The Hays Daily News from Hays, Kansas on December 12, 1976 · Page 25
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The Hays Daily News from Hays, Kansas · Page 25

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Sunday, December 12, 1976
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December 12, 1976 PACK 2 HAYS DAILY NEWS Market Rallies Past Week By FRANK W. SLUSSER UPI Business Writer NEW YORK (UPI) - Wall Street, convinced the Carter administration will propose stimulants for the ailing economy, rallied sharply this week in the heaviest trading in nine months on the New York Stock Exchange. The Dow Jones industrial average climbed 22.60 points to 973.15, the best gain since it rose 26.18 points the week ended Oct. 29. The rally put the blue-chip average at its higlst level since it closed at 977.98 on Oct. 4, just as it went into a steep slide because of the sagging ecorriony. The Dow has gained 49.11 points the past month. On a broader scale, the NYSE common stock index gained 1.13 to 56.33 and Standard & Poor's 500-stock index, which includes some over-the-counter stocks, rose 1.94 to 104.70. Advances routed declines, 1,482 to 437, among the 2,104 issues crossing the tape. This was the largest number of issues trading since the February and analysts said it was proof a yearend rally was underway. The volume of 133,299,690 • shares — the heaviest since 136,047,720 shares changed hands the week ended March 12 —pushed this year's total to an all-lime high of 5.026 billion shares. This week's volume, the 12th heaviest in NYSE hisory, compared with last week's turnover of 103,683,880 shares and 74,265,920 traded during the same week a year ago. President-elect Jimmy Carter listened to several economic plans this week from businessmen and economists. The more he listened, the higher the market went. He and his staff said they were leaving all options open until Jan. 20. But it became apparent by week's end the former Georgia governor would propose some sort of program. Carter said late Friday he was mostly concerned about providing jobs and would propose a tax cut if necessary. Thomas B. Lance, the designated budget director, indicated early in the week there would be a limited tax cut, some incentives for business and some federal spending. The one government report that convinced economists and analysts Carter would have to act was one from the Commerce Department that showed corporations plan to spend no more during the first half of 1977 for plants and equipment than they did in the second half of this year. Because the 4.3 per cent increase the department predicted for the fourth quarter was better than had been anticipated, many analysts speculated that if Carter moved, first half figures also may be revised upward. There is, however, a major uncertainty to be resolved. Nobody knows what the ministers of th Organization of Petroleum Exporting Countries will do about oil prices next week at their meeting in Qatar. Wall Street appears to be resigned to a 10 per cent rise. An OPEC spokesman Thursday said reports of 20 per cent were wrong. Hardline Iran, which at one time called for a 25 per cent boost, reportedly had moderated its position. Nevertheless, the Wall Street rally continued. A strong bond market, with higher prices and lower yields, made stocks more attractive. On Friday, most of the nation's banks lowered their prime rate to6'/i per cent and two others—Morgan Guaranty Trust Co. and Manufacturers Bank of Los Angeles—moved to 6 per cent, the lowest level since December, 1972. Sales of existing single- family homes rose about 20 per cent above a year ago. October's consumer credit rose by the largest margin in three years. Retail sales rose 3.4 last week, the first week of the Christmas season, after climbing 1.7 per cent in November. Another rally „factor was that many investors missed new year rallies the past two years and don't want to be left out of the action this go round. Low-priced stocks have paced the yearend rally the past two weeks, but blue-chip issue j began to show some strength in the past few sessioins. Blue-chip American Telephone & Telegraph, the third most active issue, was a pacesetter, reaching an 11- Mall Filled To The Brim By SCOTT SEIRER Of The News Staff For the first time in its five- year history, The Mall has no space to lease. Roma Schramm, Mall manager, said she received some inquiries for space but "all I can do is hope they'll go on a waiting list." Only one storefront rs unused in the North Vine Street shopping mall and it's spoken for. Business should be conducted at that location by the first of the year. It was hoped that the last empty location would be filled in time for the Christmas rush but "we're not going to make it. Leasing (retail space) takes longer than you would ever expect." The leasing she explained, is handled by a California firm, Coldwell Banker, which has Colorado Ranch Sale Brings $314 Per Acre The recent sale of 4,874 acres of the Ida Tupps Ranch farmland near Watkins, Colorado brought a price of $1,544,000. Average price per acre was about $314. Panford-Champlin Farms, Watkins, Colorado, purchased 3,480 acres at a price of $1,129,000, or an average of $324 per acre. Horton-Cavey Security of Denver and Frank H. Carlson of Denver bought an additional 1,400 acres at a cost of $415,000. The sale is believed to be In 1865 fr.m Atctilion to Denver going through Ellis County. THE SMOKY HILL TRAIL by felly RadcilH* Jackson with 15 watercolor prlnti of stage itop> In Kamoj of the But- terfleld Overland Deipatch painted by Thomai L. Currey, K.W.S. Shipped with gift enclosure as designated $11.33 before Dec. 31; thereafter $14.94, Kansas sales tax Included. Portfolloi of 15 prints only, suitable for framing $7.21! Ordor from Library, Colby Community Collogo, Colby, Ks. 67701 ~-j»j Estate By BOB FINCH REALTOR ASK NOW - SAVE TEARS LATER 3 DUyer S VlCWpOint, chnnninP ^nH tnhnnlc Wo could not think of a wor- ?£» fi. buvm to ask us se time to discover that a ^^^^^d^Sav home has basic flaws than •„ ne . ,„ si^ed!" Sled" 3 them. Getting allthe delivered. There is no need to be unpleasantly surprised. How do you avoid this frustration? Have a ready checklist of items to ask your REALTOR - especially on items that the eye cannot see. For example: Type of and age of heating system. Types of siding, insulation and roof. Kind of interior walls. Type of waste disposal (city sewer, cesspool or septic). Type fluoride?). Average or yearly operating costs for utilities; taxes on house for last year and assessed valuation. Accessibility to public transportation, more happy than having both a happy buyer and a happy seller on closing date. These are the facts you should know before you sign the contract. Not after! (NOTbJ We're here to help you should you have a question regarding the sale, exchange or purchase of real estate. Phone or drop in at Bob Finch & Associates, Inc. Realtors. 625-7313. Hays Kansas its nearest office in Denver. Agents there negotiate with prospective retailers, help with franchise requests and follow financing arrangements. "These all require a number of weeks to accomplish, "Mrs. Schramm said. Some leases are arranged by the home offices of major corporations and she, therefore, doesn't meet the new tenants until "they come to decorate the store." But she receives many local inquiries for Mall space. They were especially numerous, she said, in early 1975 and early 1976. Those prospects were referred to the Denver office. The Mall, opened nearly five years ago with 16 stores, now features 35 businesses, she explained. And when the final tenant arrives to claim his space, Mrs. Schramm will be faced with a minor problem. The vacant storefront is now a storeroom for various promotional items, such as stages. Mrs. Schramm says she has rented barn space from Joe Luecke, a nearby farmer, to house those items. year high of 64 with a gain of life on 1,064,400 shares. Analysts said the performance of the nation's most widely held stock influenced more investors into the stock market. Occidental Petroleum, recommended by a leading broker because of its imminent North Sea production, topped the Big Board active list, gaining •% to 21% on 1,317,400 shares. Sony Corp. followed, up IVs to 9l£ on 1,092,400 shares. General Motors, the blue- chip issue that many observers contend sets the market's pattern, was the fifth most active fssue, climbing 2'/4 to 73% on 875,800 shares. Some drug issues registered substantial gains following published reports some analysts believed the issues were oversold during a recent market plunge. Also, a moderate OPEC oil price hike would help their outlook. SmithKlein jumped 6% to 80 and Bristol Myers 3% to 66V 4 . THE A 1 FAMILY^ LAWYER JL Wayward Canary Myrtle's pet canary escaped from its cage one morning and fluttered into a neighbor's back yard. The neighbor captured the bird but refused to give it back. Finally Myrtle filed suit. one of the biggest family- owned land and equipment sales ever conducted in the Denver area. Legere Auction and Realty of Hays conducted the auction. Farm Group Creates Commodity Councils A kick-off meeting for farm commodity councils, sponsored by the Kansas Farmers Union, will begin at 10 a.m. Tuesday at the Hays Ramada Inn. The meeting is scheduled to adjourn at 3 p.m. Tuesday. The Kansas Farmers' Union (KFU) is in the process of creating "commodity councils" for wheat, feed grains, livestock and dairy. Dale Lyon, KFU president, said KFU wanted to respond to producers problems in as realistic a way as possible. "Dealing with problems on a commodity-by-commodity basis will help us do that. We want to look at ways to improve farmers' marketing and bargaining options," he said. Robert G. Lewis, economist and national secretary of the Farmers Union in Washington, will attend the meeting. Interested producers are invited. WITH LEONARD SCHRUBEN Professor of Agricultural Economic* Kansas State University, Manhattan 1950 1955 1960 1965 1970 1975 Wheat harvest is under way in Australia. Since Australia is on the other side of the world, its wheat harvest is the opposite time of the year from harvest in the U.S. Australia is one of the major wheat exporting nations in the world; thus, the size of its crop is important to U.S. wheat producers. Recent estimates point to a crop of B.7 million tonnes this year compared with 12 million tonnes lust year. (A tonne is a metric ton of 2204.fi pounds or .Ifi.V').'! bushels of wheat.) This estimate was reported by the Foreign Agricultural Service of the U.S. Department of Agriculture. A harvest of 8.7 million tonnes would be the smallest since 1972-73. Australia uses about 3 million tonnes per year at home. That leaves slightly more than 5 million tonnes available for export. Exporting more than that amount would require a reduction in carryover stocks. A decision to reduce slocks would depend somewhat on the need for foreign exchange and on Australia's balance of payments. The decision to sell the Australian wheat on the world market is made by the Australian Wheat Board, which controls all wheat sales m that nation. Australia is expected to export less wheat than a year earlier. Hays VFW & Auxiliary Members Stag & Stagette Thursday, Dec. 16th SERVING AT 7:00 P.M. Barbecued Pork*Fried Chicken *5.00 Per Couple or *3.00 Per Person YOUR RESERVATION WOULD BE APPRECIATED New Year's Eve Reserved Seat Tickets Now On Sale Christmas Night Dance . December 25th When the case came to trial, the neighbor argued as follows: "The canary may have been her property while it was in the cage. But once it escaped into the open air, it was 'fair game'. So now it's mine." However, the court ruled in favor of Myrtle, primarily on the ground that the canary had been domesticated. It was no more "fair game," said the court, than an organ grinder's monkey would be if it slipped out of its collar. Generally speaking, an animal that is wild by nature belongs to no one. But once captured and domesticated,\ it may become as much private property as an automobile or a suit of clothes. From then on, even if it escapes, most courts will continue to recognize the original owner's rights. A more extreme case involved a rare species of parrot. This time, the bird escaped and remained at large for almost three weeks. When finally captured, it had made its way to the next county. But again, when the owner proved that the bird had been trained, the court upheld his property rights in the parrot and ordered it returned. On the other hand, consider the saga of a sea lion which escaped from a holding tank into the Atlantic Ocean and was later recaptured by a fisherman. Here, the creature had not been domesticated in any way. The court thereupon decided in favor of the fisherman, pointing out that the sea lion had "regained its natural liberty." "There was no intention on its part," said the court, "of returning to its place of captivity, or of again submitting itself to the domination of the (original owner)." A public service feature of the American Bar Association and the Kansas Bar Association. r 4 4 4 4 4 4 4 4 4 ESTATE PLANNING: A Financial Art •BUILDING: Assets •PRESERVING: Liquidity •TRANSFERRING Minimizing Taxts •Appraisals •Farm & Commercial Property Management •Administrators For more information contact Financial Planners: R. Edwards AIIin L. J. (Bud) Brungardt J707VIH.//U Hayi, KMUM fll-tM-MU mm ESTATE PLANNING & MANAGEMENT Bonded for your protection Record Search In her untidy board room, Chamber of Commerce secretary Mabel Wasinger searches for records. The Chamber's storage space has become part of a doctor's office which Is under con- struction In the basement of the Hays National Bank. The Chamber's board room, therefore, Is temporarily cluttered with boxes. Construction Project Claims Storage Space By SCOTT SEIRER Of The News Staff Because of. a construction project that has claimed the storage room of the Hays Chamber of Commerce, boxes of records are stacked haphazardly in the Chamber's board room. But the mess is tolerated, says Jack Wilhm, Chamber manager. The Chamber is located in the basement of the Hays National Bank building, a building that will be completely remodeled when the bank moves to its new location, now under construction at 27th and Gen. Hays Road. Everett Hess, president of the bank, explained that the bank's downtown Community Room, located in the basement next to the Chamber office, is currently being remodeled into a doctor's office. Dr. Roy Neil will be the tenant. That construction has claimed a storage room formerly used by Chamber. But, said Hess, when the bank moves out early next year the Chamber will be given additional basement space now used by the bank's bookkeeping department. The changes, said Hess, will give Wilhm's Chamber crew "more room" than they've had before. The main floor lobby will be divided into two offices. The north side will be leased by attorney Gregory Herrman. Leasing agreements for the south side have not been completed. The Hays National Bank will retain some space at the rear of the downtown building for teller service and safe deposit boxes. And the drive- in teller service will be maintained. Hess said he expects to move his bank to the Spanish- style building near 27th and Vine in February or March. O-K Cattle Management Conference Scheduled Management of stocker cattle and cow herds, reproductive performance and the production and use of forages will be the major program areas for the second annual O-K (Oklahoma- Kansas) Cattle Conference at Oklahoma State University, Tuesday and Wednesday. Roger L. Hendershot, Ellis County Agriculture Agent, said the Oklahoma Cattlemen's Association and the Extension Services of OSU and Kansas State University would be joint sponsors. Registration will begin at 8 a.m. Tuesday at the OSU Student Union. The conference proper will begin at 9 a.m. in the Union Theater. Speakers and panelists will be scientists and extension Is College Trustee WALTHAM, Mass. (UPI) — Leonard Bernstein, conductor of the New York Philharmonic since 1969, has been named a trustee of Brandeis University. Bernstein, who helped develop Brandeis' School of Creative Arts and was a faculty member in the university's music department from 1951 to 1956, has been a member of the Brandeis Board of Fellows nearly 20 years. specialists from . both universities. The morning session will stress stocker calf and cow herd management, including the outlook for cattlemen and stocker operators, buying and selling calves to the best advantage, implanting for profit, wheat pasture bloat and Monensin for stockers and cows. Tuesday afternoon subjects will include managing for profitable reproductive performance, coping with calving difficulties, hormonal modification of the estrus cycle,, health programs for cow herds and care and feeding of herd bulls. Evening sessions are also planned. Each will be art informal question and answer presentation. Subjects will include animal health, cow herd nutrition, stocker cattle management, reproductive physiology and genetic improvement. .The Wednesday morning session will start at 8:45 a.m. Topics will include grazing systems for native range, complementing native range with other forages, managing for top production from native grass, fescue and legumes in forage programs and ber- mudagrass and beef cattle. A discussion on the production and use of forages heads up the afternoon session. , Interested beef producers should contact their county Extension offices regarding pre-registration information and other details about the conference. Accounting Firm Opens New Office A local accounting firm opened new offices in Hays December 1. Robert L. Wolf Public Accounting moved into its new quarters at 1000 D Cody Avenue and also opened a sub- office in Ellis. Wolf, a Hays native, specializes in income tax matters, particularly farm taxes. He is a graduate .of St. Joseph's Military Academy and also holds an accounting degree from Fort Hays State. After graduating from Fort Hays State in 1972, Wolf worked for three years at Loew's Accounting in WaKeeney, He also has two years experience at Midwest International. Wolf will work in the Ellis office on Tuesdays and Thursdays. He and his wife, Susan, have a 21-month-old son, Jeff. Real Estate Transfers JTWD Robert M. Orth etux to Christopher W. Lear etux S 55'Lol 8 and N 15' Lot <J Blk 15 Sunrise Add NEW UNIQUE SERVICE Hays, America BUSINESS CONSULTANT Quick Accurate Advice Reasonable Fee by JOHN B. SNAPP RESIDENT OF KANSAS •Formerly counsel to corporation!. •Yale Law School, J.D., 1946 •Knox College « U. of I., Illi- nol>, Economics A.B. 1937 PBK •g.S. Navy War II, 1942-1946 •Central High, Omaha, 1933 (All A's) •Born Tulla, Texas, 1915 117 WEST 8th Svlto • 6ZI-3III •OX4U, HAYS JTWO Mary Funces Classman etvir to Tom L. Koss flux Lot 1 Except E 28.01' lilk I Huvs Plaza Kifth Add WD William F. Brown etux to Schmidt Construction Inc Lot 34 In Replat of Wasinger Heights Add JTWO Gerald A. Pfeifer clux to Walter J. Leglciter etux Lot 12 Blk 14 Sunrise Add JTWU Sol L liriand etux to Curtis A Kitson etux N-2 of Lot 15. 17 lllk 42 Hays Grig JTWU Thomas A Kocrner etux to Lawrence K Jordan elux Lot 32 Btk 9 Sunrise Add. WU Darlene Jacobs etvir to Rita Wolf SK-4 35-12-19 Kesv. Minlnt. Alphonse Wolf to Darlene Jacobs NW-4 4-13-17 Kesv. Minlnt. Wll James L Myers etux to Donald J Wolf etal Lot 13 Ulk 14II P Wilson Add. JTWU Edwina Geisl to Alfred Geist eluxN-2SE-4:«J-r.M7 WD Krueger Inc. to Kenneth C llavner etux S-2 of Lots 7 4 a Blk 5 C.W. Kecders Add. JTWD Otto K Chew Jr. etux to James M Callison etux Lots 2 4 4 Blk 11 Fract. Blk C W. Iteeders Add. JTWI) L B MfCaleb etux to Grin L Strobe! etux Lot 6 & N-2 of 7 Blk 4 School Add. JTWD Martin M Yunker elux to Martin M Yunker etux Lot 12 Blk 20 Fairview Add. Lot 14 Blk 1 P C Dechanfs Subdv. NW-4 22-H-17 Corp D Vernon N. Erickson etal, Trustees of the Presbyterian Church & Society of Hays City to Ellis Historical Society Lots 14,16.18 Blk 9 H P Wilson's Add JTWD William I Kupp to Peter Pilatus etux Lot 3 Blk 8 H P Wilson's Add. WD Wilma Frazier to Theodore Uinges W 91' of Lot 16 Blk 4 Northridge Est. Add. WD Leo J Dreiling etal to Dillon Iteal Estate C« Inc. tracts in SW-T.M-r.i-18 Consv. D Virginia V. Dreiling Consv. to pillon Heal Estate Co Inc. Tracts in SW-:i84-i:t-l8 Easmont D Joe F Meier etux to Dillon Iteal Estate Co Inc. tract in SW-4 34-13-18 JTWD Anthony Bollig elux to Robert F Stramel etux a tract in SW-4 6-14-16 QCD Charles G. Nicrnberger etal to Nora Nicrnberger W-2 28-13-20 WD Van Doren Development Co to Albert Weiael Jr S 7(1' Lot 20 Blk I Seven Hills Second Add JTWD Wayne E Blanlon etux to Charles D Howard etux Portion of Lot l.'l Hinkhouse Subdv. of Lincoln Dr. JTWD Alton J Worth etux to Gilbert Schmeidlcr etux Lot 28 Blk 2 Bicker 2nd Add. JTWD LeRoy W Brungardt etux to Robert L Munsch etux Lot 4 Blk 4 Schoenchen • WD C'A Pfannensliel elux to Shirley D llobbs Lot 12 Blk 87 Lebold Allen & Co. WEEKLY FAIR RIO DE JANEIRO, Brazil (UPI) — Tourists in Rio who are unable to visit Brazil's northeast area should spend a Sunday morning at the weekly Northeasterners Fair. The combination market and exhibition of artisans' work is open every Sunday morning in the Sao Cristovao Exhibition Hall and features music, food and a variety of handicrafts.

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