Intelligencer Journal from Lancaster, Pennsylvania • 12

I INTELLIGENCER JOURNAL INTE B-4 STOCK QUOTE HOTLINE 291-8888, category 9000 USOMIESS LANCASTER, PA. THURSDAY, FEBRUARY 19, 1 998 Energy prices plunge to Gulf War lows Hersheypark adding roller coaster, but ups admission price again rc a( ECONOMIC INDICATOR Immo Producer MINERMIIMMEIMIONI Index of finished goods prices, 1982100. Seasonally adjusted. Melanie Erwin Intelligencer Journal Staff Melar Inte Ilic 134 133 13'2' 4'. 1' Cb to te 4 i (7; A Lit)11 II 111111111 Change from previous month Jan Dec Nov 412 "In mmm 13.1 130 129 128 12 1.26 1.25 the U.S.

economy, however, by lowering interest rates to spur interest-sensitive sectors such as housing and by cutting into global demand for energy, which helps push energy prices sharply lower. Wall Street was bolstered by the double-dose of low inflation and continued economic strength as the Dow Jones industrial average, which had set five consecutive closing records, pushed higher yet again. The sixth straight record was 8,451.06, the index's first close above 8,400. The Labor Department reported that the 0.7 percent plunge in the Producer Price Index, the biggest one-month drop in more than four years, was led by a 3.5 percent decline in energy prices. It was the fourth consecutive month that energy prices have fallen and the biggest decline since February 1991 when relief over a coming Persian Gulf War victory for U.S.-led forces spurred a rollback in prices.

Analysts said this time around even the prospect of possible new attacks against Iraq has not halted a slide in oil prices that began last fall, reflecting increased production and dampened demand in many troubled Asian economies. With crude oil prices dropping to a 14-year low this week, economists said the good news on energy should last for some time. "The potential conflict has failed to arrest the decline in the price of oil, and even a military strike against Iraq would have only a minor impact on world oil markets," predicted Jerry Jasinowski, president of the National Association of Manufacturers. In a second report, the Commerce Department said that construction of single-family homes rose 7 percent in January as builders responded to falling mortgage rates, which have spurred both sales and refinancing of current mortgages. The overall starts for new homes and apartments dipped a slight 0.3 percent be WASHINGTON (AP) The biggest plunge in energy prices since the 1991 Persian Gulf War sent wholesale inflation skidding by 0.7 percent in January, and construction of single-family homes shot higher on the strength of low mortgage rates.

Analysts said Wednesdays two reports provide evidence that the currency turmoil in Asia so far is having mainly positive effects on the U.S. economy. "At least initially, we are getting more good news from the Asian crisis than bad news," said Robert Dederick, economist at Northern Trust Co. in Chicago. Most economists still believe that the fallout from Asia will shave as much as a full percentage point off economic growth this year, as American exporters lose key markets while domestic producers face stiffer competition from suddenly cheaper Asian imports.

The initial impact has helped 24 --11ULIMIARILAA11-11-111111 A ()NIJ JE MAMJJ ASON 1996 1997 '98 Source Bureau of Labor Statistics AP board at pricing, including group and discount rates, the increase averages to about a dollar, she said. Admission has increased between $1 and $1.50 each year since 1993. "We truly believe the price value relationship is there and we are very much in line with our competition," Schaller said. Because most visitors spend hours at the park, she said, the cost per hour is "very attractive." The theme park has more than 55 rides on 110-acres separated into different areas. Midway America gives visitors a taste of nostalgic amusement parks with a 100-foot Ferris Wheel and the Wildcat, a 1920s cyclone-style wooden roller coaster.

There's an entertainment stage for country, rock and Broadway-style shows. ZooAmerica is an 11-acre home for more than 200 animals representing North America. This is the year of the bear. The Great Bear, a steel inverted, looping roller coaster, is the new $13 million attraction at Hersheypark. It's the main reason the theme park is raising its regular admission $2 this year to $29.95.

The cost of parking remains at $5. The new coaster twists and turns a mile a minute, then rockets 90 feet in the air and plunges into a 360-degree loop. In addition to the new attraction, general operation played a part in the increase, said Kim Schaller, vice president of sales and marketing. "It's a major attraction," she said, noting the rising costs of insurance, electricity and labor is like employing more than 2,000 summer employees. The increase is necessary, she said, to be able to add attractions and remain competitive.

But, if you look across the Th Th verte is th( tion a ICE them lar a $29.9 main Th turns rock( 1311114 In tion, a par Scha: sales "It said, insur labor than Th she tract itive. cause of a fall in multifamily units but remained at a strong annual rate of 1.54 million units. Despite the fact that a robust economy has pushed unemployment to the lowest levels since the early 1970s, inflation at both the wholesale and consumer levels has been well-behaved. unauw. vimomr--- 8 Community coalition criticizes First Union-CoreStates merger Dow hits another record falls an BUSINESS BRIEFS Dana Corp.

reports record 1997 profits Dana Corp. reported record fourth-quarter and 1997 profits. Profits for the Octoberthrough-December quarter rose 23 percent to $86 million or 83 cents per share of common stock. Quarterly sales of $2.1 billion were up 10 percent. Annual profits jumped 21 percent to $369 million or $3.54 cents per share.

Annual sales rose 8 percent to $8.3 billion. Toledo-based Dana, which has a facility on Old Tree Drive, is a leader in manufacturing and distributing automotive products. "We're not asking for charity," said Father Don Graff, chairman of the coalition of Philadelphia churches, schools and community groups. "If they're a bank, be a bank. If they offer credit, give credit everywhere.

If they give loans, give loans everywhere." A study by the EPOP showed First Union, currently the fourth-largest bank in the city, has no bank branches in the eight most underserved or predominantly minority zip codes in the city. In contrast, CoreStates operates seven of the 15 branches in those areas. stanormounnosor Sharon R. King New York Times Sharon New York PHILADELPHIA (AP) The proposed merger between First Union Corp. and Core States Corp.

"represents a major threat to the fabric of life" in low-income and minority neighborhoods, a coalition of Philadelphia community groups said Wednesday. The Eastern Philadelphia Organizing Project said the proposed merger would result in fewer bank branches in low-income areas and fewer loans to black and Hispanic borrowers. The group asked federal regulators to hold public hearings before approving the deal. The banks announced in November that Charlotte, N.C.-based First Union would purchase Core States for $16.6 billion, the largest bank merger in U.S. history.

First Union plans to cut Philadelphia-based CoreStates' $1.5 billion operating budget in half, but the company will not disclose how many bank branches and which locations it plans to close, said company spokesman Jeep Bryant. First Union denied 59 percent of home improvement loans for black applicants in the city, compared to the 52 percent denial rate of all lenders, the EPOP report said. The bank denied 75 percent of Hispanic applicants, compared with a 62 percent rate of all of athletic apparel and footwear, are not talking. Much the same thing happened last May. Unconfirmed Buffett-buying rumors lifted Nike's shares 6.4 percent on May 28.

But the stock dropped with a thud losing more than 13 percent of its value the next day when the company warned that earnings for the quarter about to end would fall short of Wall Street estimates. Wall Street stock analysts are not ruling out a repeat performance in coming days. Nike's stock rose $3.5 on Tuesday, with 6.5 million shares traded. It opened sharply higher Wednesday, but ended the day with a gain of only 25 cents, on slightly less volume, to close at 44 58. While the stock may be cheap by some measures it's a far cry from its high of $75.75 reached a year ago many stock analysts warn that sales growth is slowing in the United States and Asia and that inventory is swelling, all of which means Nike's situation Rhubarb's Market relocates to Lititz Pike NEW YORK The indefatigable Dow Jones industrial average rose to another record Wednesday, as investors shrugged off the conflict with Iraq and Asian economic concerns and took heart from technology earnings.

The industrials gained 52.56 to close at 8.451.06, their sixth consecutive high, and the Standard Poor's 500-stock index rose 9.3 points to end at 1,032.06, also a high. While much of this week's rally can be traced to merger frenzy among stocks as varied at Beneficial and, one stock has been particularly active despite no real news: Nike. For Nike investors, the recent runup amounts to dej a vu. In the last two days, Nike's stock has risen 9 percent, mostly on market rumors that Warren Buffett is adding to his 2 percent stake in the company. Of course, Buffett, one of the country's leading value investors; his holding company, Berkshire Hathaway, and Nike, the maker NEW ble Dow rose to day, as i conflict nomic from tec The close at secutivE Poor's points high.

rally frenzy Benefic particul real nev For runup a In th stock on mar Buffett stake in Of cc country his hoh Hathaw Farm transition seminar Thursday A free workshop on "Effective Financial and Estate Planning for Farm Families" will be held Thursday from 9:45 until noon at the Farm Home Center, 1383 Arcadia Road. Hosted by Lancaster Farmland Trust. this farm transition seminar, which includes lunch, is open to all county farmers interested in learning the role farmland preservation plays in passing a farm on to one's children. The workshop will be presented by American Express financial advisers and James Clark, LLP. The workshop and lunch are free.

but registration is required. For more information, call the trust at 293-0707. mine Rochelle A. Shenk Intelliegncer Journal Correspondent the previous location in Granite Run along Manheim Pike had been open for five years. Henkle and his wife, Sheila, own and operate the natural foods market, which also handles natural nutritional supplements and body care items.

Henkle said that the business opened with one store 11 years ago. That store, located in Stonemill Plaza on Columbia Avenue, is still in operation. "Sheila was raised eating a more natural diet. We opened the store since we didn't feel those needs were being met in this area," Henkle said. With stores located on opposite ends of Lancaster, Rhubarb's is convenient for customers in Lancaster and surrounding areas, Henkle said.

The new Lititz Pike store is located next to Lancaster Shopping Center. Rhubarb's Market has relocated one of its two stores from 1569 Manheim Pike to 1521 Lititz Pike. "With our new location, we'll be better able to serve customers on the northern end of town," said co-owner Greg Henkle. He noted that More STOCKS on 6-8 I miming mvsossirt-ERINIZErAIVIORTiMEIRTMIESBIMIEMA "mgramlisist Ratio Ptsoldwa ti.Pa APR in Program Mg Raab I. PM-0 don LIPS APR gi Program Mato In PtoAl awn UPS APR Program 1 Rate PM-111chm la LIP APR North American NItg.

800-584-1314 30-yr Fixed 6.500 3.00 5 (4 60 6.795 717-397-4338 7.62( 7.35: 7.620 7.353 Aarrow Mortgage 717-295-9905 30-yr. Fixed 6.500 2.50 5'4 60 6.996 15-yr. Fixed 6.125 2.75 5'4 60 6.684 30--yr. Fixed 7.000 0.00 60 7.211 15-yr. Fixed 6.875 0.110 5'4 60 7.195 611 6.996 60 6644 60 7.211 60 7.195 CTX Mortgage Co.

30-yr Fixed 6.375 3.50 15-yr Fixed 6.125 3.00 30-Fix. FHA 6.500 3.00 1-ARM FHA 4,500 3.00 717-569-7000 7( 60 6.785 4 60 6.711 60 6.858 60 4.803 Sovereign Bank 800-765-5056 30-yr Fixed 6.500 3.00 60 6.805 15-yr Fixed 6.125 3.00 54 60 6.620 Best olhoth worlds 4125 3.00 104 90 8.227 51 ARM 6.250 3.00 10(7( 60 7.577 7.367 7.577 Harris Savings Bank 717-39 30-yr Fixed 6.625 3.00 5 60 15-sr Fixed 6.125 3.00 5 60 12-yr Fixed 6.000 3.00 5 60 20-yr Fixed 6.500 3.00 5'7 60 Jumbo and Contruction Loans Priced The 45'4 NI.iirniiiii Finaticinc 5 60 5C7( 60 I5-yr Fixed 30-Fix. FHA 30-FHA ARM 6.500 1.00 5'4 60 6.660 6,750 3.00 2.25 60 7.552 5.251) 2.00 2.25 60 8.309 2.25 1.15 25 25 Wholesale rates are aallable on a sA ide ariety of' morteaee programs! Very aguressive FHA rate undent riling plus fhant first time httyer prugriI1. Ako available VA. FHA.

PHFA. Comaruction and Jumbo financing. (717)581-11650 11 Rko American Finance 800-562-5674 Elverson National Bank 800-ELVERSON United Financial Mtg. 717-397-8887 Keystone Fine'l Mtg. 800-1SEY-8133 30-yr Fixed Call Call 5'4 50 Call I5-yr Fixed Call Call 5'4 50 Call Prime beater Call Call 5'4 180 Call 51 ARM Call Call 10'4 60 Call 6.500 300 5'4 30 6.853 6.125 3.25 5'4 30 6.738 6.000 3.00 104 30 6.665 6.750 2.50 10,4 30 7.059 30-yr.

Fixed 15-yr. Fixed 723 Balloon 30-yr. Jumbo 30-yr Fixed 6.625 20'4 30 6.922 Northest Svgs. Bank 717-392-6264 30-yr Fixed 6.500 3.00 5'4 60 7.266 I5-yr Fixed 6.125 3.00 5'4 60 6.610 30-yr Fixed 7.250 0.00 5(4 60 7.255 15-Ir Fixed 7.000 0.00 5'4 60 7 011 Lim 625-3l I Mt .111) 6534i 121. 24 hr Pre.Aopi 41 A FH A VA 30-yr Fixed 6.500 3.00 15-yr Fixed 6125 3.00 2ii Budown 5.1256.1257.125 3.00 FHLNiC 4040 6.625 3.00 5(4 45 6.930 5'4 45 6.810 5(7 45 7.570 5'4 45 7.060 450 http.lA ikanshp corn 24- how riteline Sik Wvs9-q56' are "ConNtruction Loan Speclahqs.

RI time Boer 7.125'i 0 pt. 1 15-yr Fixed 6.125 3.00 30 6.604 "lailmonnemesatmonionoloonnuossmusommosommtrC4 -1 Bank of Lancaster Co. 717-396-7530 800-711-3262 717-560-2114 30-yr Fixed 3.00 5'ir 30 6.803 Fixed 6.100 3.00 5'4 30 6.593 211 1.00 30 7.121 Lancaster Mortgage 30-yr Fixed 6.500 3.00 15-yr Fixed 6.250 3.00 Jumbo 7.250 0.i10 15-x Fixed 7.000 0.00 800-397-8052 35(i 60 6.515 35 60 6.369 40'4 60 6.417 40fi 60 6.289 Personal Fine'l Ningt. 3(1-r Fixed 6.125 3.13 15-yr hxed 5.75() 3.00 311-r Fixed 6.0011 3.13 15-yr Fixed 5.625 100 Farmers First Bank Fixed 7.375 IWO 15-yr Fixed 7.2511 0.110 311-p- Fixed 6.625 3.13 Fixed 6.250 3.13 FHA. jIl lIfl1 York Federal 30-xr Fixed 6.750 3.00 15-p- Fixed 6.250 3.15) 723 Balloon 6.750 ((IN) FHA 30-Fixed 7 .375 IMO 7.4I0 7310 6.970 6 60 60 60 60 5'i 5'i 800-358-1777 5(4 60 7.050 60 6.733 5ri 60 6.750 60 7.375 60 60 60 60 6.782 6.491 7.377 7.128 5,4 5,4 30-Ar Jumbo 7 I 25 3 00 5'; 30 7229 5' -1 re's Ak Significantly lovter rates with more n.

tasiirrr We make botTov Mg easy! Can Ube Nue 62h1735 em, 3-2, Loi Loan, Istristmon loans aatl.thle e) 717-291-2801 Application Tips lou can apple tor mongage hdr ou tind a to Here It t)I document, )ou 11 need to dprI), tor a loam Central Mortgage 30-yr Fixed 6.500 3 HI 15-yr Fixed 6 25o 1-yr con ARM 5.125 2.25 30-11x. FHA 504) Lighthouse Mortgage 30-xr Fixed 6.5(4) 15-)r Fixed 6.00() 3.00 20-yr Fixed 6.500 3.00 Fulton Bank 30-yr Fixed 15-r Fixed ARM 313 ARM 800-784-1331 6) 7.037 5'i 61) 6.527 54 60 7.1)37 10'4 61) 7.194 331 .037 .527 .1137 .194 717-295-9034 5'4 6(1 6.8110 641 6.7111 5'i 6() 5.33() 2,25 60 6 7S1) 3.00 3.00 3'; 0.00 6.6(10 6.150 5.750 717-560-68()6 3'i 60 6.78() 5'4 60 6 6110 IN 60 6.5(A) 61) 4.5() 31) 3ii 60 60 6.912 6.652 7.754 7 ,895 Phoenix Mortgage Co. Fixed 6.500 2.75 15-r Fixed 6.125 1 1 Farmers I Bond 6.550 (WO i 1-yr ARM 4.251) 3.00 5 wn tilhon ing ri-yr. 1- ReserNe illortes.ttered 7150 IHWI 5'; otta 2(I'K tF, Aid Frre 10A-1n ith tree float option! Atit.redit (treat time to romance. Call about tier bi-xkeekh pmmotiort Gateay FdgKonsulidated 717-295-9751 Mortgage 717-898-9101 30L-r Fixed 15-r Fixed 6 500 5'; 61) 6 795 6 250 2.75 5 641 6 691 Charter One Mortgage 30-r Fi et 6.h25 3,00 15-r Fixed 6.250 3,00 Tto-fix.

FHA 7 olio I 50 Farm home 7.ono 717-560-8830 641 69" 1,,, 673i 2.25 bo sis Cr; 64i 7 346 'lain Line Financial -40- FRed 6000 3(01) 6 L25 3.00) 30-r1-18i81 7.250 11.1011 15-1-1-18ed 6 875 Wm) 717-560-43(4) 5'i 60 6.730 5'i 60 6.2s0 5'i 60 7.200 5 60 7.050 6 940 6 750 7 70 7 670 31)-r Fixed 6 625 2.75 5'i (4) I Fixed 6.375 I SS 5'i (4) FHA 6 S75 2.75 2.75 611 3.1 ARM 5 51)41 31141 5'; 60 Free tot PHIh.flo CR 311-1 ed 7 '50 Ono 5., 640 72540 ic-xr Frked -0 rim 40040 NI ,01) 11. A Ina of sour financial The irt Nvtir paq tv.0 If ou rented. 1 in, I ride the name landlord: It imned. home. iridude the name tt mortgage holder.

The addre-ssers and phone nurnheN ol ail )our tor the past tuo ur pa stuh, tor 36-dass and W-2 tax tomb the Aro that 'ur tir claims ot trkorn from is pensions. imenna and doi Genus. i ed. fik, LA return, tor the 2 wars. pnas statement, tor NO the conipam.

and A orps ot dir and agreement if sou're r1.1 and are pas tng atirnr Three months ot tw3ginal hank statements and ur.nen ot am large 1 and sale, s.ontrao. it find a hole Extended rJte 10,1, a dii.tr,le and lorntx 14 te Gni enteni LArkaNier ott he lit 117,,,,, 44n I 81)11-821-2662 5', 64) (s-5 c', 61) -1M 2 (5 60 6 71s 800-373-3704 7,310 735f1 Tow 7.fool Niortgage NeRork 801)-37. 7ims) 000 30 30-)r 6) 3011 3'i 3it 15-toked 61'5 3 (mo 1,, 141 3'4 30 3'i. 30 Check mortgage rates I. Call 717l 291-8888 2.

Enter the four digit code for the lender our choice Com Net Mortgage (: .5 3 6 7 I ht.I n5to 3 to )ri I 5-, I-Ittcd 3 flu 15-Fiwd 6 (tool 75 3'; 39 6759 ltt-r FiwtI I-HA 6 501) 2.5 2 25 NI '1 7.imm,, 1 ott 3'; 39 7 197 No assets 7 75tt 2.3 4,1 30 "6 i 1-tro CHI 1 25.i loon Int, Ill 4-5 It--- 1 our tpit.t. a pro al IPOTe 1.k.1 i ,1,., Pr Nam Com Net tort; FH A 'VOW 4Ult.k 7 150 het in itnenr 4,4 ter i I I 717-290-M52 to 6-540 61-do ell 721(0 61 1 9-11 Core States Mortgage 81Mt-9q9-38s5 5iNi 3 oil 4 NI tok-1-1 15-r FiNei 625 3 (NI 5'i NI 6 7.7 LmN, s-5 311i 60 7 2t4 1-11 two 2 15 -'51 CoreStates Moi 30-Ar ErwL1 15-. FRei LmN, National Future Mtg. MO-291-79W i-rI-iJ 7 12 WE 5-1, 4 7264 34)-r Erket1 fwj 31o) 5 45 (0,41 15-r 6S-5 5'i 45 7 241 125 45 ftlit4 I Hamilton Nat'l NIrtg. 71 lu-xr Foked 3 tot 5'; 15-r ,00, 3101 5'i i 30-r 115 5- Frczd i'.

5 the letwest ItAtes. liAtelhatitoth 5'; 5 5'. Fr A Ilk i inanctai vn, 'Nen kri Ail( '5 it It, it un 4,1 th .1 4 1 PV 1 aro -ki'lZ Cnikt Akitti, gm! tee, and nag, are India- sne ot ,1,,,, cal aad or tee are 4 Jue lo ti WI ut me pt, Pt 4 i.in um ii 'PL rsit 1.4, 4,11 i Wit -hLti'ljti i 4 kan anj LIP kir Ptc-r c-k-ra-r rat, tee at ra7c Qtr. 4ck: I Ne a pet-, n-- ner of ,.1,, it 1, 41 i i1 A R' rate tee, our pArtkiruk- in thi, mjcie, tAn 9,144,34,1 i- 1 P-ars I riz f- 4 S. v7r.

L.fiftdMatOMEmMMMIEMEMI.InmOta,Ms1.