The Salina Journal from Salina, Kansas on May 7, 1997 · Page 17
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The Salina Journal from Salina, Kansas · Page 17

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JHE SALINA JOURNAL Srw??^^ Money WEDNESDAY, MAY 7, 1997 C5 '^^ ECONOMY Factory orders decline in March GTE to buy Internet pioneer Biggest drop in seven months indicates the economy is slowing By The Associated Press WASHINGTON — Orders to U.S. factories declined in March, the . largest drop in seven months, offering reassurances that economic growth soon will moderate to a pace unlikely to aggravate inflation. The 1.6 percent drop to a seasonally adjusted $319.2 billion ended an otherwise strong first quarter. Orders, a reliable barometer of future production levels, rose 0.4 percent in February after jumping 2.5 percent in January. Economists said Tuesday's Commerce Department report fit with their expectation for slower, but still healthy, growth in the overall economy in the April-June ECONOMIC INDICATOR Total new orders in billions of dollars, seasonally adjusted 320 310 300 290 280 270 260 250 Change from previous month Mar. -1.6% Feb. +0.4% Jan. +2.5% iniii AMJJASOND JFM 1996 1997 Source: Department of Commerce AP quarter after a torrid growth of 5.6 percent in the first quarter. "It's not necessarily bad that it's slowing down. You can't have too many quarters like the first quarter before you're in serious trouble," said economist Joel Prakken of Macroeconomic Advisers in St. Louis. The more moderate pace of new orders should help prevent inflationary bottlenecks that develop when factories have more orders than they can handle. In a sign the pressure is easing, the backlog of unfilled orders fell 0.4 percent, the first decline since August, even though shipments of manufactured goods, a measure of current production, edged down 0.1 percent. In an attempt to forestall an acceleration of inflation, the Federal Reserve nudged interest rates a quarter-point higher March 25. As recently as a few weeks ago, nearly all economists expected Fed policy-makers to decide on another quarter-point tightening when they next meet May 20. Now they're not so sure. "I think it's close to 50-50 at this point," economist Evelina Tainer of Indosuez Carr Futures Inc. said. Consumer demand seems to be slowing even absent additional interest-rate increases. But unemployment dipped in April below 5 percent for the first time in almost 24 years. That could produce wage inflation, spilling over into higher costs for goods as companies raise prices to meet higher payrolls. And stock prices, after a nearly 10 percent tumble between March 11 and April 11, are again in the range that Fed Chairman Alan Greenspan might consider irrationally exuberant. The Dow Jones average of industrial stocks rose 10.83 points Tuesday to close at a record 7,225.32. By The Associated Press NEW YORK — GTE Corp. agreed to buy Internet pioneer BBN Corp. for about $616 million, part of a plan announced Tuesday that is aimed at expanding GTE beyond its local-phone business. GTE is the nation's largest local NEW YORK STOCK EXCHANGE •Nim« ADT .AGCO AMR AT&T I Aamcss AblLab AccuSttl AMD Aetna Inc Aetna pfC Agrlum g Ahmans AirFrt Alrgas AlrTouch Alberttn : Alcan i AllgPow ' AllegTeldy Allegnc n AldSgnl , Allstate ' Alltel . 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PE Vol. Lilt Chg. - A - A 9688 28'A —% .04 12 6178 28% + 1% 1010800 91%—3% 1.321055665 33% —% .134x20074 10%—1'A 1.0812513671 63'/< 31 11819 21V4 + 1V4 16469 42ft—1% .802224011 95ft+5% 4.76 5000 88% +4'/< .11 3553135-16 + 3-16 .8830 6199 40 V< + ft .30 19 3336 36% + ft 24 5640 16% —% 6711078 25'A +'A .64117 9712 32'A — V, .6019 5050 35'A t Vi 1.7214 4159 27'A +% .6420 6682 27 Vi —% .4019 4442 26% 1.0420 6252 75'/4 — V, .96(1410411 68ft+ 1>A 1.1 16 3529 32*4 —'A 364159861-64—11-64 1.00(25 7362 72%+ 1% 25 3755 28ft — 'A .6026 5703 50% 48155 49 —2'A 2.018 6564 54% 2.414 3917 42 H t'A .90 18 14303 68% —ft 1.0 10 3293 36'A 1.4 16 5283 44% t % 1.642331529 71 S A + 1 % .4021 12456133% — 'A 17 4253 42'A .6424 5028 47 ft+ 1'A 2.26 16 10992 62V4 —% 2.8 15 9456 84% — ! A 1.0420 5236 37 +'A .3030 3366 57 H—1% 2612446 26'A—1'A .961818964 42'A—1% .28 18 10020 33 + Vt 1042179 31144-1% i20b 20 24935 18% t V, 5.70(13 5955144 —Vi I 11802 35% +'A ; .4628 9753 48% —V, ..! 22 7124 24'A—1'A -, .6822 3562 38ft — Vt 1 1.2626 4248 61%—1 : . B - B l I 29378 28ft+6</4 ; .462525954 35% +1 'A i 1.612 3327 26ft + 'A 1.521322734 44 +% .60r16 4890 29% —Vt .96 16 8576 40ft —% 2.44116 16906 118% — V, OTHER INDEXES 7, STANDARD & POOR'S 500 INDEX 827.76 - 2.48 STANDARD & POOR'S INDUSTRIALS 971.57 - 4.99 NEW YORK STOCK EXCHANGE 430.77 -0.66 OVER-THE-COUNTER EXCHANGE 1,328.30 -10.94 AMERICAN STOCK EXCHANGE 570.51 -2.07 VOLUME HIGH: 7,269.47 LOW: 7,187.19 Stock data by The Associated Press Call COMMUNITY line iEZEZl STOCK QUOTE / Category 9000 FINANCIALS / Category 7500 NYSE 4 P.M. REVISED VOLUME NYSE AFTER-HOURS VOLUME NYSE CONSOLIDATED VOLUME TOTAL CONSOLIDATED ISSUES TRADED ISSUES HIGHER IN PRICE ISSUES LOWER IN PRICE ISSUES UNCHANGED 601,300,100 2,379,900 719,121,750 3,373 1,293 799 10 MOST ACTIVE STOCKS NEW YORK STOCK EXCHANGE AMERICAN STOCK EXCHANGE OVER-THE-COUNTER Name PhllMors GTE CenSoWst FordM PepsiCo ATSTs CocaCI AmOnllne Chryslr s RJRNab Volume Last Chg. X173326 41% —2% 137427 45 —1'A X71490 22'A t 1% 61978 35'A t 'A 56092 36% — V, 55565 33% — % 53722 66'A + 'A 48155 49 —2'A 47553 31 + 'A 44394 30 Vi —2% Name JTSCorp SPDR EchoBay Hubrot IvaxCp ViacB Harken TWA RoyalO g Nabors Volume Lait dig. 27730 1 11-16 + 1-16 17211 835-16—1-16 11931 5 9-16 10482 24% — 'A 9621 8'/4 —1-16 9550 28'A —1 6262 4 9-16 + 1-16 5492 7% —1-16 4201 2 7-16 + 1-16 3960 19% + 7 A Name Cisco Intel WortdCm s 3Com Mlcrotft • Ascend PetsMart s Oracle Quantum PalrTch s , Volume Lait Chg. 210660 57% —1'A 128963158 —4>A 106926 26 98086 35%+ 1-16 932811175-16-211-16 92815 49'A —3 75458 11'A + % 687064315-16—13-16 683574711-16—J 7-16 62531231-16 + 1 15-16 SitelS 92 4204 14% + IVi SmthBc 1.62e39 5163 82 t % Sola 25 5560 30%t1i« SoulhnCo 1.31310700 21% SPacFdgs 7 4282 11% — 'A SwstAirl .05(18 6377 27'A -'A Sprint 1.017 8557 46'A t 54 StatnCas 46 4528 9','. +'A StrlCmc 37 3714 30 -'A StoneC .60| 5233 10% StorTch 12 6746 36% —Vt Stratus 21 3815 42 t V, SunCo 1.029 8453 29'A + 1'A SunlntH 20 3716 32% -'A Sunamers .4021 4605 45% t% Sunbeam .04 10080 31ft—1'A SunTrst .9019 5302 5374+1 Sysco .6021 7444 34'/< + 1Vi - T - T • TCFFn 1.00117 3319 43% 11 % TelBrasI 1.84e 32547119 +4'A TelArg 1.03e 26 5170 33 49-64—7-32 TolPerun .58e 5733 24'A 1.31e 19750 41% —'A 71 10800 26'A — Vi 48 6309 34ft -H 3.4 13 10206 108'A —% .688416080 92 —1 % 2.1 11 13878 36ft + 1 S A 25 7893 33'A —% 1.1220 5068 48 t'A .1212 44 22% — V, BellSo BinelCp BerkHaA B.rkH B BeslBuy BethStl Bevrly Boeing Borders s BostSc Bowatr BrMySq s BrltStl CANTV n CIGNA CKE Rst s CNF Tran CSX CUC Intl s CVS Corp CampSps clvCo rhrt^i Checkpnt H £" 2.041 18 6078 75ft + ft 4.012 6219 83V4 —% 10817 3952 50% +'A 11614314891 23% +% ; .05 13519 6'A + 'A 1.1342 7092 46% + Vt 4531897 19'A — 'A / ,60b 8 7163 32'A—1 , : .5221 3963 47'A —% 12.96(17 8490 69'A ' 1.441718205 45'/4—1'/4 2.0813 3077 66 —% 19 123039500 + 500 1 301321 +16 12050 14 + Vt 28296 9'A +% 18 3593 14% 1.122723964100% + % 30 9158 20% + 'A 38 8968 50'A + 'A .8022 4468 44ft —'A 1.52(2322499 67 »A 1.97e 4 6364 24'A — 'A .68 6827 29% —'A 1.215 3840 79'A —H .48111 111 33'A —'A • C • C • 6441 34 t ft 3.3211 3469162 +2 .08(33 4633 24 11'A ,40b20 5627 29'A —% 1.04 12 9154 47 s /4—1 59 12562 24'A —V, ,44b49 9389 48%—1'A 24 10681 36 Vi —% 25 4653 34'A-2'A .2818 4257 31% —% .773511885 50 —1ft .48 8808 26 + 'A .44 20 4783 39 Vi t % 4426 17 + 'A 1.6 12 7273 94%—1 Vi 1.7411 X71490 22'A+ 1% 15 6353 35 —'A 13 5891 17'A +% 2.481 1238913 98 Vt + 1'A ,01p24 4634 14 —'A 23 6076 16'A—1 2.321 1617107 69'A —% 5477 13% — % 1.60 647553 31 t ft 1.16(19 4853 58% —Vt .8019 4635 54%—H-4 .14 29 5446 39% 2813023 27%+1% 2.1 1522029 117 + 1'A 1.58 12440 24ft 1.43e 46852451-64-5-64 .75114 4745 10'/4 — Vt CompScI ConAgr Conrall Conseco s ConEd ConStor s Converse Cooper Cor«ln CoreStF CornD pf Cornlngln CorclCp s CresRE s CwnCork CypSem Cyprus DTE DBenz rt DataGn DaytHud s DWDIsc s Deere DellPne s DellaAIr Dialn DlaOII Dlebold s Disco Dliney DKaran n DowCh Dressr DuPont DukeP DunBrd s Eaton' 29 1498B 72% +4'A 1.0957 4667 59 +% 1.925 5088114'/4 + V4 .12 20 7869 42ft + ft 2.1 11 6483 30 + 'A 2415356 40'/4—2% 3338 13'A — % 1.3216 3715 47% .2412 112 16'A t'/4 1.8817 6083 53 + 1 Vt 3.00 3834 80'A— 2'A ,72b 60 16037 51 —1% 79 4440 35% — 'A 1.2235 3385 26% —'A ,05m 28 3349 23 —Vt 1.027 4685 55% +1'A 40 10895 14'A —'A .8024 5020 22*A + 1 • D - D • 2.06 15 3880 28 V, 16322 3-32 2421341 23'A + % .6422 8321 46%—1'A .56 14 3655 40 —% .801512624 47% t % .0952 5578 21% —% .20 9 5218 93ft—1% .325413436 16% +% 37 3370 64'A t % .5024 4187 35'A t% 10482 30% —ft .1615 2124 31ft —% 6513 30% —% .53131 14618 82". t'A 16 4453 9'A—1'/4 .68 16 4053 55% + 'A 3.011 6451 87ft +'A .6821 5855 30'A + 1 2.52l1615565110y4t2'/4 2.1214 7821 45% —% .8823 6852 26'/4 —% • E • E • 2311576 38'A —V, 1.762412575 83'A +% 1.761 17 4640 79 + 1'A GTE Gannett Gap GenElec Genlnst GnMIII GnMotr GaPac Gillette GlaxcWel GlbDlr GlobM Goodrch Goodyear GrdCasn GtWFn GreenTrF GTelevsa Gucci GllCda g Gulfslrm n HFS Halbtn Hanson n Harlnd HarrahE HltMgt s Hlthsth s HeclaM Helllg Heinz Herculs Hershey s Hertz n HewlPk s Hlbern HighwdP Hilton s HmeDep Hmstke Honywel HKTel HostMar Houshlnt Houstlnd Humana 1.8815137427 45 —1'A 1.4418 4532 90'A +% .302016342 31% —% 2.082635684116% + V, 24 4236 24 Vt —V, 2.12(2410168 63»A —Vt 2.00 831188 58%+ 1 2.030 3927 BO'A—1'/4 ' .86(4412392 85ft—1% 1.3162015136 39%+ 1-32 18 5091 21Vi + 1% 14 18892 19% + 'A 1.1 15 3417 41ft +% 1.1212 9101 53% 10576 12 * 1.067 6402 44% t 'A .30 1326500 30'A —% .07 5775 24 + Vt ,30p 4760 66% 5014 8'A 29 9405 29'A + 2V. • H - H 38 14449 60ft + Vt 1.026 9916 71% +1'A 1649272513-16 + 7-16 .30 3377 21% +'A 14 9761 18'A +'A 33 3450 28% —'A 2911608 21'A 4522 5% — Vt .2819 4861 14ft —'A 1.1623 17115 42% +% 1.012 5059 41% .8031 4299 56% —% 3420 28ft —'A .4821 29756 54'A—1 .32 15 7007 13Vi —'A 1.9221 5395 32 .3233 8083 29 .2430 17674 59% .203010230 14 1.0823 4255 74 ,92e16 3540 18% +1'A 7620 17'A —% 1.561610623 89 +'A LTV LaOulnta s LaidlwB LehmBr LlllyEII Llmltd LlncNatl LockhdM Loews Loglcon LILCo Lewes Lucent Lyondl MBNAs MEMC MGF MGMG MaderSIn Magnal g Malinckr ManorCr s MarklV MrshMc Masco Mattel MayDS McDerl McDnlds McDnDg s MedPart Medtronic MellonBk MercBcp Msrck MercFn MerrLyn Mesalnc MicrnT MidAmEn MlllenCh n MMM MlrRsrt s Mobil +1% SBS- Enron tnron 32 S,Cm E« d,Cp _ n; ss is 9017689339% IkonOKSol '" je 5629 44% -% ITW - 5 °^ %?» ,',5/,S .08 « 4863 19% +2 InlGame + % -% + V, +% + % sir-is .16281188729% + !% .7623 3921 945*-2% ^ssssis =5 .12 17 6813 17% + % NatHP NablsH aaa .12 12 7142 13'A —Vi .0729 3961 22% .1626 4343 13ft —'A .24 9 6528 34'A — V, 1.443212298 90%—1% .48(12 9272 18% 1.9612 3690 58 Vt +% 1.613 9122 92ft —'A 1.00 6 3661 96%+ 1 .2423 4473 49% 1.78 10 3649 23% —'A .2222 3484 38'/4 —% .303221258 62 —'A .9012 8178 21 Vt + 'A • M • M • .4823 9401 33'A +'A 21 4405 29'A —Vt .52 3514 6'A 2610211 39 .28620 8925 17'/4 1.201 3300 55 +Vi .66 14 4229 37'A .09 4464 25% —% .16132 8820 24'/4 —% 3.6 19 21245 120'A— 2% .8019 4750 38% —'A .2453 9796 28'A t% 1.216 6486 47'A—1 .20 3680 19% .302520020 54'A .4816 7246 59 +% 11001 19'A —'A .3832 9402 68 —2'A 2.64116 5486 84% + 'A 1.72115 4591 58% -'/i 1.66(2137561 >3 + 1Vi 2154931 9-16 + 1-16 1.60(12 6866100%—1'A 71 7019 5 —'A 3434451 38'A —% 1.215 4080 16ft — V4 .60 11486 18'A +Vi 2.12(2411387 90'A +'A 22 12751 22% + Vt 4.2419x11597131% —'A .62 63693B'A-1% -.32142 1.5615388720%+% Olllcmx s Oryx OutbdM PECO PG&E Cp PHP PNC PPG PacilCp PalnWeb PallCp PanEnergy ParkDrl Pinniy Pennzol PepBoy 23 13046 11 4213 .10) 4686 .p.p. 1.810 5311 1.21624108 4359 1.4814 7055 1.3214 4184 1.08 13 6174 .6010 4325 .562010318 .9818 4565 6149 2.14(21 4825 1.018 3912 .24(21 4127 12% + 'A 20ft —Vt 14'A t% 20% + 'A 25 t'A 18% +1'A 43 V, + ft 57'A + 1 20% t Vt 35 — Vi 23'A +'A 46% —'A 7ft t 'A 49 —'A 50 -% 33% TelMox TenetHIt Terdyn Texaco Texlnst TexUtil TherEI s ThmBet Thorlnd Tldwtr Tiffany s TimeWarn THIIfgr Tosco s ToyRU TransHosp Transocn Travelrs s Trlirc A Trump Tuppwre n Tycolnt UAL USWest USWM USA Wsle USFG USG UST Inc USXMar usxuss UltramDS Unicom UPacRs UnTex Unisys Coast 12 % 4016 3633 49% + A FUaHold M »$l * 29e 9 17786 39-A KN Engy 1.0818 ,3% 305 3IU +% NobleDr L %-7;J 1318560 17 t% : Pfizer PharUpj PhelpD PhllMor s PhlllpiEl PhilPet PioM PilgAPr PlacerD Polaroid Potash g Praxair PrmHsp ProctGm ProvCo' Provldn PSvNM PSEG PPrIT OuakrOal RJRNab RJR pIC Ralcorp n Riythn RdgBate R«»uok RelGrp Repsol ReyRey s ReyMII RlteAld Rockwl RoHaas Rowan RoylD Rubrmd Ryder SBC Com Safeway StJude SIPaul SaksHold n SallieM Salomn S»r«Lie SchrPI Schlmb Schwab SclAtl Seagate s Seagram Sean Sensormt SvceCp s SilcnGph SimonDeB 1.363214462 99Vi —'A 1.082320467 31% —'A 2.012 3765 .78'A +'A 1.6 16x173326 41 %— 2% .85149 3432 54'A-t'/4 1.36(15 9825 40% —'A .1622 8376 21'A + V4 .82 3392 9ft — Vi .30 13431 17% + Vt .6023 3721 49VS+1 1.44 4171 81%—1'A .4423 7635 52'A + 'A 30 3595 17ft + Vt 1.828 18076 132'A+2'/4 .72 18 16802 54'A —'A 1.1 12 9181 58 —'A .68(10 5116 17 tVi 2.16 9 4277 25'A —'A .721 3376 7ft + Vi • Q - Q 1.14 14788 41H + 1'/4 • R - fl • 2.051144394 30'A—2% .60 16765 6 —% 3400 11'A + Vt ,8015 5650 47 -'A 1812635 22'A —'A .3019 3489 36'A—1% .32 10 3332 11 S A — 'A 1.36e13 3409 41ft —'A .3218 5643 20ft -'A 1.444 5330 66% t'A .8027 5943 47 — % 1.1620 4765 68 + Vt 1.8 15 3431 82% t Vt 25 12797 18ft + '/. 5.78e18 7229 184'At 2 .6025 6469 24% .60 5650 33 • S - S 1.79(1615069 56% —Vt 2210734 45ft t % 15 4496 34% — % 1.88(11 4530 70% t % 33 6021 20'A + 'A 1.7615 3328116%—5% .64 13 5067 52% t % .8422 7544 42ft —Vt 1.52(25 7863 64 '/i —V, 1.530 13352 113'A + 1% .2026 4243 37'.'4 —Vt .0647 5835 17% — Vi 1831773 52% —'A .6640 4219 40 Vi t % .921614190 50 —% .2225 5880 15'A t Vi .30127 6974 35!. t % 12242 15'A -'/i 1.97330 3550 29% US Airway US Filler s US Surg UnTech s Unocal UtIIICo VFCp Valero Varco 6 8496 33'A 47 3722 30% .16(22 7846 35% 1.24(21 5926 78'A .80 13 7126 39'A 1.7611 717 27 - V • V • 1.5216 2397 75'A .5227 3724 34ft 26 3336 23 phone company, offering its service to thousands of small communities in 27 states. GTE said it will offer to buy all of BBN's outstanding stock for $29 a share, or a 28 percent premium over its closing price Monday. BBN shares surged $6.25 to nearly match the offering price at $28.87'A. MARKETS KEYMTES Dally key rates from The New York Times Previous Year Tuesday Day Ago 8.50 8.50 8.25 5.00 5.00 5.00 5.44 5.49 5.24 PRIME RATE DISCOUNT RATE FEDERAL FUNDS(x) 3-MO. TREAS. BILLS 6-MO. TREAS. BILLS 10-YR. TREAS. INF(xx) 10-YR. TREAS. NOTES 30-YR. TREAS. BONDS TELEPHONE BONDS MUNICIPAL BONDS(xxx| 5.03 5.33 3.57 6.65 6.88 7.94 5.86 5.14 5.37 3.56 6.64 6.B8 7.94 5.87 5.00 5.13 N.A. 6.64 7.07 8.18 6.21 (x) Estimated daily average, source Telerale (xx) Realized dollar amount rises with inflation (xxx) Municipal Bond Index. The Bond Buyer Salomon Brothers and Telerate for Treasury bellwether bonds, notes and bills. LOCAL GRAINS Tuesday, May 6 Secular, Sallna Carglll, Sallna Continental, Sallna Farmway, Bololt DeBruce, Clay Ctr. Cooper, Colby Midland, Hays Decatur, Oberlln Agco, Russell Farmers, Stockton Wheat Corn Mllo Beans $4.35 — $4.67 — $4.37 $4.38 $4.11 $4.19 $4.12 $4.12 $4.09 $4.09 $4.07 — $4.58 $8.77 — $4.60 — $2.53 $4.08 $8.57 $2.54 $4.19 $8.57 $2.59 $4.02 $8.34 — $4.07 — $2.54 $4.01 — — $4.12 — $2.50 $4.01 CHICAGO GRAINS moved 88,000 Monday, producers back in the fields lor spring planting bul packers bidding tower for hogs. Cutouts turned a darker red yesterday, bellies 3.00-5,00 lower. Killers will just have to cut their chain speed some more, year to date slaughter already 6.4 percent below a year ago. 1 -3 230-270 Ib 56.50-57.00; 2-3 270290 Ib 55.00-56.00. Sows Steady; 1 -2 300-500 Ib 48.00; 1-3 500-550 Ib 49.00; 550-700 Ib 50.00-51.00. PODGE CITY LIVESTOCK Market quotations Tuesday: Trade active. Slaughter steers and heifers 1.00 higher than last week. Inquiry and demand good. Sales confirmed on 18,000 slaughter steers and 17.000 slaughter heifers Tuesday. For the week to date 44.000 head confirmed including 4,500 head or about 10 percent previously contracted or formulated cattle. Sales FOB feedlot net weights after 4 percent shrink. Slaughter steers: select and choice 2-3 1050-1300 Ib 69.00; pen select with end choice 68.00. Dressed basis: few select and choice 2-3 1200-1225 Ib 111.00, hot weights, delivered. Slaughter heifers: select and choice 2-3 950-1175 Ib 68.00 to mostly 69.00. Dressed basis: few 2-3 10751150 Ib 111.00, hot weights delivered. OMAHA UVESTOCK Market quotations Tuesday: Hogs: 600; barrows and gilts slow, not fully established, opened 1.00-1.50 higher; U.S. 1 -3s 230-260 Ibs. 58.75-59.00; sows firm; 350-650 Ibs. 48.50-53.00. Cattle and Calves: 400; in brisk trading steers and heifers 1.00-1.50 higher, steers: mainly choice 2-4 1100-1300 Ibs. 68.50-70.00; heifers: select to mostly choice 2-4 975-1200 Ibs. 68.00-69.75. Sheep: None. Futures trading Tuesday on the Chicago Board of Trade: Open High Low Settle Chg. 5,000 bu minimum; cents per bushel WHEAT 402 394 394 —11'A 408 402 402'A —8% 414 408 40B —9'A 426 419 423 420 CHICAGO UVESTOCK .6017 5529 40 +'A .2024 5969 38ft—1ft .36 15656 45 —'A 20 5261 43ft + ft .24(3210319 31'A t'A 17 13505 29 t 'A 3610615 14% +'A .2425 3950 61 Vi + 1'A .60 15 17874 56'A t 'A 351 18'A —'A 5939 10'A + % .88 12 7217 32% —'A .2026 6282 62ft — % - U - U 12 3305 74 + ft 2.1413 7779 35% — 'A 16163 18 — Vi 27110593449-64 + 25-64 .20 10 4485 20% —% 37 3332 35'A + Vi 1.6211210859 28% —% .7614 8737 27ft + Vt 1.00 9 3427 30'A 1.10 15777 31 —% 1.60 8 7874 24'A t % .7512 5887 49%+ 1 1.7217 3656 65'A .20 18 5883 27'A —% .2010 4530 19'A +% 5122 6'A —'A — 'A + 'A t 1'A + 'A —'A + % — % t '/. May Jul Sep Dec Mar May Jul Dec Jul May Jul Sep Dec Mar May Jul Dec Jul Dec May Jul Sep Dec Mar May Jul Aug Sep Nov Jan Mar May Jul Nov Jul Nov 402 408 412 424 422 394 402'A 408 4 1 9 'A 420'A 399 381 384 381 383 395 367 CORN 292'A 293 288'A 288'A 289% 290 285'A 285'A 273'A 274'A 269 269'A 271'A 272'A 267V4 267% 276 276 272 272'A 279'A 279'A 277 277 282'A 282'A 280'A 280'A 264 265 266'A 264 265% 277 265 265 265 OATS 169'A 167'A 169'A 161% 160'A 161% 158'A 157 169 160 Vt 157 158'A 159 163 SOYBEANS 895 8851; 893'A 882 862'A 852 163 158'A 157'A 156'A 162'A 162% 894 888 858 892 861 % 760'A 761'A 752'A 759'A 701 703 696 701'A 703 704'A 707 709'A 712 716 664 634 716 666 640 706'A 708'A 712 712 712 712 664 634 666 681 640 — 7 — 2 — 3 — 4% — 5% — 5% —4% — 4% — 4% — 3% — 3% — 3% — 1 — 1 % — 2 — 1 % + 1 + 2% + 2% — 4% — 2% — 2 — 1 % — 3 — 4 — % — 2% Jun Aug Oct Dec Feb Apr May Aug Sep Oct Nov Jan Mar Apr 65.42 65.35 68.80 70.65 71.20 73.00 65.55 68.95 70.70 71.20 73.00 65.25 68.80 70.57 71.02 72.97 FEEDER Futures trading Tuesday on the Chicago Mercantile Exchange: Open High Low Settle CATTLE 40,000 Ibs.; cents per Ib. 65.50 65.07 65.17 65.05 68.52 70.32 70.80 72.75 CATTLE 50,000 Ibs.; cents per Ib. 74.45 74.55 74.30 74.42 77.00 76.60 76.95 76.75 77.05 78.50 79.25 78.65 78.50 HOGS Ibs.; cents per Ib. 84.67 83.45 64.52 85.25 83.20 75.65 72.60 71.30 67.50 72.75 76.70 76.40 76.75 78.15 79.00 78.40 78.40 76.40 76.75 78.15 79.00 78.40 78.40 76.65 76.97 78.45 79.15 78.65 78.50 Jun Jul Aug Oct Dec Feb Apr Jun Jul Aug Oct 40,000 83.90 84.02 82.05 75.00 71.80 70.70 67.00 72.75 64.02 82.05 74.95 71.80 70.70 67.00 72.50 85.15 83.15 75.52 72.55 71.15 67.50 72.32 70.75 67.00 63.95 Chg. — .25 — .15 — .05 — .07 — .05 + 1.02 + .85 + .80 + .30 + .25 + .20 t .05 t .12 .05 .95 GOLD KANSAS CITY GRAINS Wheat futures Tuesday on Ihe Kansas City Board of Trade: Open High Low Settle Chg. WHEAT 5,000 bu minimum; cents per bushel May 442 442 437 440 —5 Jul 428 429 421 422 —9% Sep 430 430 423 423 —11 Dec 436 436% 429 430 —11 Wheat 46,376 bushels: 10 cents lower to 4 cents lower; No. 2 hard 4.401/2-4.5B1/2n; No. 3 4.291/2- 4.571/2n; No. 2 red wheat 3.981/2-4.561/2n; No. 3 3.871/2-4.551/2n. Corn 0 bushels: unch to 61/4 cents lower; No. 2 white 3.00-3.10n; No. 2 yellow 2.81-2.87n; No. 3 2.61-2.B6n. No. 2 milo 4.64-4.75n. No. 1 soybeans B.75-8.93n. Hoppers 75.00-76.00. Foreign - Hong Kong late: $343.35 up $3.00; London morning fixing: $342.80 up $3.15; London afternoon fixing: $342.45 up $2.80; London late: $342.75 up $2.80; Paris afternoon fixing: $340.46 up $2.53; Frankfurt fixIng: $342.46 up $1.70; Zurich late afternoon: $342.60 up $0.80. Domestic - NY Handy & Harman: $342.45 up $0.35; NY Handy & Harman fabricated: $359.57 up $0.36; NY Engelhard: $343.68 up $0.15; NY Engelhard fabricated: $360.87 up $0.16; NY Merc, gold spot month close Tue. $340.20 ott $2.80; NY Republic National Bank 4 p.m. Tue. $340.10 off $2.60. SILVER Handy & Harman silver Tuesday $4.730, off $0.005; Fabricated $5.203, off $0.006; The bullion price lor silver earlier in London $4.7520, up $0.017; Engelhard $4.735, $unchanged; Fabricated $5.209, $unchanged; NY Merc silver spot month Tuesday $4.691, off $0.035. OIL Vlvra 2634323 34% -% • W • W • WMXTc .641514556 29'A -% WilMart .27(2140156 26% Walgreen .4829 4757 46ft —% WarnL 1.5213712887 99% t'A WelptHltn 15 5101 44'A + 'A WellsF 5.224 3368276'A+6V4 Wendys .24 17 6557 21'A + Vt WstAtlas 27 4106 66% —% WDIgltl 16 13686 72'A t 'A WltnRes 2.10113 706 31'A t Vt WitgEI .20 24747 17% + 'A Weyerh 1.627 4658 46 —1 Wllllamii 1.0420 6212 44% —'A Wolwth 17 6247 21'A • X • X • Xerox s 1.281 18 15238 64'A + s .4 • y • Y • YPFSoc .8013 8132 28 — Vi _^_^ NOTES • Trw Hilt: The lists relude local Merest slocks, whk* are boldfaced, and Ihe day's most actively traded slocks. • Footnotw: a - also extra or extras, b - annual rate plus slock dividend, c - Iquidatmg dividend. •_ declared or paklii the past 12months.l- dedaredor paid alter a stock dividend or split. | - paid Ms year, dividend omitted, deferred or no action taken at last dividend meeting k - declared or paid this year, an accumulative issue with dividends n arrears, n - issued withii the past 12 months, r - declared or paid n ihe past 12 months plus Mock drndend. i - split or slock dividend ol 25 peicenl or more with the past 25 weeks t - paid ii stock in pasl 12 months plus slock dividend vl - company n bankruptcy or receivership or being reorganued under the bankruptcy act. or securities assumed by such companies, wd - when distributed, wl - when issued, ww _ wim warrants, iw - without warrants. ! - indicates single share totals rather than hundreds, x means that anyone buying this 'ex-dividend' stock on the day ii question Ml not rocerve the most recent dividend, y _ indicates single share totals lor ex-dividend slock. ST. JOSEPH LIVESTOCK Market quotations Tuesday: Estimated slaughter hog receipts: 500. Compared to Monday barrows and gilts steady' Interior Iowa only Petroleum cash prices Tuesday as compared with Monday prices: Tues. Mon. West Texas Inlemied $ per bbl fob 19.68 19.63 From Staff and Wire Reports GRAIN i rice* c:l »lng: 825-6OOO t dtegory brought to you by nifER-THE-COUIMTER EXCHANGE AMEX Hunt ADC Tel s Adaptec s AdobeSy Altera Amgen Andrew s AppIsC ApldMat Ascend > Atmel BMC Soft s BTQ Inc BloPhar s Blogen s Borlnd BoslChk CascCm Centocor CrikPnl n Chiron s CienaCp n Cirrus Cisco Clarify 1 Cmpcm " Compwr s ConcCm Dlv. PE Vol. Lul Chg. 4915826 31 — Vi 4021805 37 Vi— 2V, .202038121 45%—1 Vk 422338551 3-16-1 7-16 ,01p 24 21801 61Vi—1V4 2518473 28»—1 ft 7414 16ft — V, 2464876 59 W-2 6792915 49V4— 3 1426029 27% —'A 3218548 48tt—Itt 1249935913-16-57-16 22356 22*4 + '/i 4516667 36Vi-1tt 1707 6'/.—3-16 24 14103 24'/<—7-16 43950 33»—2H 13519 31H—1Vi 61 21666 26 '/4 + 1 7-16 61 13534 19*4 — tt 16003 33 t3 b ,4 135179 11-16-1 1-16 38210660 57*—I 1 /. 3233690 t3W—tVi 1419558 7'/< t V. 3919711 42*4 + 'A 14586 1 13-16 —% Costco CreTcLtd DSC DecOne DellCpl s Duckwall Duramed ETrade n ESSTech n ElcArt EmplySI s ErlcTel F»tinl ForeSys s FtHowrd ForteSIt Gate2000 QenNutr Genjym s Glenayre HBOs Inforrnx IntgDv Intel Intel wt Interneur KLA Tenc LamRsch 2321026 29'A -ft 2)40657 1754 + 1 'A 19995 21% + % 9 17553 21 ft 33 59970 90'A—2 10 42 13% 32806 5'A—5'A 14489 18 -'A 11 18296 15% -% 32 19322 29 —% 1925968 7'A — Vi ,33e 16242331-16 —% .0249 2011 43'A— 1'A 3841924 15'A —'A 1638843 41'A—1'A 3213316 11 +% 1834794 62'A—1ft 23601 22ft — Vi 48 33655 23%+ 1 7-16 12 14369 12% —% .084427282 56% +3 5091889-16 t Vi 12961 13 ! A —'A .223128963158 —4'A 29534 117'A—4% 17085 17%+ 1 26 22290 50 + % 14760 36'A—1-16 Lattice LlnearT LniSSIk MCI MaiinerH McAfee MlltAIr MicroWre Mlcrochps MIcronEI Mlcroitt I NilhF Netscpe NtwkGs NexlelCm Novell Novlus Oracle OxIordHIt PalrTchs ParroTch Peopslts PetsMarts PhyslcHIt prdePt Qualcom Quantum ReadRt 30 13896 58 — 2Vi .203217788 53'/4— 3V4 1376422013-16 + 11-15 .052331832 39 1 /.— 7-16 2017889 11 V4 + '/i 56 13364 60%— 4 9-16 13 696 5ft -Vt 20 19177 17V4 t Vi 3813367 36 + 15-16 2315241 23 1 /. — y, 52 93281 117 5-16—2 11-16 ,72«10 1147 17% 27589 30ft —ft 2815316 15'/4 t 'A 16278 14 'A -Vi 243049489-32 —Vt 1532584 77 —Hi 40687064315-16-13-16 5435102 66ft +2% 4162531231-16+115-16 37 15718 46H-1 30811 47%-lft 6875458 11 'A +» 13769 26% +3» 1813604 17% t 'A 15234 52 — 1% 20683574711-16—17-16 20000 28% — » Replnd s 30863 28 + ft ReutrHd 1.42e 21 13068 66% —'A S3 Inc 11 22584 11VI—5-16 Shiva 29024 13'A +% SlebeISs 12768219-16 + 9-16 SlerraSem 15076 19 9-16-1'A SlllcnVI 4514467 23% —'A SUplfl 31 25712 19% -V. SunMlcs 1846623 30V4 + 3-16 Sybase 13001 16ft TeleComA 1.2511950340 14% -'A Tellabss 3936753 43'A-2% 3Com 2198086 35%+ 1-16 Tyiom .1347070195-16-1-16 UMBFn .801)15 257 40'A UltraStp 1314073 18%-2'A USRobts 2526809 61% — Vi UtdWste s 42 12316 36Vi t 'A VLSI 20866 22'A-Hi VerltasSIs 5313221 40%+ 1% Vlvus 1420635-113-16 WAMull 1.04114208775211-16 + 1 1-16 WorldCms 108926 26 Xllinx 38225485213-16—111-16 XylanCp 4712423 18'A—2'A Zllels 15918 19'A—1% Ninil Dlv. PE Vol. L»t Chg, Amdhl 2711 8!»— 7-16 Ampex 19 1786 6 'A — » Audvox 1764515-16—5-16 Aulotole 2583 1 1-16 —'A BATInd 1.07e 1197 17 11-16— 3-16 BemaGold Brandyws ,52a Cablvspl Gallon ColLb DevnE EchoBay EIPasoE EmerR EmpCar FAusPr ForstLb GetchGId GldStarH GreyhndL Harken Haibroi Hearx InterDIg IvaxCp 3211 6% — Vi 2000 18 'A 2.13 2815 21 V4 — Vt 16 1161 5-16 + 1-16 3666 14ft —'A .2023 1301 36'A t 'A 1193159-16 11 1936 6'/<— 1-16 1328 11-16 1235 1 9-16-3-16 291091-16 2549 37 'A + 1'A 1462 38W + 1H 1803 8Vt 1 11-16 2003 3« — 1-16 626249-16 + 1-16 .321610482 2414 —'A 3565 2 t '/. 111153-16 + 3-16 9621 8'/.--1-16 .84 JTS Corp Keane s Metromda Nabors NY Times NA Vacc OmniMult PaxsnC PegGId PrpdLg RoyalOg SabaPet s SPDR Sulcus Thrmolse TotlPet 1WA Unilab USBioscI Viacom VlacB WIRET WirelssT s WEB Jpn WEB UK XCL Ltd 27730 1 11-16+1-16 57 2293 50'A—2 228799-16+ 1-16 24 3960 19% + Ii .6021 2610 44 —'A 2088 20%+ 1% 2200 1 Vi t Vi 1557915-16-3-16 1638 6%—1-16 26 3236 16% 4201 27-164 1-16 38 1943 15'A-1%. .416 17211 835-16-1-16 20 1107 1 9-16+1-16 1483 10 —'A .30 994 9% —'A 5492 7'A—1-16 222511-16+1-16 1566 10'A -'A 1631 2B'/4 —% 9550 28'A — 1 1.12 18 1326 12% —'A .20124 1799 10% +% 1110 12%+5-16 ,33e 1391 163-16 + 7-16 3711 7-32 + 1-32 NOW PAYING... 8.00% 8.00% 5-YEAR Subordinated Capital Investment Certificates 5-YEAR Subordinated Monthly Income Capital Investment Certificates 8.50% 8.50% 10-YEAR Subordinated Capital Investment Certificates Thfst' si'cuiitii-'s are issued in amounts over $100 exi'epl Ihe Monthly Income LVrtiHrutv which Is nffereil in miiihmuiis of $6,000 or more ;uiil additional im-remelils of *1,000 or more. 10-YEAR Subordinated Monthly Investment Capital Investment Certificates Interest rates in effect May 1, 1997. All Interest rates are subject to change at any time prior to issue. If you wish to rm:iv<! u I'rospcctus, plwisi' rut iilorig UV clotU'cl lint 1 , conipli-U 1 uiul inuil to Puniiliuid. For current interest rates and Nam6__ Prospectus you may also call: Farmland Securities Company 3315 North Oak Trfwy. Kansas City, MO 64116 1-800-821-8000 Ext. 6300 Tliis advertisement is neither an offer to sell or a solicitation to buy any seciullies. This offering is made only by tlie Prospectus. Address. Phone Farmland Farmland Industries, Inc. Kansas City, MO 64116 GARY F. JUENEMANN 1-800-238-02411 or JOHN A. JUENEMANN 1-800-536-27201

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