The Journal Times from Racine, Wisconsin • 29

it 4 a Classified, page 5 Obituaries, page 6 5. the Journal Times Thursday, Dec. 22, 1983 autirfbai Builders eye a hammerin' good 1984 By Robert Furiow Associated Press WASHINGTON Though nervously eyeing interest rates, the nation's home builders and sellers are forecasting that 1984 will be a good housing year to follow up their booming 1983. Construction, to take one long-suffering part of the industry, hit its lowest level in 25 years during 1982. But it is bouncing back this year, with the latest figures showing housing starts up 63 percent for the first 11 months of 1983.

And barring any big increase in interest rates or a completely unexpected big decline home construction should be about the same or slightly higher and sales should be up at least a bit next year, analysts say. For consumers, houses will be more expensive but not horrendously so. Loans should be available. Economists are generally agreed that deficits continuing at that level eventually would push interest rates higher, making it tougher for builders to get construction loans and nearly impossible for some prospective buyers to get home loans. If that happens, the consequences could be widely felt, because housing's health affects the well-being of other industries, including lumber and appliances.

In the words of a recent analysis from Chase Econometrics, a private forecasting firm, "an interest rate rebound, in response to either ballooning federal government deficits or a renewed surge in inflation, would derail the recovery in housing and durable goods expenditures and would, therefore, abort the recovery" of the economy in general. But that's merely the worry, not the expectation for the short term. In fact, Riedy said he expected home loan rates to decline by mid-year from the First-time buyers will be taking a bigger share of the market. Of the major regions, the South and the West will be taking smaller shares, though Still remaining dominant. Foreclosure proceedings should continue downward as more home-owners laid off during the recession get their jobs back.

By all accounts, the good news could turn sour if interest rates begin to surge back to pre-recession levels of more than 20 percent on construction loans and 18 percent on mortgages. And builders, buyers and sellers probably won't have much to do with that. "The great bugaboo remains the federal deficit," said Mark Riedy, executive vice president of the Mortgage Bankers Association of America. Congress is likely to take "at most, feeble steps" to reduce the government's red ink from the record 1983 level of nearly 1200 billion, he said. knocked down to 2.7 million the next year by rising interest rates and a generally slowing economy.

This year's resales of single-family homes are going for an average selling price of about $69,900, up just 3.1 percent from last year, Carlson said. Housing inflation should pick up to about 6.4 percent in 1984 along with an expected increase in prices for other items in the economy. By regions, Sumichrast said the South will still lead the nation in building by a wide margin, though 1984 starts are expected to slip to about 885,000 from the 927,000 of this year. He expects housing starts to decline to 365,000 from 371,000 in the West, rise to 230,000 from 214,000 in the North Central states and increase to 205,000 from 176,000 in the Northeast. The top two states for 1984 Texas and Florida are both in the South, and No.

3 is California in the West. present 13-to-13 5 percent range perhaps by a full percentage point. Michael Sumichrast, chief economist for the National Association of Home Builders, said he expected a half-point decline. They and others said the main housing strength would be in the first half of the year before an expected stiffening in rates. In other major projections: Sumichrast said housing starts should total about 1.7 million next year, about the same as this year and "not a bad year for us." Riedy was more optimistic, forecasting 1.8 million or slightly more in 1984.

Both said single-family homes should do better than multi-family buildings, especially with first-time buyers moving into smaller houses with fewer frills. Resales of houses built in previous years should hit 2.74 million this year, up 38 percent from 1982, according to Jack Carlson, chief economist for the National Association of Realtors. Such sales should climb to 2 95 million in 1984 before being Isiw off By David Pfankuchen Journal Times KENOSHA American Motors Corp. said it will lay off indefinitely 700 hourly employees at its Kenosha plants in reducing auto production there by 9 percent. AMC said today that it will suspend production at Kenosha for the entire week starting Monday, Jan.

2, a holiday. When production resumes Monday, Jan. 9, output will obh jto ff' M' i V'5 1 I p. 4- 'V By Don Kandall Associated Press WASHINGTON Only a generation or so ago, one American in six lived on a farm. Today, only one in 41 still resides on the land, says a government report.

In 1982, the nation's farm population dipped to 5.62 million people, a decline of 170,000 from 1981, the smallest drop in four years. The report described the reduction as "not statistically significant." Even so, farm residents made up only 2.4 percent of the nation's total population about one person in 41. One of the report's authors said the smaller decline in the farm population last year probably continued in 1983. The annual report was issued Wednesday by the Commerce and Agriculture departments. It said the 1982 farm population numbers were an average over a period centered on April 1982.

According to the figures, the 1982 Times photo by Mark Hertzberg cHHst6r Issst 3dnriii6c9 Work around line serviced by the city water utility's lift station west of of Washington where taken. Jim Schmidt, Oconomowoc, cuts a 60-inch storm sewer pipe that will be installed near the proposed Western Publishing Co. rail spur. The hew line will relieve the load on of cars, has now been attained, he said. Northard also noted that larger cars are now selling faster than smaller ones.

He added that AMC's production schedules call for building 56,000 Alliances and Encores during January, February and March. That compares with actual production of 40,000 Alliances during the same months last year. The Encore, a hatchback version of the Alliance, went into production last summer. 1959, the farm population was down to 16.6 million people, only about one in 10. Other observations in the report: In 1982, the U.S.

farm population was 95.9 percent white, compared to 85.4 percent for the non-farm population; and 3.2 percent black, compared to 12.1 percent non-farm. Those were the only breakdowns by Farm residents of Spanish origin, who can be of any race, were shown at 2.3 percent, compared to 6.4 percent of the non-farm population. Seventy percent of the farm were married and living with spouses, compared to 54 percent of the non-farm women. Among men, 68 percent lived with spouses, compared to 60 percent of the non-farm men. Only 3.6 percent of the farm labor force was jobless in 1982, compared to 9.5 percent of non-farm people.

However, many farm residents who lost non-farm jobs were not counted as jobless because they retained farm jobs. The survey ranked 250 companies in 25 of the nation's largest industries. Over 7,000 corporate executives, outside directors and financial analysts were polled, Fortune said. The respondents, in 25 groups, were asked to rate companies in their own industry on a scale of 1 to 10 on eight attributes: quality of management; quality of products and services; innovativeness; long-term investment value; financial soundness; ability to attract, develop and keep talented people; community and environmental responsibility; and use of corporate assets. S.C.

Johnson Son 1525 Howe said Ronald J. Lemer-ond has been named director of international safety and manufacturing services, effective Jan 1. Lemerond currently is director of information resource management for Europe, Africa and the Near East. He joined Johnson in 1967. In addition, Johnson said Robert A.

Thygeson has been named director of safety and environment for manufacturing, also effective Jan. 1. Thygeson currently is director of international manufacturing services. He joined the company in 1960 The Conference Board said the amount of help-wanted advertising in U.S newspapers rose for the third straight month in November. The board said its Help-Wanted Advertising Index rose to 114 in November, up three points from October's 111 and up 36 points from 78 last November.

Kenneth Goldstein, economist at the Conference Board, said the recent steady rise in want-ad volume "clearly suggests that the pace of new hiring will continue to be fairly strong in the first few months of 1984. One note of caution, however, is that the economic forecasts are indicating that business in general, and labor market conditions in particular, may be slowing down by spring." the Help-Wanted Index measures the volume of classified advertising in 51 major newspapers nationwide. diops be cut to 1,050 cars a day from 1,150, AMC said, and the hourly work force will be reduced to 7,700 workers from the present 8,400. The Kenosha plants build the Renault Alliance and Renault Encore subcompact models. AMC spokesman Lloyd Northard that when output was raised in October from 900 cars a day to 1,150, the object was to build dealer inventories up to a reasonable level.

That level, a 60 to 70 day supply slippage compared with annual declines of 261,000 in 1981, 190,000 in 1980, and 260,000 in 1979. The farm population showed a slight increase in 1978. As currently defined by the government, a farm is a rural place which had or would normally have annual sales of agricultural products of $1,000 or more. In USDA records going back to 1910, the nation's farm population reached a peak of more than 32.5 -million people in 1916, which was 32 percent of the U.S. population at that time, or about one of every three Americans.

Although the farm population did not decline every year since 1916, the trend was generally downward. In the Depression years of the 1930s, for example, the farm population increased from about 30.5 million in 1930 to 32 4 million in 1933. But by 1939, however, it dropped back to 30.8 million. But as the large migrations from farms to cities took hold during and after World War II, farms were drained rapidly of their people. By ceuticals concern; and Johnson Johnson, another maker of pharmaceuticals.

Time General Electric Anheuser-Busch Coca-Cola Co. and Boeing Co. followed. Ranking among the least-admired behind the farm equipment and truck manufacturer were Eastern Air Lines Manville Pan American World Airways American Motors Republic Steel Corp Pabst Brewing Trans World Corp Warner Communications Inc. and United States Steel Corp.

Orders to factories for "big ticket" durable goods climbed 4 percent last month, largely because of an increase for military goods, the Commerce Department said today. The report said November's gain was the largest since the 7.6 percent of June and followed an increase of 2.6 percent in October, rather than the previously reported 3 percent The value of new orders rose $3.7 billion to $97.1 billion, the department said, including an increase in orders for transportation equipment and metals and a decline for machinery. John J. Louis Jr. of Winnetka.

111., who resigned effective Nov. 7 as U.S. ambassador to Great Britain, has returned to the board of directors of C. Johnson Son? Inc 1525 Howe St. He replaces his brother, Dr.

Herbert J. Louis of Phoenix, Ariz who resigned, Johnson said. Louis a first cousin of Samuel C. Johnson, the company's chairman land chief executive officer, left the board in 1981 after accepting the ambassadorship. His brother, an orthopedic surgeon, was elected to fill the vacancy.

Tenneco Newport News Shipbuilding Dry Dock Co. subsidiary in Virginia has received a $10.9 million Navy contract for engineering and design services involved in planning for overhaul of the aircraft carrier Eisenhower. Local krtemst Courtesy Robert W. Balrd A Co. Inc.

Quotations as of 10:30 a.m.: Net Chng -V NC NC NC NC -V NC 1 NC NC -V NC 1 NC High Low Last Allag.lnt H'A 32 33'A Am Motors 7 4 41 Amotak J7Vi MVt Bucyrut 17 I7V4 I7H Cont. Can SM S3 534 Dana Corp 30 Dayton Hud. Corp 31 30 311 Enw. Eloc 7H U'k 47H Evant Vi First Wit Corp 10' 20M 20' Cn.Slg.Corp SOH SOU SOV Couldlnc iVt 31 31' Inco 15 I4H 14 33 33V4 33H Lt 24 Lavl Strauss 42 41 42 Massay 4 4 4 Mattal Inc Sv SVt Mattal 13 13 13 AKodlna 27 Raanord 17V4 17j 17'i Snap-on Tools 31' 30' 314 ..40 40V 40V Taitron Inc 32 32 32 Twin Disc Jl Vulcan Mat 5V 4Vi ttVi Wlcor Inc 21Vi 20 20 Wis 61 Pow 27 27 27 WIsPSvc 'A 2 2 WisPwrt.Lt 2tv. 2ivt Foreign exchange (Quoted In American Dec.

21 1.4200 cents) Dec 1. 4205 .0470 .1740 0113 0177 0011 owe .0101 .3220 0M0 1.1215 .0100 000 .0041 .001 .1212 .007 .2174 .001 .1211 .452 r. Ago .0000 724 0S2 .0213 .0041 .1111 .147 .411 .0142 .377 .10.10 1.3M0 .0104 .0007 .0042 .000 .1421 .0112 207 .007 .132 Ehgland cinada Argentina Australia Austria Belgium Braill Denmark France Greece Holland India Ireland Israel Italy Japan Menico Norwey Portvgal Saudi Arabia Spain JUS 0512 .0177 00)1 nm 1IM .3404 0101 320S OTSO 1 120S .0100 0004 .0041 0MI I27 0074 .2171 .003 .1233 .4517 Over the counter Bid Ask Marin Corp. 1 40 Marshall II Corp 4' 4 Stearns IVk 4V VartaTech IS isv Journal us DoBar, gold LONDON (AP) The dollar retreated on European exchange markets early today In continued thin pre-Chrlstmas trading. Gold bullion prices were little changed The dollar, which reached record high levels against the French and Italian currencies in Europe Wednesday before declining In the United Stetes, opened slightly lower against all maior currencies except the Swiss franc West German dealers said the dollar was under brief pressure from a lower-than-expected estimate of a 4.5 percent growth In the U.S.

gross national product. But overall there was scant market-related news at the start of trading, they said. In Tokyo, the dollar eased for a third straight day, closing at 234.40 Japanese yen, compared with 235 yen Wednesday. Later In London, the British pound rose fractionally to SI 425S, from Vvednesfley. Other mid-morning dollar rates compared with lete Wednesday Included: 2.7MO West German marks, down from 2 7715 2 21125 Swiss francs, up from 2 21075 1.425 French francs, down from 1 435 1 1105 Dutch guilders, down from 1 1135 l.MI 00 Italian lire, down from 1,612 00 1.2455 Canadian dollars, down trom I 2475 Trading in gold bullion also was light ahead of the Christmas holidays At mid-morning, London's bullion houses find a recommended gold price of tl7l0 a Troy ounce, down a dollar from the opening bid but up tS cents on Wednesday's closing rate of S37I.2S.

In Zurich, gold traded at S37I 50, up trom S377 I0 late Wednesday Eerller In Hong Kong, the metal rose 11 7 to finish at a bid of 1302 55 Silver bullion wes quoted In London at an ounce, virtually unchanged from Wednesday's 75 livestock MILWAUKEE (AP) Wednesday's cattle market: choice steers 500-41 00; choice heifers S4 00-5 00; good to choice Holsteln steers 47 coil 00. standard steers 40 00-44 00, delry heifers 40 00-44 00; utility cows 34 cenners and cutters 10 00-34 00; commercial bulls 41 00-47 00 Common bulls 40.00-42 00. Wednesdays calf market: choice veal 0 good veal SOOO-4000; feeder bulls 70 00-0 00; replacement heifers 40 00-50 00 Wednesday's hog market: Light and medium butchers 43 50-47 SO; heavy butchers 41 50-43 50; light and medium sows 34 00-34 00; heevy sows 14.00-1 00; boars 30.00 and down. Wednesday's lamb market good to choice 35 ewes and bucks 5 00- 00 Thursdev's estimated receipts: 700 caftle, 400 calves, 100 hogs and no lambs Eggs CHICAGO (API Wisconsin's eoo market Wednetdoy wes firm with prices two cents high-er Supplies were about adequate, demend was very good. Prices: Grade A large medium Vt nuclear power unit in that state.

Also on Wednesday, the debt-rating service, Standard Poor's cited the risk of cancellation of the Zimmer nuclear power plant in lowering to "speculative" grades the existing and wastewater the 800 block the photo was NEW YORK (AP) For the second year. International Business Machines Corp. is the most admired of the largest U.S. corporations and International Harvester Co. is the least admired, according to the results of a Fortune magazine "survey released Wednesday.

Right behind the office equipment and computers giant on Fortune's most-admired list were Dow Jones publisher of the Wall Street Journal and other publications; Hewlett-Packard also a computer and office equipment company; Merck a pharma- Business bits Compiled by David Pfankuchen Brookfield-based North Shore ings and Loan Association said as been given federal and state approval for its acquisition of Ra-cinebased Southeastern Savings, 1601 Washington Ave. The acquisition givMWor4h Shore 17 offices and assets of ($475 million, said North Shore president James F. McKenna. A 24-hour restaurant called Scorpio's is expected to open at the end of January at 5016 Washington Ave. where the former Sambo's restaurant, operating under the name Season's since early this year, operated.

Scorpio's owner, in partnership with Steve RaDtis. is Gus DimitroDO- lous, a former partner in Andrea's restaurant at 623 Wisconsin Ave. Dimitropolous, who is leasing the building, said Raptis, a chef, will do the cooking. mart Troy, said it has completed acquisition of Bishop Buffets Cedar Rapids, Iowa, a cafeteria chain. The value of the transaction is about $27 million.

mart said Bishop's shareholders will receive about 1.4 shares of mart common stock for each share of Bishop held. Gram futures CHICAGO (AP) Futures trading Chicago Board of Trade Wed WHEAT 5,000 bu. minimum; Dollars per bushel Open High Low Last Mar 1.40V) 3 it 3.S0 3 SV'i Chg 0)V May ....3 Sv 15 I 3 S' Jul 1.40V 3.4311 3 40 3 41 Sep 3.4 3.4 3.47 3 47 Dec 3.40 1 IV4 3.5 3 40'1 Mar 3 70V 3 70 3 70V ufSPrev. sales Prev day's open Int 55,420, off 90. CORN 5,000 bu minimum; Dollars per bushel Mar 3 3 137 13 3 37V May 3HV 3.1V 1 17 3 Jul 3 37 3 11 3 31' Sep 3.12V 1.13'A 3 11 1 I2'1 Dec 2 1V 2 94'A 2 2 2 2 'A Mar 3 05 3.05 3.02V 3 03 May ...3.11 111 1.10V 1.10V Prev.

sales 2,735 Prev day's open int 20,753, oft 542. OATS 1,000 bu minimum; Dollars per bushel Mar I ttV 187') 1 6'4 1S4V May im Jul 1 MV 11 11' I Prev. sales 525. Prev day's open int up 41 SOYBEANS 5,000 bu minimum, Dollars per bushel Jan 7 4V 7 07 7 7' 7 7 Mar 1.02V 103V 75 7 97 May 0 12V 114V 10 109 Jul IfV 120 II 8 12 Aug 05 1 05') 7 9' 7 99 Sep 7 41V 7 45 7 40 7 41 Nov 4 5 4 95 4 0 4 92 Jan 7 0 7 0 7 05 7 05 Mar 7.11 7 II 7 II 7 ia 02'. 01 .01 'It 00 00' 04 -07''I ''j -01 Prev.

sales 44.511 Prev day's open Int 121.411, off 3,13 Mutual funds Value 9J ...13 55 19 6 ....11 00 .16 14 105 .12 79 .11 94 ...219 .25 41 95 Price 10 09 11 SI 1 99 a 47 13 7 1217 L. Affiliated Fund Century Shares Trust Fidelity Fund Investors Mutual Investors Stock Investors Variable Massachusetts Inv. Tr. Massachusetts Newton Growth Nicholas Fund Selected Am. Shares Silver and gold Sliver Chicago Mid America 1.000 ounces December si 70; Februery tl 7, Merch II 17; April si 95.

June I 02, July S9 25, August so.llj previous sales 40 contracts GOLD Chicago Mid America 11 troy ounces February sill 50; March 1315 00. April 50; June 1N5.S0; October 1410 00. December S4I 00, previous sales 354 contracts its ratings on the debt of the part ners involved in building the troubled facility at Moscow, Ohio. The utilities include Cincinnati Gas Electric Dayton Power Light Co. and Columbus Southern Ohio Electric Co.

nv TasEc forco, utility nix two nuclear plants Associated rins INDIANAPOLIS, Ind. A special task force has recommended the Marble Hill nuclear power plant in Indiana not be completed, and a North Carolina utility canceled a.