Garden City Telegram from Garden City, Kansas • Page 7

t's Business Worst Shock of Tumbling Profits May Be All Over By SAM DAWSON AP Business News Analyst NEW YORK (AP) American yusiness as a whole may have elt the worst of the shock of umtoling profits. Charts of profit in recent years and ri the response to, or forecasting if, corporate earnings by the tock market point that way. But by the same token hope of any-smart rebound in the current quarter or even in the final three inonths of the year is confined largely to individual companies or to some industries starting to pull but pf their private recessions. fhe factors that sickened profits "are still with us. The pills thai-might alleviate the ailment have still to prove their effective- iiess.

But many now bet that any further sinking spells will be fairly oiild. The profit squeeze spelled out In the earnings reports for the April-May-June quarter Was foreseen in the stock market, which did-most of its price tumbling in the preceding three months. Stock price averages managed to climb during the quarter that business (was feeling the pinch. Despite tremors when some especially sad earnings reports came out, the market Is now fairly close to where it was when the second quarter ended, So, if the market is as good a guesser as it's supposed to be, it seems to be saying the fall in profits may be levelling off, but the climb back is still on the dim horizon. The profit slide since the early months of the year look: worst when it's stacked up against past performances when special conditions were beefing up earnings.

The dollar total that corporations have made so far this year don't look bad at All against the totals of all but one quarter in the preceding four years. Let's look at the dollar performance of all American as reported by the Department of Commerce for each quarter of 1956-59 inclusive and the best available estimates for the first two quarters of this year. And then see how they fit into the charted course of The Associated Press price index 6'f 60 In the quarter of 1986 American corporations etrned .8 billion dollars after taxes. Profits kept.within a range of 6 billion to 5.6 billion dollars unii! the tfhird quarter of 1957. when they stood 8 DAYS LEFT To Get Tremendous Savings on Many Overstocked and Discontinued Items.

SAVE DECORATING DOLLARS WATERPROOFING Block $375 5 for 3ef 3 WALL MURAL $80.00 Value NOW 16.00 SPATTER PAINT 3 Gallon Left Was Now Gal. REDWOOD FINISH Clear $6.80 Gallon SALE SPATTER PAINT Was $2.92 SALE I.OOot. WE GOOFED A few quarts of mis-mixed Jatex paint i.29 VINYL ASBESTOS TILE 230 Tile 9x9 IfU, IVW Grey Spatter Ea. CHRISTMAS TREE Electric $4.95 $1 Cfl Value SALE ROGERS Paint Products, Inc. 112 Grant BR 6-3951 FOR THE BEST EN SERVICE AND THE BEST IN OIL PRODUCTS VISIT SWARTLEY SHAMROCK SERVICE We offer a complete service (OPEN 24 HOURS) 132 W.

Kansas BR 6-9959 i MARMADUKE at 5.5 billion dollars. Then they slid under the impact of the recession to a low of four billion dollars in the first quarter of 1958. During that time the AP stock index went from 190, with some zigzagging, to a low of 155 at the end of 1957. Then stock prices started up, three months ahead of corporate earnings. The AP index stood at' 228 the end of the second quarter of 1959 when corporate profits hit their peak of 8.6 billion dollars.

The special reason for these big profits was that industry was producing and buying heavily in anticipation of the oncoming crippling steel strike. work stoppage affected corporate earning much more than it did stock prices. Profits dropped to 5.8 billion dollars in three months, while the AP index slid seven points to 221, recovering quickly to reach 231 at the efid of 1959, while earnings were still faltering. Stock prices tumbled hard in the first three months of 1960 to 214 at the end of March, while profits were climbing to an estimated 6.2 billion dollars. Then once again corporate profits and stock averages took different trials.

June 30 the AP index was 'back to 222, while profits had slipped 3 per cent during the three months. What do these figures indicate? First, the latest profit totals are about the same as they were in the final months of 1959, and during 1956 and the first half of 1959. They are well above the recession low in early 1958, and only look really bad when compared with the unusual high in the second quarter of 1959. Second, today's totals disappoint both business and the stock market because sales have gone up since 1956 and profits are at above the same level. And 10 years ago manufacturers were averaging 8 cents of profit from each sales dollar and now around 6 cents.

There's the real problem management has to tackle. Neibarger Said Election Winner TOPBKA Neibarger, Tonganoxie weekly newspaper publisher, won the Republican nomination for state printer by 732 votes, complete unofficial figures in the secretary of state's office indicated Friday. The figures moist be checked next week by the state canvassing board before tihey become official. In the race for the Democratic nomination for state insurance comimissioner, Howard L. Marshall of.

Abilene edged Smith, Ottawa, by 1,261 votes. The complete unofficial totals gave Weilbarger 75,334 votes to 47,304 votes to 48,088 for Smith sell. George Smith of Wichita fin- islhed third 53,868, followed by James E. Rufifin, Wichita, 216. In the Democratic insurance commissioner race Marshall had 47304 votes to 46,088 for Smith and 39,911 for George Pierce of Wichita.

Complete unofficial figures for Ohe Republican race for the 6th District congressional nomination showed Robert Dole, Russell, winning by 982 votes over. Keith Sebelius, Norton. Dole had 16,033 votes to 15,051 for Sefbelius and 4,423 for state Sen. Phil Doyle of Beloit. Figures were released today by the secretary of state's office only in the three races i wliicih the results were extremely close.

Other final results were to be made available Tenn. (AP) A plan of public school intergration, vigorously opposed by Negro attorneys, will go into effect here When classes begin Aug. 31. School Board Chairman John Boirkhart said the first-grade classes would be integrated, as ordered Friday by District Court Judge Robert L. Taylor, despite any plans Negroes might have to appeal the ruling.

Integration Goes Into Effect The Negroes had no comment on their appeal plans. Attorneys for 17 Negro children seeking admission to the all-white public schools had objected to the plan on the grounds it was too slow. Their clients, they said, would graduate before their grades were integrated. Under the plan, a additional grade will be integrated each year until all 12 grades are desegregated. 'Atomic Cemeteries' All Carefully Guarded WASHINGTON (AP)-Archeologists, operators of bull-dozers.

and even ttinnel-digging kids need have no fears ol accidentally unearthing dangerous radioactive wastes buried underground in "atomic cemeteries." All four present burial- grounds for such nuclear garbage are in carefully fenced-in and guarded properties of the Atomic Energy Commission. They are located at Oak Ridge, Hanford, Arco, Idaho; and Savannah River, S.C. And future sites, including possibly 10 or more regional sites in various parts of the country, will be on federally owned or itate-owned property. Regulations call for close inspection and control to assure against any unauthorized digging in these hot-spot areas. A further precaution is designed to protest employes at such sites against inadvertently digging into dangerous areas.

The most dangerous kinds of buried waste are not only dumped into deep holes, but they're also covered by eight inches of concrete. The AEC says its aim is to have strict federal or state control over such areas for "hundreds of years." The kinds of radioactive waste being buried, or to be iburicd in the future, on land are known as "solid" distinguished. cty Tut Monday, Affut 22 from wastes in liquid of gaseous forms. The solid by low or medium levels of radio- of such things as contaminated machine turnings and other equipment. Also, contaminated trash, such as a piece of linoleum that might be contaminated by a "spill" of radioactive hot-stuff in a laboratory.

The most dangerous of all types of radioactive wastes arc certain liqiro-form wastes which result chiefly from the chemical processing of reactor products. These wastes are extremely radioactive and therefore are handled by a so-called "containment" method rather than by 'actual disposal. These wastes are stored in huge under ground tanks having capacities up to a million gallons or more. And all such tanks are on closely guarded AEC properties. Emporia Post Office, Federal Building 'Ready EMPORIA (AP) Postal em ployes will move into the new post office and federal building Aug.

27. Other federal agencies in various Emporia locations will move into their assigned space Aug. 29. The cornerstone, including a copper box holding historical data, was put in place today. The formal dedication is set for Oct.

1. Liberal Approrol For Tax Ury InerMM TOPBKA fallowing tax levy increases have been approved by state Board of Appeals for boards of education having difficulty raising sufficient, money to operate under existing limits: :1 Liberal Board of 3.107 mills, for increased teacher- salaries, hiring additional era, and purchasing supplies. Pratt, 6.25 mills, to pay er salaries. lola, 6.25 mills, make building repairs, pay faculty salaries ifl'i and high school; 1.25 mills, pay increased salaries itt Junior college. West- Kansas Not Plot? JOHNSON Four topographic maps by the State Geological Survey at the University of indicate' that the surface of Stanton County is a gently rising upland.

It's a surprising bit of news to those that thought that this area was as fiat as any place could be. AUTHORS WANTED! BY N.Y. PUBLISHER Leading book publisher leeks uscripts of all types: fiction, nonfiction, poetry, and religious works, etc. New authors wel- corned. Send for free booklet S-24.

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