The Daily Item from Port Chester, New York • 49

Manuf acturers Like rTifiviiiin ine Pfinonaiit A' THE DAILY ITEM PORT CHESTER WYn WEDNESDAY JUNE 10 1964 I Stockholder Earning for inflation and tte coat to tte' consumer metal company-officers Hke to stress that current- pries rises are restorations of old levels not an advenes Into new high ground -ii TickerTalli Stock nutn ket comment included Kenneth Wind of Baydea Stone fo Co "Tte current phase -V- at the rharket has rightfully been described sf period at treadtion better still a corree- tive downtrend from the -838 Dow Jones area: Not only does this seem to represent normal seasonal ihlft from sprlng to 1 summer but It is also a Emo at y--' psychological and technical -change-when tte market van-'V hesttates to reassess ths NEW YORK Manufectureri View- their eales prospects op- tlmlattaelly-'a- Commerce 'De- purtment report showed but they intend to hold a rather tight reta on inventories A aur-' vey In May at seme 1460 larfce iMimtMhw fnmpanlra til dosed they expect aeoond quart-er aalea to climb taw per cent from the tint quarter to a oeaaooaBy adjusted Mill Union a record volnme lor any quarter Another tare per cent ride if anticipated for the third quarter While then gains be aa extetoaive aa the three per cent at the first quarter a department economist commented they would mean very high nte of operations" Factory managers plan to Increase stocks more rapidly than the seasonally adjusted $150 million of the lint quarter the- report said but the projections appear "quite TEXAS GELT 8CJUFBUB i Texas Gulf Sufetanr Os la let- ttog cootracts lor canatouctkii of an aeceaemad to Its new minenl discovery near Timmins Ontario Claude 0 Stephens president said He added "we are Interviewing engineering contracting firms -and will select a -major contractor to open the pit and build an ore-concentrating Hr Stephens reiterated the company la "moving ahead aa' rapidly as possible" to develop the find and agnln said there "la no truth hi any of the many rumors which am circulating to the effect tin company have dear title to the lands" near Timmins 4 fc I WILSON A Co and riainretic -suburbs 29 weeks to Aprll 25 net $94 mllllan at $2J0 on sates of $3627 minion ctaqmred with $17 ndDion on aeks'of $3464 miMlonv 8WDT A Co 21 weeks to Ap-rfi 25 net 4104 ndMon or $L79 oa -totes at billioB oom-pa ed with $84 million or $142 on sates at $1222 billion for the year earlier period ILLINOIS Central RJLSfive months to May 31 net $41 million or $141 against $44 million or $L45 CONTINENTAL Air Lines Du (report to CAB for months of April) net $187400 on operating eveaues of $84 mflUon against $109400 on opemtlng revenues of $94 mEion 'OKLAHOMA Nsturnl Gas Co and eubaldlarles for 12 months to April 30 aet $94 millioa (after pfd dMdeads) or- $218 compared with $84 million (after preferred- dividends) $148 for the year earlier period 4 BUELL Industries Inc and subsidiaries for fix months to April 30 net $290400 or 44 cento on sales of $44 million agafaut $218400 33 ceits on sales of $34 mmion' FLUOR CORP Ltd Six months to April 30 net $458433 or 51 cento on Bates of $461 mfl-lion agaiut $700471 or 78 cents on sales of $734 million lor the year earlier period General Anfilnefo Ifim Corp advanced with the first meeting of sevenman eummltteethat win advise Kennedy on details at the isle TbelLs has held Its General Aniline aecurltiea dnce1942 when it seined the company aa an enemy asset The -advisory commlttee ii chaired by Donald Cook' praddent of American Electric Power On The commute will recommend a plan for recapitalising Genenl Aniline At present there am 892743 shares of Class stock and 2050000 shares of daas "B1 stock After recaplalixatiop the new stock will be registered wfth thWSEC for public sale CIGARETTES DIF Factory cigarette shipments declined by 13 bmioa during the first thma months of this year and them la question" tha the drop was due at leaat in part to the surgeou report on smoktng aad health the Internal Revenne Service said today The decline In 'cigarette ahlpmenta came id -February the month after the report appeared But they rebounded Sharply la March The report which appeared Jan 11 called smoking a cause of cancer and other diseases A total of 41 bO-lion cigarettes was shipped January 29 Nlllon In February and 39 bmkn in March the HU odd ALCOA STOKES The Aluminum Co of America said hearings on court orders banning strikes threatened pt even of its plants may be held Friday in several rifles Aa Alcoa spokesman aald the company obtained temporary restraining orders prohibtttag midnight strikes at Lsscaster and Oesso-na Fa Chilllcothe and Davenport -Down East St Louis HL and Yankeetown and Lafayette Ihd The dispute ceatera on Job changes at Mail NY plant About 3400 members of the AFL-C3D Aluminum Workers Ddernatioaal Union struck -the Haaaens plant on May 23 and threatened to strike the other seven plants because It feared Job cutbacks might nead to BOEING ORDER Boeing Go received a $274 million Air Force contract for additional work on B-52 aircraft MostAetive Volume 'w-435400 Tex Gul 83400 RCA 67400 Chrysler 57400 53700 GiUet 29 49400 SperRd 16 39700 Tens Gas 21 36400FS Air 38 33400 Pan Am 71 31400 Zenith 85 30400 Gen Mot 96 30400 How- John SB 30300 Unit Art 33 28100 Penn RR 29 26700 Curt Pub 11 Osm CtoagW Van ajl- XPJ94 f7i4 jq up 4 pl upl off to 2 to to Opening Prices By Dew Jauee Mown Barries NY ROCK EXCHANGE United Aire 44 oft Ford 51 off Kodri: 132 off Inti Nickrt 76 up PuRmui 30 off Oentrel 81 up 1 Arner Elec Po 40 dff Sterling Dr 27 off Chrysler 47 up IBM 471 up 1 -Genl Mot 86 up CUif 62 up Atchison 31 np Royal Dutch $4 to ONJ 85 up Reyiolda Dob 44 up -1 AMHBCAN EXCHANGE Aerojet 30 off Date-Control 41 up Gutioa Ind 15 Imperial Ofl 46 off Mead John exd 18 up Molybdenum 35 up Paddington 36 off Rayette 41 off BATTERY UOPMENIE UP CLEVELAND (DJ) Ship menti of automotive batteries to the rqlacenieut market la April rebounded from a three-month slump and set a record for the month the Aaroclation of American Battery Manufacturers Die reparted A preliminary report from gi battery producers ahows the industry shipped 1-599100 unite in April compared with 1494400 units in March and 1M1400 in April 1963 The first adhesive postage tamps were portraits of Benjamin Franklin and George Washington fimdameatsl foctors underlying fntnre stock prios movemsnto'i: and lays tha fimsdattea for a la-ter tear A Staff Incr foe near term some further weak' ness is indicated and thus more ccnservativlsm la needed- We -would aim tend to contlnua upr griding portfolios'- which- sreiv heavy In cyclical or speculative issues However the longer-term trend atm appears up sad we would regard any Anther weakness as an opportunity purchase recommendpd rT Shit Survey "Avoid epecukthw rifos and moke sure reserves are adequate for pfoitatldu of future-'wealmeM-Xv- For some stocks the qyualty is near at yfrr OiirtAssent fit i 4 WASRiNGlON 01 The to prerne Coert ruled xnanlrnowiy Monday- that federal tribunals have authority grut all accessary remedial relief te a stockholder who attacks a business merger on grounds of dr-cidation of misleading proxy material -v Tolp Ctork speaking for the court' said that while the Court upheld the authority to grant relief it wasnot giving any Indication of what might be ths neceaauy and appropriate relief in ths particular case being decided Tte litigation grew out of tte 1960 mexger of Case Oo and American Tkactor Oorp CariH Bonk who owned 2400 hares of Case challenged proxy statement that Caee filed with -the Securities 'and- Exchange Gommlsskm to explsin the merger propoaaL Bonk cootended the pray statement need to eoUclt stockholder votes tnided stocktedden He did sot succeed in preventing the merger end bice has sought to undo It and obtain other relief No Contest Pleading In Boston Milk Cbm 1 BOSTON I) Hood and Sons Inc and United farmers of New Eigland Inc' pleaded guilty in Federal Court Mon-day to an indictment charging them with conspiring to fix prices for the mle of milk- id tte Greater Baton ores' National Dairy Products Oorp of New York City pleaded ndo contenders bio contest) to the same charge Judge Andrew A Coffrey put off dteporitian of foe cases until next Monday Hsrvey Hood chairmsi of the board at HP Hood Stanley Beal of Wellesley HUls general manager of Untied Item-ers Albert G-Fisher -af Scars-dale NYH vice preiident and general nanager of the ice cream dvtoloa of National Dairy Products in Boston and Leo Maher of Needham general manager for National Dairy In Boston aH pleaded note contendere and their cases also were continued to rext Monday BROWN' Forman Dlstlllen Corp and tte subsidiaries fiscal year to April 30 get $79 mUUoii or $L28 on soles of $1237 million against $41 mlllkia or $L19 on sales of $119 million for the pftor ysor 1 "S' BVD CO Die fiscal year to March XI net $34 mlllloa or $140 on net sales of $404 mil-Hon compared with $34 million or $147 on net sales of $354 million for the year earlier DAYOO Corp six months to April 30 bet $21 million -or $141 on net sales of $39 million against $17 million or $L31on net aale of $33J mllllon THOROFARE Harketa Du nine months to May 2 net $14 milllpn' or $L14 on cales of $1091 mlllka against- $8B4Q2 or 77 centsiion sales of $1071 million -ZAYRE OORP and all subsidiaries 52 werin to -April 25 net $14 mmion or 82 i cents against $11 milllcn or 07 cants for the year earlier Sales rose to $1294 million from $1014 million' HAWThbiiN-Mellody Die fiscal ysar to March 31 net $2 million or $2 on net sales-of $721 million against $L7 million or $L70 on net sales of $004 million -t- ASSOCIATED Baby' Services Du -year to April 2S net $332499 or 54 cents on sales of $124 million compared with $283444 or 49 cents on sates of $114 million' VV- REAL' ESTATE Invotment Trust Of 'America six months to May 31 net $749410 or 56 cento on arena receipts of $27 millioa against $733433 or 57 costs on gross receipts of $24 million for the year earfier period DBTILLERSCURP Seagrams Ltd and an subsidiaries 5 net $234 mlUloa or- $342 on sales -bf $6914 mMon against $234 million or $212 on isles of $6584 milUon fo the year earlier period (Net profit indndes that of Joeeph Seagram A SanA Inc wholly-owned U4 aubekdary of Distillers Seagrams which earaed $13 mUlloa in the 1964 nine months egninet $121 million year earlier BOND STORES Inc nine months to April 30 net $L5 million or 91 -cento against 814 mOUan or tt cents to the year earfier period- WEBB A KNAPP Webb fo Knapp la scheduled to buy the 33-stay Paramount Building at New York Times Square eliminate the Paramount Theatre and replace It with an exhibit hall and additional office apace William Zeckendorf Sr chairman of Webb A Knapp said the firm has i contract -to take title to the building on Sept 4 The cast Jo more than (10 mfllioci it ties re- ported An official of Paramount Pictures Carp confirmed a contract to sell the building had been signed A deposit of $3)0-000 was made GENERAL ANIUNE The effort to toll its 03 per cent Interest in Acquisitions NEW YORK 01 Beneficial Conatniction Outlay Up 10 Per Cent In May' WASHINGTON tfl Sperufing in May for new construction wu 10 per cent above tte level at a ago the Census Bureau tonated pending totaled $57 bflUoa toe the moafo virtoeRy u- changed frtxn April alter ueso-'-i'S ml adjustment pending ftr-reejdentiel building wu 6 per cent above May 1963 Outlays in the first five montiia totaled $244 MBiou- compered to $214 bOHrn in foe Jsnuary-Hay period of 1963 an Increase of 11 per cent Thtol private construction fir the five months was 19 per cent higher-SV ttan last year and totaled $174 bDlion Nonfarm residential building was 9 percent higher i Ey HAM DAWSON AP Badness News Aariyst NEW- YORK (AP) Rising metal prices reflect both the in-creaking industrial demand and higher production costs So far little at the rise has been paaaed along to tte consumer Blanu-tocturers have teen able to lower tte labor cost per unit of output- -1 Thns baalc ccrnmodlty price mareuaes In themertvea- aecessarily spell general inflation' 1' Involved have beer steel aluminum copper zinc' lead tin The creeping advance has keen stretched over the last 12 months: At first the increases were on elected products in active demand Weakness in other products hie brought price cute But basic metal prices are sow beginning to rue Latest are aluminum ingots which are going up half a cent to 24 cento a pound or hade to where they were in December 1962 but etiH dmrt of the 26 cento a pound of September MIL Tte cautious approach in aluminum- and some- other metals has been dictated by competition 'both at home and abroad Many metal producers have indicated no hurry to cripple demand by pricing their products higher than the substitutes which increasingly plague them Technological advances have brought Individual metals in competition with each other for particular uses Price often can be the determining factor with purchasing agents Metals also have had rough going In recent years as their markets were invaded by plastics glass concrete and Metals are peculiarly tied to developments in foreign lands Sometimes tide is aurpiu capacity to produce so that foreign output rises automatically with world demand leaving American producers right where they were competitively Often cheaper production costs abroad threaten American metal price structures And markets can be thrown into turmoil fay political actions in other lands Sometimes this takes tiie form at appropriation at American investments in mines smelters or refineries At times another government tries to boost the price by withholding supplies or to take political revenge by dumping Strikes at home or abroad and higher wage scales can throw world production schedules and costs out of kilter MW mdsmertl pytilad me i'H AJ-W Al CHRVSLER SB t-S CHRYSLER CORPORATION EXCLUSIVE: Your Mohey 9s Worth Teem In Pay Law Finance Co has acquired 94 per cent of outstanding common ftock of Thrift and Investment Co of Montreal Under a purchase offer made Hay 19 the finance company said NATIONAL LINEN Service Corp has entered negotiations far the acquisition of Atlanta Envelope Co and its awodated companies Milton Weinstein president told Dow Jones Atlanta Envelope with sales of approximately $8 million in the fiscal year ended March SL operates five' envelope mannfoe-ftn-ing plants in the and a polyethelene packaging plant In -Tampa' No-Cal Sets Campaign Qn Figures Fashions A Joint newspaper-advertising promotion- campaign emphari fag figures and fashions in summer sportswear will be cospon- sored by NoGU Beverage manufacturers af nonfattening soft drinks: and -file Mary's Itorts it was announced today Vy The cam- palgn wDT be- cdnducted during the period of June 34 to' July 1 via full-page advertisements in the -New York-Long Itland- Weatcheater newspapers In addition The elght stores in the -metropoUtin' area will feature No-Cal beverages in interior and window displays The promotion ckmpialgn wlll at- dude displays of the varied-fla vored No-Cal soft drinks in con- function with sports toggery and ip mm Saxon Allowing Banks To Aid Poverty Drive WASHINGTON HI Comptroller of the Currency Junes Saxos relaxed the rules pep mit national banks to Invest in local industrial development corporations A statement by Saxon laid the first community affected would be Fnintovflle Ky which wu vlrtted by Prwktait Jrtmsoa on a reseat tour of the Appalachian region National bank) wffl be petmlt-ted to invest in business development corporations which are too man to qualify ns federally approved small business invest-ment -companies The two national banks In PalntsvlDe will help provide financing for a weaving mm which is expected to provide new Jobs The development corporation tan may givie ewneial assistance for expanetea of an existing business if the expansion would provide additional Jobs Rather the laei target Is tte enqrioyer who is dinging to archaic double pay standard perpetuating inequities which are tadefcnalMe at this date la the 20th century Specifically foe law does not regulate hiring and firing practices and if an employer chooses to fire an the women in hie company only foe peemnes of puhile opinion a labor union bin own mu ad woman power need! and bin own conscience could bargain agafaut such tactics The law does not ride against pay differences for men and women for reasons other then sex such aa established seniority and merit systems where years on tte Job quantity and quality of production are the measures of extra wages' As an flhwtntian' allows higher pay for men doing' tte assembly Vliae Job as if the men must lift the pro-dnet at foe egdtaf the Hiie law does not prohibit special wage "bonuses" on grounds other sex such as tte-exfra pay same companies grant to aH ions and daughters at existing employes who come to wprk Net AD Oevoroi The law does not apply to an women workers although millions of additional women-Jobholders eventually may fed the benefits as" result of competi five Mriiw conditions Out of 25 million of ns is tha labor fixes toctey this law Involves only about 74 millioa emdoyed in approximately LI mQlioa dlfr ferapt estobushmenti Exdudad are all executive afoninistra-five and professional women and milDoas of workers for companies not engaged In Interstate enmerce: A an engdoyer you out get an Interpretative Bulletin explaining tte' law in- detail fram any at more than 300 Wage A Hour Division field offices This wffl help yott avoid violating for 'There also wu' be vidatioiis artertg'fromi what-Lundqtdst calls dMerwncee to in-terpretation aid oniakB'aad diflerences ne says the meat dlicassr as they arlae and will rUtecn' if necessary There vein be no objections -ft qtourinds for pay differences But Lundquist pledge apposition Vto vpisy differences which are frivnous or created Just toe toede-'foe JawiT snd sa all-out fight against "outright evasion or obvious chicanery" rTEqusl Pay" to at-bat tte law oC tte laai IttlS te en INDIA LOAN The International Development Asaodrikm extended the equivalent of $90 million hi interest-free credit to India for a term of SO years Most of the credit $75 million worth will enable capital-goods Industries to increase -their Imports parts and materials ELECRICZrr EJectridty power output at 17-834)00000 Mi la fin wedc ended Jane 9 wu 2 7-19 per cent above the 17368000000 in -the like 1963 week the Edison Electric Institute said In the week ended May 30 output 17r 734OOOWkwh '-S 'v i West Europe Having Kurd iTUne Bank Says BASEL SwiizerisndlD -The Bank for-'Intsmatioiial Setfie-ments condaded fat its 34th annual report that the mala economic trouble spots now have shlftedfrom the United States to Westers Europe The bank npraentlnt 29 ces-tnl banka and hapMng gmq painted 'a bright economic picture of United -States and Brttaliu But it said the West Eu-ropeanacoaomicsoeiie Is bejni ptaguefi by risihg am I oaringlmportB i the erinortile1 state of -eastern Europe fiw repartsald'that with the- cneptiou of Poland the growth rate of national income plamisd-tay gets In (todmilovakla is- dined -i-v rv vaniwMs jtif 1i iJ A Five NBW Officers At Banking School r- Five cdfioers from National Bank of Westchester are atteud-ingthe Staler pwiuate School of Banking at'Rutgers Univer sHy through June 19 They are Frank Holahas vice presldent oan tration Robert TMano assistant cashier- and mansgo- of NBW North -Brofrtway office In White Plains George Wedey vice president -WilBam-Bogar-dus vice pmkleBt loan ad-mbdstretiaa-and Oscar Nittd vice president and controller 1 Clupter 'i To Receive CLarter The vTappan Zee'- Chapterof the'Amerioanlnstltuteofliir dostrlal Eagiaeers will- receive fie charter from the parent or MiantioHA next Wedseeday at mei General Floods Technical Chater on aLBroadway rr- Membere win hear an addretf by Mltchefi Frtn ou productive restraints elect officers asd welcome: new membaraL' -1 4 Italy umrswageUxes ROME (DJ) Italtae Prime Ministers Sigaor Aldo More asi nouncedthe to peg wage increases fids yesrto a mudmumuC 12 -to 13 per cenUTW was theoolyway to everoome the eco-aomid dUflcUMea he said in a major pollqr speech to tha sea-atoUstryesr wagea rose hy about ffiier cent Bjr SYLVIA PORTER sesed Of Tire Catamu When tiie new pay for equal law goes into effect acroas the natirai tornqfrow many employers wlH be ready with ingmions Subterfuges to evade its simple requirement that employers pay women the ame wages they pay when equal skill effort nhd re-aponsfidlity are involved in Job-: Altiiough' tivey have no convincing ntetintlcs to back them up certain companies "which have opposed the law from file Mart insist it will boost payrol by miflions- ofdoOars force them to hire only riied from now eta1 ar-to fircLWoroen now working Anticipated: to evade the Jaw iadude Jugrtteg Job ttt-" lea to make it appear tint men and women employes will carry unequal reepouslhflitlesi movlng men orwoneatollfferent within com-pnnytomeetthe provision that the earns pay must be granted fTn the same even: Imposing outiand-ish standards than sex" to Justify unequal pay for the aame wark 'v 1 i How- can- you a responsible employer ten exactly jrscticee will be tewuT How hroad'wU! the scope' be? How-wiU -thd U4-government go about enforcing the equal pay statute? i 'tvv The Wage A Hour TMvlaioe of the Labor Department" will administer the- equal: pay law enforce it the investigators in fleld tnd re-gtoual rtflces throughout Jhe country The offices sre set vp to make-' 50409 hrmectionaf a year wherever A vvkdstioa of any provisloir of the Fstr'Labor Standards which 9osf in-dudes the equal pay law ti uqecte(L- £hnployes may fite complalnto through these floesV sy V-B a violation is ftMsdthe employer Invpived-srill boars' qureted iby fiw Xabor Depart-ment to ctongt -his prsctlcei and pay back wages- due If ha refuses he may be caned into court sqed by the TJJS govetM Far nvn RlgM- -l vi! sjtf The alghiflcsstMlntte that aa tte law stands todayUJ 1s tor frrtn rigid snfi its coverage i nmitedVsvi The lawv and enforcement aimed at the bulk of U4) industry which says wags A Hour Admlnlstra-tor Oareacs LundquUt Vtes HBtrS' HOW STRONG WARRANTY PROTICTS YOU Ctwystor CwTdntiow wernmti ior: 5 iners or 56UB6D 1 Financial Writers Give Sdiolarehipa YORK Rank Lo-pec of West Edmeetod NYa New York University sophomore and Alvin Lipohifz Albany -a Long Island University Sophomore were announced as flnt redplents of one-year Web larsMpa for journalism majors awarded by the- New York Ft aaadU Writers: Assorts tlonv Lo-pes and Lipshits were dmen by their respective schools -i Capital 'Imposed ByiJiraeliv j-i JERUSALEM RI Artipiiid Jklns tax of 20 per (Cent on sees-rltiee sold withln one year rt purchase went into rtfect in Is-taelyesterdayNoFtaxwaa levied on securities held for more than 'u i Finance Minister Flnhu Saptr said the tax wffl not appbrto foreign zentdentto' '-'vThe mtnlstfr reid the nenauiy may also propose a tax on fin purchase of luxury flats-And on wtiicbever-comes first again dsfscts ln matsdsis and wgrkmenihip and rill replace at repair at a Chrysler Motmf CArptaatiort Mhortasd DuInV ptoce sf busliws ths angina Mock h(i nd intomaLparto-Intate nuifoid wntot pumpw tnraifiluion chi and Jntamal parts (mclud- oil chained every I months or 4J060 miles wWchswr cornu first ths ell filter replaced every second dichangsind flii carburetor sir filter rissnsd every I morifog and rsptacsd svsry 2 yurA andsvyry 6 months fumlshuto sucha daatat evidence pf performnnee of the requited service arid quuta the dutor to certify 0) receipt of kuch evidence and (2) the then eunsnt miteeuH owner hu ftsangfaw it Ing rnsmai -dutch) torque eonvwtor drive shaft unbend JolntfcisxaxtenMdiffsreiiistsndiurwhsslburlngeqf JoTntfoiesrrttteMd! -fXr LOTS GOOD LATE-MODEL1 USED CARS-TOO! WF351PSY6 3' MINIMUM OIOIR i Til It FILL OR SALE e'vSOIL CO ftlftdoW 8-5S19 4 sea nimitsincn Meant csavma-ioaMtTucKS.