The Journal Times from Racine, Wisconsin • 24

Business the Racine, Journal Wis. Times, Tuesday, June 3, 1908 4C Further cutbacks expected ted New county construction up New construction in Racine County is running ahead of a year ago, despite the nationwide slump in building, according to F. W. Dodge. The division of McGraw-Hill Information Systems reported total construction activity in Racine County in the first four months of this year at $15,305,000, up 4 percent over January-April of 1979.

The four-county Milwaukee metro'politan area, by contrast, was 43 percent behind 1979's pace, with a four-month total of $118,596,000. In Racine County, residential construction is down to $7,420,000, off 24 State jobless claims MADISON (AP) The Wisconsin Job Service. reported Monday that unemployment has continued to increase in the state. The Job Service said the total number of workers claiming unemployment compensation rose to 579 during the week ended May 24, per cent from the four total for 1979. But non-residential construction is up 61 percent, to $7,885,000, with much of that attributed to a $3 million Boston Store project at the new Racine Mall at highways 11 and 31.

The Racine County gain was largely due to April construction starts, totaling $8,203,000 and up 41 percent over 1979. The firm said that nationally, the decline of new construction activity accelerated in April as the recession began to curtail contracting for commercial and industrial building. an increase of 4,043 over the pre, vious week. In addition, the Job Service said the number of workers receiving state benefits increased nearly a full percentage point during the previous week, to 5.7 percent. Western's Sheehan resigns Charles H.

Sheehan, general manager of Western Publishing direct marketing division, resigned effective Friday and has accepted a position as vice president for mail order operations with LeeWards, a subsidiary of General Mills, in Elgin, Ill. Before transferring to Racine in Shop on Main Mary Kaprelian, N. Wisconsin said she and David Azarian, 5036 Worsley Lane, have purchased the assets of the Main Street General Store, a gift shop at 302 Main from Susan Shilts. Kaprelian said the purchase included the name of the business and November of 1978, Sheehan, 43, was director of marketing in Western's New York City office. He said he, his wife Joanne and their three children will be relocating, to Barrington, in July.

Western has been a subsidiary of Mattel Inc. since last June. Street bought inventory, but no real estate. Price was not disclosed. Shilts opened the shop in the summer of 1978.

It closed May 24 and is scheduled to re-open under the new ownership June 9, said Kaprelian, who will manage the business. Dana closing Illinois plant Toledo-based Dana Corp. said it will close permanently another plant that makes parts for light-duty trucks in a 1 move to reduce its activity in that line of business. The immediate closing of a casting facility in Havana, is the third permanent shutdown announced by Dana in less than a month. The Havana plant made steering parts and other cast metal parts for light-duty trucks.

At its peak, the plant employed about 300 workers, a total that has dwindled to 30 as truck -sales plunged. The action follows previously-announced plant closings at Ecorse, and Edgerton, Wis. The plant made truck frames. The Edgerton plant, which made front-drive truck axles, will close this summer. Dana also closed another plant in Havana, a facility that made automotive gaskets.

VW reports profit drop Volkswagenwerk AG, Wolfsburg, West Germany, said its net earnings fell 27 percent in the first quarter despite a 15 percent -sales gain. The automaker said earnings declined to the current equivalent of $72 million from $98.4 million in the year -earlier quarter. Sales rose to about $4.78 billion from $4.16 billion. VW attributed the earnings decline to a reduced profit from its foreign operations and to deficits resulting from the startup of new facilities. Specifically, the company said Chrysler Motors do Brasil, acquired last year, is posting deficits while it adjusts its production.

Earnings were also hurt by a strike at Volkswagen of America's plant in New Stanton, the company said. VW said its production rose 7 percent, to 707,000 vehicles from 661,000 in the year -earlier quarter. Utility warns on generators The emergency generators used by some businesses and homes can pose dangers to neighbors and power. company employees, warns an official of Wisconsin Electric Power Co. Russell Selbo, manager of the company's accident prevention division, said people thinking of installing generators and those who already have them need to take special precautions.

If the installation is improper, he said, it could send power back into the company's lines when the unit is started. That power could rush back to where power company employees are working on lines, putting them in extreme danger, Selbo said. He added it could also endanger neighboring homeowners who believe the power is off while the work is being done. "People who already have emergency generators installed should have them checked monthly to make sure they are in good working order," Selbo said in a release. He suggested generators be installed by qualified electricians.

AMC reportedly plans to build its own '4s' DETROIT American Motors Corp. will build its. own four -cylinder engines for most of its.car and Jeep utility vehicle lines starting in 1982, a trade journal reported Monday. AMC, which declined comment on the report, will build the fours at its Kenosha auto assembly plant, according to the Metalworking News edition of American Metal Market. Metalworking News said the engines would go into AMC's Spirit, Concord, and Jeep CJ-5 and CJ-7 models beginning with the 1983 model year, and that AMC also may use the new engine in the Renault-designed front-wheel-drive cars sched-: uled to be built at Kenosha starting in 1982.

The publication said it will be cheaper for AMC to build its own four-cyclinder engines. The report said the move also will help the automaker meet federal fuel economy WASHINGTON (AP) The nation can expect further declines in manufacturing in coming months as a result of April's sharp slide in factory orders. New orders fell 5.5 percent the steepest drop since the last recession while inventories climbed 1.7 percent, according to a report re leased Monday by the Commerce Department. The report "reflects the decline in retail and other sales," said William Cox, a senior Commerce Department economist. "And it suggests that there will be further cutbacks in production in the manufacturing sector." The cuts are likely because manufacturers will want to slow production to use up the accumulating in- This, of course, could result in more layoffs as the recession deepens.

Unemployment in April rose to 7 percent and many experts believe it will top 8 percent before year's end. May unemployment data is scheduled for release Friday, Factory production already has dropped for three consecutive months. In a separate report, the Commerce Department said outlays for new construction fell 3.6 percent in April to an annual rate of $221.7 billion. Construction spending, adjusted for inflation, stood at $106.9 billion in April, down 2.6 percent from March and 5 percent below the rate of April Both government and private construction have been weak since 0c- tober, when interest rates began rising as the Federal Reserve moved to raise lending rates and slow inflation. Interest rates, which hit record levels in late March and early April, have since begun to fall.

The April decline in factory orders to $143.8 billion was the sharpest drop since December 1974, when orders fell 6.8 percent, the Commerce Department report showed. New orders fell 1.6 percent. in March and 0.6 6 percent in February. "It was pretty widespread," said a Commerce Department analyst who asked not to be identified. "Ev.

erything is down in April excpt aircraft." ventories. 1979. Meantime, factory shipments fell 1981 New Yorker The Chrysler New Yorker for 1981 will shorter than the 1980 model and 12.3 be nearly a foot and a half shorter, over- inches shorter than the first New Yorker all, than the 1980 model. The new New in 1939. The first one had a 323.5 cubic Yorker, with an overall length of 205.5 inch L-head eight-cylinder engine and inches, will be on a wheelbase of 112.7 sold for $1,298.

Choices for 1981 are 6 inches. That wheelbase is 5.8 inches and 8-cylinder engines. Co Construction under way on Westgate su supermarket Construction has started on 40,000 square-foot supermarket at Westgate Mall. The store is tentatively scheduled to open late this fall. Westgate Mall, the Washington Avenue retail development, is anchored by a Shopko discount department store.

As previously reported, the supermarket will be operated under the name Randall's Foods by Randall Stores a company based at Mitchell, S.D. The building's foundation was poured last week. The site is immediately north of the L-shaped retail Grain futures CHICAGO (AP) Futures trading Friday on the Chicago Board of Open High Low Close Chg WHEAT 5,000 Dollars per bu. 4.04½ 3.97 3.97¾ Sep 16 4.18 4.10½ 4.11¼ 4.34½ 4.27½ 4.28 Mar 4.47 4.49 4.40¾ May 4.56½ 4.46½/2 4.46½ Jul .......4.54 4.56 4.48 4.50-.03½. Sales Fri.

15,929. Total of open interest Fri. 42,690, up 622 from Thur. CORN 5,000 Dollars per bu. Jul 2.76% 2.76¾ 2.73½ 2.73¾ Sep.

2.86½ 2.86½ 2.82½ 2.82½2 2.94% 2.90 2.90¼ Mar 3.06 3.01½ 3.01¾ May 3.13 3.08¾ 3.09 3.18 3.13½ 3.13¾-.03% Sales Fri. 23,250. Total open interest Fri. 153,342, up 277 from Thur. OATS 5,000 bu; Dollars per bu.

Jul 1.65⅛ 1.65% 1.59½ 1.59½ Sep 1.67¼ 1.68 1.62½ 1.62½2 1.74¼ 1.75 1.70 1.70 Mar 1.80½ 1.80½ 1.76½ 1.76½ May 1.80 1.80 1.79½ Sales Fri: 859. Total open interest Fri. 4,248, off 101 from Thur. SOYBEANS 5,800 Dollars per bu. Jut .......6.24.

6.25 6.15 6.15¼ Aug 6.31 6.32 6.22 6.22½ Sep 6.38½ 6.39½ 6.30½ 6.30¾ Nov 6.51 6.53 6.43 6.44¼ 6.67½ 6.58½ 6.59 Mar 6.80 6.82 6.72 6.74 May. 7.02 7.02 6.93½ 6.94 6.85 6.94 6.85 Sales Fri. 18,946. Total open interest Fri. 102,694, up 201 from Thur.

Potatoes CHICAGO (AP) (USDA) Major potato markets FOB shipping points U.S. 1A Monday in 100 lb. sacks: Minnesota round reds 4.75-5.00; 50 lb. cartons: Washington russets 12.00-12.50; Idaho russets 13.50-14.00. CHICAGO (AP) Midwest egg price report: wholesale buying prices Monday unchanged; A extra large 42; A large 38; mediums 31; smalls 28; nest-run breaking stock 36; checks 29.

Cash grain CHICAGO (AP) Wheat No. 2 hard red winter Monday; No. 2 soft red winter 3.83 Van. Corn 2 yellow (hopper 2.59%n (box). Oats No.

2 heavy 1.831n. Soy beans No. 1 yellow 6.00 Van. No. 2 yellow corn Friday was quoted 1 2.66%n (hopper (box).

4 percent April to $144.1 billion after dropping 1.8 percent in the preceding month. And inventories rose 1-7 percent in April to $242.6 billion, 13.2 percent ahead of the average inventory level in the second quarter of 1979. As a result, the inventory. ments ratio shot up from 1.59 in March to 1.68 in April. The ratio, which indicates how many months worth of goods manufacturers have on hand at current rates of shipment, had averaged about 1.54 percent for the last 12 months, the report said.

The April ratio was the highest since the 1.70 reported in October 1976, when manufacturers were. working off the accumulation of inventories from the 1974-75 recession. rise standards and the increased demand for fuel-efficient cars. AMC presently makes six-cylinder engines at Kenosha, and still makes V8 engines there, the latter for use in Jeep vehicles. For the 1980 model year, the company purchased 64,000 2.5-liter four-cyclinder engines from the Pontiac division of General Motors Corp.

Metalworking News said GM is no longer able to produce enough Pontiac fours for its own high-demand subcompacts and would not be able to supply AMC with the engines it needs. It is unknown whether AMC and GM will extend their agreement past 1982, the publication said. AMC recently announced plans to cut $15 million from its 1980 capital spending plans, but Metalworking News said plans to tool up for four-cylinder engine production would not be affected. Nielsen of ratings fame dies CHICAGO (AP) Services for Arthur C. Nielsen, founder and director of the marketing research company known for its television and radio ratings, will be held Wednesday in north suburban Winnetka.

Nielsen, 83, died Sunday in Northwestern Memorial Hospital. He founded the A.C. Nielsen Co. in 1923 after working for a business magazine publisher, and was active in the company until last year. The company was with five staff members and capital Nielsen raised from University of Wisconsin classmates and other friends.

It went broke twice in the early 1930s but reached a turning point later in that decade when research into consumer buying habits became its cornerstone. Today the company is one of the world's largest marketing research group known best for researching popularity of televison programs by using "Nielsen families" and 'recording their viewing habits using. From its base in north suburban Northbrook the company operates in 23 countries and provides 80 business services. Nielsen contributed funds for the Nielsen Tennis Stadium on the University of Wisconsin-Madison campus. He was the recipient of numerous national and internaional awards for advancement of marketing 'and research and was a philanthropist in education, medical research and programs for the aged and blind.

Survivors include his widow, two sons, and three daughters. shops extension of the Shopko store, which opened last November. The construction permit lists cost of the new structure as $1,250,000. General contractor is Tonn Blank, Michigan City, which built the Shopko store and the retail shops extension. At 40,000 square feet, Randall's Foods will be the largest food store in the Racine area.

By way of comparison, the Kohl's supermarket at 1200 S. Green Bay Road is 25,000 square feet. Randall Stores. a familyowned enterprise, operates 36 stores Local interest Courtesy Robert W. Baird Co.

Inc. Quotations as of 10:30 a.m.: Net High Low Last Chng Alleg 26 26 V8 Am Motors Bucyrus. Cont. 30 30 Evans First Wis Corp. NC Gn.Sig.

Corp. .............34 34 Hardee. 15 22 mart. Koenring 1812 NC NC: Levi Strauss 32 32 Massey NC Mattel 8 Mattel Inc. (pfd) Modine.

NC Northwest Ind. Rexnord 17 Rex (2.36 ptd) 46 NC Schlitz NC Snap-on Tools 214 Sta Rite 14 Textron Twin 17 17 Vulcan Mat Wis El Pow. Wis PSvC Wis Pwr 18 Foreign exchange (Quoted in American cents) June 2 May 30 Yr. Ago England 2.3550 2.3250 2.0558 Argentina. .0005 .0005 .0008 .8632 .8690 .8617 Austria.

.0789 .0784 .0706 Belgium .0352 .0349 .0324 Australia 1.1465 1.1430 1.1000 .0190 .01.90 .0395 .1814 .1778 .1860 France .2403 .2250 W. Germany. .5640 .5594 5210 .0225 .0225 -0260 Holland .5133 .5094 .4762 India .1298 .1298 .1200 treland. 2.1000 2.0820 1.9640 .0215 .0215 .0400 .0012 .0011 .0011 Japan. .0044 .0044 .0045 .0437 .0437 .0438 Norway, .2060 .2047 .1923 Portugal.

.0205 .0204 .0200 Saudi Arabia 2995 .2930 Spain .0143 .0142 .0151 Sweden. .2396 .2378 2273 Switzerland. .6052 5998 5746 Silver and gold SILVER Chicago Mid America 1,000 ounces June July August October December February $15.33. Estimated sales. 770 contracts.

GOLD Chicago Mid America 33.2 troy ounces June July September $589.00: December March June $645.00. Estimated sales: 1,792 contracts. in South Dakota, Minnesota, Iowa, Illinois, Kentucky, Nebraska and Wisconsin. Some of the stores are operated under the name Super Valu, some under the name Madsen's, and some under the name Randall's Foods, including two at Eau Claire. The Eau Claire units are the company's only Wisconsin stores.

Randall Stores buys much of what it sells from Super Valu Stores Inc. Super Valu, a food wholesaler based at Hopkins, owns the Shopko store chain, which has headquarters in Green Bay. Over the counter Bid Ask Dis Franklin El. Marine 23 Va Marshall I1 :20 Pabst Brewing. Versa Mutual funds Bid Ask Affiliated Fund.

8.16 8.80 Century Shares Trusi 11.18 12.05 Fidelity 16.67 N.L. Investors 9.00 9.78 Investors 19.50 21.20 Investors Variable Pay. 7.90 8.59 Massachusetts Inv. 12.03 Massachusetts 10.67 11.50 Newton 15.38 N.L. Nicholas Fund 12.47 N.L.

Selected Am. Shares 6.86 N.L. Wisconsin 4.01 N.L. Livestock MILWAUKEE (AP) Monday's closing cattie market: Good to choice steers 59.00-62.00; good to choice heifers 58.00-60.00; good Holstein steers 52.00-58.00; standard to low good 49.00- 52.00; dairy heifers 46.00-48.00; utility cows 42.00- 44.00; canners and cutters 37.00-42:00; commercial bulls 51.00-54.00; common 47.00-51.00. Monday's closing calf market: Choice calves 80.00-85.00, few at 90.00; 75.00-80.00; feeded bulls 95.00-110.00; feeder heiters 90.00-150.00, few at 175.00.

Monday's closing hog market: Light butchers 28.50-29.50; heavy butchers 26.50-28.50; light heavy sows 24.00; boars 23.00 and down. Monday's closing lamb market: Spring lambs 55.00-64.00; good to choice 45.00-55.00; ewes and bucks 5.00-12.00. Today's estimated receipts: 600 cattle, 400 calves, 200 hogs, no sheep. T-bill rates up slightly WASHINGTON Yields on shortterm Treasury bills rose slightly at the weekly auction Monday. The Treasury sold $3.6 billion of 13-week bills at an average discount rate of 8.035 percent, up from last week's 7.675 percent and the highest yield since 8.953 percent May 19.

The agency also sold $3.6 billion of 26- week bills at an average yield of 8.165 percent, up from 7.753 percent last week and also the highest yield since May 19, when the rate was 8.923 percent. Sugar prices climbing By The Associated Press A good thing to avoid in hot summer weather is refined sugar, which may taste good in a cold sweet drink but which is inclined to encourage discomforting body heat. The Associated Press, supermarket price researchers have discovered another reason to avoid the granulated temptation: its average price in their monthly marketbasket. survey has soared 40 percent since December. That increase, to $1.95 for a fivepound bag, offset some pleasant reductions in the average price of pork, eggs and other items.

Evidently the sugar processors have even higher prices in mind. The current survey showed the fivepound price was already up to $2.09 in Eau Claire, $2.13 in Superior and $2.39 in La Crosse. The low was $1.75 in Shawano, which was Superior's price just a month ago. If liquid sweetness is the shopper's preference, the answer may be in buying natural fruit juices from the aspect of good health as well as fiscal widsom. The marketbasket researchers reported that a six-ounce can of frozen orange juice averaged 50 cents, down two cents from December.

In the vegetable category, the average price for an 18-ounce can of tomato sauce declined 3 cents to 23 cents. A pound of ground chuck averaged $1.69, only 7 cents higher than in December, and a pound of all -beef frankfurters averaged $1.78, up scarcely 2 cents since December. A pound of center-cut loin pork chop averaged $1.43, a 23 percent decrease from December and ranging all the way down to $1.39 in La Crosse. Eggs dropped 18 percent in price, down to 49 cents a dozen in Sheboygan and averaging 53 cents statewide. Eggs.