Oakland Tribune from Oakland, California • 64

uj JT EVERYBODY'S BUSINESS FINANCE and Stocks End Notes on Bay Commerce A $1,000 check ha. beea U.S. HEAVY BUILDING AWARDS DIP NEW YORK, Dec. 6 1 Heavy construction contract awards reported in the holiday week ended Monday declined to $200,970,000 from the previous five-day week. Engineering News Record and 60 Oakland Tribune, Friday, Dec.

6, 1957 Firm Tone Displayed By Wheat By EARL AYKROID CHICAGO, Dec. 6 ufl Wheat futures were firm most of the session but corn weakened in quiet dealings on the Board of Trade today. Activity in wheat futures reflected evening up by local traders for the weekend. There was buying too, mostly of the December contract, on expectations that Pakistan will be in thi' market next week for around 22.000.000 bushels of the bread grain. Whrrit lofed uni hditjtrd 1 I 'a hllc'ri.

rx-i $2 20' nun 1 to 2 rents Inner, Ore fl ouls In Inwcl. rf to 1 'a lillihtr. Dec 17'. nrrnn un- li.ii.Keit In lower J.n J2 laid iii.i handed to 17 imiS a hun-rirr1 poiinds hiKliri Dec. $125-37 GRAIN RANGE TODAY'S MIRROR Bright Outlook Seen by Many By SAM DAWSON NEW YORK, Doc.

6 Neither a sorrv market nor the qualms of some hankers ran stay the business optimists today in their yeannd practice of foreseeing a better year dawning. Quite a number see showing an overall gain for the economy. Even more believe their own industry or Mil (.1 )r, principal speaker Tuesday at a meeting or me me i-unim-tors Association of Northern California. Hennessv will speak on "Mortgage Financing Dis crimination in California" and will discuss current building problems and the prospects for building activity during the coming year. The meeting will be held at the Ranch House in San Francisco.

A $68,925 contract for re pairs to the USS Zelima and stores ship ua Aiuara nas been awarded to the Moore Dry Dock Co. of Oakland by the Navy. Other Navy contracts awarded during November were as follows: Fulton Shipyard, Antioch: $15,800 for repair work on one service craft; Wagner and Niehaus General Machine Chnn Oakland: S2.100 for re- tQ stores ship USS p. Lester E. Hammar, plant accountant at Monsanto Chemical Company's Avon plant in Contra Costa County, has been appointed chief plant accountant at Monsanto's An-niston, plant.

Al Roth has been appointed manager of the Oakland store of American Ball Roller Bearing Walter S. Corneille, president of the firm, announced today. Roth has been a bearing o. spt'Liausi. in Odii jusc iui muic than 10 years.

T. E. Duffy, The Purdy South San Francisco, has been elected president of the Northern California chapter, Institute of ScraD Iron Steel Inc. Elected first vice president was David M. Hillman, East Temporary authority has I been granted by the Inter-1 state Commerce Commission and the State Public Utilities Commission to a 1 1 J.

Roush. president of Oreeon Nevada California a Freight to operate Southern California Freight Lines. Roush said i.0.iinment and terminal facilities of Southern California Freight Lines will be completely modernized. Each carrier will maintain its present identity and Southern California personnel will be retained wherever possible, he said. The authority places under one management one of the largest through motor carrier services on West Coast, with through service between the State of Washington and the Mexican border.

Roush purchased Oregon Nevada California Fast Freight in 1956 after 26 years in the motor freight industry, He founded Roadway Express, of Akron, O. Oregon Nevada California has its Oakland offices at 1700 West Grand Southern California Oakland terminal is at Seventh and Ferry Streets. R. Walker Jr. E.

L. Hsley j. k. naiiter jr. oi uamana and Ernest L.

Ilsley have been elected vice presidents of Kai I ii. hi, CIqt HUK1 Dr. 18'. 2 III1, 2 2 21 2 2.1 2 24. M.i 2 19'.

2 2i', 2 I'l1, 2 20-20'. Julv I H5 i IKS', I 4. 195'-, Sep I 97v 198', 197', 197V1! COKN Drr 1 1 17', I M.ir 121', 121'. I Mi I 2.T. 12.1'.

1 2.T, I Julv I 2o 1 2.V. Sep I 25 I 24'. 1 241. I OATS Dei-. fih', Mm fin rsr; fiip H6 M.t K4 1 4 H4 July t2'4 S('I ti2', W1, RYE t.

I 3ly'j I .18 I 1 Mr I .17 1 .18 I 3ti 1 38-37 I Mav 1 XV 134 132', 13.1',-'j Jtilv I 2. I li', 1 24 1 25' SOYBKANS- Jn 2 32'. 2 32'. Mar. 2 31V'.

2. '16'. Mav 239', 2.19'. 2 38J, 2 39', -39 Julv 2 37J-J, 2 37', 2 37 2 37J, Sep 2 27 2 27 2 26', 2 26', Ul'il n.r 12 .12 12 42 12.10 12 35-37 Jan 11 95 12 II R5 1 1 9j Mi. I I 72 1 1 65 1 1 711 11 72 M.n II 72 II 80 II 70 1 1 75 July 11 75 II 75 11 75 II 75 Week on Downside By WILLIAM FERRIS NEW YORK.

Dec 6 The stock market closed lower today with aircraft-missiles down on disappointment at failure of the Vanguard satellite project SteeK. motois, metals, oils and rails were nown fractions to about 1 point. There were Mime lossi running to around 2 points pai ticulariy in the air-ii a -missi les. Then- was a flurry of selling in the aircraft missiles immediately after the satellite f.oliiie The ticker tape briefly lan behind floor ti ansactions At this juncture Douglas and North American 2 points The lies was erased later by North Ameiiean while Douglas went up a fi act ion from the picAious i ii.i Lockhi ed was ahi ad neailv 2 points. Boeing showed a small gain.

I Martin was most upset by the llite failure. It is the pi ime conti actor on the Vanguard project. Orders piled up and trading was suspended I hour and 37 minutes. It lost more than a point. Record Sales Revealed by Packard-Bell Packard-Bell Electronics Corp.

achieved record high sales of for the fiscal year ended Sept. 30, 1957. representing an increase of 13.5 per cent over sales of for the previous year, it was revealed yesterday in the annual report to shareholders. President Robert S. Bell at tributed the major portion of the increase to the Packard-Bell Technical Products Division, which upped its sales of advanced electronic equipment to $12,152,386 from $6,884,022 reported for fiscal 1956, an increase of 76 per cent.

Net income. Bell said, amounted to $704,447, or $1.02 per share on the 688,000 shares outstanding, as compared to or $1.25 per share, for the previous year. Siegler TV Sets Sales Record The Siegler Corporation's Olympic Radio Television Division reported gross sales for the first 10 months ending October 31 reached $22.1 million, 24.6 per cent above that of a comparable period in 1956 and the highest recorded by the company. The volume also represented a 55.6 per cent increase over a like period in 1955, according to "ohn G. Brooks, Siegler president.

TRADE WINDS i I ser Steel Corporation by the Bay Iron Metal Oak-board of directors, it was an- 'and. G. Nethaway, The Purdy nounced today by Jack L. South San Francisco, is sales promotion and sales train-Ashby, vice president and gen-1 the new secretary-treasurer. jng for the Northern California eral rpanager.

Newly-elected as chairman distinct of Westinghouse Ap- Walker, formerly controller of the board is Henry Levoff, pliance Sales, has received a and assistant secretary, is ele-1 Luria Bros. San service award for 25 years with vated to the post of vice presi-' Francisco. Also newly-elected his company, dent and controller. Ilsley, in to tne board of directors were The emblem was presented Let's push aside the gloom of Atomic Energy Power Costs Show Gain By ED AM) I.IK HOLLYWOOD. Ha, Dec 6-The tunc when nuclear pawer may become competitive in cost of generating of electricity has been pushed back three to five years, This is the conclusion of the nuclear industry committee of the Investment Hankers As- sociation of America presented before that group's annual convention here.

The report was preparer! by Paul F. Gcnachtc of the Chase Manhattan Hank. A predicted down trend in costs of atomic energy power generating plants has not materialized. Instead there have Convention Closes HOLLYWOOD, Fla Dec 6 lifi The 4fith annual convention of the Investment Bankers Association of America ends today after an eventful week. The work of the 6-day convention concludes with an executive session of the Board of Governors, after which the 1.050 persons attending the meeting will scatter homeward throughout the United States, its possessions and Canada.

been sizable increases, largely because of much greater research and development expenditures than had been expected, the report said Such costs are capitalized and increase the investment per kilowatt of installed capacity. Capital costs of the important nuclear power stations on kilowatt basis have risen as follows: Commonwealth Edison Co. from $250 to $333; Consolidated Edison Co. from $230 to $260; and for Power Reactor Development Co. from $450 to $476.

This indicates that the Commonwealth Edison Co. Dresden Atomic project, of 180.00.kilo-watt capacity, has increased in cost from $45 million to about $60 million. Although higher costs have dimmed optimism toward early assuming his vice presidency, will continue as general manager of Kaiser Steels fabricating division plants at Napa and Fontana. Bernard ipp, soutn san ran-: by Martin b. bauer, racmc cisco Scrap Metals South Coast regional manager of ap-San Francisco; Marvin B.

Fox, pliance sales, at a meeting of Markovits Fox, San Jose; regional distributors, and Clarence Herring, the l.rnpr Pn Oakland Phiiin: San Francisco-Oakland Tele- John I. Hennessy, executive Scheibner, Associated Metals vlslon Inc- has announced the vice president of the Asso-; Co. of California, Oakland, was appointment of Reinhardt Ad-ciated Home Builders of the i reelected to the board of di-. vertising, Inc. to handle adver-Greater East Bay, will be the rectors.

Rising and promotion for tele- I vision station KTVU, the new given to the Stanford School of Education by the Minneapolis Honeywell makers of 1 temperature controls to assist two graduate students In the field of school administration. Dean 1. James Quillen of the school said the funds will aid Conrad Briner, 32, of Tahoe City and Stuart Marshall, 38, of M'iddlebury, Vt. The presentation was made for the firm by Tom McCarthy, San Jose dlrector. Thomas P.

Jenldni Thomas P. Jenkins of 6373 Ascot Drive, Oakland, division superintendent in the 5, East bay division of Pacific Gas and Electric has been appointed division manager of the company's Humboldt Di vision in Eureka. The appointment will become effective Jan. 1, according to S. L.

Sibley, P. G. E. vice president and assistant general manager. Jenkins has been a P.

Ci. employee since 1924. Harold E. Hugo, manager of I San Francisco Bay Area station on Channel 2. An analysis of ship traffic figures forthe past month indicate that the peak month of October was followed by a month of slightly less than average activity, it was announced today by the San Francisco Marine Exchange.

A total of 374 ships called at San Francisco Bay during November, representing a net tonnage of 1,822,603. American vessels totaled 245, while the remaining 129 comprised ships of 19 other nationalities. These figures were exceeded in October of this year by a total of 422 ship arrivals and a net tonnage of 1,985,706. Eldorado Electronics, San Francisco Bay Area manufacturer of nuclear electronic instrumentation, has moved from their Oakland plant to new and larger facilities at 2821 10th Berkeley, according to an announcement by W. K.

Ros-enberry, president of the firm. Harry R. Pinney, first vice president of the California State Association of Life Underwriters and Oakland general agent for the Bankers Life Insurance Co. of Nebraska, is taking part this week in a state-wide convention of his organization at Disneyland, near Anaheim. Holiday Gifts at Woolsey 5.00 and less Neckwear, hose, 1 jewelry, shirts, belts 10.00 and less Sport shirts, caps, pajamas 25.00 and less Imported sweaters, slacks, hats, robes above 25.00 Blazers, Loden coats, sport coats, rain wear, topcoats, I Woolsey Traditional model suits.

I I iwJi i I a i 1 General Motors November Production Tops Year Ago Constrcction Daily said today. The current weekly total is made up $75,807,000 in private construction and in public construction This compared with a total of for the corresponding week in 1956 This brought volume for the 49 weeks of 1957 to 16 per cent below the pace a year ago. Holiday Hits Rail Freight Carloadings WASHINGTON, Dec. 6 i.fi Railroad freight carloadings, which have been on the decline, took a further sharp dip during the Thanksgiving holiday week. I The Association of American Railroads today reported loadings for the week ended Nov.

30 at 553.722 cars, down 79.041 cars or 12' 2 per cent from the previous week. The total was also 198,424 cars, or 28.4 per cent beloov the corresponding week last year, and 170.064 cars, or 23'4 per cent below the corresponding week two years ago. Neither the 1956 nor the 1955 weeks' included the Thanksgiving holiday. Loadings by classifications, with increase or decrease from the previous week and the corresponding week a year ago, follow: I.a.il Week Prev Week S'ear Mie fieiiilit 283 bH l.e.v- llidii i ai lot 42.9BO Coal 111607 Gram and urairi riinduoK .11.444 Western dit 3.1.594 Lne-tork .1663 Western rli-t 4 114 Fnrest products 2') 329 Off 20 .125 Coke 8,786 972 14. 249 18.327 794 176 2.S44 391 1.937 .1.112 2 269 341 4,697 15.044 7 ,790 29,822 3S8 4.145 Wells Fargo Dividend Wells Fargo Bank, San Francisco, has declared the regular quarterly dividend (No.

136) at the rate of cents per share on the $20 par value stock, payable Jan. 2, 1958 to stockholders of record Dec. 18, 1957. Odd Lot Transactions NEW YORK, Dec. 6 iff The New York Stuck Exchange reported today these odd lot transactions by principal dealers for Dec.

5: Purchases 208.509 shares: sales of 133 shares including 1,518 shares sold short. up the 1958 economy is the gest for an unemployed factory mechanic of a househol-' appliance?" Answer: Get into service work. Folks mav have slowed some in buying new- washing machines, TV sets or other household but it doesn't mea i they don't own these things. There's a big demand for experienced help to do repair work. That'll be confirmed by thousands of housewives.

And repair rates arc f-airlv high. West. Dept. Stores Sales Up, Net Off Western Department Stores reports unaudited total sales maintained an m-rease of 12 per cent for the third quarter and also for the fnt nine months of the ea' Unaudited net earnings for the first nine months ended Oct. 31 were $471 657 or 68 cents a share compared to $629,920 or cents a share for the same pel ioJ a year ago.

Nit for the tnud quarter ended Oct 31 was $205,120 or 29 cents a share compared to $271,491 or 39 cent: a share last year. months sa were 521. 195.902 a ear ago Third quarter sales amounted to $10,099,604 against $8,992,284 in 1956. "it's the tops" FIREWOOD Oak-k iudltnt 'F mil -Gum HKESIDK WOOD CO. 45 le-ellm (14.

I t-Jt0 Lore Frvjr mp I -mti1m I I company will forge ahead. the manv and look todav at I some who are more cheery. The gross national product the dollar total of the Nation's output of goods nd services will (limb frm this year's estimated to a whopping in in the opinion of W'. director of market nearrh fur WcM-inghousc Electric. He adds that his own industry should sain, with heavy capital goods showing a moderate increase and appliance sales up 4 per cent.

William C. Carlin, economist for Republic Steel, sees the capital goods industry today in fairly shallow trough be-, tween two enormous waves of expansion. FORD DIVISION The nation can move into 1958 with the bounce of optimism in its slep. says J. ().

Wright, Ford Motor vice president and general manager of its Ford division. He believes 1 the Pentagon, which has been holding back because of an economy wave, will hand out I a flood of new defense orders early in the year. Not to be outdone bv this. Wright's opposite number at General Motors E. N.

Cole, a vice president and general manager of the Chevrolet division says the overall strength and vitality of the. economy should support an "extremely strong automobile market." The aluminum industry, currently with an oversupply of metal on its hands, is also opti-, mistic of the future. Richard S. Reynolds president of Reynolds Metals, says new uses being developed will boost consumption by 1,500,000,000 pounds within the next three years, while increased consumption for existing products will add another 1,000,000,000 pounds to the total. Copper men are a little less gloomy today, too.

Industry spokesmen say the long de-1 fline in prices appears to be flattening out. and they talk hopefully of better sales in the new year. William Bynum 1 president of Carrier Corporation, says that a survey of 4,330 manufacturers by the National Association of Manufacturers (of which he is a director) shows more than one third expecting increased sales next year and 45 percent expecting them to be as good as this year. SPIRT AHEAD The Federal Reserve Bank of New York foresees only mild adjustments during the current business breather before a new-spurt ahead. It expects construction activity to increase and looks for more military spending.

Privately some New York bankers are forecasting a drop early in the year in the interest charges on business loans. They believe that this, along with expectations by many firms that they'll get some fat defense orders, will change the current business thinking from caution and gloom to optimist again and loosen up business spending. On the selling front Glenn Fouche. chairman of the National Sales Executives. admits there are both strong and weak factors in the year-end business situation.

But he says all this can be chaneed. How? Why, of course, by "the mobilization of an army of 1.000.000 young men geared for selling careers All this optimistic talk Docs it make you feel any better now? N.Y. COTTON MARKET NF.W YORK. He f- Cotton bale higher to lose set 45 ifser Dec. ber Merch Mv Ju Ci.

-D-c-- br i i May l.rtd;r.(T 35 90 36 20 35 98 i .14 "fl 3." ss .15 98-99 36 20 36 35 98-99 34 33 sb fi'ib 33 8oh POTATO MARKET CHICAGO. TV shipment M4 track Ida1-" pore3 Idio Nnrth Dakota Red Uac 3 10-3 30 I 8r Mir.r.ota cr Pon SPOT METALS NTW YORK, Drc me tal prices- r.n t- 25 77 rent a po'jnd rf -le. Lead 13 rent a pjnd N- Zinc 10 cent? a poun-l. E-a'f St Loji. Tin 91 cents a pourd New York Foreign siier 90 tr ounce, New York Qnckther, 76-Doifd flask.

$229. New York, i a to i Road Plan Held As Economy Aid Bv LOU SCHNEIDER NEW YORK. Dec. 5 The Administration's optimistic ace-up-the-sleeve play to pep 8 future construction of domes- 1956-legislated federal-state national road-tic power plants, the report buildine nroeram. Trustworthy advices from Washington that the step-up of the defense missile program will not jeopardize the road network construction aid.

The word is the White House considers the high- way project an important Springfield (Mass.) aks: part of the national defense "What action wo Id ou sug- CASH GRAIN CHICAGO. tVc 6 wheat, coin: No. 3 el low 1 lti'i. no oat, ubtiv No 3 ellow 2 28 So bean oil: 1 1 1 soybean meal: 44 Rarlev nominal: malting choice I 02-1 26. feed LOCAL GRAIN GRAIN In carlots pr cwt bulk basis, f.o.b.

tracks at San Francisco. No. 2 Westrrn Bailey testing 44 pounds $2 24 No 2 Wt-slrin Barlpy testing pounds $2 25 -2 271? No. 1 Bright Western Mar-lot testing 46 pounds 2.27-2.30 Medium Malting types 2.40 -2 55 Good and Choice Malting tjpes 2 1)5 No. 1 Hard White Wheat 3.85 No.

1 Soft White VVhi' it 2 Hi Hcaxy Dockage Wheat .1 7u -3 80 No 2 Yellow Corn California 2 60 -2 62' a No. 2 Yellow Corn Cen-tial We-tcini 2 90 -2 92 No 2 Yellow Milo (California! 2 37 40 Nil 2 Yellow Milo iCen-tral We-terni 2.37-2.40 Sample Grade Red Feed Onts 2 20 -2 2S MILLFEEDS: (Bagged per ton. In carlots). Hed wheat bran $41 50 Standard inilliun $46 50-47 00 ALFALFA: (Bagged per ton, In car-lots! delivered Petaluma: U.S. No.

1 $34 00 U.S. No, 2 leafy 32.00-34.00 U.S. No. 2 30.00-32.00 POULTRY AND GAME Federal-State Market New Service Paving Price f.o.b. Eastbay dressed price to re- No.

1 live tailers BROILERS 1 2', lbs FRYERS 2', lbs. and over 20-21 19-a) 27-27': 13-IS 36-40 33-31 38-42 25-29 32-33 CAPONETTES 4'i lbs and over HENS, light tvpe All weights HENS, heavy type All weights Ready-to-cook turkeys: (Fresh or frozen H. heavy tvpe. all wis 44-47 T. hevy type, 16-24 lbs 37V42 24-2H lbs 39-43 26-28 lbs 40-44 Readv -to-cook ducks, all wts.

49-52 SQUABS 12 lbs and over per doz 85 1 DAIRY PRODUCT Market quotations furnished by Federal-State Market News Service, San Flanclsi-o. CHEESE Grade A single daisies, 38-39 'aC. EGGS Wholesale, large 53-54c; medium A. 4S-49c; small A. 40-41C.

Poultry Prod jeers Association of Central California quotations to retail trade. EGGS -If i ge A SS-Sfc-; large A. 4-S7c; medium A. 49-52c; tmall A. 41-44C Storage Egg Futures CHICAGO.

Dec High Low Close Dec. Jan. Sept. Oct. 1IR2 79 175 41 39.40 39 20 42 BO 42.65 38 80 38 38 SO 38 65-60 42 40 42 40 42 45 42 43 SUGAR FUTURES NEW YORK.

Dec. vicar fut'irt No. 6 6 i Domestic closed 3 lower. Mnrch 5 63; May 5 67. World sugar futures Nn 4 c'ord to 6 lowtr Januan 4 05n.

March 3 94 Mh 94h; JuK 3 95. September 3 94b Manh R. i siiuHi spot 2on. ii-Ntiminai. o-Bid CHICAGO FUTURES Dec.

Sales High Low f47 58 1 68 Close "l4! 1 59 1 69 Jan. Feb. Mar. 2W 53 142 1 57 I 64 1 75 CORPORATE REPORTS MORRISON RNl'DSEN for nine montfVs enrlfd Sept 10: 1957 1956 Sel income $3,568 157 $4,234,193 A share $1 74 $2 07 Rill MrKF.E fur tlic mi' month? ended Oc' 31: 19c7 1956 Net iriomr JS30 l'0 A -hare 55 rents 99 cent- WHIRLPOOL CORP. lor the nine orths ended ept iofT 1956 Net income $10.

406. 981 $10 577 328 A -hare $1 61 $1 64 HHITING CORP. for the 12 mo nths ended Oct 31: i9Vi Net mron-e $1 086 890 $722 A 52 83 il GENLRAI. AMERICAN OH CO of Feos for three months ended Sept Net income J2.3S":on S2.114.Si-0 A shsre PKOHT with SAFETY 4 7 current 'a't vs ISSLRtU CALIFORNIA SAVINGS 46 dtry Sn Frncis YU ko 6-3600 ess. ing 24,760 trucks, compared with- 207,663 in 1956, when it built 23.840 trucks.

Of its total 3,081,183 vehicles this year, G.M. said its Canadian factories assembled cars and 26,380 trucks. U.S. plants built 2,525,119 cars and 389,352 trucks and'eoaches. The U.S.

figures to Nov. 30 a year ago were 2,781,541 and 412.710. Chevrolet car assemblies last month totaled 166,311, compared with Ford Division's 145,355 output. CHEVY TRAILS FORD Chevrolet's Nbvember bulge left it still behind Ford for the year to date. Ford division's passenger car output totals 1,395,949, compared with 1,360,689 for Chevrolet.

To Nov. 30, 1956, Ford had built, only 1,217,890 cars, compared with Chevy's 1,481,584. Chrysler produced 91.197 passenger cars and 6,437 trucks last month compared with 97,683 passenger cars and 8.334 trucks in the same month last year. During the first 11 months of this year, Chrysler produced 1,147,639 passenger cars and 71,609 trucks compared with 760,316 passenger cars and 83.724 trucks in the same period a year ago. Chrysler reported Plymouth assemblies last month totaled 48,681 compared with 51.123 in November of 1956.

Plvmouth assemblies for the first 11 months of 1957 totaled 612,994 compared with 398,056 in the same period last year. Why net plaa bow on the CAREER THAT ATTRACTS MANY MEN from other fields? Want the opportunity to make substantial txecutiva tarningt without waiting for promotion? Many energetic young men have made higher annual earnings with us in only two yean than they had expected to achieve in a lifetime of other business or professional employ-merit. True, our standards are high. We do a quality business (in the life insur ance sales field). And maintain a continuina we pro-field oram of trainina and supervision to make this pos sible.

If your standards are high, and you are between 26 and 40 with a college education, phone Mr. Har risen or Mr. Rix, 2-6471. TI said that manufacturers of such equipment still have a bright overseas market. There the costs are already almost competitive with existing ways of generating electricity because of the higher fuel costs.

Permanente Sales Up 32 Pet Permanente Cement Co. reports net sales and operating revenue for the quarter ended Oct. 31. 1957. were $16,439,000.

up 32 per cent from the for the third quarter of 1956. This brought sales and operating revenue for the first nine months of the fiscal year to $42,807,000 compared with $33,766,000 recorded through Oct. 31. 1956. Net earnings fnr hr recent quarter were $2,215,000.

equivalent to 39 cents a share, compared with $1,989,000. and 35 cents a share, earned in the third quarter a year apo. an 11 per cent increase. The nine month? earnings amounted to $5,660,000. or 99 cents a share, compared with $5.884 000.

or $1 03 a share, earned through Oct. 31. 1956. Sheraton Corp. Sells Hotel DETROIT, Dec.

6 UFi Gen-1 eral Motors production of passenger cars and trucks in U.S. and Canadian factories during November showed an increase over the same month a year ago. Ford Motor Co. and Chrysler Corp. production was down somewhat in November com pared with the same month of 1956 but both firms reported big increases for the first 11 months of this year compared with the same period last year, GM's production was off for i the 1 1 months period.

G.M. reported yesterday that its U.S. and Canadian factories produced 356,949 passenger cars and trucks in November, i compared with 340,801 during 1956. i The Ford Motor Co. reported i earlier its U.S.

factories built 1 12.105 fewer vehicles last month than in the correspond- 1 ing month a year ago, although i it now is producing a new line, the Edsel. But for the 11 -month period! ended Nov. 30, Ford reported production of 2,051,905 cars and trucks, compared with 1,760,460 in the same 1956; period. Chrysler November U.S. prodiction totaled 97,634 vehicles compared with 106.017 in November of 1956.

Chrysler's production for the 11-month period ending Nov. 30, however, showed a whopping increase of 375.208 vehicles 1,219.248 in the first 11 months of this year compared with 844,040 in the like 1956 period. OVER-ALL OUTPUT G.M. reported over all U.S. and Canadian production for 11 months this year was off.

compared with the same 1956 months: 3.081,183, against 3.364.007. G.M. said its November production included 318.032 passenger cars and 43.917 trucks. These compared With 299,298 cars and 38.206 trucks in 1956. Ford said it assembled units last month, includ OFFICE SPACE Available March 1st, '58.

5000 sq ft or anv part. Concrete steel reinforced structure, faced with beautiful glazed tile Centrally located garage and sfor-age space Reasonable rent. Htviti Bid; 17th ft Wthttcr OAKLAND Lsui Spn.tr, awncr HI 4-2122; In. Ol lr4n Invitod. program.

Since the highway act became law 17 months ago, construction has begun or been completed on ,576 miles at an estimated cost of 11,409,000,000. Work is now in progress on 1,923 miles of road, and three times that amoun. may be pushed for 1958. Inflationary rising costs ov original estimates may be a road-block for stales to finance their share of the woi But government economists say ways and means will be found to keep tlie work expanding in volume. Lower interest rates on loans mav do it.

0 0 0 The government Ktdrral Mediation and Concikdliun Ser ice is getting ready for a stormy car on labor front. Director Joseph K. Finnegar. 1958 to be hot and heavy. Management and labor leaders aie set, with heels dug in.

not give in Management's stand is' No wage boost will stop price inflation Labor's stand is: More pay to meet hiuh costs of h.int ooo Official spokesmen are preparing individuals and busi-ii( ss (or no tax cuts in 195S and an unbalanced budgit foi the 1958 59 fiscal ear Warning theme: There is no price tag on national security Vic President Nixon is saving so, and so are Army Secretary and Treasury Secretary And. rson. Th- 1958-59 budget will be lareer because of increased defense spndm? increased foreign aid and r.o rit i in I a 1 civilian sp nd.ng. A letter fiom a reader in nl-WW! HWl MJmyt I mM Woolsey Paul LUittut Jamtt Ce 1 1438 Broadway Oakland NEW YORK, Dee 6 Sheraton Corp. of America yesterday sold the famous Sheraton-Astor Hotel on Times Square for around $12 000 000 Webb Knapp and in ex- change acquired an option buy the Ambassador Hotel on' Psrk Ave.

for about The deal uas closed by Ernest Henderson, pn nt of Sht raton. the Nation's second largest hotel chain, ad Wii ham Zi ekendorf, president of Webb Knapp. 'IPtmallldril msfl 1 1.