The Kansas City Times from Kansas City, Missouri • 26

THE KANSAS CITY TIMES WEDNESDAY SEPTEMBER 19 1956 Operating Control of Best To Arkansas Motor Freight SECRETARY MITCHELL AND GEORGE DIVIDED ON BOOM On th el inane ial Ixont a strong program of racial migration throughout the ranks of organized labor remarks supported a report by David McDonald A president urging a co-operative integration plan involving management and labor Mitchell got his biggest hand when he said he was for revision of the Taft-Hartley act The labor secretary also brought a greeting to the convention irom-President Eisenhower Earlier the steelworker-1 adopted a policy statement evitf 'cizing the steel industry for price increases "not justified by increased production COCOA FUTURES New York Sept 18 Cocoa tvtures Closer! 17 to 21 lewpr sales 168 cor tracts September 25 03: DecembFr 25 49: March -9 00 Max 2633: September 26 98 Scot accra 27 in Dallas Fort Worth Houston and San Antonio St Louis if Credit for Prosperity Is Tak- STOCKS IN THE SPOTLIGHT New York Sept 18 The 15 most active stocks today Sales Close Chg IT Steel 37300' 68 Am Tel Tel 35400 173 Chrysler 30900 73 1 Gen Motors 25600 47 Stand Oil NJ 24200 55 Boeing Airp 21100 55 Nat Container 19300 35 4- Unit Dye Ch 18500 11 Royal Dutch 16900 108 Martin 16400 39 Stand Oil Cal 16100 4 Texas Co 15700 56 Gen Electric 15000 59 Ccoper Rfss 14 800 45 Atmear Co 14500 17' Chicago Indianapolis Akron Cleveland Columbus Daytonj and Toledo Total equipment will be 1072 tractors trailers and city trucks A will employ 1020 persons and have an annual pay roll of $525000000 It is expeetpd the combined companies will have a total annual revenue of 101 2 million dollars in the next 12 months 6:30 TONIGHT Fort smith ark sept A Young jr president of Arkansas Motor Freight Lines Inc announced today the acquisition of management-control of Best Motor Freight Inc authority granted by the Interstate Commerce commission A assumed complete operating control yesterday Arkansas Motor Freight Lines is the largest motor common carrier in Arkansas with 17 terminals within the state Additional terminals are in St Louis and Kansas City Memphis Shreveport and Texarkana Company headquarters are here Best has terminals By Ben Schifman The Financial Editor) APPROACH of the season of heaviest credit demands finds the liquidity of banks in the metropolitan areas of the Kansas City trade territory at the lowest level in many years For the last two years banks have been disposing of their short-term government securities as limited expansion of reserves in the face of a growing loan demand forced commercial banks to sell 91-day bills and certificates DDirrc The Federal Reserve bank reports that hill and eertificate BOLSTER PRICES portfolios at some of its members are practically nonexistent' The holdings vary by cities and the differences among individual Firt Such Move Since Fisen- AN EGG PURCHASE PLAN GOVERNMENT TO BUY IN EFFORT TO Los Angeles Sept James Mitchell secretary of labor and George Meany president of the AFL-CIO differed today on whether the Republican administration is responsible for current prosperity Mitchell told the United Steel- hower Took Office to Institutions and School Lunch Frogram Sales management will be under the dirertion of Carroll workers of America convention that the American workingman and woman has done better in the last three and a half years than ever before" "I wouldn't say that was Meany said the Republicans are responsible for IKE HEED TO SMALL BUSINESS banks aie partly obscured by city-wide totals but the ratio of certificates and bills to total loans at the seven largest cities in the tenth Federal Reserve district vary from a high of 15 per cent in Wichita to a low of 3 per cent in Omaha Denver banks had a combined ratio of 16 per cent while Kan Wastliiwlnn Sept IS 'AP'- BENSON TEL1S OF PROGRESS Work on First ofttie Model eS lT this prosperity then they also White House Talks Scheduled for havetQ tFake qhe blame for in jvears of misery caused by the 18 AP 'ast previous Republican admin- Meany said he meant the conference years nf l0 1939 consultants in his speech to the 2500 steel- Watershed and Great Plains Programs Are Cited Lincoln Neb Sept 18 (AP) Secretary Benson said today the Eisenhower administration has set up a program to protect and improve small watersheds alter there had been 20 years "of much talk and little action" on the problem "This is undeniably one of the great conservation developments hower administration of our he told the third national watershed congress September 2 Washington Sept President Eisenhower called a White House of small business for September 27 The move apparently aimed at countering political campaign that small businessmen squeezed by measures taken bv TO VOTE ON was Democratic charges are being tight credit the Eisen- to Begin Tomorrow South Bend Ind Sept 18 AP) Studehaker Packard corporation said today it will start production of 1957 Studehaker sedans station wagons and Hawk sports cars Thursday Harold Churchill president said truck production will be resumed next week The first 3200 employees were called back to work last week as body plant and feeder lines started operations Churchill said about 7500 hourly workers will be on the iob "when the company reaches scheduled The 1957 Studehaker models will be announced publicly in late October worker delegates Meany refrained from making political endorsements but said: "We are in politics whether we like it or not" He urged labor to get out the vote and cast ballots for candidates friendly to labor Secretary Mitchell said that employment is at an all-time ihigh of nearly 67 million unemployment is down to slightly an effort to bolster farm prices of the poultry product This is the first time the department has offered to buy eggs since the Eisenhower administration took office Heretofore Secretary Benson has opposed such purchases contending they tend to interfere with desirable producer adjustments in production Week before last he announced that a purchase program was being developed The department asked that offers to sell grade No 1 medium-size eggs in ear lots be submitted by September 25 for acceptance not later than September 28 The department did not say how many it plans to purchase The eggs will be given to the school lunch program and to public welfare institutions Producer prices of eggs now 1 hicajo ept lsiAP The of are averaging about 30 ner cent o-i representative issues on the Mid auoui ou per CPnt price: DISNEYLAND MERGER New York Sept 18 (AP)- Benson said that as a result jStockholders of Robert Gair more than 3 per cent and wages are at a new high But Meany disagreed with of this enacted by Congress in 1954 the depart- company manufacturer of paperboard and paper products Mitchell's statement that pur-vote I chiasing power has risen sharply corn- In his speech the union ment has authorized aid in improving 31 small watershed projects in various parts of the country and has about 200 more pany George Dyke president in the planning stage announced today Benson also said the Republi- will meet here October 26 to on the proposed merger of Gair with Continental Can west Stock exchange Actual Sales- Allied LabSOa 400 Net Channel A Durr-fectly wonderful new show! It's Walt's delightful cartoon salute to "The Great Cat WALT O' rY eOOUCTlOf KM6C-TV ABC TELEVISION NETWORK chieftain said there were still "millions ill fed and ill housed who must be the concern of all organized Meany added that "labor is sanios jo 4 ex-aoex closed at 61 25 Costlnrt plate anart T-Tp lircrpH a and freight offei'ngs include Saitos Bo a ClaS a pari rl6 ur6eu a boas 3SD a ssso-moo and 57 so- future AFL-CIO program dedi- 5800 futures Closed o4 to 70 Over 4 sales 55 contracts September 58-83: De CcltCQ TO maKing dPTOOCracy cember 5760: March o572: May 5460 wnrlc Vioftpr tVisn aver July 53 50: September 5225 futures vvorK Deuer Tnan 11 er closed 13 to 44 lower sales 48 contracts worked before September 8342: December 7385 March 6830 Max 6715 This he sain should include sas City' Oklahoma City and Tulsa were in the 5 to 6 per cent range Down 60 Per Cent During the last two years banks in the Kansas City Federal Reserve district have reduced their holdings of bills and certificates by 233 million dollars or about 60 per cent At the start of this month the banks held only 142 million dollars of the two securities and about 50 million of the total comprised the newly issued tax anticipation certificates paid for by credits to Treasury tax and loan ac counts The tax certificates will he eliminated shortly and probably will produce a corresponding reduction in short-term securities Allowing for the reduction district reporting banks had less than 100 million of bills and cer tificates Even though these issues are included the ratio of bill and certificate holdings to total loans is only 8 per cent compared with 27 per cent two years ago On a national basis the current ratio is 3 per cent compared with 16 per cent two years ago Room for Improvement THE management of Kansas J- City Public Service com-panv is telling and retelling the same story to its shareholders namely that business is not get ting any better that stringent economies have to be practiced and that the outlook is uncertain An interim report covering the first half of 1956 showed that revenues decreased S161339 despite a fare adjustment Net profits however were up 844523 from a year ago The "original cost" rate base value of the company is well over 19 million dollars and the transit system could not be replaced for far more than that figure Fowell Groner president said Yet the actual return during the first half of 1S56 was equivalent to an annual return on such a rate-base of about 12 per cent he said The 6-month net was 8133226 can administration has "substituted action for many years of by launching a "coordinated concentrated attack on the problems of the great an area affected by prolonged drought Chicago Cp 1) 100 Cl (1 20a 400 below a year ago largely reflecting a substantial increase in production Farm prices for No 1 medium-size eggs in Iowa were said to average 24J2 cents a dozen now compared with about oSG cents a year ago The last time the department bought eggs was in the summer of 1952 when 226000 cases were purchased for the school lunch East Air Ltlb) Gen Box (201 100 Helleni Br 2 100 Ind St (120) 400 2 1 100 41 7 2 600 Peab Coal Peab (lu) Quax Oat 180 Fichman Br 2t Washington Sept 18 (AP) The power commission today postponed from October 1 to October 30 the resumption here of a hearing in an investigation of the natural gas rates of Phillips company Bart- Stock exchange CHICAGO CASH LARD Chicago Sept 1S(AP) Cash lard was cu 1162 cents a pound today loose 1175 lesvilie CIKla Petroleum AMERICAN STOCK EXCHANGE Yesterday closing prices of leading stocks and bonds on the American Stock exchange (formerly the curb exchange) are here shown Net I Net Net Close chke Close ohee Close cher Aero Sup 2 Dynam Am 40) 6 Pat Pet Ltd 17 Air Ind (60) 7 East (la) Pan Israel 1 Ajax Pet 1 Elder Min Pantep Oil (fl 4 Ala Gas (1) 367 El Bd tl58e) Prkbsr Aet 4tt Alleg Cp wt Equity Co C15e) 3 Phil Dis 6' Allied Art (15e) 5 Eureka Co 1 A PTast JS (OS) Allied Con (SO) li'gfSSPSKS Pus Sd 20h 1 Pavm Cone HSO 434 i 27 Am Murac 10 Frlh Sterl Ark Oil (1) 33V- against 888703 in the like 1955 Ark oas 1 sort-cai" a Ford Ltd 07e 315- SmA' taxes were 1 75171 iL-1 'Giant vi (30e Armsi tvUD A li Id 4 ci if-n Aid i 1 fin i II1 RusspII Since Aro Equip fl) 20 2 Goldfield Con r- nermis Kf- XJ1 ViV Oft A (6e)172 1 Sappn period permis- Atia riy tise) 11 Rio Gr i 10 pi 3 Oil i 26) 161 30 pt 37 Arro 40a 357 IVa Pet 2 A 3 Sayre 20b' 4 Scurry Rair 3ii JGt Sw Grass Hall Damp i02g IvHmd Or i toai A Servomrch 40L 10 I Harnisch (1 60j 35 1 Sherw Wm 4Wa116li 'Hastings C15d' Siboney Carib 2 Herla Min 32e 8 Signal Oil A 060a) period No income accrued for the retirements and other sible deductions will offset any income taxes Retires Property In the 12-month period ended June 30 the value of operating properties (less depreciation) decreased 81263297 due mainly to retirement or replacement of equipment no longer in use The funded debt (equipment notes) increased 3377112 reflecting equipment purchases being financed on an installment payment basis Reserves for injuries and damages decreased S329943 as result of an Sel Bald Rub da) 17 Bald sec 3 Banff Oil Barium Sll Baste Inc (lb) Bellan Op (lt 4 Braz Trac i fie) 7 Br Arn Oil (1) 47 Brit Pet t27e IS7 Brown nistSObi Bvrd Oil as Super 1 OalgiEd (10 30 Cal East Av (t) Cal El Pw (76) 14 Calv 0G Can So Pet 5' I'dn All Oil 7 Cdn Petrol of canso Oil Prod 0 Casro Pd (tie) 6 Castle AM 120 21 Catalin (302) 7 Ceneo Cp ilOel 3 Cen Explor charter Oil 2' Chief mbs Con Electro 16L- Holl Gold (24) Simca (107e) 14 Holy Corp 3 Singer Mf (2 Humble 0(2 40 115 Sonotone (28) 5s- Imp Chem iOSe) 5li A So Penn Oil (2a) Imp Oil il20 60f-i- 4 30 CalPet Ins Am b- Std OilTCy (2a Resist (20) Starred Cp (e) Israel Am Oil 3 Stylon Cp Jupiter Oils 21- Sterl Prec 3-i Kaiser Ind Sup Tool (40) Kings Li (901 16 Talon A (e) Kropp (10e) 3 Teehnteo (e A Kroy Oils 2 'Ttiioko! Ch 32 5 Lake Sh 4 Tlln Hoof da 14 i Lear t30e 7 Oil 7-- La Iand 120 SS Trans Cuba Oil A McDon Alrc fbi 40 Trt Cont wt 11 i Menasco e) 5 Unit Shoe i2'-ai 43 Merrill Pei IT its Foil (43eL 7 Mo Ph Svt60b) 14 siorp 4 Molybden ns i 24 Utah Id Sug 4 A qMuntz TV' 1 Waltham Wat i Musk Ring 0) Webb a- Knapp (40) Mat Bell Hl'iS 4j -2 -stls Wilrich Bccelerated program for clear- con c-as ut 9o is7 Nat pet wood in pet 1 8 Cent Air 2 Net Research Wright (lzS I7 ance of claims and lawsuits tran 1 anst oils 1 GMC shown it right i Model Ft 50 fitted with 1 6-foot van powered with i 140 hp six-cylinder engine has cver-size ixle? rated at 450c lbs front icoo lbs rear designed for 18000 GVW truck work The smaller truck at left is popular s-ten pickup with 150 hp six-cylinder power plant -u 94 7 1 So Cal Gas '70 os ii So County 3s 71 90 Devon Oils Nord Ketay 8 mbni ar the same aa jDrarer (160i 24 1 No Cdn Oils GJJ for the New York 8trck ex- COm DuMont 3f) 5 4- ViiOgden Cp 19 rhenpre jc1 d5w' 92sJ24 Mna co ci andjJ itl- Preferred stock was reduced 2 m0'1 S700002 through purchases retirements The plan for ultimate piete conversion "from rail to is steadily materializing and should not only aid in stabilizing patronage but produce important economies Groner said BOND QUOTATIONS Yesterday's closing bond prices on the New York exchange as reported by the Associated Press: Corporate Issues Gen Mot Acc 3 99 Tex corp 3s dThird Stock 96 Gen Mot Cp 3 96 Av 5 fiQL 5s 38 Foreign Bonds 3s 95 qHud A rtg 5s 48 130 '7fi Austral n(ij(rj ous ix hi Banner Katz Year 'ALKS of Katz Drug company j'ps 3s 2s 2S 43 os Kil Ci 4 64 97 3l64 Austral 3 100 89 4 105- BrZ) oj 88 Mo Kan 5s 6f 5 Colom 3s '70 59 S5 Mo Pac 5s 2045 57 pcnmark 4 -fi2 99 R1 Mo Par 4 -Vs 2020 d6 Germarx '69 96U 98 Mo Pac 4s 2030 62 German' Dec 69 the 50-million-dollar mark earnings will increase again Why settle for less than Blue Chip performance? as thpv hBP for P'PFV one of the Mo Pac 4s '90 817 Greek ts '64 16 1 1 103 4 Mo Par 44s 2005 804 Greek 6s '68 154 previous five years Vtl Kefm 2 '66 92 Mo Pac 4 'IS too Norway 4s '65 99 pre Such a forecast appears in the Can Pac 4s pPrp 1P4 American a publica taon of the American Stock exchange and is made by Morris Shlensky executive vice-president of the drug chain Cen Ga 4s '95 Cen RRNJ 3s Chi 4 HI inn '97f Chi A NW 4 Vs Cities Sve 3s Coraw Ed 3s '77 Con Edis 2s '72 He! Hud 4s 69 57 91 56l 907 91 68' 97 Mor Es 2000 61 2 Orient 6s '6-lst 100 NY Cen 5s '2013 61 Orient 54s '5Sf 167 NY Cen 44s 2013 73 Rio do 7s 66st 46 NY NHH 4ft 20221 Sift Uru cv 4s 96 iNTOW 4s 3 Yokohama 6s '71st 99 Nor Pac 4V 2047 95 In bankruptcy or re- Pen RF 4 4 '65 101 ceivership or being reorgan Phil El 2fs 67 9 1 jzed under the Bankrupts Stl RF -s 2022f 88 Art or Securities assumed b' StL SK 4s '97 91 such companies st Stamped 161 Shell Un 2s 87 Certificates Next da' 71 So Par 4 1 -s 69 98 delivery Dealt In flat 99 Std Inn 3s 135 Matured bonds negotiability 107" Std NJ 2s 86 impaired by maturit' Entitled "People Like loii82 the article deals with the com- cininamV-s': 75 attracts admiring attention With that distinctive boulevard styling a smart advertisemcnt-on-wheels for anv business! One for your kind of truck-work? Our truck specialists will help you select just the Blue Chip model that will do your job most profitably And our truck servicing experts always stand ready to help you keep it a Blue Chip top-profit-maker Drop in and get acquainted! Optional at extra cost on he cashes in on the big maintenance savings And every trip hr can carry a bigger load For GMC chassis are rugged GMC axles are extra-capacity So he hauls more and hauls it comfortably GMC cabs are man-size and deep-cushioned Recirculating ballhearing steering makes handling free and easy Close-quarters a cinch with Safetv Power Steering And at every stop a Biue Chip GMC IT take a new GMC owner long to spot the difference especially if just switched from another make truck Take the way every Blue Chip GMC is An ultra-modern power plant gives him flashing response sparkling road-pace and record fuel economy Hvdra-MaticMs another eye-opener Right away he appreciates its time and effort saving in traffic And later pany's operations and its flair for doing things on a big scale "One big help is that Katz does rot just carry thousands of items it lets the people in the fivp states it operates in know about the article says "Nobody knows in which direction or how big Katz may grow but rhanres are that a Katz store uill nev er be built quietly When Katz is there everybody will know Southern Kansas City Southern Railway company and wholly-owned subsidiary Louisiana Arkansas railway reported operating revenues for the first eight months of 1956 were S50o0S803 compared with $48188598 a year earlier Net railway operating income was $9107230 down from 89368-372 a year before August's rev enues were $6731854 against 86-409529 Operating net was $1-277493 against $1218907 NEW YORK COTTON New York Sept 18 (AP) Colton futures closed down 13 to up 4 points Spot was 5 points higher at 3445 cents The range of futures Xet Opn High Low Clos Chg 3375 33 9 3375 33 9 3 3372 3379 3372 3379 4- 2 4 2 3370 3373 3360 336 Jul 3325 3329 33 23 33 2 See vj too for Tuple-Checked used trucks SID PROBLEM Sid Caesar has written an article titled Psychoanalysis Did For Me" for the new issue of LOOK MAGAZINE It is unquestionably the most intimate magazine article ever written by an entertainment figure on his own personal fears and motivations Get LOOK at your nearest newsstand WESTFALL GMC TRUCK INC 2534-48 McGEE TRAFFICWAY KANSAS CITY MO October 3257 3260 3252 3255 December 32 54 3257 3249 32 51 March 32 50 3250 3242 3242 LEAVENWORTH KANSAS Sergt 6re" Peftiiae Inc 736 Delaware 8 EXCELSIOR SPRINGS MISSOURI Clay County Meter Ine Highway 10 and 69 INDEPENDENCE MISSOURI Galen Raver Motar Inc 317 Weit Maple OLATHE KANSAS Th Olathe Mater Ge Inc Santa and Cherry OVERLAND PARK KANSAS Andy Klein Peniae Ine 78th St end Highway LEE SUMMIT MISSOURI Shatter Peatiec Ca 71 ly-Pos and SO Highway KANSAS CITY KANSAS Wilsen Meiers 1031 Merrlam Lens Today cottonseed oil futures vf York Sept I 8 AP Bleachable cct- trrisced oil futures closed 10 hiaher to 10 1 133 coniracts October 1 sales" 133 contracts October 14 12 LSUISBUSG KANSAS llsir Equipmffti December 14 37 Januar: 14 50 March 1465 Ms- 14 75 Juty 14 72 September 14 51 bids October 1430 Pecam- ber 14 25 1 Tun in "Sid Cotsor averv Soturdev malt en WDAf-TV ehanrel 4.