The Fresno Bee from Fresno, California • 38

vrvYrrrnnrrnrnrTTYr tox-rrwr- "fw wv nyrn1 Thursday July 26 1962 THE FRESNO BEE Grape Report Investment Funds Your Worth Musi Dlricfc Pacific Issues Gain During Active Trade NEW AP-J Wednesday's Hiveitment funds: Bid Asked IM 197'lnGrCd 603 InvRes 730 IstFd 439 tJlNiM AbFd AdvFd AtIFd AfflBSh 344 494 403 AP Electric Sweden Swings Toward Free Enterprise System 140 KyCBI 13 34 KyCB3 717 140 411 401 779 330 AmMFd AFdTr AlPh AvHFA AvHFB AvHSFd AvSE ATemCd BIRM PEOIRAL-BTATB MARKET NEWS SERVICE ORAPI REPORT NO I US RAIL AND TRUCK CARLOT SHIPMENTS To Dot Final TTis RAIL ONLY (d) 3419 3344 CColt 43 21 49 77 3174 31 71 Calif 1443 1399 SColif 093 970 ImoVol 037 913 Other itafts: 440 411 Ariiana IS 31 13 10 403 143 30 63 Ottwr 1170 1217 TRUCK 13701 Intgrttatt (b) 333 NCalll 2 4 1 4 103 114 IMS 370 CCaiif 10 I 1 9 117 117 ll 1371 SCdllt 21 70 4 13 000 Arlxona ill 170 1942 1941 1941 341 333 134 SO 1677 1323 1430 1733 47 139 193 344 490 1130 114 117 947 33(4 139 173 PITTSBURGH The Westinghouse Corporation has reported a net income of $23514000 in the first half of 1962 a 304 per cent increase over first half earnings of $19561000 Income the first six months this year was equivalent to G9 cents per share of common stock compared with 54 cents a year ago Net sales for the period reached $956971000 an in- 449 KyCBI 333 KvCB4 147 KvCKI 141 'KyCKI By Asaorldtrd Press After selling off all week stocks on the Pacific Coast Exchange showed signs of coming to life this morning Trading was fairly active and the industrial averages were up 456 There were 83 gains led by Beckman Instruments up 3 Litton climbed 3 Vi and Gen- Stocks In The Spotlight INTRASTATE (C) 1321 1133 2422 1394 233 TtlRall 109 374 339 3143 to By Sylvia Porter Sweden birthplace of the cooperative movement and SnFd of much of the most advanced social welfare legislation in 57ifi history motherland of the Social Democrats and of direct economic controls has long been known as the land of theicSnPd "middle between the Communism of the Soviet Union and the free enterprise of the United States This was itsj boast in the 1930s in fact and I recall vividly how veChmFd studied its laws then to see how much Franklin Roose-cole? to 33 siMnpFdPa jo velt was modeling US welfare programs after those of this cSnUiiG 9 31 10 mSSms i'ii small northern European nation It was the "middle then It isn't now Sweden 976 1041 KyCSI 904 990 KyCSI 1031 1116 037 937 KyFdC 1144 1331 KnFd 1119 1341 KnGr 309 444 LdlFd 1337 1433 UxTr 1333 1441 Utell 933 1030 047 931 LmSC 1114 1317 tLmSM 379 413 MnFdEI 910 990 MnoFdG 997 1090 MnpFdM 1191 1073 1179 1274 330 330 1317 1032 1392 1039 24 22 1394 213 397 975 McsslG 741 l27MaLF 1714 6M Stocks In East Close Higher In Slow Trading 17 47 61 17 3167 2130 19173 334' TllTruck 29 33 35 15M J553 11343 214! TtlJUvml 71 1T2 3747 3433 31403 3i07i CALIFOr'nIa'gMFES IN MAJOR 2 41 1 TERMINAL MARKETS eral Electric 1 Lockheed crease of 4 per cent over sales in the first 13 29! 721 Tdfeta Arr of $920381000 half last year UM Irk Olv iCmoFO NEW YORK AP Salt closing orftt nd net clianM of th IS moil oclivo stocks Wodnatdav Sole Brumwlck 99300 Polaroid Mfni 77300 or veil 30100 NEW YORK AP The xra jsoo stock market today closed jotoo slightly higher in slow tiad-ljEJflJjgJi etc' 37100 inn US StMl himii 25300 la ilBM itmiiBiiii 25100 The list closed somewhat Ford Motor 34300 below its best gains CIOM 211 93 Vd 43 13343 30 to 4943 31 to 34 to 43 37to 41 to 31 to 3043 4to to to to vs has moved so far away from Socialism and toward 347 077 PULLMAN Wash AP enterprise that Business Week quotes a British banker iSScri ConGrF and ex 4343 1943 CorL ICWID A highly soluble industrial as saying "Sweden is a businessman's paradise" 234 which breaks a virtual perts who are analyzing the growth in the European econo-0eiFd mies in recent years to see what Europe is doing that we'tdvm 4000 year monopoly of gum to Unch 1036 1121 531 310 331 349 413 743 537 574 19700 11900 Foirch Cam Gt Wtsl Fin might copy here are increasingly urging attention to many of policies DivIFd DivSh DowTh gained 1 American Telephone North American Aviation and-US Steel Hoff-unchlman and Southern Pacific Kaiser Aluminum Vi- Losses totalled 25 with Safeway dropping and Ford and Seaboard Finance Vi- NOON PRICE! THURSDAY AllltdChtffi 36toiHomtstakt 30 to III Control 43totlmptr West 314: Inland Sit 31 to: Inti Paotr IStollntl Tt IlltoiXalttr Alum 30to Xtrn Ld St i Lin Ttm 14 Lititan Inds 40toLockhd Air jiUiLorill Tobe Jito wtln Ma SitoMid So Ut til! Minn Mint Mto'M'M fu Mont Ward 77 UnlrlM Im Alum Ltd Amer Can Amer Cyan Amer MAP Amer Motors Amor TAT AmerTobac Amer Vise Amoex Corn Anaconda Atchison Tog Atl Refining AvcoCorp Beckman In Belh Steel Sumo Air Mofrta Inc 34 34 to 71 341 2SVk 394 33 491 131 100 Vs 47Vk 44 to 20to 30to 41 to 334k 25to 54 Fresno Cotton Item: Sweden has the most liberal rules in the world EtHSf Ellnv governing the tax deductions businessmen can take when 1110 1340 1055 1133 Arabic which must be has been developed by the Neils Lumber Company and Washington State University The new product known as arabinoglactan is obtained from plentiful western larch trees and is cometitive with gum arabic a joint announcement said It now is being produced at the Neils proto early in the day when hopes were warm for a tax cut A better earnings picture for Chrysler and a successful secondary offering of General Motors stock helped boost sentiment for the auto shares Chrysler was up about a point in late dealings and GM a fraction Bethlehem which reports on second quarter results after the dose was also a fractional gainer Tht fmno Cotton txchong Thurs-day rtportad ant bait ioM Quotations art tar mixed lot tauat to official itand ards uncomprtued in public warahouies I 133 I 11 I 333 Strict middling 3330 3600 3633 Middling 3430 3333 3330 Strict low middling 3300 3400 3413 1317 1407 1301 1301 443 707 931 1047 995 1005 041 919 1279 1291 737 797 4 to 4to Mto llto uto they invest in machinery and equipment In comparison our newly liberalized depreciation schedules still appear exceedingly tough and restrictive For Instance a Swedish corporation can fully write off what it spends for machinery and equipment within five years thereby lower its earnings subject to taxes and slash its tax liability It can if it wishes write off 51 per SSptant in Libby7Mon'Cis th equipment's cost within two years Within exoected to have widespread these liberal limits it also can arrange its depreciation any Prcut way it prefers KmT Admittedly a reason Sweden can afford this is that it relies much less than we do on corporation income taxes application in offset phy textiles pharmaceuticals paint ink and food industries Cotton Market 1052 1131 MIFFd 1700 1125 MIFFd 6 21 479 MullFd 1423 1793 tMutSft 413 471 MutTr 965 1055 NdtWS 933 1019 Notlnv 1431 1494 NISSBd 4919 3039 NflSBa 713 701 NtSSD 131 911 NISSF 307 3ISNISSI 434 493'NISSS 1391 1312 NISSG 1117 1200 NEFd 1137 1351 'NWCC 500 544 NCESh 1013 1111 IWmSI 747 793 Opoft 994 1019 PMSY 721 734PoS9C 1334 14M PhilFd 1143 1343 PiSIFd 1493 1132 PtaFd 370 405 PrTRG 391 PurFd 114 PutGFd 536 QDIst 242 RtFd 393 tScFdC 244 ISeSCI 721 ScSClC 771 SdASA 393 SATr 471 SmFBFd 411 SoWImr 513 Sovinv 1141 1231 StStln 349 930 ISRliFT 433 711 SRiFSt 10 25 1133 SHnFd 1544 1411 TelEIFd 1392 1192 TcxFd 439 430' TwCGr 431 lUBSFd 2401 2401 'UnAFd 490 730 UnCoFd 701 770 UnlnFd 227 349'Unlnfl 724 791 UnScFd 310 932'UnFdCn 417 474 UnFdCn 1033 1132 VolLFd 070 951'VolLln 614 472'ValLSS 407 443'WSInv 174 957WMulnV 9M 1034 WtlEy July IS 1941 Fresnp-Tutara 10 Mm 43 SHIPPIN POINT INFORMATION Tuesday July 24 1942 44-103 clear Sentral San Joaquin Volley district Demand slow 1349 14341 Market weaker FOB shipping point 20 441 lg Cardinal 137503 2nd tabeta 911 991 3230 Ptrlcftt 31 2nd tabeli 3230 1327 1 227 'Thompson seedless 3230 Few Delight 1743 1743 33 325 049 049: BAKERSFIELD 70-101 dear Kem 795 140 district Demand fairly pood at lower 912 1073 prices tar best slow ethers Market 9 44 Slightly weaker FOB shipping point 21 I ix to lg Thompson seedless $230373 lew $14 50 2nd labels $3 3 Wj25 cardinal 32750 3 mosllv 33 4rw Red Malaga 13323 R'bier tew fi-75 33 Precooling extra Shippers will 00-U'S? Mrve picking holiday ell varieties 'V Wednesday July 35th Saturday and Sun- -i NEW Thursdov: Cotton futures declined today os market advances of earlier In Itie week brought out com mission house selllne The reaction was Twentieth Century-Fox feIlalso attributed to resport In the trade than 9 nninta si tha hot detail of the government cotton Ulan paims as me HM M00rt program wm be issued shortly Tht markets recently had been advancing because of tht delay In the announcement which had been expected more than 2 points as latest executive changes were the news iilhogra-to jij in Du Pont and International! Late afternoon prices were 10 cents to 224k It serves as a binder filler to balance its budget But the key point is ithat primarily orsFA 434 'coating and emulsifier and had as a result of this enormous incentive private industry's orspJ gross investment in Sweden amounts to one third its totality field tested as an ef litoibeen than the previous 3390 December 3394 3113 a bal clou October March 341 'SS daVJuV nm sfwT Wedneldav'S wtwtaMta 343 i im paid wficient way of cleaning and Brunswick Budd Cmp Burroughs Buttes Gas Calif Flnand Cant Pack Color Trac Cetaneu Co Ches A Ohio Chrysler Corp Cities Serv Con Edison Cons Food Comum Contin Can Crown Zell Cutter LA 01 Gioroio Dame Mine Dow Chem du Pent El Eastman Kod El Paso NG Elect Soee Fairb Whit Falrc Cam Falrc Strat Fargo Oils First Chart Flo Power Ford Motor Forem Dairy Frlden Corp Genl Dvnom Gent ElKlrlc Genl Motors GenTAEl Gillette Co Glad McB Glen Aldan Good Humor Gt Nor Ry Gt West Fin Gulf Am ind Howl Pack Neff Else! output and its growth rate last year was an enviable 4 4 per a goal for which we are striving but failing miserably to reach 44to 'preserving printing plates NY PRICE RANGE THURSDAY Futures closed 30 cents to 31 S3 bale lower than the previous clou HFHC7 HFHDA HvdF ImC ImFd InFoFd InFdBo Incln Inclnv InsFFd InsGrFd InslFd IntRFd InvCA InvTBO Nickel were up about 2 apiece in late dealings IBM's gain was about 2 and Xerox rose more than a point General Electric was about a point higher Kennecott more than a point Youngstown Sheet more than 2 and Armco Steel more than a point Dow Jones iitoiNuioma Nordon Co Am Ay Olln Malhl 'Oto oulbd Mar 225 Pac GBEI 30topGAE ptd Indust 4itoipac Na Air 451'Pork Day 48to pennsy RR 71 to Phil Petrol 29 to: Pullman CO 26 to Pura Oil CO 39 to Rayltm Co 40to Rturv Oil llto Rey Tab 121 Rhodes 28to' Saleway St 4JtoiSun Imp 133 SMb Fman 95toiMn Roe 20 Cal Ed 7Vk'loulhn Co 5Saunin Pac 4juSouthn Ry 2 jSoerry Rand 21 Sid Cal Stand 0 NJ 41 ZI iSIPulfer Chm Stud Pack 29 ij9nn Gas Slu iTexaca Inc JJITex Gu Sul Thiofcol Ch leto Jronvw Twent Cent Un Fin Cal Pacific i0 'Union Suoar um Airline Us Sleet 1 9 to Von Croc IWeslaln 204 1 West Banc EIK merket euele- merchantable 1 01 i ii guaNlY and cendittant hi less than cartel in I ii'el auatilinai wiles etaerwise slated e'Te 10 70-12 ctoudv Market I'm ill I1 tow weaker Cant 24 lb Card find IS 27 1640 c- 4505 mostly 3430 Thomason 13:37 41 mostly 430 taw tow os 4 3 271 PORTLAND 30-37 Mr Merkel 2 73 at steady Broker sales Calif 34 lb Theme- 04 3 71lKn 3323330 Tkd Calif 3 99 9 13' 37-14 ctoar Market stow Itiss 1233'woker Calif 21 lb Thompson S3 1447 3 23 3734 Pwiette 355 23 1202 1299 604 42 594 tb S3 30 Cardinal 3473 Rlbler $430 LOS 43-12 ctoudv Market sllw weaker on Rlbiar and Concord 314 114 14 Mto 2 41 24 494 27 13to 541 32 331 71 31 to 5t to 13 33 21 73 21to 29 to The Brunswig Drug Company will expand into its seventh western state with the acquisition of Montana Wholesale Drug Company in Great Falls Mont The announcement was made by Ronald Holt manager of Fresno division Brunswig bought the company which supplies approximately 170 pharmacies in Item: Sweden is still strongly pushing social welfare programs and its welfare spending this year will be 9 per cent above last years and this is the crucial but to finance these programs Sweden is levying sales taxes on consumers not hitting the businessman This alone shows how far it has traveled from the system which as Business Week puts it "once appealed to have nots the world over Today Sweden is more like a giant corporation whose employes pay for most of their national 'fringe out of freeing management to provide for a growing economic pie" InGrMu 1036 1130 WMFd InGrSt 1357 1434'WhlFd InGrSe 1021 InGrVd 549 594WHFd tNet asset value Chicago Grain about steady others SJV Thompson 33 lb 33304 few $430 he 10 to 13 cants 14 to 14 Coach Vly Thompson 24 lb 5325425 Isa 15 cent ether 12 to II Cardinal 3230330 3323130 3373 rfn 3223373 7 to 10 Ribiar $5304 20 lb Averages Earnings Reported NEW YORK AF Freeport Sulphur1 CHICAGO Thursdov: Moderot sellino ooalmt a nwager demand chased the groin futures market Into general weakness In the early oiler noon on the board of trade Rve showed the only gains Wheat finished to to 14 cents a bushel lower corn 4 to 14 lower oats to to 4 lower rve unchanged to I to sovbeam to to I cent lower I ConiDonv hot rworfid sipupa puiuiu uJL SjjP 'okisl lr h0f ket vmr gorltor tovgit for an undisclosed Jtem since the 1950s Sweden hM hiftin8 the 4 to leash amount and will operate burdcn 2iS it as a subsidiary paying for welfare programs to those who benefit most for them It cut the corporation tax rate from 50 to Tito comoony clsartd I to 10 cents a sbarg Jung parted camoartd fS 0 h0r' S3 Pgrtefle 273 Ira 33300173 oce high as $4 During Rte Jung auarttr not tncama Rjtyt 3315323 Tkd Cal 3 dlootd to 5003 032 or 40 cant a CALIFORNIA ORAPE AUCTIONS shora tram 33937347 or 52 cnl a Thomas) Sicdtoss iji Pkot Prk Rongt Avf First halt sales row to Chicago 3444 315 510 433 Livestock Market DENVER AF USDA Thursday: CASH PRICES THURSDAY Bushel prices: Wheal No 1 red 33141 corn Uo 3 yellow 3121 oats No extra heavy white 66toc No 2 extra heavy yellow 664tc sample grads extra heavy white 441 Sovbeam No 1 yellow 323 Soybean oil itob Barley: Malting choice $1 31121 cals No I extra heavy while 40 per cent in the late 1950s the top individual tax rate from 80 to 65 per cent (Our rates are 52 per cent on cor-land Steel Company has 91 rate individuals) Its general ported today a slight drop in tax 18 now UP t0 6 4 cent- Now direct taxes on businessmen amount to 24 per cent of its total output against 45 per cent here while its direct taxes on individuals amount to 145 per cent of output versus 95 per cent here $24614921 a var ago auortar salat dipped slightly year ago 703 101 447 heftoVstoody toil for the second quar-rtoi 1 of 1962 compared with the same three months in 196L Ibsa42ji249jand -000 Joseph Block chairman told stockholders the firm Allot 152352 400405 100303 1400 420 400605 365370 25 ib toe Detroit New York 1 Car Philadelphia 1119 Express bg 400 Pittsburgh 1040 151 404 145 PRICE RANGE THURSDAY CHICAGO AP Bushel Open High Low Clou Sept 32144 $3l4to 32l3to 2134 Dec 230to 221 319to 2194 March 324 to 3249 213to 2334k May 221 to 222 2214k 2211 Dynamics Corpora Hon at America (aer-oepace communications eauipmant) tar six months andsd June 30th 191 1963 Net Income $1752354 031140 A sharp 52 cents 33 cents 313 334 031 TOTAL 13141 140703 Tuesday 3535 Year ago 3365 Cardinal 974 300395 1000 steady slaughter soring 10 molly F11" to SeSTflSaSTC HOGS-TOO stow I barrows and gilts nwwtiv mtoorx sows steady to is Maher r'Wl ond gilts US 1-2 200-240 lbs 319750 20 sows US 1-3 300-400 lbs 5 No 2-3 400-315 lbs 31150 Hudson Say Mining and Smelting Cam pony 109 to 1094k 1 1 2 to 1131k 10S1 10S 1111 1134k 1004k 100 1111k 1134k 5535041 Detroit 133333 33402790 A sharp 23) 114 320 349 119 203 2040 3230 1043 753373 343453 2750430 earned a profit of $13456869 or 75 cents a share in the quarter ending June 30th This compares with $13605988 or 77 cents a share made in the same period last year Block said' But Block said that for the six months of this year sales production and shipments as well as earnings all were ahead of the first half of 1961 New York Philadelphia 431 441 491 491 424 434 41 to Mto 42 65 to Mto Mto 343453 341 3-40 7309 3700 4197 TOTAL Tuodav Year 000 St Louis San Francisco Railway System lor the six months ended June 30th: 1941 A Share 14 cents Net Income 33294042 Scot 109V Dec T09Vk Moral 112to May 1144k OATS- Sept 43 Dec 441 March 49 Mov 494k Sept 1321 Dec 1724 March 1 24 to ay 12S4k Aug 2411 Scot 3324 Nov 231 to Jan 3331 March 23Sto May 3404 CM 1331 1274 ikon Y01 ark Allot 350413 425430 SI 1805 722 330 344 427 1211 122to 124 1244k 173 4k 1234 1731 1231 ttllllt Philadelphia t' A li I I I J24to 351 Item: Sweden has swung away from low interest rates to the orthodox policy of high interest rates to control inflation Its interest rate levels are far above ours but at the same time it pays any interest on housing loans above per cent and thus subsidizes home building Item: Most significant of all though is the extent to which the Swedish government and businessmen are cooperating to speed and maintain the economy's growth This is what the First National City Bank in another reference to growth calls the "something intangible in the atmosphere a spirit of positive encouragement to Ibis also is the point which German Economics Minister Ludwig Erhard makes in his book Prosperity Through Competition when he says it is considerably easier to allow everyone a larger slice out of a bigger pie than to gain anything by discussing the division of a smaller What glorious irony it would be if just as we followed this Arctic Circle land to the in the 1930s we follow it to the in the 1960s! We very well may too Distributed 1942 by Tito Hull Svndlcotg Inc AH rights rgsgrvtd United Fran Company Net Income 31704000 A Share 101 3400 230475 149449 1941400 TOTAL Tuesday 341 344 320 Year ago ggitissst 2471 2311 231 to 2344 337to 340 247to 2314k 331 to 3344 237H 240 3414 1124 212 3354k 3334 3404 -STOCKTON AP Thursday: Is! Nona Market net establlshetf JfRESNO HOG AUCTION TUESDAY: ISO hood 04 butcher hags 72 feeder hogs 23 sews two boars Market cwn-' o4: StronoTiO to 73 cents higher sows so cents higher pto? 0 eenls higher Liohl- weisht butcher hogs 143 to 135 pounds 3112319 US No I 133 Ip 200 poundi- WJnSic0' if' Lf20 R01 31973 toTO US No 2 300 to 220 pounds 5 417 mil0 3 R- Pounds N- 3 330 to 400 gffftkW'iy1 0 PoimS? 0 Pounds 1237325 heavy teedars 70 to 120 7f3 SuntoT Ribter 100 140 Phillips Petroleum Company Net Income 330110000 34902000 Share 144 140 Chicago New Yerk Allot 435470 490 414 240 490470 3133191 Alfalfa Market TOTAL Tuesday Year eoa 575 374 Wheeling Steel Cor Deration months ended June 10th Net Incomt 35171000 A Shora 304 1717000 42 canto 730 Exotic Chicago 70 All at New Yerk 110 130143 d60 042 Inc (Textiles and Agro- Textron chemicals) ISO 440143 733 CLOSING AVERAGES THURSDAY 30 mduilrial 37941 up 494 30 railroad 13114 up 024 13 Utilltl 11317 up 124 CLOIINO PRICES THURSDAY Fumitbed by Otao WiHtr A C6 Member of Ntw Yerk Slick Exckutge High Low Abbott Lab 64to 64 to Allied Chemical 36to AHle Chalmer ISto American Alrllnei 16to Amerlcon Can 43 to wr Mch A Fdry 21to American Motor 16 American Tobacco 31 to American Smelling 494k American Tel A Tdlll to Amoex 14to AT A SF 21 to Anaconda Caeoer 40to Amutrong Tire 304 Bell A Howell 23 to Bethlehem steel 33 Boeing Aircraft 391b Borden 494 Brumwlck 31 4 California Pocking 324 Caterpillar Tractor 30to Cetanes Carp 35 to Chewpeako A Ohio 414b Chrysler 434k Can Edlwn NY 74to Container Corn 20to Crown ZcHerbadl 40k Deere A Co 444 Doualns Aircraft 23 to Daw Chemical 434 Du Pont 134 Eastman Kodak 954h FFI Mi 6344 FMC Cp 70 Ford 42 General Dynamic 224 General Electric 434 General Food 72 to General Mill 23 to General Motor 304 Genl Tel A Elec 194k General Tire 314k Goodrich 454k Goodyear Tires 304 Greyhound 344 Int Bui Modi :373 Int Harvester 464 International Nickel 374 International Paotr 25 to Ini Tel Tel 394 jahns-Manvttte 41 to Jones A Steel 46to Kaiser Aluminum 33 4 Kennecott Copper 70 Kern County Land 70 Lockhoed 47to Martin igiMiMiiii 206 Merck iiMiiMtsti 71 Minn Min A Mto 49 Monsanto 374k 'j Montgomery Word 26 to Now York Control 134 No Amer Aviation 624 Northern Pocllle 34 to Olln-Mathlcsan 24to Pac Gas A Elec 2S4h Pacific Lighting 34 Paramount Pic 41 Pan Amerlcon Itto Pennsylvania RR 114k Pepsi Colo 41 Phillip pte 4 Polaroid 974k Radio Coro Amer 43 Republic Steal 33 Reynolds Aluminum 26 to RJ Reynold Tab 444k Richfield Oil 37to Safeway 394k Sc hen lev Indue I9to I Sear 44 to II Shell Oil 33 to Sinclair 33 Socony Mobil 494k Sperry Rand 14 So Calif Edlun 36 to Southern Padfle 244k standard Brand 36k Std of WJ S2to Sid of Calif 34 to Stauffer Cheat 3 3 to Studebaker 74 Tan Go Tram 219 Tex Comoony 52 to Tex Imtrum 63 to Tramamerlca 364 Tramltron 9to Union Carbido 34 to Union Oil 48 Union Pacific 39 to United Aircraft 43 to United Airlines 36H US Rubber 424 US Sleet 454 Vorion Assoc 29 to Vendo Corp 24 to Wstphouu Elec 24 Ynoxtwn SAT St Zenith St Clou 44toJ 364 154k I6to 43 21 134 30 414 1I0H 134 21 40 304 324 33 394 49to 21 274 30 to 35 314 43V 74 to 30 404 444 224 414 93 424 70 411 33 434 714 23 30 19to 31 45to 304 74to 369to 444k 374k 354k 39 41 46to 3244 70 69to 47to 70to 70 4lto 37 354 13to 42to 34 Mto 21 534 40 II 114 41 45 944 444 31 2Sto 43 36to 31 I9to 44 314 31 49 134 34to 244 34to 57 34 33to 7k 71 51 62to 344 9 ISto 41 29to 42 24to 42 454 29 75to 34to It 49to ibis 14903000 131 1343000 33 ctnts A Sharp 333 ST LOUIS AP August A Busch Jr president of Anheuser-Busch Inc has reported increases in beer sales and earnings for the first six months of 1962 over those for the same period last year Net sales were $162209252 as compared with $154224-836 for the same period last year an increase of 52 per cent Earnings were $7928997 or $162 per share compared with $7803658 or $159 per share for the similar period last year CENTRAL SAN JOAQUIN VALLEY ALFALFA HAY MARKET For week ending Monday: Market slightly weaker Demand was stow and offerings readily available However a moderate volume of trading was accomplished under pressure Quality generally is good fg hay with only limited amount of Trading was heaviest at No 2 price with Mies at 32021 primarily In the Tutor Lake section Sample grad Mies ranged as tow at $10 roadside Dealer buying prices on hay compar-abit la US grottos July 23 193 road' side: Avo 370 Cottonseed Oil Colgate-Palmolive Company Net Income 310309000 10424000 A Shora 139 127 TOTAL Tuesday Year ooo S3 Total Sotos Today 1048 Pkgs Tabte 23278 1941 Tabte a 8347 Tefal Sales Tadate 1932 Toblg 3391 30 1941 Tabte 449097 009000 to to to to to to to to to to to to to to to to to to to to to 664 NEW YORK AP Wednesday: Bleachabto cottonseed Ml futures closed 3 to 20 higher Sect ember 1303 October 1344 bid December 1253 March 1230 bia 330 International Silver Comanpy Net Income 51417000 1037000 A Share 113 71 canto VISALIA CATTLE AUCTIOlf dov: Receipts of about 330 head Included to? IM rdA im buiV Sid fcroh 1 Oil CIOUH with prktt wtitn comportd lent sol or cmn tauht- SSL cnt4 Imtonccs SI J'tpttw fdr leers cm twiforaond standard 194 to 1055 32040 330 Chrysler Lists 6 Month Profit Of $119 Million DETROIT Chrysler Corporation which lost $157 MADERA AREA: US No I 119 No itooly 1119 US 1 US No 2 nominal 17t FRESNO-KERMAN-CARUTHERS Atm: 2190 Sl-RUGHTER Goad 547 to Pounds S229O0237O shxxkircLtfO to IJI70 pounds S2O1O07I 30 SLAUGHT Few head com' "rftol anoe brads 1174010 40 ullll to1 mainly $I4I7 higher yielding touching Si 740 law In with libera fllls dowT to RHd cutter 5131015 30 i Utility 1173 to ItSIO Doundi ronw brcdi 11716 1970 ullltty 2100 pound) dairy bred nimnrtitrr to 703 Pounds 52340 oood ontf rholc 430 to 695 nound gia'aa'tfR Bfjmjjs SI 09021 lo33 Sh feeder HEIFERS Choice 343 620 pounds 52310 231 good sis 2 -200 22 70:3) 545 medium 432 to 7(3 to to pound) pound) ROME AP The Fiat Company reports Italy's boom' ing automobile industry is headed for even better days An estimate issued by commercial division predicts 775000 auto vehicles will be produced by the end of this year a 200 per cent rise over output for 1961 Fiat forecast is 850000 for next year 265 per cent above that for 1962 US No I SIS US No 2 Italy 11718 US No 3 11514 HANFORD-CORCORAN-TULARE AREA: US No 1 $13920 tow 321 US No 2 toaty 11713 US No 2 117 nominal -SOUTHERN SACRAMENTO VALLEY: US NO I 3200017700 US No 2 leafy US No 2 STOCKTON DELTA US No I 12200 US No 2 leafy 210017300 US NO 2 SI9OO0S2OOO TRACY FATTERSON DISTRICT US No 1 $2400 US No 2 leafy 5230013400 US NO 3 3210032300 LOS BANOS-DOS PALOS FIREBAUGH DISTRICT: US No I 17300012400 US No I leafy $210012300 US No 2 $200012100 SOUTHERN SAN JOAQUIN VALLEY: US NO 1 1210011900 US No 2 leafy 5141 $11402130 STOCK Common million in the first half of last year reported today a profit of $119 million for the first six months of 1962 The net was equal to $131 a share The turnaround came despite sub par sales of $107 billion which barely exceeded the $995 million total of the first half of 1961 For the second quarter Chrysler reported earnings of $106 million or $117 a share on sales of $572 million These figures compared with earnings of $62 million on sales of $563 million in the similar quarter a year ago The second quarter also showed improvement over the first three months of 1962 when the automaker earned $13 million on sales of $498 million The board of directors meeting in New York declared the usual 25 cent quarterly dividend Put these men on your SECURITIES TEAM! LOS ANGELES UPI FSMNS Thursday: ALFALFA US No 1 $2130 No 3 leafy $23302730 No 7 gram 324 27 No 2 52325 oaf hay $21 31 common 1 5 2 50 per pair Foloble 250: SLAUGHTER Good 210 to 275 pounds veolen S292S 1030 standixrd 245 pounds 32525: 345 360 Pw-Kto calves 37625 27 Itandord 350 to 434 pounds 322:3022 370 FFEDER STEERS-CNUce 305 to 373 Pound) 57671 30: pood 100 to SIS pounds 334302725: medium 300 to 475 pounds 330 74 75 FEEDER Choice 300 to 170 pounds $25 24 290 POondTl27 oood 330 to 455 pound) 5277110 medium 440 to 300 pounds 3191940 Poultry Market When you seek investment help select an experienced securities team The men behind the man who serves you often make the big difference in your investment success NEW A price of $49625 a share was fixed on a huge secondary offering of 1589680 shares of General Motors stock The total value of the offering is close to $80 million The stock is part of the GM shares distributed to owners of I DuPona deNemours Company under a court order It is owned by Christiana Securities Corporation Longwood Foundation Inc and members of the Du Pont family FRESNO UPI-FSMN Thursdov: Prices to poultry producers on ranch: Live chickens central valley and coast-at areas: 141 191 LIGHT HENS 45C HEAVY 1IC 24C 30c SQUABS 40c delivered San Francisco 30c LIVE TURKEYS Young hens price young toms 1313Vkc Bntlor f-rne PI- oorn Unlisted Stocks An Account Executive at Dean Witter has a team of specialists to help him assist you' including: THURSDAY The following bd and ask prices "torn stwd to the National Assacl-" to" Securlly Dealer but are un-official They are intended as a guide to the aporoximate price range and da not reprasenf absoluto San Jooautn Volley oavlna price FOR ranch: Federal-State Market News Service Thursday: Prices In retailers 1617 SMAI I 910C SAN FRANCISCO UP Wednesday: Doiry prices to retailers: Cau 30 doxen Large AA 3541e large AA 32 19c medium AA 2632c medium A 35031c small 263 An 84 member research staff investigating and making recommendations to him 17022c Small A 13021c NULAID Large AA 35 BANK CLEARINGS Fresno debits 5 12313447 San Francisco 144300000 1144914 5132730 394174722 SAN FRANCISCO UFI-FSMN Thursday: Dressed poultry raady to prices for ratontrs: 3O038C 41041c Under 4 pounds 1S73c 4 pounds and ovar 33013c Fryers-raostdr 3642c Yeung hen turkeys is 41TURKEYS Young pounds 3J-33C TURKEYS Young pounds 37-44C 17 An active full time municipal bond depart ment keeping him informed about bonds offer' ing tax-free income 41c: medium AA 27032c small AA 23c SYLVESTER Large AA 42c medium AA 31 small AA 22c A and A 1 pound print 44070c to pound print 47 70toc bulk A S33 61 toe CHEESE FSMNS Single daisies 40to45Vkc practised American loaf pounds 43to4Stoc mud American Cheddar 40 pound block 40to431c SAN Western Bancorporation's first half consolidated net operating earnings increased to over $129 million from $125 million a year earlier according to Frank King chairman Share net of the bank holding company for the first six months was about the same as the 75 cents for the 1961 period Pactfic Gas a 4 Electric Company An investment banking department under writing as a major participant new securities for distribution to clients Bid Advance Industries 1'4 Arden Farms 1514 Bobeock Electronic lit Boird-Atomlc tMiDumn 4 CallMnto Llauld Gas 14M California Water Servlet 26to California Wafer 1 Tel 13 Consolidated Frelghtwovs 10 to 11111 384 toi-McCultouah Inc fto Electro Instrument 414 Electronics Capital IPs Kaiser sleet --a 16to Kendall Industries Jto Lsnaendorf United Bakeries 17' Lonas Drug Stores ISto Lucky Stores 13to Pacific Intermnto Exarcss 111 24 24 tOto 34 Western Grain Ask iv Uto 17' 71 Uto 29to I9to Uto 30 to Uto Uto 7to llto Uto Ito T3to TOto Uto 12" 2Sto 25to Uto 37to Uto LOS WOdnesday: No 2 western barley No 2 TC corn 3247 249 No 2 TC milo S2434 343to Na 2 yellow mile non transit tram the east 1215240 CONSKUTIVf 0UAITI11V DIVHKRB ON NISI mruiED STOCK A staff of specialists executing orders in the over-the-counter securities market New Station Will Feature Concert Selections News SF Produce STOCKTON UFI FSMNS Thursday: na 7 western 46 lb barley' S242343 No I while wheat 3235 Producer Cotton Oil 37Vi No2 yellow corn ITC1 3247 San Jose Water Works 1 37V Portland General Electric Pacific Power A Light Four New York Stock Exchange floor part reporting their comments twice daily to all offices 3-44 249 No 2 yellow milo ITC) 244 Sltotitly weaker lugs and ctn 21 1 ip San Joaquin Vly Thommon R'btora 325-350 300-7 73 30 23 'a 13to 24'! Systran Donner Thrifty Drug Tronic on Goj Pine Line Wnt Coast fri XI) ransmisston ocks uto I- Slightly ttpr Kara 1 4 Co Poococks and stripes 3-31 cents per Wool Market tegular quarterly cash dividend) declared by the Boo'd of Director on July IN 14 hr the three period ending July 31 196 will paid upon the outstanding Preferred Slocks of this Company by chock on August 1 14 to shareholders of record at the close of business on July 196 jib a versatile closely coordinated investment team team ready to go to work far you! Slightly wkr Joaquin: NEW Thursday: Wool futures were mixed today Liauidalion and Bank of America 49'k 51 to: and Coachella Vly lugs II' to hedging were absorbed through dralrr 1 Central Valley Notional Bank 3J buying and short covering wool topi Crocker Anglo Nall Bank 4 to 34to 44 to 36 44 4' S3 to 325-330 Sltohtiy wkr all Cotit dists lugs Italian 223-230 summer 200-223 yellow crook neck mostly 300 Slightly wkr two lover lugs 3x and tor Fresno and Tutor Ca 75-100 mostly 173 Diego Co 200 Radio Station KIRV which will begin daytime broadcast-ing on 150 kilocycles August 15th will offer light concert music and news according to i station manager Roger Lar son Earlier plans to specialize in religious programs have been changed he said al-' though there will be some religious programming on Sun daysi Dean Witter 8c Co CHRISTENSEN Kict President and Treasure' San Francisco Calif futures were slightly tower Wool futures closed 1 at cent lower to 2 at a cent higher October 175 50 December 1213 March 227f May 1217 July 1704b October 1191b December 1190b Certified wool soot 1 24 On Weal tops futures closed at a cent October 1443b Wool too futures closed 3 of cent Octooer l3b Certificated spot wool toes 143 On First Natl Bank of Son Jew 3 to Security First National 40 United California Bonk 40 Wells Forgo 52to Insurance Stocks Col Western States Lite 43 Fireman's Fund 3643 Franklin LHu 9e Pacific Emutovera 29 Security Title 114b Title insurance Trust 34 Traveler insurance 1331 Members New York Stock Exctiingo Pacific Coast Stock Exctian(s Patterson Bunding Fresno AM 6-0771 505 West Main Street Visalia Soybean Oil Futures si to 40 100 to Bid I4to sito 1444 December WEDNESDAY High Low 121 309 B13 Close 12 V- TT.