The Journal Times from Racine, Wisconsin • 16

4B Wednesday. October 29. 1986 Racine. Wis. theTdinial Times OAW Riexicaim veotare Business Today She said the department has provided American businesses with information about maquiladora manufacturing since the 1960s, but "Expo Maquila" Dec.

3-5 would be the first of its kind sponsored by the department. Last week. Congress banned use of taxpayer money for the conference, but Commerce Department spokesman Don Creed said it still could be held because fees charged to participants and exhibitors would cover costs. He said it probably would be several weeks before a decision is made on whether to cancel the conference. Creed and Coyle said department International Trade Commission studies have shown there were 165,000 highly skilled American jobs directly related to supplying the maquiladoras in 1984, and that last year, the 174 maquiladoras near Ciudad Juarez alone used components from 5,714 suppliers in 44 U.S.

states. these alternatives come up with rotten alternatives," Laarman said. "We think decisions about where investments are going to be made should consider how to maximize employment and income in the United States. "The choice becomes the Pacific Rim or Mexico when you've abandoned the United States. A world labor auction is not a good way to develop the (U.S.) economy." Under a program begun by the Mexican government in 1966, foreign companies are allowed to import components duty-free, assemble them in Mexico and export the finished products back to the United States or other countries.

Most of the nearly 800 maquilado-ras along the U.S.-Mexico border are owned by U.S. companies, said Melissa Coyle, director of the Commerce Department's Mexico trade division in Washington. Courier, a day before President Reagan's planiied stop there to stump for Republican Richard D. Mclntyre's congressional election bid. The ad was headlined: "A question for Ronald Reagan: Why are you moving our jobs to Mexico?" and said U.S.

-owned factories in Mexico employ 250,000 workers while 58,700 Indiana workers have lost manufacturing jobs since 1980. The Commerce Department says that by using U.S. parts, the maquiladoras save American jobs. Without them, the department argues, U.S. companies looking to lower labor costs would move assembly to Southeast Asia, where they would likely use few American-made parts.

The UAW disagrees with that reasoning, said spokesman Peter Laar-man. "We think the economists and the corporate people who come up with Journal Times staff and news services RESTAURANT TO OPEN AT WESTGATE: An Old Country Buffet restaurant, with seating for about 265 people, will be opened in 8,950 square feet of space at Westgate Mall, 4901 Washington by Buffets Wayzata, Minn. Serving lunch and dinner, but not breakfast, the restaurant is scheduled to open about mid-December, said Diane Hasbargen, Buffets corporate secretary. Buffets which operates all its units under the name Old Country Buffet, has 20 restaurants in operation. Sixteen are company-owned and four are franchised.

The company-owned units are in Minnesota (eight), Illinois (two), and Wisconsin (six, including three in the Milwaukee area and one each in Eau Claire, Appleton and Green Bay). The franchised units are in Nebraska, Oklahoma and Pittsburgh. INSURANCE AGENCY MOVING: Christensen Lee Insurance Inc. said it will move its offices from 2707 Rapids Drive to larger quarters in the lower level of the Lange's Pharmacy building at 1122 West Blvd. Plans call for opening at the new address Nov.

17, the insurance agency said. CASE EXTENDS SHUTDOWN: The J.I. Case Co. said it has extended the Thanksgiving week production suspension at its tractor and transmission plants here from two days to five, starting Monday Nov. 24, as an inventory-control measure.

The plants have about 1,200 employees, hourly and salaried. How many will be temporarily idled by the suspension wasn't yet known, a Case spokesman said Tuesday. JOHNSON WAX: S.C. Johnson Son Inc. said Ray E.

Johnson, formerly director of personnel, Johnson Worldwide Associates, has been named director of personnel, Americas. He succeeds Gayle P. Kosterman, who earlier was named assistant to the president. TENNECO SETS PAYOUT: Tenneco the diversified energy company that owns the Racine-based J.I. Case and Walker Manufacturing companies, declared a quarterly dividend of 76 cents a share on common stock, payable Dec.

9 to shareholders of record Nov. 7. GOULD NAMES MCDONALD CHAIRMAN: Gould the electronics and computer company based at Rolling Meadows, 111., said its board of directors has elected James F. McDonald, president and chief executive officer, to the additional post of chairman. McDonald, 46, succeeds William T.

Ylvisaker, 62. Ylvisaker retired last month and is being retained as a consultant to Gould, whose holdings include the Motion Control division here at 2701 N. Green Bay Road. I'M! tfWWMW, By Jant Braunttain Associated Press DETROIT A Commerce Department-sponsored conference to help U.S. companies set up plants in Mexico is pushing "more workers onto unemployment lines," United Auto Workers President Owen Bie-ber said.

About 38,000 U.S. businesses have been invited to the December conference in Acapulco on "maquilado-ras," Mexican manufacturing plants that assemble products from primarily American-made parts, the Commerce Department says. "In the midst of a record trade deficit that is continuing to wipe out U.S. jobs by the hundreds of thousands, it is truly shocHng to discover the Reagan administration sponsoring a meeting to help U.S. firms push still more workers onto unemployment lines," Bieber said Tuesday.

The UAW took out a full-page ad Tuesday in The Evansville (Ind.) GM plant in S. Africa shut down JOHANNESBURG. South Africa (AP) The General Motors' plant in Port Elizabeth was shut down today when most of the 3,000 employees refused to work or to go home, demanding severance pay and refunds on their pension payments before new owners take over. The workers fearvmany of them will be laid off when GM completes its sale of the plant, announced Oct. 20.

GM also is selling its dealerships and parts contracts in South Africa to local parties. The buyers are to be identified Monday. The National Automobile and Allied Workers Union, which represents about 2,000 workers at GM's Port Elizabeth plant, demanded last Friday that the company pay dismissal benefits and refund the employees' pension and insurance contributions because of uncertainty over what the new owners will do. Of the two other unions at the plant, the Motor and Component Workers Union backed the strike but not the mostly white South African Steel and Allied Workers Union, said personnel manager Denis Bris-lin. "Tension and frustration is building up among workers resulting from the secret and mysterious dealings evident in this matters," a National Automobile and Allied Workers Union statement said.

aAt no stage did the company indicate to the union who the new owners will be and on what terms and conditions the new company will be constructed." The union also has asked for two seats on the board of directors of the new company. The managing director of GM South Africa, Bob White, said he could make no promises on who the new owners would choose for their board. He said GM would pay no dismissal benefits because no one had been laid off. Brislin said White addressed the workers Tuesday "and gave them them all assurances that no benefit plans or conditions of employment would or could change. It's against the law for the new company to change them." When White announced the GM pullout, he said no employees' jobs would immediately be threatened.

Brislin said employees had vowed to remain on the plant premises without working until their demands were resolved. "They will probably be sleeping here tonight," he said, adding GM would not try to force them to leave. jj fit liln jwir A til I Li Sl- i II N.J. FIRM BUYING SHEBOYGAN PRESS: Ingersoll Publications of Princeton, N.J., said it has agreed to buy the Sheboygan Press, which has been owned by members of the same family since 1912. Price was not disclosed.

Ralph Ingersoll II, chairman of Ingersoll Publications, said his company owns 32 daily newspapers and more than 100 weeklies, mostly in the East and Midwest. The company was founded by his father, the late Ralph Ingersoll, who was instrumental in creating Life Magazine and once was publisher of Time and editor of the New Yorker. The Sheboygan Press is run by three brothers, Timothy B. Werner, publisher, John, editor, and Anthony, president. Their mother, Mrs.

Dorothy Werner, is vice president of Press Publishing Co. Ingersoll said Timothy Werner told him he would leave the paper. The other two brothers, he said, would be welcome to retain their positions. Their grandfather, T. M.

Bowler, and his brother, E. R. Bowler, took over the paper in 1912. AIRLINE TO DROP SOME FLIGHTS: Northwest Airline will be the only airline serving passengers between Green Bay and Milwaukee after US Air discontinues three daily round-trip flights on Dec. 15, a US Air spokesman said.

Joe Maschinot, customer service manager for US Air in Green Bay, said Tuesday that after Dec. 15, the only airline serving passengers between Green Bay and Milwaukee will be Northwest Airlink, a commuter service of Northwest Airlines. US Air, based in Washington, D.C., flew three round-trip flights daily between Green Bay and Milwaukee, and averaged 15 passengers a flight, according to Nancy Vaughn, of US Air's public relations office. Northwest began flying two flights daily from Green Bay to Milwaukee Oct. 1.

US Air began service from Green Bay on July 8, 1985. NORTHWEST ENGINEERING BUYING TEREX: Northwest Engineering Green Bay, said it has signed a letter of intent to buy Hudson, Ohio-based Terex and Terex Equipment Co. Ltd. of Scotland. Terms of the proposed sale were not disclosed.

Northwest and Terex both make earth-moving equipment, and both have been in federal bankruptcy court. Northwest emerged from bankruptcy reorganization in February 1985. Terex, which filed for protection in November 1983, recently was given approval to reorganize. Terex has said it plans to close all manufacturing in the U.S. and transfer all production to the affiliate company in Scotland.

Terex spokesman Richard Warner said the company had enough orders to keep the plant in Hudson, a suburb of Akron, open at least through February. Terex has 400 hourly employees and 250 salaried workers in Hudson. urn Mnwimr-fflm aaiaepw- Jj: if i. 1 4 00 Chuck D'Acquisto, Journal Times Kentucky bound Brian McKenzie, a press operator at Ace Frankfort, which makes fuel pumps Stamping Machine Co. 2801 S.

and ignition transformers for the oil-heat- Memonal Drive, watches as his press ing industry. The parts are stamped from stamps out parts for shipment to Racine- rolls of coiled steel which feed automati- based Webster Electric plant at cally into the press. SEARS TO CLOSE WORLD TRADE UNIT: Chicago-based Sears, Roebuck Co. said Tuesday it will phase out Sears World Trade a Washington-based unit that was created in 1982 to dominate import-export markets but instead has lost $60 million and been a constant corporate headache, the Washington Post reported. The decision entails the immediate dismantling of the trade operations in the United States and will send the division's 300 U.S.

workers scrambling for new jobs. The unit's overseas operations, at least initially, will be folded into Sears' merchandise division. With the end of Sears World Trade, Sears is left with four units. They are, in addition to the Sears merchandise group: Dean Witter financial services group, Sears Mortgage which includes Coldwell Banker, and the Allstate insurance group. TAIWAN IMPOSES EXPORT CONTROLS: Taiwan today imposed controls on the export of machine tools to the United States, a week before negotiations with Washington on the issue, the Associated Press reported from Taipei.

Foreign trade officials said exporters would be required in the future to apply for permits from the Board of Foreign Trade before exporting machine tools to the United States. Local banks previously were authorized to issue the permits. The officials said the measure was aimed at facilitating export restraints when Taiwan and the United States reach an agreement in their trade dispute. In negotiations that ended in Tokyo on Saturday, trade officials of the two countries failed to agree on a U.S. request that Taiwan voluntarily restrict machine tool exports for the next three years.

But they decided to meet again Nov. 5 to resolve the differences. BID FOR BANKAMERICA RAISED: First Interstate Bancorp said it has raised its offer to buy Bank America Corp. to $22 a share, or about $3.4 billion, the Associated Press reported from San Francisco. In a news release, Los Angeles-based First Interstate said Tuesday that the the higher offer, which would swap a package of securities for each BankAmerica share, exceeded BankAmerica's book value as of Sept.

30. Joseph J. Pinola, First Interstate's chairman and chief executive, set forth terms of the new offer in a letter to BankAmerica's board of directors. First Interstate valued its previous offer at $18 a share or $2.8 billion. BANK-FAILURE PACE CONTINUES: The number of U.S.

bank failures in 1987 should not fall sharply from this year's near-record total, the chairman of the Federal Deposit Insurance Corp. said. L. William Seidman said in remarks prepared for a general session of the American Bankers Association annual convention Tuesday that the FDIC's problem bank list now totaled 1,456, and was continuing to grow. So far this year, 117 banks have failed or needed federal assistance to stay afloat, compared with a record 120 for all of last year, and Seidman said he expected another 30 or more cases by the end of 1986.

FCC CLEARS SALE OF WITI-TV: Lorimar-Telepictures Culver City, said it has received approval from the Federal Communications Commission to acquire six television stations from Storer Communications including WITI-TV in Milwaukee, for $1,415 billion. The other five stations are WAGA-TV in Atlanta, WSBK-TV in Boston, WJW-TV in Cleveland, WJBK-TV in Detroit and KCST-TV in San Diego. 1.3682 Canadian dollars, up from 1.3876. In London, the British pound waa quoted at $1 4140, unchanged from late Tuesday. Gold opened In London at a bid price of $410.25 a troy ounce, compared with late Tuesday's 412.

At mid-morning, the city five major bullion dealers fixed a recommended price of $407 75. In Zurich, the bid price was $407.50, down from $409 90 late Tuesday. "We've seen a good sell-off," said one London trader. She predicted the price would drop to around $405, Its lowest level In London since closing at $404.50 on Aug. 11.

The precious metal then climbed erratically, topping $440 In the first week of October. Earlier, In Hong Kong, gold fell six cents to close at a bid $409 37. Silver waa quoted In London today at a bid price ot $5.63 a troy ounce, down from late Tuesday's $5 68. Livestock ..1.14 1 l.24 Ml May ...1 19 1 90V 1 M8' Jul 1.91 l.tll, 190'4 1.t4 M'4 Sep 1.90 1.924 1.90 1 90', Dec 192 194 141i4 1.9214 a Mar ....3.00 2.01 2.00 1.00 00'j Mon 's sales 30 050. open int 153.3)4, up 3,501.

OATS 5,000 bu. minimum; Dollars per bu. Dec I37U 1.32'i 130 Mil 00'4 1.34 1314 131 -OO'i May ....1.33 I 33'4 1.31'i l.32'i Jul 1 394 1.294 1.394 I.19' sales 152. open int 3,504, up 154. SOYBEANS 5,000 bu.

minimum; Dollars per bu. Nov 4 4 9t4 4.9114 4.94 .004 Jan 5 03 5.03' i 4 94' 4 Mar ...,5 5.04 5.02", 5.04 May ....5.11 5 134 5 00 5.10 .01 Jul 5.14 5 lt4 5.10' a 5 12 Aug 5.13H 5 5.10 5 11 Sep 5 0 5 5 04'1 5 5 04 .02 Nov 5 04 5 5.04 05 .01 Mon 's sales 34.334. open int 70,747, up 2,410. Dollar, gold LONDON (AP) Th US dollar dropped gsimt most mof currvnetea In aarty European trading today. Gold price fall mora than two dollars an ounce In busy trading.

Dealers said trva currency mark at were Mat-less, with aome participants apparently awaiting key S. economic Indicators due lor release this week. Including the September trade llgurea on Thursday. In Tokyo, where trading ends before Europe's business day begins, the dollar edged up 0 05 yen lo a cloalng 159 3 yen from Tuesday 159, JO. Later, In London, It wee quoted at 159.69 yen.

Other dollar rates at mld-rnornlng, compared with late Tuesday: 2 0255 West German marks, down from 2 0295 1 6720 Swiss franca, down from 1 6733 6 6225 French franca, down from 6 6355 2 2902 Dutch guilders, down from 2 2940 1 ,401 50 Italian lire, down from 1,403 50 Saudi Arabia 2447 .2730 Spain 0074 .0073 .0042 Sweden 1439 .1433 .1259 Switierland 5071 .5925 .4413 Local interest Courtesy Robert W. Baird Co. Inc. Ouotalions as ol 10: 30 a.m. Net High Low Last Chng Am Motors 3' 3 Ameritech 129i4 120 128'i NX.

Ametek 2ta 34' 24' 'a ui 13' a 13't Bristol Myers Co 77'i 77'j 77't Dana Corp Ma 37a 33'4 Dayton Hud. Corp 44 44i 44' i 4 Emer. Elec ai N.C. First Wis Corp 24 7' 26 'i Gn Sig Corp 41' Ui 42 Gould Inc It4 19i, i4 Kmart 49s, 46' 4tH 1', Lee M4 11' J)H Mattel Inc I0. I0, I0, N.C Rrxnord Inc 11', 11', N.C.

Snapon Tools 37 37 77 Tenneco 34', 39' 39', Teitron Inc 59v4 54', S9'i 'l Twin Disc NT. NT I5 NT Verity Corp 2 1', 2 N.C. Vulcan Mai 114 H3'i lll'i 'i Wicor Inc 4ia 42, 47, '4 Wis El Pow 55', 551, 551, i. Wis PSvc 54 4 S34 54' 4 4 WisPwrtLI 52'. 52 -'i Grain futures CHICAGO IAP) Futures trading on the Chicago Board ol Tradp Tuesday: WHEAT 5.000 bu minimum; Dollars per bu.

Open High Low Last Chg. Dec 7 93 2 941, 2 (7 2 l7'i 0H4 2 79', 2 73 2 73'i-05'4 40J 2 61 1 57'j 2 57', 03'4 Jul 2 44'4 2 441, 2.43 2.43 Sep 3 44 2 44 2 44 1.44"4 Dec 2 55 3 55 2 51 2 51 Mon sales 7.452 Men 1 open ml 15 139, oil 141. CORN 5.000 bu. minimum; Dollars per bu. Dec 1.744 1 11 1.74 1 75', 00'4 Over the counter Bid Atk LindtMrg 7'- 7'i Mtnnt Corp 40' 0 Mjrttell II Corp 27 II fltodine 15 2JW Schultl Sv 47 VrviTch H4 WMltrn IJi, Mutual funds VaIim Prtff Affiliated Fund 11 II 40 Century Snarn Trut JO 01 L.

Fidelity Fund 1147 NL. Inveilon Mutual 17 07 12 71 Invelton Slock 2130 22 MastacHuiertt Inv. Tr 47 14 52 Miiuclxnttli Growth 12 13.52 Newton Growth 25 21 Nt Nicholal Fund 35 01 Selected Am. Sharet 13.70 MX. Silver and gold M.VH Today.

15 170. Prey Day, M.17S.Yr. Ago, 14.175. OCK.D Today. MI0 70.

frev. Day. (410.00. Yr. Ago.

3 5i. Foreign exchange (Quoted In American cent) Oct. 2 Oct. 27 Yr Aoo England 1.4172 1 4075 1 4240 Canada 7704 7700 73i Argentina eief 1 2500 Aottralla 440 MIS '001 Amtrta 04 ro osm Belgium 0717 .0117 Braul 0713 071) 0001 Oenmerk 1300 .1301 .1043 France J034 2014 .1140 Germany 404 vn Greece 0O71 .0072 0045 Holland 4351 3150 India 07M 07S ,040 Ireland 1344 MM 1710 Itrael '0J 4714 0OO7 Italy .0007 0004 Jopan 0043 .0042 0047 MeiK 0012 0017 0073 Norway I let .111 Pertugel 0047 .0047 .0042 MILWAUKEE (AP) Tueedey cattle market: choice steers 54 choice heifers 52.00-55 00; good to choice Holsteln steers 47.00-55 00: atandard aleers 42 00-46 00; dairy heifere 39 utility cowa 37.00-39 00; can-ners and cutters 30 00-36 00: commercial bulla 43 Common bulla 40 00-42 00. Tuesday a calf market: cho4ce veal 70 00-80 00; good veal 60 00-70 00; feeder bulls 60 00-95 00; replacement hellers 60 0O-70 00.

Tuesday's hog market: eowe 300-350 Ibe. 47.00-49 00; 4 SO-500 tot. 47 00-49 00; over 500 lbs. 49 00-51 00; butchers 220-250 lbs. 50 00-51 00; boara 45.00 and down.

Tuesday's lamb market: good to choice 00.00-00 00; ewes and bucks 0 00-00 00. Wednesday's estimated receipts: 500 cattle, 200 carves, 100 hogs and 30 lambs. CHICAGO (AP) Wisconsin's egg market Tuesday waa ateady to firm. Supplies were adequate, demand was moderate to good. Price: Grade A large 67-70, medium 55-68..