The Herald-Palladium from Benton Harbor, Michigan • 16

7 i' 4 PAGE SIXTEfi. THE NEWS PALLADIUM, BENTON HARBOR, MICH. MONDAT, FEBRUARY 1, 1965 Heating anies Can Continental NEWS OF MARKETS Gomp To Merge New York Stocks Noon Prices- New Plant To Be Built In Wisconsin WaU Street Takes Turn Downward Name J. Man Board Chairman As quoted by WM. C.

EONEY A GROUND FLOOR VINCENT HOTEL Member 'W. New York Stock Exchange The most complete line of heating equipment in the coun Allied Ch 57H Am Can 43 try has been foreseen by company spokesmen in the acquisition by Basian-Morlev LaCROSSE, Continental Can Company, the nation's leading' producer of beer cans, plans to build a can manufacturing plant here, Ellison Hazard, president of the company, announced today announcement was made at a LaCrosse press con Int Nick Int Tel Tel Kennecott Kimb Clk Kresge, SS Kroger LOF Glass LaPorte, manufacturer of 81V4 62 57 55 59V4 ...85 VCV" ED heaters and boilers, of majority stock in Kritzer Radiant Coils, uatavia, 111. Announcement of the" acquisi American Cyanamid 77 Amer Elec Power 474 Am Motors 14V Am Rad 21 Am Tel Tel 67 A.M.F. 18 Armour Co 49 Bait Ohio 3 Beth Steel 37 V4 Brunswick 10 Budd Co 15 Ligg 4 My Until Mominf ference luncheon for more than NEW YORK (AP) The stock market settled irregularly lower early this afternoon. Losses of fractions to around a point outnumbered losers among key stocks.

The sustained rise of the market, which carried through four weeks and resulted in topping the 900 line in the Dow Jones industrial was running into mild profit taking, brokers said. tion came from Carl E. Schultz, Mead Cp. 45 Twin Cities -industrialist and Monsan Ch 89 50 business and civic leaders including Wisconsin Governor Warren F. Knowles.

Construction the plant, president of Bastian-Morley, Mont Ward 38 Nat Cash 79 and Henry. E. Kritzer, pres ident of the Kritzer firnv. Today's Weather Map which will supply the Heile- Nat Dairy 92V Schultz, who also is president NY Central 51 man Brewing company, is Burroughs 3 Hi Calum 19 Can Dry 35 of the Benton Harbor Malleable scheduled to begin this spring, Nat Gypsum 42 Prices were moderately high Industries, will become chair Nor Pac 51 Outboard Mtr. Mar.

16 NEW YORK Snow is predicted from the Lakes area and the Tennessee valley to the norther Atlantic states on Monday night and showers in the south Atlantic states and eastern Gulf coast, Cold air will cover the nation except for the middle Atlantic the eastern Gulf area, southern California and the Pacific northwest." (AP Wirephoto Map) Parke Da 34 according to Mr. Hazard announcement. It will be a bne story building with approximately 48,000 square feet of area and will include manufacturing truck and rail load Penney, JC 68 Cdn Pac 64 Case, JI 19V4 Ches Oh 71 Chrysler 59V Cities Svc 83 Comw Ed Cont Can 51 Copper, Rng 38V4 Curtis Pub 12 Pa RR 40 Phelps 72V4 er at tne start and the pace of trading was about equal to Fri-day's iast rate; but as prices softened dealings grew slower. Steels turned lower on' balance after an early advance. The trend was lower also among rails, oils, electrical equipments and rubbers.

Auto stocks turned irregular. man 'of the board of the latter, while Kritzer anc Henry Kritzer, will remain as president and secretary-treasurer, respectively. James E. Challenger, executive vice-president of Bastian-Morley, will assume that position with Kritzer's. Chairman Schultz said, "No ing, office and service facilities.

Phill Pet 57 This newest additibn to Con i Lonllard 44 Pure Oil 59 tinental's manufacturing facilities is expected to employ about' Detroit Steel rr 13 Rayonier 43 Eastern Tour Is Slated By Romney 40 persons and add approxi Dow Chem 80 Building materials, aerospace Raytheon 23 I I In mately $300,00 annually tor the Du Pont stocks and drugs remained on i vni ir East Kod the upside. The Dow Jones industrial av LaCrosse area payroll total. It is the first major step in the industrial revitalization of the changes in sales distribution are contemplated, but this wedding of one of the oldest manufacturers of quality hydrnoic boilers, water heaters, and space heaters with Kritzer long a leader in the manufacture of El Auto Z2Mt 1 rs! If 17 1 Emerson Radio 12 erage which had been up 1.10 at the end of the first half hour MONEY'S LaCrosse areain many years. Erie RR 6 Ex-Cell-0 42 was off .43 at 902.43 at noon. The Associated Press of 60 stocks at noon was up t-olt 14V, residential and commercial finned radiation, convectors, unit WORTH RCA 31 Repub Stl 43 Sears Roeb 130 Shell Oil 61 Sinclair 58V4 Soceny 91 Sou Pac 40V4 Sou Ry 59V4 Sperry Rd 14 Std Oil Cal 73 Std Oil Ind .77.7 44 Std Oil J.

87 Talon Inc. ..7......... 29 heaters, and fan coil units, will .3 at 337.5 with industrials up) from the nucleus for mdus- LOCAlT FORECAST (By S. Weather Bureau at Detroit for this area of the Michigan fruit belt.) HOW SAFE IS SOCIAL SECURITY? Mot 55 Freept Sul 51 Gen Elec 99 Gen Fds .7.... 83 Gen Motors .101 Gen Tel Elec 37 Gillette 32 expansion in the hydronic industry.

LANSING (AP)-Gov. George Romney will speak to government and private organizations on four stops of a Washington, D. York City trip Wednesday and Thursday. The governor's office announced today this schedule Wednesday afternoon ajj lib remarks to U. S.

Chamber of Commerce awards meeting. Wednesday evening Master of ceremonies at dinner for This month the number of beneficiaries on Social Se .2, rails off .1 and utilities up .5. General Motors held a fractional Chrysler -cut an early jise exceeding a pointy to a. fraction. Ford.

and American curity retirement, survivor and disability rolls will cross the 20 million mark." In February alone they'll receive Texas Co ttttt 83V Goodrich 7. ssmT Icebreakerlz nearly $1.4 billion. By THE ASSOCIATED PRESS Goodyear 4714 Motors eased Union Bag-Camp 7T777rrrrr36 Un Carbide ........132 Southeast and Southwest Low funds ran U.S. Steel also remained a Gt No Ry 58Vi Hammer Pap 41 er Michigan system eacn momn are now ap By investing Social Secur United Fruit 18 little higher. Hazardous driving warmng.

ity funds solely in U.S. securities proximately payments going out to beneficiaries, and Social Un VT. 43v Losses of about a point were womestK 46 Is Eccort, In And Out isn the Treasury simply "is 111 Cent 52 US Rub 65V4 Additional 2 to 5 inches of snow today. Windy with snow and Security is virtually on a pay taken by such stocks. as General Electric, Westinghouse Elec suing IOUs to itself and increas US Steel 53V4 blowing snow today becoming ing the national debt?" tric, Eastman Kodak, IBM, Po west un Tel 34V4 inland Stl 4334 Int Bus Men" 447V4 Int Harv 79V4 International Packers 12 as-you-go basis.

But what would happen if an economic downturn pushed hundreds of thousands of new retirees onto laroid andTexaco. Woolworth 28 This oft-repeated charge is without foundation. First, the GRAND HAVEN AP Du Pont rose nearly 2. Zenith Rad Trrr. 66 Social Security system is fi Social Security rolls and slash nancially independent and self- Additional Listed Securities Local (Supplied By Berrien Securities, Inc.7 219 East Main) ed contriDutions to tne sys Michigan Congressional delegation, Thursday morning Talk to administrative aides of Thursday evening Main speaker at $110 a plate fund-raising charter day.

dinner for the private Long Island University. Romney will return to Lansing Friday. Watervliet Hospital ADMISSIONS WATERVLIET Patients The S. Coast Guard icebreaker Mackinaw, after a weekend trip to the southern reaches of Lake Michigan, escorted the tanker Meteor into tem? What safeguards exist to suporting; benefits are paid not by the U.S. Government but out of the contributionsXwe make Prices were irregularly er on the American Stock change.

Corporate and U.S. government bonds were mostly unchanged. LIVESTOCK protect our benefit checks? The answers are of keys im as employers, employes and self-employed. Second, the portance to you either as a Grand Haven today. Besides clogging the channel, an ice Noon market furnished by BERRIEN SECURITIES, INC.

Bendix Corp 46Vfc Clark Equipt 54 Consolidated Foods 46V4 Electro-Voice 6 beneficiary or as an individual field extended about two miles Treasury pays the going rates on funds it borrows from Social paying Social Security taxes offshore from Grand Haven. Schlumberger 77V4 Standard Kollsman .....11 Whirlpool 73 Noon market furnished by BERRIEN SECURITIES, INC. Albion Malleable 10-11 B. H. Malleable 7Vi-bid Holly-Grills, Inc.

2-3 I Elec 90W95V4 Our Social Security system The Mackinaw Saturday freed has two major bank accounts Security and it must redeem the securities on the system's demand. Third, the fact that the Old Age and Survivors the empty, outbound Meteor from an ice, trap in Grand CHICAGO (AP). (USDA) -Hogs butchers 50 higher; 1-2 190-225 lb butchers 17.50- flurries during the afternoon. Continued heavy flurries or squalls near Lake Michigan tonight and Tuesday otherwise mostly coludy with a few snow flurries. Nearly steady or slowly falling temperatures 1 0 a much colder again tonight and Tuesday.

Low tonight 5 above to 5 below. High Tuesday 7 to 15. Outlook Wednesday, partly cloudy a few snow flurries and continued cold. Highest temperature Sunday, 21, lowest, 11. Highest temperature one year ago today39vJowest, 35.

Highest temperature this date since 1872, 54 in 1933, lowest, 4 in 1898. The sun sets today at 5:48 p.m. and rises Tuesday at 7:46 a.m. The moon sets today at 5:43 p.m. and rises Tuesday at 8:40 a.m.

Today's Readings admitted to Watervliet Commun Hammermill Paper 41 Mich. Gas Util 25V4-254 National Std 35-35 North ind. 64 Insurance trust fund and the Haven then moved to ice-clear Social Security buys Treasury issues doesn't increase the na Disability Insurance trust fund. ity hospital over the weekend were: lM5f-around 75headatU8.00;- ing duties in St. Joseph and re These funds now hold an enor tional debt.

What increases the Watervliet Mrs." William mous $22 billion in "extra" ac turned as escort for the fuel-laden Meteor inbound to Grand national debt is bigger govern cumulated reserves, clearly Frobel, Box 611; Mrs. Edwin ment spending than income and Haven. He Has A Solid Ten-Year Iliff, 346 Paw Paw; Mrs. Jo- resulting Treasury borrowing. warrant the description the "largest financial trusteeship in sepn Fhilyaw, 457 Paw Paw, If Social Security didn't buy the Treasury's issues, others Benton Harbor Mark Cox.

Record Of Stock Losses history." i GAINING INTEREST 2547 Pipestone; Mrs. Benjamin would. TAXED TWICE? Local Grain Price Quotations BUCHANAN iuiytycr, route 4. Social Security's trust money Coloma Mrs. Hattie Rogel.

is invested in U.S. Government Aren't contributors to route 4. securities paying interest rang By SAM SHULSKY Q. I've done it again. I Grain and feed price quota Social Security "victims of double taxation" because they Covert Jimmie Parnell, ing from 2V4 to 4 per cent, mixed 1-3 190-230 lbs 17.00-17.50; 2-3 250-275 lbs 16.00-16.75; 1-3 400-500 lb.

sows 13.50-4.50; 2-3 500-600 lbs 13.00-13.50. Cattle slaughter steers steady; seven loads prime lb slaughter steers 25.75; high choice and prime lbs 24.75-25.50; choice lbs 23.50-24.75; good 20.50-22.75; high choice and prime lb slaughter heifers 24.00-24.25; choice- lbs good 19.50-22.00; utility and commercial cows J2.50-14.00; cutter to com-mer rial tolls 14.00-18.50. Sheep '200; wooled slaughter lambs steady; good and choice 85-105 lb wooled slaughter lambs 22.50-24.0Op cull good wooled slaughter ewes started out for the broker route l. Most new investments return 4 pay not only Social Security I Alpena 26 11 where I sold out a long list of Hartford Mrs. Roger Hall-' per cent or more a year.

taxes but also 'income taxes to stocks at a loss, determined to While interest from its invest cover the interest the U.S gren, 118 Paras Hill; Mrs: Grant Hitchcock, 7 South Ma put au the money into A.T. Treasury pays on securities Instead he talked me info out- Robert Bennett, Box 231; ments constitutes only" a fraction of Social Security's total income about $600 million held by Social Security? tions today by Buchanan Co-op: No. 1 Yellow soybeans, $2.78 steady No. 1 while. oats, 36 lb.

test weight, .77 No. 2 rye; ite'ady No. 2 .86 steady Yellow ear corn, $1.15 steady Yellow shelled corn, $1.18 steady Red wheat, $1.40 steady Whitewheat, $1.40 steady tnjg au tne money into American Radiator Standard Sani unda ueLoacn, 403 west Bernard. This commonplace charge last year this income -morel also- is baseless. The central tary.

I've been' in the market Lawrence Mrs. Esther than covers the system's entire 10 years all losses. Norton, route 2, point is that the U.S. Treas ury sells securities to all com administrative costs. A.

The area "between be Why aren't the funds in Grand Rapids 16 11 Houghton 16 7 Pellston 22 12 Traverse City 15 10. DETROIT (AP) The five-day forecast: Temperature will average around 14 degrees below- the normal high of 33 and low of 21, Colder Tuesday then quite cold throughout the period with day to day changes rather minor. Precipitation will total around one-tenth of an inch as occasional periods of snow flurries. BIRTHS ers and pays interest on all its If Social Security ing stubborn and being influenced ts- a vague one in invest vested in corporate stocks and bonds which might return more Watervliet a girl weigh EDWARDSBURG didn't buy any U.S. securities, other investors would and to the system, than U.S.

secur ing 7 pounds, 8V4 ounces was born to Mr. and Mrs. Roger ities? your income taxes still would Alsphaugh, route 1, at 2:59 By law, the funds must be Agreement On Contract be used to pay interest on those a.m. invested ONLY in U.S. Treas securities.

Coloma A girl weighing tioned "leased-line rail stocks." Would you please explain and give some examples? A. A "guaranteed and leased line'railroad stock is a share in a railroad often a relatively short line which has been leased by another, larger railroad for anywhere up to 999 years. The practice began more than 100 years ago when rapid rail expansion was "under way and trunk system wanted to get control of smaller lines without having to raise the money to buy them. ty The dividends on the leased line stock are guaranteed by the larger road and, as a matter of fact, are an operating charge which must be met even before the interest is paid on the renting road's own first mortgage. As a result, the investment standing of the leased line stock almost always reflects the financial strength of the lessee system.

Also, the dividend is fixed, so that there is no chance for increased income, no matter how prosperous the small line on the system may become Yields are generally good, ranging from 4 and a fraction per cent' for the AA, topqual-ity issues up to 5V2; 6 and even 7 Tier cent for those leaspd- Social security funds are as 7 pounds, 11 ounces was born carefully protected as any fi to Mr. and Mrs. Oscar Wright, nancial trusteesehin in the route 3, at 4:56 p.mt Saturday. world," declared Social Secur Voters Defeat ity Commissioner Robert Ball in DISCHARGES Watervliet Claude -Trow an interview- They must be School Merger Involved in this trus ury securities as a double-barreled safety measure, U.S. Government obligations are backed by the entire economic-financial might of our nation.

Also, this requirement is' designed to protect private business: If these vast funds were invested in private securities, they could exert a' dangerously powerful government influence on our" stock and bond markets and could become, -in the words of the Social Security Administration, "a means of direct pub teeship is the personal financial MECOSTA (AP) A referen- security of every one of us. Grain and feed price quotations today by. Cleveland Son Edwardsburg: No. 1 Yellow steady No. 2 Red wheat, $1.39 steady No.

2 oats, $. 75 steady No. 2 rye, $1.00 steady No. 2 Yellow ear Corn, $1.15 steady No. 2 Yellow shelled corn, $1.18 steady No.

2 barley, .85 steady BUTTER and EGGS CHICAGO i a 0 Mercantile Exchange Butter steady; wholesale buying prices unchanged; 93 -score AA 57; 92 A 57; 90 56; 89 55; cars 90 56; 89 56. Eggs steadier; wholesale buying prices unchanged to 1 higher; 70 per cent or better Grade bridge route 2: Mrs. Doyle Yingling and daughter, Main street; Mrs. Donalu Collier, 833 Mrs. Clinton Flynn, 818 Peach Tree.

dum to merge the Mecosta- Remus and Barryton high ments, ust as it is in buying a car or a suit of clothes. There are times to stand fast, and times to take advice. I can't tell whether you made a grievous mistake, or not except that I don't like that "all or nothing" approach, whether applied to A.T. or American-Standard or anything else. It seems to me that anyone with as little as a few thousand dollars to invest ought to.

have at least a couple issues in his strongbox. You give no data on your investment needs, or goals. If you want income, American-Standard can give it to you. It yields close to 5. per cent, at present market, and the $1 dividend, it is estimated, was more than twice covered in 1964.

It's paid a dividend, and often a generous one," for nearly 30 years without a break. Of course, the company is solidly tied to the building industry and talk of continued easiness in home building hasn't helped its market price. It's a cyclical Benton Harbor Mrs. School districts failed Saturday. Barryton district voters turned down the proposal '524 to' 424.

Mecosta-Remus voters approved Charles Miller, 258 East Parental Neglect Is Topic For Safety. Council Coloma Gary Papke. route the plan 397 to 131. The proposal had to pass in both districts to take effect. Karen Herman, 231 Church; Albert Freier, route 1.

Covert Mrs. Clarence Wherry and daughter, Box lines guaranteed bv svstems Decatur -Mrs. Rafael Mar which are of lesser quality. tinez, route 3. Dowagiac Richard Bailey, A whites 28; mediums 24; standards, 25V4; dirties unquoted; checks 22.

route 6. As in making most investment, don't- do your shopping by looking-down the right hand side of the menu. If you are Hartford Irving Clauser. lic intervention in business Q. Why should Social Security keep so much money on hand? A'he funds are kept a "cushion" against an economic downturn which would swell the number of beneficiaries and cut, contributions or against any other "unusual" pressures on the system.

FIVE-YEAR RUN -1 With a backlog pf $22 billion Social Security could weather a severe five-ear depression with unemployment more than double today's rate before its GRAND RAPIDS (AP)-Ten-tative agreement was reached today between Lear Siegler Inc. Instrument Division here and United Auto" Workers Local 330 on a three-year contract. The division is one of this city's largest employers. Chuck Griffin, local vice president, said a ratification meeting date- would be announced Tuesday. Agreement was announced following a night-long session between bargaining teams.

It staved off a strike voted the membership about 10 days ago and replaces a contract that ''expired at midnight Sunday. Trains Collide; Track Blocked PORT JERVIS, N. Y. (AP) -The Erie-Lackawanna Railroad's line may be blocked for several days by the $1 million rubble of two freight trains that sideswiped each other and -derailed 53 cars. Some 300 new automobiles carried as cargo were destroyed In the wreck and fire that followed.

No one was injured. Killed By Panic GUADALAJARA, Mexico (AP) Nineteen persons were reported trampled to death or suffocated and more than 40 others injured last night when a crowd panicked at a popular music festiyal. Parental neglect, hasje and carelessness and their relation to accidents involving children will be covered Thursday evening in a meeting of family devision of the Twin Cities Are Safety Council. Dr. Marshall Feeley, St.

Joseph be speaker in a 7:30 p.m. meeting at the St. -Joseph township hall in Fairplain. Reservations may be made with the safety council at YU 3-1569. content with generous, but fixed income, this is a field, to in- Quebec by the Canadian Pittsburgh, Fort Wayne Chicago, by the Pennsylvania; Wheeling Lake Erie by the Nickel Plate; United New Jersey RR.

Canal, but the route Mrs. Eugene Martin, route 2, Austin' Meagher, route Vicki-Bond, 407 Oak; Mrs, LeRoy Morse, route Carl Stuart, 111 South Haver. Sodus' Mrs. Jack Ott and daughter, Watson "road. South Haven Mrs.

Robert Wade and son, 338 Park. vestigate. But be sure to consult 1 a broker who knows the field. 'Many are small issues, with only 50,000 or so shares outstanding, and a good part of that locked up by investment stock nenee the generous payout. A.T.

shields about 3 per cent at current market. If you want growth-type investments, A.T. T. could be part of your portfolio, If you 4 want generous income, America Standard belongs there. If either (or any other issue) makes you unhappy, it doesn't belong there.

LEASED-LINE Q. A. recent, column men- it MEANS 1 Some' examples yielding around 5 per cent: Dayton Michigan, guaranteed by Delaware RR, by the Pennsylvania; -Northern Central, by the. Pennsylvania Your Heating System Will. Be In Good Form mm lPE THE INTERNATIONAL Fifth.

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