The Los Angeles Times from Los Angeles, California • Page 12

OIL NEWS BUSINESS AND FINANCE Walker's Store in Change Stocks Rise After Early Irregularity NEW YORK, April 12 () A recovery by industrials napped the stock market out of early Irregularity today and gave It another advance. 13 SATURDAY MORNING, APRIL 13, 1957 Wool Futures Pace Upturn in Commodities Minute Maid matal mlii44 tadar flai Management Group to Meet Hundreds of western business and Industrial executive will convene in Berkeley next Tues. day and Wednesday for the 3Tth Pacific Coast Management Con ference at the Claremont Hotel. The employer meeting Is called by the California Person-nel Management Association and the Western Management Association to explore the recent problems and practical solutions growing out of the In creasing aemanas confronting company managements. Outlook to Be Discnssed While the azenda is orlnci- pally concerned with the chang ing suns ana competency required today in managing a business, several prominent speakers will discuss the economic outlook, recent automation tendencies at the management level and the concern of private employers over the re cent union investiRatlons.

More than 30 urgent problems encountered by western busi nessmen will he presented to the two-day management meeting and discussed by 23 national and western business leaders. Walter B. Slegel, personnel and industrial relations direc tor, Soule Steel and presi- aenc or tne California Personnel Management Association, will welcome the delegates from practically every class of busi ness and industry, from the eight Western States and Ha wall. LA. GRAIN Oufltktlont neniBkl.

luMiet ta mftrktai itwtuftiiona- vtin pnees per Ma. la-daribrt. 2.9S IT3.02 Cam. Tn Barter Mllo 2.70 V3.7374 CAS SICIIPTS Wheat. 1: barley.

1: enrn. 9: mftA 4. na, 44a. HAY PRICES VM. No.

1 ne erm. 33.0An 34,00: U.I. No. 3 ltUfir niw crop. 31,00 M.

No. 25.boo37.oo. Oftln htr: lo. 1 oati. tvo-vln bait.

fo. 1 otu, urae-vlr bill-, 3.00J3l.O0, NAVAL STOUS SAVANNAH. April 12 UT Oum' naval todar: lTiielptaTurim. tine. 99; roiln, none.

fihinmatnti Dentine. 73: rwln. nont. Btoelu PflBimi. eoa; rMin, aw.

It was a moderate rise but on fairly good volume. It helped to give this week the biggest weekly advance on average of 1957. The recovery began around midday following news that the Senate Finance Commit tee had voted an Invest! tion of the nation's financial condition, including interest' rates. High Interest rates and tight! credit have been depressing' to Wall Street for months. News of the Senatorial probe gave hope to investors that this bugaboo might be removed or mnH.

erated, brokers said. The result was a recovery, although a rather mixed one. Leading Rails Spotty Some but not all major steels moved ahead and the same applied to motors, oils 'and aircrafts. The leading rails were spotty. Utilities, the safe, aeiensive issues wmch enjoyed a rise while the rest of the market this year was in the doldrums, did little.

Some selected Issues made! rather wide moves up or down) in response to individual corporate developments. The Associated Press average ef 60 stocks rose A of a point 178.3, with the Industrials .8, the rails down .3 and the utilities up 2. 78 New Highs Of 1162 issues traded advances outnumbered declines hv 7fl tn 444 Thar-A wr new 1957 highs and 21 new lows. Volume totaled 2,370,000 shares, compared with 2,350,000 yesterday. Of the 15 most active Issues nine ras and elv foil Bethlehem Steel was the most active stock, on at 44V4 on 43,000 shares.

Second was General nvnamlr nn 1. at on 34,100 shares. Third was uenerai Motors, up at 41V4 nn charae St Regis plummeted on news or a snarp decline in earnings. After the close the company announced a cut In its dividend to 35 cents from 50 cents. California Leads in Vegetable and Fruit Canning SAN FRANCISCO, April 12 California cans and freezes far more fruits and vegetables than any other State in the nation, says the Department of commerce.

Th riffnarf.mntfa Ran Wnt Cisco field office released figures lor IBM snowing that California's 197 canneries shipped SMB OOOOOfl worth of vnnH fruits and vegetables more man aouoie secona-piace New York, witn srupments worth California canneries employed worxers mat year, tneir payroll amounting to of Management Director! of Walker's De partment Store of Long Beach have authorized the purchase and retirement of the controlling stock owned by Howard Conrad, presi-; dent, and the holdings of Clarence Miller, vice-presi-i dent and general manager, it was announced yesterday by uonrad. Conrad said he is retiring as president, but will remain as a director and a management consultant He Is being succeeded in the presidency by Joseph F. Bishop, formerly eon troller. Leo C. Malco, formerly merchandise manager, has been named vice-president and general manager.

Miller Is retiring completely. The new board of directors consists of Howard Conrad. J. F. Bishop, Doris Bishop.

Leo C. Malco and Elaine Malco. Upon retirement of the Con rad and Miller stock, capitaliza tion or ine company win consist of 578 shares of common, owned equally by Bishop and Malco, and 1400 share of 7 preferred 6tock, owned by employ ees 01 int store. Volume of $5,000,000 Walker's, which currently Is doing an annual volume of around $5,000,000, recently sold its Los Altos Shopping Center to the Broadway-Hale Stores. Conrad started his career with Walker's in 1910 at the old Fifth Street Store in Los, Angeles.

In 1924 he became the principal stockholder of Walker's Fifth Street Store, and in 1934 went to the Long Beach store as executive vice-president and general manager. Upon the death of n. M. Walk. er in 193a, Conrad assumed com plete management of the store.

He became president In 1951 upon the death of Mrs. Eliza F. walker, widow of the founder. He acquired 95 of the common and preferred stock in the set tlement of the Walker estate. The preferred stock was sold to employees, and Bishop, Malco and Miller each acquired 289 shares, leaving Conrad 961 shares.

Standard Steel Awarded United Nations Order Standard Steel Corp. of Los Angeles has been awarded a con tract from the United Nations' Korean Reconstruction Agency to build two flBh canneries, flsh meal and oil reduction plant and associated equipment, ac cording to Robert S. Burns, president Tnese two custom-designed canneries will be assembled in Korea under the supervision of isowara uavta, technical consultant for Standard Steel and former cannery executive of Monterey, Cal. David spent several years in Korea with the United States Army boosting nsn production after the Korean War. The equipment will be shipped by Standard Steel in early summer.

About 50 people will be em ployed at each cannery and each unit is rated at 1650 pounds of canned product per hour, al- inougn mgner proauction is ex pected, one plant will be located on the Isle of Norado off the southern shores, the other In Pohang on the east coast The fish meal and oil reduction plant win also oe at fonang. Stock Boosted DETROIT. Aorll 12 Share holders of Ex-Cellc-0 Corp. to day approved an increase in capital stock to 10,000,000 from 5,000,000 shares. Texaco Plans Rosecrans lest Well BY ROBERT J.

SULLIVAN Times Oil Editor The Texas Co. plans to drill an extension test well in the Rosecrans-Athens area of Los Angeles County. The company will drill How ard Park No. 1 as a westerly extension try near Hoover and 132nd Sts. The hole will be on Sec.

18, 3-13. Norton Wiliest Nordon Is prepar ing to test its wildcat welt, Aeco-Bonsall-Crawley A-l, in the Bandlni area of East Loa Angeles. The well has been drilled to 5048 feet and an electric log has indicated promising thicknesses of Upper and Lower Meyer zones, according to company officials. The company has 220 acres leased In the area. Buttonwlllow leasing The Texas Co.

has leased 1546 acres of land In the Buttonwlllow area of Kern County from Southern Pacific Co. The lease extends northwestward from the old Buttonwlllow gas field, which was discovered in the '20s as the first commercial gas field in California. Texaco signed for portions oi Sees. 23, 25, and 35, 27-22, and portions of Sec. 31, 27-23.

Oil Note Union Oil CO. brought In an other well on the Waite lease at the northwestern tip of the Buena Vista Hills Held, com- Sletlng Waite No. 65 for 160 arrels a day of 27-gravity oil, cutting 4, from total depth of 3880 feet Southeast of the Paloraa field Continental Oil KCL No. 55-8 is drilling ahead below feet. Conoco hopes to find production in tne Stevens saner.

Great Lakes Oil Shows Profit Great Lakes Oil 4 Chemical Co. yesterday reported for tht year ended Dec. 31, last, net Income of $87,106, equal to about 2 cents a share on the 3,117,571 shares outstanding, compared with a loss of $1,056,931 in 1955. Gross Income last year totaled $1,029,885,. against $854,005 the previous year.

The major improvement In income occurred during the last six months of 1956 when oil sales resulted in a 55 Increase in gross income over me UKe perioo. 01 wanes s. Haie, president, re- I ported. Allocation 8ocurlU Cealere. inc.

Bid Aaked Bid Aaked Faptr 3.S6 Fetral. 3M Speeltl 2.86 TraneDort 3.12 li 4.27 12.94 j.66 3.15 344 11J6 7.11 6.77 5.70 7.B0 Uanhat Band 7. IS ,64 Man uv Tr ,8 DO Mail 14.98 8.58 10.16 6.91 Mut Inv 9. 11.19 lutuai an it.n luteal Tr 3.3S 9.01 11.96 3.59 6.19 NBt-Wld Ban IB 16.73 Natl Inveet 9.J6 6.79 10.84 19.46 4.48 9.70 18.03 nat oao ear: saianea 10.16 11.10 4.60 S.90 SJJ Bona 6.37 i1 Dividend Fl Stock income stock 66 0.7 16.84 4J1 4.18 17.36 4.61 S.73 I0J6 9.40 9.87, 11.20 11.86 Orowtb fi.22 New lux Fd 24.32 33.82 2.49 van uan Jl.ou OB sharta 9.72 onl.4 See la.12 38 JO 10 J2 14J8 968 i.h 1.60 Phlla Fund 8.87 v.u 10.33 na st rd 31.95 loneer Fd 14.4S 10.B7 11.O6 Price orawth 31.11 Puritan Fund 8.46 Pltnem 3ea 12.41 1Z.10 7.67 14.11 5.16 10.05 11.29 6.97 13.64 12.76 60.78 1.1 7.01 ISeleneediNuo 11.74 Bcudd.r Can 48.50 Boudder Starb 36.43 Do Com Btk 23.86 4.72 ib 10J3 b.b 31.00 Selec Am Sh 8.69 Bharebldrs Tr 11.30 Smith jdun 13.90 Saweat Inveet 12.16 Sovtreum Inv 13.33 StaU St Inv 37.79 MS Witt 1233 15J3 I3J9 133l 9-? aa.BJ x.w 17.30 1IJ8 10.12 11.05, 1. 61 B.1 10 ia.l us 9.87 13.42 17.021 12.68 impis can 23.: runn 12.17 13.17 86.8 12 A7 6.09 9J6 14.00 10.45 ii.vu 4.vi 8.44 DO II 42.80 10 Van atrumoiT 8.22 3.51 3J9 3J9 wan st inv wean Mut Welllnatan WbltebaU Fd 11.65 iwlsconaln Fd 1.17 BUSINESS THB 7.

ii-? 55 10.4B 14.99 tsriSi IS Tffl unit Aecum 11.28 12.23 Onlt cont Fd 8.04 84 Unit Income 9.98 10.92 Unit Science lOjs il.BaV finlt Fd Can 16.93 Value Use Fd 6.93 6.41 Do Income 5.61 6.13 al Bit 3.77 3.01 10.83 11.79 in MB inv a.ax v.aa Fd 12.99 14.18 12.5i ia? ifeMil a 'twi. IS cant a pouni Cait Al Laa3a. Tin, erw i era. rortien IK oanti oar i troi 07 OUBCf. 'ark.

LDBdoA aMi aa la -lino. ananaao FLAX uootiapous. Aim a uwiu n. mw romc Asm 12 upv oomaitlo Bsar tuturu No. I doaeej 1 to 3 hlfMr.

ar. I.tik: Julr. Mto; tasteBberTSJS. world tuiar luturti Mo. eloeaa.

3 lower to 11 nuraor. atav. ni7. iwer ts 11 nlaber. Mar, SaSI 11: Saatamaaa.

siki r. KAlAdant rv.ta. oar. a.y; Arch a.SBt UaT. AMU Julr.

4.2n: Saotamber, jsn. Raw ntar epot. 9.100, RUM. HEW TORK, Anil 12 v-Rubber rex turn eloiad. 9 to 19 lower.

Mar, ,10: 3ol, 33.09W teptambar, 1145b. nooeu anosaa 09.BO; saci LEAD XI mc eoepia HZW TOMC. AuU UV-Uad tune Zla llAUd duiet, no too luturae elsted eulat. ns aali Cam er luturei clcied id r. 29.

391 to lowar. Mar, i.at; nmtemocr, jun: u4Hm. January, ISDIb; MarcB COTTONSIID OIL MCW TORK, April 12 UD Slaaehabl cottoniaed otriuturei cuied lower hUhtr. Mar. 19.i5lji5.7S: ifli Seottmber.

1947C1Sj)0: October, I December. ls.l4bi March. Mar. 19.04b. oelni bldi: Januarr, 15.14n.

WOOL NEW TORK. AnrU 12 Oh SUnewtd trenath In wool tope luturae at London and a price booet In woretad Bosda United statu manulaeturan braiiahi actlre burins into wool topi and wool luturei. ftiturea elaaed 2J ta 2.7 eental wool hlahar. Mar. 190.91 julr, 199.9bi Oeto- 199.0b: ueccfDDer, auuw.

195.0b; i Mer r. lee.uo. Certuijati WOO) tODI wool mot. 161, tAB4 futnr.a el044d 1,8 ts 3J 44nt4 hwhar. 444V.

1H3.4D: JUIW. 1.4. 3.U1 October. 191.1 lb: December. 190.0b! Marcn.iBB.4b.

per aated epot wool topi. 1: Nominal i a Aikad. COCOA NSW YORK. AnrU 12 (DJ Coca luturae todar clotedT 19. to 39 pstnU hlBher.

Mar. 13.TC; Julr. See- temper. uecomwr. ataicn, 1999, 29.13: Mar.

25.37. Sale. 351; lota. Acer epot, 29ttn. Westinghouse 1957 Sales of $2 Billion Seen Westinghouse Electric sales this year may approximate 2 billion dollars, resulting in earnings a share of $3.50 to: $4.

George G. Main, treasurer, of Pittsburgh, forecast ati luncheon meeting of the Los Angeles Society of Security Analysts at tne uuimore uoiei yesterday. Tnis preaiction is Dasea on anticipated earnings a share averaging about 25 cents month ly in tne nrst nau or tne year ana 40 cents a montn in tne last half, he said. "If we earn at the J3.50 to, $4 rate in 1957, then 1958 'should establish a new level of. earnings for us.

Main stated. The forecasts, he said, are In anticipation of favorable eco nomic conditions. Shares Registered NEW YORK. April 12 Port 'land General Electric Co. today filed a registration with the Se curlties and Exchange Commis sion for 300,000 shares of its common stock.

The company, proposes to market the shares publicly through an account led by Blyth inc. PRODUCE Federal-State Market Newi Service Cantaloupei ellBbtlr weaker: sotatoee, 4nr Whltei mt wbltea week, otbere about etean; belt firm, other, about 4r: tomatoes, beit firm, eri about iteedr lea lumbo eratai CAHTALOOFie Mexico lumbo eratat 10.00611.00; etandard, 48a, S.609 7.00. wyriTOKJI Atreat ealea 100-Mund lack. Loot White FerrU VUe7 VM. la.

wide ranee tn and ouelttr. 2.25CJJ5.- RueU AIM, H.4 MH I 1 loans ua lit, wniiei unai trle't sb-nound Back OA IA. 2.1803.35; Kauna iteae nonaa w-poi tra. 1, 2.7502.85; Arltana cartont, 3.25;Eern dutrlet 11 Bo-pound lute. 1.

a.oo ej 2.25. iviuiun nate, 9-iarer imperial Ve euer reoeii ipu yew llBht, 07.00; tlorfda I Mexico 6j6i 6x6 arter, IM 8x6. 4JI0I odAEAO: ill 9-laxtr BUS. and laraer. B.S0a6.

Mm. tmtm 1,,44 Imperial Valler, 1.00O1.XB: cnerrr 10, natoet 12-bafkat true Coachella Vat r.4.70va.oo; imperial vauer. 3.780 on no. i hn. corrn 1TEW VAU AnHI 19 tm nnffo nflt ISantOa Ms.

4 tz-doek elsaed at aa.soa. "Bn tutum cloud IS ts it hlahar. Julr. 97.30! September, ir, 93J; flarah. UMtt, EFFECTIVE Parti Net Gain Seen Signal Oil Gas Co.

earnings' for the first quarter ended March 31, last, are expected tol be In the neighborhood of 76 cents a share, Samuel B. Mosh-er, president, estimated yester day, in the like period a year ago, net was about 12,400,000, or 62 cents a share on a smaller number of shares outstanding, Early indications are that minimum earnings for all of 1957 will approximate 000, or about $2.90 a share. Higher crude oil prices will con' tribute considerably to revenues and profits, according to Mosher, accounting for an additional! $4,000,000 to $6,000,000 in gross this year, Mosher estimated Baseline sales this year will amount to about 120,000,000 gallons, com-1 parea wiui 01,000,000 in 1955, Pennsy 3 Mos. Earnings Off NEW YORK. Anril 12 With March results estimated.

Penn sylvania Railroad's net income tor tne nrst quarter will be approximately $5,400,000, oH about $1,500,000 from the jjlarch quarter earnings last year, P. D. Fox, assistant financial vice- president, reported today. The estimated earnings would oe equal to about 41 cents al share, compared with the $6,820,071, or 52 cents a share reportea tor the three months enaed March 31, 1956. utner earnings follow: Taiaa.Nataral OaaaUiA Carp.

raperU Janea Linton Maablna MM Carre "WlU IBM ntt 9942,902, or SI.02 ri. or 94 ntt a anara in Intaraatlaaal Hatal tAdaitrlM. IMj ipso nib or aa.oa vi. 97.4J In 1S9. WaaSall bSaalrlel.

msntbt rw. 44. an or ai.14 ve, 1632.168. or 1.25 In ihe ilka 1906 h.I. laitutiiavl B7tt Mirth ounr- tttr ntft ftfl3l.ia8.

ar Sft nU ihara yi or tlAO la tht iLUat G. A W. H. Csirtvaii. In- lOKfi taatt or ti.

70.3l4. or tl7 IB lD. Liorr4iiiir. isaa tibl. aii.iiyw,..

Ml. or 91.88 rt. 91,228.372. or 91.47 ta X4TOO, BUTTER-EGGS-POULTRY Pederal-SUte Market Mewt Sarrlca IM ABiolea. AprU 12 Bum.

Joablnt srlcci ts ratallen Orada AA. carton. BfiA70: Orada 4. flGMRB. 0 vovai.

COOS Wholeiale Bricea aalsa h4twa4n lnaal asatfra ca4fa mcjuaen: T.4r. W.ritiiM Mln. 40 AA 31.9-39,5 37.9-29.0 Prleee to retail iloret. f.o.b. dlatrlbu- tore Dlant (delivered 114 centa hlahar: xarioue, a cente niinari: Xx.

Lai. Lane Medium small Oladt AA aa.o-aa.a J9.a-a3.9 je.a-jY.a rtrad4 A 43.9-49.9 34.9-37.9 30.9-33.9 37.9-29.9 oraae jb ji.e-j.e u. rrleee to conaumeri In Cartona Larta Medium Small Afut 44 41 lis? fa Orada A 39049 37f)4B 3339 Seeelpu Sen. 10.300 catea: butter, 316,000 poundeg ehooec, 192.000 pounoi. poultrr.

379,0 peuum. pound) uvs rooiTM rrroraSft-Jtt at ranch. Do eaponettei, at ranch Hen Lliht trpe. all welchta 19021 2B42t 11012 1101B oo ero. 4H iae.

ana up Aelei in 91000 HISh Lew Lett Do 3Ha 1 bb innu ion loo Do 3 Vie 72 23 95V. 94 V4 .7. a7 i 91 OenMotcpaiiiTB 1 94 944 94'4 83 101 101 1014 'i lil IU 18 loot. 100 100 25 B2 V. 81K 82)4 40 22(4 22 22H an Tel 00 4e 71 OniBAW deb 81 uuMco oeaoiOA Fin 4.78 rfe at 87i quo mo aa an Dt Miner 3 68IT7 4h.VBT 8l B4 i Wit a BJ BJ jocaneea vit 10 Do so 4 sau 90' 137 lOSVi 104 105V.

M.acr je 103 Mi 103, 'llUtrr C. aeiw 7S i 7 92 48 72 Be Kan 5i 871 a4 55. aa 89'. it Do 48 30301. Do 4Va 90 3 NtaBTMtUetl 4 IQli 101 Wi lQltt in 64 44 V4 4' Do Sa WW HH.

ItTKB t42031f 30 47 31 SS4 30 9k 41 II 0.. Bori a n. IWJltB. iti if i 2b bo 2 88S KorStP 2 raocMI PcTT 4il 68 iron Do I 91 FeoHeM 4a 80. Da 4a 90f FhllUpi 4ys 87 324 U3V4 112 3He 91 15 102H 1M 1011 ib 31 $4 '7a 183 24 St SB 300S Da 4a 97 iSoottFep Jl 11.

67 Binei 113 Ve 113K 109 109. tOM 53 143H 13 'J1 97 ,44 B4a 94 wt 41 Wl 16 107 3 7Stt FOMION BONDS saw; 88 si AJaaaUCAN BSOaUNOI SOHBB Signal Oil IVt BIT. 89 B9V4 mm mm 10 102 103 103 12 1624 102V, 10JV4 it 6 i. aa aa mv, 0 Ittl I D9 StdOZbd 3Hl S3 Sfinra ae 23i INVESTMENT FUNDS NIW YORX, Aorll 12 in National Aaked Aberdeen rd Ffi2 Cap qrowtb 6,65 we tbs aSsocutkj rm ii A spurt In wool and wool top futures highlighted commodity trading on New York and Chi cago exchanges yesterday. Wool aloaad 2.2 ta 2.7 aaata a hlabar, vhUt wool tops ran up to Coffta alas waa hlahar.

eloalna UB la to i.io oania oi a pouoa. aut maiaia wtra under aoffle praiiura. sou ans us aojo jvwar. World luiar elcuad .03 ol a cant low to .11 of a cant a pound olBbar. Cotton Jlnlihad mtsad.

39 aanta bala lovar to 29 cent a Ma nlner. Corn abowad atra nsta among I eralni. eloilna ta 1 cant a Miliar on a lira aaih nanat. i at unehansad to hllner, oat earn up. whole.

la ree- Prerlaiu dar. ItHMi weak aar. i7o.a weea in I7aa, m.60; rear afo.Tll.39. IBS? IBaS 1U 19M moron so mm iiwm arerafe DOW-JOKES OOatWODITX HW TORS, Apru 12 The futuraa lndaa af 12 aararaadltlei cloud at isrsi. no .93.

Tne 157 lUndi at 18249. tliiw. at lll.1t, ine now-4onu ipoi orlAa lndev af 13 nuioitii lee advanced .23 to 193.71. Tne i aianus loa.n, ui low mi raih men CHICAGO, Aim 13 te Kami: Own Hlth bow Cloaa 3.33 343 333S-3J2V, 1.31 1.39M. 1J0V1-1-30H ip pane 1.32 ft 1B (4-137, ar 3.44tt 2.424 Julr fi 3JiSta li Sept.

3. i 2.3 MoV 3 2.Mi 2.27U IS 7V4 30 Vi an. a.JO'i i.iiYt 2.30M Mar 1.M Julr 19.00 apt. U.B2 Oct. 1.40 14.95 14.80 14.50 19.05 14.90 14.90 14.97 14.73 14.79 14.40 14.30 14.30 Cath Oral Wheat: Nona, Corn: No.

J. reUow. 1.334! No. 1.33 41 no. it i.nvtvi.n vaia: xioqv.

orbeaa meal: 45.00045 90 iarfir. nominal: Malum, ct Baner, nominal: Maltlnt, choice, 130 01.40; neu, Grain relume Aartt 12 (TU) Ofata fll. CHICAQO, om a tit tn lOOQfl of he Board of Trade lor April 11 or oueneie: Msvr uir. ciept. vep.

aear. wntw 479 re? airo lovo 1999 Corn 34(7 Rre 3lt 910 1307 700 .130 ISO M4 1A71 32 soneaut rptanber. 933 Utr. 4821: Julr. aaeSi Entai 933; Nortmbtr, 775, Janu- 94.

NEW mree, I wide Bi lower to 25 nuUtae; Wdar. vreatner orer tne main somin-proauo' In. rtvKm waa aaaln onnr uartlr favor. able. Manr.

aeetlona rewriad mouture wwen li hoidinc up iianuni prepare. ft14 and is tha area. AMI, Mar 31.13 3939 Julr 34.41 34.68 i.ia ja.ia 34.61 34.99 Oct. 3347 71 J3.7P .70 33.79 DeC. 33.B7 Mar.

Mar Julr .79 33.81 .76 33.80b .05 33.130 Asm 13 in Cotton futures, eioicd IB cent a bala hlBher to, OMB Kith N.Ch, Uir 3D.1L it CXt. 33. 4 JJ.74 3.7b 33.82b i lilt 33.81 33.BSb 33.06 33.1lb -I Julr 33.19 Oct. 33.04 31.98 32.10b Spot cotton closed unchanted. I ifllB, 4n Tjtm 27.7B: midl 34.00; food mlddilnr, 34.79.

Race! 4365. BtOCK. 3B1.W0. Cetten Yerama NEW YORK, April 12 JOJ) Ostton volume fntereet on in n.x. cotton az- enanee ior ap ii in ow-wnino Viar.

KUVi WIU7. sww. Qw, December. 9900: March. 185.

8400: Mar, G70Vi 4Ui7. DVUU. 40E4M, (JUUU' MtTAU NEW TORI. Aorll 12 (TV-Spot non- Financial News Briefs Jer. P.

HUler. Central Call. fornla field representative for Interstate indemnity io. ot un Angeles, has been appointed resident vice-president In charge of the nrm's san rancisco oi-flee, according to J. A.

Markel, president Wilshire Buys Stations of Sunset Int'l. Sunset International Petrole um Corp. has sold all of its 172 Golden Eagle and Craig gaso line stations to wilshire products, newly formed affili ate of wnsnire un uo accora inE to a joint announcement vesterdav. 'ine stations reiau aoout 7,000,000 gallons -of gasoline month. Sale price of the sta tions was not disclosed.

Morton A. Sterling, executive vice-president of Sunset, saldl his company plans to expand its dealer-distributor outlets and under the agreement with Wil shire, Sunset will retain Its trade names Golden Eagle and ICralg after a temporary period for changeover of tne stations. The transaction will give Wil hire over 200 eomoanv-owned gasoline stations and will bring the number of stations selling under the Wilshire brand to 425 Sterling said the sale ot the1 stations to Wilshire will permltl Sunset to devote more capital and effort to exploring and developing additional crude oil ana gas production. Drcibus Heads Harvill Corp. Robert R.

Dreibus, formerly vtce-nresident In chares of sale at Harvill hu been elect ed president or tne company, succeeding Richard B. Clever-inc. who has resigned, it was announced yesterday. firelhus recently has been with the Precision Pie Casting Co. of Detroit, a division of Karsco Co.

Wheat Re- ia Corn- Mar 1.3S'4 Oat Mar .73 Julr .99 Sept. .99 Dae. .594 .70 .69 Ml lil BAVliaana Mar 2.43U J50V. i 33 J3.BB 33 33.17 33.1B 33 isoL 35.49 ULEAlfS. 1 tow 01 B4 34.lt.

.14.02 J4 15 33.85 33.69 33.62 J3.70 31.BB 33.BO 35.17 31,15 33.14 13 br a I 33 IXDIXU Cuts Dividend NEW YORK. Aorll 12Min. ute Maid Corp. today declared a quarterly dividend of 10 cents 'on the common, payable May 1 to stock of record April 22. The company paid 20 cents a share in previous quarters.

John M. Fox, president said. "It has become increasingly ap parent tnai ine seasonal nature of the company's business during the first six months makes it aimcuit to appraise tne earn' ing power for tne year as a whole." He added that "current profits are unsatisfactory." Fitsaimmons Stores, Ltd, yesterday declared a regular quarterly dividend of 30 cents a share on the Class A and common stock, payable June 1 to stock of record May 2D. MiUiron't yesterday declared the semiannual dividend of 25 cents a snare on the preferred stock, payable April 30 to stock ot record aphi ia. other dividends wiiow: Bedaeee Minute Maid Mar 1-Aprll 22 Bl.

Bella Ptr jtut l-AprUH .38 W. AmWIl MB. 1W lucre- Ornd Union Mer 34-Aprtl II Interim Fats Com. Oold tin 16-AprlI 9) suck- nrlMrf fTnlrtll SI.AnFll 20 Si aen. Waterwlu.

Mer 1-Aprll li Qeerterlr That. Brunlnr 1-MaMB am. 8. w. an Jen.

ouar tallHto April 30-AprU 3 d.hn R.r Mai 20-ADrfl5 tad. SUai Pr. June 10-Mar S3 Mo. Hat. 0a Mavl-Aprqio affiln" Oai Mf IJ-Aprfl 26 .12 .40 unio Mainir apiu ju-aitu i Beltane El.

Ar 10-AnriI 22 R. j. Remold. JiueS-MavU Do JuneS-MavlS Wut. Lltht Vfil.

Uaht .30 WUC. r. BV0- 20-Ma 31 Group Five in Spring Meeting Five hundred Southland bank ers are expected to attend the annual spring meeting of Group 5, California Banners associb nn. at tne sutler Hotel Mon day, according to Forrest W.I Denning, chairman of Group 5 and vice-president of California Bank. The afternoon session will feature panel discussion of operations, credit policies and public relations in the current tieht-monev market.

Following a social hour and banquet the bankers will hear an address by Dr. H. E. Lue-dlcke, editor Journal of Commerce, New York, whose subject will be "The Changing Business ricture. Th meeting will close with! election of officers for tne en suing year.

Steel Rate Unchanged YOUNGSTOWN, April 12 Younsatown district steel oper ations will continue next week at about 90 of capacity. Sain Blch Low 94a is Cloaa NO BH March Ptt 300 Ulrrlll Pat 1M It MldSoOt 1.60 100 32 J2'a 3a Mualon Dti 3: 34a. 33 34H.S Va MJMaUlO 3031 J4 Ajo us sii? 13K4 Wftt ai MO 3a: NatonaaCa 4 11 MaptIi Oil II NAmATl.0a 39B l.0 3iB 31H 30 3l noraa l.nua iiu Occl4 Fat i rVaanln OH li 1 10 1 22V, 32H- 137? lis 7 19H- lia acOlrl.30.J!5 MM OS 3.40 vm Indim 20 JV, ao Uibt 3, lis Til iA 10 11: Pae TOT 7 300 12J ran an Panaay 3a .100 PaRR 1.40a 1113 PtUar 1.40a 190 rim mot 3 iw hllln Til 14 300 APT.I fUHrr Oil 7S1 1.S0.439 31V. 39 Tu 1100 1 12-32 1 11-33 1 11-131-: RlehlUld 3 100 lumuaa ram 4.aj-?4 Ana 2h 332 nhr 1.40 330 Rran 490 iSatWM 1949 lnnr 3000 70 41 io. JJaa 21Hi ia.

atlA 1 9 IS 8 iMrrtRd .80 So 49V. aa Slaufl.ri.lOblj; iuuffari.B6biat 2- iawatar 09 11 Odd 311 SOVt 30 Da 1300 1B74 15 SJ4 On 5 1.8? 200 29 a Oil 3.40 Tf Dlt FTUlt 3 (U 8 8 OS Rub 2b 120 scaai aa bus 5 a. Ht'4 5 atlusivl WC 1 Ta) -is JO i a waiuiai aio WMUBtt XI 2 1VO OS 0 wvio? it Sv. StO AND ASKED Bid Aikad Bid Aikad OOhol 29 39 Ptree BO SB 5 ii 33 DO 94 Jjy. 304a Jada 3 40 miiwt 7U rlialiY Vi 14 llln Baa 11 Malar-P 13 1JV4 an2? 4 PACIFIC COAST EXCHANGE Adrliera Fd 13.80 AlllUaUd B.BB.

caemicaJ uoi Kit Am Sua Bhr. 3.79 Am MUt Fd f.34 Alloc Tr 1.53 4.08 9.131 Hectranfee i.Bl 17.81 Fuuv Adm Atom Dee 18.37 pen Bond lAxa Uouibt A 8.60 Indue XCB inat Bond Merehand B.05 8.75 3.68 4.03, 1 BUKI Do Science 10.30 Blue Bldte 11.41 Bond int Tl 30.92 Boatoa Fund 19.73 Broad Bt InT 31.59 RR Bond BB, ButllP 14.07 7.67 1 14.67 'Bullock Fund 12.64 ICBlifornla Fd 702 Canada OVn 13.57 tel ntllltlee Canadiin rd 20.09 iCdn Int Oth 7.79 bapltal Vent 5.69 Cent abre Tr 22.78 Obemlcal Fd 16.06 Colonial Fd 10.03 Oomwlth Inr 9.04 Do Stock 12.84 Comp at 8 17.03 Composite Fd 18.43 Concord Fd 13.70 21.7 B.s' Orawth Ind ouardlati Mut Hamilton K-C7 Do H.DA 6.23 24.63 17.38 Hejdock Fd Income Found 1Q.BB 9.83 13.74 18.31 16.76 14.81 18.00 income Host Incorp IncOme neerp inveet :n.Ut Bank im round Do Growth Cone In Tr K.so uouneeiorx ru Orown InT 8,73 Oe vech Inv 14.41 De Vesb 68.00 Fd 10.78 Do Orowtb 13.04 Dlrire Inv Fd 8.90 Dlvera Tr 18.99 8.00 Do lnw Do.lnu Domi 7.3B 14.56 66.00 11.88 14.29 9.7B int. lUtourcti invtat co Am In? Tt Sl Jtijtrna qui Jobnitoa Mut 18.10 iinoena en x.ae 2.93 9.91 23.41 -2 8.5 4 irenue Fa t.a icatoaeui 110 AEoei 22.27 K-l Biectronlet et Inv 5.03 .50 H-4 i8aerT Fund 168.72 167.44 ebuiw runi i. 6.92 7.17 li. 16.

eiiix rw .17 15.33 16.97 FlduelBTT Un 15 70 f-i-f run Found Mut i.sa 4.28 KaMana Can 7.7t 4.37, knltkerbeoker Frank cub Do nf Fund Inv at md Fd 8entri Can tn Inv Tr 10.18 11.16 Uatoxton mm if: i Fd Inv 17.61 15.64 14.31 12.28 7.19 9.09 10.68 6.09 Da Tne Stk UomU ST uu ra: Auto Sleetrle Oen Ind Metal aroun sec: AUtO Aviation Bulldlna 9.98 1142 6.681 aw NEW YORK BONDS sdmwimcemmi Yeeterder Prarlaaa far Month 4ala. tear la 14MIU iMoan Low Claia NO IP 1FJ 8 H'4! Said ADOOtl I.Bfl Aeco mi! 43 14 A Radue 2 131 Si. A Ui-ctial i 488 IS (a Altun 3.10 109 iJiii Am Airuo i zga II 'Am Out 2 110 44 Am STeett? 100 liK Amfciy SoO Am ieoter. 990 f4 Am Had 1.40) 340 164 Am Bmel loo tiS Am 9 177ft Amvlio 2 xdloo lit. Anaconda If 470 oiv.

Armour 100 5 S4 Avco Mil 13 Balt.U .40 100 13 Bandlol 1S15 IV, Baakl 0.09a 200 SV'i Bickman 200 3114 Bathatl.SOh Ul 44 rfihoog.aoa too IM 81k Man 3000 i air nolo 1403 3b Blui Dt 102 10 ft Bselai lb 411 Bol.aChOll 1042 BOII-W 3.40 467 41 Bdn-K 1.30 12 dd On 1 to Wl 30i Burl Indiu 1 409 13k 33 Cat cam lb 19s 1 Atl.OU 100 7tS iPaelga 190 3iV, 1 (J tl 2S0 Kb vaorac lIMStP 1U 100 17. cimur 3 Iso im ior 1.70 140 37 oeio Path 2 lSS i Col fjai 1 230 17 Out 374 I Cr laiT l.M 211 S3 44 i- V. cab Am Oil 20M 4Vi CUIt-Wr 175 44 i Do A 3 100 43 (a Ojd Ab .06 10OO 100 Daar. Col'A 100 30H VI WOT A 2 HA 1B i aou la Dflualaa Oil Sfuatad ija 333 ssM OoPont llii 139 ifofl i a.aoa 10; IBO .31 V4f 21 Jtatar oil III falrch a v.a 129 10S Qbrepap pi 4 10 101 (i JOJ 9IH mrtnDalrlb SOB 17 on snec 3 33s to Bm tuplor too an Mot 3 3730 41 oanpubuti 300 mh OanTfl l. 0339 42(4 s4? Tin 2D 30a 75 latta 3a 150 .45 Offiatu aladd 20b 300 270 370 -30 oritiam-P 960 3 ui uu uatc 11 urejnouna 1 onim Air 3 1 rntt V.m khfl3.4 140 47; Tliwlil.

1M 17 lso Ca 3 100 30 si iti 1 i HO lBfi 3 .1 a im ibo a Jra ara- slif if Kaliir At 27s fS-- iMia'S. i i lAkman Ul 100 37 37ti 37M Vi 4B RU RV 47t 474- 3 UVa 17 17 39 30 V. AT THE CLOSE OF Friday, April 12, 1957 MEW TOPUC. AnrU 1 im wnuowlnt cloelna nrleee ara taday'a hlch, low and ar a ranraiantatlva Uit of iroaentative Uit ol bona pa tbe New York and American Stock Ex. 'cnanBes: cioiina over tne counter u.o.

govern, ment 'iTeaaurr panne: 01Q 99.8 81.5 Altai NC Tlrld JHeSB-ST i Mln tiuleil In dollar and thlriy- eaoandi. ewbleot to tax II but aot ta Stat Income tax. coaroBATioi bonps alee In tlOOO TTlab Iaw AllBl Uia 11 1 1X3 AICPB .4 AmaiFP 81 2030 Do 4.801 AmMcnatrsiTT do ana ai km TAtT 3l 90 Do 2Ha 86 Am Tub 31 Armour Se 841. Atoblion 4a 95. I4A 4 U.I 4A1AA Kii an 7 aaA 9tt lmnSallteS.

72 176 111 lift, ill wronihs 4Htf 1. 7 111 U3U3UM 19 1S4 13 137 au. ii J.4T 97.7 48 2BB-BT 87.J0 8W.2 3.4 2HlSB 98.23 Mil 3.49 2V.1 63-88 100.2 1D0.I -J 2 IB Stye 86 9B.1S 94.17 3.41 2VilS2-39J 94.10 94.14 3.49 94 6 94,10 3.37 3 Hi 60 98.20 98.24-2 3.19 2V4. BO-00 1W.13 1OU.20 a 34il 81 97.2 97.8 -3 2KlS7-2 92.2 92.21-4 3.33 2Hl3 94.38 94.30-.2 3.39 ife 3 70-85 MSs 3.36 71-9S 903a 90.3P.10 5M 3 5 737 0 soiis tSifc.ioyJ? is 'm'M lok lS 1 120U 13044 130(4 2 97a 97a 97. 3 94 94)4 94K wl il 98 9S 98 3 76 78 74 10 1044 10414 1044 2 77 7444 77 till 1 if ffJl i lie 11 Newport Harbor Bank 3435 Edit Coot Highway, Corona del Mar WAS MERCED INTO California Bank AND WILL BE KNOWN AS CORONA DEL MAR OFFICB FuravSIM 9S 4 lit 13S 12.

SOCaTifSliS 42 944 94 94 0 In Mnkraptor or raoalvareblp or bBIni raorssaisad under tn Bankrunttl Act or aecurltjei aieumed br aom- raaulii tibV. x-tBtaratf posds. 09 fottaUiltj Impaired sir mBtuftfr. JOS Da 10 Do a 22 I iatio moo tot IK0.15I C90 7(4 7rt 7VS-.