The Evening Sun from Baltimore, Maryland • 41

THE EVENING SUN J7TATA AW A SECTION PAGE 13 BALTIMORE, THURSDAY, MAY 6, 1976 American Profit Names Faces New Headquarters For Koppers Here Controller Workshop Gen, Ins. Is Slim Vs. Norbert Bemeburg is now The Maryland Association of PL- if fa controller for governmental ac Communicators is holding a day-long workshop on contem tivities of Westinghouse Public Systems Co. He joined the firm Met Up Big Loss 1947. has held various porary graphic design and typography featuring Dr Edmund C.

Arnold, nationally known author and graphic designer, on Friday May 14. in the American General Insur New York (DJ)-The Great Atlantic Pacific Tea Company for its fourth fiscal quarter had a small net income of in contrast to a loss of ance Company for the first quarter ended March 31. 1976 had operating earnings of $14. 1791.000. at the rate of cents share, against $13,414,000 and N.

E. Bemeburg $178,977,000 in the compoara-ble 1975 three months. Dr. E. C.

Arnold cents a year ago. There were realized gains oi The per share earnings were $4,700,000 compared with a los of $12,000 in 1975 Net income 11 cents for the period ended February 28. management positions, and since June 1975 has been assistant controller of Public Systems He is a member of the Sales were $1,861,565,000 for the 14 weeks this year nursing residence auditorium at was $19,491,000. at the rate of 65 cents a share, against and 66 cents, both fully diluted. against $1,703,765,000 for the National Association of Ac St Agnes Hospital Dr Arnold 13-week comparable quarter.

is chairman of the graphic arts countants and other professional societies. For the full fiscal year, the and design departments at Syr There are 20.779.250 shares acuse University and hat grocery merchandiser had sales of $6,537,897,000, down from outstanding against 21.070.078 Manager served as a consultant on de last year sign to the Christian Science Robert Zirk has been $6,874,011,000. There are 1.400 fewer stores this year than last. Total income for the three- Monitor, the Washington Post named area manager of Atlan months was $366 3 million com Net income for the 1976 tic Container Line His territory paied with $324.3 million. and the Chicago Daily News.

McCormick includes Maryland and the sur year was $4,314,000 against a loss of $157,071,000 in 1975. The company now has 2,074 stores Benjamin N. Woodson, chairman, said results of the rounding states He has held a Robert L. Gallatin has been number of managerial posts in fire and casualty operations for in operations. the first quarter of 1975 were appointed account manager for the mid-Atlantic area of the Industrial Flavor Division of restated to include a non-recur ring cumulative effect of $5 1 McCormick Company Robert Zirk or the last two years he has million, or 25 cents per share net of tax.

relating to a change effective January 1. 1975 in the Sunpapers Photo Lioya Pearson Turner Contracting Company. Donald L. DeVries is vice president and general manager of the Metals Products Division; Richard E. Hug is president of the Environmental Elements Corporation which soon will start a $4 million addition to its Ridgely street plant.

Koppers has five plants in this area: three within the city, and one In Baltimore county and one in Anne Arundel county. Total employment here is 3.500. The Hoppers Company next week is dedicating this headquarters building for its Baltimore operations. It is located oo the southwestern edge of the city at 3700 Koppers street at Caton and Joh avenues, adjacent to Exit II of the 195 highway. The 5 story structure has 20,000 square feet of space on each floor.

There is parking for 500 cars. The building was designed by RTKL Associates, and was constructed by The Whiting vSn. method of providing for ca tastrphes. This eliminated that portion of catastrophe reserve set up in that quarter, resulting Robert L. Gallatin the transportation industry At lantic Container Line operates in an increase of or cent a share to fire and casual a fleet of 10 container and roll-on roll-off cargo vessels be ty earnings.

The total effect of Wage Curb May Ease Inflation New Holding Company Set Boston (AP) USM Corp. and Emhart Corp. of Farming-ton, have merged and formed a new holding company. The new company, also called Emhart will have two subsidiaries, USM and Emhart Industries Inc. Stockholders of the two companies approved the merger on Monday, with just a handful of shares from each firm voted against the consolidation.

The vote was a virtual certainty, as Emhart already owned a majority of USM stock. The merged company will have 33.000 employes in more than 33 countries. It has estimated annual sales of more this was 26 cents a share, in tween New York, Baltimore and Portsmouth, and eight been a partner in Prince Sea creasing 1975 first quarter earnings to 76 cents a share sees it in good part that way principal ports of Northern Eu soning Corporation in Dallas from 50 cents. He was formerly a technical rope. President Unlike the Administration, he does not hesitate to cite the wage problem In describing consultant with Strange Com pany and a cost accountant The company has increased its quarterly dividend to 17 would involve payroll taxes -that is.

Social Security taxes. The President would set a 'voluntary" wage increase guideline of. say. 5 per cent In any establishment where the employer and his workers agreed to stay within the guideline, the employer's Social Se C. Sears has been named the continuing inflation danger with Sharp Canning Company, a cents from the previous 15 to the Senate Banking Commit division of Freemont Kraut president of the Royal Oil Cor poration of Baltimore, succeed cents.

tee. Dr Burns emphasized that Property and liability prem Company. Executive V. P. wages are still increasing ing Henry Conrad who has Washington (NYT) The Ford Administration, officially at least, professes unconcern about the trend of wages in the economy For example.

Alan Greenspan, chairman of the Council of Economic Advisers explicitly declined to criticize the fairly hefty settlement re cently negotiated by the Teamsters, and the same posi tion has been taken by the Sec retary of Labor Usery. Jr And yet it is a kind of truism of the modern economy that as long as average wages rise fast- much faster than the long-term iums in the first 1976 quarter were $1202 million against retired Mr Sears was previously executive vice presi Nicholas A. Giordano was year wage increases of 3 to 4 per cent, the inflation rate the next year assuming reasonable Government monetary and fiscal policy would be sharply reduced and the "need" for bigger wage increases from then on would be correspondingly less It is often forgotten that in the 1960-65 period, wage increases averaged about 4 per cent a year because price increases average about 1 5 per cent a year Moderation in each reinforced the moderation in the other. The most promising idea in years has come from, of all growth of productivity curity tax would be cut by one $122 1 million. dent, and before that worked percentage point and the work than $1 billion, a USM spokesman said.

A simitar awareness of the problem emerges from public and private statements of such for Sinclair Refining Co Life insurance in force rose appointed executive vice president of the Philadelphia. Baltimore and Washington Stock Exchange. Inc He joined the ex er's tax by three percentage points The worker would have Named executive vice presi to $24 1 billion from $22.5 bil liberal economists as Arthur dent was Birx. Jr form lion. the equivalent of an 8 per cent wage increase 5 plus but Okun and Charles Schultze of change staff in 1971 and most erly president of Waller Petro Total resources on March 31 'Keep Thy Shop' Ben Franklin said: "Keep thy shop and thy shop will keep thee." leum Co He was also named to total wage costs in the economy were $4.3 billion, up from $3.7 recently served as senior vice president.

the Brookings Institution so much so that relations between Brookings and the American the board of directors. billion. would increase very little. If the Federal deficit in ANALYSIS Federation of Labor-Congress Industrial Organizations creased by that amount this might be inflationary force of er than the increase in average places, Britain. After one year of "voluntary" wage restraint in the 10 per cent area, the its own.

lave cooled to the freezing point Depending on how widely productivity, or output per What can be done about the Chancellor the Exchequer De the proposal was accepted, its man-nour, prices wm go up. Wage Increases are not by wage-productivity problem' cost in Federal revenues could be considerable possibly First, a look at the situation is any means always the chief See why so many businessmen do more business with BasicFour Computers. in order nis Healy has offered for the second year a straightforward carrot or even "bribe The proposal is that, if the unions will accept a further reduction in driving force for inflation Other forces, largely international more man zu oiiuon. Dr Burns and others contin ue to place some faith in "in comes a noncompul dominated in the devastating Wages in the United States are not "exploding." Of the many indicators of wages and earnings, perhaps the best is the Adjusted Hourly Earnings Index, published monthly by the wage increases to about 3 per cent, income taxes affecting mainly working people will be sory means of holding back wage increases. reduced by more than $2 bil George Meany of the A.F 1.0 remains suspicious of any lion.

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The system handles all your accounting and book-keeping invoicing and payables, payroll, duced inflation, the net effect of hourly or weekly earnings fig ures such factors as changes in double-digit inflation of 1973-74 for example But there are occasions when a too-rapid rise in wages can force up the price level even if the more traditional inflation factors, such as ex cess growth of the money supply, are not present That is. Government policy on the budg et and money supply, affecting total demand, can be duly caii tious. and yet prices can still be "pushed' up The present and forthcoming penod in the Unit ed States appears to be one of those occasions. Arthur Burns, chairman of the Federal Reserve Board the package on real after-tax earnings would be positive And the preliminary signs are that the British unions will accept overtime. It covers production and oth proposal mat would limit labor's opportunity to bargain for wage increases.

Little will be done this year The big electrical, auto, and other wage negotiations will run their course But for the future, it is not unthinkable that the nation will find a way to re er nonsupervisory workers in instant order processing All displayed on the video screen right now. in manuf acturing, you get bill of materials processing and production control. And more! The BasicFour computer gives vou printed sales analyses, management reports that II put you in firmer control of your receivables, inventory and cash. A BasicFour computer will help you grow Now and later No matter what business you re in, if you gross $500,000 up. we can help you do more business, and do it better As we already have done for over 2500 businesses.

the entire nonfarm labor force something close to Mr. Healy's In March, this index was 7 2 per proposal. For the United States Mr cent above a year earlier and it has been rising only gently in turn to noninflationary wage general ledger-all of it! At dramatic savings of time, talent and money (Well train 1 your clerk to run it in a day.) Enter orders on the keyboard vou get instant credit checks. Okun is privately suggesting a similar idea. The inducement recent months Its rise in const derably less than the roughly 10 basic Four corporation rjQ MAI company per cent average increases ne gotiated in union settlements so far this year But this seemingly comfort ing picture leaves two prob lems The first is that, even at 7 to 8 per cent, the average wage The luxury of a Haas custom tailored suit It costs no more totvearthsbest.

increase is well above long term productivity growth of 2 5 to 3 per cent a year, though productivity is likely to show above-average improvement in this recovery period. The second is that large un ion settlements and a gradually Israel Plans New Airline Tel Aviv (AP) Israel is planning a new cargo airline to be headed by Mordechai Hod. the retired general who commanded the Israeli air force in the 1967 Mideast war The new company, with the government as a minor shareholder, will fly exports and imports between Israel and Europe, airline officials said Operations were expected to start next autumn No name has yet been chosen for the cargo line Officials said it will be a joint partner ship of import-export firms, the government, and El Al. the national airline. Retail Sales Soar Retail sales in Little Rock.

Ark topped $1 billion for the first time in 1974 In 1975, sales reached $1 1 billion. tightening labor market may move the economywide wage increase above the fairly moderate figure of the last year. The current wage increases can perpetuate inflation in the 5 to 6 per cent range if they continue As Mr Okun points out. this would be the first time the nation started a period of expansion following recession with "underlying" inflation of that magnitude There is a striking additional fact not always realized if by some wade the nation's entire woi king force accepted for only one "Beggfor r-r One of the world's leading designers of men 's clothing assures siyle and a comfortable fit. All Haas suns, sporl coats and pants are individually hand cut and artistically tailored by skilled craftsmen Now you can enjoy the same quality clothing available at the most prestigious stores throughout the country at our own showroom prices Suits start at just sport coats at just $89.50.

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