The Journal News from White Plains, New York • Page 19

JTT Stocks Classified B4-10 1 1 ROCKLAND COUNTY, N.Y., SATURDAY, JULY 27, 1985 Bl PAW am CSS yVpy precedent regarding the union's policy at any other facility," he said. Bieber said that all decisions at the Saturn complex would be made by consensus and the agreement stipulates "any of the parties may block a potential decision." The UAW said virtually all 6,000 workers initially hired at the complex will be recruited from the present 400,000 GM employees, including those on layoff. Under the agreement, virtually all UAW-GM members initially employed by Saturn will be protected with permanent job security. Subsequently; no less than 80 percent of the Saturn work force will-be protected with such security, the UAW said. The UAW said the agreement also provides: Payment by salary rather than hourly rates.

A high degree of domestically produced material in the car. was overwhelmingly endorsed by the union's 25-member executive board at a two-hour closed meeting in a suburban hotel. Bieber declined to discuss the location of the Saturn complex, saying the union was not involved in site selection, but both of Tennessee's senators said in Washington that GM had picked the town of Spring Hill, for the facility. GM refused to comment on that announcement. The assembly complex, which was the object of fierce bidding by three dozen states, is expected to employ about 6,000 workers and create 20,000 related jobs.

The complex is expected to assemble about 400,000 cars a year by 1990. GM has said it would commit about $5 billion to the project. Bieber emphasized that the new agreement applies only to the Saturn complex. "We view this as a special case and not as a By SHARON COHEN Associated Press Writer CHICAGO (AP) The United Auto Workers on Friday announced a landmark agreement for General Motors Saturn car complex providing a salaried work force, permanent job security and labor-management partnership in reaching decisions. UAW President Owen Bieber said the agreement established the UAW as "a full partner" in decisions from the shop floor to executive levels.

"That is a degree of co-determination never before achieved in U.S. collective bargaining," he said. UAW Vice President Donald F. Ephlin, the union's chief negotiator with GM, called the agreement "a milestone and leap forward" in labor-management relations. The agreement was announced by Bieber after it On A Stock market ends 'trendless week' in mixed showing By CHET CURRIER AP Business Writer NEW YORK (AP) The stock market closed out a trendless week with another mixed showing Friday.

The Dow Jones average of 30 industrials rose 3.47 to 1,357.08, climbing to just 2.46 points below the record high it reached a week earlier. But other, broader market measures showed less strength. Volume on the New York Stock Exchange slowed to 106.95 million shares from 123.29 million Thursday. Analysts said investors' enthusiasm was restrained by doubts about the outlook for interest rates. After dropping sharply in recent months, rates lately have stopped falling.

They did not respond even to the Federal Reserve's report late Thursday of a larger-than-expected $4.8 billion decline in the basic measure of the money supply. In the credit markets Friday, prices of long-term government bonds, which move in the opposite direction from interest rates, showed losses averaging about $5 for every $1,000 in face value. Without the benefit of lower interest rates, many analysts say, the stock market is likely to need evidence of improving economic growth and corporate profits if it is going to resume the rally that has carried it to new highs. NBI fell 2 to nVz. Late Thursday the company reported profits for the quarter ended June 30 of 26 cents a share, down from 42 cents in the like period last year.

Cummins Engine dropped 3 to 65 Vz, also on sharply lower quarterly earnings. Energy issues were mostly higher, extending their advance since the Organization of Petroleum Exporting Countries agreed on a modest reduction in prices of some grades of crude oil. Analysts said the OPEC meeting didn't appear to accomplish a great deal, but it nevertheless staved off any steep decline in oil prices at least for the moment. Domestic producers also seemed to benefit from talk of possible enactment of an import fee on foreign oil. Chevron rose to 38; Amoco Vi to 65 V4; Occidental Petroleum 2 to 34; Texas Oil Gas Vt to 17; Unocal 3A to 31, and Texaco to 37.

Cluett Peabody climbed 1V4 to 38. A partnership that owns 9.9 percent of the company offered to acquire the rest of the stock for $40 a share in cash and debt securities. In the auto group, Ford Motor rose to 44 despite lower second-quarter earnings; General Motors gained 2 to 70, and Chrysler to 35. Declining issues slightly outnumbered advances on the Big Board. The exchange's composite index added .11 to 111.35.

Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 128.31 million shares. Standard Poor's index of 400 industrials rose .50 to 214.47, and 500-stock composite index was up .34 at 192.40. The NASDAQ composite index for the over-the-counter market edged up .18 to 304.62. At the American Stock Exchange, the market value index closed at 235.57, up .57. Not all residents happy with choice of auto plant site SPRING HILL, Tenn.

(AP) The jobs that General Motors' coveted Saturn plant will bring are welcome, but some Spring Hill residents said Friday they hate to forfeit the intimacy of their small town, where the main industry once dealt in another mode of transport mules. "Property already is beginning to rise sharply," said Mayor George Jones. "A lot of options are being taken and some properties are being bought. It'll drive up the economy considerably." But while the small-car plant would bring new jobs and industry, some residents said they objected to what else they expect would accompany it. "It's a great opportunity, but it will end the rural atmosphere.

I don't want to see a Wendy's on every corner and a four-lane highway through town," said Louise Mallory-Elliott, a Tennessee State University psychology teacher who said she'll move if the Saturn plant comes to town. U.S. Sens. Albert Gore Jr. and James Sasser, both Tennessee Democrats, on Friday confirmed earlier reports that GM has chosen Spring Hill, a town of 1,110 people 30 miles south of Nashville, for the Saturn plant.

The plant, part of a $5 billion project designed to cut into the import market, surely would change the complexion of this community, which, Jones said, "in the '20s and '30s was known as the mule capital of the world." The area still holds an annual Mule Day celebration to commemorate the industry that reached its heyday in the 1930s, when Spring Hill had the country's largest mule trade auction. "I just can't imagine 2,700 acres of big smoke stacks, automobiles, concrete and pavement. I just can't imagine it," said Larry Baxter, 38, a Maury County native and branch manager for four years at the local farm co-op. The mayor said he expects the population to quadruple. Officials say Intrepid will weather troubles AP photo Hamburg Mayor Richard Hanser enjoys a hamburger at stand in upstate village.

N.Y. village notes 1 00th anniversary of hamburger Hamburg, n.y. (ap) With some chopped beef, salt, coffee and brown sugar, two enterprising brothers concocted the world's first hamburger 100 years ago in this western New York village. And the community the creation was named for will mark the event with a three-day celebration that will include the preparation of a 325-pound hamburger, a parade, a hamburger-eating contest, and food stands with lots and lots of hamburgers for sale. Hamburgers have become an estimated $20 billion dollar-a-year business and the centerpiece of fast-food restaurants worldwide.

Lois Woods, office manager of the local Chamber of Commerce, said Hamburg's relationship to the hamburger is detailed in a 1970 book "Tanbark and Tinsel" by John C. Kenzog. Two Canton, Ohio, brothers Frank and Charles Menches sold sandwiches at fairs and other events in the late 1800s, according to the book. One of their specialties was fried pork sausage cooked on a gasoline stove and served on white or rye bread. When they arrived at the Erie County Fair at Hamburg in September 1885, Ms.

Woods said, they discovered no pork was available, so they bought five pounds of chopped beef at a meat market to try as a substitute. "They took it back to the fair, and they made it into patties, and they fried it up," Ms. Woods said. "It was a sweet smell, but they took the first bite, and they weren't really sure about it. "So they doctored it up.

They put a little salt on it then they put a little coffee in it and a little light brown sugar. And that just added enough flavor. NEW YORK (AP) -Officials pledged Friday to float the aircraft carrier Intrepid off the shoals of bankruptcy court, where the warship-turned-museum has filed for protection from its creditors. "Obviously today she's in another tough battle," program director Larry Sowinski said at a news conference on the museum's financial woes. "Intrepid's a fighter and she's coming back and she's going to win." Plagued by declining attendance and bond interest payments that consume half its budget, the museum filed Wednesday under Chapter 11 of the federal bankruptcy code, which allows it to stay open while it restructures its debt.

Intrepid, moored off the West Side of Manhattan at 46th Street, owes $28.5 million against assets of $16.6 million. It needs 800,000 visitors a year to break even, but drew only about 450,000 in the past year, Sowinski said. Decision reserved in CBS libel trial Local stocks NEW YORK EXCHANGE AMERICAN EXCHANGE SLS CLS CHG Grant ind IntBkNote Matrix PowerTest Solitron 1 313 82 NT 10 8 3 22 NT 7 NT Vk Gold quoted Rather's introduction to the broad-. cast in which the newsman warns of "a taint of racism" in the American criminal justice system. Rather said in the segment: "And Mims Hackett found out the hard way." "Mr.

Rather stated the theme right at the outset of the broadcast," Gold said. "And we have maintained they set out to prove it." ing MacKenzie to bar the officers' claim without presenting it to a jury. Robert Gold, lawyer for Possert and Farley, told MacKenzie that Rather and CBS came to Orange intending to "blow that town wide apart," according to a statement the lawyer attributed to "60 Minutes" producer Leslie Edwards. OVER THE COUNTER SLS CLSCHC Amer.Cyan. 1641 53 'A Avon 1100 22 BankNY 327 4 -M BectnD 1164 57Vd -4 ChemlcalBk 3718 40ft Champion International 1496 24 Chromalloy 40 11 Chrysler 3004 354k FedPaperBd 174 20'.

Gannett 1136 60H -ft IBM 12564132'A 2 IntPaper 3164 51ft Irving Bank 153 39 LoneStar 308 27 MrneMdlnd 209 34 -Vfc 82 25 USGyps 176 40 United Water 26 19Vt -Vh Xerox 872 53 BIO ASK 21 2V4 1 3 194 19 4 4 Pack Syi Par Pharma People's Bnk Pres. Life Saxton Prod. Ford profits down 23 percent MORRISTOWN, N.J. (AP) A Superior Court judge reserved decision Friday on an $80 million libel suit against CBS and reporter Dan Rather, filed by two former Orange police officers who claim Rather and a "60 Minutes" crew invaded the New Jersey suburb to do a journalistic hatchet job about racism among city officials. Judge Kenneth C.

MacKenzie said he will rule after hearing final arguments by lawyers for CBS and the plaintiffs. Former police Capt. Frank Possert and former Detective John Farley sued CBS and Rather in 1981 after the network's news magazine portrayed the officers' actions in an segment "Equal Justice." The 17-minute episode purported to depict the breakdown of New Jersey's criminal justice system in the 1976 kidnapping conviction of Mims Hackett, a black Orange political candidate and school teacher of the year. The broadcast aired in November 1979 and was updated in August 1980, after a federal judge dismissed Hackett's conviction. CBS is seeking dismissal of the libel case, request PRECIOUS METALS CLS CHG Gold $321.60 $2.50 Silver $6.26 $.17 "I think (Ford's) mix might be better right now in terms of more Thunderbird and Mustangs and (Lincoln) Town Cars," said Joseph Phillippi, automotive analyst with the New York brokerage firm E.F.

Hutton. Ford did well because "if you're selling big cars, and if the option mix is right, you're going to be doing better," Phillippi said. second quarter of 1984. Second-quarter sales totaled $13.8 billion, down 2 percent from the $14.1 billion sold in the year-ago quarter. General Motors Corp.

earlier this week reported its second-quarter earnings were 28 percent below the year-ago period, and Chrysler Corp. earnings were down 25 percent from the year before. DETROIT (AP) Ford Motor Co. on Friday reported its second-quarter earnings were 23 percent below those a year earlier, but the drop was the smallest among the three major U.S. automakers in a down year.

Ford's net income totaled $698.7 million, or $3.75 per share of common stock, compared with $909.1 million, or $4.95 per share, in the Quotations represent the price at the close of trading yesterday. Sales are listed In hundreds of shares. Precious metals prices reflect the spot prices per troy ounce. Figures were supplied by Gary Goldberg Co. of Sufforn..