The Los Angeles Times from Los Angeles, California • 40

INSIDE THE MARKET BONDS 14 Part 111 Jan. 19, 1976 Hog 3ngtltg Zimti TRADE CHALLENGE Point-of-Sales Equipment Sales Lag cipation in the market for point-of-sale equipment will be important to the company's growth over the years, this will be just one factor. Another institutional analyst says that assuming IBM grows at 12 annually for some years to come an assumption which he makes, and not IBM he would expect point-of-sale to account for maybe 2 of this growth. As to the potential of the point-of-sale market, some analysts and industry sources believe that it is immediate and large. One industry source figures that this year $900 million worth of such equipment will be shipped, compared with $200 million in 1975, and that by next year the preponderance of these shipments will be to supermarkets rather than department stores.

number of other analysts is that he can see "no one clear way to play" the market. So when clients ask about investing in this market, Lukin says he tells them to forget it "to go and take a cold shower." Hochfeld, an analyst who is particularly enthusiastic about the point-of-sale market, says the most interesting investment in this field would be NCR but that he doesn't recommend it at this time because of the various problems NCR is going through. NCR, given its dominant position in the cash register market, would be the natural beneficiary of the switch to point-of-sale, analysts say, but not the least of this company's problems has been its changeover to producing the new line. In the case of IBM, while its parti Continued from Page multinational corporations, Soames said, and is better able to control their activities than are the individual European countries. Countries that have signed agreements with the EEC, Soames continued, have found that their European markets have expanded.

"In our policies towards the countries of East Europe, the community has made very clear our willingness to develop closer economic and trading relations," he asserted. Still, Soames went on, EEC trade with the Communist world was less than 10 of its total trade. One reason, he added, was that the Comecon countries concentrate on trade among themselves and offer only discriminatory concessions to non-Communist nations. The commissioner also pointed out that Comecon as a unit does not negotiate overall agreements for its member states as can be done by the EEC. For that reason, Soames urged individual states to make their own deals with Brussels.

"I think we have made it abundantly clear in this way that what the community desires is that its relations with the Socialist countries should be established on a normal basis and conducted as naturally as they are with all the other countries of the world," he said. Soames pointed out that the EEC has granted Romania special status as a developing country in order to make it easier for Bucharest to sell goods in Western Europe. Romania already has a higher proportion of trade with the capitalist world than other Comecon members and also has one of the fastest rates of economic growth, although its standard of living is still one of the lowest in Eastern Europe. The other Comecon members are East Germany, Czechoslovakia, Bulgaria, Cuba and Mongolia. The Common Market includes Great Britain, France, West Germany, Italy, Ireland, Denmark, the Netherlands, Belgium and Luxembourg.

TIPS ON TAXES AUTO SCENE BY R. L. KEARNS Reuters NEW YORK There was a time, not so long ago, when the installation of electronic point-of-sale equipment was expected to proliferate with the ease of a sales clerk flicking an optical scanning wand. Moreover, the market for such equipment, which does infinitely more than normal cash registers, is thought to be huge. F.

Eberstadt Co. analyst Burton Hochfeld figures that $10 billion worth of these products will be in place in five years time. Yet as the costly exit from the field by Pitney-Bowes Inc. in 1973, and more recently by Singer have shown, getting a place in the nation's department stores and supermarkets can prove to be a waiting game too costly for some. But as these and other companies have bid farewell to point-of-sale, leaving International Business Machines Corp.

and NCR Corp. among the principal contenders in the market, a curious thing has happened. Many office equipment analysts, who have spent a good deal of time looking into markets with a potential much smaller than point-of-sale's, say that their knowledge of this market is cursory. Why? Because at this juncture, despite point-of-sale's huge potential, there really isn't a company whose stock can be recommended on the basis of its participation in point-of-sale, analysts say. For example, Merrill Lynch, Pierce, Fenner Smith analyst Jack Lukin says he hasn't spent a lot of time looking into the area.

Lukin's reason for such abstinence a reason apparently shared by a Levitt to Acquire Stores HOLBROOK, Mass. (DJ) Levitt Industries Inc. said it agreed to purchase seven health and beauty aid stores from Medic Fare Inc. of Ivy-land, for an undisclosed cash amount. By Order of United States District of New York, The Honorable John (BANKRUPTCY NO.

75-B-253) Continued from I'llh Page dealers say that a drop in the supply of new bonds also gave impetus to the rising prices and falling yields. Early last week, however, the rally came to a sudden stop. Another New York dealer explains what happened: "Everybody was looking forward to the Oklahoma Gas Electric Co.) deal on Tuesday, with most dealers expecting a yield of 8.60. But they (the underwriters) brought it out at 8.50, and bang that killed the rally." By fixing a yield significantly below what most market participants had expected, the Oklahoma Gas underwriters were "too aggressive," and thus received less than satisfactory response from investors. The $55 million, double A-rated issue was about half sold out at the end of the first day, and unsold Oklahoma Gas bonds were still in the hands of underwriters late Friday.

Reacting to the largely unsuccessful offering, prices of older bonds began to drop. Since Tuesday, most top-quality corporate bonds have lost about one point of their previous six- or seven-point advance, dealers report. "I still think prices are headed higher," says a West Coast bond trader. "The fundamentals (supply vs. demand and Federal Reserve policy) remain optimistic and this latest drop in the discount rate should give prices an extra boost." Late Friday, the Federal Reserve Board announced a drop in the rate it charges on loans to commercial banks to 5V from 6.

The higher rate had been in effect since last May. "I'm convinced this rally isn't dead," says another New York bond dealer. "It's just taking a rest. Many big investors have made an awful lot of money over the past four weeks, and you can't blame them for cashing in some of those profits." Several large industrial firms have announced plans to sell bonds in the near future but overall the supply outlook remains favorable, experts say. Uranium Mill in Wyoming Venture Told Mono Power a subsidiary of Southern California Edison Rose-mead, and Rocky Mountain Energy a unit of Union Pacific have announced plans for construction of a uranium mine mill complex at Bear Creek.

65 miles northeast of Casper. Industry sources estimate cost of the mine complex in excess of $30 million. Southern California Edison and San Diego Gas Electric Co. will contract for the mill's entire uranium production, the companies said. They said construction of the per day mill is scheduled to begin in mid-1976.

Start up is planned for mid-1977, they noted. The firms said the complex will employ about 250 persons when it reaches full operation. the Highway Loss Data Institute. Increases range as high as 29 for subcompact cars and 26 for the luxury class, the institute found. "Increases in average loss payment amounts were to be expected for the 1975 models, since automobile crash, parts prices have been increasing at a rate far greater than that of the consumer price index and other economic indicators," the HLDI said.

The subcompact car class has consistently had higher average insurance claim payments for damage, the institute noted, while the full-sized cars have had the lowest. In a special study of two-door compact cars since 1973, the institute discovered that Dodge Dart Swingers and Plymouth Valiant Scamps had the lowest average claim cost experience, while Ford Mavericks and Mercury Comets had the highest. The Highway Loss Data Institute is a project of the Insurance Institute for Highway Safety, a nonprofit Washington group. $2.5 Billion 75, U.N. Says Reuters reasonably optimistic, providing there was no major upset in the world economic order, he said.

Adedeji urged closer cooperation among African countries and closer ties with industrialized states to speed economic development and step up food production. Sperry Rand Contract WASHINGTON (DJ) Sperry Rand Corp. received a $7.7 million Navy contract for repair parts for a fire control system. Continued from 13th Page ment decided it isn't competitive with those now on the U.S. market," Link said.

The Nissan van is too high and narrow. Link explained, and one of the problems has been to make the Japanese manufacturer understand the many uses to which Americans put their vans. A Datsun van for the U.S. market "isn't on the horizon" yet, Link said, although studies are continuing. Except for the Volkswagen bus, which helped popularize vans in this country, most vans sold here are built by General Motors, Ford and Chrysler.

Because of the soaring cost of repairs and parts, the collision claims experienced thus far on 1975-model cars have shown a "substantial increase" over the first-year experience for 1974s. according to a study by Africa Suffered Trade Deficit in From ADDIS ABABA African economies plunged into the red last year with an overall balance of trade deficit of $2.5 billion, it was reported here. The executive secretary of the United Nations Economic Commission for Africa (ECA), Adebayo Ade-deji, said the deficit compared with a surplus of $11.5 billion in 1974. He blamed world recession, increased energy costs and higher prices for goods imported from the industrialized nations for the adverse figures. But Africa's economic outlook was PIT jvJULI mm RAILWAY EXPRESS AGENCY 2.782 TRUCKS.

TRUCK TRACTORS TRAILERS 403 FORKLIFTS AND YARD TRACTORS LARGE MECHANIZED CONVEYORS AND MATERIAL HANDLING SYSTEMS OFFICE FURNITURE AND SHOP EQUIPMENT HUGE PARTS AND TIRE INVENTORY ed more than the amount paid by your husband. Regulations require an exchange between the parents of detailed statements and attachment of such statements to the parents' income tax returns. We sold our home in April of 1975 and used the money as down payment on our present home. My question is, do we pay tax on the profit? If not, can we deduct the cost of selling the house and buying the other from our 1975 return? D.S. A Obtain IRS Form 2119 and fill it out completely to determine if some or all of your profit can be excluded or deferred.

If your new home was not previously occupied by anyone else, you should also obtain IRS Form 5405 to help you determine if you are eligible for the 5 credit on the purchase of a new principal residence. Do you have an income tax problem? Write to "Advice To The Tax-lorn," P.O. Box 49081, Tucson, ivith a self-addressed stamped envelope. AUCTION CALENDAR: Each auction will begin at on the date shown. 1- NEWARK, NEW JERSEY Monday, Feb.

2 61 Avenue (201) 589-6600 2- GARDEN CITY, NEW YORK Wenesday, Feb. 4 925 Stewart Ave. (212)557 5413 3- PHILADELPHIA, PENNA. Friday, Feb. 6 210 South 30th St.

(215)387 9062 4- NORTH HUNTINGDON (IRWIN), PENNSYLVANIA Monday, Feb. 9 369 Leoer Road (412) 391-0100 5- INDIANAPOLIS, INDIANA Wednesday, Feb. 11 2025 English (317)635-6521 6- TOLEDO.OHIO Friday, Feb. 13 341 Emerald Avenue (419)241-3231 7- CHICAGO, ILLINOIS Tuesday, Feb. 17 O'Hare International Airport (312)666-5856 8- CHICAGO, ILLINOIS Thursday, Feb.

19 CXT Terminal, 433 W. Harrison (312)786-4702 9- WAUKEGAN, ILLINOIS Friday, Feb. 20 57 LeBaron St. (312) 336-0567 10 GREENBAY, WISCONSIN Monday, Feb. 23 503 6th Street (414) 432-7795 11-SAN FRANCISCO, CALIF.

Wednesday, Feb. 25 1815 Egbert Avenue (415)468-0575 12-OAKLAND, CALIFORNIA Thursday, Feb. 26 2277-7th St. (415) 468 0575 13-LOS ANGELES, CALIF. Friday, Feb.

27 357AMS0 Street (213) 625-4348 14 SANTA ANA, CALIFORNIA Saturday, Feb. 28 3216 Westminster Avenue (714)531-4062 15 DENVER, COLORADO Monday, March 1 5050 York St. (303) 629-0855 16 ST. LOUIS, MISSOURI Wednesday, March 3 6700 North Broadway (314)381 7955 17 OKLAHOMA CITY, OKLA. Friday, March 5 1501 So.

Central St. (405)631-4553 18 HOUSTON, TEXAS Monday, March 8 2818McKinney (713)227-5121 19 ATLANTA, GEORGIA Wednesday, March 10 99 University Avenue, SW (404)688-3471 20 NASHVILLE, TENNESSEE Friday, March 12 132-1 1th Avenue, So. (615)255-3523 21 CHARLOTTE, N.C. Monday, March 15 2100 No. Trvon (704) 333-4101 22 TEMPLE HILLS, MARYLAND Wednesday, March 17 4900 Beech PI.

(301) 699-2200 23 SYRACUSE, NEW YORK Friday, March 19 5959 Court St. (315) 437 2671 24 HARTFORD, CONNECTICUT Monday, March 22 110 Brainard Road (203) 522-8203 25 AUBURN, MASS. Wednesday, March 24 311 Sword Street (617)756-6298 26 ST. PETERSBURG, FLORIDA Friday. March 26 4475-28th Street North (813)527-3335 Continued from Page in any one calendar year, without having to file any federal return or pay any federal tax.

For the past three years, my husband has been claiming his two children on our income tax return. He pays well over $1,300 per year to the friend of the court for child support. His ex-wife has recently informed my husband that she is claiming the children also. Who has the legal right to claim them? There is no statement regarding this in the divorce decree. The children live with their mother.

V.S. A It is unfortunate that the divorce decreee did not specify who is entitled to the dependency exemption. Your husband, as the non-custodial parent, is, by law, assumed to have the right to claim his two children as dependents, since he contributed more than $1,200 during the year. However, that right is voided if his ex-wife, the custodial parent, can "clearly establish" that she contribut Court, Southern District J. Galgay, Bankruptcy Judge TIRES, NEW TRUCK ENGINES AND GARAGE EQUIPMENT: $1,285,000 inventory of Parts, Transmissions, Wheels, Tire Chains, New and Recap Tires.

New Dodge Gasoline Engines and Rebuilt Cummins Diesel Engines. Also Shop Tools, Tune-up and Lubrication Equipment, Hoists, Air Compressors and a large quan- tity of Warehouse Equipment. OFFICE FURNITURE AND EQUIPMENT: 3,750 Desks Metal, Mahogany, Oak many Antique. Also: Quality Executive Office Furnishings. 11,271 Office Chairs Some Antique.

1,590 Metal Filing Cabinets, 750 Office and Conference Tables, 2,840 Office Machines, and Time-clocks. SAFES AND STRONGBOXES: 953 Safes and Strongboxes of every size and description. AUCTION TERMS: This is a no minimum, no reserve auction. Cash must be paid on delivery: only cash or a Cashier's or Certified Check payable to RABIN BROTHERS AUCTIONEERS will be accepted. 25S deposit on award of bid.

Balance and full payment at termination of sale. Autioneers are acting as agents only. Everything is offered for sale on an "as is, where is" basis. It is the buyer's responsibility to secure safety equipment to meet all applicable Government Safety standards. Copies of additional terms will be posted at time of sale.

Every reasonable effort has been made to ensure that all descriptions and quantities are correct however neither the Auctioneers nor their Advertising Counsel assumes responsibility for the nomenclature contained herein. Auctions made under tha supervision of The Rabin Brothers Auctioneers Appraisers 55 New Montgomery Street San Francisco, California 94105 In California: (415) 543-9500 Outside California: (800) 227-4016 ay During February and March, 1976, twenty-six separate auctions will be held, all across America the total, combined assets of over 400 REA offices and facilities. Nothing will be held back. There are no minimum prices. Everything will be sold, piece-by-piece and by lot.

For information, please refer to the Auction Calendar at right. OCCIDENTAL OF LIBYA, INC. SETTLES LIBYAN DISPUTE Occidental of Libya, Inc. announces that its recent dispute with the Libyan government has been resolved, and the company's liftings of crude oil from Zueitina terminal have been resumed. Normal relations with the Libyan government and the National Oil Company of Libya have been re-established.

Occidental will take no further action against persons purchasing crude oil from the Libyan government or the National Oil Company of Libya which was produced from Concessions 102 and 103 in Libya. TRUCKS AND ROLLING STOCK: 239 COE Diesel Truck Tractors: including White (1968) Model 7400 TD, Ford (196869) Model 1000 and IHC (1968) Model 4000 D. 2,195 Vans and Parcel Delivery Trucks; including Ford (1969) Model 603, 18' Van. IHC (1970) Model MA 1500 "Metro's" and Chevrolet, Dodge, Ford and GMC Walk-in Step Vans (196970). 218 assorted 35 foot Trailers.

3 Fruehauf, Stainless Steel 18,500 gallon Tank Trailers. 102 Yard Tractors and Depot Tugs. 35 Fruehauf (1975) Model ELW-1 Dollies. CONVEYOR SYSTEMS AND MATERIAL HANDLING EQUIPMENT: 25 very large Mechanized Conveyor Systems many originally cost more than $500,000 some are less than 5 years old. Over 50,000 feet of Portable, Roller Conveyors with stands.

216 Forklifts (4.000 lb and 6,000 lb capacity) with pneumatic or cushion tires. 5.128 Pallet Movers, Hand Tracks and Warehouse Tracks. 2,843 assorted Parcel and Platform Scales of all sizes and descriptions. Abo: Stencil Machines. Dock Plates and Extendoveyors.

ON-SITE INSPECTION: Each location will be open for public inspection, beginning three working days prior to the day of auction. AUCTION CATALOGS: For each auction, a separate catalog will be available only at the auction site during public inspection. XV OCCIDENTAL OF LIBYA, INC. A Subsidiary of Occidental Petroleum Corporation I.