The Journal Times from Racine, Wisconsin • 21

trj Journal Tlnr, Wdndr. Ot. T. Rack, ays AMC's loan-crediS miegodDatioinis negotiation now are expected to be completed Mmetlme next month. The Wall Street Journal quoted Lawrle as saying the delay Is not significant.

"It Just took longer to get It all together," he said. The smallest of the U.S. automakers has lost $74 million In Its last two fiscal years because of a severe slide In car sales. The firm has blamed Its slump on weakness In the small-car market, Its specialty. AMC conducting negotiations on three separate borrowings, and each financing Is tied to the other two, according to Lawlre.

"It's like a three-legged stool. It took longer to put the legs on than we'd thought," he was quoted as saying. The first transaction Involves renewal of $37.0 million ln outstanding short-term borrowings from a group of U.S. banks. Normal-ly the agreement Is renegotiated every year In December, However, this time the banks granted only a temporary extension pending completion of other financing arrangements.

The second part Is a refinancing of $205 million of 6 per cent notes held by a Swiss bank and due Feb. 28. The third part Involves revising terms of a 90-day revolving credit agreement under which AMC may borrow up to $50 million. The firm, which already has borrowed $25 million under that arrangement, said It wants to convert the note to I term loan due In 1963. The warning by AMC'i auditors.

Touche Ross came In a qualifying statement attached to the annual report certifying the audit. The report was released last week. Company officials have predicted Improved results for fiscal 1977. Chairman Roy D. Chapln Jr, said AMC would be near the break-even point for the October-December quarter.

In the previous three-month period, the firm lost a record $51.1 million. ffiL ln tor I1M million in horMerm loan. tnd credlt renew thli month, 0n h' hP 'he Independent Bud- JL' 6.borrowln8s alon "re 10 AMC i ability to slay In buslnesi. AMC Comptroller Roy T. Lawrle said the del News briefs Menswear store moving m2f meMwe" "ore at 211 6th St will lounge called Grog 'n Togs opened Dec.

10 on the first floor. Joseph i Lamer, of 2923 Webster owner of both business-es, said he will transfer George Lester's to the new address the end of January. bulldln at 306 6tn from Anthony i Totero 3050 Ruby Ave. Long vacant, the place once house a cocktail lounge called the Chateau and later one called the 306 ClUD. -4 i ii in.

Hv r- iinmigmn mmiinfti-iraB Trj- wswwai.aiiiMii lim.ifiWi ffimum mi mi Hi warn M.asi..LisuiiuiJmjijijiu Work on store begins Site preparation work ha. begun at 4920 Washington Ave. for construction of a Firestone Tire 1 Rubber Co. retail A long-vacant gas station ort the site has been torn Firestone will own and operate the business leasing the-. tend and building from Elmer C.

Petersen, 4123 Washington Michael Papl, manager of the Firestone store at 1122 N. Main said the Washington Avenue outlet will be similar to the Main Street operation, selling tires, batteries and acces-' sorles and doing engine tuneup, brake, shock absorber and wheel alignment work. But It will not do heavy commercial, work, such as servlc- Ing truck fleets, as the Main Street store does. Politics heats flights issue WASHINGTON (AP) President-elect Carter will have to decide whether to allow 11 more cities, Including the capitol of the state be once served as governor, and two mors airlines to have a piece of the transatlantic air traffic. The Ford administration vetoed Tuesday a Civil Aeronautics Board plan that would have spread the traffic around.

President Ford said the plan "raised foreign policy Issues that must be negotiated between governments." Some Georgia officials charged political revenge and discrimination against the South prompted Ford to reject plana giving the South direct air service to Europe. A White House spokesman said the charges were "totally without merit." He said the staff recommendation to return the plan to the CAB for more study was made In November, but action was delayed until Tuesday to avoid any appearance of political retaliation. The CAB proposal was released last July. Cities that would have been granted new foreign flight service were: Atlanta; Cleveland; Dallas-Ft. Worth; Denver; Houston; Kansas City, Miami; Mlnneapolis-St.

Paul; New Orleans; Pittsburgh; St. Louis; and Tampa, Fla. In the case of Miami, a connection with Madrid would have been added to the service the Florida city already has with London. The other 11 cities would have gotten direct scheduled flights to Europe for the first time. The CAB plan would also have given Delta and Northwest Airlines their first transatlantic routes.

The CAB action was seen at the time as a major effort to introduce more competition into the European flight business. Ford said he supported that goal. But he said the administration also recognized that "the views of other nations may differ and that our policies must be modified ln some instances to reach necessary International accomodation." Most European nations have one subsidized international airline which flies to and from a limited number of cities. Those nations were already dissatisfied with the number of originating cities and airlines the United States wanted them to accomodate In return for allowing their planes to fly here. Ford said the CAB had not given enough consideration to their wishes, or to the economic Impact of the proposal on the existing American international airlines.

He directed the CAB to come up with a new recommendation next September. That will leave the problem In Carter's hands, since Ford leaves office in January. "We really feel it's a slap at the South because the South rebuffed him so unanimously in the election," Georgia Oov. George Busbee said of Ford's decision. Atlanta Mayor Maynard Jackson called the decision "politically motivated" because Ford was beaten by a Georgian Nov.

2. Chrysler engineers use this Auto Roller to minutes after impact. The crashed vehicle etest fuel systems for leakage after a roll- lnen pm on tne Auto Roller and rotated over trash. Followlna a Sa.mi1n Im irtch Ml desrees. Federal law allows no mnr i Power demand pace to ease Leakag tester engineers measure the amount of fuel leak- than 1 ounces of leakage during each 90-de-age.

The law allows an ounce of leakage on Rree rotation. The roll-over law went Into impact and not more than five ounces five 'or 1978 model cars. Large vehicle emissions eyed Milwaukee-based Wisconsin Electric Power Co. said a new load forecast Indicates electricity demand Into the early J980s Is expected to Increase slower than previously forecast. By 1990, however, demand will be higher than previous estimate, because of greater dependence on electrical energy due to anticipated natural gas shortages, the forecast Shows.

ln addition, the forecast Indicates that starting In the mid i to late 1980s, Wisconsin Electric's annual peak demand will occur In winter rather than summer because of greater use of electricity for heating, the utility said. Wisconsin Electric said growth in electrical demand was lower than expected in 1978 because of the "generally slug-. gish" economy In southeastern Wisconsin. Hardware store being built Douglas Hardware Supply Co. has begun construction of a new store building back of Its existing store at 2030 Douglas LeRoy A.

Seegef, who owns the business, said the existing store will be torn down to provide on-site parking for about 40 when the new building Is completed. The new building will have. 18,700 square feet of floor space, versus about 6,000 Id the existing store, Seeger said. lars to the cost of trucks under 6,000 pounds in 1979, but may increase the price tag of the class by some $219 per vehicle. The agency said the 1979 standards should not reduce the mileage performance or Increase maintenance costs.

EPA said expanding the category for light duty trucks "will result In a more realistic grouping of similar vehicles capable of achieving equivalent levels of control." ry which have previously been classed as heavy trucks. As such, they have had to meet easier antipollution standards. The standards for light trucks allow roughly half the pollutants allowed for heavy trucks. The 1979-model light truck standards are about 15 per cent lower than the current ones, meaning that the reclassified vehicles wilt have to drastically reduce their emissions. The EPA said meeting the new standards should add Only about $8 dol WASHINGTON (AP) The Environmental Protection Agency's antipollution team has turned its attention to trucks, vans, motor homes and other vehicles ranging In weight from 6,000 tc 8,500 pounds.

Starting with the 1979 models, that class will be grouped with lighter trucks and required to meet tougher standards for emission of pollutants, the EPA announced Tuesday. EPA said there are more than 700,000 vehicles' In the pound catego- At Fontainebleau ajir, ,1 aj I t) i aaaaaayabaaav i a ij 4 mmf PSC approves gas rates Hotel's StWiVefS 1401 Washington Opoen New Year's Eve to 9 Open All Day Jan. lit ALL SALES CASH CARRY back to work Celebrate the New Year with these Fabulous SEAGRAM'S 7-Crown Of A GREAT! California Champagne or Cold Duck day Issued an order that will shave about 1 per cent off recent natural gas rate Increases of residential customers of the Wisconsin Gas Co. The utility serves about 380,000 customers In Milwaukee County and other counties in southeastern Wisconsin1. About 360,000 are residential customers.

The same PSC order Tuesday increased rates for very large Industrial and commercial customers by about 27 per cent. Many Industrial and commercial customers, however, were given Increases of about 6 per cent to 14 per cent. The residential rate reduction will not be large enough to offset the approximately 12 pef cent Increase caused by federally approved rate increases given gas producers In Interstate pipelines earlier this year, the PSC said 4 millionth patent awarded WASHINGTON (AP) A system to recycle asphalt and aggregate composition materials has become the nation's Patent No. 4,000,000. The four-millionth patent was awarded Tuesday to Robert L.

Mendenhall of Las Vegas, as Patent Commissioner C. Marshall Dann said, "We are witnesses to a significant, historic occasion, happily coinciding with America's Bicentennial year." Dann said the landmark patent "is evidence of the continuing vigor of our patent system, which hs been so effective as a force ln establishing new Industries and in making available new and Improved products." $5 19 QT. 3 FOR $1 98 I fifth fifth SCX rCS $10.53 w3 MIAMI BEACH, Fla. (AP) Workers at the Fontainebleau, largest of Miami Beach's plush hotels, obeyed a court order and returned to bed-making, food-serving and other duties today. But picket lines remained in front of six other large hotels hit by a five-day-old strike that has forced high-paying guests to carry their own luggage and clean their own rooms.

Some guests have left In anger, checking out In favor of smaller motels or hotels here or ln other Florida cities. Federal mediators, meanwhile, are meeting with negotiators for the union and the Southern Florida Hotel and Motel Association. A spokesman for the striking maids, waiters, bellhops and laundry workers said that Tuesday's negotiation session the first since the strike began Saturday resulted in no new contract offers from management. The walkout was started against selected hotels Christmas Day by the Hotel, Motel and Restaurant Employes Union, Local 355. Its 11,000 members had been working without a contract since September.

The Fontainebleu became a special case Tuesday when Dade County Circuit Judge Francis J. Christie granted a request by the hotel that the local be held to an interim agreement pending a new contract. The Fontainebleu, with 1,200 rooms, is the only hotel hit by the strike to have such an agreement. It calls for grievances to be submitted to binding arbitration until a new labor pact is signed. Under the old contract, maids are paid 16 a day, plus tips, while bellhops get about $10 a day, plus tips.

Walters and waitresses earn $12.79 a day and 13 per cent of the cost of the food they serve. The union Is after a three-year contract with an Immediate wage increase of 11 to 12 per cent, an additional 9 to 10 per cent the second year and an unspecified hike In the third. Besides the Fontainebleau, the strike Is affecting the Eden Roc, Carillon, Deauvllle, Doral Beach, Doral Country Club and the Sheiborne. All are on Miami Beach except the Doral Country Club, which Is northwest of Miami. CALIFORNIA BRANDY CONSULATE Imported Scotch 1 2 years old 86 proof $C98 QT.

at Timers Local Interest Silver; gold futures (CwrlMr Unlit OH $099 Oqt. HlfKUw Utt FAMOUS BRAND IILVf CMcant Ml4 Amtrlct I.WI tvnem FtOnMrt 4.j0c ptr trot tunc April 44.50c Jun 44.Mci Auauit 45i.JKl Octobtf 4M.MC. Eltl-imM UWi: cantrKtt. COLD Cftkao MM Amtrlc -i tilt Jtmtnr Ill4.lt mr 1ry mik. Mtrcft 1M H( mi ilM.M.

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i it SM V' llMi t3' n1 nt 144 141-J ii ji ....44 44 44t Mt 14 1H Jl' fl'1 Ktrtctrl Ut Mtiuy MOIC NC '4 NC II -'H NC '4 NC NC NC Foreign Exchange (Ouotttl Mi AmtrlcM ctntt) Otc.n Ptc. Tr. Ut.30 17474 .71 170.M 174.74 M.tl .71 J. 71 17 31 totf lot. Sctilltt Irtwlflf Vulctn Wtittnt Willi Wli sve nflltm) Dt.ttnti ClM4t Argentina Auitrla tiim Braill Ptrnnart IMPORTED RIUNITE Lambrusco 3 FIFTHS $00 IMPORTED Little Rhine Bear Leibfraumilch 3 FIFTHS $00 N.I7 Franc W.

Otrnwny 41.41 701.44 107.45 tl.M 1.71 $41 154 11.04 14. IS 114) MM tin h.ts .14 105 II 95 l.M 1174 M.I1 Nttlan4l Over the counter IMPORTED CASHEWS Fresh Just Arrived I. 7 i.i4 17.77 41 4t4S II. 13 .11 ot ifn 4t.l Ml Half ia Mtik Ntroay Frttl 41.44 II. .11 VM lt.lt 1.17 I 44 I4N aw M' J', 4 III 4' i Snaa On Totlt HaR lit Sttwm Mt.

Tm VtrtaTtcD Pm Livestock Grain futures MILWAUKEE ef- CMICAOO (AP) Futijrt! tradlna on IK marktt ckd wa ta 1.00 fmti the Chicaao Board at Tradt Timday: oood choict itatr 34.OO-34.00f 9006 ft V1" ihiTct bailor. 34.00-3t.00; oood Dol.taW WHEAT IS.OOO bu) tten 31.00-34.10; tTtow flood Mar 1.40 1.74 140 Maori and holton 75.00-1 00, dairy fci? Way 1.15 1.11 1 1J5M art N.ot-lt.OO; utility com 15.00-Jl.llt; cannon and eutton Oo-M JOi com- J1 J-JJ (norcW bum H.to-ll.tO; cnma 14.00- 0 nM CORN IS.OOO oul Calm: twiday'l marko closed M- fa' fj'1 ly ilo.dy, chalet ealwt S4.0t-7S.ll0i May l-Jl" ood ll.H-45.40i lodr bull catvoi 54.4., hf Mt tat 34 4. ZZZl.iZ Hoot: Tutidayi rb chnod ak 0ATS Molowor, lhtoiorrt butchon Maf 14.54; hoay butchon 31.04-15.40; llohl .17 .15 .47 toot 90-7 00, hoaT Mt J' 1 I 1 tj boon not am. EitlmatH rtcttaH Ht tttton 7H Ok iXiiiiilVii. tai cam.

5to cairn, lot hoas, 54 into. 7 01 7.0J 7.11'i FPfft 7 tt'i 4 7 04 OS' Jul 7O0'l 4.41'J 7.M CHICAGO (AFI Mid to jrle '-E'' MS rtowrt-wkoloult boylna arktl Too. 2 f-g, day: Clau I loroo 17i Clou MOrfO modrnt 44; imalli 57; nojt-run trtab. l' I kit Itoct 55; cntcbt 4t. tM 1 Sollitrlanl 99 Mutual Fundi 12 0Z.

BAG AHIIlattt Airfii Fund Tarty Suppliis Tlatfic cre CrrrtS AU i'L MIS IS 11.14 i Gold quotes ll InoiKri Mtul Invoitarl itmdi 4.77 7.1J I Invtittn VarlaW ay ita'y snacus ycus faty $to? m.tciyz jTmm MaHKtnrwm in. ir. n.ti Ttf tM irtnt lr I Mian Mr troy aunct Lmtn ttrnan II i-ina, cw4i HrH, tlttniaM marWt OiMtatlan. 1111 aXra MHi Frn-fvrl, Hilna, IU 14.54; lurlrt, ki, Maillti Htm Ytra, IIMt, 11.71. N.L.

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