The Pensacola News from Pensacola, Florida • 13

Business Brief Economic and business news from around the nation and the world is in Business Brief, compiled from Gannett News Serticr and Associated Press wires. See Page 2C cTWarketplace Tensacola cNew SECTION Thursday. June 2. 1983 New 'Wave' Hits Big-City Sound From the Boondocks Brendan Boyd it'orJ Xoteltoak rtfi tim it I VJVV: YJ, By LARRY WHEELER News Surf Writer Out in the sawgrass fields past Milton where a stoplight means progress, a group of Indiana radio moguls is trying to start a trendy big-city scene. It sounds kind of funny but the new staff of an old radio station is very serious.

In early May. station WSWL changed from a no-name talk format at 1330 on the AM dial to a high profile music center. It's part of an ownership change that will bring the station new call letters and a vastly different image. New disc-jockeys and bright billboards proclaim the station as the "Wave of Pensacola." Its music is aimed primarily at Pensacola's black audience that for years has had only one station. WBOP.

tuned to its needs. The "Wave" is trying for a more sophisticated appeal though, said new station manager Chuck LaPaglia. The format is called "urban contemporary." The station has more music, fewer commercials and less disc jockey rap than other local AM stations, said LaPaglia. The station is playing hits by Stevie Wonder, Michael Jackson, Earth, Wind and Eire and other soul-oriented groups that have cross-over mainstream appeal. WSWL is currently owned by Bright Horizons Production Robert A.

Switzer, president, and Joan L. Switzer. vice-president. An Indiana Company that owns two other radio stations is in the process of buying the station and has financed the format change so f.ir. LaPaglia couldn't say how much money the company plans to invest.

"We wanted to come in as a sophisticated, upbeat, positive appeal station," LaPaglia said. So far the station has piqued some interests They have 21 large pink and blue billboards around the area. They plan several promotions this summer. They've also hired Nona Young, also known as "Hot Chocolate," a former WBOP disc jockey whose name is well known here. The station's musical programing is slick and pre-determined.

Shipments of the latest and most popular records arrive weekly from TM Productions, one of the largest broadcast syndicates in the country. The station, with facilities located outside Milton on Highway 89, is basing a large part of its promotional campaign on the "Wave" im.iRe. LaPaglia said they've applied for call letters that when pronounced will sound like the word wave. He wouldn't say what the letters are because he fears someone will file for them. LaPaglia expects the station's signal to reach listeners from Milton to the Alabama state line but an average car radio hat trouble picking up the station in Myrtle Grove.

He said the station's technical staff has experienced signal problems and hopes to have tlii tn corrected soon. The station's license allows broadcasting from 6 a m. to sundown. LaPaglia said the station hopes to have a license for night broadcasting soon. a ss5 'if XKf Nona Young, known as 'Hot Chocolate to her fans, is one of the disc jockeys on the new station that puts out a sophisticated sound from a rural setting.

(Photo by Jerry Kovach) Factory Orders Point to Stronger Economy Because Merrill Lynch is the world's largest stock broker, it regularly generates the most market research. And because it historically caters to small accounts, Merrill's influence is most pronounced whenever little guys climb aboard rallies. Like now. Reflecting this dual influence, Merrill's recommendations often determine, as much as foresee, a stock's action. The core of Merrill's thinking is its biweekly.

$44 annual Market Letter. To get an idea what "America's Broker" is thinking now, here are some highlights from recent issues. Merrill still believes a general market correction is likely, "if only because so many investors seem unconcerned about it." Then, however, Merrill sees the upsurge returning "in response to a recovering economy bolstered by lower inflation and interest rates." It sees inflation at 3.5 percent this year, S.4 percent in 1984. "Particularly significant is that both inflation's high and low points this cycle will be below the previous cycles, reversing a 32-year trend." Lower inflation will trigger lower real interest rates, says Merrill. And in the past, real interest rate declines have preceded very strong stock markets.

Leaders for the bull market's next phase: health care, retailers, restaurants, food beverages, banking, insurance, real estate trusts, building materials, aerospace, airlines, conglomerates, appliances, apparel. Merrill expects after-tax corporate profits to rise 17 percent this year. The Market Letter lists 75 stocks whose earnings should climb at least 25 percent, making them above-average market performers. Six have PEs under eight: Crown Cork, GM, Lear Petroleum, Ozark Air Lines, Pope and Talbot. SCM.

Real estate investment trusts recently surged from 76th to 25th among 110 stock groups Merrill follows. "Lower interest rates have widened spreads between the tursts' cost of funds and portfolio yields, improving earnings and dividend prospects and financial positions. Many trusts have the potential for sizable capital gains from property sales: Americana Hotels, Bank-America Realty, Mortgage Growth Investors, PNB, Washington REIT." An important theme throughout the rally, Merrill observes, has been interest in growth companies that have been cutting costs substantially. Among those that have been making more and spending less are five whose outlays are decreasing just as their projected five-year earnings growth exceeds 35 percent: Apple Computer, Clark Equipment, Corning Glass, Eaton, National Gypsum. Currency valuations have sneakier effects on stock prices.

Merrill sees the U.S. dollar declining further before July 1, quietly but significantly boosting earnings of companies that do business overseas. Among those they favor are six that derive over 45 percent of revenues from foreign sources: Abbott Labs, Colgate-Palmolive, Crown Cork, Hoover, IBM, Sperry. Among the lesser-known growth stocks Merrill's now recommending: Electro-Biology, a pioneer in electromagnetic therapy for repairing improperly healed bone fractures without surgery. 1982's earnings doubled 1981's.

Browne the nation's largest financial printer, which should benefit from the tremendous upsurge in security market volume. Kelly Services, which is expanding its burgeoning temporary-help services into the nursing and home health fields. Adage, a leading supplier of CADCAM display terminals that has achieved 44 percent annual compound revenue growth since 1977. Investor's Notebook reflects the opinions of professionals. It does not endorse specific investments, and no endorsement is implied or should be inferred.

For further information, contact the individual firms cited. The Dow Jones average of .10 industrial stocks, whi lost almost 30 points in the previous three trading sessions, rose 2.23 points to 1.202.21. Interest rates Ml and bond prices rose slightly. The dollar, buoyed again by expect.it ions among investors of higher U.S. interest rates, rose on interna tional currency exchanges to record peaks the third straight session in relation to the French franc and the Italian lira.

In other economic news Wednesday: General Motors Corp. and Ford Motor Co announced they are offering new. 8.8 percent financing programs to buyers of certain small cars and trucks. The programs replaced 9 9 percent financing offers that ex pired this week. A Conference Board report said capital appropriations by the nation's manufacturers, except in the H-tro leum category, slumped 8 percent in the first quarter ol the year, compared with the final three months of The Agriculture Department said Illinois regained its traditional ranking as the nation's leading agricultural exporter last year with its share of shipments estimated at more than $3 3 billion.

Iowa, which had edged Illinois the previous year, was second with farm export: valued at $3.03 billion. day that orders for manufactured goods rose 2.1 percent in April the fifth increase in the past six months. The department also said inventories held by factories rose 0.1 percent, a sign that manufacturers are expe-cting oiders to continue rising in the months ahead. inventory increase was the first since February "If business firms are now easing their inventory reductions and are going to resume building of stocks, that means that they are going to continue to step up production and employment," said Robert Ortner, chief economist for the Commerce Department David Cross, an economist at the private economic research firm of Chase Econometrics, said the increase in new orders, following a 3.1 percent rise in March, "reinforces the recovery psychology among businesses" and "implies there will be some increase in production." "We will have a recovery certainly well into next year." Commerce Secretary Malcolm Baldnge predicted in an appearance at the National Press Club. The Commerce Department also reported that construction spending rose 0.4 percent in April for the first monthly gain since January.

The reports apjieared to have little effect on financial markets, which had been rocked Tuesday by a new wave of worry that interest rates may begin rising By The Asssclited Press The major retail chains today reported big increases in May sales, and the chairman of Sears. Roebuck and Co. said consumers were reacting to an improved economy. Separately, the Labor Department reported that first-time filings for unemployment benefits edged slightly higher in the third week of May. Even so, the number of filings has declined substantially from the start of the month.

In Chicago, Sears said its sales in May were 6.2 percent higher than a year earlier, led by strong increases in sales of major appliances and home furnishings. Edward R. Telling, the Sears chairman, said the increased sales of such goods was a reflection of improved economic conditions. Among the other big retailers, mart reported a 10.3 percent sales gain, F.W. Woolworth Co.

was up 4.2 percent and Allied Stores was up 16 percent. In its report on unemployment benefits, the Labor Department said first-time filings rose to 455.000 from 449,000 in the previous week. The latest week's total was nearly 30,000 less than in the first week of the month. Meanwhile, the Commerce Department said Wednes Dollar Metals Stock Market Advances Broadly NfWYOBK (AP). Spot nontarroutmelol prut Thurwtov Coptvf S7V43 cents 0 pound.

dry hnotiant. toptwf (fnK pr pound. NY Come Wol monttt ckH4 AM IMfl lf'j-J3cfto pound line 40cntopound. deiivrfd Tin ttU MetaK wt rompo-i1t lb Aluminum It rmK pound. Gold U1 pw Irov ounce.

Hand 4 Hofmon (only doilv Quote I GoKI t4 of lro Ounce. NY CpmM Spot month closed ed. Silver SI? 0S per trov ounce. Handv I Mormon (onlv daily quote I Silver SI 010 per troy ounce, NY Comei wot month closed Wed Mercury WU) OuUlO 00 per 76 lb lias. New York Platinum UTS nuTI OOdomnlK merchant Iron ounce.

LONDON (API The dollar turned mo mi red performance in ooilv liodimi today otter the preyiom day slioriq showing lire volue ot eold huilion also eras miaed In Tokyo, where Irodinp ends belore urooe beams, the dnilor eased margin ollv ossoinsl the Joponei yen otler rising lor sii slroioht sessions The dnllrjr tin nhed at yen. compared with J) 45 Wednesday I oler in urope Use dollar rose to Ml French troncs. oplrom e'vs WerlnesOnr II was the straight session tnot the dflilor has hi! record ooomst the Drleoouered French currency The dollar oiso improved oewmsl the British pound, with sterling rhonaing hands at SI down irons si Wi-dnesdoc Other mid morn ng donor rotes compared with kite Wednesdov included 7 vs West German marks, down Irons 7SSI0: 1 I0M Swiss irancs. down Irons I8A5S Dulrh guilders, up Irnm 741. I.stino Motion lire, up from I sm so i Ji Canadian dollars, down trom 1 Federal Reserve Board would adopt a more restrictive policy in an attempt to curb the growth of the money supply and prevent a resurgence of inflation.

But Preston Martin, vice chairman of the Fed, told a congressional committee Wednesday that the central bank was being careful to avoid overreacting to the money supply bulge of the last four weeks. He said the Fed was following a policy designed to accommodate what appears to be a stronger-than-ex-perted economic recovery. The NYSE's composite index rose .43 to 94.56. At the American Stock Exchange, the market value index was up 2.26 at 460 55. Big Board volume rose to 43.36 million shares a third of the way through the session from 37.55 million in the same period Wednesday.

after a 29.03 point slide in the three previous sessions. Interest rates fell in credit market trading, extending declines from late Wednesday. Yields on three-month Treasury bills, which stood at a twomonth high of 8.67 percent Wednesday morning, had dropped to 8.47 percent today. Interest rates rose earlier in the week amid heightened fears that the NEW YORK (AP) The stock market staged a broad advance today as interest rates fell. More than two stocks rose in price for every one that fell in the midday tally of New York Stock Exchange-listed issues.

The Dow Jones average of 30 industrial stocks was up 3.82 points at 1.206.03 in the first two hours. The blue-chip average had gained 2.23 points in a mixed market Wednesday Dividends Permits Worl.I CoM TNIMUMY OIVIMNOS Of CUBED AMEX Leaden Noon Composite NYSE Leaden STOCk VF0FS tanvenea TM timittw Prtll kminwununp lylMltiACwtedrrm Seiec ted worla gold prices Thursday London morning firm S4I I SO. up 1) Su London atternoon tiying S41? SO. up 12 SO Ports otlernronfiringU14 41. off SI 41 Fronkfurt holiday markets rlosnd 7urich late oilrrnoon bid.

14)3 50 up 15 50. MllTS.osked Handv 4 Harmon lonfy doily auolel I2 so up 13 so ngeihord fanlr daily auolel 1413 so, up S3 50 Engelhard fabricated lonly ddi'v ouoleiWU 13. up 57 43 NY (ome gold spot month Wed 1405 70. OH S4 30 UP14H0 DOWNS NfW YOPr tAPt The following list shows the Americon Stork chonoe stocks ond worronts that hove gone up the most ond down the most bosed on percent ot change for Thursday No securities trading below or 1000 shores are in? luded Net ond percentage honors ore the difference between the previous closing (Applicant, oodress, btiiMine purpote) Wm. C.

Watther, 1109 Huntsman Circle, residential. Carl Valletto. 7213 Lago Vista Court, Carl Valletto. 7212 Lago Vista Court, Carl Valletto. 7215 Lago Vista Court, Carl Valletto, 72 1 4 Lago Vista Court, Carl Valletto, 7225 Lago Vista Court, Carl Valletto, 7224 Lago Vista Court, UPSAPOOOWktl NEW YORK (API The following list 9how4 the New York Stock lirhorsge Stocks ond worrrmts thot hove gone up the most ond down the most bosed on percent of chonoe tor Thursday.

No securities trading below 47 or 1000 Shores ore included. Net ond percentage changes ore the difference between the previous closing price and looov noon price UPS 30 tS 71 7 774 5 TOO 734 7 777 773? 471 414 71? 0 742 1 10 553 7 U4 4 51 Willi IS 40 04 161 4 7 415 4 101 4101 137 4 411 I 143 0 4 70 1 141) 5101 154 I S37 I 123 I 117 I NetCMtKK Thu. Weekogo Month osso Yeorooo HW High 103 low IPft High 1983 Low price ond todov noon price Croup Average Changes-Noon NOON GROUP AYE RAGES NEW YORK IAP The following list fives toddy Overooe net chonge for the common slocks in each group ot noon Aerosooce. Aircraft Air Tronsport wnefs Auto. Truck Auto Ports A Accessories sss Bonks.

Savmos 4 Loon 'si Beveroge Soft Drinks unch Brewing. Distilling 4 Building 4 Sfc Chemicols 'n Communication unch Conglomerates. Oiversrfiod Containers. Pockogmg 4 St Drugs. Medical Supplies 4 Electronic.

tkKtrft Product 4 Finonce unch Foods. Cornrnodities 's, Food Morkets 4 vendors 4 Gold, Silver 4 '4 Hotels. Motets. Tourism 4 House Furnishings unrh Insurance unch Investment Companies 4 ve Machine ToolswAcceswri unrh Mochtnery unch Norn tost Chg Pet IPyrof hgy 17 5 t. Up tOwOlVtlAGCI Ckwvaea TM AHkCWMd Prw 4- I'si UP I5H ss I UP lediTnnutiFrga NIWYORKIAPi Handv and Harmon Spot silver Thursday SU 15 I ngeihord silver 113 30.

tobricoted HI 121 13 4- UP 13 II 1 l' 14i UP UPS Name Lost Clsg Pet IBPT Peony 5 Up 71 UP 17 4 llntlBnfcnot Ikt up 17 5 ICvprusCp UP 171 SArtonCpwt 7'1 UP II I ISFMCorp Ik III 111 7Sierrocin 14 TV. Up lljltimote 35' 11 vGeothBes 1 Up 17 lOAordsCos UP I llFnstorpt 4i 'lello II UPl) nTeiAmfng 5'1 Up 7) WWnohtHor 0 7H s-j UP 7 3 ISTortel I1 1 SSj Up 70 4VufconCorp ISsv 4 1 Up 41 Per- stfc ol Pay- od rot record abt ItliGULAI CourtoirtdsAOR 47 4-71 1 approe .05 par shore STOCK MvlonLabs 117 110 1 7 tor I split NIIMlcronettc US 4 10 I tor SW if Toys PUS 4J7 7 74 nofders opprove 3 lor 3 spirt WitcoChem 1 430 3 tor 3 split mciiAsto F'W)lnd ITS 7 15 41 Wiss-ss Volley 45 US 4 10 IKTEIIM AN2 BnkngADR 41 7 35 Opproi 093 per Deoositrxv shor. IINA4, WheelockAOP 434 45 OfJOTOi 13 per Deposftorv shor WITiAL WitcoClwmn 1 11 41 77 I -stauol SO .45 prior to 3 tor 3 split iGULAIt Allegheny Pwr 0 40 111 410 AmerodoHest 9 3tS II) I 10 Bk Building 0 .10 115 17 Berkshire Gat 0 .44 7 IS Cdo Packers .40 4-10 7 3 Chonspion Prod 0 II III 7' Colonial Hivid .01 115 170 ColontollncomFd 0 30 I IS 4 71 Enge'hordCor 0 II 1 15 110 aFstMississ 0 04 4)0 7 71 GenOvnomirs 0 75 7 15 I 15 Irdionopfs Psr 4 ID 7 IS Kenwood CO 70 4 15 474 LouisranoLond 0 75 II 4 15 louisvilleGo 0 575 410 I IS Morriatt Corp 0 09 4 7 II Vorsh Sunrmkt 0 7 15 7 79 MossFinHilncm 074 II I 74 ksossMutlMM 0 44 1 1) 474 Midland to 10 4 71 7 7 NtlOtv Lines 0 35 413 434 Pratt Lambert 0 5 41) 7 1 Srherer BP. 0 ll 411 7 5 SelertedAmer 179 7 30 ToofsieRofl 0 10 434 711 USF4GCP 0 471 7 7 WosbNtlCp 0 37 ID IB Weslburne intl 4 II Ik) 71 9-PoyoDfc Canodion Funds. Ztlosieel irorlmgg 4lntrsBar SUnirovol 4EvonsPd TTriongl Ind tAMBCOTPSrt Lehvallnd KtOrangeco ItClnrn Baker MScoolnc Net Chang Thu Weekogo Month ago Yeorooo l83Hign mi Low IWHign iej low 404 HI 111 HI 40) II.

7I Ml III 15 4 54 411 751 rt 401 I 4 54 4 76 3 111 Ml 54 4 74 7 111 HI Si 44.1 73) Id I Chicago Grain 4 UP Transactions 7lt 4- UP 30 II. UP Its, 4 1 Up IH UP 40 S7 Ch Pet 0 4 7 CHICAGO fAP) Noon trading an the Clwcogo Boord of Troa Thurscfov 04 IMP Lev hate Prey. rntciT LPMkeeMtmuPi. Ieltrs per twsM Jul )44 i 3 44 ss 3 44 3 44 -1 1 41V, Sep 3 i5rj 3 MM 1 15 1 3 .51 3 44., Dec 3 '0 3 77 3 '0 3 73 1 Mar 3 1 Mk 1M Mac )4 3HSW3I4 lllsllti 3H ON SALES NEW VOPK iapi-nv Stack Wkn Aoproi noon total 43 340 000 Previous day 14 ono week oao w.vMono Month ago Wim um Yeorooo 4 i0.0CO Twoyeorsood 4I.940.0M Jon I Moot I.J4V.J401W l87loOote SI? 10 000 1911 Wool 5.HS.7SYJ.O0O DOSYStS Lost 57i -II -li 77s, -l )' 3') -J" -31 -30 'l -14 311 111 311 311 3 77 Jul IfViOtoeWOf JOUOLI 7 3ap IMigh volt 4PecoanEa SPuritnFosel IFioweflndt 7MesoOHsh lUnPor MIS nsource lOBornetBk llBlockOect 171 nt Recti! UAARCp IIAmAgro '7 0 OH I on OH 01 Off OH Is OH OH I OH OH Vl Ofl Prey day sopeninl 31 333. 0 430 C0 DOWNS Metal Fooricoting Notts Lost Chg Pet Mining tnon nsetollKl 4 llnstron 70 3'1 Oft It I Motor Transport 4 Lommt 4 i TCrowtordEfl S- OH 44 Non-lerrcus Melots 3SharonStl 3 OH 41 Office Equipment 4 Servic 4 'i, 4Sf 6 I TOP I'k- vj OH SI Pooer.

Pulp 4 SBonistrCllg 7 14 OH 5 1 Petroleum 4 lAdamsRes 4, OH 5 0 Photo Products 4 Services TMocrodlnd 4 sk OH 4 9 Precision Instrument. Wotcttes 4 ISolidStSci 10 'l OH 41 Printing. Publishing 4-14 9Veritlnd 54 'k OH 4 4 Railroads. Roll Eauipmont 4 lOHowellind I OH 4) Real Estate TlMichGera 44 'r OH 31 Recreation. Leisure 12Grontlnd I3' a Ofl 3.4 Restouronts uncts 13RioGrndeDr 34 OH 3.4 Retoil Trode 'ft wt 10 4 OH II Rubber.

Tires unch ISMidlnd Glos 104 OH I Shipping. Shipbuilding '4 IkPulMHm 14', I'u OH 3 Shoes. Leather Products 4 'M SoaskCavntic.ToiMtrln 4 V4 3 05 3 0' 3 90 7 91 3 01s J04'4 3 3 90, IHIt 3 IK 3 lUi 3 10 JW i.imom 1.440.000 1440.000 AMI SALES Aoproi noon stock soles Stock soles year osso Aoproi noon bond soles) Bond soles year osso Jul Sep Dec Mar Moy Jul Itt 717 2 tssh 3t'Vi 315 34 3 4 3 '3 1 3 2 97. 91 3 00 4 3 41 3 3 i est 153407 SALES Prev day '1 open SOVlEites 4 15 4 104 4 407'4 4 19'! 4 II liMv Jul 4 II Aug 4 IS Sep 1 Nov 4 7 Stock Spotlight NYSE STOCKS MTMf SPOTLKHT NEW YORK IAPI Sales, noon price and net chonoe ot the titteen most active New York Slock xchonoe issuers, trad Omaha Livestock NASDAQ Index Oil. Got.

Mineral Lenses I Deeot Contract ReolE state Mrtos. a Chattel MNi a CoivtJ. Solos Conts Catscellotxm ot Mtrjss ConcelksttoA Jodqmts Liens Cancellation Financing Stotmtt Lient Filed 1 Juoanwnts Filed Eaistina Domicile Affidavit 1 Ditcnarves I Assignment! of Mtos IS EoMinentt Malic of Commenccmtnts Ftatancina Statements ..2 Miscellaneous Order Judgments Probate Division 47 Jvvenile Division Criminal Oivision Certificate of Title Total Instruments Filed Mav 11 IS Combination of Money Value (Even Dotlor Amounts) Mortgages Liens Judgments Ch.Mtgs. U7M2 S34.244 None Money market certificates effective June 1-6 are paying up to: 8.6S percent at both banks and savings and loan associations on three-month certificates; 9 percent at and 8.92 at banks on six-month certificates; and 9.S percent at and 9.25 at banks on l'j-year certificates. 4 73 0 4 17 IJI1HV1 I 31 1 4 71V) 4 II 4 71.

113.410 000 174.050 dOO 174.3IO.uDO SJ43.54O.0OO 17510 000 iTO.mtno NEWYOBHIAPl-NV Aoproi noon total Previous dov Veekogo Month 000 Yeorooo Twoveorsao Jon 1 to doM 1981 to dart I I 4) 4 II Stoek Spotlight AMEX AMEtlCAIt LEADCOI Jon MOT 4 13 17 4 55 4 50 4 44314 4 14 4, 4 55 4 41 4 44 44 I Mi 44' Itl'i May Jul 4 44 4 47 4 4 ') 4 70 4 741 4 13.7794,000 13.404.410.000 I 74 477 USOAO Itt0f NoonOTC Indices Today Net Chg Composite 309 154180 Industrials 374.11 43 IS ing nottortoilv of ftsore thon ll. 1H AtlMetro 1.741.700 I.413.400 I.235D00 Prev day open ml 15.703 S0tf0il (MM, Jul II 70 18 90 Dow Jones 00 18 87 91 19 01 OMAHA. Net) (API IUSOAI Orrrota Livestock Mockt quotations Thursday Hogs' 3000 Barrows ond gilts totrly higher with moil advance on weights over lb. US I 3s 310-250 48 00-41 3S, few ecrrry ales 350-340 lb 47 50-47 75 Sows steady-JO lawtr; US is 300-45 I37 50)I3S Cdttle ond corves 406 Few caws uneven, average fully stood. Other dosses poorly tested Steers food cftore.

ons prim near 1375 kg 44 00 bought to-orrtve Cows high cutler, utility ond cwnnserciol 40 0443 00. few high dressing to ASA. Conner and curler 15 OTMt at, NEW YORK IAPi New York Stock rchong Noon lnd: Model 414 cents Inoei 44 540 43 Industridt 10 590 Tronsport II 13-eO 33 Utility 47 1940 03 inane Nl 1141)4 vs vk 14 4 '4 4k it 1 4lk 4 4 '4 4I'4 4 414 Aug Sep Oct Dec ton Mar Instit tnw Btock Deck ArchDnM PmlipMorr GeniElecll Notomas OiomShni Boeing Am Horn IBM Kmnrt GjMW4t Hoiiburm 14 'lt 11 57 534 45 It 23 '4 31 44 lllv SIS 31 34 NEW YORK (API Soles, noon ortc ond net chonoe at the ten most octive Americon Stock Erchonge issues, trading rkilionollv at more than 11. Dunlap 381 400 I1. DomePtrl I75 9ryj 41114 4114 CvprusCp 113700 3-1 4 kk WortgLabB 118.400 34 4 S4 Intl Bnknot 107.400 44 4 ImpChem I3.yi0 7i se Science Mgt 4500O 34 DotaPrds 44 WO )4Sk 411 FedPesre 5900 1 4-14 InlegEno 54.900 tw 11 1144 19 01 1811 14 10 18 84 14 70 19 01 It 19 33 19 47 19 SO 14 45 14 71 30 75 30 05 70 kO 30 33 477 JO0 443 TOO 4B.0OO 57100 4X.I00 3400 383,900 37? 000 350 ,400 150 700 US .000 10 It 1) 14 04 75 14 75 14 IS SO 19 54 144 70 19 71 1 OS 30 05 1S 40 70 40 JO 40 30 45 30 40 Mav Jsrl NEW YORK (API OOw Jonrs I pre.

SlOCt crveroges 30 industraH 1705 4 31? 30 TronsponotKtn 5410 4 104 IS Utilities I7l ISS 41 Stocks 44 35 4 I II Arrwricon Stock NEW YORK (API -C ichanoe t4oon ifsdn 40.55433. Prev dov open red 57,435. oft 1 .000.