Tampa Bay Times from St. Petersburg, Florida • 31

FOOD FAIR TO PANTRY PRIDE liked 1 i 1 1 i St. yrlcmbur0 OJimra Wednesday, August 7, 1963 BUSINESS NEWS Cfn f'ffijfz 1 'A i Business: I I. -A 7-B By Goodyear 4 Stores To Start Discount Operation New Industry 'J I I i 'A I Si fS 885 I Sales i I and I Earnings 8j per will be now stores and the balance conversions of existing per cent of those new operations will be in a general merchandise discount store. Experts in the grocery field say the discount supermarket is the biggest innovation in the food industry in years. It is rugged competition find they are not at all Certain they can live with it.

But it is here and they have to deal with it. a trade association of the industry, in a recent poll discovered that 16 per cent of its membership already operate discount grocery facilities. Those discount operations account for 10 per cent of SMI member outlets. Twelve per cent of the SMI members plan to open discount grocery stores this year. Expansion plans call for a new discount unit for every four stores now in operation.

Of these new discount units, PATRICK TALBOT president. Will Employ Statf Of 50 By I)() TEVERBAUGII Of The Times Staff Smiths Industries a subsidiary of a London-based aircraft instruments firm, announced yesterday that it would build an 18,000 square foot plant employing about 50 people on an 8-acre tract it has leased from Pinellas County adjacent to the St. Petersburg Clearwater International Airport. The firm also has an option on an additional 8-acre adjoining parcel. Both sites are on the west side of Roosevelt Boulevard about 800 feet south of the main entrance to the airport.

THE NEW FACILITY, expected to be ready early next spring, will accomodate administration, marketing, technical support and warehousing facilities, said Anthony I. O. Davies, executive vice president of 85,562,598 84,886,226 Co. lor six months $6,038,43 6 5,791,489 Sales W. E.

Heller ended June 30: Net Income A Share 60 cents 57 cents Leaseway Transportation Corp for six if i 111 I 'f I ml AKRON, Ohio ID Goodyear Tire and Rubber Co. directors yesterday increased the quarterly dividend on common stock to 37 cents per share from the former rate of 33 cents per share. The new dividend provides an annual rate of $1.50 per shar, compared with the former rate of $1.35 per share. Payable Sept. 16 to shareholders of record Aug.

20, it is the fourth increase in five years. Goodyear reported record sales and earnings for the first six months this year. Net income totaled $68,052,000, equal to $1.89 a share, compared to or $1.68 a share, for the first half of 1967. Sales this year totaled through the first six months, a 9.4 per cent gain over the $1,288,787,000 for the corresponding period of last year. Mid-Continent Telephone Corp.

for year tnded Jun 30: 1968 1967 Ntt Income $4,967,738 4,268,544 A Share 1 05 90 cents SalM 40,747,499 35,893,418 Simon and Schuster Inc. for six months ended June 30: Net Income $386,000 190,000 A Share 10.55 cents 4.9 cents Sales 16,276,000 14,021,000 Groller Inc. for six months ended June 30: Net Income $3,416,693 4,834,594 A Share Sarasota Area Is 'Metropolis' To Ad Buyers Sarasota has just been named a metropolitan area and elevated among Florida's top market ANTHONY DAVIES executive vice president. THE DISCOUNTER has to carefully study his operation, balancing off all of the thousands of items handled by the store and the profit margin of each. The discounter cuts his overhead to the bone, gets rid of all frills, games, stamps and some services.

The only path to volume is price, he feels. But it is price on quality items, name brands not just on private labels. And that makes the difference, apparently. The swing is on. It will get bigger.

Why? Because the big food merchants, those with sales topping $100-m i 1 1 i annually, are moving into the general merchandise discount stores as well one of every three of the big operators now have such stores, according to the SMI survey. FOOD FAIR operates 5G0 super markets in its chain about 100 of them in the southern half of Florida plus 60 J. M. Fields department stores. In the past year, the chain converted 58 of the super markets, on a selected basis, to a discount operation.

The firm's annual report stresses that growing consumer preference for price in the super markets has accelerated Food Fair's conversion program. It has paid off in both higher volume and profits, company officials say. To most Suncoast residents, the discount supermarket is going to be a new experience, although there are several Pantry Pride stores in Tampa and one near Fort Myers. BUT THE discount grocery is not new nationally. It has swelled to huge proportions on the nation's west coast and in New England, particularly.

The Super Market Institute, By DON TEYERBAI GH Of The Times Staff The wave which has been rumbling through the grocery industry for the past several years is about to hit St. Petersburg. The wave, of course, is the discount super market. Food Fair Properties which operates 27 super markets on the Suncoast 10 in Pinellas County lias started a selective conversion of these stores into discount operations. It means lower food prices for the area.

FOUR STORES in St. Petersburg will be converted this month. They are at 3131 Fourth St. and 5501 49th St. which will close Saturday and reopen the following Wednesday; and the stores at 2000 Tyrone Blvd.

and 2400 31st St. which will close Aug. 17 and reopen Aug. 21. All will be switched over to the Pantry Pride stores and also scheduled for the Sunshine Mall in Clearwater and Food Fair's new shopping center west of 66th Street North and south of 22nd Avenue.

How does a discount super market operate? The secret is volume. These merchants know that if they can triple their business volume, they can shade prices substantially and get along on a lower profit expenses ratio. They will to aim at a level about 5 per cent under the usual super market price level. It is a question of averaging out on the variety of products they sell. Some items, such as cosmetics, convenience or frozen foods, normally carry substantially higher markups.

They help carry the food items and with lower margins of profit. monins ended June 30: Net Income $2,881,000 1,515,000 A Share 76 cents 40 cenls Revenues 108,426,000 90,405,000 Halliburton Co. for six months ended June 30: Net Incomi $18,626,962 16,157,761 A Share 2.19 1.91 Revenues 362,086,830 325,696,516 Jamaica Water and Utilities Inc. for three months ended June 30: Net Income $204,941 206,917 A Share 53 cents 35 cents Revenues 3,300,658 2,134,332 Vogt Manufacturing Corp. for six months ended June 30: Net Income $150,972 A Share 69 cents Sales 3,590,531 2,824,919 x-Loss Flying Tiger Line for six months ended June 30: 1968 1967 Net Income 4,003,625 A Share 88 cents Revenues 34,913,572 44,000,839 x-loss El Paso Natural Gat Co.

for six months ended June 30: Net Income $18,569,000 21,030,000 A Share 62 cents 80 cents Revenues 412,496,000 303,795,000 Cook Electric Co. for 12 months ended June 30: Net Income $981,460 1,705,936 A Share 57 cents 1.03 Sales 16,621,486 19,704,493 Eastern Air Devices Inc. for 6 months ended June 30; Net Earnings $313,000 165,000 A Share 1 30 cents 16 cents Revenues 6,800,000 3,200,000 Mesta Machine Co. for 6 months ended airbus projects. The Pinellas installation will be the main product support base for equipment supplied to these new aircraft when they enter service, says North American Limited, the division under which Smiths Industries operates.

North American Ltd. also will maintain division headquarters at the new facility. The parent WOULD YOU BUY YOUR PRESENT STOCKS AT TODAY'S PRICES? If you feel that any security you now hold is priced too high to purchase at today's levels, you may want to consider selling and perhaps looking into another investment that may possibly represent better potential. Before reaching a decision, we suggest that you get the opinion of our Research Department. They will be happy to review your holdings and suggest investments which appear suitable for your own personal objective.

Simply use the coupon below. There's no obligation, of course. Davies. Since 1967, Smiths and Honey firm is Smiths Industries well Inc. have been collaborat London.

ing in design and development About 20 of the firm's staff of automatic flight control sys terns for commercial transport will be moved here from the Toronto, operation. aircraft. June 30: The parent firm has more Smiths has been negotiating $31,088,402 328,000 1.10 33 cents 25,336,775 35,245,000 Inc. for 6 months with Pinellas County for the than 20 plants in England and employs more than 25,000 work Net Earnings A Share Sales Helme Products ended June 30: Net Income A Share acreage for the past two years; said Talbot. In about two weeks Sa'es he expects to name a contractor Executom Inc, $1,814,500 2,114,200 94 cents 1.02 37,377,500 37,160,800 for six months ended $206,099 193,773 46 cents 45 cents 5,362,920 4,837,926 for the plant.

June 30: Net lncom A Share iMMMMIfiamHiMHIMBiailiHM The local plant will overhaul ales for six months Handy and Herman ers. It has subsidiaries in Canada, Australia, Germany and France. Its current sales volume tops $140-million annually. Founded in 1851, Smiths Industries Ltd. produces more than 3,500 products for automobiles, space, marine, medical, industrial, appliance control, building and watchmaking.

and service many components in aircraft instrumentation sys ended June 30: 1968 197 tems. One of the firm's reasons Net Income $1,726,000 1,883,000 A Share 85 cents 94 cents Sales 100,207,000 90,051,000 for expanding its U.S. opera Pike Corp, of America for six months ended June 30: Net Incomt A Share $1,831,000 1,787,000 50 cents 49 cents 33,895,000 30,635,000 for six months ended tions is to gear itself for the faster service U.S. airlines demand of suppliers, he said. THE riRM also was considering moving its Toronto air Its aviation division, with Sales Harsct Corp.

5,000 employes, has been a pi June 30: Net Income A Shar $7,996,408 8,178,109 1.04 1.07 129,075,658 103,223,473 oneer in aircraft instrumentation and today does 70 per cent Sales ESTABLISHED 1887 Members New York Stock Exchange and Other Principal Exchanget 568 CENTRAL AVE. Phone 898-9781 St. Petersburg, Florida I am interested in having my investment portfolio reviewed. Whit Consolidated Industries, for craft operation to Lake Success, N.Y., but found that many of its places by Standard Rate and Data Services Skokie, 111. Standard Rate and Data provides advertising buyers with market statistics for all major urban metropolitan complexes.

The service lists Sarasota's population as 41,800 and its annual retail sales at $135,549,000. Sarasota County population is listed at 101,600 and its annual sales at $209,183,000. Pinellas County, according to the firm, has a population of 463,700 and annual retail sales of $703,490,000, according to Standard Rate and Data. Now 277th among the nation's metro centers, Sarasota ranks 234th in population, 206th in households 103rd in retail sales per household 222nd in consumer spendable income 253rd in spendable income per household ($7,304) and 201th in total retail sales. Sarasota's rating of 103rd in in y) 4o of its business in the international air transport market.

Smiths Industries Inc. sales in North America have doubled in key personnel were willing to relocate in Florida, but not in six months ended June 30: 196 1967 Net Incom $12,616,609 10,554,201 A Share 2.23 1.82 Sales 327,675,334 204,066,749 Executon Inc. for six months ended June 30: Net Incom $206,099 193,773 A Share 46 cents 45 cents iales 5,362,920 4,837,926 Okonit Co. for six months ended June 30: 1968 1967 Name the last 18 months and every Address New York. Under the land option, the county will receive $11,987 annually for the acreage on which the plant is built and $2,090 annually for the adjacent 8-acres under option until 1970, or until the option is exercised by the firm.

I City State Zip I Telephone major U.S. airline, plus more than 2,000 U.S. registered aircraft abroad fly with Smiths equipment, says Patrick E. A. Talbot, vice president.

SIX MONTH SAVINGS CERTIFICATES Now Is the time to invest In six month savings certificates and earn a b-g 514Qc annual rate no higher rate on certificates anywhere in the area! $5,000 minimum investment. Act today. A limited time offerl amm Jfebeml ikbmgs and Loan Association Downtown Tampa, corner of Florida Avenue and Madison, one block from the bus station P. O. Box 2231.

Tampa. Florida 33601 Phone: 229-6491 Net Income $4,406,000 5,078,000 A Shar 98 cents 1.14 Sales 96,442,000 54,006,000 Kaweckl Cliemlcal Co. for six months ended June 30: Net Income $588,100 886,800 A Share 43 cents 70 cents CURRENT major customers Sales 14,653,600 13,520,000 include Boeing, McDonnell Douglas and Sperry Flight Sys terns Division. Mid-Continent Telephone Corp, for year ended June 30: 1968 1967 Net Incom $4,967,738 4,268,544 A Share 1 .05 90 cents Smiths Industries Inc. curren At this time, the only job applications being accepted by the firm are for bookkeeping and clerical personnel.

Those interested should apply at the Pinellas County Industry Council at the airport. Revenues 40,747,499 35,893,418 Edo Corp. for six months ended June i tly is bidding at Lockheed, Rolls -v, Royce and McDonnell-Douglas 30: Net Incom $765,000 564,000 A Shar 80 cents 65 cents for work in the new generation Sales 18,010,000 16,384,000 retail sales per household tops 1 such cities as Miami, Cleveland, Baton Rouge, Kansas City, Houston, Louisville, St. Louis, San Francisco-Oakland and Daytona Beach. Government Denies Chief Witness Lied An attainment in gracious floiida What! You still don't own any mutual funds? Curtis Mcrkd, President Chase Investment Services INCORPORATED OFFERS YOU A FREE PROSPECTUS ON ANY OF THE FOLLOWING FUNDS without obligation, of course! FILL IN THE NUMBERS IN THE COUPON PROVIDED I MAIL por: be eair-';" NEW YORK (UPI) The government defended its chief witness, Alexander Rittmaster, yesterday at the trial of finan cier Louis E.

Wolfson and three co-defendants, denying that he vi a -I 1 I A 1 iJfi li I iii i ti iii iii imtm I is a liar and describing him as a "window" that clearly re $22,500 to $75,000 vealed a financial conspiracy, "models ojx'n 7 days a week Luxury garden condominium residences Both sides summed up their cases late yesterday. It goes to the iury today. Rittmaster had been de POlt II lis 3 scribed Monday in defense attorney Frank Raichle's summation as a man with a "sick and twisted mind" whose "lying proclivities" should be obvious to the Federal Court jury. Rittmaster, financial adviser to Wolfson for 16 years, pleaded guilty to the conspiracy charge and turned government witness. 1 16.

Investment Co. Of America 17. Ivy Fund 18. Keystone S-4 19. Madison Fund 20.

Mass. Inv. Growth Stock Fund 21. Mass. Inv.

Trust 22. Massachusetts Fund 23. National Investors Corporation 24. Price IRowe) New Horizons 25. Puritan Fund 26.

The Putnam Fund 27. Scudder Special Fund 23. Value Line Income Fund 29. Washington Mutual Investors 30. Wellington Fund The Chase Fund Of Boston Shareholder's Trust Of Boston Affiliated Fund American Mutual Fund Axe-Houghton Funds Axe Science Corporation Colonial Fund The Dreyfus Fund Eaton I Howard Stock Fund Enterprise Fund Fletcher Fund Fidelity Fund Fidelity Capital Fund Fidelity Trend Fund Fundamental Investors, Inc.

-1 7 't x. jl3 Fast Bay Drive CD 5 IT IS WISE TO CHOOSE R. TOM QUPHAII AS YOUR ADVISOR In choosing your advisor In any given field, it is always wise ts consult the proven successful men in that profession. R. Tom Chapman is ranked as one of the top life insurance men, not only in the Massachusetts Mutual, but in the entire industry.

Tom achieved this recognition by placing more than $1,000,009 of individual life insurance in 1967, and according to the latest report for 1968, Tom ranks among the top 100 producers out of a total of ever 2,200 in his Company. Tom is knowledgeable in all phases of the life insurance business, including business insurance, estate analysis, and pensions; but mora important, Tom has a sincere interest in his clients, and in the welfare of his client's family and business. Contart Tom at: Suite 211 The 300 St. P. FL.ri.la 300 31st Street North Telephone: 806-81T3 The riglit life inuirnncf ascnt ynur best assurance.

And the right lije insurance aaent is a Cnnlurll Aforint JAMES II. mm ASSOCIATES Fund A. Inc. 'V WW CHASE INVESTMENT SERVICES, Inc. 220 Beach Drive N.E.

St. Petersburg, Fla. Gentlemen: Please send me a prospectus on the numbers I have listed. accommodations. Beautifully-styled two bedroom two bath residences and custom designed penthouse are awaiting you at Port Belleair.

Every feature of luxurious living has been incorporated into Port Belleair private club facilities, reserved under-the-building garages, professional maintenance service, and a patrolled gatehouse entrance all enhanced by exquisitely landscaped gardens and elegant fountains. Come discover the Caribbean charm and grace of regal Port Belleair, high atop the Bluffs of Belleair overlooking sparkling Clearwater Bay. Model apartment, designed by Mardi Deranian A.I.D. Open daily and Sunday. PORT BELLEAIR 3100 W.

Bay Drive, Belleoir Bluffs, Florida, PH. 584 2111 117tb Constcntivi Quarterly Payment A second quarterly dividend of 5 cents a share from investment income was declared on July 30. Suite 1 Tt'O, Exi'liunjie Natiint.il Bank Building Funds: YOUR NAME ADDRESS CITY STATE 223-1311 610 N. Florida Ave. It will be paid August 23 to share- MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY PWlNaFIILD, MSCMUSCTTi.

00Ni0 IM1 holders of record August 2. Axr-noutflilon Fund Inr, iWllfHM tor investment CQ? A6 opportunities and franchise operations is in today's Classified Section. lj chllLli.