The Daily Item from Sunbury, Pennsylvania • 22

22 THE DAILY ITEM Sunbury, Aug. 14, 1978 Upland Down Wall Street Stampede! Business Industry a "Action Line" holps invottigcito your complaints, htlps tolvo your problem and got answort to your questions. It cuts rod tapo and stands up tor your rights. Send your probloms and photostats of any supporting documonts to "Action Lino," c-o Tho Daily Itom, 200 Market Sunbury, 1 7801 All inquiries should submitted in writing and must bo signed with your name and the cirytownhip, borough or village where you live. These will appear in print.

July 16, 1977 I received my subscrip- money if it were in by June 30. So 1 sent tion to American Home. December 1977 it in asking for my refund. On June 24, 1 I was informed that Red Book was being got back my letter saying they no longer replaced by "American Home. I was had a box.

I don't-know how totget in con- Nothing really changed from timid Tuesday to wild Wednesday nothing, on the face of it, that should have made less fond of caution and cash, more inclined to commitment and risk. i True, the bond market rallied, wbjch conjured up soothing visions of downward, sloping interest rates. But even before bonds bolted higher, there had been signs, rather unmistakable; of a likely, respite from credit concerns. And, we suDDose: while seeking to rationalize the a "Mir J- By Alan Abelson Barron'i-ONS Stampede! Trampling on widows and orphans in their path, breathing fear and snorting greed, like a great herd of bedeviled buffaloes they came, first and then, as their numbers and their urgency increased, thundering into the market. And they bought and they bought and they bought.

What was their hurry? Why the rush? We can speculate on the answers so long as we keep firmly in mind that we're dealing not with normal human behavior but With institutional investors-. After weighing and sifting all the possibilities, we lean to the Red Rose Rigor Syndromer It is an established fact, to borrow an analytical insight from the great psycho-logist, Lyndon Baines Johnson, that professional portfolio managers can't walk and chew gum at the same time. For the past six weeks or so, their concentrative powers were focused exclusively on Pete Rose's hitting streak. When that stunning skein finally was snapped, our big investors slowly wheeled their attention all together now fellows to the stock market. What triggered the panic was a chance remark at one of their traditional watering holes a highly respected member of the pack as he left was overheard to say, 'bye.

Charles A. Mensch Tri-County promotes two men SELINSGROVE Two members of the loan department at Tri-County National Bank have been promoted, according to G.E. Aumiller, president and chairman of the board. Jerry A. Lessman, who joined the bank as a teller in 1974, will serve as assistant cashier and loan officer.

Charles A. Mensch, who joined the bank as a teller in 1970, will serve as assistant loan officer. tact with them, but before I write the Better Business Bureau the postmaster suggested I write Action Line. Also on Nov. 3.

1977, I sent for a one-year subscription for my son $6 to the Joe National Prep Sport Magazine, because my old subscription was running out. I haven't received any issues, only a note' on April 11, 1978 saying they haven't published any further issues yet and they would notify us if National Prep were going to do anything. The address for the magazines: Joe Namath National Prep Sport, 4707 N. 12th Phoenix, 85014 and Wrestling Action, C.P.O. 1256, New.

York, NY. 10001. Thank you for any help you can give us in getting back my money. These magazines are both supposed to be in my son's name which is Jeff. Mrs.

Thomas J. Best, Lewisburg. Action Line at The Daily Item was unable to get a response from At Home magazine, Wrestling Action and The Joe Namath National Prep Sports. Since we know what a problem it can be to get some magazines to respond to inquiries, we referred your problems of nondelivery to a magazine action line, Publishers Clearing House, 382 Channel Drive, Port Washington, N.Y., 11050, an organization supposedly designed to aid in problems such as yours. We must admit we did not get the type of action we hoped for, that is, delivery of the magazines you ordered; but the clearing house is offering you a selection of magazines from which to choose as replacements for the ones your ordered.

It seems that they have no connection with At Home and the two sports magazines. Therefore, the clearing bouse will be sending you a letter and selections of magazines of equal value to the ones you ordered and you may make the replacements at no additional cost. Please understand that you do not have to accept the offer of the Publishers Clearing House; however, at this point, the only other alternative is to continue to negotiate with the magazine companies and wait for a response. 2 area jewelers attend course in quarti-based timekeeping WILLIAMSPORT Two area men have completed a course in quartz-based timekeeping conducted by the Bulova Watch the largest American-owned watch company. William H.

Hackenberg, owner of Hackenberg's Jewelry Store in Beavertown and Tom Wolf, owner of Wolf's Jewelry Store in Danville, attended the course here. The intensive program is designed for watch technicians who handle quartz-based wristwatches that use a tiny bar of quartz crystal which keeps time by vibrating 32,768 times. The all-quartz timekeeping course is conducted throughout the country by Bulova instructors and involves intensive classroom instruction on Jerry A. Lessman Lessman, who lives at 216 S. High is a graduate of Selinsgrove Area High School and attended the Pennsylvania Bankers Association's School of Banking.

Mensch, who lives on Turkey Run Road, Mifflinburg, is a graduate of Mif-flinburg High School and attended the Williamsport School of Commerce. various models of stepper motor quartz watches with dials and training on solid-state watches with digital readouts. 2 area companies attend 'Gehlfest' WEST BEND, Wis. Two area companies were represented at the Gehl Co. six-day "GehlFest." Meckley's Limestone Products, Dalmatia, and Royer's Farm Service, Winfield, were represented, along with 900 Gehl equipment dealerships, among the 2,600 dealer representatives attending the convention last month.

On Famous irrational, one might cite some indica tions that inflation, and notably the food ingredient in that witch's brew, is certain to simmer down from now until the snows fall. Moreover, despite gold's rise to an all-time high which means the world's prospects are at an all-time low the global auguries have not all been bad. The narrowing in the spread between U.S. imports and exports is likely to continue, while the almighty yen for currencies other than the dollar is bound to dissipate. But this kind of tinder has been lying around for a while.

Perhaps what actually set it off was spontaneous combustion. Truth is this hasn't been the greatest seven months for a good many institutional investors. Ever since the trauma of the 74 crash, they've tended to spub stocks, buy bonds and husband cash4 In effect, they've built a Maginot of dubious value in a bear market and worse than useless in the event of a strong run by the Averages. They were, as a result, rather defensive about their defensive posture when the great spring rally exploded. And as the market edged back up in July from the 800 level in the Dow Jones Industrials, so did their anxiety.

Last week, the tension got unbearable. And when the institutions thought they saw the train starting to leave the station, they clambered on board. And, in the scramble, there was no time for all that fancy investment baggage alphas and betas, theories and shmeries they simply snatched up any old reliable in sight Kodak, Du Pont and, of course IBM. If this approach to investing seems, how shall we put it, a little impulsive, jsut consider the alternatives. In other words, big-buck investors substituted one great fear for another: the fear of losing out for the fear of losing money.

And that's as good a definition as any of the difference between a bull and a bear market. Luxurious Our Reg. 59.95 I I I asked whether I would accept Red Book in lieu of American Home. I said, "Yes.u; January 1978 was the last issue of American Home I received. In March wrote Red Book and In April received a letter saying I "would receive Red Book.

Not until June did I receive Red Book and they have the nerve lo tell me my subscription is over October. What about the magazines between January and June 1978? What about those four months I didn't receive any? Should there not be an extension? I would rather have a refund for February, March, April, May, July, August, September and October at $1.25 or $10. Leanor D. Heim, Sunbury. We referred your magazine delivery problem to Publishers Clearing House also.

It seems that Red Book is within their authority or influence, and they called the publishers of Red Book. It is Red Book's claim that you should be receiving your copies since June. There was no evidence of bills being sent to yon. They suggest that perhaps you are receiving renewal notices. Nevertheless, Red Book is going to get in touch with you and make an attempt to rectify the matter and even issue a refund if you still wish.

(According to the complainant, she has received satisfaction from Red Book.) If there are any further problems regarding lack of satisfaction with the handling of these matters, address your correspondence to Robert H. Treller at the Clearing House or notify us here at The. Daily Item's Action Line. I sent a check dated Nov. 1, 1977, of $18 for 13 issues of At Home magazine.

The check was endorsed Nov: 15, 1977. To date, I have not received a single issue of the magazine. I wrote to At Home magazine on March 17. I received no reply. Any help or information regarding this matter will be greatly appreciated.

Thank you, Harold O. Neff, Freeburg. On Sept. 22, 1977, I sent $9 for a subscription to the WWWF Wrestling Action magazine for one year for my son. He received one issue and then none.

So I wrote to the company. Several weeks ago I got a letter from them saying they had unexpected circumstances and if I didn't want to wait until they could get the issues started, then I should send back the slip of paper at the bottom of the sheet and they would refund my Area trucker to vie in 'roadeo' WASHINGTON Robert J. Long of Millersburg is one of six Pennsylvania truck drivers who will travel to St. Louis later this month to vie for top honors and a $1,000 prize in the American Trucking Association's National Truck Roadeo. Long, 36, who drives for Central Storage Transfer, Harrisburg, will compete for the title in the three-axle tractor semitrailer class.

He ia a member of Teamsters Local No. 776, and has driven 900,000 miles accident-free in the last 14 years. Some 250 professional drivers representing 41 states will participate in the National Truck Roadeo; they became eligible by winning their respective state roadeos. All have at least one year of accident-free driving to their credit and most have impressive records which span a number of years of safe driving. Competition' at the National Truck Roadeo is based on the skill and knowledge reoAiFeiJQof professional truck drivers in daily Work.

Contestants are judged on the results of a personal interview, a written examination and their ability to negotiate a driving course which simulates the conditions they encounter every day on the road. Mortgage rates at all-time high Wall Street Journal-ONS WASHINGTON Interest rates on, home mortgages reached record levels in July, and new statistics suggest home buyers face further increases. The Federal Home Loan Bank Board said the average effective interest rate on conventional loans for new homes rose to 9.57 percent, the eighth consecutive monthly increase, from June's previous record 9.46 percent. For existing homes, the average effective rate rose to 9.62 percent last month, up from June's 9148 percent and 0.02 percentage point above the previous high of 9.60 percent set in December 1974. A year ago, conventional loans on new homes had a 9 percent effective rate, while existing home loan averaged a 9.02 percentage rate.

Conventional loans aren't backed by a federal agency. The effective rate includes certain initial fees amortized over 10 years. The average rate actually specified in new home-loan contracts last month was 9.34 percent. These figures are based on loan actually closed during July, rates for which may have been negotiated some time earlier. Ceco sales rise 28 firm in black again With sales up 28 percent from a year 'earlier, Ceco Corp.

reported net income of $2,180,000, or 62 cents per share, for the three months ended June 30, erasing a first quarter loss and restoring the company to a profit position for the half. Net income for the six months was $1,087,000 or 27 cents per share, on sales of $145,355,000. Sales in the second quarter totaled $87,756,000. During the first half of Ceco lost $392,000, or 18 cents per share, on sales of. $116,735,000.

The second quarter last year showed a small profit of $475,000, or 12 cents per share, on sales of $68,712,000. Elmer T. Gustafson, board chairman, said the non-residential construction market has demonstrated its turnaround from the recession and that all signs point upward for Ceco for the rest of this year and into 1979. 0AINvJ7v $70 to $80 Value 114 II LUNASTONE and RONDURESTONE IMPORTED STONEWARE DINNERWARE IN COMPLETE SERVICE FOR 8 in 3 LOVELY PATTERNS All patterns are ovenproof and diswasher safe. FIESTA FLOURISH RONDURE 45 PIECE SETS IN ALL PATTERNS (Except "Rondure" which features Coffee Mugs, which do not require Saucers) Set Includes 8 dinner plates, 8 salad plates, 8 soup-cereals, 8 cups, 8 saucers (except Rondure), 1 platter, 1 vegetable bowl, 1 creamer, 1 covered sugar.

39".