The Montgomery Advertiser from Montgomery, Alabama • 6

mm MONTGOMERY. ALABAMA TUESDAY, FEBRUARY 4, 1986 PAGE 6A il Cartel Fears Price Collapse Dow Jonos Industrial Average 30 leading industrial stocks Record High U10 100 150 mo 1170 mo 1S40 1110 1020 1S10 mra Tut) Wtjd TTmi Men Kuwait Oil Minister AU Khalifa al-Sabah, also said there are fears prices could fall to $10 a barrel by spring. As recently as 1981, some oil prices were hovering around $40 a barrel The three-day committee meeting came against a background of a worsening glut and widespread pessimism that once-mighty OPEC, which dictated the market a decade ago, could reverse a decline that has caused a prices to drop more than 25 percent this year and nearly half since November. "I don't know where the bottom is," said William Randol, an oil industry analyst at First Boston Corp, a New York investment firm. "Somebody has to cut production, and nobody has the mindset to do that right now." The speed and magnitude of the drop has been hailed as a major boost to the U.S.

economy because it will lower energy prices and prices of a wide range of petroleum-based raw materials and goods used throughout Positive Economy Fuels Market Surge Building Activity Up Sharply WASHINGTON (AP) Construction spending soared 2.8 percent in December, the sharpest increase in II months, the government said Monday. Building activity climbed nearly 10 percent for the entire year. The Commerce Department said new construction totaled $354.6 billion at an annual rate in December, an increase of $9.8 billion over the November rate. It was the sharpest rise since a 10 percent advance in January 1985 and followed a decline of 0.4 percent in November and no change in October. For all of 1985, construction spending totaled $343 billion, a 9.6 percent increase over the previous year.

Spending had risen 16.5 percent in 1984. Meanwhile, figures released by the F.W.Dodge division of McGraw-Hill Information Systems Co. underscored last year's strength in the construction business. Record-setting activity in the late summer and autumn carried last year's total of newly started projects to a new high of $227.65 billion from $211.48 billion in 1984, F.W.Dodge said. Last year's 7.6 percent increase from 1984 marked the industry's third straight year of expansion, said F.W.Dodge, which is widely known for its reports on building activity.

Economists said the 1985 figures reflected a strong performance, especially considering that last year was the third year of economic recovery and a time when construction activity normally begins to taper off. Most of the strength came from big gains in the non-residential category, which totaled $88.4 billion, a 19 percent improvement over 1984, with a variety of segments posting double-digit increases. Top $1.2 Billion in Quarter Price Tumble Near Record VIENNA, Austria (AP) Oil prices tumbled below $18 a barrel Monday for the first time this decade, and OPECs president predicted a "major price collapse" unless producers restrain output Arturo Hernandez Grisanti, the oil minister of Venezuela and president of the 13-nation Organization of Petroleum Exporting Countries, urged producers to avoid a price war. He spoke after a special OPEC committee conferred for nearly three hours in Vienna on the cartel's prospects of stopping a further decline in its market share. Details of the committee's discussions were not disclosed, but a Kuwaiti news report said a sudden split emerged over how to respond to competition from non-OPEC producers, mainly Britain, Norway and Mexico.

The report, denied later by GM Earnings DETROIT (AP) General Motors Corp. on Monday reported strong financial results for the final three months of last year, helping the automaker rival Exxon Corp. as the nation's biggest corporation for the first time since 1978. After-tax earnings in the fourth quarter came to more than $1.2 billion, or $3.85 per share, compared with $877 million, or $2.76 a share a year earlier. Sales in the final three months of last year totaled $24.6 billion, up from $20.9 billion a year earlier when the company suffered a strike in Canada.

Operating income for the fourth quarter also was more than $1.2 billion, GM said, compared with $421.6 million the year before. Worldwide sales were up by 14 MEX Monday's Volume 9,200,000 Shares Most Active Stocks OomtPtri WangLabB ConqutftEx FoorhlilGp Rymar wt AmMtdBId IVIck GullCan KayPharm HalmlRoM SHM0 Ml, M0 212.NO 2S7.NO 103, NO 201,900 13, 700 lit. 100 1 lltt 4V, ttk 4 Hi 14 II no NEW YORK (AP) The stock market kept surging ahead Monday, establishing new highs in buying attributed to falling oil prices, lower interest rates and signs of a robust economy. The Dow Jones average of 30 industrials, up 18.81 points on Friday, climbed another 2328 to 1.594.27. That marked the average's biggest single-day gain since it rose 23.97 points last Dec 13.

Volume on the New York Stock Exchange came to 145.28 million shares, against 143.51 million Friday. Prices of crude oil fell to seven-year lows in New York trading, lending further support to hopes that good news on inflation would continue. That helped push down interest rates in the bond market. Analysts said the stock market also drew support from a series of favorable reports on the state of the economy. The Commerce Department reported Monday morning that new factory orders increased 2.7 percent in December, for their biggest gain in more than a year.

Over the weekend, a trade group of purchasing executives issued a industry. But some analysts say the plunge has jeopardized the ability of Third World producers such as Mexico, Venezuela and Nigeria to pay off their multibillion-dollar debts. It also threatens Western banks that have major loans outstanding in the energy industry. "I believe OPEC and non-OPEC producers should make every possible effort to avoid a price war detrimental to all," Grisanti said in a prepared statement following the first session of the Vienna meeting. "The alternative is a major price collapse and continuously unstable and volatile markets with sharp fluctuations in prices and volume in the short and long term," he said.

Mexico joined Venezuela last week in knocking prices down between $3 and $4 for a 42-gallon barrel of oil, putting new pressure on the market West Texas Intermediate, the benchmark U.S. crude, dropped below $19 a barrel Friday and fell another $1.47 to $17.36 a barrel Monday. was put at $4 billion, or $12.28 per common share, compared with $4.5 billion, or $14.27 per share, a year earlier, which included a $1.34 tax credit A company statement attributed the showing to heavy spending on new plants and equipment, costs incurred in the $5.1 billion acquisition of Hughes Aircraft Co. and cut-rate financing programs on can and trucks. GM also had a bigger federal tax bill nearly $1.5 billion in 1985 than the year before.

And, while remaining the top automaker with 41.7 percent of all car sales in the United States, it continued to watch Ford Motor Chrysler Corp. and imports chip away at its dominance. Operating income for the year finished down 10 percent cVjwj I Ckt Ct II lilt 170 5 ttt I 0 4 4 JO 71 II 4 07 It- Shopwi I4TMI 47 24 tl rSp I arcn tc Hvrctl 1 4 252 17' 1 00 74 I 14 a io t4 vi 11 4 tt 40 71 Vt IS 17- It 40 34 74 7 Vk 13 10 171 a 41 11 tl 51 II tl 11- Vk SmtlA SmtnB Smth pf Soiitron .00 Mi 33 14 40 7'- 4tt 2'44 It 1-32- 1-32 roPr Ed Pf 1 40 147 10 102 10 too I. It 3CEd pt seed pt SCEd pf 20 .10 7 124 4 II 40 10 E0 Of 4 12 1350 57 tk 541 24- tk SCEdpf 1 45 11 15- to Pf I 30 4 ITVtt u. 1 47 at It 15 tk II 15 7t 7t-1Vt 17 43 5 31 ta u- tt IS 7- VI 14 3 11 5- Vt I 73--1 I 14 a it 4 tk 7 II a 7 4 Vt 34 ltt- VI tl 1141 450 11- Vk 10 4 It 4 tt 400 1- tk 05 13 1 254 VI in 1.25 51 17 SCEd pt SCEd pf SCEd pf SCEd pf 130 12! 7 St ltt 51 2 la 17- tt til .33 72 swbcp Spctrm I Spanccr 41 tVt- Vt 105 17 Vt ISO 3 17 pnom mavn a .00 ItSOr 10 10 25 4 4- I 0- stosnr Sanwd SiarrtM Stapan StrlCap StarlEI SlrlErt StrlStt SurmIE SonCty SonSL .71 4 74 1520 la.

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Moil telly dollar vaiut: lntrorpr 37t4Vt Mott Ktlv velum: Jgur AON 0H NASDAQ tlt: 107,51 W0 NASDAQ comptHlt: 137 4l.t NMS compoilH: 143 Ja0.74 Dow Jones Averages STOCKS Opoa Miffi law CM CtnJ Mln 20 Tm IS UN MSI Indut Trap UtIU 5 SIK a ioo ii i5i un nn.M 7.t 05 7505 74171 75 2 7 13 170 170 175 51 171 144- 1.13 SM.M 441.07 2t II 440.404. IN 14.311, 100 SI too 4,377,000 it.au, 400 Bonds MBond 10 Puttie Utll It Inovtrrlari Commod futum 4 744-0 4 (1714 41 15 710 55 117.11-1.73 RETURNING TO MONTGOMERY! report noting "persistent strength" of the economy in January. Since last Sept 20, when stocks began their latest bull-market outburst, the Dow Jones industrial average has risen almost 300 points. tt Vk I percent to $96.4 billion from $83.9 billion in 1984, which appeared to put GM atop the Fortune Magazine list of the nation's 500 largest corporations for the first time since 1978. The new rankings will be issued in the spring.

Fortune spokesman Gary Belis said. He added that he could not guarantee GM move to the top because the magazine may use different criteria and producing its rankings. The automaker's sales surpassed those of Exxon which reported 1985 sales of $93.2 billion. Exxon has held the top spot on the Fortune list since it unseated GM in 1979. GM's profit margin was down significantly in 1985 compared with 1984, to 4.1 percent from 5.4 percent.

GM's net profit for all of last year it. GntVl Outfit Glnmr 201 1- 17 3KI4 7 2IW4 20 1 4 Vt 314 tt4 vt 2 21 3 254 Vt 111 4- Vt MoogA WMrd WtgRt wt tvtgGtb WigPI Wortm Mottl viMad WoviaL Murpln Wuw wt GlobNIt GIOFId GocRPt .74 55 louiai GranMc GrndAu Grant Grant wt GrTc GrtLkC Graanm Gralnar GrdCh GltCd Gull .40 17 0 Vt4 Mt 11 121-I4 Vt .40 1301 14-! 144 M'4 Vt It 47 134 Vt .500 42 12 52 137 14 Vt .05 2 14 a- .10 lot .04 11 S' 17tt 1 NRM Pf Nantck NtOlO NIPalnl NMlAr NPlnRt NProc NWidP HAL Hainan Halml Halml wt Hamptl Hantrd Hrvy Haibrs Haior pt Hailing Hll MlthCr I MltnCh 'HlthEl NVTImt NwbE Nrrwcor NwLt NwpEI NtcninR 1J .1 ..50 11 24 254 It 17 1 300 454 174 Vt II 414 17 341 Nicnoii Nollnd Mom NCdOot NIPSpt NuMrl NuHr wt NuclDt Nurnac 45 t't- 45 134 Vt 75 12 74 Vt 31 144 I 01 144 tt 10 2- It! 24 tt lit tt- Mi 13 3- 11 34 J01 CV 47Vt4 tl 10' 13t- Vt 4 114 Vt 4 i 7 lltt- 70'14 I- Vk 17 4 174 4Vt- 1- Vt 4- Vt 112 17'- tl 13 It- Vt 25 10'4- It II 4- It- 2 HaimM Hamwr Hamick HaiOor Haiiont HalmR HrnO Hlndrl .25 .10 Oakwdl OdetA OdaiB Olitn Oppanh OriolH A Orrrvand lOSulvn OitrdF OiarkM PUA iptrpn It 15- tt Hofmn HollyC HmtQ Hmlna pf Horml HrnHr HrnH wt IS 2M 3t If tl lltt 244 15 1511 33'- IM 22- tt II Sllla-Mt MotlPty MotIP Wt MouOT HovnE Howiln HubalB HudGn Muiky 9 11 A I PGEptA PGEplB PGEptO PGEptE PGEptF PGEptl PGEptY PGErHVK PGEpIV PGEpIT 114 J7 .25 7t .40 351 3 127 2141 3 144 71 274 It 21- 1030 1-1 I'- II ICE En I SVt- Vt CH I I4t 4t4 tt ICO 30 14 It 3-l POtpts PGEpf PGEpIP PGEptO PGEplM PGEptK PGEptl PGTrn PCLI pt PacLtpt PacLt pt PallCpi Pantatt RTCRI 12Vt4 Vt 354 Vt ImpGp .12 140 .10 to Impind a tt 114 ll-l 11 4 34- Vk imoon a 17 Intignt Initrn InitSy IntCty Intmk 14 10 41 5-14 Mt 112 23- Vt It 1 40 II Vt 10 It- 222 tt ta- 204 174 Vt nlBknt IniBk wt ntHyd tl I' I 104 Vt 3 3 173 3 tl if IntProl -intThr a inThr pt ParkCR PatTcn PaolPt PayFoR PaerT PanEM PanTr PE CP PanobS Pnrll Pantrotl Pvrlnii. ft- Vt l't- Vt 144 Vk I onict 12 20- tt to a- J-J -50b 12 lltt ai ir Vt Mt a t4 4 24 14 IrpqBrd Jclyn I4H- Vt l'4 Vt Jacob -31 Am JaiA wt Jatron JotmPd 17 14 WAKA Moves Production Site WAKA-TV began producing its news programs Monday in its studios on East Boulevard in Montgomery, according to a spokeswoman for the CBS affiliate. Ruth Zimmer, spokeswoman for WAKA Channel 8, said equipment and personnel were moved during the weekend from the station's Selma studios where the programs were previously produced. The noon news program and and the evening news were produced in the Montgomery studio and broadcast from WAKA's transmitting lower in Lowndes County, she said.

WAKA also presented a new news anchor team with Frank Morock serving as the news anchor, news director and general manager for the station. Carole Meekins will serve as a co-anchor. Rick Sarro will be sports director and Jeff Jensen, a melerologist, will broadcast the weather reports. WAKA will continue reporting news about west Alabama from its Selma studios, Morock said. Morock said the move of news operations to Montgomery has been planned since August when the Bahakel Communications group bought WAKA.

The move is being done to instigate "a ratings war" between news programs at WAKA and WSFA, a station which for years has dominated the evening news ratings in Montgomery. ltti A A Clarmt ClartC 1.14 30 .05 17 I 71 It 100 15S 4 133 54 It 7 12 44 2171 20t 71 100 043 12 1 41 10 47 213 231 14 5 ADI al Labs AMC I AM Inrl AOI ATT Fd AcnwPr lAcmtU Action Acton .10 20 17 17 11 Clarott ooav IStI It Coonlh Cotu Coif wt Comf CompO CmoCn 22 52 K'l 57 )X Vt if tit- va 117 12 271 2'- 1 57 CmpFcf Actn wl AdmPt AdRukl Aaronc AfllPbl -ia- nj 1) la 140a 2a 71 44 21 1W 12 7v-f M7 va Cncfim ConcdF Connly ConrCp Conqsf Con wl ConiOG) ConOGwl irExo AlrCtl ArCll pt i. 274 II lamco lamllo as t4l23aHt 7 IS at SI 4a i i4 ITS 110450 Itv, Cnsior COMA I CM A Pi AIMW Alan AiphalR Alio Alcoa of AllaCp AmBrTt ConlMH Convtl 11 Coploy CotCr fl mto 47 Vt 42 15- Vt 2) 17 IM4 Vt 14 4 Vt 7 at- Vt Cover wt CnlrM Coorim CrilF Crost CrowIM CrnCP .3 .07 .15 1.44 Amdani Amadc AmBilt AmCap AContrl AFruc A AFruc .20 .00 170 Vk CrCPB CrownC CrirlcP. CrytO Cubic 11400 7Vt lit 4'4 St 11 Vt XI St 170 II 1 AHIttvM AUraa AMiaA AMBId AmOll APatt AmPtnv AFtk CurtK OWO tl Tt Dame DamEB 4 1 It 24b 24 15t- Vt IS 3S 2 32 4 4t 20 VI4 44 24 lit Jll 1 Thermatex Inc. Breaks Ground Gov.

George C. Wallace said Monday groundbreaking at the new Thermalex Inc. plant in the Gunter Industrial Park represents a continuation of the friendship between Alabama and Japan. Thermalex is the new name for the cooperative operation with Thermal Components Inc. of Montgomery and Japan's Mitsubishi Aluminum Co.

"The friendship between Japan and Alabama has grown," Wallace said. "It's one of the finest things the free world can think of." According to the Alabama Development Office, the new building at the plant will cost $6.8 million and create 35 jobs initially. GM Considers Buying British Vehicle Maker LONDON (AP) General Motors Corp. is negotiating to buy British Leyland's commercial vehicles division, which makes the Land Rover jeep and its luxury model, the Range Rover, the government announced Monday. Trade and Industry Secretary Paul Channon told the House of Commons that negotiations over part of Britain's only state-owned motor vehicle company "are at an advanced stage, but a number of important issues remain to be settled." He said GM was discussing buying Leyland Trucks, Land Rover which includes the Range Rover line, Freight Rover and "certain related overseas operations." He did not elaborate or give any figures, but opposition Labor Party lawmaker John Smith claimed the price tag under discussion was $443 million.

Channon also disclosed that separate talks were being held with the Laird group, a British transportation concern, over the future of Leyland's bus division. Also, "wide-ranging" discussions with other unnamed companies were taking place over British Leyland's car division, Austin Rover, he said. Channon was replying to demands from angry Labor Party lawmakers for comment on earlier press reports that the deal was under negotiation. Labor's Smith called the news "a British retreat," and asked: "Is there nothing not for sale?" Dale Campbell-Savours of Labor charged: "The government is dropping the Union Jack and raising the Stars and Stripes once again over British industry." State-owned British Leyland, still fighting to recover from a history of financial losses and poor labor relations, is to be sold to the private sector under the Conservative government's wide-ranging scheme to "privatize" assets nationalized by previous socialist administrations. Channon reaffirmed that this was his government's plan for British Ley-land "as soon as practicable." He said he hoped the deal would secure the jobs of British Leyland's work force.

"If a deal with General Motors were to be reached and that is by no means certain I shall have to be satisfied on all these points and we shall have to have a proper understanding about them, he said. The sale, if realized, would give American auto firms a stake in all three major British vehicle manufacturers. British Leyland's Austin Rover cars are the country's biggest seller. of Intelligence .30 174 74 240 114 tk 10 34 -It-It -4 50 1700 a 32 14 70 44 lt4 tt .30 4tt 17 It 15' ISO 104 Vt 4M 21 .151 13 34 .15 I 34 101 12 4 2S 3 75 15-14 Mt TubMai TurnB in TurnrC 17) 4b 27 at TrnEfl Tylrwt UNA US mt) Ultmt Untcsrp Urncp pf 17 tvt Vk 1U u-u 0 13-10 0 tk 10 17- vt S7 11 II- Vk .75 13 137 PHIL a t3 vt 3 13 47 tt .24 2 7 2. a tl 3 Vt .50 1 334 17 4 IS 1 4 a it- It 11 IB II 1 107 10 JO 57 14- tt 01 4- Vt 71 45 7 Vt tl 7 a 7-11 l-M 1.00 51 II 11 3 I a It 11- tt 1 It 214 tk 114 a 33 4 37 27 334 tt 3 5 It 1 ii DRISCOLL and his mighty horn SUNDAY, FEBRUARY 9th 10:30 a.m.

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1 U1- 0 74 41 1 14 1 It 1 44 7 25'- 541 12' Jj I II- it test 114 70 II 31 I 4 1J0 11 H- Vk 111 7 15 17- 14 JO 40 12 It 40 1 4 tt 41 s- J0 4t II- 114 II 27 4 4 tt 1 00 15 JO 1131 14 4 CWin Caro.fi Carll Carat, Cart CaraE CartE A Carp Catena Can CatFO Camml Car. Cats Crfrt Crrm! Cnmp O'WA OWE C'ao 15 51 1 104 17t FrpMiy FrtwEI FrrKM FarVItt GTI G'C GttO Grn Ga'LIt GHmS 1 14 IS .31 .07 04 Tt 15 7 It 1 70 Tvy- ta It 17 17 is ,1 34- Sfm Ill 4 31 7- bOmm GnWkrr Gan'tca GcRs Gac wt Gwjnt I mm 1 20 II .71 20 lot 17 0 It- tt it 11 44 OH4t of Human Learning Friday night 7-10 Saturday morning 10-1 Saturday afternoon 2-5 Disfunction in Child Adolescents I 5 1 II to II 7 II It II a as 1 J-at Our off campus This is time program offering Friday evening and Silurd cUss studerw in Clinical Psychology. On a time basis the program may be completed in 4 calendar yrm-1 calendar years of course work and 1 calendar year of internship. The Spnr Trimester (11 wes) brgirts Fndjy, March 7. 1986 Cli are taught on the campus of hkjntingdon College.

A Eacheior's degree any field from an accrrdrti coSet is requwed order to apply. For further formation, please write or vrsa! either of our locations Our Huntsvtfle campus located at 2611 leeman Ferry load. HuntsvSe. At 35801 orcal XSVr'tor fr orrrimrfv h2tratt Py Drrve Montgomery At 6109orcal Xft-772-WlQ..