Oakland Tribune from Oakland, California • 34

TODAY'S BUSINESS MIRROR FINANCE and r. apital ows SI 34 Oakland Tribune, Monday, Jan. 19, 1953 Stock Prices Close on Fairly Steady Front By RADER WINGET NEW YORK, Jan. 19. J) The Stock Market wandered around in an irregular manner today but at the close it presented a fairly steady front.

Only a moderate amount of business was done. The spread went to between 1 Grain Futures Close Day With Modest Gains By WILLIAM FERRIS CHICAGO, 19. UP A slow but steady climb, accomplished on a light turnover, left grains with modest advances on the Board of Trade today. Most cereals opened lower on scattered commission house selling, Then wheat firmed. The bread cereal's strength helped the rest of the market, as did the fact there appeared to be no urgent selling, i By SAM DAWSON NEW YORK, Jan.

19. Business like most every-thing else in America today and tomorrow will have more of its jnind on the hoopla in Washington than on business. Even the confidence boom that developed after the election has simmered down to watch the inauguration and to wait for the coming messages in which the new President will outline his policies. Stock market traders mostly took Capital Gains Tax Stymies Wilson 4hi yl if 9 1 'if 4 Tl By JAMES Chicago Daily WASHINGTON. Jan.

19. It is the capital tax that)bulk of list in a fairly narrow causes Charles Wilscn, former presidcnl of General Mo-, g7Xme dwindled down tors to hesitate about selling his $2,500,000 G.M. stock to around a and a tnd reinvesting in firms that do not do business with the; half shares, an indication of the Defense Department. state of indecision in Wall Street By remaining a G.M. stockholder, Wilson has caused) at the moment Friday's total questions to arise among senators considering his nomina Harold Culy right), co-owner Culy Transportation Company, is congratulated upon his election as president of the Alameda County Unit Truck Owners Association of California, by Eddie Adams, owner of the Commercial Drcryage Company Oeft), and Herb Moore, vice-president of Morris Draying Company, Association state president DEFIED rheTrade Winds M.

HAS WELL News Service Wilson Has Precedent for His Position Chicago Daily News Serrice NEW YORK, Jan. 19. When William S. Knudsen, then president of General Motors, was rallpd tr Washi'nptnn hv Prpi- dent Roosevelt in 1940 fo boss defense production, he did hot sell his large holdings of General Motort stock. I "Knudsen took a leave of absence as GM's chief.

He still was president of GM and C. E. became acting president, just as Harlow H. Curtice is today. Wilson is on leave of absence from his GM post pending his confirmation by the Senate as Secretary of Defense.

If and when the Senate confirms his appointment, Wilson has announced he will resign as president of GM but he has he does not want to sell his stock. WIDELY PRAISED Knudsen has been widely When Knudsen took the job he Jsaid to friends in his pronounced last week off. figuring that after pushing the price averages back up to the 1930 level they had sufficiently discounted the new regime in advance. Now they'll wait and see. But business and industrial reports, j' filtering in through today's breathing spell, show how far the confidence boom has gone.

Steel mills, that usually make just another month out of January, are funning at such a clip this time that they may push output for the month to a new record high. Retail trade has continued since Christmas at an unexpectedly high rate. TOP ALL RECORDS The Nation's chain stores and mail order companies now reporting on their December business, show it toDDed all records. 'The holiday sales were large enough in almost all cases to put the firms' sales for the entire year anywhere from 2 to 9 per cent above 1951 dollar volume. Home builders also report 1952 turned into a better year than first anticipated, and better than 1951 by 4 per cent.

It was the fourth straight year that housing starts -topped one million units. Many builders are predicting a slight drop this year from the 1,131,200 in 1952, but most think they yill reach the million unit mark again. BuilcUng materials manufacturers; anticipating keener competition this year, are setting up displays in Chicago to entice the members of the National Association' of Home Builders, opening there today. Horrje appliance makers also GOVERNMENT tiVi to be secretary of de lenie-. Wilson presumably accumulated his 29,000 shares over many years during which the market price of CM.

stock fluctuated widely. He has received bonus stock, and stock dividends. i ccst to him of the sharesi 2re owns doubtless is far less than! the current $2,500,000 market price. If he sells out now. Uncle Sam will levy a tax of 26 per rent on the gain in capital value rJf his holdings.

UOC.VD TO BE LARGE In figuring this increase in lvalue, the CM. market prices at the time he received his bonus Shares and dividend shares will 3 used. And in today's market, flfce resulting capital gain is Abound to be large, and the tax 'correspondingly heavy. In addition, Wilson would have less money to reinvest if he sold cut Instead of earning, money cn a J2.500.0O0 investment, he would be receiving dividends on a smaller holding. By selling out and reinvesting.

By LUU SUliISillJH.K NEW YORK, Jan. 19 -American families have full faith in the dollar, and have defied the inflation fears spread by various organizations. There's no better proof than the statistics on the sale of life insurance policies. The volume hit an all-time high over the years which inflation was sweeping the Nation and dollar-purchasing power was in a slump. The Institute of Life Insur-i Bond Market Moves Lower and 2 points either way with the icame to 1,710,000 shares.

Railroads displayed small losses with a few leaders posting strong gains most of the time. Aircrafts hugged the upside. Chemicals and oils were marked down. Other areas were steady to mixed. Some sources felt that it might be better to hear Eisenhower's inauguration address before taking any major market stand.

Packard was a strong feature all day with an opening block of 11.000 shares up at a new 1952-53 high of 6. It later gained a bit more in active -trading. Avco hit the tape with block of 10,000 shares unchanged at 8Y. John H. Davis Named Head of Credit Body WASHINGTON.

Jan. 19 jonn h. uavis oi nosion was named today, as new president of the Commodity Credit Corpo ration (CCC), the Department of Agriculture's $6,700,000,000 agency. Davis, 48, will take office Wednesday, secretary of Agri- 'culture designate Ezra Taft Ben json said in announcing the ap- The department's Production and Marketing Administration (PMA), Benson announced Saturday, will be headed by Howard H. Gordon of Richmond, now assistant general manager of the Southern States Co-operative.

He, too, will take over Wednesday. 0 It was in the department's grain storage program, administered by PMA and financed by CCC, that congressional investigators last year aired evidence of shortages. Hearings showed that some operators of private warehouses which government-owned grain was stored had sold it in the hopes of making replacements later at a profit. The grain market did not drop as expected, however, and the operators had to settle up. Like Gordon, who is a native of North Carolina, Davis was born and reared a farm boy.

Davis was born near Wellsville, grew up -in Missouri and Iowa, received a bachelor's degree from Iowa State College and his master's degree and doctorate in agricultural economics from the University of Wilson would not only lose the praised lor tne job ne did as value of the capital gains tax he, head of the Office of Production ravs. He also would receive a 'Management. accent: "wnen tney ON SPECULATIVE TRADING Show Business are on hand. Most of them predict a big year ahead for appliances, but competition will jbe much greater. Housekeeping by industry is also looking for a big year.

With expansion of industrial plants at a peak, the need for plant main tenance and the reduction of operating costs is being stressed at the plant maintenance show opening today in Cleveland. Some 7000 products which help to keep a plant tidy and profitable are on display, i Workers also have a booming note of cheer today from the Bureau of Employment Security in the Labor Department. Its director predicts employment will break all records this coming summer when the farm harvest season hits its peak. Last June employment set a record at 62,600,000. At least 400,000 more than that should be employed this summer, the bureau official thinks.

SOUR NOTE A sour note creeps in, however. W. I. Myers, chairman of the Interim Commission on Agriculture named by the incoming President, says that a recession is likely some time 4 during the middle 1950's. The era of good feeling is opening today, nevertheless, with a striking example.

Willys-Overland is paying for full-page ads in some 35 newspapers, headlined "hats off to Cadillac." This unique twist in autoland hails Cadillac for being chosen "1952 car of the year" by Motor Trend magazine. P.S.: Willys mentions it won second place. EXTENDS! RULE pounds of cottonseed oil, three million pound3 of soybean' oil and 1,600,000 of lard. The limits become effective April 1. This means no trader may.

buy or sell, for speculative purposes, more than these amounts on any one market in any one day. It also means that a speculative trader may not hold more than these amounts in any one market at any one Bona fide hedging transactions those made for price protection purposes; only will be exempt from the limits. Also exempted will be sales of soybean and cottonseed oil processors. The limits will not apply to market positions acquired by traders in good faith prior to the effective date of the order. tional business originating west of the Rocky Mountains, officials said.

It also signifies more intensive service on all regional and national accounts out of the Bay area, New York or Detroit. Royce Russell becomes president of BSF and of the Pacific Coast, with King Harris as vice-president and treasurer and Parker Wood as vice-president and secretary. Donald M. Murphy, director of public relations for Lucky Stores, has been elected secretary and treasurer of the Bortter Business Bureau of Oakland, to fill the unexpired term of Howard C. Stovei, Oakland Tribune advertising director who died during the New Year's holidays.

William G. Pocock has hern appointed advertising manager ior an American World Airways' Pacific-Alaska division, with headquarters at San Francisco, according to H. F. Milley, division traffic and sales manager. Pocock attended Oakland schools and after several positions in journalism and advertising joined PAA in 1950.

Hotel California, 200-room hotel at 35th Street and San Pablo Avenue, has been leased by the Jahn-Stuckey Hotel Corporation and re-opened Friday. A formal opening is planned shortly with Joe Louis, former heavyweight boxing champion; Lena Home, Hollywood singer; Eddie "Rochester" Anderson, and Louise Beavers as invited guests. Assemblyman W. Byron Rum-ford; Walter Gordon, Adult Authority chairman, and other Oakland area civic leaders also will be invited. Kenneth G.

Jahn and Donald B. Stuckey presently operate the Ebony Plaza Hotel at 29th Street and San Pablo Avenue, and sev- A SJSj A erai oxner smauer noxeis nere. this war on wheels they got right down our Later he was appointed a lieu tenant general and he resigned the presidency of General Motors. Wilson was named president. In discussions here, the Knudsen record is regarded as a precedent that would permit Wilson to keep his stock.

Wilson, like Knudsen, is regarded as the kind of man who bends over backwards to prevent any suspicion of wrong-doing. Just as the late President Roosevelt sought out Knudsen and persuaded him to take a gov- ernment post in time or crisis, Eisenhower sought out Wilson. SOME DIFFERENCES In Washington, however, it was pointed out that there are some differences between the post Knudsen held in government and the one Wilson is scheduled to occupy. Knudsen's appointment as head of OPM did not require Senate confirmation and his job was that of expediter more than administrative. Wilson's post would be that of a top administrator and requires Senate confirmation.

Export houses bought wheat following sale of a cargo of the grain to the United Kingdom. Lack of moisture in the southwest and reports of heavy im- poundings under the government loan also encouraged demand. Wheat closed 1V to 14 higher, March corn to 14 higher, March oats 1 to IV higher. March 82to-82y: rye IV to 2V higher. May $1.

soybeans 1 to 2'4 higher, January $2. 91-2. 92. and lard 2 cents lower to 3 cents a hundred pounds nigner, January GRAIN RANGE CHICAGO. Jan.

19 Open Hign Low Close WiiEAT Mar. 2.30V4-H May 2.344 July 2.33V. Sept. 2.34 Vi-H CORN Mar. May.

1.644-Va July 1.66H- Sept. 1.654-H OATS Mar. May Juiy Sept. RYE Mar. 1.81 Va May 1.84 July 1.854 Sept.

1.87 SOYBEANS Jan. 2.90V4 2.32V. 2.304 2 32. 2.35 2.34V, 2.34', -35 2.34' 2.33 2.344 2.36 2.34 2.35T.-38 1.63H 1.62 1.63V4 1.66V. 1.64V.

1.66V.-68 1.67'. 1.66 Va 1.67H 1.67V. 1.65V. 1.67Va-y .81 .81 .804 .79 .81 1.81V. 1.81V4 1.814 1.86 1.84 1.854-88 1.85 V.

1.87 1.89V. 1.87 1.89V4-V4 2.92 2.90 2.914-92 2.86V4 2.93V4 2.96V4-96 2.96 2.93V4 2.95V-'4 2 2.92 2.94V4-9S 2.85 2.82 2.85 Mar. 2.93 'i-Vi May 2.93V4-V4 2.92V4 July Sept. Z.82J4 LARD Jan. 9.42 9.45 9.85 10.22 10.57 10.95 9.42 9.75 10.15 10.55 10.95 9.45 9.80 10.17 10.55 10.95 Mar.

May July Sept. 9 80 10.20-22 10.57 10.95 CASH GRAIN CHICAGO. Jan. 19. VP) Cash wheat: None.

Corn: No. 3 yellow. No. 4 No. 5, sample grade.

Oats: No. 1 white. 92y-93V4C: No. 2 white. 90V4C; sample grade medium heavy white, 82V.C.

Barley, nominal: Malting, feed. Field seed, per hundredweight, nom inal; Sweet clover. redtop. $38. 00-39.

0J; alsike. timothy. lJ.uu-u.S(; red clover, Soybeans: None. U.S. GRAIN VISIBLE CHICAGO, Jan.

19. f--Visible supply of wheat decreased 5,149,000 bushels to zzo.397,000 bushels this week, the Board of Trade reported today. Corn decreased 2.234.000 to 4t.244.000 bushels, oats de creased 1.988.ii00 to 19.992.000, rye decreased 224.0T3 to 2,362.000. barley decreased 387.000 to 9.293.000, and soybeans decreased 479.000 to 12.207.000. LOCAL GRAIN GRAIN In carlots.per bulk basis f.o.b.

tracks at San Francisco: No. 2 bright Western bar ley, testing 44 pounds $3.40 No. 1 bright Western marl- out, testing 46 pounds, "white" 3.45 Medium malting tvpes 3.60 3.75 ft3.75 uooa mauing types 3.65 Choice malting types 3.65 rvu. nira wmic wneai 3.92Vii3.974 No. 1 soft white wheat Heavy dockage wheat 3 92V.b3.97Vi 3 85 JNo.

yellow corn 3.5. 59 63.59 No. 2 yellow milo 3.50 Sample grade red feed oats 3.50 f53.55 mllxj- ti.us Bagged, per ton. in car-lots: Standard millrun $62.00 Red wheat bran 73.00 ALFALFA Bailed, per ton, in carlots: Choice alfalfa, generally comparable to U.S. No.

1 $42.00043.50 No. 1 dairy, generally com parable to U.S. No. 2 leafv 40.00 042.00 No. 2 dairy, generally com parable to U.S.

No. 2 38.00iff40.00 POULTRY AND GAME Federal-8tate Market News 8ervle Paying Price price to relive, tailers. f.o.b. S.F. dressed DK.ll.fcH.- 14 to 2V lbs 32T33 46W FRY EH 2Va to 3 los 34fi35 3 to 4 lbs 35-U36 KOASTEnS- lbs.

a id over 36i37 49(3 50 Hens, under 4 lbs. 23i24 34fr35 Hens. 4 Its. and 2425 35r36 Hens, hetvy, all 4042 OLD ROOSTERS All weights 15617 S5S27 All welffhta 4546 rURKEYS Hens, yomit, Toms, young, all wts. 42fi45 SQUABS Law 0 l.lSai.25 DOMESTIC RABBITS Under 12 lbs.

64365 DAIRY PRODUCTS BUTTER 93 score, 69c; 92 score, 69c; 90 score. CHEESE Grade A. loaf. 48fi50c; grade A. single.

43i46c. EGGS Liirge. grade A. 55ac: medium, grade A. 53Vac; small, grade A.

49'ic. Poultry froducers ol Central California: Large, grade A. 57c: medium, grade A. 55c; small, grade A. 51c.

I LIVESTOCK MARKET SOUTH SAN FRANCISCO, Jan. (U.R Livesfaick: CATTLE Salable. 500. Supply slsts of sevcn loads slaughter steers. mivt atr and heifers, short con- load load range cows, the equivalent of 10 loads rows, and around one load stockers ar.d feeders offered In small lots.

Market not established on any Fen1 lots mostly utility dairy-type cows. CALVES Salable, 25. Not enough early to test prices. HOGS Salable. 400.

Market not established. SHEEP Salable, 700. Supply mostly wooled lam js but market not established. N.Y. COTTON MARKET NEW YORK.

Jan. 19. 0" Cotton futures closed 20 to 95 cents a bale higher than the prpvlou c1oe: Hi eh Low Close March May July October December March May July Middling, spot, n-Nominal. 33.02 33.50 ...33.89 ,..33.87 ...33.97 34.07 34.07 32.73 33.15 33.57 33.60 33.68 33.82 32.86-90 33 40 33.81-83 33.84 33.94 34.06n 34.06n 33.96n 33 95 33.96 33.96 33.15(1, UP 5. SUGAR FUTURES NEW YORK.

Jan. 19. JPi Domestic sugar futures. No. closed 1 higher to 1 lower.

Sales. 52 contracts. March 6.46b, May 5.57, July 5.77, September 5.B5n. World sugar futures. No.

4, closed 1 to 2 lower. Sales. 85 contract. March 3.54b. May 3.54, July 3.54b, September 3.55., Raw sugar, spot.

6.00n. n-Nomtnal. b-Bid. SPOT METALS NEW YORK. Jan.

19. Spot non-ferrous metal prices today: Copper. 24 '-ac pound. Connecticut Valley; lead. 14c pound.

New York; zinc. 12Vc a pound. East St Louis; tin. $1.21 Mi a pound. New Quicksilver.

76-pound flask. 5215. New York. DIVIDENDS DECLARED ONEIDA. 4 per cent stock, pay January 31.

record January 31. nwi nr. A Mnti nav March 18. WHAT THEY'RE DOING and- Industry in Eastbay ance reports that American families bought $22.7 billion worth in 1952. The amount now in force totals $276 billion, owned by 88,000,000 policyholders, and is $124 billion more than at the close of World War II.

Moreover, it's interesting to note that throughout the inflation spell of the past 10 years, the dollar volume of life insurance ownership has doubled, and it is now nearly three times greater than 20 years ago. -1 Life insurance isn't an inflation hedge. Payment is in the amount of dollars at the time of purchase. If Americans feared collapse of the dollar, insurance was the worst purchase. But the figures show they proved their faith in the Nation and defied inflation.

Corporate 'advertising managers plan to do a record-breaking volume of spending this year. The emphasis will be via newspapers. That media, they say, gives them the best results in selling anything from automobiles to cosmetics. Automobile owners are de manding rewards for safe driving. With insurance rates sky high, they insist upon a merit system allowing substantial dis counts on Though auto insurance officials will fight a merit system, some form of relief is likely.

Canadian firms now give a 20 per cent premium discount for drivers free of accidents for three consecutive years. Numerous readers write, since the elections, asking whether it's wise to open a new business. Well, conditions are good, but competition is intense. Yet( at any time, success depends upon the individual. The main factors are a proper location, know-how in merchandise buying, and ability to find and satisfy customers.

And the man who rolls up his sleeves stands less chance of losing his shirt. Want to hear expert views about the effects of the excessive whisky tax on the state and national economy, and its social evils? The liquor industry tax committee has 250 trade members ready to make informative talks. Calvert Distillers' President W. W. Wachtel, head of its speakers bureau, promises a speaker for any meeting arranged in the United States.

Office workers write asking where to find a. good job at an attractive wage. Oddly enough, a definite answer is available. Send 35 cents to the Superintendent of Documents, Bureau of Labor Statistics, Department of Labor, Washington, D.C. Write clearly, and ask for BLS Bulletin No.

113. entitled "Wages jand Related Benefits 40 Labor Markets." United Can Names Executive Officer R. J. Miedel, president cf United Can Glass Hay wfird, has announced the election of Carl Kalbfleisch as executive vice-president. Kalbfleisch has been vice-president in charge of production for the "company and wil continue to supervise the company's production.

Kalbfleisch joined the company in 1946 as assistant to the president He is an engineer In production management and be-: came vice-president in charge of production for the company in 1947. His home is. in Orinda. I INVESTMENT Gentleman esrly forties with wide business experience and excellent references, desires to Invest his tims and up to tl00.000.00 In a profitable concern. Prefers business operating at the wholesale level.

Address all inquiries to i Oaktaa Tribaae, Bex Ns. M-3I490S By ARTHUR MERIMS NEW YORK, Jan. 19. (D The bond market was narrowly lower today in brisk trading. U.S.

Government bond bounced back from morning declines to higher ground. Most utilities and industrials were steady. Railroads down from one to more than two points included Norfolk and Western 4s at 118, Chicago Great Western 4s at 90 Southern Pacific convertible 3s at 162s4, Baltimore and Ohio 4s of 19080 at 95, and Central of Georgia 4s at 82. An underwriting syndicate headed by Lehman Brothers and Bear, Stearns and Company, won 12 million dollars of Kansas City Power, and Light Company first mortgage bonds in extremely close competitive bidding. T'Ua inn rrnn iiic giuup Diu 1UU.U9 ior OV4 per cent 30-year obligations.

Re-offering to private investors is slated at 101.347 to yield 3.18 per cent interest. Seven other bids were close behind the high offer. In, new financing activity, nearly 161 million dollars worth of state and municipal bonds are slated to come to market this week, compared with slightly more than 50 millions last week. The total is boosted this week by the offering Wednesday of $127,215,000 of Public Housing Authority tax-exempts from 47 communities. Total Copper Deliveries at 7-Year Record NEW YORK, Jan.

19. Iffl Copper deliveries to U.S. fabricators in 1952 were the largest in seven years, the Copper Institute reported. Deliveries last year, including copper from government stocks and foreign sources, amounted to 1,445,764 tons, compared with 1,367,7.87 for the previous year. The total was the largest since 1,517,842 tons were delivered in 1945, last year of World War II.

Shipments in December were 143,038 tons best monthly total since January of 1947. November shipments in 1952 amounted to 125,338 tons. Stocks of refined copper in producers' hands declined 10,379 tons during December to total 53,858 tons at the year-end. Mine production of copper rose to 81,876 tons in December from November's 78,023 tons. Secondary output of 3961 tons in December compared with 2413 tons in November.

Tsar Money Can Earn DYNAII CORPORATION 6 Preferred Stock WHY ACCEPT A LOWER EARNING? 1 0 per share quarterly dividend Invest today in a trowine- California Corporation engaged in the finance field. Drss in sbsas fsr fsll details. DYNAN CORPORATION Bank of America Bldj. 1212 Broadway, Suit 732 Phone GLencowrt 2-399S HOW fi smaller income in future years from his reduced investment. Another feature of Wilson nances that has attracted sena-1 tvVal interest is his right to re- 1800 additional shares of CM.

stocks, plus $625,000 cash, cunng the next four years. These payments will come to him because of bonuses already 'declared, and because of earn-fings G. M. already has made. The payments are being spread ever five years under the standard G.

M. executive bonus ar-rangement. The senators have wondered whether this leaves 3. M. with any strings on Wil-Ton.

If it does, of course, he must cut tee string to laxe me secre- tary of Defense job. Wilson has explained he thinks the only string involved is his-promise Eot to go to work for some other auto company during that period. But the text of the proviso is being studied. FULLER EXPLANATION Members of the Armed Services Committee are awaiting with a good deal of interest Wilson's reappearance before them next Wednesday. The implications of many of the things he said to them last Thursday were not fully explored then, but now will be.

Members of the Senate Finance Committee also are alerted to the questioning Monday of George M. Humphrey, who is slated to be secretary of the Treasury. They will want to know whether Humphrey has sold his holding in the M. A. Hanna Company, as well as severed his official con- Eectioas.

Oprrttkt. du. Ckuf DtOr News Caterpillar Co. Promotes Engineer The promotion of Donald F. Coonan to the position cf earth-moving engineer for Caterpillar Tractor Company was announced today.

For the past year he has tn a district representative for the company in the Sacramento area. In Yds new position he will work with distributors throughout the Western states. He will be headquartered at the company's San Leandro plant. A graduate engineer, Coonan his had experience as a contractor and as a conductor of demon-trations and schools of all types throughout the country for Caterpillar. He succeeds W.

G. Bloxham who has joined Shepard Tractor and Equipment Company, Caterpillar distributor at Los Angeles. Dcaald F. Coonan 7 I WASHINGTON, Jan. 19.

CD The Government has set up limits- on speculative trading in cottonseed oil, soybean oil and lard futures delivery contracts. This action was taken last week by the Commodity Exchange Commission to prevent what it called excessive speculation) in these -commodities. The commission consists of secretaries of agriculture and commerce and the attorney general. Similar limits have been set up in! the past on trading in grains cotton, soybeans and some other farm commodities. Officials said extension of limits to the new commodities was made because there has been a sharp expansion in speculative trading in them during' recent years.

The i limits are 3,600,000 Robert C. manager of; sales for the division, succeed Staley as manager of sales, C. W. Roberts, vice-president, said today. Leo V.

Merle, former partner in the San Francisco investment firm Stewart, Scanlon and Company, has been elected a director of the Bulldog Pallet Company of Newark, according to Richard M. Duff, board chairman of the Bulldog company. Two new appointments within Pacific Untermountain Express have been disclosed by Parkman Sayward, vice-president, sales and traffic. Moreland B. Falkell, formerly of the public relations department, has been named director of advertising and sales promotion.

Lawrence Priddy has been named director of public relations and will co-ordinate the activities of this department of the sales and traffic division in its new organizational setup. Irving Sabway Grating Company of I Oakland and Long Island City, Yn has been awarded' a certificate of appreciation, the Army's highest award to civilians in recognition of patriotic service. The award was won by the firm for its pioneering work in the development of portable steel landing mats, used extensively in World War II on beaches in construction of emergency landing strips. RusselL Harris and Wood, San Francisco advertising firm, with Brooke, Smith, French and Dorrance, Inc. of New York and Detroit, have jointly announced I formation of Brooke, Smith, French and Dorrance of the Pacific Coast, Inc, with head offices in San Francisco.

The formation of the new corporation forecasts an aggres usiness The Trade Club of the Oakland Chamber of Commerce will hold its monthly meeting January 28 at the Colombo Club, 5321 Claremont Avenue, under sponsorship of the steel-heavy hardware jobbers. The reception starts at 5 p.m., dinner at 7 p.m. and entertainment at 8 p.m., according to Frank Piva. rite trader. This month's sponsors are Baker and Hamilton Company, Borrmann Steel Company.

A. M. Castle and Company, Gilmore Steel Company, Grinnell and Company, Howard Supply Com pany, Earle M. Jorgensen Steel Company, Republic Supply Company, Joseph T. Ryerson and Son, Tayler and Spotswobd, and Ziegler Steel Company, according to Don Marquis, head trader.

Dr. Cledo Brunetti will resign his position as associate director of the Stanford Research Institute to accept an executive research post with General Mills Mechanical Division, it was announced today. Dr. Brunetti's appointment, effective March 1, will take hfm to Minneapolis, head quarters of the company. It is expected that Dr.

Brunetti's new interests will carry him into the field of development of new medical instruments for diagnosis and treatment of human disorders. 0 The 1953 International Harvester appliance line has been Dresented to Bav area dealers by Thomson-Diggs Company, ap pliance division, of ban iran- cisco. Hiehlieht of the rrevue was the new "Decorator" model, in troducing a new decorating idea for home refrigerators. Officials in charee were Bruce Wilson, manager, and William R. Cook, sales manager or J.

nomson-Lnggs Company: Ted district refrieeration sales manager and C. Knudsen, district manager of International Harvester, Oakland. Allen C. Staley Jr, of San Francisco, manager of sales for the Pacific division of the American Can Company, has been named assistant general manager of sales for the company, T. E.

Alwyn, sales vice-president, said today. Lateit Wk. Prev. Wk. ear Ao M4 tUXti 98 i K3.0U 1 JS.SW 7.U0.00 S323.M6.0M 14 1 M.t 10.t so t44.710 360,091 M.66S 11.76O.0O0 S3441.000 6.1 43S.0 164 1UJ T.S.43 $53,706,000 $21.

267.000 $890,000 $00,000 $2,528.000 o.x ,900.000 isj 109.7 omitted In S.1SS.429 T.UJ.I5S SM.47S.ff 123.MO.000 S391.0O9 S23.irJ.00O 1 1.16 .009 2S.4,000 llS.9S.5oa i54 .044,000 $23.10.000 i 95.000 $23,117,008 ll.27S.0OS S3O.1U,0OO WeeVs Business Box Score NEW YORK, Jan. The following table shows how major lines of business and finance fared in the latest week, together with comparisons with the preceding week and a year ago: Steel production per cent ol capacity) rreiht carlodin MBcellaneom frint Auto production units Soft coal production (tonsi tnnc ou. pmunna iw.iw Encinerin( awards Paper production tper ml of capacttyt S.i Paper board prod, i per cent of capacity) Stock sales isharesi 1. TO. 15 Bond sales (par value flt.720jn Business failures inumDeri Wholesale price (BLS Index I (Final three ciphers Electrar power production (k.w.b.) Bank cieanncs Demand deposit Business loans Excess reserves Treasury t'i stock Brokers1 toaas Money In circulation record February 16.

sive approach to important na.