The Miami News from Miami, Florida • 59

ft 0) mms ra See Story Page 1A DOW JONES CLOSING AVERAGES NYSE CLOSING INDEX 938.541 13.02 or 1.36 per cent Prices up in active trading 30 Indus. 20 Tran. 15 Utils. 65 Stocks 43 cents 61.74 0.62 67.10 0.67 46.45 0.61 40.37 0.27 82.75 1.21 Market Index Industrial Transportation Utility Finance 222.18 1.80 or 0.85 per cent 118.07 -t 1.19 or 1.01 per cent 316.98 3.68 or 1.17 per cent row. Trading was very active and the Dow Jones average of 30 industrials closed up 13.02 points.

The Press NEW YORK Prices rolled higher in the stock market today for the second session in a LATE FINANCE GDC purchases Tennessee tract Combined Miami News Service General Development Corp. today announced the purchase of 13,000 acres in east-central Tennessee for an undisclosed sum. The property is the Miami-based GDC's first purchase outside Florida and marks the second major land acquisition in three months. In August. GDC acquired 31,000 acres in south central Florida for a community to be called Port La-Belle.

The latest purchase is about 90 miles east of Nashville in the Cumberland plateau. This undeveloped land has heavy stands of timber on the slopes, hardwood growth on the upper plateau and pasture land at the bottom. The property had been owned previously by a number of individuals and firms. Frederick Roach, GDC president, said the firm's plans for the land haven't been completed. GDC will take time to study the property and formulate its plans, he added.

1 n't -ir 11 Mrt-inniniTHiMiffiTT-irT -1 PRICE 10c Miami, Wednesday Afternoon, November 1, 1972 Notary seal offense BUSINESS BRIEFS 1 0l Ollll See story on PagelA Nixon: Improved urban life Amex weighs layoffs i 4.v;i mrn 7- nAc ttw, vr' Amex to list Security Plastics The American Stock Exchange has approved for listing 956,666 common shares of the Miami-based Security Plastics Inc. The firm makes a variety of injection-molded nylon ace-tal parts that are used as components in the manufacture of electrical equipment, machinery, doors and other products. Caesars World closes hotel deal Caesars World Inc. and Del E. Webb Corp.

say Caesars World had completed the previously announced acquisition of the Thunderbird hotel and casino in Las Vegass for $13.5 million. Caesars World, which owns Caesars Palace hotel and casino in Las Vegas as well as other resort and leisure properties, has previously stated that it intends to build a new hotel and casino complex on the site of the Thunderbird hotel. However, it expects to continue to operate the Thunderbird hotel until the new project is near completion. Pound rises by more than a cent LONDON The pound sterling jumped more than one U.S. cent early today amid reports the British government was prepared to freeze wages and prices to curb the country's accelerating inflation.

The pound opened on London exchanges at $2.35425, up sharply from yesterday'ss closing $2.3420. Sterling was also strong on the few continental exchanges that were not closed for the All Saints Day holiday. Firm here to cut Four subsidiaries Imperial Industries a Miami-based manufacturer and distributor of building materials, announced today it will discontinue operations of four subsidiaries. They are Architectural Gate-City Hardware distributor of building materials; Hardware Metal Tech fabricator of aluminum awnings, patio umbrellas and related products; Caribbean Metal Plastic and Aleco of Puerto Rico which together manufacture and distribute bi-told closet doors. President Paul Hicks stated that although no agreements have yet been consummated based upon current negotiations, it is estimated that Imperial will realize an extraordinary loss which will not exceed the $400,000 extraordinary gain (net of income tax), which it realized In July 1972 upon the sale of a portion of the class A common stock of Adobe Brick and Supply a subsidiary.

Japan auto exports up 17.1 pet. TOKYO Japan exported 174,381 motor vehicles valued at $304 million in September, up 17.1 pe- cent in number and up 35 per cent in value from a year earlier, the Japan Automobile Manufacturers Association said today. This brought the country's auto export total for the first nine months of 1972 to 1,436,495 vhicles, up 14.7 per cent from a year earlier. Prior to the announcement, the association said member companies had agreed to form a committee to control the growth rate of Japanese auto exports by establishing shipment quotas for each company. Russell Aluminum buys firm Russell Aluminum Corp.

today announced it acquired the business of Almeg Extrusion Corp. of San Juan for an undisclosed amount of cash. Russell Aluminum said previously it has agreed in principle to sell its assets to Anaconda Aluminum Co. for an amount that will net shareholders $10 per share. Almeg Extrusion serves the construction industry in Puerto Rico with a variety of extruded aluminum shapes.

Russell Aluminum is a Miami-based aluminum processor. LATE SPORTS Kuhn fines A's owner $2,500 i iVCrV VJK, ft few "lis 1 4 J) Jff i I -Associated Press Wirepholo Associated Press NEW YORK Low trading volume is causing the American Stock Exchange to consider laying off some of its employes, the exchange's president said today. But Amex officials say they have a program to woo small investors back into the market. Paul Kolton, the exchange president, said current plans call for laying off about 5 per cent of the Amex' 650 employes, but added, "There are contingency plans that could go deeper if volume doesn't pick up," At the New York Stock Exchange, where average trading volume has also been at low levels since April, spokesmen had no immediate comment on whether layoffs were planned. Kolton said he could not reveal details of the American Exchange's plans for attracting small investors back into the market.

One exchange official said the plan was really "a broad-based philosophical approach." He cited the Amex' recent naming of a new board of governors, including 10 public members, as part of the approach. Kolton stressed that the Amex is still operating profitably and expects to continue doing so. A loss of about $43,000 in the third quarter, he said, was "normal" and was slightly smaller than the third-quarter loss suffered in 1971. For the first six months of this year, Kolton said, Amex profits were about $1 million, down only slightly from 1971 levels. While Kolton spoke of a 3 per cent personnel cut, some sources in the industry were saying a 10 or 20 per cent cut might be necessary if trading volume does not pick up soon.

Daily volume on the Amex in the past two months has usually been under 4 million shares, and often under 3 million shares. Analysts say small investors are cautious about committing their money to stocks now, especially since many lost money in the declining market of 1969-1970. Bernard Barker, attorney, before trial Reuters News Service WASHINGTON President Nixon said today his policies to improve urban life had led to better housing and transportation, a drastic cut in crimes and significant progress in cleaning up the environment. The President said in a paid political broadcast that while he was trying to cut excessive government spending, his administration had provided more funds than the previous administration for tackling the problems of cities. The radio speech was the first of three Nixon will be making in a final pitch for support in Tuesday's elections.

Although his personal campaigning has been comparatively low key, the President will be making brief visits to half a dozen states to address political rallies. Nixon challenged Democratic presidential candidate George McGovern's charge that pollution and crime were increasing and that Nixon was not doing enough to stop the decay of the cities. He said that in the Democratic administrations of the 1960s, federal programs for the cities grew bigger and bigger but the problems only grew worse. Nixon to list early donors The Associated Presi WASHINGTON President. Nixon's campaign finance committee agreed In federal court today to disclose the source of funds contributed to the campaign before last March 10.

The consent decree was issued in a suit brought by Common Cause, the self-styled people's lobby, which is seeking disclosure of all Nixon campaign contributions. The order does not cover still unreported contributions given between March 10 and April 7, when the new campaign contribution reporting law went into effect. who is also charged in connection with the brcak-iii at Democratic headquarters in June, was found gu'lty on the notary charge and received a suspended sentence. Bernard Barker, in glasses, is accompanied by his attorney, Henry Rothblatt, as he arrives for his trial on a charge of fraudulent use of a notary seal in cashing a $25,000 GOP campaign check. Barker, Judge lets anti-war activists go to Hanoi on POW mission Atsociattd Press NEW YORK Bowie Kuhn, commissioner of baseball, has fined Charles O.

Finley, owner of the world champion Oakland Athletics, $2,500 for giving increased compensation to two of his players during the World Series. The commissioner said Finley's action violated the baseball rule forbidding incentive payments. Finley announced during the recent series that he was giving catcher Gene Tenace and outfielder Joe Rudi $5,000 each. Mike Hegan, substitute first baseman, also was given $5,000 but since this was related to his regular season performance, Kuhn said there was no violation. crossing interstate lines to incite rioting in Chicago at the time of the Democratic National Convention.

The five and two other defendants were acquitted of charges that they conspired to do so. The five convicted defendants were sentenced by Julius J. Hoffman of U. S. District Court to serve five years in prison and were fined $5,000 each.

They are free pending but his name was included in the petition in the event a last -minute change was made. Hayden said the invitation from Hanoi was received in mid-October. He said, "I don't think anyone should be too optimistic right now." He added that if no prisoners are returned, the trip will "at least clarify the situation for when peace conies." Dellinger, Hayden and three other persons were convicted Feb. 18, 1970 of the trip was to "travel with a delegation of other U. S.

citizens to Hanoi in response to an urgent request from representatives of the Democratic Republic of Vietnam" with regard to matters concerning the release of additional U. S. prisoners of war. Judge Luther Swygrrt. in brief decision granting the request, said the two were authorized to go to Hanoi Nov.

1 and return Nov. 13 "for the purpose of accompanying prisoners of war back to their families." The petition said the delegation would leave Kennedy Airport in New York at 9 p.m. today. Hayden said Dcllinger was not scheduled to go to Hanoi Associated Press CHICAGO Antiwar activists David Dcllinger and Tom Hayden, sayinR they had a request from the North Vietnamese regarding the release of additional U. S.

prisoners of war, were given permission by a judqe today to go to Hanoi until Nov. 13. Dellinger, who accompanied three freed POWs from North Vietnam last month, was not available for comment at once. Hayden', reached in New York, cautioned against optimism. Their petition, which was filed with the 7th U.

S. Circuit Court of Appeals on Monday, said the purpose of TODAY'S DAILY DOUBLE Uruguay devalues peso 4.9 pet. MONTEVIDEO, Uruguay Uruguay ordered today a devaluation of the peso by 4.98 per cent. This was the eighth devaluation by President Juan Bordabcrry's government in eight months. and 1,500, cl, mdn 1VO.

a I. Purple Fan (Gomez) 5 0 3.40 2.60 Nation's Heir (Noble) 3.60 2.60 Wig (Pernicole) 3.40 OH 1:46. Time 1:15. Mighty Size, Ik A Champ, Prince Adam, A Runner, Sam Pepys. Midas Touch, Nir Rea, Basilon, Capouse also ran.

(Daily Double f-l paid slS.OO) (Pertecti paid 11 M0) The Amex is particularly hard hit by the trend, since according to a spokesman 7 per cent of its volume consists of transactions by individuals. (WMthtr Clear. Track Fill.) 1st I.S00, cl, 1YO a f. I Pec To Pet (Garcia) 4.10 3.00 J. 20 Happy Relation (Noble) 3.40 2.60 Herr Ooktor (Comet) 3.40 Off 1:11.

Time Shut Tight, Gimmick, Johnny Banes, Encanto Gent, Halvek, Dayait II, Carol-; ten. Classic Gam also ran. I I 1.