The Journal Times from Racine, Wisconsin • 17

CanmadDami Dymbeir prices omicireaise 11 5 charge Canadian lumber companies for higher duties on Canadian lumber than 15 percent. Canadian negotiators had agreed to the 15 percent level several weeks ago, but the talks had bogged down on details of how that fee would be collected and how long itg would remain in place. The timber controversy came amid efforts by the two nations to negotiate a far-reaching "free trade" pact that over time would eliminate most trade restrictions. Canada and the United States are each other's most important trading partners, with two-way trade last year surpassing $120 billion. settlement.

That agreement was reached shortly before midnight, following marathon negotiations between the two sides. U.S. homebuilders have said that a 15 percent increase in the cost of Canadian lumber could increase the price of the typical U.S. home by as much as $1,000. Last year, Canadian softwood lumber imports totaled $3 billion, accounting for about 32 percent of the U.S.

market. Because of the agreement, U.S. lumber producers dropped their complaint against their Canadian counterparts, and the U.S. WASHINGTON (AP) Minutes before a midnight deadline, U.S. and Canadian officials signed an agreement to boost by 15 percent the price of Canadian construction lumber sold to U.S.

sawmills. The accord, which could drive up the price of new homes in the United States, appeared to end a long and bitter trade dispute between the two nations. Under the agreement, Canada will impose its own 15 percent tax on softwood lumber destined for the United States, but the tax would be phased out as provincial governments begin raising the fees they 1 government dropped its plans to impose a tariff on Canadian lumber. The lumber covered by the 11th hour agreement includes pine, spruce, Douglas fir and other woods used extensively in home construction. At issue are timber-cutting "stumpage fees" paid by Canadian lumber companies to provincial governments.

In the United States, companies must bid for the right to cut trees on governent-owned land. Under the agreement, Canada's tax will be eased as Canada's provinces boost their stumpage fees by an "equivalent amount." The U.S. industry had originally sought cumng in government-owned torests. U.S. lumber producers had argued that these fees were so low they amount to an unfair subsidy, allowing Canadian producers to undercut U.S.

prices. The agreement headed off an expected Commerce Department ruling under which the United States would have imposed a 15 percent tariff on future Canadian lumber imports. A preliminary Commerce Department finding issued last Oct. 16 had set midnight Tuesday as the deadline for a negotiated Wednesday, December 31, 1986 Racine. Wis 5B theloiirnalUntes Business Today Tirade worsens 1 986 is worst year ever U.S.

Trade Deficit November $19.2 billion IMPORTS 37.8 MARCUS CONTROLS ALL RACINE THEATERS: Marcus Theaters Corp. Tuesday closed a deal with General Cinema Corp. that gives Milwaukee-based Marcus control of all five Racine movie houses. The deal, which was effective Tuesday, included General Cinema's Westgate Cinema I II and Regency Mall Cinemas in Racine. Marcus will continue to operate its other three Racine theaters: Marc I II; Rapids Plaza Cinema I II; and Park I II.

Marcus Theaters is a subsidiary of the Milwaukee-based Marcus which also operates 40 Budgetel Inns in 17 states, 105 restaurants, as well as 123 theater screens in Wisconsin, making it the largest theater operation in the state. The Journal Times reported on Dec. 20 that Marcus was negotiating a deal with General Cinema that would transfer management of General Cinema's eight Wisconsin theater's. Marcus formed in 1935, is run by Chairman and Chief Executive Officer Ben Marcus and President and Chief Operating Officer Steve Marcus. General Cinema, based in Boston, had about 1,000 screens in its 330 U.S.

theaters before the deal with Marcus. Figures rounded in billions of dollars 7 Private economists were divided Tuesday over whether the surprisingly strong advance in the Index of Leading Indicators was a true signal of a rebounding economy. The advance was more than double the 0.5 percent October rise in the leading index, which is a compilation of economic statistics designed to predict economic activity six to nine months in the future. Meanwhile Tuesday, the government announced that President Reagan would impose import duties likely to raise U.S. consumer prices for imports of gin, brandy, inexpensive white wine and cheese.

The duties are in retaliation for European trade policies that the United States says cost American farmers about $400 million a year. That retaliation is likely to be met with European action against U.S. farm products, officials said. after rising in September and October, fell to $18.6 billion in November from the October level of $19.3 billion. The previous one-month record had been an $18 billion imbalance in July.

The trade figures appeared to dash expectations of many economists that a turnaround in trade was taking place. The $19.2 billion trade deterioration in November compares to a $12.1 billion shortfall in October, a $12.6 billion deficit in September and a $13.3 billion deficit in August. Analysts suggested that one reason for the worsening of the trade balance in November might reflect an attempt by importers to bring products into the United States in advance of a tariff that took effect on Dec. 1 of 22 cents for each $100 of a product's value. Associated Press The nation's trade deficit soared to a record $19.2 billion in November as a sharp increase in imports reversed a three-month improvement trend and ensured 1986 would be the worst U.S.

trade year ever, the government reported today. For the first 11 months in 1986, Americans imported $159.1 billion more than they exported, surpassing the record $148.5 billion imbalance for all of 1985, the Commerce Department said. The report followed the announcement Tuesday that the government's main measure of future economic activity shot up 1.2 percent in November, its biggest rise in seven months, while new home sales fell 2.2 percent. In November, imports rose to a record $37.8 billion from $31.4 billion the previous month. Exports, EXPORTS IP 18 JVlQQ.

-5iij MANITOWOC MALL SOLD: No immediate changes are planned by the California banking concern that bid $2.8 million for a Manitowoc shopping mall, an attorney says. Consolidated Capital Income Trust of Emeryville, which was owed $3.4 million by the owners of the Mid Cities Mall and had initiated foreclosure proceedings, made the only bid Tuesday at a sheriff's sale. The sale is subject to approval by Manitowoc County Circuit Judge Allan Deehr. Charles Grube, a Milwaukee attorney for Consolidated, said plans for the mall were uncertain, but no changes were expected in the immediate future. Nineteen of the mall's 24 business spaces are occupied.

Court records showed that Darcel parent firm of the mall, owed Consolidated $3.4 million as of Aug. 26. Darcel was owned by three Chicago-area businessmen: Brooks Kellogg, Irving Lazarus and Robert L. Greiner. The trio bought all of Darcel's stock in 1983.

Consolidated's foreclosure proceedings were completed recently in Manitowoc County Circuit Court. Shoop Building may get first tenant ment arm, called Heritage Realty Development are located at 1439 Main St. Dickert said the firm's real estate functions, its brokers, closing department and supportive staff will remain at that address. "We've grown and that building can't support any more people," he said. "In the Shoop Building, we're going to trim it out like a house inside.

That part of the office will be developed like a showroom." He said Heritage Realty, a 15-year-old firm, has a sales staff of 26 and five administrative employees. Dickert said rental price details are being According to Brian Anderson, leasing agent for the. Shoop Building, the rent ranges from $5.50 to $10 per square foot depending on the floor. There is an additional charge of $5.20 a square foot on all floors for operating expenses such as parking, electricity and cleaning, he said. Asked if the building has its first tenant, he said, "We don't have any signed leases yet.

We can't say that he (Dickert) is going to be there because legally we don't have anything signed yet." But he said it looked like Heritage would be the first tenant and the contract would be signed soon. By Geeta Sharma-Jensen Journal Times The newly-renovated historic Shoop Building may have its first tenant. James Dickert, president of Heritage Realty said today the company's corporate offices and its six-month-old economic development corporation will move into the first floor of the Shoop Building in early February. "We hope to sign the contract with Johnson Development Monday or Tuesday," said Dickert. "We're renting about 1,100 square feet on the south-east corner of the first floor." Heritage Realty and its economic develop Young to move Mattoon operations ly the same as that at Mattoon, where the com ber to close its Mattoon facility where it had By Geeta Sharma-Jensen Journal Times Racine-based Young Radiator Co.

has bought a vacant, six-year-old industrial plant in Tennessee to replace the strikebound Mattoon, 111. plant it shut down in October. Fred M. Young president of the company at 2825 4 Mile Road, said today production at the new plant in Lexington will begin at the end of January. The plant probably will employ about 110 hourly workers, the same number at Mattoon when the strike began in March after contract talks broke down, he said.

"It depends on the production," he said. "We can't really predict what our business climate is going to be in 1987. It (number of workers) will depend on the business climate." The product line at Lexington will be essential sought concessions described by one union member as "$6.07 an hour for everybody in the bargaining unit." At the end of September, the company said it would permanently close the plant, eliminating about 140 jobs in Mattoon. At that time the company said its decision was based mainly "on comparative labor costs at Mattoon and other potential plant sites and the cost of building renovations in Mattoon if operations were continued." At that time the company told Local 1626's bargaining agents that closing the plant and relocating the work would save it at least $1.15 million a year plus it would realize a a one-time, up front savings of $460,000. Young said today given the labor situation and the age of the plant, it made more sense to move from Mattoon.

pany produced heavy duty radiators, charge air coolers and shell and tube heat exchangers. "We will start moving equipment immediately," he said. "By the end of January we'll begin modest production, and then it will grow from there." He said the new plant is "a little bigger" than the one at Mattoon acquired by the company in 1948 and later expanded to 150,000 square feet. "It's a modern plant," he said.adding the company bought it from the Gilson a Plymouth, manufacturer of lawn-care products. Young declined to disclose the purchase price.

Asked if the hourly wages in Lexington are lower than those at Matttoon, he said, "Yes." "It is the best site that we could find," he said, explaining the company looked at several sites in the Midwest, but none in Racine County. Young Radiator tentatively decided in Septem Probe expands on GM cars Auto Safety, which had filed a petition seeking the investigations. Notice of the two investigations was provided without elaboration in brief letters to the Washington-based consumer group. GM spokesman David Hudgens said Tuesday the company would cooperate with the government in both matters. The cars are the Chevrolet Cavalier, Buick Sky-hawk, Oldsmobile Firenza, Pontiac 2000-Sunbird and Cadillac Cimarron.

The A cars are the Chevrolet Celeb--rity, Buick Century, Oldsmobile Cutlass Ciera and Pontiac 6000. The X-cars are the Chevrolet Citation, Buick Skylark, Oldsmobile Omega and Pontiac Phoenix. WASHINGTON (AP) About 8.3 million front-wheel drive General Motors cars are the focus of a reopened and expanded government safety agency investigation of alleged problems with power-steering and unintended acceleration. The National Highway Traffic Safety Administration investigation involves reports of drivers losing power steering during cold weather conditions or before proper engine warmup in GM's so-called A and line of cars. The probe covers about 6 million 1980 through 1984 models.

The investigation into engine surging or unintended acceleration covers about 2.3 million 1982-85 cars. The actions were disclosed by the private Center for COIN DEALER DENIES CHARGES: Officials of a Minnesota firm that bills itself as the "largest rare coin dealer in the United States" denied state and federal allegations that they have overcharged customers more than $50 million. The allegations against Security Rare Coin and Bullion Corp. of St. Louis Park were made in separate lawsuits filed by the Federal Trade Commission and the state of Minnesota.

The lawsuits allege that Security and two other St. Louis Park companies owned by William J. Ulrich have been involved in an overcharging scheme in which novice investors were fooled into buying authentic rare coins at inflated investment grades and prices. IBM EXPECTS '87 JOB LOSSES: IBM, second largest employer in Rochester, will experience the most dramatic decline in its employment this year since it opened 30 years ago. The plant is expected to lose 900 jobs by the end of 1987, out of an employment of 7,400 at the beginning of this year.

It's part of a national trend for the computer giant. The company, which had a U.S. work force of 242,541 at the beginning of the year, has seen employment drop 4,000 during the year and expects to lose another 8,000 workers in 1987. Company officials expect 500 employees to take early retirement in 1987. The Rochester plant now employs 7,000 workers.

MILK SUPPORTS DROPPING: The government's price support for milk will be reduced Jan. 1 as ordered by Congress in last year's Food Security Act, says Agriculture Secretary Richard Lyng. Milk supports will be lowered to $11.35 per 100 pounds from $11.60, Lyng said Tuesday. Assessments on dairy farmers also will be reduced, from the current levy of 40 cents per 100 pounds of milk to 25 cents. The new support and the assessment rate will remain in effect until next Sept.

30. The assessments were charged to pay part of the cost of the $1.8 billion "whole-herd buyout" program, under which farmers are sending more than 1.5 million cows, heifers and calves to market in an effort to curb excess milk output. The 18-month program began last April 1 and runs through Sept. 30, 1987. MERGER WINS APPROVAL: Shareholders finally voted Tuesday night to approve the $3.5 billion merger of Allied Stores Corp.

and Campeau Acquisition during a special shareholder's meeting that had been postponed three times in the past two days. The meeting, at the Waldorf-Astoria, was adjourned twice Tuesday by Thomas Macioce, chairman and chief executive of Allied, who had feverishly opposed Campeau's takeover bid in September, had finally procured a white knight in the form of his longtime friend, shopping center developer Edward DeBartolo, and ultimately lost the battle to Campeau. The delays had set some corporate gadflies and other shareholders to wondering if Toronto developer Robert Campeau was having last-minute troubles with financing the $69-a-share bid that had been so bitterly opposed by the major retailer, or if he was merely stalling for time to avoid paying shareholders in cash. Under the terms of the merger agreement, Campeau could pay shareholders with a combination of cash and securities if the deal is concluded after Wednesday. SALE OF NEW HOMES FALL: Sales of new homes fell in November for the seventh time in the past eight months, according to the government, and many analysts blamed the continued declines on soaring prices.

The Commerce Department said Tuesday that new single-family homes were sold at a seasonally adjusted annual rate of 661,000 units last month, down 2.2 percent from the October sales pace. Sales had fallen 7.8 percent in October. Since hitting a sales peak of 924,000 units at an annual rate in March, sales have fallen in every month except September and now have dipped 8.4 percent below where they were a year ago. HELP WANTED ADS UP: Help wanted advertising in the nation's newspapers increased in November for the fourth consecutive month, the Conference Board says. The private business research group said Tuesday that its seasonally adjusted help wanted index, measuring ad volume in 51 major newspapers nationwide, rose to 146 in November from 141 the previous month and 144 a year earlier.

PROFITS MAY GO UP 20: Profits of major U.S. corporations should increase about 20 percent in 1987 over this year, aided by a weaker dollar and continued economic growth, according to Standard Poor's Corp. But while good earnings gains were expected for industries such as retailing and banking, the auto manufacturing and energy sectors will continue to see profits decline, the business-information company said Tuesday. CHICAGOAN TO PAY FINE: A Chicago lawyer has agreed to pay a $500,000 penalty for trading in the stock of client companies using inside information about takeover bids, the Securities and Exchange Commission announced. The SEC said Tuesday that Alfred Elliott, 42, a former partner in the Chicago law firm of Schiff Hardin Waite, would pay a penalty equal to illegal profits of $271,312 plus an additional $228,688.

In a civil complaint filed in U.S. District Court in Chicago, the commission accused Elliott of trading over a two-year period in the stock of companies involved in takeover negotiations in which he was acting as counsel. Grain futures Dollar, gold CHICAGO (AP) Futures trading on the Chicago Board ot Trade Tuesday: WHEAT 5,000 bu. minimum; Dollars per bu. High Low 2.741.

2.71', Last Chg. 7.H'' 01 J.60W .01 2.44l Open J.721'4 .2.59 2.434 Month Mar May Jul Sep 2.61 '3 2.58'- 2 45'. 2.424 2 46 2 4314 2.45' 4 01 2.51 2.50 2.51 .01 Dec 2.50 sales 3,567. open int 23,39, up 24. CORN 5.000 bu.

minimum; Dollars per bu. Mar 1.6011 1.59 1.59 01' 1.68'1 1.67 1.6714 May ....1.66 Jul 1.724 173' 1.72 1.724 Sep 1.78 1.78Vj 1.77V, 1.78'-4 Dec 1.8I I.8U4 1.804 1.81V, .004 Mar ....1.894 1.90 I.8914 1.894 .004 May ....1.934 1.9 1.93V, 1.934 .004 sales 17,556. open int 119,87, up 1,361. OATS 5,000 bu. minimum; Dollars per bu.

1.60V, 1.57 Foreign exchange (Quoted in American cents) Dec. 30 Dec. 79 Yr. Ago Enqland 1.3950 1 420 1.1310 Canada 7244 .7253 .7153 Argentina 8197 8197 1.2500 Australia 605 605 6828 Austria 0720 .0720 .0573 Belgium 0243 .0244 .0198 Braill .0679 .0681 .0009 Denmark 1340 .1340 .1105 France 1547 .1543 .1311 Germany 5133 5105 4021 Greece 0071 .0071 .0047 Holland 4517 484 3545 India 0780 .0742 .0840 Ireland 1.3850 1.3755 1.2350 Israel 4743 .674) .0007 Italy 0007 0007 0004 Japan 0063 .0062 .0049 Mexico 0011 .0011 .0022 Norway 1334 .1334 .1311 Portugal 0068 .008 .003 Saudi Arabia 3t6 .2 .2739 Spain 0075 0075 .004 Sweden 1455 .1455 .1309 Switiertend 614 .6101 .4778 Eggs CHICAGO (AP) Wisconsin's egg msrket Tuesday was ateedy at unchanged prices. Supplies were generally ample, demand was Irregular.

Prices: Grade A large 70 73: mediums 61-64. Livestock MILWAUKEE (AP) Tuesday's cattle merket: Choice steers S3. 00-56 00; choice heifers 51 00-54 00; good to choice Hoisteln steers 46 stendsrd steers 40 dairy hellers 37 utility cows 33 00-37 00: canners and cutters 27.00-32.00; commercial bulls 42.00-45.00. Common bulls 39 Tuesday's cell market: chotc veal 60 good veal 50 00-60 00; feeder bulls 60 00-100 00; replacement hellers 55 00-65 00. Tuesday hog market: sows 350-450 tbs.

40.00-42.00; 450-500 lbs. 40.00-42.00: over 500 tbs. 40 butcher 220-250 lbs. 45.00-46 00; boars 36 00 and down. Than waa no lamb market Tuesday.

Wednesday's estimated receipt: 400 cattle, 100 calves, 50 hogs and 10 lamb. 1.3810 Canadian dollars, down from 1.38175 (1.39725) In London, the British pound was quoted at SI. 4760. compared with $1.4700 Tuesday. It was the pound's best performance since September.

Sterling ended 1985 at it 4460. Local interest Courtesy Robert W. Baird Co. inc Quotations as of 10:30 a.m.: Net High Low Last Chng Am Motors 3 27i Amentech 133't 132'', '4 Ametek UH 2 2ta i BecorWestern It's IIV4 n'4 N.C. Bristol Myers Co 834 3's 83'4 Dana Corp 35' 34' 34's N.C Dayton Hud.

Corp 424 Emer. Elec 85' 85 V4 First Wis Corp 24a 24', 24 Gn.Sig.Corp 44v, 44 44 Gould Inc 17' 17H 17 marl 44' 434 44 V4 Lee 234 23 23s 'I Mattel Inc 6's 7'i 8 Rexnord Inc 2IV4 21' 2I' N.C. Snap-on Tools 25V, 25V4 N.C. Tenneco 38 Me Textron Inc 63'', 63 Twin Disc 14', 144 144 '-a Verity Corp 2 1' N.C. Vulcan Mat 124s I24v Wicor Inc 42 42' 42i Wis El Pow 52 52'4 52i N.C.

Wis PSvc 49', 49', 49', Wis Pwr 4. Lt 50i 50', 50'4 Mutual funds Value Price Affiliated Fund 10 55 11.37 Century Shares Trust 16 25 L. Fidelity Fund 16.06 NL. IDS Bond 5.29 5.49 Investors Mutual 13 47 13.12 Investors Stock 19 25 20.2 Massachusetts Inv. Tr N.A.

A. Ma ssachusetts Growth A. A. Newton Growth ......20 81 L. Nicholas Fund 34.84 L.

Selected Am. Shares 12.il NX. Silver and gold SILVER Today. $5,265. Prey.

Day, $5,310. Vr. Ago, closed. GOLD Today, $368.75, Prev. Day, $390.10, Yr.

Ago, closed 1 60V, .03 1.53'. 1.43V, 1.37V, LONDON (AP) The U.S. dollar weakened slightly today against European currencies, heading into the New Year 25 percent lower on average than at the end ot 1985. Gold was up. The dollar fell steadily over the year following the September 1985 decision of the major industrial powers to realign currencies in order to cheapen the dollar and make American exports more competitive.

The dollar was further weakened by general pessimism about its long-term prospects and a perception of underlying weaknesses in the U.S. currency. Over the year the dollar lost 27 percent against the Swiss franc. 26 percent against the West German mark, 25.7 percent against the Dutch guilder, and 25 percent against the Japanese yen. was 23 percent weaker against the Italian bra, hitting -a tour-year low today, and down 16.7 percent againat the French franc.

The British pound was the only maior European currency that remained relatively steady against the dollar over the yeer. In Tokyo, where trading ends before Europe's business day'begina, the dollar rebounded today after a nine-day fall to close at 160.10 yen. up 0.90 from Tuesday. Later, In London, It was quoted at 159.65 yen. The dollar lost 4.55 yen over the past nine days, and ended 1986 40 yen lower than a year ago.

It plunged to a 40-year low ot 153.05 yen on August 20. Today's thin, volatile trading was typical ot the year's end. "The dollar is under substantial pressure at the moment," said a dealer In Frankfurt. "We're at the end of the year and there Isn't any real market at the moment. We can expect to see wide swings without any real justification.

Other dollar rates at mid-morning, compared with late Tuesday, and the rates on Dec. 31 1965 In parenthesis: 1 9400 West German marks, down from 1.945(2 4450) 1.6225 Swiss francs, down from 1.6285 (2.0606) 8 4275 French francs, down from 6 4500 (7.SOS5) 2 1913 Dutch guilders, down from 2.2065 (2.7565) 1,351.30 Italian lira, down from 1,356.00 (1,670 50) 1.494 1.42 1.37V, Mar ....1.57 May ...1.494 Jul 1.42 Sep 1.37V, sales 717. l.S34 1.43V, 1.37V, open int 5,640, op 10. SOYBEANS 5,000 bu. minimum; Dollars per bu.

Jan 4.87 4 89'4 4 854 4 89 Mar ....4.90 4 924 4.89 4.92", .02 May 4.934 4.91, 4.92', 4 6' 02V, Jul 4.94'1 4 99 4 95', 4 98'', .02 Aug 4.94i 4 99 4 95', 4 99 .03 Sep 4.90 4 93 4 90 4 93 .02 Nov 4.90 4 94 4.89", 4.94 Jan 4 99V, 4.99", 4.99' 1 4 99V, .02 sales 16,533. open int 79,411, oil 2,464. Over the counter Bid Ask Lindberg Corp 54 Marine Corp 39 Marshall II Corp 27'4 IV 1 Modine 25V, 2 Schulft Sav-0 40 A. Versa Tech 13 Westirn IJ'i 12.