounds of the current 707s. WAGNER is confident his own company, with headquarters in Inglewood, Cal., offices in 12 other cities, and a recently acquired international arm, will grow even faster than the industry. "Usually," he says, "the air freight forwarding industry grows at 15 to 20 pet. a year. And usually our figures are double the industry rate." Last year, Jet's sales amounted to $25,507,000 while profits equaled 70 cents a share. This year sales should top $30,000,000, according to Wagner, while earnings climb to the area of 95 cents to $1 a share. P-D Bid Approved By ERWIN MAUS III Beacon Journal Financial Writer Director of both Denny's Restaurants and Parvin-Dohr-mann Co. have approved terms of Denny's acquisition of P-D. The terms, unchanged since the amended proposal of July 10, call for the restaurant chain to issue three and one-third of its commoTi shares for each share of Parvin-Dohr-mann whose chairman, Del-bert W. Coleman, is a former Akronite. On t h e basis of Monday's closing price of $23.87y2 for Denny's, the transaction's value is aproximately $112 million. SHAREHOLDERS of both companies, and certain regulatory agencies, must now approve, and the acquisition also hinges on "other conditions" being met, according to Denny's president Harold Butler. D e n n y 's originally announced its tender offer June 5 on the basis of four of its shares for each share of Par-vin-Dohrmann, which owns and operates three Las Vegas casinos. A that time the offer was equivalent to $146 a share of P-D stock, or $184.3 million. Coleman's company was trading around $140 a share, and t h e restaurant chain's stock was selling at $36.62. P-D CLOSED Monday at $68.50 a share, with the Denny's stock valued at $79.58 per P-D share. Coleman, who at last report held 207,300 shares of Parvin-Dohrmann stock, would realize approximately $16.5 million for his holdings on the basis of Monday's close. The former Akron lawyer gained control of Parvin-Dohr-mann a year ago by buying 300,000 shares at $35 a share, but he later sold a substantial part of those shares to a control group he organized. When Denny's originally announced its tender offer, Butler said he did not expect Coler man to be involved in management ' of the firm should the transaction go through. United Funds: Accm 7.55 8.25 Incom 14.18 15.50 Scien 8.06 8.81 UFd Can -7.91 8.64 Value Line Fd: Val Lin 7.71 8 45 Incom Spl Sit VnceS spl Vandrbt Vangd Var IndP Viking WL Morq WallSt In Wash Mu Wellgtn West Ind Whitehll Windsor Wintield Wise Fd Worth 5 25 5.75 7.55 8.27 7 85 8.58 8.02 8.77 5.38 5.88 5.03 5.47 7.12 7.74 9.26 10.12 11.70 12.79 12.5513.72 11.89 12.92 7.89 8.62 14.61 15.97 9.60 10.49 5.87 6 42 7.23 790 3 01 3.36 Youngfellow Drug Stores (J Located Throughout The Akron-Cuyahoga Falls Area I 1 .......... A Head & Shoulders 4.32-oz. Family Tube List ... $1.75 Reg. $1.24 Sale 99 Gleem 6.7-oz. Family size Have lunch Texas style. Steak. And only $L65 Flame-broiled entrees with our famous Sauce Bordelaise: Sirloin Steak Steak Kabob served 1 1 :3 0 to 4 except Sundays and Holidays GIRVES BROWN DERBY America's favorite steakhouses AKRON: Highland. 8.14 V. Market St.. Waterloo. 959 E. Waterloo Rd. Hl'DSON: SO W. Streetsboro Rd. NORTONl 2934 S. t:livrVid-Maill(m Fd. CUYAHOGA FALLS: 170 State Rd. MOTOR INN Cuyahoga Falls. Champagne party every Saturday night. Credit cards honored. Ask lor a. Brown Derby credit card application. ' 6-Oz. Family Lotions List . Reg. $1.05 ..79c list $1.65 Reg. $1.19 Sale 99' SCOPE 1 7-Oz. Family Size list $1.49 Reg. ... $1.07 SALE SALE 49' Secret Anti-Perspirant 5-Oz. size list ... $1.59 Reg. ... $1.19 SALE 89 YOUNGFELLOW DRUG STORES VISIT THE YOUNGFELLOW DRUG STORE NEAREST YOU 2147 EAST AVENUE AKKON, OHIO 760 S. ARLINGTON ST. AKKON, OHIO 3241 0AKW00D DRIVE Cl'YAIIOGA FALLS, OHIO 2222 STATE ROAD CUYAHOGA FALLS, OHIO Riflhtu Reserved To Limit Quantities :.:.v.:.:-:xw :::

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