The Los Angeles Times from Los Angeles, California • 49

EARNINGS AEROSPACE .02 Snsflf Cimtl 9 STOCKS Continued from 8th Pajo sixth most active on the Big Board. Airline issues, which en Continued from 9th Pajo jment are inadequate, bur-minimize the importance ofjnjoms and noncompeti- Pacific Lighting Votes 2-1 Split Directors of Pacific Light to spring buying, and an ex tra Saturday were signifi rtefense industry to they've in the civilian field." cant factors in the record Motorola's Profits for 1963 Climb 6 BY JOE R. NEVAREZ Times Se Wrtter Sears February Sates Up 19.3 CHICAGO iD.Il Sears, Roebuck Co. reported February sales set a record for the first month of the current fiscal year of Lockheed. Gross remind- gles volume for FeblarY, areas economy.

the two executives said. a dozen large civilian ing Corp. Thursday voted to split the common stock 2-for- against the aerospace indus- joyed a spurt in recent weeks, were very mixed. Continental was the group's volume leader as it gained 1 point. It wa3 immediately followed in volume bv East- systems, among them transportation, sewage disposal, salt water conversion and exploitation of the ocean.

"Manv of these are onlv Earning? of Motorola. Ipc.iS320.000, respectively, for a r- i -1 1 1 and to increase the present quarterly dividend to 65 on total of 29 cents a share. For for were up cents a share on the common record sales, and Robert W.jthe same period a year ago 00., compared with Calvin, president, predicted ahere were no write-offs of marginally economic and ailiern Air Lines, but Eastern a year earlier, an in- trom bu cents paid in pre architectural costs or the volume in the first quarter try. Gross said is that, having slowed down, it has not made sufficient provision for future growth in unrelated fields, specifically production for civilian markets. "There are thing.s we can do and things we cannot do," he stated.

"If cutbacks in industry occur, vou cannot of them would involve large lost 2. Brokers said the de- crease of 19.3' vious periods. DC-9. increase The dividend is payable dine in Eastern was helped: The percentage wa3 the largest for anv Beneficial Standard Life May 15 to shareholders of along by a rumor that the. omh in the last 11 years.

Insurance reported 1963 commitment of resources and and as yet unknown degree of risk." Furthermore, such endeavors would take Iockheed intrt fipMs in whirh it i company was expected soon! rninc! inrrpaspn 22r nn a increased Llro on a earnings The stock split is subjpct Austin T. Cushman, chairman, and Crowdus Baker, president, said. sales rise of 5 over 1962 reasonably expect the aeros to approval of shareholders at the annual meeting May nnK in iVie pace industry to of this year would be a new high. The Chicago headquartered radio and electronics firm reported net earnings from operations for 1963 rose to or S.T21 a share from $12,192,862. or $3.03 in 1962.

Net sales increased to $377,852,809 last vear from $346,881,779 in 1962. Suburban Gas' sales and Joseph N. Mitchell, president of the Los Angeles- "An early Easter, general ly mild weather conducive 14. baed firm, reported consol basic sciences and technologies, he said. The aerospace industry idated net profits rose to If approved, the stock split will be effective on or about can continue to encourage Investment Counsel Service Have you analyied your investment objectives recently? your present porU folio aceomplithinj then objtdbceat We offer individuals, estates, corporate and institutional accounts of $200,000 or more, personalized portfolio management, on an annual fee basis.

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Robert W. Miller. $4,139,319, or $1.17 a share from $3,450,088, or 96 cents a share in 1962. Consolidated premium in to release an unfavorable income statement. Among the lower -priced stocks in demand were American Photocopy, up "a to i05; Permian Corp.

up to 147a; Crucible Steel up to 24, and Ampex up 1 to 16U. Arvin Active Arvin Industries was active for it and up because of favorable reports about its smog control device. Other wide gainers in New Oil Field in Kern County, Standard Says growth in Southern California, but it cannot do it alone. chairman, reported. earnings reached rec come for 1963 increased to $37,293,013 from $35,476,497 in 1962.

Assets of the combined Standard Oil Co. of California Thursday announced Gross said. Market Held Strong The industry's market still is strong, and there are many opportunities ahead, particularly in civil transportation. He described the super discovery of a new oil field excess people by swift and sudden conversion of our resources to large civilian product programs. "This conversion may ultimately be possible.

We may be able to do something on a limited scale or do it gradually. We cannot do it immediately." Diversified Study The Lockheed executive pointed out that the industry has been conducting diversification studies for some time. But he added: "My own company has several times tried to make invasions into civilian areas somewhat related to our normal fields and without much success companies increased to Putnam Plans Acquisition in Insurance The Putnam Management in the Railroad Gap area of 262.617 from last year's Kern County and of a new cluded IBM up 412, McDon nell Aircraft 38 and High ord levels in the three and nine month periods ended Jan. 31. President W.

R. Sidenfaden reported Thurs-dav. the Tomona-bascd LP-gas distributor said earnings for the third quarter, the three months ended Jan. 31, were $1,645,358. or 59 cents a share on 2,777,179 common shares.

For the like period of the previous fiscal year, net was $1,314,950, or 48 cents a share pool northwest of the town of McKittrick. Voltage Engineering It a. sonic transport p'-ogram as The discovery well flowed the largest and most excit of Boston plans to 82 barrels of 20-deg. gravity oil on test, together with 600 ing of these, involving $8 or UNION OIL Continued from 8th Pat showing Union's net last year advanced to an all-time high of $53.9 million, or $5.73 $10 billion and perhaps man-years of employ Several issues showed a spate of demand in late trading on the Pacific Coast Stock Exchange. Sunray Oil advanced a after the New York close to 3114.

Trans World Airlines, Studebaker and Sunset International Pe MCF of gas. Production is from an interval of 5115-5215 from the Brown Shale ment. acquire majority ownership of Western Travelers Life Insurance Co. of Los Angeles. Directors of both companies have approved the ac Gross said California must on 2.763.379 shares.

Reve a share, from 1962 net of and Antelope Shale section of the Upper Miocene. Gross cited several ob $46.7 million, or $5.01 a continue to attract new business, and suggested the state's business climate quisition. share. Revenues in 1963 troleum each added 'a. Turnover on the NYSE Consummation is subject to approval by the California Insurance Commissioner.

dropped to 4.63 million! shares from Wednesday's1 million. On the American Stock; Putnam is to acquire stacles to conversion from defence to civilian work. Technological require-ments are different. The aerospace industry is not geared for mass production, and hasn't the marketing facilities necessary for commercial sales. "The organizations which not encourage out-of-state companies to locate here.

Gross concluded by denying that he is pessimistic! about the future of the industry or the Southern California economy. "I have lived through a 000 new shares of estern BENEFICIAL NUANCE CO. 139ta CANSECHTrVt IUAITEM.Y CAM MVtDCNI Tbo Board Dkoctora kae declared a quarterly caaO dividend payable March 31, 1964 to atockholdera of record at cloee of buaioeea March 1 1, 1964. Travelers before the end of 1964 and an additional 000 in 1965. Putnam Man agement is manager-sponsor number of technological rev Aim a 'taiie1 hi Ce of the three mutual fund.

olutions. As each one came nues were $10,076,543 versus $8,408,363 last year. For the first three quarters net income 'Increased to $1,857,676, or 67 cents a share compared with or 61 cents a share for the similar 1963 period. Revenues were boosted to $20,089,304 from $16,341,266 a year earlier. Financial Federation.

Los Angeles, reported increased earnings for 1963 despite a federal tax provision of $2,500,000 compared with onlv $77,864 federal tax paid in 1962. Net earnings before allocations to general reserves in 1963 rose to $11,853,519, or $5.07 a share from or $4.86 a share in 1962. advanced to $610.7 million from $569.4 million in 1962. Sad February Noting that the current quarter had started favorably with "a pretty "good first month, Rubel said February figures, not yet fully compiled, "are pretty He confirmed an earlier Time1? survey report that a hard-fought gas price battle plagued Los Angeles area operations during the month. "February is when the gas war insanity reaches a virulent stage, Rubel observed.

It's too earh' to with combined assets of over are adapted to the peculiarities of defease business and dealing with the govern- 600 million. parable Mar IS, 1964 to etockholdre of record at the cloee of buaineaa April 1964 (beinf at the rata of 1 hare for each 10 aharaa held). Common ttock-holdera will be prmleied to bur or aall fraction a. Exchange, prices were mixed on decreasing volume. However, all of the five most active issues on the Amex were up in price.

The leader, Seaboard World Airlines, added a. Then came Syntex up '2, Standard Metals, Massey-Ferguson, and Campbell Chi-bougamau each. Volume on the Amex slipped to 1.34 million shares from 1.39 million Wednes da v. to an end, it was followed by another that carried us to a higher peak." Dr. Norman Topping, president of USC, also addressed the conference.

He called upon individuals and companies to support independent Business People ffaeace eoJcee ie U. Ceeee EEKEU Wm. E. Thomeaoti Thc-Prmdmt Secretary Man 14 Per-Olof Malmsten, Trans-lfor Morrison Knudsen Co. fvtnai 1 pacific Equipment has Inc.

Alonio (Skip) Ward. higher education. been elected president of the 1 of the Palmer newly formed Export Man- House in Chicago, has been named sales manager of the Statler Hilton. Vice presidents named: Assets gained 33ro to $827,416,553 from at the end of 1962. Sav A IMfir? vini Thomas E.

O'Brien, Consolidated Foods Thomas ings also gained 33 rr to $628 i agers Association of Southern California Charles W. Brills has resigned as director and president of Imperial Bank. Leonard D. Callahan has been elected senior vice president and general manager of west coast operations for Gay nor Ducas, Inc. J.

H. Wilson has been promoted to i i manager 101,829 from $471,031,730 last year. Loans receivable predict how the first three months will compare with the first quarter of 1963, he said. Union announced that a subsidiary has signed an oil concession agreement with the ruler of Ras al Khaima in the Arabian Gulf area. Also a party to the concession, which covers offshore and onshore rights on 1.150,-000 acres, is Southern Natural Gas Co.

K. C. Vaughan, senior vice J. Connors. Motorola Semi conductor Products.

I nc. were up 31 rU to $707,240,563 Gen. Paul M. V. St eh I in.

from $536,124,378 at the end former chief of staff of the of 1962. French Air Force, Hughes Aircraft International Serv Foreclosed real estate "AD oggone ice Co. in Paris 1 iff owned as a per cent of total loans was 0.52 at the end of 1963 compared with 0.85 fc at the end of 1962. Pacific Savings Loan Association, Downey, Thursday reported 1963 net in 111 Good Place to Save" come, after federal tax of CONTINENTAL BAKING COMPANY Preferred Divided Na. 101 The Board of Director hi dfcUrti this Lr qiurtrrly dividend of per iture on the ouuundmj 1.5 .50 DtvKlrnd Prrt'med Stock, jviyible April 1, 1964, to ttocLhoIJtra of record at the close of humneit March 13, 1964.

Caauaea Dividend Ha. 74 TV Board of Director! hie declared thit day a rejuLr qmrterlr divv dend, for the firat qmrtf of the yrtt 1964. of 55e per hire on th outstanding Common Stock, payiH April 1, 1964. to hoUeri of president in cnarge or ex-, ploration and said the company's negotia-j tions with the Japanese over selling methane gas from Union's Alaskan gas re-; serves "will likely culminate in some action this year." Moonie Field Producing Vaughan said the compa ny's 40 owned Mooniei Field in Australia Is current-' ly producing 1,500 barrels a day and will work up to a $448,000, was down slighth to $1,685,290, or $1.80 a share. This compared with 1962 untaxed net of 681, or $1.86 a share.

Assets increased to $117, record of cock at the 234,252, up 29.5 over 1962; -v tat loans rose 30 to savings increased 27 to $95,622,966. William Moseley Jones, cbae of buuneM March 13, 1064. The atock mrnrer hooki will not he closed. a. wootwm, March J.

1964 minimum of barrels daily. Oil from the field has started flowing into the 10-in. diameter, 190-mile pipe- president, reported loans de linquent 90 days or more, foreclosed real estate, and i i i I ii iJi line uniting me neia wunji Brisbane. i loans to facilitate the sale of foreclosed propertr where the security is less than the normal requirement were 0.61 of total loans corn- For three generations, a Southern California Savings Account Passbook has been known as the "Blue Book" of Financial Distinction. When you open an SCS account, you join many thousands of the smartest and thriftiest people people who like dealing with the oldest association in Los Angeles County and appreciate the 77-year record of safety and unbroken interest payments.

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Iff i- IS mi If rf. w. Rohr Chula Vista, reported lower earnings on increased sales for 1963. The airframe manufacturer said net income dipped to $1,263,130, or 63 cents a share from $1,490,533, or 75 cents a share in 1962. Net sales increased to $59,403,856 from $52,620,823 in 1962.

Writeoffs for pre-production costs of the new Architectural Division, which went into production in January, and development costs on the Douglas DC-9 program, which will go into production this summer, amounted to $251,000 and $1 Million Contract Awarded Fluor Corp. The Fluor has been awarded a $1 million nn NORMAN ROM BOB CKERNOVE mm N. orman and Bob have held the and Loan Aaaociatiois FIFTH AT OLIVE, LOS ANGELES MADISON 5-7651 LAT I Send Deacriptiv Folder Enclosed find check Leaders Club. Theso men are exceptionally well qualified to represent your insurance interests. Gtt to know Norman and Bob better.

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