The Miami Herald from Miami, Florida • 183

BUSINESS AND FINANCE 10-M THE MIAMI HERALD Sun Mar 23 1969 i 3 safe sii tore for Lytton i Bermec Profits Show Big Gain In Lease Field BERMEC CORP is a major truck leasing firm The company is negotiating for the acquisition of Frederick Chusid Co Increased profitability of leasing operations a strong cash position and anticipated diversification should enhance future prospects Earnings for the twelve months ended December 1968 were $1 per share compared with five cents per share for the previous twelve months ESE estimates earnings of $125 per share for the next twelve months No dividend is paid By JOE CAPPO Miami Herald-Chicasa Daily News Wire LOS ANGELES Bart Lytton strides over the plush tangerine-colored carpeting and steps out onto the balcony of his 20th-floor penthouse apartment He flicks an ash from his cigar and waves an arm over the scenery spread out in front of him the UCLA campus Los Angeles country club and rolling Beverly Hills have to work I can live an upper-middle class life a pretty nice way to live with a valet a chauffeur a secretary a pretty nice way to live take a couple of trips to Europe a year wear clean shirts and all that eat bread and meat 1 Press Wlrephoto Los Bart Lyttoni eyes ad agency me If I know the person I know somebody who knows him and I can see the top man But there is the feeling that Bart advertising career is a long way off the feeling that he is comfortable and content enjoyed myself in the last few months very very much Because the first time I have been without pressure since I can remember really since I can remember since So he does without working He lectures on urban planning and architecture at colleges referring to himself as a visiting at Stanford University where he holds a once-a-month seminar He still meets with the old movie crowd and is active in civic affairs particularly working with the Los Angeles Museum of Art He recently acquired a Henry Moore sculpture for $15000 He was loaned it to the museum Since he was forced to sell his $500000 home in fashionable Holmby Hills Lytton spends a good deal of time in the small but posn apartment surrounded by many objects He has a little office where a secretary can produce Xerox copies of his press clippings at a notice The walls are filled with pictures of Lytton with people like John Kennedy and Mrs Jacqueline Onassis There also are a dozen or so certificates of merit in cluding the one he displays most proudly: A framed document Of appreciation signed by all Of his former employes at Lyt ton Financial His time is taken up minor details a good numlpef of interviews and the chariT' tablework He recently spent $2960 to have his 1957 Mark 41 Continental rebuilt for his wife Beth The Lyttons have one daughter Timi now Mrs Herbert Stewart And now Lytton sayshe feels pressure from the business community to start work again '4 telling you a story told anybody Joe I do feel it the damndest thing the subtlest thing:" understand -it psychically I know what the phychic mechanisms are that go to work but tell you this no man is an island unto himself true fact is that so many people ask me what going to do next and so many people have faith that going to conquer worlds that' I begin to get a feeling that I owe it to them I felt like hell I owe the world a living I have to go back now and make another living had my bumps worked my tail off enough So Bart Lytton fights and becomes defensive because he is a instead of a knew exactly what he was worth Today including his stock holding in LFC and real estate his wealth approaches $1 million Even if his a al-lowed Lytton said he go back into the savings and loan business There is the of the in every business he said and business will never again create a Lately Lytton has talked freely about going into the advertising business but one help feeling that he would rather talk about it than go into it But he does discuss it at length about how he has three choices: buy a small West Coast agency star: his own agency or estah'ish an office for a big agency that does not have a West Coast office advantage of starting an agency is that it is all he said concept I have is to try to have it more than an advertising agency to make it a technological advisory service for total He is considering advertising because he had superb track of advertising in the financial world and also because he can the big can open doors no problem for me to open doors There are very few doors in the United States and in most places in the world but certainly in the US there are very tew doors I have opened to Slocks of Interest for Potential Gain MISSOURI PACIFIC RAILROAD CO MOP oper- -ates in the mid western and southwestern states Control of Chicago Eastern Illinois afforded direct access into Chicago The recent 3 -10 rate increase 'expansion through mergers and industrial growth in the area served should favor the long term outlook Earnings for the twelve months ended December 1968 were $787 per share versus $1253 per share for -the previous twelve months ESE estimates earnings 'of $1200 per share for the next twelve months An annual dividend of $500 per share is paid PETROLANE GAS SERVICE INC is a major distributor of liquified petroleum gas and operates 30 supermarkets in a rapidly expanding area of Southern California Lower fuel costs and broadened LP gas operations indicate favorable long-term prospects Earnings for the twelve months ended December 1968 were $288 per share versus $244 per share for the previous twelve months ESE estimates earnings of $3 per share for the next twelve months An annual dividend of 80 cents per share is paid There is a look of faded majesty in Bart Lytton as he sits easily in a lounge chair in his living room His white hair is plentiful and the barber has done a fine job of giving it a casual sculptured look He resembles an aging movie star who has lost the title role in an epic too poised to cry too hurt to ignore it For nearly 10 years his name was in lights as chief executive officer of an adventure drama called Lytton Financial Corp He was the star Two months ago name was taken off the mar- quee The company name was changed quite unsubtly to LFC Financial Corp and the star was plucked from Bart door It was a symbolic action the crowning blow to a corporate crisis that forced Lytton in April to bow out of the leadership of the company he had founded motion and advertising work for a mortgage company studied the mortgage business and found out that It was being done very archaically All little mortgages companies out here then in Eleven months later Lytton left the company and with borrowed capital of $351000 he started the predecessor of Lytton Financial Corp have to work I live the way I used to live I used to spend several hundred thousand dollars a year I can now spend $75-000 a year maybe even a little bit more and still not pinch into capital But you can live pretty nicely You and I know that both having lived for a lot In four years the company had 11 offices and was the biggest mortgage brokerage house on the West Coast An important element was Lytton Savings and Loan Association which grew from nothing to fifth largest in the nation in 10 years In 1959 the institution had resources of $7207 million By 1966 that had grown to $7296 million Lytton bought several other savings and loan associations in the Los Angeles area consolidated operations and continued growing He advertised at a record rate with his picture in newspaper ads and his voice on television commercials But in early 1968 the Lytton empire started to crumble The company meet a $16 million note due April 25 and a $800000 sinking fund installment on May 1 The crisis followed three successive years in which the company was not able to turn a profit Creditors moved in for reorganization and Lytton was the first to go I Respecting his potential they agreed to keep him on as a for seven years at $50000 a year He agreed not to enter the savings and loan busisess in California during that time The roller coaster ride was over Lytton stock which had reached a peak of $4225 a share in 1953 plunged to $550 a share in 1968 At the height of his financial power personal wealth was estimated to be in the $30 million range although he admits he never You should! He's DONALD A KAPLAN In 1968 he provided more than two million dollars worth of Life insurance protection for the families and businesses of this area And he qualified for The Travelers highest award "Honor for the fourth consecutive year and the coveted "Order of the Tower" for the tenth time An outstanding professional achievement! An outstanding man with proven ability to solve your insurance and financial problems Why don't you get to know Donald A Kaplan soon? You'll find him at Flagler Financial Planning Inc 129 NE 79th St Miami THE TRAVELERS I INSURANCE COMPANIES 1000 Brickell Avenue Miami Florida A T- 1 TISHMAN REALTY CONSTRUCTION CO INC constructs various types of buildings often selling the structures to institutions and having them leased back under long-term leases Rising profits reflecting expanded construction suggest a continuing uptrend over the long term Earnings for the twelve months ended December 1968 were $147 per share versus 43 cents per share for the previous twelve months ESE estimates earnings of $150 per share for the next twelve months An annual dividend of 36 cents per share is paid YOUNGSTOWN STEEL DOOR CO The bulk of sales are derived from railroad products Expected growth in volume and demand for specialized cars should widen margins Earnings for the twelve months ended December 1968 were $122 per share compared with $150 per share for the previous twelve months ESE estimates earnings of $150 per share for the next twelve months An annual dividend of $120 per share is paid Your broker will be pleased to furnish you with additional information regarding the above securities Remember The Miami Herald never recommends the purchase of specific stocks including those listed in this Sunday feature prepared by Electronic Stock Evaluator Corp The feature is presented solely as a matter of interest in light of the growing public attention paid to the stock market in general and to security analysis in particular The Editors Bart Lytton was bom Oct 4 1912 in New Castle Pa near the Ohio border His father a lawyer died when Bart was 3-years-old and his mother subsequently married a physician Bart attended the University of Virginia and almost defensively admits he have to work his way through college I get anything from them after he said pointing the cigar Lytton did some magazine writing and then switched to radio where he produced scripts for several popular shows of the 1930s and 1940s Gangbusters Date with Judy Skyblazers and others When radio started drying up in the Lytton took on screenwriting He wrote five screen plays none of them above the mediocre class 1 was prouder of some of the mortgages I he said Around 1947 Lytton said he dry I developed a block I He underwent psychoanalysis moved to Pennsylvania I then back to Hollywood I where he started doing pro- CONDOMINIUM APARTMENTS bour is instead a place of charm of delight a place to live free from the crowd 2 and 3 bedrooms Central air conditioning and beating Ample guest parking Poo! and patio Guest boat docks Nylon carpeting Residence Type A Four centuries ago Cabot's fleet discovered Key Biscayne Today you can rediscover this palm dotted isle still virtually unspoiled yet just 14 minutes from downtown Discover also VillaHarbour 17 luxury condominium units in keeping with the secluded tropical atmosphere Lushly landscaped long low townhouses spread out in a two story island inspired design with each unit looking out from balcony or windows on Biscayne Bay and the glittering city beyond Island privacy is theme starting with gatehouse and wall and culminating in private entrance-ways to each unit No busy lobby no high rise hotel VillaHar Adjacent Yacht Club facilities and two of finest parks await your leisure Island shopping churches schools salons and unique dining spots fit your every need Escape from concrete civilization discover the island beauty of VillaHarbour Residency TypeB VillaHarbour 166 Harbor Drive Key Biscayne $47000 to $70000 Kitchens by GENERAL (HH ELECTRIC Office Space Available in Ideal location SEABOARD LIFE MEDICAL BUILDING at Venetian Causeway and Bayshore Drive Applications for condominium ownership now considered QUALITY BUILT BY BABCOCK CO BUILDERS INC 4667 Ponce de Leon Blvd Coral Gables Florida Tel: 361-2916 Rental space from 400 square feet to entire floor to suit your needs is now available in Seaboard Life Medical Building within walking distance' of Jordan Marsh Jefferson Sears Lindsey Hopkins and The Miami Herald Convenient to bus stops Inquire now for full particulars II 0 Householder Jr Managing Director 350-2777 or Harry Greene 350-2404 Residence Type The Seal of Quality i.