The Philadelphia Inquirer from Philadelphia, Pennsylvania • Page 19

Saturday, Nov. 28. 1981 Philadelphia Inquirer 7-B Of U.S. budget cutbacks and the future of day care Jane Bryant Quinn push from the employees," he said. Committees of interested parents could do a lot fo get these programs moving.

Under the rules, a company may establish an on-site day-care center, pay the cost of care in an outside, center, or reimburse employees directly for day-care costs. The children must be tax-dependents under age 15. But the company's program may also cover day-care costs for a disabled spouse or other dependent. There are certain limits to payments to fathers for disabled spbuses, which could leave a covered employee with additional costs that he has to meet out of his own pocket. But in that case, he could use the child-care credit, available on his personal tax return, and perhaps wipe out his daycare expenses entirely.

wages. Starting Jan. 1, day care becomes a nontaxable employee benefit, just like employer-paid health insurance. Even before this law was passed, a handful of companies, hospitals and colleges already operated on-premis-es nurseries, or paid something toward the cost of outside child care for their employees." The question now is whether the administration's modest new tax incentive will encourage many more companies to start programs of their own. Howard Hasbargen, a consultant in the Minneapolis office of Hewitt Associates, is optimistic about the spread of day-care coverage in certain fields, especially hospitals, retail stores and banks, which employ large numbers of women.

"But some companies will need a It's one of those little ironies of life. Because the federal deficit is too high, the Reagan administration is cutting funds for state and city-sponsored day-care centers for the children of the working poor. One of the reasons for this cutback is to help reduce the federal budget deficit. To encourage businesses to fund day-care services for their employees' children, the new tax law makes that funding tax-deductible. But that offer will cost the government and will cause the budget deficit to rise.

(Budget balancers may comfort themselves with the thought that more public programs will be cut than private programs started.) From a philosophical point of view, these changes sound like part of the President's grand design. He is shifting day-care services out of the public sector and into the private sector, out the working poor? The administration is assuming that not many employers will actually set up tax-deductible day-care programs, so the revenue loss to the government won't be so great. In that regard, the administration may be right. The day-care provision, as originally introduced by Sen. Howard Met-zenbaum Ohio), provided companies with a tax credit for day-care assistance, instead of the tax tion that has always been available.

A tax credit is worth more than a deduction in hard cash, and might have attracted a lot of corporate interest. As finally passed, the expense remains a tax deduction, but with this difference: Companies no longer have to include the cost of a worker's day-care assistance in his taxable Yet under the 1982 budget, government-assisted day care might be cut by 20 percent to 40 percent, depending on the state. Families helped by employer-funded programs, on the other hand, are not apt to be near-welfare cases. They are the typical new American working parents, members of the middle class. Effectively, these twin day-care initiatives shift tax money out of daycare centers for the children of the working poor and into centers for children of the middle classes.

Not that middle-class parents can't use. the help. They most certainly can especially divorced and widowed parents, for whom day care is a special burden. But is it philosophically right, and budgetarily sound, to expand the tax-supported help available to middle-earners while cutting where he thinks they may be performed more efficiently. But there's a hitch.

The children getting kicked out of the publicly funded day-care centers are not the same children likely to be helped by employer-sponsored services. Public centers generally help women earning minimum "wages who might be working only part time, women who might otherwise stay home, mind their children and go on welfare. Day care is one of the community-support services that makes it possible for them to leave home and find productive work. New York Stock Exchange ISSUeS Continued from preceding page 12-Month Salts Net Mi Low Oiv. Ratio High.

Low Last Cho, 12-Month Sales Net High Low Oiv. Ratio 100's Hi Low Last Cho. Ik i I 36 17' 35 21 44'1 44 52 51 3.1 7.4 1.7 30 41 17 33 6 200 4.7 21352 30' 4311 1441)49 S.6 149 43 7.2 217 S3 5 41 35 45 40 USSnc 11.25 USSM 2 USTobc 140 UnTcdi 2.40 UTdi pt3J7 UTch pH55 UniTd 1.61 Unitrd s.25 Univar .41 10't 50 9 4 4 23 2S'4 20 11 3M 21 22 103 22' 41 47 21 20 7.4 7 .914 10 9 6.2 I 4.4 6 20 19 32 32' 29 29' "4 41 49 1 42 42 S3 S3l 21 21 1 22 22- 26 26 331 33 ISU 15' 22 22' 54 22' 23- 2311 23'i- 7 7 19 19 20 20 Vi 4 26 9 331 21 15' 2 22' 3Vi 3 12 71 It 10 13 30 S4 24Vi 23 4 13' 24 II 19 a II 25 14 44 24 "i 29 57 1.M 43' Trust pf3.i7 4 Tranicn 0 5HTrmOri I TARIty 20Tranwy lJOb 35Travln IU ll'tTriCon 2.71c li TriCn ptlSO 2TriSoln 9' Trialnd .40 12 TriaPc 7 Trier 8i.Tnco I .16 14 Trmty 12TuciEP 1.72 lS'iTwinOi 1.10 21'iTycoLab 1.40 10'ITvcol wi 15 TvHrCo 35 23 Tymslir 44- VI 52 i 4 9- 14 22' 1 41 ll-20 20 V4 3 12 154- 12- 15 1 11' 1 17'J 241.4 12- Vi 29lV) 24 14 29 li' 35 11 17 34' 21 69 45 34 II' 32 20 I 6' 20 14' UmvFd .96 UnLeaf 1i2 Upiohn 2 USLIFE .10 USLF 042.25 UiHelnc .96 2 7.9 i 4.0 i 202 13. 172 13. 3 23 3.3 7 23 6.313 106 4.0 9 23 334 3.3 5 55 93 7 34 4.3 6 17 53 711 17 6 231 17 174 3.7 10 253 54 3.4 257 23 9.4 IS 24 II 14 li 11 7 x263 19 14.

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24 42 42 42 45 37 WhedF 1.60 17 41 43 43 43- 56 3iWhe4F PM.I2 M. 11 40V 40 40 65 H'lWhelF pi 2 44 43V 442 40 l7WnelPil I 3 2IV1 2)'- VI 43 31 WhPrt pf I IS. 120 40 40 40 1 40 30 WhPit pi 5 IS. 150 33 33 13 1' 30' liO 13 I 341 25 25 25 31 23 White 130 Si 74 27i 27 27 VI 3914 31 WhrtC pK3 f.2 1 32 32 32 50 2l'4 Whittak 1.60 43 721 37' 36' 37l 17 fViWkkes Jto 74 IS I9S 10' 10 IO'i I 4WieNdl .44 7340 1 6 4 i VI 49 1.20 43 I 664 21 27 27 VI 17 7 WMirO J2I 1231 75 10 9 10 37V. 26'WmD 111 7.1 I 12 30 30 30'- Vt I 222529 4 3V 4 7 4VWmterJ 30 10.11 3 4 4 4- 19 WisEP 1M 9J 7 63 27 27 27- 72 60' WisE HI 90 11 1240 64 65 46 23 W11G ptlSS 11 I 20 20 20 21' 15WiscPL IN 10.

7 24 20 20 20-VI 20' 14WiscPS 1.96 10. 7 24 19 19 19 VI 23VWrtco 130 7.2 33 25 24 25 24 llWotvW t.46 17 I 51 17 16 16- 25 14V Womet 33 16 12 34 20 20 20 42V4 21 WoodPt .40 li II 4 27 26 27 27 17 Wolwiti IJ0 10. IS 369 17 17 17- 31 24 Wotw pfl20 II 25 24 25 3 WortdAr 14 5 5 5 29 Wrigty 1.44c 4.1 9 17 35 35 35 II 4Wurltir 24 5 5 15 7WvleLb .40 4J12 14 10 10 10 17 6Wyly SI 170 20 13 Wyms 30 11 I 10 If 19 19 11 II 4 4 Vahan 32 Van .40 Veeco .20 Vnwll 33 13'. 3.3 9 21 4 192 16 2 6 3 3' 10 I 6d 6 50 Veitie 1.21a 9 31 15'UIAL 36'4 24 UGI 1.N 13 9V.UMC 1.20 3 UMET 18 4 UNCRei 9 .171 52 37USFGCp 120 63 48UniNV 4.55c 63'4 44UCamo 180 47' i 45iiUnCarb 3.40 7 UnCemr .20 4 4'iUnionC .291 1.314 174 12 11 29 1.0 II 64 II 7 343 14. HO 33 22 411 27 1 10- Vi 14 19' 7 v.

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1300 IS. 1100 IS. 1120 20 52 7 1 43 7 1 ISO 30 30 VaEP PI7.45 20' UnEI PO.50 254 UnEI pMiO 27 UnEI pf4.56 37 UnEI pt6 40 33 33 44 Vomado Vukhtc .92 15 12 UnEI 0(113 VutenM 120 III0U33 33 1130 411) 41 3 I4 14 2 19 19 2 S3 S3 w-w-w 15101198 40 39 19 26 11- 4' 6 6- 14 45II 62 1') 46 1 49- II- V. 4 lC4 22Vj- Vi 30 33l 41' Vi 14' 19 Vi 53 40 54- 71 39 23 14 10 14 I- 1 25' 39 20- 1 26i- 26' 35 I9'4 13 4i. 20 121 33 '4 13 14; 9 24- 14 1414 3.3 13 405 55 6 324 7 7 22000 39 39') 14 15 23 23 9 I' 4.011 IS 10 14.

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19l lWanc I 19 4 23 25' 25 25 33WrnCm it 1.211 723 57 54 57 25 17 WarnrL 1.40 6JI801691 21 21 21 43 II WaihGs 164 7.910 42 33 33 33- 35 ISWshNt 11.01 Si 4 42 19 19 19 II IS'lWsnWt 132 II I 242 II 17 17 VI 41 25 Waste .40 1.1 21 212 37 36' 37 40 "iWittm .41 1011 31 24 24' 24'-V 11V. 4 WavGos 12 7 2 9' 9' 9' VI 22 pd.40 15 1 II II II 7 4 WeanUn .051 11 2 5' 1 5 VI 11 91 Wean pfl.26 11 2 13 4iWebbD 6 116 7 74- -X-Y-Z- 11 5 16 13 7 114 39 40 VI 14 14 VI 56 21 21 21 10. 25 20't 20' 17 37 Xeru 22 12 XTRA 33 19ZteCp 40 22 Zaoatc 31 19Zayre 21' 29 Zero 7i 179S 40 4.427 II 15 5 4 2 21 1.2 569 33 1.4 7 30 29 1110 466 11'4 10 13 7 20' 1.0 3 616 12 11 32 33 21 7.1"7 170 34 33 12 USHm .36 14 16 7 S12 1.1 110 10 10 27 27- 9' 35 17Zumlnd 4.4 1 45 27 .76 .60 17' 7'USInd 30 20'USLas 19 llUSRty 14 9 19 24' 24 11 89 103 144 14 Copyright by The Associated Press 1911. pvkXsL New York bonds TRANSACTIONS FOR FRIDAY: $19,410,000 FrdC 116 113 5(014' :83 5.14 I7'1 64 -I 57 3 70 Vi StOInd 4sfl 937 StOtn 4191 10.4 StOki 9.2104 113 ChryF 814 13.0 6IV4- CinGE 6.11 60V1-2 Crttcp 17.I5SI9 17J 101 Citicp 500 cv 70 CitKP 8.45107 14.0 60'4-1' Citicp 8 i07 13.9 1 Citicp 17.85198 1 wwiHMinwiinRniiinnnnnwwiw niwipi. ipv kdy mmmmvmwmmwm iiiii-mh mwiih 111,11111 1 Associatfld Pms siun iciosn PNwT tM lit 63 1 PNwT IllTO 14.1 71- PacTT 481 7.23 60'-2' PacTT I.65S05 14.2 44 PacTT i.06 133 43'.

1 PacTT 73S07 14.2 55 PacTT 13J 541 PacTT 709 143 53Vi PacTT 911 143 66 PacTT 9.14 10.2 19 15.7 02' I i 1 Ann Knapp, 2Vi years pld, of Acton, watches caboose of electric train 11.6 95'- 70 47'7V4 76 67 -1 64V4I 61 S4VI- 90 70 64 2 55 -4 S7141 S3 Vl 52- 49 LTV 11S07 15.7 LearS 10s04 143 Leucd 1399 17.9 Llemk 1IS91 16.4 Lionel 1099 163 LKkh 4' .92 cv Loew6'93 112 LglsLI 914 10.9 Loral 1097 15.4 LoriM 416 7.61 LouGs IV.01 15.0 Lowen i96 143 Lvkes 14.2 Lvkes 7i94 143 Lykes llsOO 153 76- 73 S6'4-2 IV.1' 44 1 61 64 54'- 17 11 114 77' 7514- 67 63 FrdC 116 117 FrdC 901 16.2 FrdC I.IH4 103 FrdC IV.II 113 FrdC 789 111 FrdC 7.1501 112 FrdC 102 14.7 FrdC 9sl4 103 FrdC fVi85 11.4 FrdC 93SSI9 14.0 FrdC 1183 116 FourPh cv Frul 594 cv FruF Isl7 103 Fuoua 7 128 10.4 Fuqua 997 153 Citicp I5.9S04 17.3 92 Citicp 1416 14.1 102 Citicp 1S.30S86 SKHn 105 13.0 4411 Vi StOln 14191 133 102 StdOh 7.6i99 119 $9 StdOh 8'iJ 133 ISVi214 StdOhl07 117 61 Stokly lO' 153 65 -10 SfrTchtsOl cv 1I51 PacTT l'15 143 62 1 5.0 102 Citicp 16' IS.I 106' StorBr I' lOS cv 94 54 -I 67 63'! 66 67' PacTT 117 14.2 PacTT 914 143 PacTT 9sll 14.2 PacTT 911 143 PacTT 919 14.4 Ctviiw 790 CV 145 2 Ctylnv l'91 119 42-l Ctvhiv 9s96 14.1 64 Ctylnv 997 14.4 63' ClkEq 912 Suave Ss97 cv S9' SunCo 1006 103 IOIV4I Sunsh l'95 11.1 PacTT 14.t 15 The traditional 'Black Friday' packs the stores with shoppers G-G 9.11 97 IS-3231-32 SunsSI95 113 72 -1 SupOH 919 113 13' Svbm 794 112 57 M-M MCI 15s00 16.0 94 MCI U'tOt IS.7 19 1 MGIC 111 IU 71- MGM 10's96 1S.7 47 -1 ClevEl 215 3.91 69 Gamb lOsIf 117 Geko 1499 17.0 GnEI 7i'i96 113 -T-T- MGM 9si6 is 7S'J PacTT 1511 143 103' Vi PacTT 1S'20 ISJ 101 PacTT 113Ss 14.4 PacTT lSi20 15.2 91 PacTT I5i4l 143 102 1 Pacn 14' l21 157 102 1 Paine ll'tff 153 74 l'i 69 65'- 70'-1 62 Vl 65 57- 59'2v 67 OevEl 10.9 ClevEl 191 11.9 ClevEl 805 14.1 ClevEl 14.2 ClevEl 111 143 ClevEl 112 14.1 CokiG 195 119 CoiuG9'i95 13.4 CrnrCr 191 111 to 1 60 2 95 MGM 911OO cv MacMI 4s97 cv MeYk 9.IS02 14.1 M(rH IV1O4 133 MtrH 812 173 MtrH i07 133 TRW9SIS 10.2 1' Tandy IOs94 116 73 Tandy I0s9l 114 74V1-1V Teledy 7s99 117 51'. 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Many retailers have tried more and deeper discounting this season than previously, a strategy that may be partly responsible for the crowds yesterday, she said. "I hink what's happening is that people are buying at sale times," Stephens said. "We're all looking for a bargain now, looking to save $2 or $3 here and there. I think things are going to be tight. But none of the merchants are crying yet." One more thing.

If the day is the year's biggest for retailers, why is it called. Black Friday? Because it is a day retailers make profits black ink, said Grace McFeeley of Cherry Hill Mall. "I think it came from the media," said William Timmons of Straw-bridge Clothier. "It's the employees, we're the ones who call it Black Friday," said Belle Stephens of Moorestown Mall. "We work extra hard.

It's a long hard day for the employees." ures to rely on, large retailers and shopping-center marketers said crowds seemed traditionally large. "The traffic level looks very satisfactory and we're encouraged," said William Timmons, a Strawbridge Clothier vice president. "The situation? Hysteria," said Grace McFeeley, marketing director at the Cherry Hill Mall. "It's wonderful. They're all here.

"How do you tell if it's more crowded or less crowded? I don't suppose you could get another car in the parking lot. The line to see Santa Claus, that's one thing you can measure against last year. That you can judge, and I think it's longer than ever." Tradition was broken at Moores-town Mall, where stores opened at 9 a.m., an hour earlier than normal for Black Friday. It didn't work, said Belle Stephens, marketing director. "Things started out very slowly this morning," she said.

"But it's really picked up. We have parking for over 6,000 cars, and almost all the spots are taken." SHOPPERS, from 4-B comes to the holidays, people just forget." Joyce Kuh'n and her son, Chris, 6, hunkered down on the floor near the eagle at Wanamakers. It was 45 minutes away from the next Christmas show in the big department store. But they Wanted to get a good spot, she said. "It seems to be more crowded than last; year," Mrs.

Kuhn said. "My mother used to me. Now that he's old enough, I wanted him to see it." By showtime, the parents and children were wall-to-well in the main aisle, and onlookers lined the store's upper balconies. A couple of blocks away, at Lloyd Haig shoes, 1415 Chestnut it was a different scene. Salesmen Irv and Sam were relaxing.

No customers were on hand. Business is fine, said Irv. Yes it's quiet now. "But we have our regular customers. They don't buy for the holidays.

They buy when they need shoes." Though they didn't have any fig S3 -I SI 1 4 1 ConEd 703 133 56 24'- 7IVi- Vi PhHEl 12'05 14.9 GMA U.9sl7 117 931 GMA 1190 11.2 II 1 GMA 1491 143 100'2 GMA 4s II 14.0 41 ConEd 8.4103 13.7 612 ConEd 91 04 14.2 64- 104- vt PhilEI 1405 14.1 91 46 44 16 -I 96 MKT 5'33t MPac 490 7.04 MPaC 4201 MPac Ss4Sf MoMIViOl lit Monog 10s99 14.9 Morn IsIS 9.46 MonW 490 10.2 MonW 900 153 GMA 1419 143 100 1 GM lOSstS 4.17 17 60-1 35 36' 65 17 M- 47 1 60 TWA 4s92 160 TWA Ss94 cv TWA IOsIS 113 TWA 12s05 cv TWCp 10s9f 153 Tram 983 103 61 45' VI 54141 57 CnNG 794 112 CnNG 797 111 CnPw596 119 CnPw 799 14.1 CrtPw 100 153 CnPwl01 143 GM Is05 114 63 GTE 4190 GTE Ss92 91- 55 2 PhHEl 1392 15.1 91 PhHEl 1711 17.0 103 PhHEl 1109 173 107- PhHMI04 143 43'1-H Pionr 9'sl2 103 95- Pittstn 4l97 cv PoooP 1 105 cv 90 PorG 9sl 113 90 3 PorG 15.2 76- PrmC lOlOO cv 100 2 ProcG 7102 111 $7- ProcG 117 64' 71 75 Vi 76 95 69 4 Trans 1004 15.9 46 -IV. cv cv 117 cv 116 AshO II. HM 15.2 73 1 CnPw 7V102J 14.3 52'-l' 1 TranF 9' Hi IO'iI MntWC 781 123 59 MntWC 9sl9 133 66 GTE 995 GTE GTE 999 CnPw 1112 11398 1-16 1 AsCp8.87 112 Aslnv 788 11.9 TrGPL 190 113 72 1 CnPw 906 143 651 MntWC 990 14.0 66V1 GaPac 5' .96 cv 71 -1 Trinit 10s06 cv ll'-l TucEP I' iOI 111 51 Moron 491 cv 73Vi 60 5IVI-2 GaPac 16.90187 17.1 99 II- 71-1 62 44 67V.1 61 4 52V1 ii 55 2 92 TCFox IS.4 66 S6V4 39 Atchn 4s9Sst 9.09 ARich 800 lit ARiCh 703 116 AycoC cv AvcoC 13.6 AvcoF 931 10.6 57'- CnPw 9s06 153 CnPw 9s08 153 CHAir 3V192 cv CtIC li'llS 10.0 CtKM 4191 112 CttTI 101 383 n.o Crane 7s94 114 IS GaPac 10.10190 111 13 GaPw I'nOO 14.2 62'! GaPw 4'rtl 143 56 14.2 53 -u-u- 71'' Moron liH 9.71 MtST1711 111 MtSTI 713 114 MtSTI 912 133 MtSTI 915 133 MtSTI Isl7 133. MtSTI 111 117 51 1 12 S3-54 63 Vi 77 PSCOi 100 14.1 PSInd 701 143 PSInd 9.6SOS 14.0 PSNH 12199 153 95'- 71 2 69' 591 63 52'i PSNH K' lOO 153 911' GaPw 71 )02J 143 51 GaPw 71020 14.0 S3 GaPw 104 143 51 64- 94 Crane I094 143 72 1 CrocN L6S02 143 59 "i MtSITI IIV.I9 133 ll'i UNCI2S9I 11.9 UBk 7.35S0I 143 UCarb I' lOS 112 UCarb I0s06 cv UnCc7'47 153 UnEI 10'iOS 143 76. PSEG 9S95 123 70- PSEG l'04 119 41 PSEG 12S04 143 12 PSEG 1591 15.2 104V 52 1' N-N GaPw 1105 15.4 GaPw 901 153 GaPw 901 15.2 63 D-D 71 1 UnEI 1591 ISJ 100' Vi 64 70 74 56'- 51 11' Vi UOHC 691 11.4 SI 1 GaPw 10'iO9 15.0 GaPw lts09 14.7 GaPw 14' iW 131 47 55 92' 51 97 2 GaPw I6'll 16.0 101 61' DPF 5' 117 CV Dana 506 cv Dayc 594 cv Dave 6s94 cv DaytP 8s03 143 Deere S41 cv Deere 10'ilS 113 50 45 40 44 GioMar I61OI 163 55 101 Uniryl S' i96 cv UnAL Ss91 cv Unial 41.92 cv UBmd 5'94 cv UBrnd 9191 15.f UGsP 189 110 UGsP 9ViM 10.7 GdNgt 16.) 76 59 79- 14 100 4V NCNB 797 143 NCNB 199 113 Nabtl 7103 114 NEduc9'00 cv Nlnd 10199 163 NtMed9s06 cv NRUt 1491 14.9 NRUt 1591 IS.I NStt 106 1S.4 NEnT 109 113 NEnT 1.2104 117 57 Bachc 14s00 15.1 93 1 BaUy 6l98 cv 107' 15 BalGE 10sl2 10.2 97' BalGE 10'i83 103 9SW1 BalGE 104 111 61 1 BangP 11i.j98 IS.1 76 BkNY 4V.94 CV 120 Banka 7'03 133 51 -1 Banka 8'iOS 13.7 65 Banka 801 133 65 Bkam 8.35507 13.5 61'1 BnkTr V99 13.7 59 BaL4s91 cv 170 BaxL4sOI cv 140 2 BecO Ss89 cv 80 1' BekCn 806 14.1 62 2 BeeCn 9s0l I4i 62' BeOPa 7' .12 13.2 54'i-l'i BrfPa 133 55- Gdrch 912 10.2 9SV- 71 1 SI- 711 71- VI 17 99 13 47' 93 70 1 Grace 490 cv 71 1 104 46 88' UGsP 10'I9 lit ll1 USAir 105 cv 10 Grum4.92 cv 72 -1' Grum UiOO cy GKWn 6s8l 9.63 GKWn 7s03A 14.2 49'- GKWn 7s03B 117 51 Defense boom not enough to pull Boeing out of slump, analysts say RCA 9190 133 RCA 4's92 cv RCA 10.2192 143 RCA 1205 153 RamB 9' ilS 103 Ramln 1000 cv Ramhi 15.9 RapA72 7s94 14.7 RapA69 7s94 153 RapA 7'sl5 936 RapA 1003 173 RncMd H94 143 RdFin 997 153 RetGp 991 153 RdGp 999 16.2 RevrC 5'92 cv Rexn I0WIS 11.7 76 54' 1' 62 1 59 Vl S3- 59 17 61 1 611V 55 44-1 S7' 60 Vi 67 57 45-l 76 -I 62 4114 USHolOs87 112 USStl 496 11.2 USSH 501 cv UnTcc 4'92 t.72 UT(40 9sM 16 1 57 -1 46 GKM0 4S44 1.16 49 GuHMO 5iS4( 143 35 57 3 61 NEnT 707 117 NEnTls03 116 NEnT 9'10 143 NJBTI Hi NJBTl Isll 116 NJBTI 111 133 NJBTI 1421 143 55' GHOo- 14 .15109 14.1 59 UnVaBk 797 117 54' 1 BeCPa 914 133 69 "i GHUtd 9U05 cv 89 Vi GtfUtd 9V.06 cv 19' 62 62 62' 41'-2'l 59- USLIF 9' 115 10.9 17 100 1 USLIF 1290 143 14- BekPa I' ll? Hi 40 -l' BelPa 1120 117 BenCp I.3S03 14.7 DetEd6l96 13.0 DetEd9s99 143 DetEd 8.1SS0O 14.7 DetEd 7103 14J DetEd 904 15.4 Divers 10'i9l 11.3 Dow 7.75199 113 Dew 12000 112 Dow 7s03 133 Dow I' 1105 133 Dow I' 11O6 Dresr995 112 duPnt 1.45104 111 duPntlsU 9.49 DukeP 702 111 DukeP 703 133 DokeP 703 143 DukeP l'03 143 DukeP 904 14.0 DukeP 1410 15.2 DuoL 9s06 14.4 D'WL 10V09 14.9 DuqL 12V.

10 14.9 90 3 S5V1 40 1 -H-H- 70'1 44 1 56' RochG 10O3 113 93 1 RochG 9''rt6 143 43'-! 59 NYEG 107 153 NYTI396 121 NYTI IsM 113 NYD13SI2 117 NYTI 9S14 133 BethSt 4'i90 8.7S 51- 6ethSt9sOO 117 UtaP 10' .11 10.7 9SV UtaP 9'0I 143 65 UtaP 10'. 09 143 70 -v-v- SI'3 Rock. 417 cv 12 60- 65'i- cv II SI 19 55 55 Ryder 912 9.9091 15-32 Boeing l'06 cv 75- 93' BmsC 10.4SS90 114 14 5 US 143 117 SI 69 -s-s- Vder 01 163 99 Vi NYTI IsU NYTI NYTI 111 NYTI l'll 14l'11 96'l 775 63- 42 IV 64 BorW 816 103 II BorW 9.41 51 6' VamlOS cv 112 -I 91 -2 11.9 Mirth) I'lH 143 Heubn497 cv HockV 4199 113 Holidy 905 cv Honey 14' ill 14.1 H01AH 10191 119 Hosttn 594 cv HousF 103 14.6 Humn 11.7191 14.1 HuntIR 9'04 11.0 Hutton 12S05 15.0 Hutton 9' iOS cv VcNBn 116 11.4 78'-1' 61- Vi 63 -3 WB0M 6S7M 47 2 13 62V12 61-' NYTI 1119 143 NYTI 1491 14.2 5711 ViBos 4Vl7(K 154V1-1' 69 1' 38-1 w-w- 103 VI 67' 79 -1 Bntt 143 78 2 12 3 SS 1 Brnf 10s86 17.4 57' Vi 1 91 66 -1 64 1 -l-E- 53 1 121 5 51' Vi 66- BrkUn 985 11.2 l74 Bmswk 10s06 cv 100 -1 BurJgC6sl0 16.2 37 SCM cv SCM 10194 143 StLSaF SsOlf lit SanD 10.712 10.9 SanD I0s06 15.2 Savin 1191 173 Savin 14100 173 Sears 195 113 Sears Is06 117 SearA 116 103 SecP 406 cv SLR 10.03 15.4 65 2 51 47. 14 -1 70 Vi -1-1- Butte 10 497 163 63 8 IMP 10.2105 1S.1 orlin 9siT 153 NoPac3s47 530 NoSP 633 Nwstl 7'94 119 NwnBI 711 133 NwnBI7'iOS 110 NwnBI 112 117 NwnBI I' .17 133 NwnBI 9ill 143 NortS 6S9I 113 EasAir 5s92 cv EasAir 1l'i99 cv EasAir 1105 cv 41- Vi 71' O'l- 73' 51 57)' 62l'i 1 -c-c- 60 1 EasAir 17ii97 17.3 1011 104 Vi S9' 62 19 1231 15 1'. 40 17 "4 1 65l WarlJ 541 cv WaHJ 14.2 WeanSWtJn cv WAk-L $93 cv WCNA 1097 143 WElec 7'96 123 WPt lOsOl 16.1 WPI 15106 16.9 WUC5V.97 CV WUTI 8.45196 119 WUTI 7.9s97 143 WUTI I0S86 110 WsK 1491 143 WstgE 117 Wevh IsIS 9.23 70 60 1 6OV4 V.

61 46 S92 79 70 1' I7 IV 61 65' 64'2 101 95 3 92 54 1 69V4- S9 1 60 -O-O- CIT Is01 US CIT 9s91 119 CMEI 14.0 Cacsr II 163 Caesrl2s94 16.4 Caesr 12' jOO 16.7 CPc4s oero 115 101' 1 105VJ Edwrd 10106 cv Empir 9s05 cv Engm 1105 14.9 Ens 9s95 14.1 Em 7.65191 110 Ens lOsOl cv Estrl 15.7 Exxon 6s97 10.9 Exxon 6i9l 113 ExxP9s04' 119 ExxPS'iOO 111 67l 73-2 71')' 41141 Yl -1 100 2 OcciP 11U2 42 75 60 1 11.1 91 21-321-32 Ogden5s93 cv 13 2 56 61 16 61 6 32 II B1 Is04 119 PJBet I .16 133 MBd 12V.17 143 II Pw 106 112 InMic llsIS 113 InMP 10' .84 113 IndBel 10sl4 14.1 IndBel l)7 133 IndNtl 133 IBM 103 IBM 904 123 IntHrv 6' .91 17.9 IntHrv 195 21.0 IntHrv 9s04 21.7 hiHvC 191 193 InHvC 793 11.9 InHvC i94 183 InHv 9.15182 10.1 InHvC 9sM 133 79 55 Vi 51 69V1 67 Vi CapHd 1206 IS.l 84 56l 60' 1 90 76 34' 41 54 Vl IV. CarPL 702 114 SI 1 42 70 71 CaroT f'sM 14.1 90 2 appropriation for 705 Air Launched Cruise Missiles through fiscal year 1981 and $90 million for development. The first missile was rolled out Tuesday from a new Kent, facility, where Boeing expects to produce between 3,000 and 4,000 missiles over at seven years. The work force on the project was expected to be about 1,500. Congress capitulated to pressure from President Reagan and approved a sale of five AW ACS (airborne warning and control system) planes to Saudi Arabia for delivery in 1985.

The U.S. Defense Department has ordered 34 AWACS planes, and delivery has been scheduled to begin in March 1982. The total value of the hardware side of the contract is $3.9 billion. About 1,500 people work on AWACS, and Boeing planned to add 400 more next year. The Boeing Military Aircraft Co.

is developing the electronic "offensive avionics system" for the B-1B bombers in addition to providing the controls and displays for the defensive and tail-warning Boeing expected to have 2,400 workers on the B-1B program at its peak at the end of 1982. The company's share of business on the aircraft was expected to be about $2 billion. Associated Press SEATTLE Weapons and military-aircraft contracts are increasing at the Boeing but analysts warn that the boom in defense work won't offset the slump in commercial jet sales. "Military sales will be a very meaningful part of Boeing's business, but I doubt if it will ever be more than 20 percent," Hans Pickert, an analyst with E.F. Hutton in New York, said Wednesday.

Commercial jet sales constitute Boeing's cash crop, and sales in 1982 were expected to drop about 14 percent, T.A. Wilson, president of the aerospace giant, said earlier this week. Projects like the Air Launched Cruise Missile are "nice to have," said Wolfgang Demisch of Morgan Stanley the New York investment banking house, but a contract of a few billion dollars stretched over 10 years "isn't of a size to have more than a moderate impact on an entity that is the size of Boeing. This is a big company." Boeing's sales revenues in 1980 totaled $9.52 billion, with pretax-profits at a record $1 billion. Sales this year have been about CaroTfsM 133 65 2 OhBIT 7Vill 13.4 OhBIT 713 133 OhBIT 1220 14.0 OhEd9'i06 153 OhEdl07 133 OtiEd IS'llO 16.1 OhEd ll'10 153 66' Vi 4J- 94 62 -2 6l6 equal to last year's pace, but profits for the third quarter, of 1981 took their first dive in five years.

"It seems unlikely that 1982 earnings will return to the level of 1980," added John MacKenzie, an analyst with Foster Marshall Inc. in Seattle. Even if airliner sales pick up, Boeing is in the midst of two new aircraft programs the 757 and 767 and startup costs will take a big bite out of profits, MacKenzie said. Military sales accounted for about $1.9 billion a year to Boeing for the last three years, based on the products delivered each year, said spokesman Jim Grafton. The figure for 1981 might be a little higher, he said.

Even if military sales and orders did increase, the impact on the profits would not be great, said Pickert. Once production is in full swing, "you make about 4Vj percent after taxes," he said. That's lower than the profit margin on mature programs like the 747 and 727, but higher than margins for programs just getting under way. However, MacKenzie noted that military business is good "because it hires a lot of people." Boeing's major military contracts include: A $318 million congressional CasNG 10'i92 14.0 74'-! Wevh 7.95106 13.0 Wtcke cv WKke 9199 cv Wtcke I' 9.90 Wms 10' .13 10.9 VisC 417004 11.4 WiscTI Isll 114 Witco 4V93 cv Wodw 796 114 Wcolwts99 14.1 601 Farah5s94 cv 45 -2 94 3 CaseS'isrO 9.16 60 CaKC 594 cv 64H 41' 43'-l 40- 40 91 66 71 35 54 2 73' 74 Feddr 5i94 cv 34 Feddr 194 14.1 55 OhPw 10' ill 10.3 91 90 94 55- Figgie 417 cv 63 OhPw IS'. 81 143 103 3 SS 61 kiHvC tlSsU 153 53 CtrfTd Is96 115 59V4-1 ChrlCo 1091 163 64 ChsBk 493 cv 100- ChsBk 816 10.4 84' V.

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