Oakland Tribune from Oakland, California • 53

aw Me' i If i J- tnr 1 1 -I i Senators fr In0 in mew Buncion Honors Start Probe 't T- Of Market 'Mir. I we Emp ser Feb. 1 6, 1969 53 iell Hinging Dsn's An -Alarm IBBBiMniiii Ti. TtTYl -sT padn'notitia fi ftBC jjjgjgjiiiiil Sp5 I i i By GENE AYRES Tribune Staff Writer One day about 40 years ago, the late Henry J. Kaiser and A.

W. Ordway were fighting each other in the back seat of a car speeding across Cuba. Saturday night, Ordway stood amid a host of friends and well-wishers at a Kaiser Center banquet, an event officially observing the naming of a new Kaiser project, a 28-story building. It will be called the Ordway building and along with the present towering structure will house the world headquarters of the far-flung Kaiser industrial empire. Due to a slight swell in the ground the Ordway building will be 13 feet taller than the 390-foot height of the present Kaiser building.

This is no cause for joy to Ordway because the old building is his baby. He was project manager on it at an age when many men spend their time huddled under a shawl. "Mr. Kaiser Employe" is the way Ordway is described by Edgar, present chief of Kaiserdom and son of the late patriarch. It was Edgar who was driving the car that day in Cuba, while his father and Ordway wrestled.

That fight began, Ordway recalled the other day because "H.J. had said something that reflected on my loyalty." Kaiser made short work of him, Ordway remembers. But their teamwork apparently was unimpaired and Kaiser's firm finished a $20 million, 200-mile Cuba paving project with typical dispatch. Ordway, having settled any doubts about his loyalty, went on in subsequent years to head 8 or 10 of burgeoning companies and serve Tribune Financial Editor Did you feel a little twinge the last time a moving van pulled away with your belongings? Was there a nagging doubt about when you might see. your household furnishings again.

Aero-Rlayflower, one of America's major long dis-tance moving companies found over the years that its biggest problem was one of communications. Drivers had trouble contacting their supervisors or obtaining help in case of a mechanical breakdown or other need. Customers became apprehensive when a van was delayed in arriving. The Indianapolis-based company decided to Ao something about it. Stanley Troxel, western area vice president with headquarters in Los Angeles, talked about the ap-.

proach in a recent interview. Aero-Mayflower has equipped 30 per cent of its equipment with tworway radios already and the entire fleet of more than 1,000 trucks will be included by the end of this year. A Second Benefit Troxel.estimates the cost at close to $1 million but points out there has been a second benefit beyond the improved communications. "It is the equivalent of having 25 per cent more equipment on the road," says the vice president. The trucks operate through a national network known as Radio Common Carriers.

As he moves into geographic area the driver consults a directory and tunes in one of four channels maintained by each local station. The driver can then send or receive calls and the radio station can connect him, by telephone, with any point in the country. Aero-Mayflower utilizes a in its Indianapolis headquarters as an aid to planning loads. Before your household goods are ever loaded an estimator has checked them, made an appraisal of the space required in the van and noted any unusually or sized objects that might require special handling. i-: This information is included on a card which goes 'to the dispatcher, along with information on other shipments from the same area headed in the same direction.

7" There's Lofs of Room 1 Troxel says a van will hold 3,000 cubic feet of Unvie anH that tho.avar&cra IrtQf 5c fifiii mihi foot rrt' as" a director ot.that many more. However, since he now is. only the vice president of the parent Kaiser Industries Corp. and a director of the Kaiser Foundation Health Plan and hospitals, it is apparent that he considers himself practically retired, a 1 1 he won't admit it. Asked when he intends to formally retire, he snaps back, "Never!" When the mammoth Kaiser complex filed its written policy of compulsory retirement at 65 with the U.S.

Treasury Ddpartment a few years ago, it specifically exempted Henry J. Kaiser and A- B. Ordway. Ordway will be 82 in August and is the senior Kaiser employe, rounding out his 57th year. On a sunny day, he has the blue, ceiling-length drapes of his 28th floor office close out the sun and the stunning Lake Merritt view because he has eye trouble.

ty Impeccably dressed, white hair thinning, Ordway is an institution within an institution. His conversation is to the point, sometimes' blunt with some of those short words learned when he and H.J. were' "construction stiffs" years ago. He uses the initials A.B., be-i. cause "Alonzo Benton Ordway is too long if you write a check and I must have written a million of 'em.

He still cares about appearances and shoos photographers away from his profile. "Jimmy Durante and I are having a contest," he explains. In the officially sanctioned Kaiser lore, he is known as "Ord." But ninetenths of the people he meets on his jaunty tours of the building call him "Mr. Ordway." A native Iowan, Ordway monetary and credit policy is tracking about right." "After three years of overheating it naturally takes time to regain equilibrium." Brimmer predicted that fte rate of economic growth between the fourth quarter of 1968 and the fourth quarter of 1969 would be 3 per cent or a little less. This would compare with a gain of more than 5 per cent in 1968.

In connection with the tightening money situation, Brimmer said that between mid-December and the first week of February there was an at-ition of $3.5 billion in the banks' portfolios of negotiable certificates of deposit. This meant that corporations were withdrawing their savings from banks to cover their cash needs rather than paying the unusually high interest rates which now prevail. A. B. ORDWAY WAS HEIRY J.

KAISER'S FIRST This new Oakland office structure will be named for By ASSOCIATED PRESS The head of the Senate Securities Subcommittee has begun an inquiry into the problems of the stock exchanges and brokerage houses in dealing with the flood of paperwork which has resulted from heavy trading. At about the same time Manuel Cohen, the chairman of the Securities and Exchange Commission, said that if the current shortened trading sessions don't ease the problem he favors a return to the four day trading week as jwell as reduced hours; Sen. Harrison J. Williams, N.J., chairman of the subcommittee, asked for a report on the situation in a letter to Cohen. The letter was made public by Williams' office.

Williams said in his letter the paper jam "has serious adverse implications for the maintenance of continued investor confidence." He said he was concerned about two aspects of the problem: the slow response to stock sales and purchases, and an apparent "squeeze" on small investors whose transactions seem to be getting less attention from brokerage houses. Williams said he had received "numerous complaints from small investors claiming that reputable brokerage houses have refused to execute orders for their accounts. "These a 1 are not based on the speculative nature of the securities ordered, but rather on the fact that the order is fob small," Williams said. He asked Cohen for a report on what measures the SEC is taking to clear the paper work backlog and "whether new legislation is necessary in this area. Calling the paper work problem one that "has within it the seeds of considerable trouble," Cohen said that "if volume continues lo creep up tljen consideration will have tjb be given to a shortened trading week as well as a shortened day." Cohen said that if trading went on a four day basis the major stock exchanges should close on a Monday or a Friday rather than on a Wednesday as thdy have in the past.

He said the split week resulted in such problems as higher volume in the days following the closing. The securities markets currently operate five days but trades- only from 10 a.m. to 2 m. instead of the normal trading hours of 10 a.m. to 3:30 p.m.

During much of 1968, the markets kept normal hours but closed a day a week, usually Wednesday. Cohen said that "according to. New York Stock Exchange reports, between 30 and '50" member firms had been placed under restrictions because of the paperwork problem, but added that the "number is not that great in relation to the total number of firms." There are about 1,000 brokerage houses in New York. He said the SEC was Watching the situation on a day to day basis and that it would move against any firm unable to straighten out back office problems. Higher Wages In W.

Germany BONN, Germany (AP) West Germans have been told by their government they can expect higher wages during 1969 and that price increases will generally not exceed 2 percent. Presenting its annual economic report for 1969, the government said it expects wage increases will average between 5.5 and cent. Economics MinTsTer-K a 1 Schiller told a news conference the government will do all it can to keep prices steady. He said price increases from 1962 to 1965 averaged 3 per cent but in 1967 it was 1.4 and last year 1.5 per cent. Officials Contend Economy Cooling Kaiser products used In the construction of Kaiser Center, wherever possible.

This was done at the insistence of the elder Kaiser. Once, in planning the 393-seat auditorium, the architect noted a tricky reverse twist in the handrailing.and strongly argued that wood should be used. Only one outfit makes wood, as the poet Joyce Kilmer pointed out, and it isn't Kais-er. The handrails, reverse twist and all, are of Kaiser alumi-num. Edgar Kaiser observed Saturday night: "We are blessed to have an Ord for whom we can name our new building.

It would have been pretty cold to name it Kaiser Center No. 2, or Kaiser Center Annex." There may even be another gold key that will open "every door" in the new Ordway Building. EMPLOYE 57 YEARS AGO the company vice president With that enticing hole In the jground just across 21st Street, and all that concrete to be poured and steel to be hung, would you retire, if you were A. B. Ordway? Neither will he.

Kaiser Steel Dividend Up Kaiser Steel board of directors Friday increased the regular quarterly dividend on the common stock from 25 cents to 37-1 cents per share payable nn Marh 31 to stockholders of record at the close of business March 14. This represents a 50 per cent increase ov.er the quarterly rate paid on the common during 1968. The board also declared the quarterly i i of 36' cents per share $1.46 preferred stock the same dates. SUEUR, MINN. SoOSt nl.r I K-fiiw A Most vans carry at least three loads but there is more business moving from east to west than the reverse, so some eastbound are lightly loaded, Troxel says.

Aero-Mayflower, which did about $80 million in business in 1968, operates on a franchise basis with both its driver and local agencies. The drivers use their trucks and invest anywhere from $8,000 to $20,000 in the equipment. The company provides the vans. The local agency has an exclusive franchise in a given area. It provides local and service storage facilities and personnel for loading the vans.

The next time you are sitting in a hotel or motel room in a new city don't be surprised if the phone rings and a voice says, "This is your Aero-Mayflower driver, we've picked up an hour and will be at your home at 10 instead of 11." United States Government OIL GAS DRAWING -March 17th- On tlits dot th U. S. Dpt.of Interior will accept ntritfofa legal public drawing to award oil gat right on public lands in productive regions. Many of the nation greatest oil fields are on public land and some ot the parcels won in these drawings have had an extremely high potential royalty income for the Winner. These drawings offer unmatched profit potential and tax-shelter.

All filing costs aretax-deductible. Priied parcel are promptly salable for cosh PLUS a monthly royalty income from producing wells or capital gain treatment if hold months. Our geological staff can enter your name for the most prized ear eels in the drawing right along with oil companies and insider. Write for complete information. Adult citizens only.

Send 25s in coin fof postage. Copyright WEST'N STA. GEOL. CORP. Prices Improved for Bonds, Volume Light joined Kaiser as foreman of a road-paving project in British Columbia in 1912, shortly, after he graduated with a degree in civil engineering from the University of Wisconsin.

What was once just Kaiser and Ordway has grown into a colossus with $2 billion in assets. In those early days, "We travelled together, slept in the same room and our arguments knocked down the walls," Ordway recalls. Shortly before Kaiser's death on Aug. 25, 1967; in Hawaii, Ordway had a premonition and flew over for three days of hashing over old times with the boss. "I told him, 'I won't talk one damned word of I got a few belly laughs out of him." "Mr.

Kaiser Employee- admits it was not only fun to work for Kaiser but also was profitable. He once bought Kaiser stock for 6 cents a share. Kaiser bigwigs a few years back gave Ordway a gold key to Kaiser Center "which is supposed to open every door in the place." As he goes through the building, he can show a visitor, the different colors of ceilings and recall how the architect tried to convince the elder Kaiser that they all should be eggshell white. Ordway likes to point to a mutual fund uoiwcmBTi: riease seng nra pio ruirhia An thfinnnhimr Pnnrl ni IMPERIAL .0. lOX 4 DEPT.

OT I VU-ra! Oil i Deaf Dial Direct WITH MANAGEMENT VAN PEABODY JERRY BURKE BUD BLUM pcadody r.iOTono Chrysler Plymouth Valiant Barracuda CALL US 562-4871 SAN LEANDRO TWO LOCATIONS YORK (AP) GovT erriment i i a 1 feel the economy is cooling off after three years of overheated activity, They said they saw the results of the 10 per cent corporate and individual income tax surcharge and a tightening of control over the nation's monetary policy. The evaluation of U.S. economic conditions was made during the week by Paul W. McCracken, chairman of the President's Council' of Economic Advisers; Andrew F. Brimmer, a governor of the Federal Reserve Board, "and Paul A.

Volcker, deputy secretary of the Treasury for international monetary affairs. They gave their reports at a meeting in Paris of the economic policy committee of the Organization for Economic Cooperation and Development. "In general, we are on the right McCracken said. "The budget is back under control and the course of MAKE GOOD MONEY IN HAYWARD Own and operate your own Tobacco Village franchise. Sell the finest tobacco, pipes and accessories to the multi-billion-dollar tobacco market.

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floor 3-room suite -547 sq. ft-panoramic view. Call Mr. Collins, 273-2215. BENJAMIN FRANKLIN Hotel SAN MATEO HOLIDAY INN CONCORD 7 FREE REAL ESTATE INVESTMENT LECTURE SERIES MliertastoiitWi ef three lechmf jii etch city SPECIAL EMPHASIS ON TAX SHELTERS Diand te tiilp yw enalyze and ooluati fat yomalf Are you lookingfbr possible grovvftfbryourmoney? WHAT YOU MUST KNOW KFORE YOU titrad to profits you should the importing oFpre-paymorrt How to me other peoples NEW YORK (AP) Bond prices, improved somewhat in most sectors of the market this past week.

Long-term government bonds continued their upward trend of recent sessions and closed about a half a point higher, according to Salomon Brother Hutzler, national investment firm. This was on top of a 1 point rally the previous week. Intermediate governments and Treasury bills also snowed slight gains, Corporate bond prices in nearly all sectors, but municipal bonds were largely unchanged. The unusually light volume ef new municipals afforded a few tests for. the market.

The Bond Buyer's index of yields Appliance Price Boost Announced PITTSBURGH (AP) -Westinghouse Electric says it is increasing the prices of major appliances by about 3 per cent, effective March 15. The prices hikes wijl apply to such items as refrigerators, stoves, freezers, home laun-derers, dishwashers and room air conditioners. "The present prices of major appliances are ridiculous in the face of the increased costs of getting merchandise to the consumer feaid Rich- J. Sargent executive vice president consumer proaucis on 20 high grade municipals was 4.96 per cent, unchanged from the previous week but still the highest level in 35 years. Bond yields move in-, versely to prices.

The week's only new competitive, utility issue, the $50 million Chesapeake Potomac Telephone debentures, yielded a little less than other -recent new issues. However, the -7 per cent return is the highest yield of any Bell System security since the early 1930s. As borrowing costs and bond yields move hand-in-hand, the 7.0633 per cent annual net interest rate incurred by Chesapeake Potomac also was the highest for the Bell System company since the early 1930s. The 7 per cent yield represented' the fourth successive modern high for a Bell System unit in as many months. The previous high was 6.95 per cent set on Jan.

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