Galesburg Register-Mail from Galesburg, Illinois on July 28, 1973 · Page 22
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Galesburg Register-Mail from Galesburg, Illinois · Page 22

Galesburg, Illinois
Issue Date:
Saturday, July 28, 1973
Page 22
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§ Aft •• POPE Writer Will get sorrte more," he said. 'It's relatively easy to remodel A|4 gds statiori in a good location Shops or the better Isize, is (into a donut shop. It's the right the ptoper parking locations given up by gasoline facilities and isn't too fancy, tiHttd out of business mt too much to rip out^Niglio the iad diortaffe. said. "In most cases, the cases, landowner is left holding the bag when a station closes. The landowner an attractive deal and find a franchisee to operate the donut shop.*' Neighborhood Banks Wanted Switching the three shops from and cake to tiny checks and selling cashing loans has a more subtle and varied rationale. President Alfred Brittain III of Bankers Trust said the bank has discovered that people to home. It's to And the prestigious Bankers stati *n operator usuany ; » a trust Co. in New York has put mechanic who doesn't have too three minibranches in tiny ™ ch tr °"We finding a job in* shops abandoned by the Ebgin* & T *&> We can make the | increasingly want to bank close ger bakery chain in Brooklyn. All of which seems to bell proof of that' old «nel i 'bttsiness's necessary provide these services even in neighborhoods that won't support a full-sized metropolitan branch with 14 or more employes. The haw four or five, and Bankers Trust has opened other mini* branches aside from the three in the abandoned bakeshops. Fairly complete services are given in the minibranches. tMe of identification cards with the depositor's photograph laminat- ed in them makes this possible. jWinokjif, came to International iSven personal loans can arranged in the mini Neighborhood business men can be apply for commercial loans there even though the applica tions must be processed in a igger branch. Bankers Trust said crime in the streets is one reason people want to bank ever closer to home. Mister Donut's Niglio, who took over as head of the company from founder Harry Mu 11ifood Is from Kentucky fried Chicken Corp. Mis aim is to build Mister Donut from its present 400 shops to 1,500. Franchise Fee Slashed Niglio's first step toward expansion was to slash Mister Donut's basic initial franchise fee from $15,000 to $2,500 for existing franchise holders who want to open additional shops and to $3,500 for a person opening his first Mister Donut (i means I'm going out for the pro who wants to own than the Pop'n Mom operation was young," he said. It also means > unlike many other franchising outfits, Mister Damt is not yet seriously interested in biiiying back successful franehised We will be ICI CMAM SOCIAL Dbnitlert—Me — rf" , _ *. -i " r Wall grief By LEE MITGANG UPI Business Writer NEW YORK (UPI) - Wall saw: one is usually another's good fortune. Richard A. Niglio, the former alMvy League halfback at Yale who heads the Mister Donut n division of International Multi- Street got high on good earn foods Corp., saw the opportune ings and increased dividends ty to get choice locations for and enjoyed its longest rally in franchisees when the fuel over two years on the New shortage closed gas stations. York Stock Exchange - nine "We obtained a dozen of consecutive days ending Thurs- 4 • Street Found v these locations and probably day. V Market Reports Chicago Grain Rang* Week on Wall Street CHICAGO (UPI)— Wheat and (Sim were substantially higher, oats irregularly higher and soybeans mixed thig week on the Board of Trade. Wheat was up 27 to 43% cents; corn up 6 to 21Vs; oats up % to 6%, and soybeans off 23 to up 40. Dew Jonas Averages NEW YORK (UPI) - Weekly Dow Jones averages, including intra-day highs and lows: Open High Low Close 30 ind 913.91 944.08 903.67 936.71 20 tran 164.81169.14162.29166.74 IS util 101.39103.24100.17100.56 65 stk9 278.18 286.01275.07 282.82 Net changes: Industrials up 25.81; transportations up 2.55; utilities off 0.83; stocks up 5.44. The Dow Jones industrial average did even better, extending its gaining streak to 10 sessions by Friday. The index of 30 blue chips rose 25.81 to 936.71, following a 24.21 point climb ithe previous week. Standard & Poor's 500 stock index added 2.38 to 109.52, The NYSE index shot up 1.17 to 58.36. Much of the list participated in the rise, with 1,064 gainers, 737 losers, out of 1,985 issues traded. Activity continued at a brisk pace, totaling 85,402,580 shares tor te, compared ,* SSf ! S° ' »<* Wle money." 76,257,100 the previous year. More Action? Observers Amazed Even with the incredible number of increased dividend actions, and sky-faiglh earnings, many observers still amazed at the breadth, resili- interested in securities than he ency and staying power of the has all year - but he's not in rally, There was little doubt "with both feet/' Not yet. the mutual funds lartd pension funds — the so-called institu- Unr ^, T ^ vU ^™ «r w„ic#«« tional traders - finally had, La ^^ ur °^ Wal ^ n ventured from the sideltaes to *£; *!g& 7Zt^ do same bai«ain-hurrting ^^y,^^^^^ months of atetinence. As eco- ^^^^^SM nomic consultant Robert John- SSL J^w ?nSL S£f «<TTh« t^A* o « Cooper of w.E. Button agreed. more or ^ omr ^ fa e market among our clients. Don't ask me why." But analysts also agreed the All of which failed to explain stock market had a long way to w ^ inve stors suddenly would go brfore it could again be \t% S £? f™™^ "^ft-* , « 6 * "„ the flood oif earnings and divi- considened a "public market." etafe, ^ ter Wall Street had were]The lit/tie guy appeared more largely ignored the first quar- r ter results three mlonths earlier. Monte Gordon of Dreyfus Corp. suggested while the market's atmosphere is by no means trouble-fee, the pitfalls at l6ast are clearer. units. because that long-term profit," Niglio said, "but for the present we are more interested in growing." International Multifoods has QUALITY PRECAST CONCRETE F I, Manufactured In Galesburg around $200 million a year in sales. It handles a variety of packaged foods. Modern Concrete OTO»1(O0Tflt rot 0010 ave some definitions now," he said. 1 market is pretty sure the fed will remain restrictive, interest rates will go higher, inflation will persist." International Telephone Telegraph Corp. was the week's volume leader, gaining 1% to 34 on 790,300 shares. Canadian Made Urns and Pats Available on Special Order h r Call for Garden Designing- Make an Appointment Today. Your Sewer Charg 343 Phone 3424430 GUARANTEED WORK GALESBURG CONCRETE MATERIAL 1050 Monmouth Blvd. Ph. 343-3181 r * 1 T Administration, "C ongress Interested Tighter Future s Trading Rules FOR SALE NEW SCHWINN VARSITY Boys 10-Spetd Bike Call after 3:30 PM 342-7640 In By BERNARD BRENNER Jmands for tighter protection The against price manipulation and dorsed uncontrolled UPI Farm Editor WASHINGTON (UPI) Both the administration and Congress are showing growing interest these days in tighter regulation of commodity futures trading. On The Farm Front sure that bro- h 1 k GALESBURG GRAIN MARKET Consumer Grain & Supply Co, Market may either go up, or down v,-; by 1:30 p.m. when final bid arrives. 11:30 o'clock bid. Corn $2.40 New Corn $2.22/ Oats - .97 Beans (old) $8.60 New $6.90 Banks Increase The Agriculture Department's Commodity Exchange Authority, itself the target of charges that it has failed to adequately police the frantic market conditions of recent months, moved recently to demand more self- policing by commodity exchanges. On Capitol Hill, meanwhile, there have been a series of de- tive action prevention recommendation, en- As for the CEA, Fortes blunt- i ii t, by . Smith ' ™ e i om ly sai <* ^ did a good job in mat- speculation both Harry Fortes, a veteran Chica- f _ rc «. mQlrSn „ by the CEA and the exchanges, go attorney and commodity f maKin S Both houses of Congress, for market specialist who long had kers «,np* misuse customers example, have voted to boost ah insider's view as a former funds, but "it has been woeful- the CEA budget—although the vice president of the Chicago ly lacking in decisive and effec- administration didn't ask for ex- Mercantile Exchange. tra money-in order to hire Fortes charged that consumer manipulations more regulatory specialists. food bills were inflated by hun- P Thursday a subcommittee dreds of millions of dollars this headed by Rep. Neal Smith, D- year because "manipulative" trading drove soybean prices $5 of its investigation into graui or $6 per bushel beyond the lev- trading and transportation, e i justified by supply-demand was told the CEA should be re- conditions, placed by a tough, sophisticate Things iike this can happen, ed new regulatory group able Fortes charged, because neither and willing to crack down on exc h a nge officials conflict of interest and manipu- FOR SALE 3 BEDROOM RANCH STYLE HOME IN ABINGDON • 1 Brick front, garage, large shady lot. $20,000. Shown by appointment. Ph. 462-2028 EVENING AUCTION 640 North Prairie, Galesburg, Illinois TUESDAY, AUGUST 7 5:00 P.M. w . F Some antiques; furniture; lamps; toys; games; hobby Hems; office items; small appliances; miscellaneous. Full list Friday, August 3. MRS. SHARVY G. UMBECK, Owner SIMPSON'S AUCTION. SERVICE ALEXIS — Phono 482-3266 WATCH for the BOUNTY HUT lation in futures markets. Interest Rate For 11th Time NEW YORK (UPI) Major banks lifted the prime interest rate Friday from 8 1-2 to 8 3-4 per cent; ;lt was the 11th increase this year in the rate which leading businesses pay for loans. The increase was led off by First National City - Bank of New York. Bankers Trust and Marine Midland Bank, Chemical Bank, both of New York; Girard Trust, Philadelphia National and First Pennsylvania Bank, all of Philadelphia; First National Bank and Mercantile Trust Co., both of St Louis; Harris Trust & Savings Bank, Chicago; and The National City Bank of Cleveland also raised their rates. All-Time High Bank of England Ups Lending Rate LONDON (UPI) —Th!e Bank |unchanged from its 2.3032 close of England raised its minimum the day before. Membership of the Mormon Church, 3.2 million in 1973, is projected io reach 6 million by 1982. YARD SALE 744 JEFFERSON MONDAY, July 30th 10 A.M. to ft P.M. Plenty of clothing, misc., also 1964 Chevy rough, but runs good, Avon bottles, pots and pans, dishes, too many items too numerous to mention. lending rate to the highest level in history Friday and intervened in the market to bolster the weakened British pound. The dollar, meanwhile, gained across Europe. The ifinancilal moves by the Bank of England included a 2.5 per cent boost in the minimum lending rate, the new form of the bank rate. It raised the all-time The dollar climbed in Paris to 4.105 francs for *he financial dollar tourists use, compared with Thursday's close of 4.05 frames. In Zurich, the American currency rose to 2.8050 Swiss francs, up from 2.7895 Thursday. The dollar also rose in the three Scandinavian markets, in Brussels and in Amsterdam. in many cases nor the CEA have taken a tough stand against manipulation of markets by powerful trading firms. "Unfortunately, for ,many years boards of trade considered themselves private clubs for the sole use and benefit of it FOR SALE VEGETABLES 2 Bllci. South of Hendricks Funeral Horn. In Oneida. 483-8124 Sale • • • i East Fremont Road — 342-1416 Bonded For Your Protection h r 1973 their members Fortes Galesburg Refrigeration • and Conditioning Brooks Phone 342-3479 said. He charged the governing bodies of these boards "are in almost all instances individuals and members of firms who are directly involved "in market situations, and make decisions wherein their own financial interests are involved/' lending rate to ian record level of 11.5 per* cent in a bid to check inflation at down home. Inflation tends to weaken Gold fell to $117 an ounce^on the London bullion $2.50 for the day, Frankfurt it fell by $2.09 ounce to close at $117.69 ounce. market, In FOR SALE PURL'S, Vz mlU N. ol Abingdon on 41, W«it sldo. SUNDAY and MONDAY Eggs, double bed, youth bed, dresser, new pink bath tub, fruit jars, two new tape players, fancy speakers, antiques. FOR SALE 1,500 lb, and 3,000 lb. round bale carriers, fits all categories, 2-3 point hitches. Phono 875-3358 MAQUON, ILL. FOR SALE a currency Tfye previous record Bank of England rate was 10 per cent, reached briefly in 1914 *t the rv]\f p rn f |t G outbreak of World War I. In the w " x x past two weeks the lending rate SIlOW Rise DETROIT (UPI) has gone up by 4 per cent. The bank also reinforced the lending rate increase by heavi- Gemeral Motors Coq>. made imore money during thfe first GARAGE SALE 766 ARNOLD SATURDAY *nd SUNDAY All Day Air conditioner, oak buffet, clothing, dishes, nic nacs and many misc. items. ly buying pounds in the market. ™£ o 4 ZZ 1 ,u After drifting down to $2.4725, S^£^ Q ^^ otte its lowest level since May, the °SSZoT ** pound sterling moved up to simUar penod ' close at $2.5085, compared with J*$ jounced Friday its nWn qwJi«, J*<> AOAZ profits for «he second quarter the close Thursday of $2.4845. Gold suffered reverses on European bullion miarkets. The West German Central Bank stepped into the money market again JViday to buy dollars. It bought $14 million in a support move for the American currency. In what dealers described as "almost non-existent dealings" typical of a Friday, the dollar closed at 2.3030 marks, almost were $1.6 billion or $5.62 a share, up 18 per cent from last year's $1.37 billion or $4.78 a share. In the first half GM sales totaled $19.2 billion compared with $16.2 billion last year. 1972 2-DR. HARDTOP CAPRICE Power steering, power brakes, AM-FM radio-tape player. Cruis- amatic & air cond, $3,295. Call anytime after 10 A.M. 342-1239. WANTED WAITRESS Apply in person or call for appointment Phone 342-6015 2200 N. Htndenon CLUB 19 HAULING White Rock, Sand Dirt, PURL 2023 By Owner Older 7 room home In Avon. New roof, gas furnace & central air, S. & S's, carpeted living room, birch cupboards, disposal (stove optional) at full house price, garden area and storage ^building on lot, good location, low taxes. Call 465-3480 for appointment h $15,500 ii ^^^^^^^ ft MRS. LANE Palm Reader and Advisor HIRING Sewing Machine Operators & Mechanic Trainee No Experience Needed Air Conditioned Plant Apply at Front Office PR0TEXAU 77 S. Henderson Galesburg, III. 189 N. HENDERSON ST. (Next to S#aBt«dt Realty) 9 a.m. to 9 p .m. If you have any problems MRS. LANE can help you! All readings confidential. For appointments Call 342-6639 Watch for aign \ FOR SALE 1973 LINCOLN CONTINENTAL Door Sedan actual miles. Like TUESDAY •i 20 Hereford Cows 10 Angus Cows 20 Charolais Heifers, ave. 425 lbs. 35 Mixed Steers and Heifers, ave. 475 lbs. 35 Angus Steers and Jfeifers, ave. 500 lbs. 20 Hereford Steers, ave. 550 lbs. 25 Hereford Steers and Heifers, ave. 625 lbs. 30 Holstein Steers, ave. 750 lbs. 20 Mixed Steers, ave. 850 lbs. 150 Mixed Cattle to be Sold in Small Lots 400 Mixed Pigs, 40-90 lbs. Last week our Fat Steer top was $50. per hundred. Heifer top was $49.10, Mkt. 50c-$1.00 higher, Mkt. Cows $33-$37.80, Mkt. Bulls $39.-$44. Feeder Mkt. in the evening sale was very aclivt with Feeder Pigs $3.-$7. higher, Feeder Cattle $2.-$4. higher, Steer Calves $65.-$75.30, Heifer Calves $5M65.40, FAT CATTLE SALE 9 AM GENERAL SALE MORE CATTLE & HOGS BY SALE TIME Feeder Cattle for Private Sale Daily Up Until Sale Time REPRESENTATIVES: John Walters -1 Richard Anderson Robert Lindsey, To Martin M. Swanso William Reynolds Kilcoin and Carl Steck — Auctioneers You work hard enough to grow it, cutting it should Jbe a breeze. new sharp color, accessories. power Phone 342-0024 READ THE WANT ADS! ATTENTION FARMERS f FREE Removal of DEAD STOCK Phone 937-2112 or 937-2218 SCHNOWSKE BY-PRODUCTS Cambridge, III. 61238 TO SETTLE ESTATE 3 Lots, Cabin and Boathouse, 150 ft, River Frontage - In Oquawka Hillview Stables — Approximately 10 Acres 1800 WEST MAIN, GALESBURG 1962 Imperial -- Good Demolition Car High Wooden Wheel Wagon Running Gear, Like New Phone 309.867-3751 There's a lot of pride in owning a piece of land. There's also a v lot of work. And before you realize it, here's another crop of grass. That's why we put our heavy-duty tractor to work on the grass. The International Cub® 154 Lp-Boy tractor goes wherever there's a full day's work to ( be done, Other IH lawn and garden tractors from 7 to 14 hp. International® Cub 154 Lo»Boy, ^ Stands only 49" high, Hugs hills and embankments, Big IH head engine provides speeds up to 9 mph Hydraulic lift is standard, • 1 Garaat., Pofio, Driveway, Basement, Front Room, type must be in our office by noon the day before Frivote Household Sole* and all other sales of this ad is to be published- r GALKPURG REGISTER-MAIL ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ when you wont CONCRETE our convenient CUSTOM CONCRETE-MOBILE BOYD HUNT TOOL AUCTION Sunday 1257 /.-.ONROe STREET 29th oispur AOV, Phone 343^7181 the right mix for your job ... any quantity — large or small you pay for what you use . . . all deliveries are metered delivered any place ... any time . . . tor your convenience. M08IU CONCRETE As we ar« moving to California, Corbin's will sell xny tools as follows: Large and smaJl vises, Delia Table Saw and stand witl| large heavy duty motor & tilting table, 30" cut, yard tools, strawberry boxes and carriers, extra Jarge selection of every imaginable kind of wrench, hammers, saws, blow torches, levels, paint brushes, screw drivers, electric drills, files, stepladders, 1 stainless steel tank, approx. 4'x4\ 20" 2-speed large pedestal fan, all kinds of shovels, spades, blow torches, paint brush & shop supplies, several fish rods and reels, so many tools it is impossible to list them all including wood & steel posts and wood. ANTIQUES AND MISC.: Platform scale, Antique pie safe, heating stove, kero lamp, lantern, powder horn, feather tick, wooden boxes, Dayton scale, RCA-Victor portable set (needs repair), some oJd books, several storage cabinets, tape dispensers, some like new trousers, and lots of other merchandise not listed. WESTBAY EQUIPMENT Phone 309-342-8112 Knoxville Road Galesburg, International Harvester Sales & Service 1^ MR. AND MRS. BOYD ™„„ C 9^.?H' 5 AUCTION SERVICE COOK ana WOODS—Auctioneers Owners Any woy yow cut it. International Harvesre - Phone 343-9033 DELENE COOK Clerk Read Want Ads t i t { I

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