The San Bernardino County Sun from San Bernardino, California on January 21, 1978 · Page 17
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The San Bernardino County Sun from San Bernardino, California · Page 17

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Saturday, January 21, 1978
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tfmm'V " ' lJ' " lt -' V. ' ' , fJ"'"",T"'." '""i'1' HF I J , ti p wvmm -11 j .1 . t f"t ' S WVt I "I ") l -)-K"T 111 1 "T "J T" I '"I i "e ri I l K " I I I "I I I 1 "'' . - . ' ' ' " r r ' r r r V v ' ' ' ' - ' ' " " ' ' ' V ' i , , , 4 f 4 y y y , v r w Sat., Jan. 21, 1978 THE SUN-TELEGRAM J S I IT2 CB 3 3 A-17 arket declines slightly The Market In Brief NT Stock (icw(e Issues Consolidated Trjdiiif friti,. Ian 20 Marketeer factory in Redlands reopens IIP 531 VOLUME in storm-shortened session 1552.120 SHASES M By VARTANIG G. VARTAN New York Times News Service NEW YORK Stock prices edged lower Friday in an abbreviated trading session that saw both the New York Stock Exchange and the American Stock Exchange open at noon two hours late because of a severe snowstorm. The blizzard, Wall Street analysts said, also had the effect of muffling the impact of President Carter's State of the Union message delivered Thursday night on nationwide television. Although many brokers and market observers were absent from their offices in New York, the consensus of those reached was that the president said little to send stock prices markedly higher or lower Friday. The Dow Jones industrial average dipped 1.73 points to finish at 776.94. Underscoring the general caution c selected stocks Yesterday's prices from brokerage houses: Alza (Closing) American Nuclear Bank of America (Closing) Dual-Lite Gannett (Closing) International Systems (Closing) Kaiser Steel (Closing) Kroehler (Closing) MB Associates Midnight Mines Newport Pharmaceutical Petroleum Development R.L. Burns (Closing) Sears (Closing) Security Pacific Bank Southwest Factories TRW (Closing) Western Pacific Financial Winnebago (Closing) Worldwide Energy c mutual NEW YORK (UPI) Following is a list ot bid and osked prices on Mutiiol Funds os auotcd by the NASD Inc. Friday Jonuory 20, 1 97! Boln Fd Foursa Gwtti F Incme Soecil F Stck Fd Edie Soc Edson Gl Egret Fd Elfun Til 17 21 Nt I44NL. 9 92 10 78 (2) (2) Bid Ask Fairtld 163 9 31 Arorji Fd A4v Inv Atuture AGE Fd Allstate Alpno Fd Am Birth Am Eqtv 15 45 NL. (2) (2) (2) 12) 5 56 5.67 27 N.L. 10 26 N L. (2) (21 4 72 5.16 Federated Group: A Leodr Empre 4th Em Hi Incm Clot Inc Tax Fr 13 10 N L. Fidelity Group: Bnd Cut (2) (2) Amer Funds Group: Am Bal 7.67 8.38 Captal (2) (2) (2) (2) 100NL. Contra Dly Inc Dest Eauitv I Fund Maglln Muncp Puntn Salem F Thrift Amcop 6.15 6.7 2 8 97 9 80 14.50 1585 6 49 7 09 5 20 5.68 15 II 16.51 12.81 14.00 15 14 16.55 Am Mut Bnd FA Cop F A Gtt! Am Inc Am I C A Nw Prs (2) (2) Wash M 6 09 6.66 Amer Gen'l Group: Trend A GCBd 8 73 9 54 Fin d Programs: A GCGr 3 69 4 03 Fin Ovn 4 90N L. Fin Ind 4.05 N.L. Fin Inc 7.13 N.L. A Gnlnc A G Ven Eaty Gr Fnd Am Provt In Am Grth Am Insln Am Invst A Iv Inc AmNt Gr 6.18 6.75 1397 15.27 6 27 6 85 6 13 6 70 3 74 4 03 580 6 25 4 63 5 06 (Z) (21 (2) (2) 2.83 3.09 First Investors: Disc Fd (2) Grth Fd (2) (2) (2) Incom Stock F 1st Multl IstMl Inc 44 Wall (2) (2) (21 (2) 7 55 N L. 10 00 N.L. 16 52 N.L. Anchor Group: Daily In 1.00 N L. Fdn Gr 3.71 4.05 Founders Grouo: Grwth Incom Spectr Grwth 4.13 4 51 Incom 11.4712 54 F Mtuat 756 826 F Soecil 9.27 10.13 Franklin Group: Brown 3.17 3 42 DNTC 6 80 7 33 Gwth Sr 5.27 568 Fnd Inv Wa Natl Axe-Houghton: Fund B 7 36 8 00 Incom 4 86 5 28 Stock 5.32 5.81 BLC Gth X10 45 11.42 BobJ IX 1.74 N.L. Bobs Inv 8 59 N.L. Bxn HI 8 44 N L. Beacon 8 .88 N.L. Berger Group: 100 Fnd (z) (zl 101 Fnd (z) (2) Berkshr (z) (z) Bondstk 4.63 5.06 Bost Fdn (z) (z) Calvin Bullock: Fr Incm 1 76 1.90 9.371010 4.72 5.09 3.13 3.37 USGv S Utilitie Res Cap Rs Eaty 3.41 368 7 70 7.82 Fapock Funds Inc Group: Camm 8.01 NL. 7 73 7 93 Impoc Indus tr Pilot GE S-SP Gen Sec Grth Ind 9 67 9.92 1.05 N.L. (2) (2) 8.51 N.L. 16 75 N.L Bull Fd 11 54 1261 Hamilton Group: Cdn Fd (2) (z) Fund 3.80 4 15 Div Shr Incom Natwd NV ven CG Fund CG IncF Cosh Rsv Cop Prsv Cent Shs Chal Inv 2 62 2.86 14.22 15.54 903 9.87 10 96 II 98 z (2) U) (2) 1 00 N.L. 1 00 N.L. 9 78 10.54 9 76 10.67 12 74 13.92 Grwth Incom Hart Gth Hart Lv Heritge HYId Sec Holdg Tr Horoce Ind FAm Intrcap III Invest Inv Guid Inv Indlc 6.53 7.14 6.37 N.L. 12 S3 N.L. 8.09 N.L. (z) (zl (z) (2) 100 N.L. (Z) (2) (Z) (z) 100 N.L. 10.04 10.97 8.58 N.L. Chart Fd Chase at Boston: Fnd Bos Fron CP (z) (zl (z) (z) (z) (z) (z) (z) 6 48 7 08 1064 N.L. (2) (2) (2) (2) ShTr Bs Specl Chem Fd Chep Dot Inv Bos Investors Counsel: Capam 8.39 8.99 Capit Sh 6.01 6.46 Investors Group: CNA Management: Librty (2) (2) IDS Bnd J .72 593 Monht (2) Schus F (2) Colonial Funds Conver (2) Fund (z) Grwth (z) Incom (z) Opt Inc (z) (2) (z) IDS Gth 5.47 (z) IDS ND IDS Pro IDS Tax Mutual Stock Select Vor Pay Inv Resh ISI Group: Grwth Incom TrPa Sh Trst Sh Istel Fnd Ivy Fund J P Gwth Janus Fd Johnstn 4 59 4 99 3.01 3.28 5.01 5.26 854 9.28 16.62 18 07 916 9.85 5.96 6.48 5.04 5.51 Colum G 14 83 N.L. Commonwealth: A 4 B .94 1.01 (z) (2) (z) (z) (z) (z) (z) (z) 18 56 19 11 (zl (zl (z) (z) 17.78 N.L. 18.56 N.L. C Comp Bd Comp Fd Concrd Cons Inv Cnsln gw ConMt In Contry C 1.39 1.50 8 27 8 89 7.10 7.63 (z) (z) (Z) (2) (2) (2) 6 02 N.L. 10 75 II 62 Daily Inc I 00 N.L John Hancock Delaware Group. Balnc (2) Bnd Fd (21 Grwth (2) Kemper Funds: (Z) (z) (z) Decatr II 35 12 40 Delch F . 9 06 9.49 TxF Pa 9 54 9.99 Delw F 1034 11 30 Delta T 4.83 5.28 Drect Cp 4 06 4 44 Dong Bol 20.46 N.L. DodgCx 14 55 N.L. Dr Burt) 8 93 N.L Dreyfus Group: Incom 10.5211.19 Grwth 6 97 7.62 Mon Mk Mun Bd Opt Inc Sumit Technl Total R 100 N.L. 10 80 11.34 12.60 13.77 11.06 12 .09 6.76 7.39 9.41 10.28 Dryt Fd 10 65 11.64 Dryf Lv 14 84 16.22 Keystone Funds: Dryf LA Nivnb 9 Sp Incm Tax EB 3rd Cent 9 98 N.L. 5 53 N.L. 7.12 N.L 15.71 N.L 13 10 N.L, Cust Bl (zl (z) Cust B2 Cust B4 Cust Kl Cust K2 Cust SI Cust S3 Eagle Gr 8.60 9.40 Eaton I Howard: of investors," none of the 65 components in the Dow Jones industrial, transportation or utility averages changed as much as a point, either up or down. Volume on the Big Board contracted sharply to 7.58 million shares from Thursday's 21.5 million shares. Composite trading in all issues listed on the New York Stock Exchange fell to 9.52 million shares from 24.66 million shares. Brokers noted that it was imperative for stock exchanges and investment-firm offices in New York to open Friday, inasmuch as it marked the final trading day for the January option series. Options give their holders the right either to buy or sell the underlying stock prior to an expiration date. It was particularly Important for in-the-money op- Prev. Bid Asked Bid 44 9 9 m 21 21 11 11 11 353A 35 11 11 27 27 9 9 2 2 2 4 4 4 5 5 5 2V4 2Vz 2V4 11 12 25 26 28 28 28 3 3V 3 29 29 5 5 5 3 3 4 4 4 funds Cusl 54 (!) (2) Polors (z) (:) LeKington Grouo: Co Ledr 11 9 1291 vovao Rombw Resery F Revere F Sotec Eg Sateco G St PI Cop StPI Gth (21 121 221 N.L. 1 00 N L. (2) (2) 8 43 9 21 9.31 10.17 7.19 786 Grwth 899 9.83 Incom Resrch 1019 11.14 13.94 15.23 Lite Inlv 7.75 8.47 7.32 8.00 Lincoln National: Scudder Stevens: Selc Am 6 66 N L. Selc Spl 12.10 NL. Loomis Sovles Fds: Cap Dv (2) (2) Mutual (2) (2) Lord Abbett: Atfilat 7.04 7.59 Bnd deb 10 56 11.54 Incom (z) (2) Lutheran Brother: Broh Fd (2) (2) Bro Inc (2) (2) Br MBd 10 .25 11.20 Bro US 9.5810.47 Massachusetts Co: Freem (z) (z) IndpF (2) (2) Moss F (2) (2) Comon (2) (2) Incom Intl Fnd Mat Rs Mun Bd (2) (2) (2) (2) 9 99 N.L. 10.33 N.L. Specal (zl (z) Security Funds: Bnd Fd 10161045 Eauitv 3.79 4.14 7 08 7.74 Invest Ultra F 9 76 1067 12 29 13.36 Sentry F Sentinel Funds: Grwth 7.70 8.37 Truste 9 62 10.46 Sentint) Group: Apex F 3.48 3 80 Bol Fnd 7 43 8 12 Com Stk 10.95 11.97 Shareholders Grp: Comst 6 00 6 56 Entrpr 4.75 5.19 Flet Fd (2) (2) Harbr 8 26 9 03 Legal L 6 02 6 58 Poce Fd 12.34 13.49 Sheorson Funds: Appro 16.15 1765 Incom 18.11 19 79 Invest 904 988 Sh Dean 18 .10 N.L. Sirra Gr 8.63 N.L. Moss Finonc'l Svcs: MIT 8.88 9.57 MIG MID MFD MCD MFB 7 76 8 37 13.77 14.95 11 76 12 68 14.08 15.18 15 32 16 52 MMB F 9.59 10.07 14.39 N.L. Mather Merrill Lynch: Basic VI 9.41 9 80 Cptl Fd 12.11 12 61 EauiB 1 965 1005 Mun Bd Rdv Ast 9 79 9.99 100 N.L. 5 00 5.46 1.00 N.L. 8.49 928 (Z) (Zl 8 56 9 36 (Z) (Z) (Z) (Z) Sigma Funds: Mid Am Money M Mony Fd MSB Fd Mtl Bn F MIF Fd MIF Gro Coo Shr (2) (2) (2) (2) (2) (2) Inv Sh Trst Sh Ventur Smith B SB l&Gr So GenF Swst Inv Sw Inv G Sovr Inv (2) (2) 9.17 9.65 12.09 12.73 (2) (2) 7.23 7.82 4.57 4.94 10.78 11.78 Mutual of Omaha: Amer 11.34 II .87 Grwth 369 401 Incme 896 9.74 Tax Fr 1528 16.61 Mut Shrs 29 05 N.L. Nat Indu 10.05 N.L. Nat'l Securities: Bolanc 8 83 9 52 Bond ST 4.47 4.82 Dividn 390 4.20 Pref Stk 7.07 7.62 Incom 5.32 5.74 Stock Sr 7.36 794 Grwth 5.19 5.60 New England Life: Spectra 4 65 N.L. State Bond Group: Com Fd 3.78 4.13 Divesit 4.54 496 3.64 3.98 9.17 N.L. 5.50 N.L. (Z) (Z) Progrs St Fr Bol St Fr Gr Stote Str Steodmon Funds: Am Ind 2.21 N.L. Asso Fd 1.06 N.L. Invest 1.31 N.L. Ocean 6.05 N.L. Stein Roe Funds: Bolanc 15 97 N.L Eauitv (2) (2) Grwth (2) Incom (2) Ret Eat (2) (Z) (z) (Z) Capitl 8 59 N.L. Stock Strat Gth Survey F Temol G Temp ly Tran Cop Tron Inv Trovl Eq Tudor H 20th CG 20th CI 10 91 N L. (zl (z) 849 9.28 13.01 14.22 1.00 N.L. 6 73 7 32 9.00 9 78 (Z) (Z) (Zl (Z) 4.09 N.L. 6 26 N.L. Neuberger: Energ 13 26 N.L. Guard Partnr NEA Mt Newtn G Newtn In New Wld Nichlas Nmura Nest Ivtr Nuveen Omega 25.14 N.L. 9.39 N.L. 7.54 N L. 11.41 N L. 9.47 NL. 10.16 N.L. 16.85 N.L. 9.62 10.34 14.62 N.L. 9.68 1014 Unified 7.99 N.L. Union Service: (zl (z) (Z) (Z) Brd S Iv 10 06 10.85 Natl Inv 5.67 6.11 Un Copt 11.05 11.91 Union In 11.5912.50 United Funds: One Will Oppenheimer: Aim Fd 8.79 9.61 Op Fnd X5 29 5 78 Incom 832 909 Mony B 1.00 NL. Opt Inc 22 96 2509 Tax FB 10.44 N.L. Time F X7.74 8.46 OTC Sec (z) (2) Paramt 8.34 906 Penn Mt (2) (21 Peon Sa 6.83 N L. Philo Fd 6 65 7 27 Phonix C (z) (z) Phonlx F (2) (2) Pilgrim Group: PIT Frm 11.61 12.32 Captal 3.13 3.32 Incom 9 26 9 75 Pilg Fd 8 74 9.20 Pioneer Funds: Pion Fd 13.56 14 82 Pionr II 16.44 17.97 Plomtd (2) (Z) PLI Gro (2) (z) PLI Trn (z) (z) Price Rowe: Grwth 9.53 N.L. Incom 9.75 N.L. Nw Era 9.93 N.L. Nw HOT 7.49 N.L. Tax Fr 10 26 N.L. Pro Fd (z) (z) Pro Inco (2) (2) Provd Gt (2) (2) Prud Svs (z) (z) Putnam Funds: Conver (z) (z) Accum 5 97 6 52 Bnd Fd 7.15 7.81 Cont aw Cont Inc Incom Mun Bd Scienc Vangd Utd SvcF USAA Co 8 43 9 21 891 9.74 9.43 10 31 10.11 10.53 5.37 5.87 5.23 5.72 2.06 N.L. 7.05 N.L. USAA In 11.39 N.L. US GvtS 940 9.S4 Value Line Funds: Vol Lne 7.22 7.41 Val Inc 488 5.01 Lev Gth 118612.16 Vol Spc 4.31 4.42 Vance Sanders: Incom (z) (z) Invest (z) (z) VS Com (z) (z) Specl (2) (2) Vanguard Group: Explor (2) (2) 1st Indx (2) (2) West (z) Moron Trust Welsly Welltn Wstmn Windsr Varied I WallSt gr Weing eq (Zl 5 77 6.31 12.07 N.L. Equity Georg Grwth Incom Invest Option Tox Ex (2) (2) (2) (2) wstld Gr 6 64 7 22 Wise Inc X4.88 N.L. (z) (z) Wood Struthr Win: (Z) (Z) Devg M 28 86 N.L. W z Neuwr 7.83 N.L. ' ' NL no load, x-ex- (2) (2 rilulriewt Vista F (z) (z) i-unavaiiable. tions, or those carrying the equivalent of a cash value, either to be sold or exercised Friday. Otherwise, persons owning these in-the-money options could have suffered financial losses. Amex options volume totaled 20,882 contracts, down from the previous day's 40,304. On the Chicago Board Options Exchange, 96,846 contracts changed hands, down from 109,841. The broadcasting and cement groups provided the stock market with much of its excitement Friday, as most industry sectors remained relatively quiet. American Broadcasting Companies, the volume leader, sank 1 points to 35 while RCA Inc. rose 1 V to 25 as the third most-active issue. A critical factor in both price changes was the announcement that Fred Silverman, the program chief of ABC-TV who led that network to first place in national ratings, will leave ABC. He will become the UP to spend $585 million OMAHA, Neb. (AP) Plans for capital spending of $585 million in 1958, a high for the company during a year, were announced by the Union Pacific Corp. Chiairman James H. Evans said the plan represents an increase of $167 million or 40 percent over capital expenditures during 1977. Evans said each of the corporation's operating companies will invest at record levels, with more than 60 percent of the expenditures earmarked for the Union Pacific's energy businesses. The Union Pacific Railroad's share will be $220 million for capital improvements, a $15 million increase over last year's outlay. Dollar recovers some of early loss NEW YORK (AP) The dollar closed marginally lower against major world currencies on foreign exchange markets abroad and in the United States after an initial sharp decline Friday. U.S. trading was light because of a severe snowstorm on the East Coast. Gov. Hugh Carey declared a bank holiday because of the weather in New York, and activity was closed or limited at many banks in the center of U.S. currency trading. Foreign exchange transactions came to a virtual standstill in Europe by late afternoon, when New York business usually starts coming in. One Chicago dealer described the volume as "excruciatingly thin." Dealers around the world said President Carter's State of the Union address Sinatra sues over name use by developer LOS ANGELES (AP) -Singer Frank Sinatra has filed a $1 million suit against a land developer for using his name in real estate advertisements. Sinatra's suit, filed in Superior Court, alleges that Creative Financial Corp. of West Los Angeles used the singer's name to advertise a Cathedral City shopping center located on Frank Sinatra Drive. ' "Our attorneys say that if you use the name of the street, no one can stop you from doing that," said Creative Financial's president, Burton Lefton. Sinatra's suit says the developer was twice asked to stop using the name "Frank Sinatra Drive Center" on a sign promoting the shopping mall but the company refused both times. Fred Skidmore, a spokesman for the singer, said Sinatra never offers comment on current litigation. top executive of the National Broadcasting Co., the broadcasting arm of RCA. Also helping to send RCA's stock higher was a report by the company showing that December-quarter profits rose by 17 percent. Meanwhile, Merrill Lynch lowered its intermediate-term opinion, which encompasses a time frame of up to one year, for ABC's stock. Merrill Lynch, in reducing its rating from "0. K. to buy" to "Neutral," cited the management change. The brokerage firm also reduced both its intermediate-term and long-term opinions on CBA Inc. This stock slipped to 46 . Cement stocks provided the Big Board two of its best percentage gainers. General Portland, Inc., rose 1 to 12, while Alpha Portland Industries moved ahead 1 to 19 after gaining 2 V points on Thursday. John C. Kenefick, railroad president, said $156 million will go for equipment and $64 million on road and fixed plant improvements. The program calls for 2,565 freight cars and the purchase of 800 jumbo grain hopper cars. Other scheduled items are 280 miles of continuous welded rail, construction of 100 miles of centralized traffic control signalling and related equipment on main line track, and construction of an automobile unloading facility near Denver. Champlin Petroleum Co., Rocky Mountain Energy and Upland Industries Corp. are other Union Pacific subsidiaries participating in the capital spending program. Thursday night drew mixed reviews. The dollar started the day with a sharp decline as dealers expressed disappointment that Carter failed to announce new economic measures to bolster the currency. But the losses were mostly recouped as dealers reflected on Carter's address. Profit-taking, technical factors and support from European central banks also edged the dollar back upward. "Things settled down when people realized that although he said nothing new, he at least confirmed the U.S. intention of keeping the dollar stable," said one dealer in London. Carter's annual economic report to Congress, in which he repeated that the United States would fight speculation in currency markets, came too late in the day to affect prices. Closing rates for theldollar in New York were: 2.1219 West German marks, down from 2.1258 Thursday; 1.9990 Swiss francs, down from 1.9960; 4.7292 French francs, down from 4.7415; and 241.83 Japanese yen against 241.88. The British pound cost slightly more and the Canadian dollar less. The pound was $1.9345 against $1 9330. The Canadian dollar cost 90g44 cents compared with 90.49 cents Thursday. Gold, meanwhile, eased slightly. The metal closed In Zurich at $173,375 an ounce, down from $173,625 overnight. In London gold closed at $173.25, down from $173.50. Late dollar rates in major foreign financial centers were: Tokyo - 241.625 Japanese yen, down from 242.375 late Thursday Frankfurt 2.1200 Deutsche marks, down from 2.1250 Paris 4.73375 French francs, down from 4.7470 Milan 872.15 Italian lire, down from 873.45 Zurich 2.00625 Swiss francs, up from 1.9985 V 520 ISSUES TRADED DOWN S22 N t SE Nci 49 73 0 09 S t P dtp WW - 020 DowiOMSlri 77B 94 - 1 73 Storm disrupts markets NEW YORK (AP)-Commodities exchanges in New York were closed Friday and the start of trading at the nation's largest stock exchanges was delayed as Manhattan's streets were buried in a foot of snow. The Chicago Board of Trade and Mercantile Exchange opened on schedule. The New York Stock Exchange said it was unable to open at its normal 10 a.m. trading time but opened at noon. The American Stock Exchange also opened at noon, two hours later than normal, according to a spokesman. At the Philadelphia-Baltimore-Washington Stock Exchange in Philadelphia the opening was put back one hour. Trading opened normally at Chicago's Midwest Stock Exchange, and the Boston Stock Exchange. The Pacific Stock Exchange in San Francisco also opened but delayed trading in options until later. U.S. corn planting to decline WASHINGTON (AP) - Farmers indicate they will cut back slightly on corn plantings this spring but may give a hefty boost to soybeans, the Agriculture Department said Friday. In its first general look at 1978 harvest potential, the department said surveys on Jan. 1 indicated that farmers may plant 79.3 million acres of corn, a reduction of 2.1 percent from last year. But soybean plantings could hit a record of 63.1 million acres, an 8 percent increase from 58.3 million in 1977. A senior department official said the report did not indicate that the nationwide strike called by the American Agriculture Movement has had an impact on 1978 crop planting intentions. The Colorado-based movement wants farmers to quit producing crops until their prices are raised. Faced with rising grain surpluses, the Carter administration has taken steps itself to curb 1978 production, including an acreage set-aside plan for wheat and one tentatively announced for corn. Howard W. Hjort, the department's director of economics, told a news conference that the report showed farmers Intend to plant slightly more land to the 12 crops surveyed than had been anticipated. Asked about the impact of the strike movement, Hjort said, "it would seem that relatively few farmers were planning reductions in excess of the set-aside" program to curb grain output this year. But Hjort cautioned that the report "is an indicator and an early indicator. That's all it is." Farmers still have several months before spring planting of major crops and could change their minds before then, he said. metols NEW YORK (AP) Spot nonferrous metal prices Friday: copper 63 cents a pound, U.S. destinations; lead 33 cents a pound; zinc 30V cents a pound, delivered; tin closed; gold closed; silver closed; quicksilver $148.00 nominal per flask, New York. j)l,680 By MIKE MURPHY Sun-Telegram Staff Writer REDLANDS - Nordskog Industries of Van Nuys has re-opened the former West-inghouse Marketeer plant here following recent purchase of the maker of electric vehicles. Nordskog plans to resume production of the entire Marketeer line of golf carts and industrial trucks under the name Nordco Marketeer. A company spokesman said the industrial products division of Nordskog's subsidiary known as Nordco was the top sales and service agency for Market R ain consequences Gains outweigh losses for farmers in county By JOE BAKER Sun-Telegram Business Editor SAN BERNARDINO County farmers probably gained more than they lost from the more than three inches of rain that fell here since Jan. 14, the county Department of Agriculture said Friday. "Brown rot did continue to affect the lemon crop," said Richard A. Campana, assistant agricultural commissioner, "but it looks now like there will be a dry period which will enable the growers to get in and treat the fruit to keep the condition from spreading when the lemons are stored prior to packing." Brown rot in lemons and a similar clear rot in navel oranges was first noted after more than three inches of rain fell from Jan. 3 through 11 with insufficient time between rainfalls for the fruit to dry. Campana said brown rot is a fungus caused by prolonged water soaking, and can be checked by spraying with a copper sulphate mixture if another rain does not wash it off too soon. He said harvest of some of the lemon crop, mostly in the west end of the county, can begin immediately, continuing for the next two months as more lemons ripen. The fruit is harvested three or four r. eer for 20 years. When Westinghouse owned the plant, it employed about 200 persons. It was purchased by HMK Corp. in 1976. HMK went bankrupt in 1977 and closed the plant last July, with the plant reverting to Westinghouse ownership. R.C. Gray, manager of the Redlands plant for 11 years, is returning to manage the new operation, which is expected to employ 150 persons within six months. Gray said he has already hired 20 persons to resume operations. Gray said the primary times a year. Last year the county's 1,368 acres of lemons yielded an estimated $3.2 million in gross returns to growers. "Lemons are graded by color as well as size, and they're stored for a time to get the right color. In storage prior to packing, brown rot can damage unaffected fruit, but the extent of the damage can't be estimated until the fruit is ready for packing," said Campana. Potential losses from brown rot, however, may be more than outweighed by an estimated 10 increase (25 boxes) in the yield.previously estimated at 250 field boxes (55 pounds per box) per acre, said Campana. Harvest of the navel orange crop, mostly in east end of the county, especially Redlands and Highland, was interrupted about midway by the January rains. Picking is expected to resume as soon as orchards are dry enough to allow pickers and equipment to come in, said Campana. Navel orange growers foresee no increase in their earlier estimate of a 5 to 10 loss to byproducts because of clear rot caused by the rain, said Campana. Navels sold in 1976 for byproducts brought an average of only 27 cents a don't sweat, relax . . . read icssy Tun Tips Easy Tax Tips is not like the usual drab tax articles you may have read in the past. It is in easy to read language, not a bit stuffy and always on the lighter side. It is directed equally toward men and women and their special income tax problems. The column is written by George W. Smith, C.P.A., and will be appearing daily in the Sun starting Monday, January 23rd. Be sure to read this feature daily to save time and money on your taxes. . . . brighter than ever To subscribe call by area: San Bernardino 869-6666' Redlands 783-2174; Vlctorvllle 245-6437; Barstow 256-6867. thrust of the new venture for Nordskog Industries is "to increase the company's share of the golf cart market on a national basis and expand the use of electric vehicles in industrial and commercial jobs." Nordskog is considered a leader in the design and manufacture of airline galleys and related in-flight food service equipment and airline ground support systems. The Marketeer plant is situated on 11 acres of property at 26701 W. Redlands Blvd. No purchase price was disclosed. carton, compared with $3.28 a carton for fresh packed fruit. However, medium sized navels which had not yet reached their full growth potential have increased considerably in size, he said. As a result, the estimated yield per acre has been revised upward by 5 . As of last December, the estimate was 289 field boxes per acre. The increased yield could more than offset clear rot losses, said Campana. "Grapes, which will not be harvested until next September and October, can only benefit from the rains," he said. "The only problem with rain could occur if it rains in the fall when the berries are mature and the weather is warm. Then they could mildew and rot easily." Some 2,000 acres of west end "dry land" crops oats and barley, used mainly for animal feed are expected to benefit from the rain. Last year growers estimated the cash value of dry crops at $200,000. "Prospects for dry land grain crops, mostly in the Chino area, get better and better with each rain," he said.

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