Press and Sun-Bulletin from Binghamton, New York • Page 41

THE SUNDAY TRES.l 13-C JliiMtnc OutlooU IN'av. 3, 1337 mt UUmi Urgnlar hut Qnateil XaUir Vmrn 32T Wall Slrccl Bumps Shake Up Detroit Portable Washer Weighs Only 9 Lbs. Py A. LIVINGSTON Sptetel JVfU Writer WAIT1R USStWITZ NtW 1K Tord fwk Go en Thftie itrftmH acron front rewpper throughout Amtriri rt this erk. heraMing out ef the moil buiinfti of the 2sh Century.

Too years Utrr, the jirtiri rlft have those nr en morse AnocUted rrtti Writer Stw York A nortalle wa.hlnir machine, wtlch- tTnOIT you think cf th tusSness litua- Th qutien wii ru t0 ir economist cf one ins cr.Iy 0 pounds, which can be let down in any eon- venient link, tub or larje pall, among new rrocucia this wfk, SCRAP-HEAP ECONOMICS Amrini art junking tKir on a ra! of 4 million Arartment dwellers ho don't Weekly have the spare for a large wah-i a year, which rnakei Detroit hopeful for 1953. rr, traveling men, families on 199 puttie vsti Kt 111 tae stork Gerort nrtti 'rem 4i 1 snare. The price ef4M deeldHI rn ef ts'ks betveen the Ford Foundsuon and seven Inneitment bovaet, htch served eo cf the under rtUag group numtrdig 10H Invettmept houses and t.300 securities dealers. By and large, the prlre was about ht mott people expected, althouin a few profetnna nveort rJSjnted t5l or IS3 would have bern more in keeping itn the maikd at the time. An Investment offlref of National SerurttlfS Beifsrcii which manages a group of mutual funds, commented; We er ready to tf 187.73, A friClALIST IV Al'TO MOCKS at a big brtkerige house says, "You could have justified any price from 149 to 100, depending upon the yarditirk.

On a yield bails. It should have been loer. Going by 1853 earnings. It could have been higher. But alo recognued the public wanted the stock at any price and Ford was improving Its potftlon in the auto Industry." Ford then sold 8 times Its earning, Genera Motors 19 times and Chryikr 6H times.

In the Initial bunt of over-the-counter trading, the stork I I I'd vacation or even college sta dents.may like this lnch Wgh original S55.O00 public of the lnt Ford Motor Co, Generally peeling, they've don Jut about tht P.000.003 other Amfrtcini ho on common stork In cthfr corporations. They bin pocketed regular dividend! of 12 49 per hre year, steady yield of 3,72 per rent on their original out lay of 184.20 a share. Livestock Review machine lih a four-way aih in anion. It Is built to get a four-pound load 'of wash clean 100 In to 10 minutes, It a made RUSi-iJ'w NYrAI laUk'e by Ami Grand Rapids. Mklu loil and Mirri rrlvli to1d mi load, lurr Uit Out piad Choir Wfl iron to cm fni'i-r.

under 1 I I I grade tnaUy aiajy. fair. Thoir (Mi in. iTt aw; 8YLYAMA Electric Products la rfcflnrif A tlnV BhOlO- anM Kaifara 12-liStl: kabv Kva A. livif0i bulb it says provides jr sped up to around 70.

la folio log weeks, II allpped back turn iiSiiUng" as in. and a air- Kndine a tmi.ii.i- fvuaiA In. nrnelow GO, then recoverrd'f fw-dollars before gi They've alto seea the quoted value ef tbrlr abares drop around 1:00,000,000 part of the decline omlng Ut fr hra the auto L.du.irj fell comldrrably below Its hot 1355 pace and mmit ef the remainder In the recent ever 11 market slump. toward OOfket-SliO and hlfi 1IIJ; ivedcr cf the raafor auto cornpafMc Wt Vfmr" u.aeilny prompt "answer, "tell me first what happened this morning." avorain tt0 lb. IS Minnmpni.

inia uuiu Uairv Ivik amnur rallies from ultra-brilliant Hcht burst Ki.hM, in rnrtiv Bull nd hTt atad. CfTnne food. atippllct fall nt lorat shredded tirconlum foiL HENRY FORD, 2d nd O'll-ei-town naadi. iiuiw raws USO-3J: top 13 So: cutur ll-U. rnn a.S with aoma ahcHf the New York Stock Escbange March 7, 1358.

Walt Street observers said the stock sagged shortly after It eame out because: ONE It was the victim of unfortunate timing; auto makers were cutting back and the stock market was ragged. TWO Many traders, looking for a fast profit, sold the stock quickly and contributed to the drop. THREE Some Investors sold because they weren't ahle to get as many shares as they wanted at the opening price. Not Miracle Men In short the stock has not kind balow; fat yaUow rows 10-11; IN ST. PAUL, Mlnn Sterling l.iBi.riM"-'" proven to be the bonanza which many folks 'had hoped it M.m.l.- halfara 1S-M: Products Co.

has come up wiinutlllt, Mui bun acarc at i-a portable, fold-away bar, easy is eUtir is-itso; rtnnrf is-is. to carry and store, ana nanay 7' Thst'i Detroit at this tlmt of the yesr. When the stock msrket goes up, Detroiten are optl-mlitle; when it declines, Dctrolters are down In the mouth. When a rumor comes from Washington that the Federsl Reserve Board Is thinking, perhaps, of loosening credit, Detroiters became cheerful. Then, when they eread the speech of -Alfred president of the Federal Reserve Bank of New York, In which he aaid It would be a mistake to relax credit, they go into the drums.

1 Detroit has become a credIt-conclous town. No use fancying up cars, adding gadgets, or would Its performance recalls the words of caution voiced by Henry Ford. 2d, presiding. Just before the offering of the 10,200.000 shares. think," said Ford, "some people are Indulging in wishful thinking about their chances for fast and fabulous financial gains.

We are businessmen and not miracle men." for grown-up or teenage par-jfully h-lf ties. Called the Sterling Fola-A- individual In ahort auppi. Chowa Bar, It's 40 inches high. 48 Inches long and 20 Inches wide. Its dnum lJ-a0: is covered with a damaue-re- sul4blt hon total l.o&J.

l.fant BlasUc. The front and'prir 1-valM lata In tha. wek. side is finished in a vinyl cloth bJ 'ii available In five colors. wnen cnt, lower.

Daily ciranc not In use It can be folded flat mmpim. No. 1-3 butchra jso-saj tinging horsepower If people can't get credit livinostom and stowed away easily. Tight money Is as much a crown of thorni to Detroiters today as in. ifl'in 9U, io.iui m-so-irso: S90-37J lb.

ls-ieso; food and ctiolca -00 lb. aowa 13-15: fivd boar under 6f0 lb. S-1J. fUlabla aheep lajnh 444, total I.3M. Demand food, market fully teady to alrona.

Clearanca torn- the risid aold standard was to William Jennings Bryan in 1838 AN ANTIQUE brass carpet The Federal Reserve Board, therefore, becomes an enemy of economy, the consumer, and, perhaps, a progenitor, of un-J AFTER GOING on the "Big Board." the stock traded be tween $51.62 and $63.37 during the balance of 1936. In the first eight months of this year, it sold between $33.23 and $59.62. Recently it touched a low of $42.23 In the midst of the bear market At Its latest price of around $45, Ford stock Is down 32 per cent from the offering. General Motors over the same period Is off 12 per cent from $43.50 to $38.25, and Chrysler It per cent from $80.50 to $69.25. Last week the Ford stock enjoyed a mild rise following a glowing earnings report from the July -August -September quarter.

Profits for the three months were $58,500,000, up 328 per cent from $13,300,000 last year but still under the in the same quarter of booming 1955. A factor in Ford's future success will be the public's response to the Ed.e!, its new medium price model developed at a cost of more than $250,000,000. nor. half the size of regu- plfte. Cholea cwa and wether lam hi lar models.

Is offered by on .01 Mtra. Irvltulina bi mrA lAiitfhtor aw. Sl rull ON SUNDAY. NOV. 1355, the Ford Foundation an nounced it would sell, some of Its holdings in the company, giving the public a chance to own Ford stock for the first time in 52 years.

Within hours, brokerage houses from Massachusetts to Oregon were deluged with calls from would-be buyers. The problem from the start was one of rationing the ahares to allow as wide participation as possible. On Dec. the public's appetite was whetted even more when Ford took the wraps off its financial operations for the first time, in a registration with the Securities Ex change Commission. In the ensuing weeks before the Jan.

18, 1956, offering, the Question firing the -imagination of the press and the Bissell Carpet a weeper iSi7; 1 Grand Harids. Mien, ine Drass, ana canner employment Because Wall Street Spazzed mmhinprt uith black steel han Iron, Steel Mill dies, harmonizes with fireplace accessories. Called the Blssell-vnm tt'm noHallv designed for AND SO DETROIT ISN'T Its boisterous, optimistic norinal cleaning small areas, sewing and Pay Rolls Up with tvenr word and resture a sales brochure. guest rooms. Forecasts for 1958 are being held back.

The industry, caught K. York fyPU-Averaee hourly -over-optimistic in 1357, doesn't want to be wrong again. I'l The stock market. Itself, Is worrisome. Not only does it raise "fears of bad tunes ahead, but it has a direct Impact on automo- pay roll costs for wage earners in the Iron and steejjndustry reached a record high during September, the American Iron and Steel In a ktW 'solar cisaret llchter" WEEK IN BUSINESS AND FINANCE Is a good gag for entertaining bile sales.

When stocks ro down, people feel poorer. Husband-h outdoors and is useful on a noai stitute said yesterday. The average was $3.02 an hour. or beach wnere in too wway for flame. It can be used Indoors hrniiPh sunnv window, too.

In August it was $2.99. Wage "Jand wife pow-wow: "Ought we make our 1958 do for another fyear? Jewelers, and furniture dealers go through similar merchandising tortures whenever Wall Street spazzes. earners worked an average of 36.4 wM1r riurinff Seotember. Th narrptt Thew Studios. West Sales, Profits, Spending Off port.

makes this gimmick, compared to 33.5 hours a week in primarily a concave, circular re It's now accepted here, as in Washington and Wall Street, that the country Is having another readjustment It seems to hap- fi-rtnr which focuses the suns August. Durmg September, ine Industry's estimated pay roll was $330,076,000 compared with ar- fin a mptal rlaso where the end of the cigaret Is poised for By WALTER BREEDE, JR. 'Associated Preu Writer 730,000 In August -pen every four years, like presidential elections. Immediately after the war. was the readjustment America got over that quickly.

Stocks ligntmg. New York Business entered Then, Jn 1949, business slid off. Unemployment rose to more the crucial month of November (Continued from Fata 12C) Textron Bays Firm New York F) Acquisition nt Apnrv Products Corn, of than 4.000.000 briefly in early 1950. with sales and profits slowing IN BRIDGEPORT, v. In 1953, right after President Eisenhower took over, business These were enough to put the down, money tight, and compe tition keener than ever.

larnmt Tprhninues Inc. Is mak Whittier, has been disclosed had another dip. This was blamed on the Federal Reserve Boara Treasury policy. ing a series of Aerosol products, kibosh on what might have been a pretty gobd rise last week. But the technical factor profit- Indications were things would stay that way until well into by Royal Little, chairman or Textron, Inc.

The California firm makes aircraft and guided iiijj IZeplaccment Marljct Seen Millions of Old Cars Going to Scrap Heap By DAVID J. WILKIE Associated Press Writer Detroiit -An estimated worn-out previously consiaerea impractical, but now a reality through Now, in 1957, prosperity is moving sideways. Once again, taking following the Improve' the use of nitrogen as a propei- money is blamed. ment gave prices an extra kick missiles components. Purchase price was not indicated.

lant. Unlike other propellants. to the downside, Freight carloadings took a massive dive down 13.8 per cent from a year ago and 15 per The financial reports cf the nitrogen doesn dissolve ana chance the physical property of world biggest steelmakers, cent below 19oo. Seventeen of the 33 presidents of the United States visited U. S.

Steel and Bethlehem, Americans Great Scrappers Oil men watched anxiously as the products. Among the first items are push-button toothpaste, cleansing cream and hair showed record nine-months earn-i IF CKEDIT WERE EASIER, Detroit would feel easier. Yet, a Newport, R. while holding office. ings; but they also showed a 'statistical case can be made for a 1958 as good as, if not better dressing.

petroleum inventories mounted. Steel producers resigned themselves to an operating rate in the high 70s. compared to a boom- automobiles are going to the scrap heap this year. Many significant fail-off in earnings for the third quarter compared than. 1957 with estimated sales of 6,000,000 cars.

of them will be replaced with new cars, and others 3 with the second. The shares of First. Americans are great car scrappers. About 4,000,000 time rate of 100 per cent of ca with used units. I pacity last year.

these companies and other steels were off last week. -The tivo most active The industry calls this the re 'passenger cars a year are junked sefe' chart). That replacement demand props the market Second, an increasing number of car owners are getting out ffom under installment debt R. J. Eggert, an economist at Ford, placement market Obviously, all Even the consumer spending the economy's most dynamic force, was frayed around Real Estate the American Stock Exchange the junked cars are not replaced 1 with new cars.

TRANSFERS G. Clifford Bartholomew and an figures that at the beginning of 1957 only about 190,000 tteotors were completing installments on old cars. Today, 260,000 per month are tearing up their final notes, and by mid-'58 more than Nevertheless a considerable number of them are discarded by persons intent upon buying new DON'T MISS' A SINGLE SAVE MONEY WITH rzrrrnAn FltkblilHIl the edges. IKE'S EXPLANATION President Eisenhower said business is taking a breather. He said trends are mixed-up last wees were: Campbell Chibougamau, up 1 1116 at 5 1318 on 143,000 shares; Sapphire Petroleum, off 116 at 916; Scurry-Rainbow 116 at White Eagle International Oil, off 318 at 1516; and Siboney-Caribbean, up at IVi.

The five most active Issues on other, lot 1 Block Collier Location, Binghamton, to Susan W. Terpak. 1 300,000 families per month will enjoy that out-of-debt feeling. vehicles. WOULD SET RECORD Th-nrlnr- T.

Beafell and wife. in some lines and off in others-- and government experts are adjacent Chenango ftiver, Town of Chenango, to Martino Pecoraro and wife. If the final tally of junked cars reaches the estimated total, it watching all sectors of the econ Raymond E. Carlton and wife, omy closely so they 11 be ready Small Investor Still Bullish TO EE SURE, PEOPLE WON'T turn around and go into debt Tlnrmediately. -But they're prospects for new cars after six months TP! F-AncrFRSnS would bethe highest number ever taken off the highways in a single year.

But there still are in use some vehicles built before World War to move in when they possibly can. He said there has been some disappointment in fall buy the New York Stock Exchange last Week were: Vertientes-Camaguey Sugar, off 3i at W. on 162,100 shares; Bethlehem -Steel, off 1 at 39; lot 2 Block 804 Plot 8 "Enaicott Land Subdivision" Town of Union, to Lione H. Hill. William Cornelius and wife, lot 1 south side of Woodland Avenue, to Joseph E.

Barron and Wife. Endicott Johnson lot 43 sales impetus in the or so. -Automobile analysts see this SERVICE now Under New ing volume. -The President said his fed' 2. So industry researchers pre dict a continuing high level of vlsers look on the stock market Standard Oil (N.

off IV ati 52VS; General Motors, off Ss at 38; and Boeing, up 2Vs at 33V4.I as an index of confidence rather second half of 1958. They think that's when many people who borrowed to buy In the boom year of 1955 will be ready to borrow again. i Interestingly, investors seem undismayed by the stock market 'break or the shift in industrial sentiment You'd expect that after nor cent dron in stock prices, small inve'stors especially, than a barometer of business Ownership TELEPHONE ANSWERING SECRETARIES WAKE-UP SERVICE "It's the Better Service" 94 HENRY STREET BINGHAMTON, N. Y. conditions.

Some time ago, he said, they felt the market was Lorraine Kilts too hich. Subdivision 2 "Baxter-Chaffee and Sliter Farms" Town of to Milton C. Allen and wife. Fred Ensworth and wife, lots 49, 50 Burr Avenue, Town of Binghamton, to Dominick J. Ryan and wife.

Myron B. Keyes and wife, lot 60 No. Por. Subdivision 3 "Endicott Highlands," Town of Union, to Leo Camp. Fred Kurst, Jr.

and others, plot, Rano Boulevard Town of Vestal, to Town of Vestal. I car junking. Contrary to popular opinion, car junking does not increase as new car sales mount. In 1955, the industry's biggest sales year with 7,200,000 new car deliveries, 3,700,000 absolescent units went to the scrap pile. In the following year, when new car deliveries dropped to around- 5,900,000 the Marorf Carey DOOR GARAGE Operators This week stock prices churned inconclusively and DIAL 3-3535 closed on a downward trend.

Reports of record nine-month of mutual funds would become uneasy. Apparently not. The National Association of Investment Companies spot-checked 28 mutual funds for me. In the flye days from Oct. 21 Oct 25 or during and just after the worst of the stock "break investors bought $18,000,000 of mutual fund shares, and turned In only $4,500,000 for redemption.

SALES and SERVICE Opp. Miracle Market M2JJ 14 Charlotte St, Cor. Florence earnings by the steel and oil industry's giants (nearly junked units numbered 3,900,000, Joseph Massar, parcels. Town cf 000 for U. S.

Steel, more than $660,000,000 for Standard Oil of New Jersey), caused only a pass- Nor do these same trusts and they represented more than ing stir. Colesville, to nowara jmcuoiiuiu and wife. Milton Miller, north side of Cornell Hollow Road, Town of Maine, to Fred O. Higsby and wife. Sanford P.

Parish, north side of Aldrich Avenue, to Sanford P. Parish and wife. Eliza Dora Powell, west aide of according to best tabulations. LAST LONGER NOW About the only thing the figures prove is that scrappage of old cars is increasing each year. Figures compiled by the Automobile Manufacturers Association indicate the average life of conventional passenger cars had OUTLOOK BRIGHTER 30 per cent of the industry expect redemptions to rise.

They I added to their Common stock holdings by purchasing $10,000,000 of stock' in the same five days and sold only $6,000,000. Mary Street, to Michael L. Fyala and wife. On balance, then, they optimistically supported the market. Investors seemed more concerned about the future.

The outlook not too good for steel and oil did brighten at a couple of key spots. Demand for copper finally perked up a little. Frederick L. Sherman and wife. course, there's one Important difference between Wall Street and Detroit Wall Street is marking down prices.

Industrial lot 250, west side of Ivy Place, Town of Union, to Sheldon Franklin and wife. There were assurances from men in high places that the gov. ernment would loosen its tight; doubled since 1925. At tnat time, conventional passenger cars had an indicated life of 6-4 years. In 1955, the figure was 12.3 years.

The tabulation also indicated the lleftime mileage of the average car grew from 25,750 miles in 1925 to 110,000 miles in 1955. The association's records show; that approximately 54,250,000 pas stocks today yield better than 4.4 per cent, according to Standard Poor's Corp. A year ago they yielded less than 4 per cent contrast car prices are edging up. General Motors has announced a boost of from $35 to $225 in its 1958 models. Stude- baker-Packard also marked up the list quotations.

i rein on defense spending. There was new evidence of U. S. prowess in the guided Bernard J. Turner, lot SO, west side of Barnes Avenue, Endicott, to Philip N.

Heery and wife. Anthony F. Vallone and wife, south side of Vestal Avenue, corner of Genesee Avenue, to James J. Moriarity, Gladvs AtweH and other. par-1 eels, Town of Windsor, to Ernest H.

Atwell and wife. Frank T. Atwell, and another. Town of Windsor, to Ernest H. Atwell and wife.

1 Harold A. Atwell and others. missile and satellite field. Ten- r- The automobile salesman just like the mutual fund salesman i.i.n In 4V. a rricis it 1 VI.

C.t argues me yuiciiasei gets iuuic iui uia uiuiic). uuv mc juuLucuggggi gjgnfjy. Optimism was the keynote In senger cars were under registration throughout the United States in 1956. i luna salesman, alter a siock crop, can put it aown on paper Detroit this week. Automakers 'unwrapping their dazzling new If units owned by governmental The automobile salesman hasn't that kind of a case.

And so Town of Windsor, to Ernest H. At- azencies aje added, the a IJIIIV HtUVtnVl total Can n-esiaent tisennowers aavice 10 Housewives to purcnase rnnfiriPnt1v nredicted an upsurge ci-TjAnVkifr. wife, lot it 'comes to slightly more When prices go up did not evoke huzzahs here in Detroit ja sales despite price hikes rang east side of Evelyn Street. Town 56,000,000. of Union, to Walter W.

Jordan and wife. CARS PROBLEM ing up to $22a a car. On the consumer front there were signs that the annual fall a rv -ri and Christmas buying obviously Helps tne usea car mar- Tool, Die Men Get New Chief Metropolitan Sales on Rise flcriXllU XI vnvium. Atnalie B. Mctartny, ki in wmixn it a--- th m.m,r,-.

might not come up to earlier expectations. Particularly disappointing was New York Department Chicago GP) The National big de- Tool Die Manufacturers 'store sales in the New York-ib the nation's elected Philip; northeastern New Jersey metro-yn rtores. side of Paden Street, inaicott. lo Bnhert m. MrCanhv? jturers and new car retailers.

In Esteiie F. Fiikinton. lots 130. 131. times of high volume demand for "flrtSESV'tpSS'sew cars, used units lose a lot otuim.ti City.

-sieiie r. rumf-; ton and Mary Jeanne Norton. their tradeuT Value because the Ann L. ir.i. r.d us-d car dealer has to avoid an Sweet.

Lule relase value. Otil-ettTs remarkable' new desk calculators, the Tetractyt and the Dicisumma 24, represent a major advance in the tpeed, ease and accuracy cf processing business figurevxrk They can cut costs substantially May, we. demonsiraU, this on your figures'! Call vs. STAFITOIi OFFICE nAQ.HI7.ES CO. Sonibera Tier's Largest Office Machine Dealer IIS Cbenange St Dial 4-6611 Arrow from Carl to a Hotel Cpn Satardiy til Noem Association R.

Marsilius president Marsil- politan area increased 1 per cent New Avco President ius is executive vice-preident 01 in the week ended Oct 25 as the Producto Machine CoJ, compared with the same week a Bridgeport, Conn. year ago, according to the Fed- The association represents, eral Reserve Bank of New York. Tnrk Jiir-nrfr- TL Cora B. Sweet, lot IB "uxn nee tv. nseA car ftaj become BO Wilson.

Jr, formerly vice-presi-Uli 'T? joaTdt- (miportaat part of the tadnsttTi more tnaa i.v'j'j fpecui too 1,1 in me lour weess enaea uct die and 1 machine plants la the 29. sales were down 2 per cent, elected president He succeeds ir transaction is involved la major-States and Canada. from a year ago. Raymond A. Eich who urcest auacda and nouw.

of new car sa.es. United.