The Honolulu Advertiser from Honolulu, Hawaii • 25

Vi stock? as The Honolulu Advertiser Friday, July 24, 1987 A-25 Market Data Bank July 23. 1987 DOW 2,471.94 Davies gets into a new game SIP 500 307.81 Ol Markets at a Glance NYSE 173.03 HPP manufacture: nnrna nf Its AMEX 346.62 NASDAQ 427.63 Stocks advance slightly, but market stays slack By Kit Smith Mvettiiet Financial Editor Theo. H. Davies Co. said yesterday it has bought 80 percent of Honolulu Premium Products which markets non-food merchandise to supermarkets for sale in store promotions.

The acquisition puts diversified TheoDavies into a business that company President David Heenan estimates has a $2 billion to $3 billion potential in North America vs. $800 million today. Honolulu Premium Products distributes jewelry, luggage and other items to supermarket chains in about 30 states. It has as customers such chains as Safeway, Kroger and Winn-Dixie. Purchase of the stock was from HPP principals Kulani L.

Mahikoa and David K. Humphrey, who will remain with the business, TheoDavies said. Both parties confirmed earlier this month that negotiations were going on. HPP, which has 21 employees and $13 million in annual sales, has made Inc. magazine's list of the 500 fastest-growing privately owned businesses for the last three years.

Established in 1980, HPP originally manufactured specialty jewelry made from gold-plated flora, sold under the trade name Maui Gold. Jewelry products in Hawaii and has other items made for it in the Far East Its Maui Gold line, all of it made here, includes about 200 styles, Mahikoa said. Heenan said he sees potential, too, in overseas markets in which TheoDavies' parent company, Jardine, Matheson Co. Ltd. of Hong Kong, is active.

Thus, he said, "we see a lot of growth geographically as well as from product line expansion." Besides supermarkets, convenience stores are another potential market for continuity premiums, said Heenan. Jardine, Matheson is the franchisee for 7-Eleven stores in Hong Kong, Malaysia and Singapore. MaV. David Heenan A premium acquisition KORL has 3 prospective buyers L'niled Pren International NEW YORK The stock market ended mixed in moderate trading yesterday as blue-chip issues eked out slight gains despite broad-based profit-taking. The Dow Jones industrial average rose 1.76 to 2471.94.

Losing issues outpaced winners 942-622 among 1,972 issues traded on the New York Stock Exchange, where 163,670,000 shares changed hands, compared with 174,650,000 shares traded Wednesday. The broad market remained lower. Traders said slight dollar weakness and easing bond futures prices encouraged equity investors to take profits, a trend that has prevailed all week. Prices slipped in active trading of over-the-counter and American Stock Exchange issues. The American Stock Exchange market value index' fell 1.55 to 346.62.

The dollar fell to 151.25 Japanese yen, down from 152.25 Wednesday. Overnight in Tokyo, the dollar fell to 151.50 yen, down 0.85 yen from 152.35. The release of preliminary second-quarter gross national product data is set for early this morning. Analysts said a report showing an inflation-adjusted growth rate of 2 percent or more in the April-June period would be favorable for the dollar. In New York, the dollar closed at 1.8590 West German marks, down from 1.8630.

The pound rose to $1.6040 in New York, up from $1.5975 Wednesday. Republic National Bank in New York closed cash gold at $455.25 an ounce, up from $454.75 Wednesday. New York's Commodity Exchange settled the spot contract at $455.10, up from $454.90. canceled it after they determined that no qualified bidders had registered as required. Heller also said yesterday that she and her partners now "fully intend" to keep KORL on the air while sale negotiations are proceeding.

Should a sale occur, however, Heller said, there are no guarantees the radio station's present format emphasizing Hawaii-originated music would be retained. KORL Inc. filed for bankruptcy in May after an attempt at selling the station to key employees failed for lack of financing. In bankruptcy court papers, KORL valued its assets at $1.25 million and listed liabilities of $1.36 million. Heller declined to identify prospective buyers for the station.

Nor would she reveal the dollar value of any offers that may be under negotiation. She said, however, that she hopes a deal can be struck within three to four weeks. By Nina Berglund Advertiter Bxuineti Writer The owners of KORL-AM are holding "serious discussions" with three prospective buyers for the financially troubled radio station after failing earlier this week to sell it at auction. Mary Heller, one of the principals of Texas-based Pacific Communications which owns the station through a subsidiary called KORL yesterday said "one completely new" local party emerged with a purchase proposal after the auction was canceled Wednesday morning. Heller said two other parties, one of which was attracted by the auction and another which previously had approached the seller, also have come forward with proposals.

"We're very optimistic now," said Heller, who on Wednesday expressed "tremendous disappointment" at the auction's failure to sell the station. Officials running the auction Dow Jones Industrials High 2,488.68 Low 2,448.50 2540 Hawaiian Electric reports bigger quarterly earnings -2520 j-f Holding company blames expansion for earnings drop NYSE Average I us I 160 ill IF 173.03 "5 l13S June July I 11,11 1 2400 4380 2470.18 Up 2.23 July 23 f-2360 340 5320 1 'I'M ITT 1 1 I I II I I I I II II I I 5 2 9 16 23 June July Oahu, Maui and the Big Island accounted for 88 percent of the earnings. Most of the rest came from HEI Investment Corp. and HEI's maritime Hawaiian Tug Barge and Young Brothers. For the six months, earnings totaled $23.5 million and per-share earnings equaled $1.38, up from $1.32 a year earlier.

HEI directors meeting yesterday approved a regular cash dividend of 45 cents a share payable Sept. 10 to shareholders of record Aug. 10. Hawaiian Electric Industries Inc. yesterday reported increased earnings for the second quarter and the six months ended June 30.

Quarterly earnings of $12.1 million were up 9.6 percent from the year-earlier $11.0 million. Per-share earnings showed a smaller increase, 7.6 percent, due to an increase in shares outstanding. Quarterly revenues rose 12.9 percent, to $151.7 million. Earnings from HEI's electric utility businesses on Most Active NYSE Changes Stocks wflfi Ins laroett net chawes In compost trading of iwum ttiao on the New Toll 510 Echange Vtf Amt 234,900 36. ForstA 228.100 4H FurVH 219.900 8 Vncm 206.800 21 NewYoti Mm Close 3 386.500 2Vi 2,116.500 19 1.897.300 30Vi Cose Chng 321 J56 4 Stock Mitfds TeWvn 1,794700 56 1,799 600 1601 2 Dnema ..57 3 -70 -3 Stock Sourhn Anmnsn GnEleC Digtl IBM GnMtrs Tex co ostvwi UCart Plrwd Giena Trends Gap TDK 2 1,668.900 160 .1 1.663,100 65 114 1,596,400 46 V4 1,536,400 22 1 .491.000 27Vi 55 -2 ..128 -2 Geico 103j -2 -2H -2 ford RcrOirn Nwmont New Tat Th Wea" Nwrwjlu 56 58 New Iowa 18 15 Advances 622 682 1,445.200 32 1 1,413,600 40 -H 1,369 600 1 2 r3 12 Ford 53 SFeSPo 1,336,300 USAir 1.317,000 45' 1 Decline 943 873 630 431 q-m bankruptcy 407 430 Total 1,972 1,985 1,967 PRI earnings are down; cost of crude oil cited Chg 1 Sales Close 588.500 22 NYSE Index AUStocks 173.03 Industrial.

84 4)56 158 53 040 Utility 72 9 Finance 151.04 -0 26 Equivaent to a tow of 00 10 cents In the average price of an N.Y.S.E. common share. .24 Newhfcjtit. New Advances m. 8 Stock Hsrjro Wicket Blckr TAir WangB DoJ Declines 507.400 4 unch 477,200 61 455,400 32' 263.600 16 241.000 271 .266 .357 .257 .670 Uncnanged- have been escalating, prices of the company's refined products "have been lagging, resulting in a serious margin squeeze." Reed cautioned that profit Dow Jones By Nina Berglund Advertiter Bunineit Writer The parent of First Nationwide Bank, which has 19 offices in Hawaii yesterday reported its first earnings decline in about three years and attributed it mainly to the costs of its aggressive expansion program.

First Nationwide Financial a wholly owned subsidiary of Ford Motor said second-quarter net earnings amounted to $13.8 million, compared with $30.5 million in the same period last year. The second-quarter earnings pushed earnings for the first six months of the year to $39.8 million, compared with $52.4 million recorded in the first half of 1986. Anthony M. Frank, chairman of First Nationwide, said the earnings decline was caused by "some reduction in interest rate spreads," which is the difference between what thrifts charge on loans and pay on deposits, and "additional budgeted expenses from expansion into new states." First Nationwide has been on a major expansion drive for the last few years, and some of the costs of that expansion into states such as Hawaii were felt during the second quarter, according to company president Robert E. Lackovic.

For example, the company opened 43 convenience branches In mart stores on the Mainland, opened a main branch in Pennsylvania and acquired Capital Savings and Loan Association of Phoenix, Ariz. Lackovic said First Nationwide also has installed a new computer system, invested in product development and Stock Optfi High Low Ctootv Ownot SOIndus 2492.67 J447.07 2471 94 tl 1045.05 ICoi.72 1035 76 1047.55 7 24 15UtM 201 64 202.44 19661 200.46 464 65 Stock 923.23 920.29 91222 921.56 1.68 Standard Poor's 400 30 40 40 600 India Trent Uttta Fncts tTockt Thu 306.02 257.23 10877 2927 307.81 Wed 36094 255.72 108 97 29 30 308 47 WKago 366 44 255 90 110.31 29 35 312.70 Moego 358 31 253 76 11567 30.24 30896 Yrago 262 72 179 56 114 32 28.41 237.95 368 33 257 52 124 04 31 51 314 59 67 Low 226.93 197.27 102.71 26.54 242.17 margins will remain under pressure as long as that lag Blaming rising crude oil costs, Pacific Resources Inc. yesterday reported an 88 percent fall in second quarter earnings. Earnings of $2 million, or 7 cents a share, were down from year-earlier record earnings of $16.2 million, or 89 cents a share. Quarterly revenues totaled $220 million, unchanged from a year earlier.

Robert G. Reed III, chairman and president, said that while crude oil costs Foreign Exchange continues, crude oil cosis, ne noted, are more than double a those of a year ago. For the six months through i Cf Hj i 1 1 f- 1 1 30. PRI earned $4.7 Sugar Futures NEW YORK (UPiHWorW Sugar No. 11 Future millinn nr 17 cents a share.

down from $18.9 million, or t3n)M points lower inutHuv. Open Nigh Sen 5 70 6 BS Lew Cloae 5 68 6 69 $1.02 a share, a year earlier. Anthony M. Frank The spread didn 't help remodeled several branches. "This has all been part of our 598 624 650 615 705 719 740 Oct 6 20 6 225 .92 6 95 Jan 6 34 6 34 6 34 6 23 Mar 6 81 6 82 6 53 6 57 May 7.00 7.00 6 70 6.77 Jly 7 15 7 17 6 85 694 Oct 7.25 725 707 706 Domestic Suaar No.

14 Futures closed 3 cants higher to i pants wer. Lew Close U.M Esurvelanl Thur Wad .7100 .7100 .0221 .0222 1.6040 1.5960 .7513 .7564 .2688 .2725 .4550 .4541 .1617 .1618 .007123 .007120 ,4780 4778 .1281 .1281 .0764 .0783 .000608 .000608 .000744 .000743 .006627 .006679 3 5162 3 5149 .000717 .000712 .6087 .6095 .1473 .1472 .0489 .006901 .006878 .2687 .4723 AIM .48,10 .4824 .0008.37 .000837 4107797 J07649 .6495 .6481 .0372 srm .2723 .2723 .0383 .0347 .5382 373 Currency par 06 Thur Wad 1.4085 1.4085 45.30 45.10 0 6234 0 6266 13310 1 3220 3 7200 3 6700 21977 2.2020 61800 01880 14040 14060 2 0920 2 0940 7.8060 7.8075 1309 13.10 1650.00 1660.00 1344 50 134500 15090 15200 0 2840 0 265 1395O0 1405 00 1642 16407 7910 7930 2045 2044 144 90 14640 3.7500 3.7510 21172 21180 20704 20721 0811 (0610 128 25 12740 1.5400 1.5430 3108 SlOt 36727 3 6730- 29 14 28 60 1.8560 18610 2200 22.00 Australia OV Brazil cruzad-K Britain pound Canada dollar Chin yuan Egypt pound Franc franc Greece Orach Hound guildr MongKoogdlr India rupee Indo'aa rupil Italy lira Japan yen Kuwait Omar Meicop-t N.Zeaienddtr Norway km P'pnea peeo- Portugitacd Saudi rtyal Smoaporadlr Africa rend Korea won Spempateta fiwrtzn franc Taiwan doaar UAEdirham Vans boUvr-i W.QarMark 21 64 High 2210 21 84 21 80 21.72 21 80 21 82 21 80 2169 21 10 2196 2162 21 77 2168 2178 2160 2188 Open 22 00 2162 21 80 21 79 2180 21 89 21 89 21.75 Sep Nov Jan Mar May a Sap Nov HAWAII'S LEADING COMPUTER DISCOUNTER 2i 60 2169 21 81 2161 2185 21.60 21 89 21 89 21.69 2169 AAiimirrnii iiinmiixnr cntTUJADC lUitlru i cno nwnuuMnt our i iiHitt game plan," Lackovic said. We've had a lot of overhead expense, and our plan called for reduced earnings." Meanwhile, real estate loan volume during the second quarter at First Nationwide rose from $979 million last year to $1 billion this year. Assets increased to $15.1 billion as of June 30, compared to $13.52 billion at the end of last year's second quarter. Precious Metals rev.

One Dey Gold 453 95 454 0 Silver 7 75 572-575 are-te Piatmum AST PREMIUM288 AT 2339 -Baala 12 MHZ PC'S LIMITED MACHINE" INFOWORLD Dividends Earnings 1MB RAM (EXPANDS 10 ENHANCED KEYBOARD DOS 3 18 BASIC DnIDTNOt 44 MS HARD fXSK 2SMCCtS 1IMCI FLOW 80788 SMTtL UCOPnOCtSiOH SHM2. 8MHZ. IOMMZI 1 tcmAL. 1 PMALLf oa)T 301 COA MULTIMOOt VtMOCAW) Expansion slots a EMS ElHESDtD MEMORY fa Company hart Goto TrmovaCorp Vermont Am Corp Jtorl 2 tori 5 tor 4 eurrvnt AUTHORIZED AST PREMIUM266 REPAIR CENTER Sal antft 73167 INVESTOR (S) WANTED TO BUY AND LEASE BACK BUILDING LINES OF CREDIT. THE ONLY NEW CAR DEALER OF ITS KIND IN THE STATE OF HAWAII.

NEW CAR SALES, LEASING, USED VEHICLES. GALL 531-2707 EtlVER PAINTER (See. .09 (-20 8-6 JO 9-2 6-6 j77 9-30 .11 1M6 9-21 Cemparnr Downey Sal ASSOC Oita Air lines Martin Marietta Ran Indus expires 73187 THIS WEEK'S SPECIAL 1 8.864.000 (.30) e-OetoL Coia4a4nvt) (In 0 105.000(71) Delta Mr Unas (0-O) 656.797.000(121) -2 .225.000 (55) D4r(Wa)CMQ) 1 21.384.000 (M Haabrlnc2na0) (1425.000(24) Lane ttar Indue (2ik1 O) $8.487,000 (.40) IMtWitM bit (3nt O) 640.000.000(28) 1117.000,000 (.78) UMea Carttd Cava On 01 686 000 000(52) a-tncajrJea tiooma trove OHwonanuaol WKvauona at 1 1 mkan and a 9am 1333 maton on fopoeata. Uta Corp 2n O) 87.15.000(1.1S) Utaet Parted eiaft AeNarOI'MaMO t2 ,380.000 (2 42) MHMlCaIndarl D-t6 968 000(65) 4nctud income from cornued optraaon $1.283 000. U-tnctudet tKom from dnKOnmuan oparnon 01 (2.284,000.

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