The Galveston Daily News from Galveston, Texas on September 22, 1978 · Page 5
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The Galveston Daily News from Galveston, Texas · Page 5

Galveston, Texas
Issue Date:
Friday, September 22, 1978
Page 5
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Market Makes Gain NEW YORK i UPI) The stock market scored an irregular gain Thursday and its first in eight sessions with the help of bargain hunters and some favorable tax news. Trading was active as some gambling issues rebounded. The Dow Jones industrial average, up and down in a 3-point range most of the day, wound up gaining 3.98 points to 861.14. It had fallen 50.58 points the Carter's Friend Probed WASHINGTON (UPI) The White House began an investigation Thursday of presidential friend Bill Milliken, who admitted he made "an innocent mistake" by seeking federal help for a private developer who had contributed $10,000 to Milliken's charitable programs. "We asked the legal counsel to look into the situation," White House press secretary Jody Powell told reporters. "We're moving as rapidly as we can," he said, adding that President Carter was being kept informed and the president had agreed that a "full investigation" was needed. Milliken, a private citizen who often stays at the White House and uses government office space when he is town, became friendly with the Carters in Atlanta where he operates programs for inner-city residents. In an interview with UPI, Milliken acknowledged, "it looks bad," but insisted "it was all an innocent mistake and it won't happen again." Milliken said he contacted Richard Flemming — a deputy assistant secretary of Housing and Urban Development and a personal friend — on behalf of George Zamias, a wealthy ^ Johnstown, Pa., developer. Zamias later met with HUD officials to discuss a $15.5 million federal grant for a 27-acre shopping mall complex in Johnstown as part of flood recovery efforts. The application for an "action grant" had been passed over prior to the meeting set up through Milliken. Now the request is under coNsideration. Milliken said he first met Zamias last April in Atlanta, and asked him about the possibility of a $10,000 contribution to the charitable programs he runs. The developer later made the donation in installments of $5,000 each. "There was no deal made," Milliken said. "I made a mistake in judgment. I'm just not used to this arena." He said that was the only time he contacted anyone in the federal government on behalf of an outsider. "I was just trying to help Johnstown," said Milliken, a deeply religious man whose concern for troubled children attracted Rosalynn Carter's attention and support, and later the president's. Because of his ties to the Carters, Milliken has been given office space for his programs in the Old Executive Office Building, adjacent to the White House. He earns $26,000 a year from his programs, which Milliken said, receive $1.2 million in federal funds. Milliken draws no federal salary. Decomposed Body Of Man Found The decomposed body of a man whom police believed to have been a transient was found in an alley near 2309 Water by two men Thursday morning. The body was found on a pile of bricks near a building's elevator shaft in the alley, according to reports. Officers could find no visible wounds on the body. An autopsy will be performed to help determine the cause of death. The man remained unidentified late Thursday because police could find no identification on the body* previous seven sessions, including 4.41 Wednesday, setting the stage for bargain hunting. The New York Stock Exchange index rose 0.04 to 57.36 and the price of a share added 2 cents. But declining stocks topped advances by a 4-to-3 ratio among the 1,865 issues traded at 4 p.m. EOT. The Fed disturbed investors by tightening credit Wednesday, putting upward pressure on short- term rates that could eventually result in another prime rate hike and a slowing of the economy. Investors were encouraged the Senate Finance Committee voted to shave two percentage points off the corporate tax rate and to exclude 70 percent of capital gains from regular income taxes. Big Board volume totaled 33,640,000 shares, down from the 35,080,000 traded Wednesday. Composite volume of NYSE issues listed on all U.S. exchanges and over the counter at 4 p.m. totaled 35,102,480 shares, compared with 37,397,620 Wednesday. The American Stock Exchange index gained O.lG to 16G.58 and the price of a share added 1 cent. The National Association of Securities Dealers' NASDAQ index of OTC stocks lost 0.56 to 132.10. Gambling stocks, which took a drubbing the previous four sessions, were active. Ramada Inns was the most active NYSE- listed issue, up % to 12 %. Boeing, the second most active NYSE issue, rose 3 to 65 l /j. Bally Manufacturing was third, up 4 Vu to 51 %. On the Amex, declines topped advances by a 2-to-l margin among the 911 issues traded at 4 p.m. Volume totaled 4,950,000 shares, compared with 5,350,000 Wednesday. Resorts International A when-issued stock was the most active issue, up 4 Va to 47 s /i. The A stock was second, up 13 "A to 140 %. Loew's warrants were in third place on the Amex active list, off'/2 to 20 >/,>. Allied Chcm Alum Co Am Amer Air Am Can Am Cyan Am Motors AmTStT 9/21/78 Receipts Other Porti Total This Day EXPORTS (Foreign) Great Britain France Continent Africa S. America Middle East Orient Total Foreign BendixCorp Beth Steel Boeing Air Borden Borg Warner CampblSoup Celanese Chrysler Cities Serv Coca Cola ColgPalm ColBrdcst Contrl Data ContlCan ConUOil Delta Air DowChem DuPont Eastrn Air ElPasoNGs Ensearch Exxon Firestone 1st Int Bcsh Ford FrprtSul GAF GenElec Gen Foods Gen Motors GenTtT Getty Oil Gillette BFGdrch Goodyear GordonJl Greyhound Gulf Oil Halliburton JLI'Atl _ 2 . 7 _ 4 _- 2 _ 7 _°__ J_ 9 _'_ 8 _ 3 _l._ Honeywell HousInd HoOil-Min Hughes Tool IBM IntHarv IntNickel Int Paper IntT&T John Manv Kaiser Aim Kennecott Cotton— Grain Statement This Week This Season Last 10,862 274,270 79,833 23' » 36 « T ,it 12 H'» 44>t. 20% 57'* 28 : N 122 13 16V 20 37 13'* 32-!* 39*4 17'/4 20 13'* 26 70V 4 39 284 KMart Kroger LigMyrs Litton Ind Lockheed Lykes Mara Oil McDermott MinnMng Monsanto Motorola Mobil Oil NatlCyp NortVstRR PacGasEl PnhdlEst Penney Pepsico Phil Pel Polaroid RCA Raytheon RepubSU RnldsMU RnldsRJ RylDPet Santa Fe Saleway Sears SrvCInU ShrwnWms Shell Un SigOil SoPac SoUnGas SperryRnd StdOilCal StdOHlnd TennecoInc Texaco TxETrns Txlnst TxGHInc Textron TexUtil ToddShpyd Transco UnCarbide UnOilCal Uniroyal US Steel WestrnCo 31 : N M'» •23 28\ 10 Wi, 26\ WS, 57'-. 46 23*. 29 33'n 49*4 29'4 48 25 35' 4 61«.» 63 23 34*4 52','. 31-fs 22* 45','j 45 7 ;» 53 3B4 85 2a 30','j 20'* 27 22 39^ 52'i, Ex-Aide To Assist In Talmadge Probe (D ie 5'A Friday Morning, September 22. 1978 '•1 100 44 3V& 31 k 34% 271,1, Wstnghse Woolworth Xerox Zales Zenith R 55V 4 16'* 7,983 5,551 349 LOCAL INTEREST (The foDowing quotations, supplied by Rotan Mode, Inc., are oo stocks of particular local area interest because of UK nature of the organization or the (act it is locally connected through holdings or operates to this area.) WASHINGTON (UPI) A former administrative assistant to Sen. Herman Talmadge, D-G a., promised Thursday to "cooperate fully" with a Senate Ethics Committee investigation into the senator's finances. The former aide, Daniel Minchew, declined to discuss the case with reporters and referred questions to his attorney, Robert Fierer of Atlanta. "He will cooperate fully with the committee," Fierer said after Minchew, accompanied by the lawyer, appeared briefly at a closed meeting of the panel. Minchew appeared before the committee after a federal judge granted htm limited immunity from prosecution for any testimony he may give before the committee. Minchew will be questioned on his allegations he set up a secret checking account for Talmadge and that it was used for the deposit of improperly claimed expense funds. Talmadge has said the account was opened without his knowledge. The senator has reimbursed the Senate for $37,000 in improper expense claims, but Minchew has said about $13,000 more was placed into the secret ac- Fluorescent lamps save JEFFERSON CITY, Mo. (UPI) — By switching to reduced wattage fluorescent lamps, Missourians could save enough electricity to light 962,000 homes for a year and save as much as $32.7 million in electric costs, state energy officials say. count. Fierer said Minchew was not told when questioning by the committee staff might begin but that his client would testify fully and produce any documents which the committee might feel were "pertinent" to the case. 15,396 202,450 59,355 15-396 215,984 59,804 (Domestic) By Container By Rail By Truck D«s troyed By Fire TOTAL EXPORTS 133,693 33,083 29,503 26,987 8,519 3,969 150 15,396 387,699 123,993 Galveston Stock Statement AmlndFnd AmNUFnd Anheusr Busch Anico Growth Anieo Income ContlTelUU Conn Gen Ins Falstaft GrtSUirn Mitch Energy NatlWLife PenzOfenr Stewart Intor StewrUStev USNatlBcsh Weingarten Bid Asked 17 In 17-*, 25 : H< 3.84 13.57 24% 39-'tk I'/s 43 : !i 21'i 7-S, 12% 30'/4 25% 4.20 14.83 40 Hi 2'A 44Vz 8 13 31 20 6-Ys CORRECTION NOTICE In Sear's 92nd Anniversary circular, on page 9, sewing machine head stock No. 1780 is in error. The correct number should be 1570. TOTAL BALES This Day 381,689 Last Year 139,899 This report provided through Exchange and Board of Trade. the courtesy of the Galveston Cotton Shop Dally 10 a.m. to 6 p.m. Man.-Sat. yea aw aftttd. IN THE PORT HOLIDAY SHOPPING MALL. Gafviilon'i fair KtcTntr-controIlffdmafl-snctt tonvitnl. moil b*Ovlifwf. d inThtM«A(DlC*riltf.Fre« Parting, Menswear Clearance SALE 3 PC. and 4 PC. Mens Vested Suits BT 27". 33" Spatx and H.I.S. 3 piece Vested Suits 18", 37" SAVE UP TO 6.01^ Mens Famous Maker Pre-Wash Jeans 18°° to 21 °° Values 14 Reg. 85°° to95°° Mens Sport Coats Reg. 10.99 to 49.90 Solid & Pattern Styles, I 99 ,10" Haggar & Lev! Co-ordinates 18°° to Values 4",. 25" Reg. 18°° to20°° Haggar and McGregor Double Knit Slacks 3 99 t 5 99 Great looking pre-wash jeans with a super good fit and exceptional pocket treatment. Just the right shades of soft cotton denim. Sizes 28 to 36. Young Mens Spatz Slacks 2" Reg. 23 Boys Vinyl Leather-Look Jackets 12°° Values OOOODPOBBOO GULF ELECTRIC OF GALVESTON, IMC. NOW STOCKS • Btctric Motors, Fws, feels I, Wmdus HICTMC Ebctrkd 1223 TREMONT 762-7132 ANOTHER SPECIAL PRESENTATION BRAND NEW LINCOLN TOWN CONVERTIBLE NOW ON DISPLAY IMMEDIATE DELIVERY BOB PAGAN FORD-MAZDA " Broadway at 77th Gal vest on Phone 744-0481 A great look at a great price! Soft leather look jackets in easy<ore wipe clean vinyl. Fall colors. Sizes 8 to 18. "10" £T Im 1m Shop Dally 10 ojn. to 6 p.m. Mon.-tet. IN THE PORT HOLIDAY SHOPPING MALL. CeKti'on'ifini *»oth«^<cofro**i mcfl- nwtl c»nvit«tf. mo\i t onrf (&rH<asi't «Vr ffW* tOCOtMt M Iht MMkdf Ctntif ttt* f Best Buy in Town Mens Pile Lined Rawhide Leather Jackets SAVE UP TO 50°° A. Compare at 9°° 69 90 B. Compare at 125°° II 75 Fantastic savings on these enuine rawhide leather jac- ets . Warm acrylic boot pile or sherpa lining. Gold, beige, and rust. Sizes S-M-L-XL. C. Taffeta Lined Rawhide Jacket pare at 75°° 59 90 Comfortable taffeta lined rawhide jacket in gold, rust, and beige. Expensive looking- budget priced. S-M-L-XL. Special Purchase Famous maker Long Sleeve Dress Shirts 12°° to 15°° Values 8 99 Mens long sleeve oxford dresshirts in fancy patterns to compliment your wardrobe. All perma-press poly/ cotton blends in sizes 14'/j to 17. Save Up to 3.51 Mens Ties 3" 6*> to 7 s0 Values 100% polyester neckwear in fashion solids and fancy patterns. All fully fined & tipped. Save Up to 6.01 Mens Belts 399 5" to 10°° Values Dress and sport styles in assorted widths colors and grains. Sizes 30 to 42.

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