The Los Angeles Times from Los Angeles, California • 55

Marl 9 157 1 -Pari til' 1 Ki Merger to Create Japan's Top Bank Dai-lchi, Nippon Kangyo to Form World's 7th Largest Institution $100y000000 BY DON SHANNON Tlm Wrtrtr STOCKS Continued from 14th Pag sers led gainers 512 to 383 among the 1,137 Amex issues traded. Chesebrough Ponds, off 1 ta on 351,300 shares, topped the Big Board's most active list. Trading in the icrue included a block of 327,300 shares at 45, down IVi. The Chesebrough Ponds block was the largest of 135 traded on the Big Board where 118 large blocks were sold Wednesday; i Fannie Mae. off' at 60 on 309,700 shares, was the second most active issue, following by Ar-len Realty, down 96 to 16V4 on 258,200 shares chiefly a block of 190,400 shares at 1VA.

Block Trades Other large block trades included 213,100 shares of Warner Lambert at 74V4, off 199,000 shares of General Foods at 85, down and 126,400 shares of Monsanto at 38, down 14. Other closing Big Board prices included: Ampex, off 2Ba to 20V4; American Telephone, down at 48; Imperial Corp. of America, up at 15; International Tele- phone, up Vi to 59; Digital Equipment, off 6 to 62VS. American Metal Ulimacx, $50,000,000 SlA Sinking Fund Debentorcs due M3TchAtJ996 Price 100 tTnder the same pressure which has promoted mergers in Japan's steel, automobile and other industries in anticipation of more outside competition as Japan lowers the barriers to foreign capital, Dai-lchi has been seeking to improve it3 position, It absorbed Asahi Bank in 1964 and two years ago failed in an attempt to combine with largely because of the op-' position of Dai-Ichi's president, Kaoru Inoue, who was then chairman of the board. Inoue will be chairman of, the new board, while Kangyo's president, Iku Yokota, will be president of Dai-lchi Kangyo.

Both Dai-Ichf. and Nippon Kangylo have 150 branches each employing 11,436 and 10,901 persons Pennsy Sues to Recover $4 Million Continued from 11th rage compensated for Ills losses, th commute report said. That's when Bevan allegedly arranged to shift railroad money to a consortium of German banks get up in Liechtenstein with Goetz in charge. The funds were borrowed to fi-i a rehabilitation of railroad equipment, the report said, and was arranged by Joseph a Washington lawyer who, with his brother, Francis, represented Could Be Invested the arrangement money could be invested until it was needed for the railroad equipment. Bevan agreed to this arrangement in the hope it would satisfy Goetz for the time being," the re- port said.

"To put it bluntly, Bevan. desired to 'silence Goetz while the EJA controversy was still before the CAB." Not long afterward, the said, Goetz had $4 million shifted to Vileda Anstalt, one of his companies. Assuming that David 'Bevan never believed Fi-'del Goetz could permanently appropriate the $4 million-plus, his decision to divert corporate funds from normal banking channels to attempt to 'compensate Mr. Goetz for keeping quiet about his financial efforts with an illegal venture was grossly the report charged. $50,000,000 TA Notes due March 1, 1978, X.

llkV 1WV SOVIET TRADE Copies of th Protpectm way obtain! in any State owly from uvitrw, xndudint iWtiid. may UwfMy offtr ths tecuritUM in rtuJx Lehman Brothers The first Boston Corporation Drexel Firestone Eastman Dillon, Union Securities Co Halsey, Stuart Co. Inc. Conine. duPcntGloreForgan iiic.

Stats. jvilio Goldman, Sachs Co7 Hornhlower Weeks-Hemphill, Noyes Lazai Kidder, Co. Incorporated Merrill criminatory tariffs on their exports to this country. He complains that government assisted export credits and special insurance, so freely available on shipments to most other nations, are virtually unavailable for many shipments however un-strategic when they're bound for Communist nations. "California would be the first to benefit from liberalization," he says.

"The Chinese, for example, inquired about the possibility of buying airliners here and were turned down, so they ended up purchasing Viscounts from the British. And the food processing machinery made in Northern California is precisely what these countries need to feed their people." Coexistence and commerce are inextricably intertwined, he maintains. "After the six-day war, Moshe Dayan's first move wa3 to open up the bridges so that Israeli oranges could get out and Jordan's tomatoes could come in and so that the shrewd merchants from both countries would start talking to each other and calm things down." Hilton to Buy 6 More of International Leisure JacorporatMl TOKYO Japan's biggestand the world's seventh largestbank will be created by the merger of the Dai-lchi Bank and the Nippon Kangyo Bank, it was announced Thursday. Combined deposits of the new institution would total 3.3 trillion yen ($9.2 billion) and aggregate assets 4.1 trillion yen ($11.4 billion). These figures would easily surpass the 2.6 trillion yen ($7 billion) in deposits and 3.9 trillion yen ($10.8 billion) in total assets of the Fuji Bank, until now Japan's biggest.

No. 1 High Profit Bank The new giant will be known as the Dai-lchi Kangyo Bank literally 1 "number one high profit bank" with each shareholder in the former pair of banks getting shares in the new institution on a one-for-one basis when the merger is completed Oct. 1. This is the first merger among the big five Japanese banks since World War IL Dai-lchi was the first commercial bank to be established in Japan and would have attained its centennial in 1973. During the 1920s, Dai-lchi attained parity with the four Zaibatsu leaders: Mitsui, Mitsubishi, Sumitomo and Yasuda.

In 1943, a merger with Mitsui formed the Imperial Bank, then the nation's largest, but the amalgamation was undone by Gen. Douglaa MacArthur's breakup of the Zaibatsu five years later. STEIGER Writtr Mayer Kerkorian had Tracy sell the 44 interest in International Leisure to Hilton. The agreement contained a proviso permitting Hilton to pick up the additional 6 this year, either through a tender offer to International Leisure's minority public shareholders or by a private purchase from Tracy and other insiders. The $6.48 price set for the private transaction i-the same price as that involved in the initial purchase last year was subject to upward adjustment depending on the level of International Leisure's audited earnings for 1970.

However, International Leisure's profits were disappointing last year, and Hilton is able to demand the minimum price from Tracy. The joint statement by Hilton and Tracy Thursday noted "it seems highly unlikely" that public shareholders of International Leisure would be willing to part with their stock at the $6.48 price, and hence, the statement said, there will be no pub-he tender offer. After the purchase on March 15 of the planned 383,750 International Leisure shares, Hilton will have just over half of the hotel-casino company's 6.6 million shares outstanding. Tracy will retain 2.4 million shares, or a bit under 6. Most of the re- mainder will be in public hands.

Paine, Webber, Jackson Curtis Salomon Brothers Smith, Barney Co. Immrtmttmi White, Weld Co. Dean Witter American UBS Corporation A. G. Becker Co.

Paribas Corporation Reynolds 8c Co. SoGen International Corporation Mitcham, Jones STempleton Continued from 14th Page In his book he recites how several U.S. companies have been blocked by public sentiment or bureaucratic hurdles from supplying eyen nonstrate-gic goods to! Soviet bloc nations. "In jraany parts of the United States random individual and organized groups haye often taken it upon themselves to obstruct all forms of economic intercourse with Communist Countries," Pisar says, recalling a remark by Nicholas Katzenbach, the former undersecretary of state that "their patriotism exceeds their understanding." Pisar says any effort to expand trade faces even, more 'serious hurdles for example, unrealistic guide- lines on which goods are strategic and which aren't. "This country defines strategic goods in a much broader fashion than our Western European or Japanese allies.

We should scale down the list so that certain types of computers, for example not the most advanced can be sold to Eastern countries; or; so railroad equipment can be exported to them." Guidelines on what is militarily useful can be woefully stretched, he says. "Khrushchev once maintained that it would be wonderful for the Russian war effort if we sold them buttons because if the Red army soldiers had buttons on their pants they could aim their rifles With two hands instead of one." Pisar also calls for granting "most favored-nation" status to Communist trading partners, so they'll be attracted to doing business with Amer ican companies by nondis LEASE 1969 CADILLACS Jl 3500. Ml Pleas Caff 868-9931 mm mm CADILLAC 1 cprUd March 10, 1971. "LfU nil jmm. sm.mm IK A )i G0DT1 g(s3W i r-i DDu(( nri lJ Li t3 v5Ll fc BY PAUL E.

Tlmw Staff 'v Hilton Hotels which last year acquired a 44 interest in International Leisure Corp. from JKIrk Kerkorian's wholly wned Tracy Investment Cx, Thursday announced plans to buy an additional 6 of the Las Vegas hotel-. company's stock from Tracy and certain other stockholders. Judging from current market prices for Leisure stock, Hilton may be getting a at Kerkorian's expense. Hilton will be pay-" ing $6.48 a share for stock has recently been quoted in the over-the-counter market at over $14.

i I International Leisure is Hhe company Kerkorian fjbunded two years ago to operate the International and Flamingo hotel-casinos in Las Vegas. i Short of cash last year of his huge invest- inenta to Western Air Lines and Metro-Goldwyn- Grider Goes Post at Newsday Inc. James B. Grider, general of Times Mirror Press, has been appointed vice president and general manager of Newsday Inc. a Times Mirror subsidiary and the nail ion's largest suburban newspaper, i3 located in parflen City, Long Island, N.Y.

Grider helped put into operaton the Orange ounty facility of The Times in Costa Mesa, and became its plant manager in 1968. He returned to Los Angeles as assistant production manager of The Times a year later. In January, 1970, he was appointed general manager of Mirror Press. He joined Times Mirror in November, 1940. SALES POSITIONS Witt tftfiUkl trmrtk Diti prtctsint, mlcnllla prtntlnf tragrlmc.

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