News-Pilot from San Pedro, California on April 12, 1961 · 13
Get access to this page with a Free Trial

News-Pilot from San Pedro, California · 13

San Pedro, California
Issue Date:
Wednesday, April 12, 1961
Start Free Trial

r-r y" rr"rr" rT " r San Pedro Cal Wed Apr 12 1961 NEWS-PILOT PflgS 13 MARKET-REPORT Investors Paying for Strong Growth By CARL RITTER Copley News Service Investors these days are largely reconciled to paying a heavy premium for strong growth Not only individuals but institutions as well are paying 40 50 or 60 times a companys current annual a share earnings in order to acquire a position in a genuine growth situation This is most apparent in electronics Nevertheless it is more than a little surprising to find a ready market for a utility stock priced at more than 30 times earnings especially with its stock traded only over - the - counter But Public Service Co of New Mexico is quite a firm Stock Rises Eight years ago you could have picked up common stock in Public Service of New Mexico at between $9 and $10 a share Todays market price is above $50 Earnings amounted to 75 cents a common share in 1953 Last year they were 'equivalent to $163 cents a share The dividend has been raised five times in seven years Yet it appears that this utilitys growth is just getting nicely under way For one thing New Mexico only last year launched a major drive to procure new industry for the state The program seems to be off to a good start with Curtiss-Wright Co and Sparton Electronics Corp constructing two new plants in Albuquerque Construction in the city of Demins is up 337 per cent in 1960 over 1959 thanks largely to the construction of an Auburn Rubber Co plant Building Program Last years construction program resulted in $11700034 in net additions to plant and property an increase of 152 per cent over plant and property at the end of 1959 This increase compares favorably with a 149 per cent increase in net income The company is not only in the electric business it supplies water to the state capital Santa Fe and to the town of Las Vegas NM There are more than 11500 water customers Water revenue last year increased 34 per cent over 1959 Precipitation on the water sheds was sufficient to provide an adequate supply throughout the year without operation of supplemental water wells The company says its new sub sidiary will at first engage in exploration and acquisition of coal lands Later the coal company is to develop the coal fields to pro- Weather Today Across Nation By the associated press High Low Pr vide fuel for generating stations if the use of coal becomes more economical than the use of natural gas or other fuels Warners Buys Camelot Rights HOLLYWOOD (AP) Warner Bros has bought movie rights to the Broadway musical Camelot Sellers were Alan Jay Lerner and Frederick Loewe who wrote book lyrics apd music and director Moss Hart The price was not disclosed Warners said it is negotiating with Lerner to do the screenplay and with Loewe to augment the score Radioactive Vial Missing at Lab EL SEGUNDO (AP) A tiny sealed capsule containing a small amount of radioactive strontium -90 is missing from Space Technology Laboratories Officials said the capsule is emitting Beta particles which could cause skin burns and serious radiation damage if taken internally Scientists said the capsule dis- Court Dismisses Scott Petition SAN FRANCISCO (AP) A petition asking the US District Court to review the 1957 murder conviction ofL Ewing Scott 64 of Los Angeles was dismissed Tuesday Scott is serving a life sentence for murdering his wife Evelyn His appeal was based on the fact his wifes body was never found appeared during a routine scientific experiment Twister Injures 4 Near Dallas DALLAS Tex (AP) A tornado flattened a gas station and in-1 jured four persons near the north edge of Dallas late Tuesday Violent winds caused a big canvas tept to collapse during a thunderstorm in Houston but the 200 persons at a revival service inside escaped with scratches and bruises At least three other funnels dipped over other points in central and south Texas The tornado smashed the crossroads service station and trailer home of Aubrey Crawford 46 just outside suburban Richardson Rescuers found Crawford his twister wife Valla and their nephew Kennel h Crpcker 10 months cut and bleeding in the ruins A storm cellar door slammed on the arm of Mrs Park Grissom a neighbor of the Crawfords as she dashed into the shelter UNCLE SAM CALLING All Southern Baptists to Standd By TEMPLE HEIGHTS BAPTIST CHURCH Located at 26th and Meyler The Uncle Sam referred lo Is by uncle SAM WOODY of Louisville Ky SiRned JOHN AltCllIM MelVKK Tastor 44 33 59 32 67 50 142 46 25 46 39 46 28 01 51 39 50 40 49 27 46 32 148 54 39 i 24 6 03 77 44 53 37 55 42 02 48 39 48 74 54 56 44 18 70 51 133 81 77 49 37 11 Albany clear Albuquerque clear Atlanta rain Bismarck clear Boston clear ' Buffalo cloudy Chicago cloudy Cleveland cloudy Denver cloudy Des Moines rain Detroit cloudy Fairbanks clear Fort Worth clear Helena cloudy Indianapolis rain i Kansas City rain Los Angeles cloudy Louisville rain Memphis rain Miami cloudy Milwaukee cloudy Mpls-St Paul cloudy 49 32 18 New Orleans clear 73 60 162 New York clear 52 41 Oklahoma City cloudy 76 40 Omaha rain 40 33 115 Philadelphia coudy 54 35 Phoenix clear 79 49 Pittsburgh cloudy 51 33 Portland Me cloudy 58 37 Portland Ore rain 61 44 34 Rapid City cloudy 56 28 02 Richmond cloudy 62 38 St Louis rain 57 43 45 Salt Lake City cloudy 60 48 S(4n Diego cloudy 70 55 Stan Francisco cloudy 63 50 Seattle rain 52 41 24 Tampa cloudy 83 68 Washington cloudy 56 37 Politico Snubs Dorothy Lamour HARRISBURG Pa (AP) The leader of the Pennsylvania House of Representatives snubbed movie actress Dorothy Lamcor Tuesday Speaker H G Andrews 84 Democrat from Johnstown said h did not feel it wnuld be fitting for the visiting actress to address a session of the House The state Senate also Demo-cratic-controlled was far more cordial It not only welcomed her but permitted her to speak from the rostrum She thanked the senators adding the honor left her almost speechless Macmillan Talks on World Credit OTTAWA (AP) Economic affairs including the idea of a new international credit organization were discussed by British Prime Minister Harold Macmillan Tuesday in a" half-hour meeting with the Canadian Cabinet Prime Minister John Diefen-baker speaking to newsmen following the closed meeting said the British leader gave a gneral review Of the economic situation He did not elaborate on the nature of Macmillans remarks concerning a ney credit organization Tree Top 32-oz Can APPLE JUICE 00 TREWAX $149 Oimrt Ta Good-Aire Aerosol DEODORIZER lif Floral or Spice s & w No 303 Can Med Small Size FROZEN FOODS Fresh Frozen FISH STICKS 24-oz Log-Cabin SYRUP NABISCO 7-oz VANILLA WAFERS REDDI-STARCH Q a or u COMET CLEANSER 14-oz 2 - 29 Chicken of the Sea TUNS No 12 Can 125' -gallon MINUTE MAID J BEECH-NUT STRAINED BABY FOOD Can s & W12-0Z OIlV CHILI SAUCE Id Kitty Salmon (111 Cat Food CanZ f0r Zj Sweetheart A A SOAP neg Size 40? MT TO t r tU- 'yJq GW i-iv-sr rv'T W GIVE JLUE CHIP STAMPS Patter 9 5 m EXTRA FANCY LARGE ASIPAACgy yf V L$vv j a '-J-' fa e Cut Up Frying Long Green CUCUMBERS Fresh Crisp ROMAINE CHICKENS Oscar Mayer WIENERS Lean Fresh ground Beef Boneless TOP SIRL0I Young Sliced REEF LIVER Boneless OPEN DAILY AND SUNDAY 9:00 AM TO 9:00 PJML PRICES APPLY APRIL 13-14-15-16 BEEF STEW ay WE RESERVE THE RIGHT TO LIMIT QUANTITIES I i

Get access to

  • The largest online newspaper archive
  • 20,900+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free