Battle Creek Enquirer from Battle Creek, Michigan • Page 4

MC2C7E3 THURSDAY, APRIL 30, 1837 BATTLE CREEK ENQUIRER F7i i ISiursday Portfolio and trucks than it has in some banner periods in the put Worldwide sales of cars, trucks and tractors to dealers were 1,635,350, up 10 percent from the same period last year, but down 14.3 percent from the quarterly record of 1,909,000 in the second quarter of 1978. 'v. The No. 2 automaker has streamlined its operations so effectively simass is is -tTO -4 "I' mmmmmmmmmmmmmmm ajiir'j. Staff Phots by Ksvss Hsrs original name of the store that was established in Muskegon 106 years ago.

Hardy's was purchased by Herpolsheimer's, which became part of the Allied Stores Corp. Allied was purchased in January by Campeau Corp. a Canadian real estate development company. It later was announced that Herpolsheimer's stores in Battle Muskegon and Jackson would be sold or closed if new buyers were not found. All 70 employees of the Muskegon Now shops proviovved T-T'" over the past seven yean that it now is able to earn healthy profits on smaller production volumes.

I That showed up in Ford's first-quarter profit margin the amount of after-tax profits as a percentage of sales revenue which soared to an extremely strong 8.3 percent, compared with 4.9 percent in the period last year and 4.6 percent in the second quarter of 1978. store are expected to remain with Hardy's. No purchase price was announced today Allied said this week that it will sell for $55 million the 12 stores in its Blocks Inc. division to Federated Department Stores Inc. Federated plans to operate the stores, including 10 in Indiana and Ohio, as part of its Lazarus department store division.

The Lazarus division targets the moderate and upper-moderate markets. Federated operates more than 630 stores. says. His reasoning: Long-term bonds, which were hit by a 14 percent to 15 percent decline over five weeks, are bottoming out The economy is displaying more pep but not, me kind that would Tht) Assodatad Praia Wayrtt Wootford, left, tBs VI Nichols, center, and Jo Davio. president of Comorica, about McCamly Plaea's seven new shops, officially previewed at a reception Wednesday.

Wool- ford is managing director of the re-merchandised shops ae- quired recently by Enterprise Development Co. The reception was part of McCamly Place's first-year anniversary investment adviser sees stock boom afte ad Qsnntt News Service DETROIT Ford Motor Co. said it earned $1.49 billion in the first quarter of 1987, more than in any previous three-month period in its It was a classic case of doing better (with less. Although sales revenue and profits zoomed to record levels, Ford actually sold considerably fewer cars MUSKEGON The Herpol-sheimer's department store in Muskegon will be sold to a group of investors and remain open. That news comes after the announcement last week by a group of -local investors that they will buy the Herpolsheimer's store in Battle Creek and operate it under the name Robinson's.

John Thompson, a WaylancL developer, will head the group of 15 investors buying the Muskegon store. It will be renamed Hardy's, the' i NEW YORK If you're wonder-, ing -how to play the crazy, roller-coaster stock market, the answer is: "Get ready to buy; the decline but not the volatility has just about run its course! j. That cheerful word comes from Stuart Shikiar, the savvy senior investment officer of Prudential-Bache Investment Management. He runs $700 million worth of assets for pension and profit-sharing funds. and high net-worth clients.

"At worst, the Dow will drop to 2,150 before heading up again," Shikiar says. "And then we're on our way to about 2,450 before A run to 2,450 may not seem like a big deal but Shikiar expects certain stocks to outperform the market. Shikiar isn't to be taken lightly. Over the past year, his investment management division was the top performer among similar operations at the nine biggest brokerage firms. It racked up a 27.2 percent gain, versus a 24.5 percent in Standard Poor's 500-stock index.

What's more, since Shikiar took charge of the Prudential-Bache divi- Savvy jnynnf Over the next few months, the--- U.S. trade deficit should show atf improvement because of the dollar. I rv A value-oriented market playej, Shikiar seeks firms he believes prot? vide low to moderate risk. today cause the Feds to tighten credit Shi-dars outlook calls for growth of 3 percent this year, 3 ft percent in 1 988. On corporate profits, he sees a gain of IS percent this year, then 10 percent to IS percent increase in 1988 Actvtty 245C 240H lH atsoH 2250-4 rally ovt a put 30 ftdtno day nil' iiii UTWTriiTWT' UTwTSUTWTF 11 2S NEW YORK The stock market gained ground today, extending Wednesday's rally.

The Dow Jones industrial average rose 10.80 to 2,265.06. in the first half hour of trading. Gainers led losers by more than 3 to 2 in the overall tally of New York Stock Exchange-listed issues. Analysts attributed the recent upswing in part to hopes that the dollar might be sUbilizing in foreign exchange, reducing upward pressure on interest rates. They also noted a warm reception for some strong first-quarter earnings reports by blue chip companies, including Ford Motor Co.

On Wednesday, the Dow Jones industrial average climbed 2130 to 2,254.26, after struggling to a 1.42-point gain on Tuesday. NYSE volume was 173.59 million shares. The Standard Poor's 500-stock composite index was up 2.06 at 284.57. The NASDAQ composite index for the over-the-counter market gained 2.26 to 414.20. On the American Stock Exchange, the market value index closed at 322.64, up 2.46.

2300-1 2150-1 110H ti yiwii BSsf- Selected Stocks AP0fttpMtl-t 'iiiK' FilSt Cf AlRSrica: The affiliation of Keystone Bancsharei Kankakee, 111., with First of America Bank Kalamazoo, has been approved by the Federal Reserve Board of Governors.First of America also reported Manistee Bank Trust with 1 14 mil lion in assets, has agreed to affiliate with the bank holding company. Affiliation is subject to approval by the bank's shareholders and regulatory authorities.Fir$t of America has more than $7.9 billion in; assets. GTE! Local telephone rates will be cut by '75 cents a month for customers due of tax; savings generated by federal tax refomuThe cut in phone rates, which. must be approved by the Michigan Public Service Commission, is expected to save GTE customers $4.2 million a year, the company said. The reduced rate would become effective on July I.

InterbSke: Interbake Foods bakers of FFV cookies and crackers, has added calcium to its Ginger Boy and Oatmeal cookies to enhance quality. An ounce serving of FFV cookies with an eight-ounce glass of milk provides more than half of the U.S. Recommended Daily Allowance of calcium, the company said. Introduction of calcium enriched cookies is in response to recent concern over a lack of calcium in the average American diet, the company said. The New Avanti Motor raised from the ashes of the Studebaker legacy in South Bend, plans to establish a second plant for its limited production, hand-built luxury cars.

The new facility would bring a four-fold expansion of manufacturing space and workforce to a company that nearly -collapsed a year ago, the automaker said. Avanti plans to open the plant in Youngstown, Ohio, The Detroit News said. Avanti plans a news conference today in Youngstown. Avanti also prepared to unveil a new line of cars. Dairy Queen: international Dairy Queen Inc.

said Wednesday it had reached a non-binding agreement in principal to buy the Orange Julius segment of Orange Julius International Inc. The transaction is subject to final negotiations, execution of a purchase agreement and approval by the shareholders of Orange Julius International. Terms of the transaction were not announced. Construction: Construction contracts, driven by a surge in highway projects, rose 10 percent in March, according to a survey released Wednesday. The survey by F.W.

Dodge division of McGraw-Hill Information Systems Co. put the value of all newly started construction in March at $251.0 billion. Residential building was down 1 'percent; non-residential building up 17 percent; and non-building construction, which includes highways contracts, up 39 percent. (., Catalyst Energy: catalyst Energy Development of New York City, an independent power producer, topped Inc. magazine's list of the nation's 100 fastest-growing small public companies.

survey was dominated by computer and software companies, followed by health care providers. INVESTMENTS Clark: Clark Equipment Co. reported a net $400,000 net loss, 2 cents per share, on consolidated sales of $240.0 million in the first quarter, compared with a $15.9 million loss, 85 cents per share, on sales of $233.9 million for the same period last year.The net loss includes a $9.2 million gain from sale of Clark's medium-duty truck transmission business to Eaton Corp: and the sale of dark Equipment Credit Corp. to The Chase Manhattan Corp. Merrill Lynch: Merriii Lynch Co.

said Wednesday that recent "unauthorized activity" by a since-fired bond trader has cost it $250 million. Merrill Lynch's stock slid 2 to $35 1-8. The company got in trouble with "stripped-down" Government National Mortgage Association securities. Mutual Funds: Mutual funds' had their second-biggest month ever in March and total assets exceeded $800 billion for the first time as hordes of Individual Retirement Account investors slipped in under the April 15 deadline. IRAs helped propel March fund sales to $23.9 billion and total assets to $810.3 TCXSCO: Texaco Inc.

said first-quarter net income fell 64 percent to $1 18 million, or 49 cento, from $328 million, or 1 .37, a year ago. The decline was linked mostly to the depressed oil industry, but also to costs of its legal dispute with Pennzoil Co. Compiled from Thtj Associated Press, Qannstt Nsws Swvic and local sources i Amioiincing Dan Dorfman sion 216 years ago, it has outperformed the market by about 5 percent, he says. That's not easy since 80 percent of the nation's money managers underperformed the market in that same period. Further, in early March Shikiar turned sour on the market, dumping about $30 million worth of stocks.

He was worried about several things, notably the falling dollar, the poor performance of the bond mar-f ket, signs of higher inflation and poor market breadth; His timing was pretty good as the Dow, after hitting a high of about 2,405 in early April, dropped around 200 points or a little over 8 percent before rebounding. "I think the define cleared the air for a good upward move, Shikiar GOLDSILVER In New York, gajd opened today at $454.00 (June). Sim was quoted i in New York today at a bid once of $7.98 (May). GRAIN MARKET As of 10 a.m. today: RedWhite Wheat $2.65, Com $1.62.

Oats $1.46 and Soybeans $4.87. NEW CROP BIDS RedWhne Wheat $2.60. Com $1.62, Oats $1.18 and Soybeans $483. CHICAGO GRAIN Mcafl Mart of Trade Oiiy Rtufs cf Men i WHEAT 5,000 be aiMsaeai; eeian ear Open Hwti Low Close Change .02 .02 .02 53 53 .02 May 4m Sep Dec Mar 2.82 2.67(4' 2.70(4 2.77 2.78 2.72 2.85 282 2 84(4 2.71 2.66' 2.70 2 73 270 2.72 2.81 277(4 2.81 2.81 2.78 2.81(4 2.72 271 2.73 May Toe 's sales 4.531. open int 31,039.

of! 568. CORN S.000be May Sep Dec Mac 1.73 1.75 1.81 1.83 1.87 1.95 157 1.99 1.73 1.78 1.81 1.75 1.81 1.83(4. 52 .02 .02 .02 5244 .01 1.79 1.81 1.85 1.92 1.85 187 1.92 1.95 May 1.97 Jul 1.97 Tue's sales 30,210. 196 1.97(4 157 1.98(4 Tue 's open int 140,127, off 3.100. OATS 5.000 be mlalniiH, dedan per bmsiel May 158 1.63 1.58 1.63 1.5044 1J8 .05 .04 51 .01 .01 Jul 1.46 1.51 Sep 1J6 1.39 Dec 1.42 1.43 1.46 1.36 141(4 yl.43 1.45 sales 731.

open 5317. off 16. SOYBEANS 5,000 bus May Jul i'Ssp No 'Jan 124 .05 .05 .05 53 .03 .03 .03 .05 .06 532 531 5i2 523 5.31 5.39 544 5.45 524 574 5.U 5.17 52514 5.33(4 5.40 538 5.31(4 Ml 5.21 S33 531 539 5.44 5.45 5.20 51 5.28(4 Mar 537 May 5.40 Jul 5.38 sales 29,552. open 8999. off 648.

tOYKANML 60,000 tc dalan par 108 May 15.48 15.56 15.47 1549 1557 1606 16.25 16.42 16.75 1652 17 2i -03 -54 .02 .05 Jul 15.85 16.03 16.18 1645 16.65 1695 1593 16.12 16.28 16.50 16.80 1695 1554 16.03 16.18 16.41 16.65 16.82 Aug Sep Oct Dec Tue 's sates 21.161. Tue 's open int 75,055, off 424. SOYICAN MEAL lOOto 4 4 al -I I -V ii wtSki i. 4T- Tht quotations are previous business day's closing figures Salae ltm lOffi Higk Low deae Chng AmGenlns AmMotors AMTeV AftiTiT ASA BitrTrw Boeing BaHyMlg CapCibts Champion Chrysler ClarkEq CGPCoastCrp CocaCola ConsuPow ComG DsnaCorp OayHud DetrartEd OomChem Dorotest EastmanKod Eaton non FdEnpr FooMoe ford Gannett GenOyn GenMotors GenSigN GenTet Gerber Goodyr GuarChm Harcrterace HoUaylnns IBM Kmart Kellogg Kroger KuMman Kysor MascoCorp. McDonald NBO -NatSemi NatStandard Northwest.

Penney PerryDnigs PhUpMors Pittston Polaroid PrimarkCorp. QuakerOats Ralston Rockwl 3866 39H 38 38'4 Vi 39M 3600 4 4. 4(4 123 40's 40Vi 40i 40 14216 24H 24(4 24U i -V, 241i 1013 65 63A 65H 66M 10115 25(4 24 24 9766 4444 44 44(4 666 19 18(4 18(4 209 344(4 340 341 3351 .3744 38(4 15430 36(4 34 36H 145 22 22(4 22(4 24ft 4444 19 340 38 2 3744 22 2502 35(4 34(4 35(4' (4 7414 42(4 41(4 41(4 -(4 5444 19 It 18H 44 1337 63(4 62(4 62H 1110 44H 44 44(4 -Vi 35(4 1844 63 44 5025 42H 41K 42(4 4244 1728 16(4 16H 16H 5370 8244 81(4 8144 3 12(4 12(4 12(4 10346 75)4 73(4 75 1462 87(4 85(4 8544 10809 85(4 84(4 84(4 1369 6244 61(4 6244 -(4 244 4 16 82 12 76 85 857 62 41 91 45 64 89 44 37 42 64 65 25561 42 88 41. 41 82 87 5)4 3026 45 44 44 946 64 63 63 -(4 12488 87 86(4 87 1(4 871 45 44' 44 5802 38 37 37(4 1543 42 42 42 7608 68 62(4 64 2 39 15' 15(4 15(4 963 33 33 33 '33 1203 18 17 17 17 31505 159 155 158(4 3 158(4 3999 60 59 59 57 57 1 60 58 33 15 33 35 79 33 15 12 60 98. 12 84 13 72 25 45 77 29 33(4 52 1527 58 1051 33 32 32 24 15 15 15 21 33 32 33 4522 36 34.

35 1(4 6857 79 77 78(4 1 961 34 33 33 13020 15 14 15 (l 1 -1 1 205 12 11 12 1032 60 59 59 1485 97 95 96(4 156 12 12 12 (912 84(4 82 83 800 13 13 13(4 2485 71 70 70 165 25 25 25 3510 44 43(4 44- 4883 79 76 77 4357 J9 28 '28 53 33. 33 33 8144 52 51 51. 64 .15 15 15 Sears Tent transAm U.S.Mome Sited 47895 34 32 33 33 33 969 33 750 6 33. 33 8367 28(4 28 28 28 -1 117 Vi 36 12 77 1970 119 117 117 3206 36(4 36 36 201 12 12 12 7966 76 75 76 WohrWorWide Xanx Quotations from Fahnestocft 8. Co.

Write your own low-cost loans at Michigan National. tl 1 Now you can be the banker Let our credit line put your home equity to work for you! is a credit line based upon 75 of your home's appraised value, less existing liens. Once the credit line is approved, you can write your own from 15,000 to This may well be the last loan, application youU ever have to sign. access is easy just write yourself a check, anytime for any reason. Rates are much lower than installment loans or credit cards; only 2 above prime as published in the Wall Street Journal, an independently established rate which may vary monthly.

For example, if the prime rate was 7.75, your EquiiMoney rate would be a low 9.75. As an added bonus, the interest may be tax deductible under die lax Reform Act of 1986. In addition, well waive the annual fee for the first year. For more iriforrnation, visit or caU any Mkiiigan National branch, or just phone 1-800-CALLMNB. May 15(70 161.20 157.50 .16150 3.40 155.50 15820 15450 158.10 2.90 Aug 15570 157.50 154.50 15730 2.40 Sep 1 155.00 156.50 15430 156.50 2.50 Oct 154.00 158.50 153.80 15620 230 Dec 15500 15700 154.00 156.60 200 Jan 15530 158.00 15530 15850 230 Mai 158.00 160.50 15750 160.50 3.50 May 16250 3.50 162.00 X50 more information on I'd like NAME ADDRESS ciTYsncrezip BEST TIME TO CALL.

UNLISTED SECURITIES i Bid Asked ArborDrugs 17.25 17.75 ComericaCorp 55.88 S6.00 ComencaCorpeond 120.00 12550 OetresChem 37.25 38.00 Fustfederal 23.00 23.13 rirstofAmarica 42.50 43 2S ForerrostCorpAm 34.00' 34.50 Greattelwfederel 22.88 2313 HemtanUier 19 .63 1951 InacwncOimeCemers 9.13 9.38 IrterfaceSysSeim 738 7.63 WemauonalRU) 5.7S 4V25 fim 47.00 48.00 Jacobsena 33J5 J3.7S MISM 1.13 133 ((neoeAVoirMgf 16.75 17.75 MascoM 31.75 32.00 MKhJatioiitCorp 395 39.50 Mr5toak 088 0.94 Ok) Kent 22.00 22.25 Prab 300 450 ShertflGeelinCe 650 6.50 SwipsonW 12.13 12.50 SouneaetornGas 21.50 22.25 StiykerCorp AOS TecurraahPnductt 125.00 126.50 ThertodCorp 1800 U.75 UrsonPiimp 130.00 140.00 UPPower 27.00 27.50 WafbroCorp 2025 20.75 WWohan 12.75 1350 ZoManan 2163 2858 National Banks, PJO. Box 600, Clawson. TM as MI 48017 is with us. BC I Kf-r4 -I LENDER i IT It sabs apn 85,936, off 183. DETROIT EGGS loseeegsicesfoiWdneidsi large 51-55; kef $0-54; madiun 3945; amal 29-31.

KXHK3AN LIVESTOCK torn Vofum $189,173.64 of tttt dtokot ttwn $63 to SSS Oubttndkng ttn wMn up to SSS Fd Heajtoin Stom $54 to $60 wine nrfrs siu aco nf urjfty cows Choc ohm $73 to $10 Aeti atm $70 to $S0 100-125 U. But atmmU up to $123 CMn to Piiint Sprmt WmI Lairsto W.90 NtTM fmiK Umtss $10 to $92 1 $12 to SIS Al toaster pJa I44.S0 fa SSS Fttotr Pip btiiiPM w4OMlM.t30to$Cl: -I DAYTIME The Mriribcis FD1C Z3k PHONE Mail to: Michigan .1 smart monq.