The Philadelphia Inquirer from Philadelphia, Pennsylvania • Page 36

1 Investor Guideposts Inflation Is No Guarantee Your Stocks Will Advance By ROYAL H. PLENTY Financial Editor 1944, seven pictures purchased by the 1 late Edward T. Stotesbury were solich auction. These pictures, included five by George Romney, and one each by Sir Thomas Lawrence and John Hopper, had cost Stotesbury $943,000. They brought only $68,700.

The moral of this small story is that even if great art is a good inflation hedge you have to pick the right pictures. The same can be said of stocks. The University of Pennsylvania's Dr. Julius Grodinsky in a letter for the Studley, Shupert Trust Investment Council recently explored some of the lems that can cause stocks cline even in periods of inflation. He points out that those industries that profit from inflation are the growing ones that are able to advance their selling prices in line with rising costs.

notes that in tries either growth has lessened, her selling prices have declined, or a combination of both has cast a shadow upon the growth of future profits. 66 THE decisive deflationary factor," he states, "whatever the ultimate controlling causes may be, is the result of a productive capacity in excess of demand, and an inability to arrest a declining price level. At the present time there are three industries that merit serious vestment reappraisal in the light of these forces." These three, according to Dr. Grodinsky, are the automobile and chemical industries. The problems of the oil industry stem from "a heavy increase in capacity over the past few years" combined with "a demand that has failed to expand in accordance with economic expectations and with almost universal forecasts." Without examining the supply and demand forces in this industry, Dr.

Grodinsky notes that it is clear the costs are rising and prices are falling. He also finds that costs are rising in the automobile industry and demand is not expanding at anticipated rates. "In addition," Dr. Grodinsky states, "the prestige of highpriced automobiles, according to all indications, is ebbing. The high profit margins associated with the high-priced cars are declining and the industry will thus lose a substantial part of the high profit margins which justify the Average Price of 30 Leading Stocks THE PHILADELPHIA INQUIRER, MONDAY MORNING, MAY 4, 1959 ad 152.988 Frank E.

Bilhardt, plant manager, and 988th car made at Chrysler's Newark, facility in the first two years of the company operation there. Auto Facts Newark, Plant Builds Car By PAUL R. HAYES Inquirer IXTEEN Plymouths rolled 30, 1957, the first day ark, plant was in second anniversary, the plant output now is 725 daily. The facility, with 1,600,000 square feet of floor space under one roof, opened with 850 employes. The work force today numbers 4500 on two shifts and the annual payroll is $20 million.

Current output, geared to dealer orders, is still short of the 60-carper-hour capacity. Strictly an assembly plant-no no parts are made there keeping the bins filled with the 8500 individual bits and pieces that go into a 1959 Plymouth or Dodge requires 30 railroad car and innumerable truck loads daily. The heaviest single units received from Chrysler manufacturing plants or the firm's suppliers are the engines, the lightest perhaps an upholstery screw. Conveyors feed floor pans, fenders, cowls, quarter panels, trunk and roof stampings with split-second precision into one sub-assembly line where they are welded together to form the car's body which is then routed through paint ovens, water test and trim operations. Simultaneously the chassis, suspension, rear axle, engine, transmission, driveshaft and wheels are being bolted and welded together on an adjacent sub-assembly line to match the specified bodies.

Where the two lines merge, the finished body and chassis are joined and the car is driven to the parking area to await shipment. Only Dodge and Plymouth are assembled at the Newark facility accurate programming enables a product "mix" that intermingles two and four-door sedans, hardtop coupes, station wagons and convertibles. A power trunk release mechanism which permits the driver to unlock and open the trunk of a 1959 Oldsmobile without leav. ing the front seat or taking the key from the ignition, has been added to the list of optional equipment available on all models. The system, actuated by a handle in the glove box, uses engine vacuum to release the lock.

The lid then moves to the open position by action of the trunk lid torque rods. Locating the remote control handle in the glove compartment keeps it out of sight and permits its being locked when valuables are carried in the trunk. A vacuum reserve tank is the source of power when the engine is not running. Dodge has added a limitedproduction, two sedan to its model line up for the remainder of the 1959 run. As the name "Siver Challenger" implies, it features an all-silver exterior color.

This theme is carried over into the interior finish with silver metallic vinyl and black fabric upholstery. Engines available include the 135-horsepower, six-cylinder powerplant or the V-8 rated at 255 lhp. Suggested factory retail Advertising Highlights Robert K. Farrand has. been appointed Director of Public Relations of the Curtis Publishing replacing E.

Huber Ulrich, who was appointed senior vice president and director of circulation. Farrand has been marketing manager of the Saturday Evening Post. sse Ballew was named R. K. FARRAND to succeed Farrand as marketing manager.

After 17 years as the Philadelphia advertising agency added a principal, changed the corporate name to Seberhagen, Nevin Gruver, and moved to 1620 Locust st The Mortgage Bankers Association of Philadelphia has appointed the Richard A. Foley Advertising Agency, to handle advertising, sales promotion and public relations Joseph McHugh has been appointed advertising manager of Mister Softee, the Nation's largest mobile distributor of soft lice cream Fien Schwerin Auto Editor from the assembly line April Chrysler $40-million Newoperation. Last Thursday, on its produced its car and prices, excluding State and local taxes, are $2530 for the six and $2650 for the V-8. NOTES FROM THE LOCAL INDUSTRY: C. A.

Burke, manager of International Erie Ave. branch, has been named an assistant manager of Harvester's Philadelphia truck sales district. Burke joined the Harvester company in 1946 and has served previ-1 ously as zone manager and fleet salesman. Service C. A.

BURKE award pins have been presented four employes at the Ford Motor Delaware Valley Parts Depot at Pennsauken. Receiving pins were Carl Pacitti, of 229 Greenwich Philadelphia, and Howard L. Perry, of 163 Harvey Linwood, both 30-year men; and Joseph DeFrancesco, of 1315 Wharton Philadelphia, and George L. Potts, of 615 Hunter Gloucester, 20 years. Directors of the Budd have elected Herbert A.

Boas, a vice president. He joined the company about one year ago as Director of Marketing and also was named a member of Budd's toplevel Policy Committee. He will continue to serve in both capacities under his new H. A. BOAS, JR.

title. Stanley Brooks has been elected vice president in charge of sales of H. W. Butterworth Sons division of Van Norman Industries, Inc. He succeeds Edward S.

Pierce, who resigned Richard G. Burton, formerly associated with Williams, Brown Earle, has been appointed vice president and general manager of Executive Employment Service, Inc. Frank R. Shuman has been appointed manager of process development in Sun Oil Co's research and development division. Dr.

Henry E. Mahncke, formerly assistant manager, eastern research division, Ray. onier, has been appointed as chemist by SKF Industries. Elwood H. Sacks has been appointed assistant controller of Abbotts Dairies.

B. J. Gray has been named vice president in charge of biological and pharmaceutical production for Wyeth Laboratories, succeeding John D. Cash, who is retiring. Stanley L.

Albright has been named manager, Plant No. 2, Hunting American Spring Machine a division Metals, of Inc. Samuel S. Childs has been elected chairman of the board of John E. Sjostrom Co.

Pemberton H. Shober, assistant general sales manager, has been promoted to assistant to the president of General Coal Co. Valley Personalities Old York Rd. Banking Gets 2d Branch Perch P. Hankin, president of the Bank of Old York Road, received approval from the State Secretary of Banking, to establish a branch in the Brentwood Shopping Center, Abington township.

The branch will be the second established by the Bank of Old York Road. The parent bank, established and Easton Willow Grove, seven years ago, is at York Old and at the end of 1958 had assets of more than $12,000,000. Summary of Earnings Reports Company Period Home Prods. Quar. Mar.

Anaconda Co. Quar. Mar. British Col. Pwr.

Forest Pr. 12 6 mos. mos. Mar. Mar.

Montana-Dakota Utils. Quar. Mar. Valspar Corp. 6 mos.

Mar. d-Net loss. Kent Is Slated As Bond Club Speaker Here The Municipal Bond Club will hold a luncheon meeting tomorrow at The Barclay. Robert F. Kent, State Treasurer, will be the speaker.

Banking Club The Banking Club of the University of Pennsylvania will hold its annual banquet May 18 at Houston Hall. Edmund W. Tabell, Director of Institutional Research, Walston New York, will be the speaker. Industrial Advertisers A panel discussion will feature the dinner meeting of the Eastern Industrial Advertisers Association at 6:45 P. M.

Thursday at the Poor Richard Club. Douglas C. Miner, advertising manager of E. F. Houghton will be the moderator.

Panel members will be George C. Busby, president of the Chilton Shelton Fisher, vice president of McGraw-Hill Publishing Philip Hubbard, president of Reinhold Publishing and Burdette P. Mast, president of Conover-Mast Publications, Inc. Penna. Inst.

of CPA's John W. Queenan, CPA, vice president of the American Institute of Certified Public Accountants, will speak an awards dinner to be held the Philaat, delphia chapter of the Pennsylvania Institute of CPA's Wednesday at the Bellevue-Stratford. Queenan will speak on "Continuing Education A Broad View." The dinner will honor the successful candidates of the CPA examination of last November. Anaconda Earnings Rise in 1stPeriod NEW YORK, May 3 reported first quarter earnings the similar 1958 period. Net income rose to $16,250,000, equal to $1.52 per share on the shares outstanding, a 10,714,627 from $6,130,898 or 59 cents a share on the 10,409,191 shares outstanding a year earlier.

Sales jumped to $43,703,000 from 078,422 in the first three months of 1958. The first quarter also showed improvement over the last An Open Letter to ENGINEERS Attending The ELECTROCHEMICAL SOCIETY meeting Clevite Transistor Products, Waltham, a leader in the Semiconductor field has need for your talents. We would like to meet with you to discuss professional opportunities with our organization. Local interviews just four blocks away from Electrochemical Headquarters. Call Mr.

R. E. Caron, Engineering Placement Director at Pennypacker 5-7228 for appointment. Citizenship not required. If inconvenient, write in complete confidence to Engineering Placement Director CLEVITE CLEVITE si TRANSISTOR PRODUCTS 257 Crescent Waltham 54, Mass.

TWinbrook 4-9330 NOW CAN STOP Throwing your money away on high fuel bills with the JENNINGS FUEL CONTROL SYSTEM Cuts your oil bills or more AND LOOK WHAT IT COSTS: Nothing, really. Priced at only small fraction of what you would have to pay, it quickly pays for itself In fuel savings. As a matter of fact, Jennings will be very happy to rent it to you and guarantee that the fuel you save will be greater than the monthly payments. PHONE FOR FREE COMBUSTION ANALYSIS NOON BA 5-5200 M. Jennings Sons Co.

"Serving Since Lincoln Was Ritter Ritter Finance Company, Pursuant to the provisions of Section 11 (a) of the Securities Act of 1933, as amended, Ritter Finance Company, Inc. has made generally available to its security holders an earnings statement covering the twelve months' period ended December 31, 1958. Copies of such earnings statement will be mailed upon request to any of the Company's security holders and to other interested parties. RITTER FINANCE COMPANY, INC. Wyncote, Pennsylvania May 4, 1959 EXECUTIVE SUITE ENTIRE FLOOR UNIVERSITY BUILDING 16th Locust Sts.

Air Conditioned HAROLD B. HESS CO. 226 S. 16th St. KI 6-0131 LOOKING for a place to live? Be sure you see The Inquirer's Real Estate Pages.

Week after Week, you'll find the widest variety and biggest selection of homes for sale in The Inquirer. Check the Real Estate Pages every day. Delaware Valley, U. S. A.

Caloric to Construct New Research Center By HARRY J. LA CROIX VALORIC APPLIANCE CORP. is planning an expansion of its facilities at Topton, Pa. The concern, manufacturer of gas appliances and architectural porcelain products, will build a new research and development center adjacent to BASED UPON DOW-JONES AVERAGE OF 30 LEADING INDUSTRIAL STOCKS ON THE NEW YORK STOCK EXCHANGE NIGE 650 475- EXTREME HIGH RANGE LOW 625 I Apr. 599.65 Upon Prices Daily May 600 Based Closing 575 571.73 625.06 575 434.04 050 195.35 550 525 525 500 LAST WEEK'S DAILY RANGE 6401 635 425 625 630 Har CLOSE 620 620.49 400 615 400 350L 1350 Jan.

Feb. Mar. Apr. May June 1955 1956 1957 1958 1959 relatively high market prices for its stocks. Another factor operating in the same direction is the heavy increase in the imports of low- foreign cars, and this turn is forcing domestic automobile manufacturers to enter this low-priced and low-profit-margin market." RODINSKY finds the picture in the chemical industry con- fusedost branches of the chemical industry are still growing rapidly," he states, "but substantial overcapacity has developed in many lines.

In view, however, of the constant rise in demand it is possible that the rising capacity will, in the course of the next two or three years, be absorbed by the rise in sales." He concludes that the forces of deflation in particular industries in the inflationary economy "create one of the most important, and at the same time one of the most difficult, investment. problems and one that warrants the most careful study." THE fundamentals of the elecI tric utility industry are excellent, according to Hemphill, Noyes Co. "Growth in customers, revenues, net income and, more important to the common stockholder, net per share are increasing consistently as are dividends," the firm's weekly investment letter states. Hemphill, Noyes notes that last year the electric utilities showed a growth in revenues of about 5 percent and an increase in net income of 7.6 percent. "The outlook for 1959," the letter says, "appears to be equally promising.

Over kilowatt hour sales should increase between 8 and 10 percent over last PHILADELPHIA ELECTRIC COMPANY Dividend Notice Dividends of 56 cents a share on the COMMON STOCK, and 25 cents share on the $1 DIVIDEND PREFERENCE COMMON STOCK have been declared pay. able June 30 to stockholders of record at the close of business on May 22. Checks will be mailed. C. WINNER Treasurer PHIA TRANSPORTATION COMPANY CONSOLIDATED MORTGAGE BONDS, SERIES DUE JANUARY 1, 2039.

TO THE HOLDERS OF THE ABOVE BONDS: Notice is hereby given that the Philadelphia Transportation Company has determined that there is no net income available for income interest on the aforesaid Bonds for the year ended December 31, 1958. Holders of the aforesaid Bonds are hereby also notified that Trust Company, as Trustee under the Trust Indenture dated as of January 1, 1939, securing the above Bonds, has amended its Complaint in the case of Fidelity-Philadelphia Trust Company C. P. No. Philadelphia Transportation Company, 4, Philadelphia County, June Term 1958, No.

1375, to contest the Company's aforesaid determination of income available for income interest for the year ended December 31, 1958, as well as for the year ended December 31, 1957. INCOME INTEREST COUPONS (NO. 20) DUE JULY 1, 1959, SHOULD NOT BE PRESENTED FOR PAYMENT AT THIS TIME BUT SHOULD BE HELD PENDING THE FINAL DETERMINATION OF THE LITIGATION. FIXED INTEREST COUPONS (NO. 41) DUE JULY 1, 1959.

SHOULD BE PRESENTED FOR PAYMENT IN THE USUAL MANNER: The income interest coupons are attached to the left-hand side of the Bonds and the regular fixed interest coupons are attached to the right hand side of the Bonds. PHILADELPHIA TRANSPORTATION COMPANY By Howard W. Barndt, Secretary. FIDELITY -PHILADELPHIA TRUSTing COMPANY, TRUSTEE By H. L.

Walters, Vice President. FINANCIAL NOTICES NOTICE TO THE HOLDERS OF PHILADEL. PROPOSALS THE UNITED STATES OF AMERICA, REPRE- sented by the Department of Commerce, Maritime Administration, invites sealed bids from United States citizens to be received by the Maritime Administration, U. S. Department of Commerce, G.

A. O. Building, Washington 25, D. no later than June 8, 1959, for the construction and outfitting and delivery to Camden, New Jersey, of a Vessel Ship-Side 0129 Reactor Servicing 36'0" in having a displacement and of measuring, in length bids about 650 tons. further Copies of information the invitation for giving may be ob.

of tained Commerce, upon request Maritime from the Administration, Department Washington 25, D. C. its Topton plant. Caloric, which has its executive offices in Jenkintown, said the new center will have complete facilities for engineering, designing and styling and will include modern laboratories, model shops and studios. Julius Klein, president, in commenting on the new center, said the company "attributes much of its recent and expansion to the effects of a full-scale, forward-looking program of research which has enabled us to develop and make practical new and better products for both consumers and industry.

The new center has been planned to increase our emphasis in this important area." Klein at the same time announced that the firm's total gas appliance sales for the first quarter of this year spurted 35.3 percent over the comparable he period of 1958. This gain, said, compared with a general increase in the gas appliance industry of 15.9 percent. The Majestic Press, 5th Poplar Philadelphia, has expended more than $500,000 over the last year on the tion of its plant and installation of new machinery, Included in the printing firm's program was the installation of a $350,000 giant new web offset press built by Harris-Cottrell. General Electric Co. has established a new engineering center in Collingdale.

It will be used to explore new designs in equipment for the conversion of electrie power by static means. GE said the new center will stress development of silicon semiconductor and power equipment for the electrochemical, steel and aluminum industries. The new center consolidates GE's static power equipment velopment centers formerly located in Philadelphia, Lynchburg, and Schenectady, N.Y. E. J.

Lavino Philadel- phia, plans the construction of a new plant at Freeport, for the production of high grade magnesite, a component used by the firm in the manufacture of its refractory products. vino said the plant will cost about $3,000,000 initially. Plans already have been made, the firm said, spend considerably more than that on step by step enlargements in the fu- Lukens Steel Co. has completed the largest single expansion program in its 149-year history. At a total cost of $33,000,000, Lukens has increased its steel making capacity by 24 percent and raised its plate-rolling facilities by some 40 percent to make it the third largest producer of steel plate in the Nation.

Financial Shorts CAMBRIDGE, Mass. Inc. acquired ownership of four companies in what the company described as a "move to provide full coverage of the steadily world market atomic prodexpanding, ucts." Baird manufactures electronic and atomic instrumentation, spectrographic equipment and military infrared systems. The companies purchased were Atomic Associates, of New York, Atomic sociates, of California, Atomic Accessories, Inc. and Atomic Development Machine Corp.

The latter two are in New York. A BOOST in the annual dividend rate from percent to percent was announced by Clifford P. Allen, president of Home Unity Savings Loan Association. The rate will be reflected in the dividend payable June 30, 1959. Fire Rites Mark Orthodox Easter JERUSALEM, May 3 holy fire from the old city Church of the Holy Sepulchre, where Jesus was buried, was here yesterday for spreading among Israel's Greek Orthodox churches, now celebrattheir Easter.

flame, symbolizing Christ's resurrection, was kinat the tomb of Jesus by. Jerusalem Patriarch Benedictus and handed over, to drite Mandelbaum Ignatios Gate. Ignatios blessed the flame and handed it to Archimandrite Nocodem, head of the Russian Orthodox Ecclesiastical Mission, who was to send it to Moscow. Tito Plays Host To Deaf- BELGRADE, May 3 Matubara, a deafmute Japanese, student who writes and reads In 17 languages, 1958 is here for a 10-day visit 1.36 as a .59 guest of President Tito. 3.16 asking about a He wrote Tito .07 .76 Yugoslav trip and the President made the arrangements.

Deaths Barth, Mary A. Blair, Leroy L. Boardman, Wallace Louis, E. Burton, Willetta H. Edward T.

Cheroka, Theodore Conway, Catherine Mary Ellen Deutsch. Samuel Dougherty, Andrew Dunn, M. Sr. Ebinger, Phillipine Emmons. W.

Frick. Cornelia B. Galli, Lena Glickman, Bessie Greenberg, Fannie Grzesnikowska, 7. Harrington, Thomas Henrich, Frank W. Hickey, Mary E.

Kendra, Victoria Kociszewski, Bruno Krants, Dr. F. E. Langan, Florence T. Leiderman, A.

Death Notices Lewis, Arthur M. Lippincott, Idella Lord, Bertha E. Malcolm, W. 8., Sr. Marlin, John E.

McAlarmen, Frank McCrohan, Earl M. McNamee, Mary Moskofsky, G. Murphy, Josephine Naimoli, Giovanni O'Brien, Lillie Ohiig, Nedra I. Orr, George A. Raufer, Rachel Reid, Martha B.

Ridey, John Steele Rowles, Elmer E. Sharp, Alma C. Siple, Ambrose K. Slaugh, William G. Stem, Samuel G.

Strohm, Charles T. Stoudt, Howard W. Stevenson. G. R.

Wolton, Peter on Page 32 year. Revenues will also be aided by rate increases for there are a great many pending, and many of the rate increases granted in 1958 will make their full benefits felt in 1959. We would, therefore, estimate that over-all the electric, to 8 utility percent industry increase could in net income, which should result in a repetition of the rising dividend trend of 1958, but to an ever greater degree. "The most interesting aspect! of the utility industry is that the electrical energy electric, appears to be in a long-term growth trend," the study continues. "Population growth, coupled with automation of industry; the home, and the farm are compounding the increase in use.

Since 1929, the average use per residential customer has increased from 502 kilowatt hours to 3366 in 1958. The figure for 1959 is expected to increase substantially to about 3600 with greater sales of appliances." PROPOSALS PROCUREMENT CITY OF PHILADELphia. Sealed bids will be received and read Friday, publicly May in Room 22, 313, City Hall Annex. 1959. at 2:30 M.

DST, proposal for (s) the listed Department of Public Property below. No bids will be accepted Statement unless a Questionnaire Financial questions for. fully Qualifyina answered is Bidders with all filed with Division of Architecture Engineering in Room 1329, City Hall Annex, at (1) week prior to the time of opening least one bids. Information pertaining to form of contract and bonds may be obtained in Room 715, City Hall Annex. Plans, Specifications and Questionnaire Financial Statement for Qualifying Bidders may be obtained in Room 1326, City Hall Annex, upon deposit of $25.00 certified check for each set of plans and specifications.

Deposit will be refunded upon good return condition of plans and specifications within 10 davs after bids in are opened. Bid 4181 General tion. Bid 4182-Plumbina Work, Bid 4183 -Heating and Ventilating Work, Bid 4184 -Electrical Work, for the erection of Police and Municipal 11th Wharton Bid 4188-Brick Wall -N. E. Corner Broad Spruce Sts.

($10.00 deposit required: Bid 4197-Heating and Ventilating Work, for Rehabilitating the Plumbing and Heating Systems in City Hall ($50.00 deposit required). MICHAEL H. SURA, Commissioner. PROCUREMENT CITY OF PHILADELphia. Sealed bids will he received and read publicly in Room 313, City Hall Annex, on Friday, May 22, 1959, at 2:30 Daylight Savina Time, for the Department Commerce.

Division of Aviation. proposal Is) listed below. No bids will be accepted Statement unless for a Qualifvina Questionnaire Financial Bidders all questions fully answered is filed with the Deputy Director of Commerce for Aviation, 3rd Floor, Philadelphia International Airport, at least one, (11 week prior to the time of opening of bids. Information pertaining to form of contract and bonds may be obtained in Room 715, City Hall Annex. Specifications and Questionnaire Financial Statement for Qualifying Bidders may, be obtained in the Engineering Branch Office, Buldina, Philadelphia International Airport.

Division of Avation. 3rd Floor. Air Terminal Bid No. 6647-Philadelphia International Airport Additions to Existing City Telephone Equipment System in Terminal Building. MICHAEL H.

SURA, Procurement Commissioner. PROCUREMENT CITY OF PHILADEL- phia. Sealed bids will be received and read publicly in Room 313, City Hall Annex. on Monday, June 1, 1959, at 2:30 P. of Public Property, proposal (s) listed Daylight Saving Time, for the Department No bids will be accepted unless a tionnaire Financial Statement for QualifyBidders with all questions fully swered is filed with Division of Architecture Engineering in Room 1329, City Hall Annex, of of least one of (1) bids.

week prior to the time opening Information pertaining to form of contract and bonds may be Plans, obtained Specifications in Room 715, City Hall Annex, Questionnaire. Financial be obtained Statement for Room Qualifying Bidders may Annex, upon, deposit in of 1326, $50.00 certified for each set of plans and specifications, Deposit will be refunded upon of tien plans and specifications in good condiwithin 10 days after bids are opened. Bid 4165-General Construction. Bid 4166 Heating and Ventilating, Bid 4167-PlumbBids 4168-Electrical, ment-Metal Lockers, for the erection of a Police Station at 17th and Montgomery Avenue. MICHAEL H.

SURA, Commissioner. Cardinal Grente Dies in France LE MANS, France, May 4 (Monday) (AP). Georges Cardinal Grente, one of eight French princes of the Roman Catholic Church, died today. He would have been 87 tomorrow. Ill for a month after suffering a severe attack of flu, the aged Cardinal lapsed into a coma Sunday.

He had been in poor health for several years. Cardinal Grente was the second Cardinal to die since Pope John XXIII ascended the throne of St. Peter last Oct. 28. The first was Chile's Jose Maria Cardinal Rodriguez.

Pope John increased the College of Cardinals from the traditional 70 to a historic high of 74 last November. Cardinal Grente received his Red Hat Dec. 1, 1953, at the same consistory that saw Pope John become Angelo Giuseppe Cardinal Roncalli. FRANK W. (FRITZ) HEN- 'Anaconda Co.

today increased 165 percent over quarter of 1958, in which earnings came to $14,574,032, or $1.36 share. Clyde E. Weed, chairman of the board, said the year-to-year improvement, while partly due to substantial increases in deliveries of fabricated products, was principally the result of increased copper prices. The red metal's price rose from 29 to cents a pound during the period compared with a price of 25 cents a pound for most of the first 1958 quarter. Copper deliveries were only higher in the first quarter than a year earlier, Weed said, and they exceeded production by less than 1,000 tons.

"In the absence of extended work stoppages when major labor agreements expire this summer it appears the balance of copper supply and demand will be maintained on a reasonable basis throughout the year," he added. He referred to the fact miners' contracts expire June 30. Anaconda is the last of copper's big three to report on earnings in the first quarter, Phelps Dodge Corp. earned ($1.28 a share vs. 67 cents in the first quarter of 1958, while Kennecott Copper Corp.

net rose from $1.08 a share to $2.03, Unitarian Merger Approved by 3-1 BOSTON, May 3 (AP) -Unitarian and Universalist churches and fellowships have approved by a 3-1 margin a proposal to merge the American Unitarian association and the Universalist Church of America "at the earliest feasible date." Results of voting were announced today by Dr. William B. Rice, of Wellesley Hills, chairman of a joint merger commission which conducted a preliminary plebiscite. RICH, a retired business machine salesman and one-time Phillies outfielder, died Friday at his home, 358 W. Mount Airy ave.

He was 59. Mr. Henrich was with the Phillies in the 1924-25 seasons. He also had played 'football with the Mount Airy semipro team and Penn Athletic Club teams. He was a graduate of St.

Joseph's Preparatory School and College. He is survived by a daughter, Mrs. a sister. Solemn Requiem Mass Joan E. 5 Karam, two brothers and will be sung at 10 A.

M. Wednesday at St. Madeleine Sophie Church, Greene and Upsal sts. ture, MISS JOSEPHINE A. MURPHY, a retired Philadelphia school teacher, died Friday in the Einstein Medical Center.

She was 84 and lived at 5615 N. Uber st. She is survived by a brother, John two sisters, Mary Doran and Mrs. Kathryn Cairns, and 11 nieces and nephews including the Revs. Charles MeAleer, a teacher at St.

Thomas More High School and Joseph Doran, of Erie, Pa. Solemn Requiem Mass will be sung at 1 10 A. M. tomorrow at St. John the Evangelist Church, 13th st.

near Market. Deaths Elsewhere Thomas Edgar Dunwoody, president of the International Printing Pressmen and Assistants Union, at Knoxville, Tenn. Dunwoody lived at Pressman's Home near Rogersville, Tenn. He became acting president of the union in 1951 and president in 1952. Frank Cohen, 65, a New York industrialist, who has been visiting Israel in connection with the Esco Musical Foundation run by him and his wife, at Tel Aviv.

Mr. Cohen was president of the defunct Empire Ordnance Corp. of Philadelphia. Hassan Gobbara, 61, Treasury Minister of the United Arab Republic, at Cairo. Troy Sanders, 58, a musical assistant at Paramount Pictures for two decades, at Burbank, Calif.

James Rhodes Pierson, 86, president of the Ramapo Land at Ramapo, N. Y. Mr. Pierson was the son of Gen J. Fred Pierson, a union Civil War general, and Augusta Rhodes Pierson, of the family for which Rhode Island was named.

has been appointed advertising agency for Certified Service Club. Gerald L. Eberly has been appointed director of publicity for Harris D. McKinney, Inc Doremus Eshleman Co. was named to, handle all advertising and publicity for Breuninger Dairies Mobac Laboratories announced the appointment of Lee Ramsdell Inc Stephen Baur will become director of public Ruthrauff relations at Erwin Wasey, Ryan on May 4 C.

Howard Hunt Pen Co. has appointed the Robert S. Kampmann, agency to handle its trade and consumer advertising. Robert W. Graham, partner and creative director at Gray Rogers, has been elected to the board of directors of the American Association of Advertising Agencies Gurney P.

Sloan has been named advertising manager and assistant to the president of William H. Rorer, Inc. Other Obituaries On Page 44 Couple Married 3 Months Drowns SEATTLE, May 3 Seattle man and his bride of three months drowned in Puget Sound last night as a friend, crippled by a broken leg, stood helpless on the shore a few yards away. James M. South well, 50, drowned trying to rescue his wife, Ola, 43, who had fallen in the water as she attempted to clumb aboard their cruiser from a skiff.

The Southwells had gone to Kingston, about 15 miles northwest of Seattle, to visit Mr. and Mrs. Al Cross. Because of broken leg, Cross was unable to go to Southwell's aid. -Net Income- Per Com.Shr.

1959 1958 1959 11.552.091 10.455.559 1.51 31 16.250.000 6.130.898 1.52 31 1.546,902 d350.071 .45 31 23.483,502 3.17 31 1,912.433 1,684,893 31 179,057 64.109 ..38.