The Commercial Appeal from Memphis, Tennessee • 53

THE COMMERCIAL APPEAL MEMPHIS THURSDAY MORNING APRIL 80 1970 54 i in Stocks Enjoy Best Day In Month Advances outnumbered de-l Airlines oils rails chemi-dines by 906 to 487 with 232 1 cals steels motors rubber Is-stocks unchanged This was sues mail order-retail and the first time in 20 sessions electronics ended up Aircraft that advances outnumbered and utilities were mixed Corporate Comer stock Exchange moved up- EVg Industrial Park Developers cto Are Alerted To Restrictions year price-change index closed up 28 at 2203 Volume was 567 declines There were 454 new lows for the yesr and 2 new highs Volume was 1580 million up from Tuesday's 1262 million The New York Stock Exchange tape was three minutes late at the closing bell million shares heaviest since Dec 31 when more than 11 By DAVID BURKE NEW YORK April 29 -(AP) The stock market swung sharply higher Wednesday in its best session in more than a month The Dow Jones average of 30 industrials closed up 1306 at 73739 This represented the largest single day gain since March 25 when the Dow average jumped 1637 to 79013 During five previous sessions the Dow average had lost about 53 points and Tuesday had reached Its lowest closing level since President Kennedy was assassinated Nov 22 1963 when the average closed at 71149 The New York Stock Exchange's index of some 1200 common stocks closed up 090 at 4498 The Associated Press 60-stock average ended up 36 at 2585 with industrials up 82 rails up I and utilities up 36 Standard ft Poor's 500-stock index closed up 154 at 8181 By LINDLEY RICHERT leading spokesman in the field told Industrial park developers meeting in Memphis yesterday that they seen anything yet" in the way of Increasing restrictions Robert Franklin of Newark NJ speaking to the fint annual workshop of the National Association of Industrial Parks to be held here predicted tighter controls particularly on pollution and beautification standards There Secondly he said Cotton Comment Research And Promotion Proposal Dropped From Cotton Premium Micronaire To Be Loan Base By GERALD LDEARING THE USDA HAS WON TWO MORE concessions from the Cotton Subcommittee of the House Agriculture Committee even the victory may be reversed at a later date The subcommittee yesterday accepted the USDA demand that the research and promotion feature of the bill be eliminated This was a provision that would have had the USDA collect 3 to 5 per cent of the payments to the farmer for research and promotion Originally It had been proposed that the money come from USDA funds and not from the farmer The proposal should be restored in one form or another in order that effective means can be found to develop new uses for cotton new and better growth practices and improved promotion of cotton and cotton products The Cotton Board and the Cotton Producers Institute have done much with the limited funds they have The subcommittee also agreed to fix the loan at 90 per cent of the world price with that price representing Middling 1 inch cotton at average location 3S-49 micronaire The committee had resisted this change which has the effect of lowering the price to the farmer by 45 points The CCC resale rate was fixed at 110 per cent of the loan plus reasonable carrying charges instead of the full carrying charges Fully carrying charges would have locked the cotton In the loan THERE WAS NO AGREEMENT ON the number of acres the USDA would support with production payments It originally said the figure would be 111 million acres Then it said that the allotments would be 111 million and the acreage eligible to be planted and supported would be 103 million acres A delegation from the committee is preparing to talk with the USDA In an effort to resolve the argument by Thursday of next week when the subcommittee expects to finish writing a cotton program In order to have it available for the full committee on May 11 when hearings on the complete bill will be resumed The rally represented a re- million shares changed hands Tuesday's volume was 463 million Corporate bonds closed lower and government brads closed slightly higher 8 Decline Tuesday Affects European Stocks LONDON April 29 (AP) Stock prices declined on European markets Wednesday in response to the sharp retreat Tuesday on Wall Street But trading In several European centers was light to average and brokers saw little cause for alarm covery from midsession selling wave that sent the Dow average about 4 points below Tuesday's close Analysts said the decline was a panicky reaction to the announcement that the United States was providing advisers and tactical air strikes for South Vietnamese operations in Cambodia The late recovciy Indicated many investors had decided to view the announcement coolly until the President elaborates on its implications Thursday night will be an increasing trend toward centralization of controls" For example in New Jersey the Department of Conservation and Economic Development the development arm of the state has been abolished he said A new division of environmental affairs has been Commodities Bally Cuts Off Early Declines New crop soybeans corn and wheat future declined from 14 to 2 cents a bushel on the Chicago Board of Trade Wednesday but a late rally late In the session heavily trimmed or eliminated the losses Early selling of wheat futures was generally attributed to the outlook for the new crop which one agricultural statistician termed most favorable Later in the session however some concern was expressed over the tight Chica go wheat stocks situation and the firmness of the cash basis and this brought some buying into the May option which closed more than a cent here Rye futures however were mixed in light trade Early selling in the corn pit was attributed to a trade report that Australia may have more grain sorghums for export this year because of an expected record crop Oats futures also weakened but later in the session corn and oats rallied under strong buying that developed short covering Soybean oil and meal futures also came under early liquidation and tended to influence selling In soybeans Meal lost around $250 a ton and oil some 25 points but both recovered near the close Cotton futures No 2 closed unchanged to 50 cents a hale higher yesterday in New York There were 22 May delivery notices issued and they were stopped rather promptly according to dealers Stcndincss in the May position after an initial small declined helped the balance of the market Delays in planting in some sections of the cotton belt contributed to the steadiness in the new crop months A Commodities Dividends LOCAL SECURITIES 7 ltta Ouatattani from Bit AmpcMIm at SeurHta DaoL ari or roarinlQtlva of Intar ark at ppprpghnaMy 4 IntorOaotaf mark! dwnoa thrauptwul day Price do not Includp retail martup markdown or commliilon SANK STOCKS By Ualtod Praai lnHntNnl PorM Aon Pay RocarS Damlar LM AM I Cm bull Ion 7-31 Nil Black A Mil SEMI-ANNUAL INCREASED Fir ((curdy AS 5-14 STOCK CoaituMiM Enf IMpC 44 Kyfno I nfl lac 4-11 LIB InT Indub 4-11 Stock Pulse By Itoitod Praat lotanwAapal NYSE Most Active WAN 171b Cara 200 IN 14 PfO ill in ISM 14 177 AN 40 1 IM INAN 2441 IM Precat J2 SAt 424 IM 446 suii Ksmwmst- Over The G)untcr Treasury Statement WASHINGTON Tht coin patlHsn Vt IM tempered Balooca 4A6S99t22271 S14757AS251 DapoHIt flical year July 16572U32J64W 154AMA12A64U WHbdrawnfi fTical vaarw- IS2HIA7SAtliy 165A2SA2tA1L7i Total debt- 3tA2A127J53A4 364A72A75 7311 Gold 11 A67 AM 271 72 102649761KA0 X- Include 437JHOf71 dibt not ubltct to statutory limit NYSE Index tife" Ohs' MM gj 6694 Industrial Trmaaorlatlon Utility Flnanc J27 All ttockl Index 64 43U44N -fl HOC AlcanAI Data PotoreM Totox Occtdtir AmTAT 4-IS PNBk Ai ilia i IAL At' 4-14 15 744 THE CCC ANNOUNCED THE SALE yesterday of 12936 bales under the NO-C-31 program as the result of bids taken Monday The average price basis Middling 1 inch at average location 35-49 micronaire was 2377 cents The program total is 805237 bales Major buvers were Crump Co 6585 Clinton Mills 2543 Cotton Import-Export Co 1510 FllkdC USl Aora Flow Dynom Alliod Sir Am Brand Anchor Coupllns Ancorp NH Ivc A hoc Dry Coadj Am Smalt Rat Bordan CP Bucyru Erl Carborundum Cp emit AM Cica Carp lumbar I In MtB Chanc A established and the division of economic development placed under the Department of Labor "basically a policing and regulatory group "In addition a new law is before the legislature to give zoning powers to the itate including the determination of critical areas where the state could direct land use" Finally Mr Franklin quoted Senator Henry Jackson (D-Wash) as saying that present land planning policies in this country constitute anarchy" as a result of having 60000 governmental entities with local zoning authority National Factory Locating Service at 5717 Airline Road in Arlington was host to the two-day conference which ended yesterday The host firm is developing the 540-acre Arlington Industrial Center which presently has shout 25 million dollars in construction according to William Brennan president of the firm Merger Called Off Kraftco Corp and Grocery Store Products Co have called off a proposed merger because of objections by the Federal Trade Commission it was learned yesterday Kraftco is represented in Memphis by Its HumKo Products Kraft Foods and Sesltest Foods divisions Purchase Is Agreeable Standard International Corp of Andover Mass has agreed in prindpel to buy two food service equipment firms Mid-South Industries Inc of Laurel Miss a maker of walk-in refrigerators and Mason Candlelight Co of Middlesex Both will be bought for cash and notes It was reported STOCKS BONDS ALOOEX 1JV 141 Am Blom jta AMCON Eauhmtont I a pain of 72 canto In ovprpg prlcp al on NYSE toare NYSE Winners Losers CtoM Cbtoa Bana Yt 104 tlF 52M 44A 130 -HPb 1AMA fLl Bh Ttox Core Dlanay I 4JS Antoaac Jt Taxlnatr JN FaKamJ Nt Cato 15 AAlrPUtAB is: aim ow LOAN ENTRIES WERE 2777 BALES in the week ending April 24 for a season's total of 3697079 bales There were 85607 bales redeemed for a total of 1240363 bales leaving stocks of 2456716 Last year on April 25 stocks were 3536225 bales Amex Most Active Mv VN Ctoop Banw P-S VM Dwt 2S7AN Ita ElOCtr 1SL4N Slta SA74 429 Chatoaa Ind CM Ivc CocoCM Sll LA i Camtar LM ConCI Con Coapor indut Dart indut Dr A Co Dlcky WS Clay Dllllnariam Cp Mraraav Cp Edo Carp Ell Lilly Fptprp Inc Fd-Mo(ul Cp Fltmtap Cp Ford Motor CM Grant Cult Oil Handy A Harman i sir Hants The Cotton Market "Mi Ftd Fmk Can Hlrf Al la fta Ai ItaCorp WS Uto iP Net nvallabto Ll Mill Saxon Induo 154AN ERuPnd A WAN BranittCl A 116AM MltaCararlh NAN AMK Cp W1 SIAM Pour laaww NJN DtolW Boat kiamari Cp 116AM COTTON PRICES ON THE MEMPHIS MARKET 611111 11 25J VI an fir iA ai 1A2 417 Mtiia CLOSP CHANGIj 1544 I 44b 5ta 1146 M'4 M' MEMPHIS COTTON MABKIT (EkdianM Quotation) amatol mark! ctaiod AorH 7 unrlMnacd Purrtiawi V-ttordav Soul 7404 bolt Clara Pea I Laan Top Gain Listed By Tyson's Foods SPRINGDALE Ark April 29 Tyson's Foods Inc reported that sales and earnings for six months ended March 31 represented the best fiscal midyear operating results In the company's 35-year history Sales were $3389058 up 19 per cent from $28441773 last year Net income rose 39 per cent to $935295 from $670396 a year earlier Earning! per share grew 19 per cent to 81 cents from 68 cents after considering a 17 per cent boost in the average number of shares outstanding Directors declared a 10 cents per share dividend payable July 15 to holders of record Julyl Amex Winners Losers Amroilmnt prkn tor cottnn raoartod to pi Comunwr and Markrllnp Snrvle wr auahlw (aual to Uid tod Stain "I jOHIrM Grad pod Stool Standard -2 Ouatollon arp tar mind lot uncom- proned wtoi adlip rtndlno at Ihrauoh 4f to pi ell char- In fT wartMii In Itw marftrt ant kawd on MMMIInp of 2258 emit at April 3 11 Stpnta tonotp Frier WMta 74 Cotton No I July Snyiwont May 'whom July Prk StlllM May Pmfe Sotlici July ive Boot Catll Jun Coroa May Vwll Foot May Potato tlOotm) May Potato (Main) May Suaor No I July Sitvor May Wtuof May Corn May Wool July Aiaa iovutt- tfttiy -p Orona Juica May tl'i 26' 41 lltt ts 4 Of in 1614 isr Wl 742B took Dlv dm Eanta P-l 9T JVM IAN 6 41 Ml HI Htrcultt Inc Haavir Ct Imp trial Scmiii Era iihlman Cp Bailt OM tack 14 HIM 1475 14 ltn lino 117 117 i 1 Malllnckrapt Ch Mpnpawar U40 MPtTpnd CHSIanp 141 McGr 17 Hill Mdutp Parti Mam Cp tu pftmon Mtona 81 -4 4 Alta -AIM I'AT T-199C (Cenli Lb!) Nta Ita Nta 6ta IM 44 Nta 44b 54ta 44 Nta 4ta 2146 4ta 2m tta 3Mb -f At A Glance NEW YORK April Markets at a glance at the dose on Wednesday: Sharply higher in heavy trading Steady US Government Higher in moderate trading American Higher in active trading 31 Cam 9 Altai III22A 474 41 13 fe? 4-ii 4-14 4-15 17 Lavltz Pure miim Etoctr Wan Labr Autom Data IS 14 31-32 1 1-37 1114 I HI lit Grains STRICT MIDDLING IT art art on ltsan 37 nn 344 an SUM MIDDLING PLUS IW ttt Maff Man 1M an AorH 1 IAPJ jjJJitM £3 -IM 7775 775 PI prlca to aornlnit ytoM Pat Paflclt Mk-ylaM In itacR J( CHirAGO VvUQIIntly i Opm HIpB Low Ctao Pv CL WHEAT May l-sr-a i so Jut 147' i41'4 1411 Sop 144' 44 1 1 IBta j41 144H Mlln Labs Min nm ora PAL Missouri utils Matiaaca Indut 'Plnktrtan'i Inc 'SlPatt Indut I'Jg Praway Inc AlglT I Can Trdra Group Ml Un Camp aarnlnpa Iptaat Hmwnth kiwudttaa isi'u ltr Dor 1 40i j49 141' 111 til' 1S-14 ji-a 11:72 ii" sMS JNta i4M 144 141 152 MM ss May 1 Jr 124 i IS Jp 1175 GM I Sm MIDDLING ITS att naff ft Dor i If 171 rr 1M 171' Lint li 7T Pi 1ttt OATS AT M't Alta AP 47 AS AT' All Al Alta Al' AS a A4i M' Great idea from Leader Federal iJ!" 'WMTtaMut SB SB if'Wlyni MfB Dow Jones 1S-2 It tram 15516 154U JlS 15 Utllt 18A14 M957 I0tfi 10167 Jlpek 7J751 24446 21712 24LI4 Trummcfiani to Stacki ined In 1 llt idmTnftchanod 40 bonds MAI -411 lit rallt UM 14 6104-007 aw 115 AS1 Alta A4V STRICT LOW MIDDLING PLUS S3 Evan IBPiii lor 112 1 J4 sa De Mar May DC 114 1J7 10' lllta I1S 1 1 M'i 110 1150 RYE 1W 147 ilO'w 1-0 117 111' IJJ14 ilSto SOVIEANS 14' 1 IP m3 OM Ytltow STRICT LOW MIDDLING I Ml I Ml I Mt Jut Ana 1 IM 141 51 143 lAta iM'l 47' 14ft1 1 43 IMta S' M'l M'h pGUbiCr lso iMS'sSs 1 39 fen flW 24 'OV8T094 13433 -f 304b UPT Nov Jan 74' il 61' us LOW MIDOLING PLUS 2-44' 21 ifw issiiHi 16M SI-SI is i 1 i HI 2A4ta'f 1117 lOM'f 1071 1 11 952 l'a MUCH 110) titMd Of Indicator Cloalna nat prlca cnang or ail ntu ittocki IrtOaO computod By QuMran Sarvlca waa up 157 (an and 27-IOOtot aa null 11 10 i075 10M 13 May Jul Aua Stp net Dre Jon 1100 llA 1014 M71 1017 M47 10 4 14 104 100 101 10 0 75 lt 40 67 50 56 par can!) tram prtviaua day'a cl si April I IN pricaa aa a IN flw Indlcalsr ctaaad Wadnatdpy al NEW YOBK COTTON Inch and Hataantk Cantract feSb S4sl Uitop bath 520b LOW MIDDLING SbVBEAN MEAL 74 50 7450 771 SharVatymi 7470 74' HI 741 11 J' JiH 2570b ILUb 2tJ0b I jfl 714 7325 72) 71 ptl tf0al 410 445 75 ISO 1AMAM SA700N 1110AN IS HO 000 70b I Advene SK5d 3S nioa 2oa 1630b 26M 2650b 417 1A25 2651 26AI '71 24 Mb I July'71 ltSOa K3: Dac Jnn Mar Jim Aup Or7 Doc 74M 7475 74 00 7401 7710 71fl 7000 7025 640 6060 650 67 50 70 40 70 40 4770 4770 P7B40 SlBlBXA SOU 30 2074 1175 10 2 S8M Sal S'S Mia! Anorpoimota prlca tor rattan reported Comumar and Morkannp Strvlra Uu aim i ar ouolilioi oauol to United State SS 3 ggoTOWelMW 15 42 H42 2542 2541 market OWrrtfiet art bad an MaMlinp I at 2250 cants at April 2 1770 topto Ltnota Bote (Inchts7 PMnti La 1-loOc (Canhalb) STRICT MIDDLINO 2S 475 an 475 on MIDDLING PLUS 180 IM 400 ISA MIDDLING IM 425 APnrtl 26 (API Fulurea trod In on to CblcoM JHareon-til Euhanp WadnaMav: Opan HiMi Low CIM PvCI Jun 207- Aim JOIf 1072 20 45 J0S2 JON'M OcL 30 20 1022 IfN Mil Xlj J-to SS 88 Aar 2tH 27H 570 7 niarn Jun 7713 77H 77 2 nlO 00 1 Salatj Jun 1167 Aup 145 Ort 115 1 Dac 111) Pap 17 April 2 Jun 71 1 HI LIVE HOGS 'b Congratulations toour Miss Memphis Jun 2765 2715 27 JS 27 57 17MI Jul 1750 2 Aim 7570 Oct 73 7 73 40 ft 7 Dac 777 777 7270 nm 5M: Jim 107 July 125 Aup 17 Oct' UK IS I life 111 SHELL EGGS 13 20 ILM 23 IS 12 75 3330 2235 03270 1212 HAS 2450 2LM 03445 aM4S 65 Jim STRICT LOW MIDDLINO PLUS 7 nn 1 175 an 201 225 Leader Federal Revocable Family Trust Account STRICT LOW MIDDLINO 25 an IM an 17! an MO an Nay 2515 DC 352 1535 Jan 24M 1450 L1 n34 50 2415 14 40 1505 1335 33Mb33l5 35(5 3515 034 45 1555 1515 1515 MICRONAIRE QUOTATIONS Mompblt Catlap Bicbanpa 52 and abavt -150 MM 1450 MW 2455 '5 ftirouptl s-f 3 Salts: May 1151 Jun 111: July 7 2 5 IhrauMi 4 Bow Aup 0 Sea 372 Ocl II Nov Si Dac 1 21 ttiroupti 34 -100 PN9ZEN WHOLE EGGS SSS 75! JM n347Sn247S2A and below' 4M ola: Oct I 1 1-Mark to A reran I IDAHO POTATOES 'sj and abeva IM1 mm i mm toTOUPh 4 la FROZEN PORK BELLIES Itirauati 21 May 4475 44n 4LM 41S5 4477 17 torouph 1 Jul 4417 44 75 4555 4155 44M 24 pndbelew Ana 41 95 41 5 4115 4115 4430 Feb KM U45 2525 3511 b3647 ANW 1LMXM 2515 1525 bH40 AVERAGE Get both maximum safety and big earnings on large investments at Leader Federal Here's how: Open a Revocable Family Trust Account in the amount of $100000 with you as grantor and five of your immediate family as beneficiaries (your spouse children or grandchildren) With this type of account you havd complete control and may revoke the trust any time you wish Leader Federal will pay Interest at the rate of 75 per annum Daily compounding will give you an annual yield of 779 if principal and interest remain for a year The entire $100000 is protected by the Federal Savings and Loan Insurance Corporation Insurance of accounts Under new regulations of this permanent government agency each beneficiary of a family trust account is insured up to $20000 A trust with five beneficiaries (so long as they are spouse children or grandchildren) Is Insured to $1u0000 This is the best combination of safety and high return available on savings today Come in to any Leader Federal office now for a full explanation of how the Revocable Family Trust Account can be used to provide the protection and earnings your family deserves 2A62 July 211 Ftb 122 March 5 I rnttraat: May 422 July 7 All Aim 4251 Fb 10 March 171 MM a-Ottorad n-NomlnM Ararat 12 ipt morktti boM RddMint tot lachi 2111 Vl 2152 i 222 MEMPHIS 211 iris TREND OP STAPLE PEICEI April tr (API -Tha Lull Ightod wholHal 1 Dallai YORK API Prtn NEW Associated wrjre Index of 25 171 IJL Pravlau 11 JI5 Month Ago commodlltof daelmtd to IMontasmtry AaojAltama Carol Sue Ferrante Miaa Memphis 1970 Sponsored by Seller! Inveatment 144 1010 Year 17132 Hlfti LM 115 tO2f 12 pvortiB tqupto 100 Day 1L4A Weak IN 1747 AaolFravio 'FW A 158 Midison 3307 Poplar 4383 Sumnw 1451 Mtdison 2800 Lamir 1250 Shtlby Drivi MEMBER FEDERAL SAVINGS LOAN INSURANCE CONNNATION If youfre serious about sating youS saveaf Leader Federal Orvis Bros Co Mambtri New York Stock Exchangt and Othtr Loading Exchanges Established 1872 Stocks Bonds CommoditiUy Mutual Funds 165 Madison Suit 1711 National Bank Bldg 526-7411 Sellers Investment Company Inc 2701 Union Avtnua Extended Memphis Tenneflaee324-8531 i.