The Miami Herald from Miami, Florida • 53

Thursday Jan 31 1980 THE MIAMI HERALD eoo iKM i Six-Month Money Market Certificate rate this week: Paid on a 0 Simple Interest Calculation Dade Rental Sales Set Record in 1979 The dollar volume of rental apartment building sales in 1979 in Dade County reached a record $7088 million a 39 per cent jump over figure of $5112 million Real estate analyst Charles Kimball said the jump in demand for apartment buildings was due to the increasing popularity of condo conversions The value of rental buildings appreciated at a rate just under 7 per cent during 1979 'Among the major deals completed during the fourth quarter were the first sections of the Spanish Trace for $6618900 and Cypress Village for $7937000 Both projects were acquired by Atlanta investor Ronald Terwilliger Two large high rises were acquired by the Daon a Canadian controlled firm the Plaza 800 sold for 14625000 and the Belle Isle for 13350000 American Invsco of Chicago bought the Executive House in Miami Beach for $7338250 while the Mona Lisa on Collins Avenue went for $5810000 International Towers in Miami was sold to a Canadian group for $5 million This rate is effective from January 31 through February 6 The minimum deposit is $10000 No financial institution insured by an agency of the United States Government is authorized to pay a rate of return in excess of the interest rate being paid by Bistayne Federal Biscoyne Federal also offers Passbook Savings at S50 per year interest compounded daily minimum deposit $50 and six kinds of Certificate Accounts paying from to 800 including the new 30 month (2Vi-year) Treasury Certificate' with an interest rate 'j below average yield of 2'2-year US Treasury Securities These Certificate Accounts have interest compounded daily minimum deposit $500 Your savings insured up to 40000 by an agency of the United States Government A substantial interest penalty is required for early withdrawal THE HIGHEST INTEREST RATES THE IPILQDS FD2HI WHEN YOU OPEN A NEW ACCOUNT OF $500 $1000 $5000 OR MORE All gifts at Biscayne Federal are given absolutely free you pay nothingnone are for sale! MOR 1 ca Mirro Electric Pizza Baker Regal Electric Dnp Coffee Maker Luxurious Tote Ba i with 6 Zippered Pockets Spartus Electric Digital Alarm Clock Flight Bag Norelco Double Hamburger Grill Digital Watch West Bend Automatic Party Pefk Superlectric Radiant Portable Heater Presto Wee Bakerie Oven Osrow Steamstress 1 1 Steam Iron Lux Electric Pendulum Clock Robeson by Van Wyck Mini-Deep Fryer OTHER REAL ESTATE: Lennar Corp delivered 4653 housing units in 1979 compared with 3668 in 1978 Lennar broke its yearly record for backlog of sales deposits on Nov 30 with 2935 compared with 2820 at the end of fiscal 1978 Lennar is largest housing producer and is also active in Arizona and the Midwest Hollywood Inc reported more than $20 million in real estate closings in 1979 up from $12 million in 1978 The firm is developing Paseo Verde Lakemoor and the Greens of Emerald Hills in Broward Continental Services Corp has been named management firm for the Sheraton Beach Resort Hotel in Miami Beach BUSINESS NOTES: The JI Kislak Mortgage Corp of Miami reported that its servicing portfolio of home mortgages increased 131 per cent during 1979 to a record $1325 billion Roger Properties of Jacksonville raised its quarterly dividend to shareholders and announced plans for a public stock offering of about one million new shares to finance an expansion program The dividend is being raised to 30 cents a share from 27 12 payable April 21 to stockholders of record April 1 Poe and Associates of Tampa voted a six-for-five stock split Industrial America Corp of Jacksonville said it has agreed to sell its Vancouver Wash foundry to a Portland firm Lt Gov Wayne Mixson and Agriculture Commissioner Doyle Conner will lead a delegation of 35 Florida business and agri- cultural leaders on a trade mission to Quito and Guayaquill Ecuador Feb 10-16 Vanleigh Furniture Showrooms plans to move its corporate headquarters to Miami from New York National Life Of Florida holding company for the Voyager Insurance Companies declared a regular quarterly dividend of 8 cents a share and a 6 per cent stock dividend to stockholders of record March 19 Florida Power Light filed with the Securities and Exchange Commission to sell $125 million of first mortgage bonds Wometco Enterprises said it has increased its long-term debt with the Prudential Insurance Co from $55 million to $80 million Overall interest charges rose from 85 per cent to 915 per cent Sunbeam Mantel Clock with Chime Traveling Case Osrow Electric Crepe Maker Melard Pulsating Shower Head Robeson by Van Wyck Electric Drinkmmer Rolls RoycO Radio by Justen Btsseli SweepEasy Sweeper Kent Silversmiths Covered Casserole Northern Electric Makeup Mirror Family Gard Smoke Detector Northern Electric 1200 Watt Dryer Deluxe Backgammon Set si 8-Piece Pyrexware Set by Corning Rummy Game In Attache Case 7 Piece Cookware Copper Clad Bottoms Sptkn Portable AM FM ACDC Radio Superior Electric 8" Fan Robeson by Van Wyck Slow Cooker Steam Iron American Fantastik Hair Dryer Sunbeam Electric Pendulum Clock Alum-l-tite Folding Table Robeson by Van Wyck Deep Fat Fryer Kent Silversmiths Cake Server Cosco Step Stool MOR Chopping Block With All-Purpose Knife Presto Hot Dogger Regent 10 Piece Cutlery Set Presto Hamburger Cooker Fagle Lighted Magnifying Glass Presto Toaster-Broiler Corning Ware 5 Piece Set Glass Salad Bowl Sat 2-Trer Serving Cart Hot or Cdd Thermo Server Funk WagnaHs Dictionary Justen Electric Curling Iron Beacon Bedroom Blanket Totebag Many other beautiful and exciting gifts to choose from when you open a new account of S500 51000 $5000 or more All gifts subject to availability Only one gift to a family Sorry we do not mail gifts We make no charge to transfer your savings from anywhere in the United States to Biscayne Federal biscayne federal d'fALiAv nnrl 21 OFFICES IN FLORIDA TO SERVE YOU wings and ban association McCLUNG KLAYF PEOPLE IN BUSINESS: Bernard Klayf a former executive vice president of Burdines and now executive vice president of Federated Department Stores Burdines parent company has been elected to the Federated board of directors David Wood a partner in the law firm of McDermott Will Emery has been elected to the board of Bessemer Trust Co of Florida Bessemer Trust also named Michael Page as senior vice president David McClung has been named vice president for finance and administration of Cordis Dow Corp He will also serve as treasurer Michael Guido has been named group director of restaurant operations research and development for Burger King Corp Two new directors and three promotions have been announced by First Bank and Trust of Palm Beach County: Frank Augsbury and William McRobb were named directors Jeffrey Keating was promoted to senior vice president and senior trust investment officer Wane Stewart to vice president and trust officer and Richard Raybuck was named trust officer Robert Ehrling has been named executive vice president of General Development Corp Duane Buck has been named vice president for manufacturing of Food Fair Inc Norman Coleman has been named executive vice president of First National Bank of Broward County Edgar Price chairman of The Price Co has been named to the board of directors of Cypress Gardens Michael Kay has been named president of Omni international Hotels Louis Fein has been named president of United Testing Service a subsidiary of the South Mi mi Speech Clinic Elliot Kostick has been elected vici president for internal auditing of the finance division of American Savings and Loan Association Albert Dege of the Ryder System Inc elected president of the Risk and Insurance Management Florida chapter Larry Wright has been named vice president of commercial lending for Hammond Mortgage Boca Raton office Herbert Bacher has been named southern regional respresentative of Sterling National Bank Trust Co in Lake Worth Helen Murphy has been named vice president of operations for Kahn Carlin Insurance George Bernard Shaw has been named fleet manager of Don Allen Chevrolet Melvin Riedel has been named executive vice president of Central Bancorp William Fisher has been named vice president and assistant manager of First National Bank of Broward Pompano Beach banking center Larry Boiar and James Keller have been named regional vice presidents of American Bankers Insurance mobile home division Gary Marcus has been named senior vice president and associate creative director of Caravetta Allen Kimbrough A CAPITAL STOCK ASSOCIATION Listed and trading on the New York Stock Exchange Assets in excess of 1 billion dollars Albert Pallot President MIAMI MAIN OFFICE: 1776 Biscayne Blvd 377-4051 OMNI AREA: 1470 Biscayne Boulevard 358-5866 CIVIC CENTER: 1099 14th St 324-1061 CORAL WAY: 1600 Coral Way 856-2727 MIDWAY MALL: 7823 Flagler St 261-1531 NORTHSIDE: 27th Ave at 79th St 691-5101 (In The Northside Shopping Center) CORAL GABLES 471 Biltmore Way 446-8711 MIAMI SHORES 9033 Biscayne Boulevard 751-2746 (In the Winn Dixie Shopping Center) POMPANO BEACH 20 Oceanside Shopping Center 942-9550 (Corner A1 A Atlantic Blvd LAUDERDALE-BY-THE-SEA 4335 Ocean Drive (A1 A) 776-6601 Parking and entrance also from Bougainvillia Drive 4348 Ocean Drive (A1A) 771-5600 PALM BEACH 201 Worth Avenue 659-5252 311 Royal Poinciana Plaza 659-6777 SEWALL POINT (STUART) 74 Ocean Blvd (A1A) 283-4924 (In The Harbour Bay Plaza at the entrance ot Hutchinson Island) MIAMI BEACH 401 Arthur Godfrey Rd 538-9022 7451 Collins Avenue 868-4198 160 Lincoln Road 532-4574 (Corner Lincoln Rd and Collins Ave SURFSIDE 9525 Harding Ave 664-3000 HOLLYWOOD 3800 Ocean Drive 456-5360 (In the Hallmark Building) TAMARAC 6848 University Dr 722-8770 (In the McNab Shopping Plaza) CLEARWATER 401 Cleveland St 461-7600 (Corner Cleveland St Osceola Ave.