The Journal Times from Racine, Wisconsin • 22

the Journal Tlmpv Tursdny, Dec. 1974 6C Business IIIIIIIIIIIIIINMIMIIIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIILIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIMIIIIIIIIIIIII Stocks good Yule gift for child? Briefs Rexnord seeks French firm siock M.lwaukee-based llcxnord Inc Monday announced It a cash tender offer for up In 75 per cent of the sh.i.es of A Ateliers llergeaii.l Macon A a manufacturer of mineral and rock crushing and processing machinery at Macon. France Hexnord said the offer will remain in force until the close of business in Paris Jan. 10 Assuming at least 75 per cent of the nut-standing shares are tendered, the transaction will cost Hexnord about The transaction will be financed by overseas borrowing to assist in the U.S. balance of payments program, Itexnord said Hexnord said it has obtained an option to purchase liti per cent of the out standing A M.

stock presently in the hands of the controlling group. A publicly-held company, A earned $12 million last year on sales of $15 850,000. Founded in 1H7, the French company has been a licensee of Rexnord's Nordberg Machinery since about 1954 and has about 1100 employees. Lee plans purchase of its stock Lee Kiiicrpiisi's Davenport, Iowa, announced It will buy as many as of its common shares Tin1 will be held as treasury stock for issuance to employes under stock option ftrourams, the newspaper and broadcasting Company s.ud. Based on the $12 closing price (or l.ee common Monday on the American Slock Kxcbange, the purchases would cost up to about $1 million Lee's holdings include the Journal Tunes.

The company has about .14 million shares outstanding Attorney named to Acme board Fund Qsse yaue ovvn Attorney William Kolbe of Kolbe. Sharp Brodek, 212 5th securities and in some states gifts of insurance and annuity contracts wilh a parent retaining custodial responsibilities The procedure, while simple almost any brokerage house can handle the transaction is a serious matter. The giver never can take back the gift, although thecustodianmay sell the securities if the proceeds are used for the youngster's benefit. It is, says the association, "a'complete, Irrevocable donation of one's Interest to another person." While prices of many blue chips are low, a prospective buyer must also consider that a commission must be paid. On orders of less than $2,000 that commission is negotiable, which means it might pay to shop around.

Merrill Lynch, the largest brokerage house, offers this illustration of charges on some small orders: One share at $15 a share: About a $5 minimum 10 shares at $15 a share: $8. 14 100 shares at $15 a share: $34.65 Paine Webber, one of the top five retailers of stocks, says it charges 10 per cent on odd-lot less than 100 shares orders under $100, and the following formula on larger odd-lot orders: Purchase valued at $100 to $800: 2.3 per cent, plus $7.36 $800 to $2,500: 1.405 per cent, plus $13.80 $2,500 and above: 1.035 per cent, plus $25.30 Orders should be placed well ahead of Christmas in order for the transaction to be completed. Ordinarily it takes five business days for the certificates to be readied and sent to the buyer. What prevents a parent from buying shares as custodian, thereby escaping the taxes on dividends and appreciation, and then using the proceeds for his own purposes? An association spokesman offered the opinion that some people might do so, and probably get away with it. But he reminds any parent that when the minor comes of age he or she might take the parent to court.

Never forget, the stock market is a game of risks. By John Cunnilf AP Bnlmrn Amilysf NKW YORK (AP Would you like to buy your kids a Christmas flirt a discount1 A gift that should last weUbeyond the six -hour dt'strui't time of so many toys0 A Rift that is educational and men profitable? "Don't interrupt, there's more," said the salesman, an earnest but gaunt figure, "Listen," he said, and he related how this simple, inexpensive gift might: "Protect against inflation, help pay educational costs or provide a start for a future business, teach the owner about our economic system, probably inspire him to great wealth and There was a pause: "Help a poor broker." While almost every traditional gift is higher in price this year, stocks are dopreased, so much so that few people seem to be considering them as gifts. Even the New York Stock Exchange has dropped its holiday promotion. The Securities Industry Association, which speaks for brokers, feels that this year might be a better time than ever to give shares as gifts, mainly because of the bargain prices. Nobody can guarantee those prices will rise again, but if the past is a criterion there's a very strong likelihood they will.

And youngsters have a long time that can be used waiting. Giving gifts of stock to minors once was a complicated undertaking. The share had to be registered in the child's name, leading to difficulties when the minor attempted later to sell the securities or reinvest dividends. Says the Securities Industry Association: "A broker, bank, transfer agent or any other person dealing with a minor who sought to buy or sell securities did so at his own peril." The great danger in the transaction was that the youngster generally had the power to repudiate the contract or disaffirm the sale upon reaching maturity. Now there are laws in every state that permit gifts to minors of has been named to the board of directors of Acme Die Casting Hilin Murray Ave.

Goodman elected to bank board Ziegler Fund. West Bend, said the fund's net asset value per share was $7.67 on Oct. 31. end of the fiscal first quarter, down from $7.96 on Jury 31. Net assets totaled $4,954, 109, down slightly from the July 31 total.

The fund's president. R. D. Ziegler, said that until there were clear indications of a stronger market. Ziegler Fund management would continue its present investment strategy, which is designed to conserve capital.

3 New manager named at Truesdell Arnold (ioodni.in, Chatham has been elected to the board of directors of Farmers Merchants Bank of Racine, 1(101 Milwaukee Ave. Goodman operates a property management and insurance agency at Hth St. ARNOLD C.OODMAN Mrs. Robert A. Kamerman, 2910 Michigan has been named manager of Truesdell of Racine.

613 Wisconsin a store selling women's fur, leather and cloth coats and jackets. The store is operated by Truesdell Fur manufacturing furriers at Berlin, Wis Mrs.Kammermanprcviously operated the Kamerman Gallery. 309 4th which closed in August. UMW leaders predict pact approval New. Wisco talks scheduled Wage negotiations wre scheduled to resume at 1:30 p.m.

today in a renewed effort to end a strike by 80 production and maintenance employes at the Wisco Division plant of ESB Inc at 1222 18th St. Today's talks, called by the participating federal mediatory Eugene Mlynek. were the first scheduled since an unsuccessful session Nov. 15. the day after the walkout began.

Negotiations are being conducted under a wage re-opener clause in a three-year contract that expires next November. The striking employes are represented by Machinists Lodge 437. JT production manager named Reupholstery delivered in time for Christmas and New Year if you send your sofa or 2 chairs now CHARLESTON, W.Va. (AP) United Mine Workers officials expressed otpimism today that a new contract would be approved by the rank and file, as scattered returns indicated a slim majority favoring the pact. UMW President Arnold Miller had asked locals not to release Carter said there was no clear indication of the voting trend because heavy snow had slowed the balloting.

A union spokesman in Washington said the UMW expected to have enough results in by Thursday afternoon or evening to be able to make an announcement. Early figures in eight Pennsylvania locals showed 683 votes for and 568 against the contract representing a 58.4 per cent turnout in those locals. In another local, in Cambria County, the vote was 277 against, 160 for. But in Alabama's District 20, a ANY SOFA OR 2 CHAIRS custom upholstered in damasks or tweeds preliminary vote totals "so as not to prejudice those still voting." But scattered returns representing some 16,000 miners, about 13 per cent of the union's 120,000 working bituminous coal miners, showed the agreement was gaining approval from about 52 per cent of those voting. District 12 in Illinois reported a vote of 4,194 for the contract and 4,368 against.

But a UMW spokesman said the margin of defeat in that district was not as large as had been anticipated. "It could go either way here," said Richard Carter, president of District 29 in southern West Virginia, center of an organized campaign against accepting the contract. 179 union spokesman said the vote was 2,130 to 995, with the largest local in the district still out. A union spokesman said that even if the new pact is ratified, the earliest work could resume in UMW mines would be at midnight Sunday. The UMW pulled its 120,000 members out of the pits Nov.

12 when the old contract expired, halting work at mines that produce 70 per cent of the nation's bituminous coal. The strike has brought on layoffs for another 25,000 workers whose jobs are dependent on coal, especially employes in the steel and rail industries. The miners, who earned $42 to $50 a day under the old contract, are voting on a new pact agreed upon by the UMW's 38-member bargaining council and the Bituminous Coal Operators' Association. Walter Cooper, superintendent of the Journal Times' composing room, has been named the nevvpaper's production manager, a newly-created post. Cooper will have overall WALTER responsibility for the composing COOPER room, press department and mail room, reporting to Robert D.

Ross, Journal Times general manager. Richard Jarvis, who had been in stain ond obrasion resistant Hercuon, Reg. 9, now $199. in luxury look velvets ond quilled fabrics, Reg. $279, now $229 Charge it on your MoslttChoige.

Or use out convenient terms. 5-year wnllen woikmomhip guarantee on any futmluie you send 10-DAY DELIVERY IF REQUESTED PHONE 632-5247 FOR FREE FABRIC SHOWING Grain NEW YORK (AP) Stocks-Lower. Cotton Missing. CHICAGO: Wheat Lower; liquidation. Corn Lower; liquidation.

Oats Limit lower. Soybeans Limit lower. Badger Upholstery, Inc. Eggs CHICAGO (AP) Midwest egg price report wholesale buying prices today unchanged to 3 higher; Class 1 large 58; mediums 51; smalls 44; nest-run breaking stock 44; checks 34. Cooper's assistant, has been named composing room foreman.

Floyd Welch continues as press department supervisor. Richard Smith as mail room supervisor and Donald Karkow as circulation manager. Cooper joined the Times in 1952 in the advertising dispatch department. He was a district manager in the circulation department before starting an apprenticeship in the composing room in 1956. In 1970, Cooper was named an assistant foreman in the composing room.

He became superintendent in 1972. An'ique tufting, skirls, recl-ners, wct'onaii at additional cot Livestock Foreign exchange (Quoted In American cents) (000 omitted) Dec. 2 Nov. Yr. ago England 232.34 232.60 234.52 237.00 237.00 241.30 Canada 101.21 101.30 100.07 Argentine 10.07 10.07 10.70 Austria 5.62 5.62 5.23 Belgium 2.6760 2.6880 2.5335 Brazil 13.92 13.92 16.31 Denmark 17.15 17.30 16.34 France 21.58 21.56 22.28 Germany, W.

40.10 40.46 38.21 Holland 38.68 38.99 36.28 India 12.39 12.40 12.57 Italy 1501 .1506 .1656 Japan 3330 .3334 .3575 Mexico 8.03 8.03 8.00 Norway 18.54 18.65 17.96 Portugal 4.04 4.05 4.04 Spain 1.7621 1.7636 1.7483 Sweden 23J5 23.43 22.66 Cash metals Spot Commodity Prices (Wholesale) Prev Year Today Day Ago Aluminum, lb. N.Y.. .39 .39 1 Antimony, American lb. N.Y 2.25 2.25 .71 Copper, Electrolytic, lb. N.Y 72V.74 Gold, troy oz.

N.Y. 186.05 closd 100.55 Silver, troy oz. N.Y. 4.540 clsd 3.005 Lead, lb. 24' 2 .164 Pig Iron, f.o.b.

fdry. Buffalo, gross ton. .202.72 202.72 87.92 Platinum, troy oz. N.Y. 190.00-200.00 190.00-200.00 1S8.0O-163.00 Quicksilver, Flask NY 256.00 256.00 300.00 Steel Scrap, gross ton Phila.

-Chi. -Pitts. 96.83 96.83 81.83 Tin, lb. N.Y 36.6 3.6V 2.84 Zinc, lb 20 Silver Futures CHICAGO Mid-America -December, 436.50c per troy ounce; February, 450.70c; April, 460.50c; June, 469.50c; August, 475.50c. Estimated sales, 1,983 contracts.

COINS Prices are for each $1,000 in face value of silver coins. Each contract contains 5,000 in face value. December, 3000; February. 3050; April, 3090. Estimated sales.

5 bags. NEW YORK 440.70c; 445.OOC; March, 454.00c; May, 462.20c; July, 469.60c; 476.60c; Dec, 486.20c; 489.20c; March, 499.40c. Sales 9,157 contracts. Gold quotations Monday's gold prices (In United States dollars per troy ounce); London, afternoon fixing, 1185.75, up SI. 75; Frankfurt, fixing, $189.95, up Zurich, $185.00 Old, up New York, $186.05.

Local over the counter Quotations Bid Ask Snap On Tools 23 24 Sta Rite industries t't 2 Twin Disc I6' 17'4 Versa Tech 6 6 Wis. Power Light 15 15J Mutual funds Quotations Bid Ask Affiliated Fund 5.17 5.59 Audax Fund 4.60 5.03 Century Shares Trust 8.56 9.36 Fidelity Fund 11.33 12.38 Investors Mutual 6.89 7.48 Investors Stock 12.70 13.80 Investors Variable Pay 4.70 5.10 Massachusetts Inv. Tr 7.60 8.31 Massachusetts Growth 7.42 8.11 Newton 9.35 10.22 Selected Am. Shares 5.20 N.L. Wisconsin Fund 3.75 4.09 Local interest (Courtesy of Racine Office, Harris, Upham Co.

Inc.) High Low Last i AllgLud 22' 8 21a 228 Am Motors 3 334 Pa Ametek 0H 10s 108 Cont. Can 23' 1 23' 8 23' 2 Evans 2' 2 2H 2Je 1st Wis. Corp 13' 4 13 13 Hardee 3 3 3 INCO 205 20' 2 20' 2 Koehring 4J 45 45s Lee Ent ll's lis us Massey MGIC 8 7'8 Vi Modine 16 4 MSL Ind 504 Northwest Ind 19J 9M 194 Rex. Inc. (2.36 pf) 23 Rexnord Inc 11H Schlitz Brew.

Co. 16 Wt Tenneco 21 7H Time Inc 26 26 26 Vulcan Mat 24H Western Pub 9H Wis. EIPw 21' a 204 21' Wis. PSvc 12' 4 12 12' 8 MILWAUKEE (AP) Monday's cattle market closed steady to weak; good to choice steers 25.00-37.00; good to choice heifers 32.00-34.00; good holstein steers 31.00-33.00; standard to low good steers and heifers 20.00-30.00; dairy heifers 20.00-22.00; utility cows 19.00-20.00; canners and cutters 15.00-18.00; commercial bulls 23.00-24.00; common 21.00-23.00. Calves: Monday's market closed strong; choice calves 34.00-46.00; good 20.00-30.00; feeder bull calves 25.00-30.00; feeder heifer calves 20.00-25.00.

Hogs: Monday's market closed steady; lightweight butchers 38.00-39.50; heavy butchers 36.00-38.00; light sows 32.00-32.50; heavy sows 29.50-31.50; boars 22.00-25.00. Lambs Monday's market closed 1.00 higher; good to choice 32.00-34.00; ewes and bucks 3.00-5.00. Estimated receipts for Tuesday: 900 cattle, 700 calves, 400 hogs, no sheep, horses. Whatever your number problems chances are there's a Tl calculator at Brandt's with the answer 1 1 SR-11 electronic slide rule calculator 1 VARIETY OF CRIBBAGE BOARDS Including Pocket Folding Boards from $2.50 Cribbage Table 24 STICK-IT-TO-ME MAGNETIC PHOTO ALBUM. SPECIAL $250 LEGAL NOTICES 1st pub.

Nov. 26, 12 Dec. 3 NOTICE IS HEREBY GIVEN that the annual meeting of the landowners In YORKVILLE AND RAYMOND DRAINAGE DISTRICT will be held in the hearing room on the first floor of the Racine County Courthouse, at the City of Racine, County of Racine and State of Wisconsin, on December 9, 1974, at 2:00 o'clock in the afternoon of said day, for the purpose of transacting any business that may come before the meeting. November 15, 1974. Herbert F.

Trautman Alvin P. Nelson Commissioners of Yorkville and Raymond Drainage District. 1st pub. Nov. 26 12, Dec.

3 NOTICE IS HEREBY GIVEN that the annual meeting of the landowners in HOOD'S CREEK DRAINAGE DISTRICT will be held in the hearing room on the first floor of the Racine County Courthouse, at the City of Racine, County of Racine and State of Wisconsin, on J)ecember 9, 1974, at 10:00 o'clock in the orenoon of said day, for the purpose of transacting any business that may come before the meeting November 15. 1974. Charles M. Creuziger Henry J. Kuiper LeRoy E.

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