The Los Angeles Times from Los Angeles, California on January 14, 1969 · 44
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The Los Angeles Times from Los Angeles, California · 44

Los Angeles, California
Issue Date:
Tuesday, January 14, 1969
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14 Part IH-Tues-Jan. 14, 1969 Zo42Lnstlt4Cimt4 Carnation: It's Come a i Long Way I Continued from 7th Page 1 In 1967, Carnation beamed $31,773,464, or 1 about $4.16 a share adjust-jjed for a three -for -two I stock split last year. Sale3 ere $879.2 million. i At midyear, the compa-my reported first half pro-jfits of $15,588,496, or $2.04 la share, up 10 over $14,226,420, or $1.86 a share, in the first half of 1 1966. Sales rose 7 to $457.4 million, j Carnation's stock is one 5 of about 7 of the Ameri-Scan Stock Exchange's approximately 1,250 issues J that have unlisted trading rights. This privilege is 'granted to companies i whose securities were traded on the old New i York Curb Market before the passage of the Securi- ties and Exchange Act of 1 1933. The law required the Curb, as the Amex was Tthen called, to establish ; "stiffer listing and report- ing requirements for com-' panies. Any new issues listed on the exchange must conform to these requirements. J Among the other com-! panies with unlisted trad- ing rights on the Ameri-! can exchange are Rolls t Royce Ltd., the British car I and aircraft engine maker; j George A. Hormel & Co., i the Austin, Minn., meat i packer, and Prentice-Hall Inc., Englewood Cliffs, j N.J., publisher. I What areas of the Carls nation operation are lead ing its growth? The company won't tell. But one thing is certain: the gains aren't coming from its traditional product, canned evaporated milk. "We're holding our market share," notes C. G. Todd, senior vice president and treasurer. But he discloses that the U.S. market is slipping about 3 to 6 a year in terms of unit sales, and that Carnation is experiencing a similar decline. " Another of the company' s markets generally considered weak is that for fresh, bottled milk and milk products. Todd con- j, cedes this is a low profit, s ; low growth field. But he ; notes that Carnation's par-; ticipation is solely west of I the Mississippi, and main- ly in areas where popula-i ; tion and hence demand ! ; for milk is growing faster t ; than the national average. ; One of the company's ! most attractive markets is the pet food field, where i industry sales are growing j' 9 to 11 a year. "We've i ' been keeping up with the industry," Todd says. In v 1968, the company added ; an apparently successful I i new brand Buffet cat i food to its line of dry and ' canned dog and cat food. Todd says last year's j ; second half brought some r improvement to its egg, r poultry and animal feed ' ' business. These operations ; have been depressed by i generally low commodity . prices, particularly for 5 . eggs, and still aren't at i ; optimum profit levels, he notes. '. The company's Trenton Foods division, which sup-plies canned meat and ; ' other foods to restaurants and hospitals, is expand-I: ing the use of its new HOUSEBOAT Your opportunity to buy a 42-ft. completely equipped nevr 1969 Houseboat that tleepi 10. Factory direct at dealer cost, with motor. $10,000 FULL PRICE $2,000 down balance financed by your bank for 5 years. pi ALSO We can arrange with House. boat Rental firm to leas your boat for the amount of your payments which should pro vide you tax shelter benefits through depreciation, etc Lessee pays for the boat, all maintenance, dockage end the repairs. PLUS one month each year FREE use of boat by you. For further details, writes Factory representative for RIVER-CRAFT, INC. Box Z-32-NA, L A. Timet From Cows "cooked before canning" process. The process permits more even cooking of foods in large-sized can3 than is possible under the usual "closed-can retort" method, Todd says. The usual method, in which the can is first sealed and then the food inside it cooked in a "retort," or pressure cooker, works well enough for smaller cans. But in the large cans bought by institutions, this method frequently results in uneven cooking of the contents, leaving the edges overcooked. The Carnation process cooks the food before it reaches the cans and uses a special technique to eliminate unpleasant cooking odors. Carnation makes more than 85 of its own cans and sells more than 35 of its can production to other packers. New Product Tested The company's grocery product sales have been helped by the success of Slender, a dry milk-additive for weight-watchers. However, a companion product, Bodybuild, for those who want to add weight, is still undergoing test marketing, Todd says. Problems at Carnation's 60-owned Brazilian subsidiary have been largely solved (the unit had recently been showing a loss) and in general the company's foreign operations have been showing an improved profit, Todd says. He notes that the milk operation in the Philippines appears to be working out well. Perhaps the most exotic of Carnation's businesses is its growing activity in a r t i f icial insemination, primarily for dairy cattle. Semen from the prize bulls at Carnation Farms, near Seattle, is sent around the country and abroad. Tourist Attraction The farms are something of a tourist attraction; they draw 20,000 to 30,000 visitors a year. In addition to cattle, they house the Carnation kennels, where the company breeds pedigreed dogs partly to promote its dog food. The dog-breeding, while hardly profitable, has been succ essful nonetheless. Bingo, the Scottish terrier, was judged "best of show" over 2,500 other dogs at the prestigious Westminster Kennel Club meet in New York in 1967. The judge called him "the best we have had in years." actorir Buick dealers provide complete One-Stop transportation centers. Transactions are customized to meet every personal and corporate leasing requirement. Leasing from factory authorized dealers insures quick, reliable and expert service with these important advantages: jjc Dollar savings by eliminating the middleman. Time savings by combining sales and service under the same roof. $C On-premise CONTACT YOUR BARNETT BUICK 524 S. San Fernando Blvd. Burbank 849-2291 BECHERER BUICK, INC. 840 W. Huntington Dr. Monrovia 359-3201 BUTLER BUICK CO. 18800 Hawthorne Blvd. Torrance 370-6383 COLONIAL BUICK, INC. 144 S. Glendale Ave. Glendale 245-661 1 GONZALEZ BUICK, INC. 7915 S. Vermont Ave. Los Angeles 753-3201 Coleman Gets Chief Officer's Post at Parvin Delbert W. Coleman, former president of See-burg Corp., has been elected chairman and chief executive of Parvin-Dohr-mann Co., which is undergoing a management and director change following Coleman's purchase of 25 of the company's common stock. Coleman replaces Harry A. Goldman. He purchased 300,000 of the company's 1.2 million outstanding shares, at $35 a share, from Goldman and A. B. Parvin, former president. Parvin has been replaced as president by William C. Scott, former partner in Arthur Andersen & Co. In addition to Coleman and Scott, other new board members are Sol W. Cantor, chairman of Interstate Department Stores; Louis J. Nicastro, president of Commonwealth United Corp., which owns 90 of Seeburg; William C. Bartholomay, chairman of the Atlanta Braves baseball team and John J. Louis Jr., chairman of Comb ined Communications Corp., Phoenix. Holdover directors at Parvin-Dohrmann are E. Parry Thomas, chairman of the Bank of Las Vegas and Continental Connector Corp., and R. A. Furbush, president of American National Insurance Co., Galveston, Tex. Parvin-Dohrmann is a Los Angeles interior decorating firm which has acquired two Las Vegas hotel-casinos the Fremont and the Aladdin. Computer Buys Scotland Firm C o mputer Equipment Corp., South El Monte, has completed the acquisition of D-Mac, Ltd., Glasgow, for 37.000 shares of Computer Equipment common stock, valued at slightly more than $500,000. The Scotland firm manufactures peripheral equipment for computer systems. The agreement was announced last August, but was delayed pending U.S. Commerce Department clearance. HELP! In seconds for your horns, effleo or glint with TELEMERGENCY en 8.0. S. lutomatio t silent burgiarfire ilarm. Resorts directly to proper authorities. Soaet its discovery 1 Rentpurchase, SECURITY OPTICS SYSTEMS, Call for appt. 663-2217 I A. 90004 Lease a ouigec from a QUICK authorize. service department staffed mechanics. IMMEDIATE DELIVERY! FACTORY AUTHORIZED BUICK DEALER HAMILTON BUICK CO. 5747 Van Nuys Blvd. Van Nuys 873-1177 KRELL BUICK, INC. 1095 E. Colorado Blvd. Pasadena 681-6928 LAUESEN BUICK CO. 1656 S. Sepulveda Bl. W. L. A. 272-4319 BILL MURPHY BUICK 9099 W. Washington Blvd. ' Los Angeles 870-1 151 REASON tUICK CO. 909 N. Grand Santa Ana 547-9111 Business Sherwin L. Memel lias been elected vice chairman of the board and a director of American Me-dicorp Inc. . . . W. Noel Eldred and Ralph E. Lee have been named executive vice presidents of Hewlett-Packard Co., Palo Alto. John H. Long has been named president of the U.S. Steel Corp. American Bridge division . . . H. Richard Erdman has been Cutler Named Chief of New Holding Firm Robert H. Cutler, Denver, has been named president and chief executive officer of Transport Group Inc., a new holding company formed by stockholders of the motor carrier-owned insurance companies, Transport Indemnity Co., Los Angeles, and Transport Insurance Co., Dallas. Cutler is chairman of the Illinois - California-Express Co. and a former president of the American Trucking Assn. Robert W. Stevenson, Los Angeles, president of Transport Indemnity Co., has been named vice president of the holding company. Assets of the merged insurance companies are in excess of $100 million, annual premiums more than $70 million and policyholders' surplus more than $21 million. Bank Debits The Los Angeles Clearinghouse Assn. reports Monde debits, tl,09MU,30; corresponding date last year, 1808,455,355. San Francisco clearings, SMl.t00.MO. fc f t oceanograpmc inc. A mutual fund investing in the development and use of the ocean and its resources Midgate Distributors, Inc. 80 Broad St, NewYork 10004 Please tend mo a prospectus en the oceanographlc fund, Inc. T Mama Address City Stat Zip Dealer by factory trained X tiiiifl Willi REYNOLDS BUICK, INC. 345 N. Citrus Ave. West Covina 966-4461 SIMPSON BUICK CO. 8400 E. Firestone Blvd. Downey 861-1261 SPEIGHT BUICK CO. 6909 Santa Monica Blvd. Hollywood 467-3181 WESSEN BUICK CO. 1233 S. Western Ave. Los Angeles 731-8311 IRV WHITE BUICK 250 S. La Brea Ave. Los Angeles 933-8121 & People appointed executive vice president of Hycon Co., Monrovia . . . George H. Z w e r d 1 i n g has been named vice president of United Convalescent Hospitals, inc. Robert P. Licht has been appointed vice president and general manager of the national gunite pool division of Anthony Pools Inc. . . . Curt Hoffman has been named vice president and general manager for Okeh Caterers, Bell . . . Jerome A. Gary has been appointed vice president of operations for National Environment Corp., Orange, while Charles Far-rington Jr. has joined the company as vice president-public relations. Standard Pacific Buys Medford Standard Pacific Corp., Costa Mesa, has acquired Medford Manufacturing, Inc., a designer and builder of guest room furniture for hotels and motels, also headquartered in Costa Mesa. Terms of the acquisition were not announced. Medford will be the prime supplier for Saddleback Inns of America, the recently created motel operation of Standard Pacific. Sales of Medford in 1969 should exceed $750,-000, a spokesman for the company said. Computer Order U.S. Steel Corp. has ordered a $5.8 million B6500 large-scale electronic data processing system from Burroughs Corp. computer division, Pasadena. Notice of Renewed Exchange Offer to Holders of Common Stock of Great American Holding Corporation FOR ANY AND ALL OF THEIR SHARES TENDERED x 4o Convertible Subordinated Debentures, due 1993 and Common Stock Purchase Warrants of NATIONAL GENERAL CORPORATION National General Corporation is offering by its Prospectus to exchange its 4 Convertible Subordinated Debentures and Common Stock Purchase Warrants for any and all of the outstanding shares of common stock of Great American Holding Corporation tendered, subject to the terms and conditions specified in the Prospectus, in the ratio of $50 principal amount of Debentures plus V2 Warrants in exchange for each Share of Great American Holding Corporation common stock tendered. As described more fully In the Prospectus dated January 10, 19(59, the 4 Convertible Subordinated Debentures are due September 1, 1993, contain sinking fund provisions, are convertible into common stock of National General Corporation on the basis of a conversion price of $48.50 per common share, are redeemable after September 1, 1971 and are subordinate to Senior Indebtedness. The Warrants are exercisable prior to September 30, 1978 and each Warrant entitles the holder thereof to acquire one share of common stock of National General Corporation at an exercise price of $40 per share. Copies of the Prospectus and the Letter of Transmittal relating to the Exchange from the Exchange Agent or one of the Forwarding Agents listed below. Manufacturers Hanover Trust Company Corporate Trust Department 4 New York Plaza, 10th Floor New York, New York 10005 In states where the applicable law requires that the Exchange Offer be made by or through licensed securities dealer, the Exchange Offer is being made on behalf of National General Corporation by one or more registered broker-dealers who are licensed under the laws of such states. The names of such offering broker-dealers may be obtained from tie Exchange Agent, or any of the Forwarding Agents. No feet will be paid to soliciting dealers for any shares tendered pursuant to this renewed exchange offer. This announcement is neither an offer to sell nor a solicitation of an offer to buy or exchange the securities referred to above. The Exchange Offer is made only by the Prospectus, copies of which may be obtained in any state only from such of the several registered broker-dealers as may lawfully solicit exchanges under the Exchange Offer in such stale. NATIONAL GENERAL CORPORATION ONE CARTHAY PLAZA, LOS ANGELES, CALIFORNIA 90043 January 10, 1969 Anadite Will Acquire Firm Anadite Inc., South Gate, has agreed to acquire San Diego Aircraft Engineering of San Diego for 50,000 Anadite common shares valued at about $1.2 million. An additional 50,000 shares of Anadite stock will be issued in the future if certain earnings standards are met. Anadite's annual sales exceed $50 million. San Diego Aircraft re Speaking f miew issues by Leo Miller, President The stock market isn't the only source for hot "new issues." Furniture factories are constantly issuing new styles, new colors, new dimensions for making business environments more pleasurable and profitable. Being the big company in business interiors, Miller cashes in on most new issues in office furnishings; certainly the worthwhile ones. Make sure you don't miss any of the hot ones by seeing all that's new Miller's. Miller does the big job in business interiors, because it's the big company. Please call or write my secretary for further information and a free Millerdesign total system brochure. Visit Miller's award-winning showrooms: 2400 Compton Blvd. at Freeman, Redondo Beach. 772-410f. Also at 715 S. Flower St. in downtown Los Angeles. MILLER DESK THE EXCHANGE OFFER WILL CITY TIME, ON FEBRUARY 5, EXCHANGE AGENT Girard Trust Bank Corporate Trust Department Broad and Chestnut Sts. Philadelphia, Pennsylvania 19101 FORWARDING AGENTS Wells Fargo Bank Corporate Trust Department 464 California Street San Francisco, California 94120 ported earnings of approximately $75,000 for the Apartment & Commercial R.ELoans Proposed or Existing Stand-By Commitments Also Available HAYWARD TAMRIN O COMPANY, INC. Mortgage Bankers 2675 W.Olympic Blvd., Los Angeles, Calif. DU 5-8451 SILVER COIN RUSH Hm4 tor smflotloii ftial th lusmttbl sIKsr stows csxnM wit ttw ImtMdiit sswwtary frrstt will msk. Ihs koMina kills liter sum am l Mm anst mfltabla an) frudsnl Inwituwnts at sur tima. Th. PCX E. caa arranaa yarn aurraata M bulk U.S. Slhm rains with S ta Imrata .(cash ar ws aw ynur tains) Ineluitlna uisurta' kank null ataraaa. limit ta stira availabls. PHONE ar WRITE NOW! PACIFIC COAST COIN EXCHANGE 3520 Unf Baarli live) . lonaj Banrh, Calif. 007 Phona (213) 4269379 EXPIRE AT 8:00 P.M., NEW YORK 19, UNLESS EXTENDED. fiscal year ended last Sept. ' 30. - 41969, Miller Desk, Offer may he obtained Wells Fargo Bank Corporate Trust Department 415 West Fifth Street Los Angeles, California 90013 ! t.fh SSSS.. .SS-.SVSV,SW

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