The Akron Beacon Journal from Akron, Ohio on February 10, 1970 · Page 13
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The Akron Beacon Journal from Akron, Ohio · Page 13

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Akron, Ohio
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Tuesday, February 10, 1970
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Page 13
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13- 96 IP rofit H brooayear ver Highest i 3 f it , 4 f (f , It 4 ZEBS'OSLSjD.ZrXLCBSS and By JOSEPH E. KTEBLER Btacon Journal Business Editor An unprecedented fourth quarter helped Goodyear attain the highest sales and earnings ever in 1969, stockholders were told today. While companies in many industries were showing declines, Goodyear's closing three months not only set a record for this period, but were second only to 19fi9's all-time high second quarter. IN THEIR annual report, Chairman Russell DeYoung and President Victor Holt Jr. noted that the company was the first in the rubber indus try to exceed $3 billion in sales. n winding up the best performance in its history, the firm earned $41,891,944 or 58 cents a share in the last quarter, 2.5 pet. higher than the revised net of $40,879,944 or 57 cents recorded in the final three months of 1968. Tuesday, February 10, 1970 Akron Beacon Journal yf Business Briefs Critic Elected Director A Philadelphia financial consultant' successfully challenged the management slate of directors of Midwest Rubber Reclaiming Co., which has facilities in Barberton, at the company's annual meeting in St. Louis. Albert M. Zlotnick, who complained about erratic earnings performance and cited a need for infusion of new ideas, won a seat on the board of directors, He replaced Carol A. Mundt, vice president of ACF Industries Inc., a nominee on the management slate. Zlot-nick's proxy said he is the third largest shareholder of Midwest Rubber, holding 12,983 shares, or 3 pet. of the outstanding stock. As reported earlier, Midwest Rubber net earnings for the fiscal year ended Oct. 31 slipped to $.391,191; or 90 cents a share, from $665,616, or $1.52 a share in fiscal 1968. Hunter Leaves Ford Robert E. Hunter, who resigned as general manager of General Motors' earthmoving equipment division at Hudson in April, 1968, has left Ford Motor Co. Hunter submitted his resignation as president and chairman of financially-troubled Phileo-Ford, a Ford subsidiary, and as vice president of Ford Motor. His departure comes some five months after his close associate, Semon E. Knudsen, was discharged as president of Ford. Knudsen named Hunter to head Philadelphia-headquartered Philco in September, 1968. Hunter said in a prepared ' statement he was leaving on his own volition but admitted there were "certain differences of opinon on policies." Denies Joint Venture General Motors Corp. dei.'ed a report from Tokyo that It is ready to establish an equally owned firm with a Japanese automaker or rutomakers. "There is nothing to it," a GM spokesman said regarding the report from Kyodo News Service. Kyodo said such a plan was disclosed by a Robert Rockwood, who it identified as a GM vice president. GM pointed out if has no vice president named Rockwood, but there is a Robert Lockwood, manager of forward planning GM Overseas Operations and, GM said, Lock-wood made no such statement. Big Blast Near Magnolia The biggest oil blast ever set off east of the Mississippi River occurred near Magnolia, south of Canton. Engineers set off 20 tons of explosives near the base of a 5,100 foot well. Output of the well resulting from the test is not yet known. Controlled Reaction Corp., Dallas, and Petroleum Tool Research Inc., Pryor, Okla., own the explosive technique that was tested. MB Oil & Gas Co., Canton, has leased the test ' site to Prudent Resources Trust, Great Neck, Long Island, N. Y. ,,, . .iiimimu, ,imii i. iiim.mniii mi ii-irni-ii-n-m-- i nr i i ' ' I , t ( til n "'-"vi Net income for the fourth quarter of '68 has been decreased $1,510,000 from the amount reported a year ago. This reflects revised quarterly results for that year giving effect to the change in method of computing depreciation on capital assets acquired after Jan. 1, 1968. DURING the October-December period, Goodyear did $828,834,399 in business, a gain of 6.6 pet. over the $777,630,229 in this quarter in the preceding year. Goodyear's biggest three months were registered in the second quarter of 1969 when it earned $43,171,000 or 60 cents a share on sales of $850,565,000. For the full year, profit climbed to $158,201,942 or $2.19 a share, up 6.7 pet. from 1968's $148,262,340, the previous high. Sales for the 12 months soared to $3,215,333,620, a gain of 9.9 pet. over (he preceding year's $2,925,744,887. DpYOUNG AND HOLT said it took 53 years, from 1898 to 1951 for the company to reach $1 billion in sales and 13 additional years to top $2 billion. It took only five more years, however, for Goodyear to become the first in the rubber industry to exceed annual sales of $3 billion, they added. Stockholders received 82!2 cents per share in dividends in 1969 as compared to 71 cents the year before. The annual dividend rale was in-creased to 85 cents in the second quarter last year, a rise of 10 cents in less than a year. The dividend rates reflect a .two-for-one stock split which was effective last April 15. The report also notes that 1969 marked the 20th consecutive year that amount of dividends paid out increased. FOREIGN SUBSIDIARIES eontribuled $18,535,410 t o earnings, a 25 pet. increase over the prior year's $38,767,844. Overseas income was equal to 30 pet. of the total profit. "The record foreign earnings reflected the results of substantial expenditures in recent years for expansion and modernization as well as market growth in essentially all areas of the free world," the executives reported. Goodyear's capital spending last year reached a new high of $203,307,653, up from the former peak of $234,510,511 in 1968. Despiie an apparent slow- down in the economy which may affect some areas of the company's business, DeYoung and Holt expect demand for automobile and truck tires to continue to rise in both num-hers and dollar value. To Get I'-fJ Slock Haek On Board Coleman Resigns Post As Parvin-Dohrmann Chairman NEW 1970 FIREBIRD HAS EUROPEAN LOOK Compact IVew Sports Car New Pontiac Firebird Flies Tontiac has converted its compact Firebird into a personalized sports car for 1970 in recognition of the growing popularity of this type of vehicle. The four-seater, which is to be unveiled in dealer showrooms Feb. 26, will be offered in only one body style a two-door hardtop, but in four models. With its semi-fastback styling, the new Firebird features the long -hood, short deck theme. Overall length has been increased 1.2 inches to 192.3 inches, Wheelbase continues at 108 inches. IN ADDITION to the standard model powered with a 250 cu. in. six, the car will be available in luxury Espirit model, the hi -performance Formula 400 and the Trans Am. The Espirit comes with a 350 cu. in. V-8 developing 255 horsepower and a three-speed manual floor shift. For the , performance-minded, the For- mula 400 is equipped with a molded fiberglass hood which has air scoops. A 400 cu. in. engine and dual exhausts are standard. The Trans Am is equipped with a Ram Air engine, four-speed manual transmission, power front disc brakes, rally gauge package and a full-width spoiler across the rear deck. FRONT and rear bucket-type seats are standard on all models. I The instrument panel has been designed so that any bulb can be changed in 60 seconds, Pontiac reported. In addition all instruments, Switches and controls are accessible from the passenger side of the panel for easy serviceability. The Firebird, previously assembled at the Chevrolet-Fisher Body plant in Lords-town, is now being built at Norwood, a Cincinnati suburb. BOX Promotes Adams J. R. "Jack" Adams, who started out with Dixie Ohio Express Inc. in 1951 as a rate clerk, has been named vice president of sales and operations, Clarence A. Kelley, president, announced. For the past year, Adams has been northern division sales rhanagpr for the Akron truck line. He joined Dixie following his graduation from Kent State University. In 1961 he was appointed terminal manager at Columbus and in' 1967 he became southern division manager. Adams is 40. The new vice president is the son of Mr. and Mrs. H. G. Adams, 212 E. Oak st., Kent, and is the Adams father of six sons and a daughter. Complete Final American Stocks Y.0R ' .Tld0mple"1 ,,. . . . ... ? Ih'iV) HM. Urn L.,t Ch Vd" Hi,h tow L. Ch"! (hd" Hi,h L.w U,t Ch NEW YOPK (AP) - Tuesday' complete American Siock Exchange prices Salei Net (Hdi.) High Low Close Cftg A-BtC-0 Acme Humil 76 5' 1 5' Acme Prec 1 ' 4' Adams Russl 6 7't 7 Admiral lnl 21 12'1 U'l Aerodrx Inc 9 114 IIH AeroFlow .30 7 II', ,u Aerojet .Ma 17 13 13' 9 Aeronca ,20q 7t 14' 13'i AerosolT ill 7 'i Arovn Cp J ISt Al Pnolo 17 8 Mi 8 Aiken Ind 4 S1 Vi A'leen Inc 80 3b' 35' j AIM Cos 17 4' 4 Airlift Intl 116 3 7H Airpax El .20 7 IS' 14V. Air West 21 10 1n Airwjrk B .75 8 U' 14'. Aiax Ma .10a 3 IV 23' j Alan Wd I AO 4 .U't Alaska Alrl 112 10 i Alaska Inter 215 IB 17' AlhaWald .24 32 Wa 12 Aldon Ind 8 7' 71 1 AM Am Eng I ' i ' Alleqh Airl II II Ifl'i Alleq Airl wt 7 - 6' i AHegCorp wt 13 8H ' Allen El .71 114 75"4 244 Allied Art 30 tlH 1044 Allied Contl 12 I3' 13"j AHovlnl .701 169 22"j AlriqhtAu .54 7 19-4 19' j Alpha Indust 4 4'i 4'i AHamilCp .20 28 6' 8 Alter Fds .50 2 144 14 'a Amco Indust 8 51 5A Ameco Inc 27 U'i 131 A Autvnd .20 a tH I'm AmBiltrlt .60 6 It's ll4 A BkStra 36t 17 74 7 AmRlrtqM 24 1 35'. 35'. A CentM ,35 12 20' 19s Am FlnA 1.1 0 7 t 15'. A Israeli .I7e ? S 5 Am Med .12 28 39t 3j Am Mol Inm 42 U It Am Pelr B5g 74 31 '1 304 A mPrecison 3 6"4 6 A RltyTr J3e 15 9' 9i AmSaf Eqi'i ?5 t 5" AmTech .) 9 IS 144 Ames OS .921 2 I4' U AM Kwf 274 8' 7 ArnpcoMI .60 I 1S' 18'4 Amrep Corp 71 3P'4 29Vj Andersnn ..36 3 1 6 "4 I6'4 AndreaRa 2 1 4 6 514 viAndv Card 7 3' 3'i Angelica .18 1 25 25 Anglo Laulro 12 2V 2'-i Ansul Co .3 1 S 10-1 Wm uinoust 72 4' API Inst ,lng 30 IB'4 Apollo Indust 1 S'Mi Applied Data 8 191 Applied Dev 29 9S Aawllain Cda 25 22 AouitnCda In 2 2I'1 Aram Inc 9 4' AriiCoiol.d C 10 ?0'j Ark Rst 3 0 2 Wt Arkl.f.as 1 7 0 27 26" ArroH Elect 12 I? '4 Arundel Corp 3 42' j A r wood .40 6 9H Asamera Oil 450 1 3' j A5PR 0.50b 7 17'. AssdBaby .60 29 I9' AssdFdSt .9 0 3 ik pssncroo .4 0 3 Beck Ind Beco Ind 1 Bell Electrn Belsrot Ret S' - H BergBrun .24 4 4 .. .. Berg B pll.15 7'i Beth Cp .30r 121 Beverly Enl II J4 1 Bicklords 11 '4 V4 Big Apple 13'i V Bishop Ind 14 '-. BloomlBI .121 9'a V. Bluebird Inc tt - V) Bohack .701 B'a boniny nd 8V V4 Bowmar Inst 35 Vj Bowne Co .16 4'. ' Bow Vail .10 Hi Bradtrd .60a 14J4 i Brandywin 1 9J4 ' BranAlrw wt 14'. i BrnlAirA .351 23'a "7 BrascanLI la ilH ii Braun En .32 9", Breeie I7H to Brit Pet .47g 12 . Bro Dart Ind 71I ' ' Brody Slg .16 6 vt BrkPerk ,2oa ID-. 1 BrwnFA .40b 6 . 8 4 4 24 - 'A II'. '-4 13' J - V4 BrwnFB .40h BT UEng .28 Buehler Cp Buelllnd .I0d Bundy Corp 1 19Ml 414 Burr JP .05q Bullr Av .20b Buttes Gs Oil (hds.) High Lew 114 14 14 1 17 46 B'a 5 9' a 16 75'-. 2 4IH 3 8 133 35 21 j 8'i 6'. 5 61 23V y' Vt 24 5' 274 9'a 15 19' 13"? m I7i SH 15' Jl't 20 "4 16 674 13 16V, 45 '-a 4"4 IIH 14' 4 7.R50 7 12 11 22 3 7 6 24 36 1 33 4 13 48 9 8 220 26 7 21 3 8 40 I 6 6 21 59 I7V4 8' 91 1 25'4 41' 8 34". 21 ' B'4 6 5" 6' 23'4 V1. 5''4 Ji'a 23 15W 25'. B7. 9H 14' 4 19a 13'. VH 17 14V, 21'4 20V4 15"4 6V4 13 I6H 45J'4 4 9''. I5V4 Last Chg. 14V W Byers .30a Wt . . Xabiecom On Ji 4- ' Caldor .941 9' v Calcomp 251. Campbl Chih 41H CampChib (n 8 ' CampbM .30 34'i V. CdnExp G8.0 21 Vj v. Cdn Grldoil B" Cdn Homestd tH Cdnlnl P 1.80 5' j Cdn Javelin 6'v .. Cdn Marconi 23' 4 H Cdn Sup Oil 9' U Canaverl .501 5' ' Canoga ID 72' Cap Ind .I6e 23 1Mb CapitolPd .15 15"i "4 J Career Acad 27'j 2" Caressa Inc 8'. "4 Carnal 1.40a 9H V4 CaroPipa .73 14'. lalCastleAM .80 19H Castlelon Ind I31 j Cavitron Cp 12 ... ICBK Agron 17V - V. Cellu Craft 54 VklCenMl pl3.50 15 ' CentSecur 2t 21 ' Vj Cenlry El .60 20' '. Century Geo 15'4 ;Centrylnd .24 6V4 ' Certified CP 13 lA'ChadMII .05g l6' ChampH ,16a 45'. .Charan Ind 4'. i4,Chatt GM .64 o. n Chelsea .24 15''. ' Christian Oil (hds.) High Law 3 9i 15 16"4 361 ll' im 9"i 5' 1 10' IS 23'4 lis S 31". ' 4 45 16 19 9H 34 17 205 10 37 33 120 18 10 41 59 457 14'. 16 25 II II1 9' S 10H 14 23''. II "4 4' 'k 5H 43". 16 IB1 9 S 111'' 110' 111"? 1 1 !5"j !5'4 15'4 20"i 5'4 i ll'l 46 I9U 25"j 4'-l 10' 9 9 19 4 12 10 14 91. . Cinerama 14' l'!Circe K .40 16 CircullF 1.59f 251, i, Citizens F .32 IIV4 'A ..-U hi Hi., ... ClarkCbl .05g 91 1 Uarkson Ind 5 1 Clary Corp 10 ' Clopay .821 UV4 1 CMI Corp 2314 1,4 Coburn .30 1 1 ' 4 ii Coif Mat .I5t 4' 1 CohuE.ec .15 31 a Cole Drug .25 9 14 N" '44 54 1 Colecolnd .01 44 s, Coleman Co l6 Colon Snd .30 Ifi Hiii Combustn Eq oi A .umincw 21 '4 6 19' 5 nvi 46 19' 25'i 4"l 10 4 9' 10 1914 4' 12 10"j 151 40 COmlMII 60b Comndor ,02e I Z Compolnd .32 is- - s??:?.?:?,. 5 11' ... 46 ... 19' .70 CompuDynt Compul Appl Compul Eq Comput Instr 25". -m 'Compul ; Iny 4H i"1"' 10' Comp Sottw '4 4 16', S 19 9, 20' 21 'i 4 70 "4 I5' 36 "4 12'. 24"4 ' 12'4 13'4 184 4H 141 5- .. I3 - H 8H .. II1 - 7 - 1.1 35' .. I9M I5' - ' 5 .. . 39 - ' 24 - V. 31 - ' 6'4 9', S"4 - lit ' 14' - 4 I4 - . 7", 18' l 29". -IH. 164d , 6 i 3' Vi 25 'j 10' '. ' 4 - V, : 16i -l' 5 ' 19"4 11 Oppose Hearing Plan On Phone Rate Hike Asirex lc Astrodala Atro Chem Alhlone Ind AticoFIn .41b AtCLCo 1.20 AH Rich! wt Atlas M 3 05a AtlasCorp wt Aueal Inc Austral Oil Autn Rldg Auto Data Pr Automat Rad AVC Corp .50 Avco Corp wt Avien Inc PACM Indusl Baker Ind .74 Bald DH 1.20 Ball Co Banff OH BangPunt wt Banner Indus BarbLynn 32 Barnes Enq irnwll Ind arry 810 iarryWrt .18 Bartell Mad Barrh SB .13 Barton Cand Ijruch Fosl 5' 890 I314 16 3' 31 33J 2 3". 26 14' 4A 31 s 19 2" 204 34 21 26'4 31 10' 42 't 42'' i7 10s V 22 "4 17 80 22 1 32 7 10 15 2 4 54 5 7 ; 3 f Si 16 4 J 4SV4 70 16' 5 3'4 18 '. 25 '4 43 7 10 4V 7 9H 14' 4 6V 13? 17Vj IH4 9 9'i I 5 9 14 21 - 21"i .... 4 4 20' I 16' ... 26 - V4 I 1234 '4! 42' 1-4 j 9' - W, 3"t ', 12"4 - V; I8V4 - '4 I 4-Ml Vt, 42' . . SU ' 11 -2 3H - ' 72 ' - V 17 '4 23' 23'4 14 14'a 14'. '., 3IH H 2H ' 32". ' 25 - St.: IOV4 - 44", 19' - I 16' - ' 5t 'i 3V, - ', 17', - 1 75 4744 v, 6' ' 10 - m 4t - 6 4 14 9 ' 14' V H' - 13' - ' !' -1 lis .... 9"4 . 9"4 V4 5 31 7 37' 25' 10 44' 19M 16 . 5f 3 17' 34' 42'4 6't 10 4H 6"4 14 6V, 13', 1"l lis 9"4 9'4 5 From Beacon Journal Wirt Service Opponents of a proposed $80 million a year rate increase for Ohio Bell Telephone Co. today challenged the Public Utilities Commission plan for hearings on the new rales. The opponents said the PUC plan adopted last Decemebr calling for a fieries of hearings was prejudicial to opponents because it would make cross examination of company officials difficult. The commission accepted the motion of the opponents fighting t h e company's first rate boost in 10 years and recessed tint il this afternoon to study the mailer. THE INCREASE is bplng opposed by the cities of Akron, Cleveland, Columbus, Dayton, Struthers, and Toledo, by the United Auto Workers and a number of retail merchants. The company seeks hikes of $1.30 to $1.85 per month for residential telephone service and $1.65 to $3.35 a month for a flat-rale business line. Ohio Bell wants to make the adjustments in 47 communities. cities and THE RATE increases would bring in an additional $80 million a year needed to meet rising labor costs, taxes and interest rates on money for growth and modernization, the company said, noting that half of the additional revenue will go for taxes. The PUCO hearing is expected to take many weeks and decisions on whplher to grant all, part or none of the requested increases are not expected for several months, commission officials said. Ohio Bell has said it will call 15 expert witnesses and submit additional information In writing to support its contention the rate hikes are reasonable. TO TARTIALLY offset the rate hikes, Ohio Bell has said it plans to reduce the monthly charge for residence extension phones from 95 cents to 75 cents, a $2.25 reduction In the connection charge for portable sets and elimination of the one-time $5 charge for Princess and Trimline telephones. lv. - V ConcrdF .10 19V. V Connc C4rp I Z v Conduclron ,? Connelly Con ;i Conrop Inc Jin. LL'tm Con Cdn Far I Con Oil Gas ICon Refining Cont Mater , Cook Elec .30 Cook Ind Conpr Jar .50 Coro Inc iCorrBIck .66 Cosmodyne I Craig Corp Creole P 2.60 ; Creslmonl iCromptn 1.40 I CrowleyM .30 'CwnCPet .701 j Crystal Oil Cubic Corp I Curtis Malhl Cutter A .44 Cutter B .44 Daltch 20e Damon Corp DemonCr .40 Danitlln 24g Data Conl Data Process DataProd Cp DayMIn 15g Oaylin .34 Daylin wt DC Tran A Dearborn CP DeJurAm .30 Del Labs Delto-.a Corp Deltown Fds DeroRsch Dv Deserel Ph Deleclo S .75 Devon Appar 30 I Jl 8 17 3 72.1 13 18 14 6 1 290 2 4 9 70 35 83 2 22 31 I 1 12 16 13 3 4 68 77 7 7 12 10 19 3 7". 24', 43H 15' 9"7 3 19 S'4 11', 2744 74-4 22 13', 10', 35'-4 17'4 30 V 9 364 304 I7"4 13' 22', 12' 12'-i 6 8 9', 8"t 10"4 25 70' 10 '4 11 19' 14' 74'4 9H 7' 24', 4244 14", ' S'4 18 8' 11', 27' Vi 22Vi 13 104 25 l64 30", 8 35 M. 30 17' 134 22 '4 12' 12'1 i' 7 S' 10' 24', 70 ion ll'4 18s. 13' 74 9H 7i V. Emery In .30 24', 'VEmpFin 1-361 42J4 I I Entron Inc 14(4 Vj .Fpko Sh .80 9'4 '.iEquitvCp .301 54 'EaultFd l.;6f 19' V4 Ero Indusl 8'. ' Esgro Inc liv, ., .. Espey Mig 27'i ''Esq Rad El 7', I Essex Chem 22H Els-Hokin CP 13 Execulon .24 104 HExlendcare 25 - ' 16' ', 30' 1 9 H 35' ... 30 1714 i, 1 13 - V, 22' ... 12' ' 12' - ' 5' - ' Vl i, 9', 8' - '4 10 a - '4 35". 70". I0S Fab Indust Fabien .40b FairNob .16b Fairmnt .lig Falcon Sbd FamRecd .60 Fed Resrces Federals Inc Fed Mart 4.0b Felmont Oil Feltway .33 Fibrebord wl Field Plastic Filmway ,20d FlltrDyn .01g FinSanBa .20 '.'FlnlGenl ,24b FslConn 60a FirstNII Real U'4 t Ft N Rl wl 184 . , iFslSLSh .Oie 14', FischPrt .631 7"j Im i Fleet Enl .16 9k I F lowers In A 13 2 9-16 2 7 16 3 7-16 ... I Fluke J .321 4 74 7V 7'4 H Foodrama .X 16'4 ', Ford Can 2 1' V Forest Cil .25 2s, ',ForeslLb .371 10' Four Seasons 8 ... FranklMI .10 9' H Frank sNu 60 334 ... (FranchP Can 201 - VljFresnillo Co 10' - ' Friend Frost 10. - a Frontier Air 26 Fr0n Air w 64 ' Gabriel .691 2l,' Garanlnc .36 Car and .60 Digital Equip DillardD .10 Diodes Inc Dlversey .50 Dixllyn Corp DMH Corp Dome Petrol Domtar .60 Dorsey .10 DPA Inc Drug Fair .40 Dunlop .19g Duraloy Co Dur Test ,25b Dynalectrn Eagle Clo .25 1 E Stheih .64 i Earlh Resrct ! East Air Dev i Eastn Frt W Earor E0 , Eckmar Cp ECL Ind 1 1 f rologlc Scl I Edo Corp 40 Ehrench Pho Elco Corp Elcor Chens Eleclrnqr 1 Elec Assist (fleet Comp El Eng 1.251 Elect Retrch E lactron .60 Electsp 1.311 Elgin Naf wl Fl Tronics iEmeneg CP 85 10 25 81 6 I 2 1 II 765 30 34 1 4 3 S9 20 5 23 4 29 73 4 7 16 32 113 21 123 12 17 12 6 9 242 1 15 2 14 18' 15'-, 2'4 11 8' 9' 34 204 10', IIS 36 64 37' 6' 23 74 17' 64 37 34' 9', 65'. 84 16 10 23' 21 15' 19 7'4 2't 21' 9t II '4 44' 16 144'4 2 10 6 9' 33' 20' 10' 10 25 '4 6 27'4 6", 22' 7 17' 6' 26'', 24' 9', 64", 8' 16 10' 22' 20 14' 184 7 2 21 9' 11' 41' 64 34 38 II 2 76 187 7 2 S 95 8 5 74 132 3 12 3 2 10 12 36 8 4 12 6 14 14 10 19 4 42 3 S3 72 8 68 204 8 10 3 180 I 70 209 12 6 17' 16V 6 15' 4' 4544 10 104 8'4 19 4S 4 18' 294 ' 12', .. 6H 7 5' 10' 23 7 ' 17' 6' K? Gin '1Z - , Gen 65' GateSpGd .20 GayidNal .30 GCA CP .711 Gearhart .24 Alloys Gen Build G Employ 24 Gen S4 - 1.1,. . L in, 1 Gen 2214 -IV Interior Plywood Ind 204 t, 144 4 GeniscO Tech GerberSc Ins a a. a. lr innusi 1 1 Giant Fds .50 1 Giant Yl .40 l 1 GilbrtCO 10b 91 v Oilbart FHI 11H GL Ind .911 42'4 -2' Gladding 44, Glasrock Prd 19V, 19 19 uienuer ,,ua 1 40',74O',4n' V4 - 6S ak Goiclhlail .36 16-v 16", 16' .....iGoidiield 50 119 115' 1'9 42 ooodway 1 1144 ll't ll"l "4 Gonnslnc .50 5' , , uouin wi 17 . Granger At 20, GranMgl .761 15 - Gratt Val Gr 84 Gray Mlg I3' - V G1 Am Ind Hi t4 ot Batn Ptl Vt ... GtLak Chtm 79' Greenman " ! Greer Hyd lg '! Grtyh C ,20g v', GrosoTlct 90 8' 't Grow Ch ,32b Gruen In 251 9' GSC Enlerpr 27 V, Corp 91 V Guardian Ind 14i, GuardCh ,50b 5 vt Guerdon Ind 6 ... Gulf Can 60 10-1 "4 Gulf St Ltnd 271 Gulf Wind wt 251 HB Amer 154 4- H Halls Motor 1 24 .... Hamoph Des 10' Hempt Sh ..13 8' V Harnischlr 1 18 Harttld Zody 7V 14 Harvard Ind ' . - '1 HarveyGr .13 11' V Hastings .40 8' - V ()P,d ski Co 14' v, Hecks A 70 2:", ' Hemlcka Insl 2' . ' ' ' Vt 18 174 6", 15', 5'i 47 in1 194 8.4 2044 41 4 19' 30', 12- 6' 7 7' SH 11 Vt 6", SJ ", UV4 11' 24 IIH 84 13't 14 "4 18 14' 16'. S'-t 3'4 m:, 24'. 20' 14 -4 114 16 35' t 16 22' SI", S2J-4 22', 34 I 7-16 12 2?', 2 5'. 7 ' 1 3H 34 S 134. 13' 4 II 9' 10'. II", 294 144. 44 161, 7 18 V' 7'4 484 S' 35 3 9'4 14 10'. 23 '4 11' , 8 13' 14 17', 14' 16' 4'. 2'.. 14 23 20 14 10 '4 15' 55', 164 21' 50', SO-' 21 4 8' 21' 5.1,4 6 17'4 - ' 16' 1 6' 8 15' ' S - V 46't V 10 - Vl 194 8' ... 19', I' 4H 4 18"t - ' 30 ' 121 Vl 64 7Vl .... 5' - ' 10'. - 64 .... S - V. 91 14V. ' II - V. 74 '4 ii' - '! 8't - i 13V, - 4 14 14 17' 4 W l4'4 ... 16' ' S t 3Vi 8t 14',. V.! 23' - 4 1 20' - V 14 - H 11 - : it 55' .... 16 '! 21' - , SOU -I I 52 1' 12"t 8' .. 1 22'4 4 S'l V , By ERWIN MAUS III Beacon Journal Financial Editor Delbert W. Coleman, former Akron lawyer who became one of the nation's most controversial businessmen, has resigned as chairman of troubled Parvin-Dohrmann Co. The move was expected. Five weeks ago it was disclosed that Coleman's withdrawal from the company's management would pave the way for a resumptior in trading of Parvin-Dohrmann stock on . the American Stock Exchange. r-D, an old-line hospital supply eonipui.y which in recent years became an owner-operator of three Las Vegas gambling casinos, has been in trouble with the Amex, the Nevada Gaming Control Board and the Securities and Exchange Commission since early last year. Trading in P-D stock was suspended four times last year, and has not traded at all since. Oct. 16. Most of the regulatory difficulties stemmed from the company's free wheeling operation since Coleman's official takeover 13 months ago. TARVIN-nOHRMANN'S efforts to free itself of the SEC trading suspension sparked a national political scandal last Fall when it engaged Nathan Voloshen for $50,000 to intercede with the commission. That disclosure led in turn to the indictment last month of Voloshen and Dr. Martin Sweig, associates o f House Speaker John W. MeCormack, on the influence-peddling allegation. COLEMAN himself and 15 associates of his were named in an SEC case filed Oct. 16 in federal court which alleged that they had violated federal anti-fraud laws. The suit asked that the Coleman group be enjoined from further alleged violations. Coleman and the president of Parvin-Dohrmann, William C. Scott without admitting guilt agreed to refrain from any further activities complained of. NOW, Coleman's resignation is regarded as a major slep r a DELBERT W. COLEMAN toward restoring the company to the good graces of the regulatory agencips. It comes as part of a new management team taking over Parvin-Dohrmann. t Replacing the t w o - ma n board of directors consisting of Coleman and Scott is a four-man team: George A. Fry, William R. Hamilton, Lester B. Knight and John A. Trosser. None of these men had any previous connection with the company or its officers until Coleman and Scott invited them to take over Parvin-Dohrmann, t h e company's Monday announcement said. UNDER the new-management agreement, Coleman has surrendered his voting rights on the 207,300 P-D shares he owns to a two-man executive committee of Hamilton and Prosser. The agreement also provides that Coleman will try to sell his holdings as soon as practible and in a manner which won't unnecessarily influence the market far the stock. COLEMAN practiced law here for a time in the early 1950s before beginning a meteoric business career that reached one of its peaks with the takeover of Seeburg Corp. " He resigned the chairmanship at Seeburg in the Fall of 19fi8, then arranged a few months later to acquire 300,. 000 shares of Parvin-Dohrmann at $35 a share. He formally became chairman of P-D Jan. 10, 1969, after selling part of his holdings to a eentrol group without the prompt disclosure the SEC insists on. MEANWHILE, the stock zoomed upward, reaching a high last Spring of $141.50 a share when Denny's Restaurants announced a tender offer for P-D stock. But as P-D's troubles mounted with the regulators, the stock slid to $69.62 Oct. 16, the day trading was suspended. The Amex, responding to the news of new management, said Parvin - Dohrmann trading would resume next Monday. c Business Trends Sherman S. Newar, president of Sage International Inc., Houston, announced that the proposed merger with Cook United Inc., Cleveland, has been terminated by mutual consent . . . Dow Chemical has reduced the price of its general purpose blow molding grades of high density polyethylene to 11.5 cents per pound in bulk rail cars . . . GMC Truck & Caat h Division of General Motors will build a new medium-duty truck assembly plant in Pontiac, Mich. . . . Masnnitti Corp., Chicago, is acquiring Molalla Forest Products Inc., a $10 million firm . . . Penn Central ordered 93 diesel-clectric freight locomotives from General Motors and 19 from Gener al Elertrip at a total cost of about $23 million . . . Monsanto Textiles Ltd., London, subsidiary of Monsanto Co., St. IOuis, plans to expand its British nylon capacity by 33 pet. . . , Gelfy Oil Co. informed Ford it is prepared to make a lead-free' regular grade gasoline as soon as auto makers produce) engines that can use it and reported that a lead-free premium grade is about three years away . . . Boeing; said it is not continuing discussions involving manufacture of French Mirage jet fighters under license from Dassault, French aircraft manufacturer. 3-1 - ' 13'-4 - ' 10 "4 - 9' .... 9 ' - 8 II) - Vt 294 13' V 41 - ', 164 -' 74 18' - ' 94 V 7Vt - Vl ' 47' J V' J4" - 23 14 39 2 8 6 S3 5' 12 29 204 45 15H 884 14 14 30 16' 8 29"! 4"t 1", 10' 8' E-F-G-II S't 17 19' IS 84 134, 154 7't 29't 4' . 3", 9' I 10 19 16 1 1 11 6 330 17 3 37 7 3 6) 5 I 3 37 46 30 27 2 10't 37' 9' 14' s 1 6 10' 22V 25' 154 34 10" 8't IB 8' 9' 11' 8' 14'. 2314 34 8 "4 ' 9'. 311 9' 14", s 6 10' 221 2S"4 I4 23' ' 8 '4 17'. 7H 9 11' 8' 2' 2' 7'. 64 1 0V 9't 9. 1I 294 13'. 44 16'4 7V, 18", 9' 7H 47'. 54 34', i'.t 4' 4' 4 24 23' 23' - 1 36 7' 74 7' - S 8'. 8 8' '; 46. 2V.2S..,.2t"4 1 I 2 20i 201 30V 1 I 124 11 10' 11 - V, 28 9V 9' ' 1 11' 11' 11' ... ' 4 14' 14 14' - ' 2 8 . 8 8' 62 4". 4 4 ' 16 IS 14' 14' ... I 8't 8't 8' - V It 7' 74 74 - V J S't 5 5 4' t 17' 16 I6V1 - A 14 17M 16 V, 16' I 12 t 8 8Vt - ' 59 3' 3i 34 VI 23 S 5' 54 .... 309 I3H 124 124 14; 95 18 17V 17S, Vt 7 134 13' 1 IS' ., , 42 13 111 13 Vi 3 15' I5Mi 15V - ' 1 9. 9". 9' - lt II 6' 6 t 6' a 4 4' 4' 28 S 44 4V 14 3 76 I 6 46 65 10 57 10 5 7 I 3 1 7 103 306 38' 14' 21"? 17' 4", 5' 4 25 12 12' 64 18H 19'4 9" I", 1H 11' 27 11' 14 Jill 17', 44 S 34", 12 II", 6H 18' 1?'4 9"4 8 71 II' 76 12V4 38V 4 1 1 I4f. - 1 204 -1 17' ' 41 - ' 5 - ' 34 ' - t 12 .. lis - 14 h - ' Wi - H 19' . 9' 14 8 - V4 7 . 11' . 27 H I2'4 -1' I Kce t'O.,4 LL'i'L, Page A-18 1969 AWARD WINNING BUILDING! f7 1 I'J ,;... in tmmmmmmmmmm Mining Mochmt Co., Medino, Ohio Mining Machine Co., Medina, Ohio, was selected to receive ARMCO Steel Corporation's annual "National Award of Merit for Design." We are pleased to publicly acknowledge this recognition, and extend our congratulations to Mining Machine Co. Previous awa.d winning buildings designed and constructed by us are: 1965-ElMiR BREYLEYI OWNER im-BEARINGS, INC. 1967-PPG INDUSTRIES, INC. 1967 SNEUER MACHINE AND TOOL CO. 1968-MARKS TRACTOR NORTH R0YAIT0N PAINESVIIU TWINSBUS0 HIGHLAND HEIGHTS BRUNSWICK ENOlNCCItS and CONTACtOS RAY FOGG BUILDING METHODS, INC. 4DI3 VAN EPFS ROAD, CLEVELAND, OHIO 44131 AREA CODE 216 351 7076 Pleast send me mot information obout ARMCO j Steel Buildings (or the following use ond sizes I Nome , j I Addtess : j ! City Zip J AUTHORIZE DttLtl Armco Steel ARMCO Buildings V i

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