Times Record News from Wichita Falls, Texas • 44

1 8D Saturday October 14 1989 MARKBTGDUGINCSS Times Record News I Wholesale prices jump energy costs blamed NASDAQ Tbe Patfaral Reserve Bearn Mai (maturing me vetae af me teller agetatt aRiar curranclat welgbtat an Ria bade al trait was MMi Tbuntey alt petafi ar gerccai Ram taetneetey! WBN A yeer aga tbe prtcee as af em Katfam Tima fram Talar att Sytfama ani aftiar Oct Dac MM MM MM Si Tbei talas 9B4 Tbu1 span taf Mm aff Ml YR TREASURY NMD prkg pit A Mate af Hi Die 9M 9M7 INI jpExchnnge ratee NffW YORK (API -New Yerb prtaee Retae tar fretae af ll Fangw Ex rtaagi fell aharply on the news that a labor-management group had lost financing necessary to complete a leveraged buyout of UAL parent of United Airlines The Dow Jones average of 30 industrial stocks was down about 190 points the steepest drop since the 1987 crash In a balancing act the central bank is trying to keep interest rates high enough to control inflationary pressures but low enough to avoid a recession The gain in retail sales indicated some houyancy in the economy dashing hope for Fed easing Those hopes had been kindled last week by a Labor Department report showing manufacturers lost 103000 jobs in September The Business Council composed of 100 top business leaders gathering for a conference in the resort town of Hot Springs Va predicted Friday that the economy will continue to soften in 1990 and may even topple into a recession unless the Fed cuts interest rates The climb last month in whole- sale prices wiped out consecutive) declines of 04 percent in August! and July and 01 percent in June! That brought the annual wholesale inflation rate for the firsts nine months of the year to 51 percent compared with 40 percent in all of 1988 By Davo Skidmore Associated Ptme Writer WASHINGTON A rise in energy costs helped trigger a rebound in wholesale price inflation in September wiping out three rare monthly declines this summer the government said Friday The 09 percent increase in the Labor Department's Producer Price Index measuring inflation one stop short of the retail level represented a return to the high inflation rates experienced in the first five months of the year Analysts were not unduly concerned however They noted that nearly all of the gain in the index can be attributed to two special factors: an unusually large and probably one-time rise in oil costs and a shift in seasonal patterns that made a modest drop in auto prices look like a large increase "If you take out the seasonals for autos and the energy blip which I think is just a rebound from (declines) we had this summer it suggests just not that said economist John Silvia of Kemper Financial Services Inc Nevertheless stock prices fell in early trading after the data was interpreted as an indication the Federal Reserve Board will not lower interest rates soon "These figures are appropriate for Friday the 13th and seem KammarcM nk MramwMnk (-mpiosi ram yansoai ram naaiMg bividends FRIDAY DIVIDENDS DTCiARID Par- mef Pa Jua mis TSut salat IMN Tbe 8 Span Int BJH aff IM I YR TREASURY UMi prtai ptt Mail af Mi pd Dae MMR IRJH RM tMMB Mi Mar iMjgg J79 Tbe1 taiat MM TRu'i apan id 41JIK aff Iff US TREASURY BONDS (I peMlMBjpta Mail al Mi pell oac mi mm mu mil 411 Mar 97-39 mi7 fM7 DM 11 Jim 741 IM mil IM 411 lap mu mi 411 Dae mi mss ma mis 411 Mar mu mM IMI mu 4 II Jim mil 4 II sap ms 4n Dae ma 4 11 Mar ma 4 11 Tbe1 taiat SUM Tfw1 apan tat HUH ap EM MUNKIPAL BONDS MHi tatoejpta Mnt8 af MS paf Dae ma ma mis 4 a ma ma ma mis 4 as mi mn mi mn 4 a Sap ms 4 MS IRRIRULAR IS 11-1 1M1 SHnca IfrD IfrD Prui" NighYMInce JN IMS 11-M STOCK Pradar Gemkte a IMS 11-M haliart approve I far 1 tpm Mpc 1D1S 11-1 INCREASED IS me Satan Vinca Carp 11 Laura! SvgsAssa SS Union Ilac SPECIAL Quasi VaMualPurp js mst mn Burlington Century Bncp A Eatfam uni Fttchaurg GEE OraanTrat Accept Ifrll 14 JTS IM IMS JD IM IMS 114 IMS is mis iMi mu mn JS 1M1 IMS IIS IMS 11-M mat mil js mm 114 mat 11-is JO 114 1141 is mas IM7 J7 114 I14S I14S IMS Tbu1 taiat S44 Tbu1 apan Id EME up ID Spot commodltlaii NIW VMK (AN) lari INMmW: NY(Camaa) jmm Council: Recession possible unless NattanalRaalty LP Newer Bncp Quest VaMualPurp Raafltf me SfPaii Bncp UNUM Carp Wfcnatln PE i NiytMi In CwiAw Fund I Chicago BOT job urn Antimony American par IB MS Ml Mi cappar uiecwmyiic 1JMB MMS MI-MI BaM tray at Haniy Harman mm jtEts mm CNICABO BOARD OF TRADE EMI MIS EM Laai IB MM MM MM Pig Irea faJ firy Buffalo grata tan turn mm tuo Ptaflnuwt tray aa NY (cantractl Platinum NY Marc tpaf par tray aa na sis si si7ti Farm markets By Martin Crutalnger AP Economics Writer HOT SPRINGS Va Economic growth in 1990 will slump to its slowest pace in eight years with an outright recession a distinct threat unless the Federal Reserve lowers interest rates the top business executives forecast Friday The Business Council composed of the chief executives of 100 of the largest corporations said that the economy began to lose steam this summer They predicted that the sluggish period will last through much of next year The forecast said however that a timely assist from the Fed could make the slowdown the "pause that and lead to a rebound in growth in 1991 That would give the country an unprecedented nine consecutive years without a recession The study prepared by a panel of top corporate economists predicted that the overall economy as measured by the gross na Rrdducerl Price Index For gnlslwd goods SbbboiieY oipuusf ehanet tom prior imnti FMAMJ JA 8 IMS 19H UZDaptal Labor AP destined to strike terror into the hearts of financial markets" said economist Gordon Richards of the National Association of Manufacturers The market also was initially reacting to a Commerce Department report showing a stronger-than-expected 05 percent increase in retail sales last month the seventh consecutive rise Later in the day the market tional product will expand at a 29 percent rate this year identical to the Bush forecast For 1990 however the Business Council said growth will slump to an anemic 18 percent annual rate the slowest pace since the recession year of 1982 This prediction is significantly below the outlook for growth of 23 percent next year and would represent a blow to Republican hopes for reasonably robust growth to boost their chances in the 1990 congressional races "There are a variety of potential weaknesses in the economy that carry the risk of a said Lewis Preston chairman of JP Morgan Inc the large New York bank I were the Fed I would be inclined to lean in the direction of an easier policy My sense is that we will need a fair amount of insurance against The administration has also "Wichita Falls shoppers will have many more options by watching the JCPenney Shopping Jim Miles manager of the Sikes Senter JCPenney store said "Purchases can be sent by UPS to a home office or destination of any choice Or TV shoppers can pick up merchandise at our catalog desk "The new network also offers more efficient delivery with purchases usually delivered within three to four days" Miles said also guarantee 100 percent satisfaction on purchases through the network or the customer receives a full refund including shipping charges both ways something no other TV shopping channel offers" The FCC Bucher said has classified KXTX as a "specialty up to now because at least one-third of its overall programming and at least one-third of its prime-time programming is religious foreign language or automated in nature no way KXTX will meet that criteria any Bucher laid in January we would have had to start paying more for it thus forcing a rate hike" Bucher said Vista conducted a telephone survey of customers concerning their opinion of Channel 39 and found that 24 percent of the respondents said KXTX had lot of value" and 27 percent said it had "some Vista will send information to its viewers on when and where KXTX programming can be found on other Vista stations LIB 5404 51714 litot 1X411 WWI bit 1S1MX up 1117 OIL 4MM Hti dWtara par IM ILH ILM 17fl ITtS 1145 1L71 ILH 1140 ILft 1147 lfll lfM MfO HSi IfU If 31 If IftS Hit XM MN IfTS MM MW If Jf MM MM MJI Mlf MM M1I aW( IXBM pan Int 4XM7 up SI MEAL Ml tonai dalton par tan 1B5M IHM IHfO IM 1I1M IMM 11011 17IM IMJI 1IIM 17731 17741 17f Jl IMM I7LM INU 17ffi I7fll 17SM 174M 177M 17IM I7SM I7LM 17401 177M I7LM I7LM 17IM IHM 17450 17430 ITS 01 17SM 17LM I74N 17SM I7SM 17LM 17SM ate lXIlf ipan Int 57 Mk aff Ilk SSB 171 LU LIB -41 -JIM Jan Thu' Thu' i SOYBEAN Oct Dac Jan Mar May Jul -11 -11 -11 -M -11 -M -M -IS -a -a Oct Oac Thu 'I Thu i SOYBEAN Oct Oac Jan -1M lM -111 -IM -ta -1M -154 -ia -iji Jul Aug Sap Oct Die Thu1 Thu1 Chicago Mercantile" CHICAGO (AN) Futam trading an Itw Chicago Marcantlto Eachanga Friday: Opaa mgb Law Mtta Cbg CATTLE 4k4M Iba VW MM- "VSk m- w) mm mm B4-ari mM rwMd aa-ari PNonfarrous matala NEW YOBK (AP) ipl MMIM Alumlaum MM war psund NV Carnal itmiiM Tfiu Cappar 11SIH a pauni US teiti- Cappar IUMI cantt par pauni NY Camaa tpaf nwnm Thu Laai SMI cantt a pauni Zinc a cantt a pauni tbUveret TM SM7 mefalt Waah eempatlia price par Ik) Oati SHE Han Harman lady iaily auafa) OaM-SMESi par tray NY Camaa tpaf SNvar IS MS Haniy Harman lady tatty auatal Sltvar M9N par fray atm NY Camaa Mercury mfMMITMi par 7S Ih flaak Naur Yerfc Ptaftaem MNJfr44HO tray aim NY (cantractl Platinum MBSM NY Marc tpal par tray aa Thu na net auefai IO Precious matala NIW VMK (AN) NrkM Friday Sf to takm camparid w(M THunKyi cunmsWfr Ma It Lul I lry ti IN Mu II Nin 11 Iriy ai Aut Ill crown Mil tray at SITE 19 American Eagle I tray ai Ama 1 1 a American Bagla Slat SUM American Bagla liai SMS 1 China Pania 1919 1 tray ai Silver CalM IME face value pre MSI dreutaftaa IS44MC up IMJI Saurca: MTB Banking Mtosl Taaai 4750 M1S Mf July Dwart SW 73M TIM 48 Octohar SJ Valtoy 7XN 77 Jl 4H Dacambar IB March 11 4775 avaraga Mlf Tiff Today' cotton quotation tar wtoctod qwllttok mNt MJf Sim Lm Edt T-Ok Sbn Lm Lt Sp Lt ip mlfcl 1M4 Hit UM MM 4111 MM na aa hi ud mn aa 1 44H 4144 4X11 tlN A bstow 1-18 MM 4XM 44 75 1-1 UN 4451 UJS Wtoat Tarn mlka 1344 Hit tlN MJS UN 0N MV IIM 4XN 41 UM SLU Bit 1 MM ttll UN MU batow Octohar H-lf: adlwtod world prlca 4711 MM HM 47 X417 -IM -HU tlN -IM -IM Coarta caunt adlwtmant -111 HM fl Oklahoma grain OKLAHOMA CITV (AN) Tha itato topartmant Friday ta-tUr' rlparM ttl Mtowtag dating prlew Whaat (bu): I to 1 canto towar SALTS baavsr Ktiik LibaraL Narrytan LSI Mwkagaa L4L Naull Vdtoy WfaaWwrtord XU Davh Madtord None City Itlllwator LM Eldwadk Miami XT) Alton Cllntoa ttobnrt L71 Bannar El Bank Gaary KlngfWwr Mwidwitor Oksana Watonga Yukon L74 Ttmpto L7S Lawton 74 -F radar lek L7f OuH 4Jf Gonarlc carttNcatot fO-IU parcant at tact vtlut Mlto (cwt) (toady to 1 can) toawr LS4-4M Alton MlamL Mwkagaa XU Baam Kayo LibaraL Nar-ryton XS7 Watonga LU Wbaltwrtort 4U GuH 4H laybaan (bu): canto toawr 444JN Mwkagaa 444 Wwltwrtord 4J7 Davit 4Jf Baam Kayak ifis'irarL Viw 4n US No 1 yqltow cam: 11M4L Llbaral lM aavw Kam 14 Fnrryton it Alton Miami IM Mwkagaa lM Gulf Mk Grada ttapto cotton to lauthwaitoni Okfatwma avaragad Uf war IN AHaHa hay In cantral and wtatorn OkJahsma wa N-WL In Itw Nwdwndto 4S-IL Nralrto hay In antarn Oklahoma wa rallara: a St canto par pound Eggs: A torg canto A madlum I) canto A wiwll Arrowhead livestock Tha marhat at Arrawhiid Umtack Mat Cs tar Friday Octohar 11: Csmparad to laat waak packar caw ramakwd ataady to ll Makar But) wan abaut (toady Faadar cattto wwi (toady toll MgtwrMack-ar cattto and calm awn itrang and to good dwnand rad cawi rabauwdad mi wtwt to anttclpstlan a I rah to maba adwat paatura Fair about toady Thd run WN 4N haad at cattto acrardtm to Jm baby aim: M-1IL Bat baby aim: HB-1M ulh: Botopna SLU Itockar ML Caw: Fat 4ML Cuttor 440 Cannar MJI Hi Ormbig SL Itockar 47S-4U par haad Cow aim (pUrt): Goad 45P-7S4 Nlalfi SS441L Hacbw faar calm (1S4UI): CbUa H-IH Goad IP-ML (1SA4M): faadar atoar yaarllngt (SS4-7M): Cbda D4L Goad Hahtoto (tom yaarllng (UL7M): ChUa SLU Goad 4I-4L Faadar htltar yurllngs (M4-7MI: Owtoa JhH Gaad M-7X iPShoop SAN ANGELA Tdaaa (AN) Nattonri (kara mm- wry tar Friday Oct IX Waakly Irand: camparad wdh tori waak ilaughtor jamb toadytoLM ktghar tlaugktor two ataady to IJI klfhar lucapf Saa Angrik Taut warii to IJI war Faadar Iambi ataady to LM towar At San Angato racalpt totatod IUM haad Blachwrit Ohto totoauettaa mM 4M haad Mldwari riactraUc auettan rid MM haad to IH lad Wta Blatant tan praOon a uiMUrwilc auettan arid IMIwd It Vd A WVa to diracl tradtog ilaughtor tana ataady to wd car lot ton mn anagana tanw ilaughtor undar tadwU ktopactfin ta data totatod HUM cargarad with MUM Im IM unto partod tori waab and HkMI tor IM urns partod tori yur ID Amarillo (dlot A44AEILL01 Tun (AN) Tarn waitora Oblahama taadtot rapart Ca TraU vary Haw to (M Nanhandto area anaugk ilauphtor riaar ar brifara can wra rriS amaa 11 7XMI hgi latoa rapartod aa LIU ilaughtor llama and MO MHare Nsto: aH Hu cattto prtoa haatd am ul wafghto fuL IM attar 1 abrtnb LX Cbrick IMI ba UK Faw miasd aatoct and I1M-IMI (ba SPn iK tot 71 IK (HP chria ilaughtor hritara: pm mluad Mtoct and dtriu 1 -11 -IJ Vista Cablevision to add 2 channels to basic lineup interest rates fall I been pushing the central bank to lower interest rates as a way of making American exports more competitive overseas Lower interest rates in this country1 make dollar-denominated investments less attractive to foreigners and thus lower the value of the dollar i However Federal Reserve' Chairman Alan Greenspan has given no indication that the Fed is going to loosen credit anytime soon and in fact the Fed is still sending signals that it is worried about inflationary pressures The government reported Friday that inflation at the wholesale level shot up 09 percent in September Many of the business executives however dismissed the inflation report as a temporary blip that did nothing to change their view that recession and not inflation waa the bigger threat facing the economy at the present time im Digest Citicorp chief criticizes Bush administration HOT SPRINGS Va (AP) The head of the largest bank said Friday that some bankers feel betrayed by highhanded tactics they contend the Bush administration is using to push its Third World debt-reduction strategy' Citicorp Chairman John Reed said the debt initiative unveiled in March by Treasury Secretary Nicholas Brady had generated enormous tension in the banking industry in part because banks weren't consulted before the plan was put in place "With no warning stnd no obvious reason all of a sudden the banks are being asked to shoulder serious economic Reed said Retail sales increase 05 in September WASHINGTON (AP) Retail sales rose a moderate 05 percent last month the government said Friday in a report analysts said shows consumer spending is still fairly strong despite a slowing economy The Commerce Department said sales rose to a seasonally adjusted 81452 billion last month after gaining 07 percent in both August and July The revised July figure was even stronger than the 05 percent first reported "It shows good solid consumer spending out there" said economist John Silvia of Kemper Financial Services in Chicago excluding automobiles sales were up 04 percent" Silvia noted "Furniture department and drug stores they all were good sales numbers and I think what we want to see We want to see a Oklahoma livestock OKLAHOMA CITV (AN) Mn an Iht wsskly qwtattona from Nm Oklahoma Nallonil Stodyardi tor Oct through Oct II: CATTLE Cwnpnnd wINi Int mnk: fmtor cam an calm itoatfy to UK towar Faadar quality attractlw wltti Engllth and ngtlc crouai In goad upply Many grain (modaratoty IMn to ilIgMIy thtn) cam In nw iffarlngt Madanto dwnand tor mad lum and targa trama Na 1 mwetod cam talr to IlgM damand-tor toawr gradn Sutatantial dluaunti wan tokan on unall (ramad and Ns 1 mwetod (Hpactolly kratima crau) llvntock Slaugtitor com UtMlN towar Bull ilM toawr Slaugtitor caw and kutl da-mind light msit at Itw walk ctoilng goad tor bonaitla typtL fair tar brnkan Bipliciminl taw damaad modiri to about 4S parcant af cow numkari bought by country account lacWpta till waak 11001- laat waak 11111 lait roar IX lit Run Indudad parcant yaarllng taodar atoan and halfan 41 parcant itoar and haHar calm and IlgM yaarllng itocfcan 0 parcant com and bull Bulb quota tor Itw waak fallow: Faadar itom: madlum and largo tram a I 111 MO lb IIMIM1I4M 4SP4S0 tot IHIN lM iba rnaMiggiB: somh in wmN: sjmso Ml M0MI7S MMH Iba ltW tM Iba ioiig-sgsOD mm iw mihwii hmn ib snTS4tlS0: NM73 Iba inSM77ll Largo trama 1 haliMm 300-400 Iba IMnN Mt-7B0 Iba S71M TOMOg Iba ISTQM7lyS I0MSS lbs 4400 Faadar Iwltan: madlum and torg a trama I btoJM Iba iliaaMllLga JOMOO to ItoNMlOOM MUM Iba IM SMfSM 4S0-SM Iba IILS4ISg MMR Iba M10MM0I SSMM Iba STIIMUTS 400-101 Iba ITT1S441 TOOTS! Iba I74J447TM itougMir cswt: cuttor boning utility and bnaklng Utility VO 14 S44TM4fMb Mgll dnaalng S4T SSdTL Cannar low droning cuttor and utility 44 S4-44L0L Staughtor bull: VC 1 ISOO-lfM Iba hlgh-drntlng ar banlng S401S-M11S 1144-MSS lbs avaraga droning SSTNMSfTI VC 1-1 1IN-MM lb Law-draulng ar Itethy SSI1MSLTS Baplacamant cawi: prv totod tar bang png-nancy and ago madlum trama No 1 mwetod cawi: yaar aM ISd-IM Iba months brad SSLBMSL1S cwl Largt trama no 1 mwetod Cdwi: 44 year aid IITS-IHS Iba 44 month brad I4S W-SS4S4cwt HOGS Barrow and gllti fully hlghar Sow daasd SI4441il hlghar Radpti Nila walk I ST compand to hit waak at 133k and a yaar aga at Ud Supply kictodpd ISO tppdir pig omprhlng 7 parcant at racalpt Tap prlca tbh waak S4TSB paid Thuraday tor barrow and gllti walghlng U4M Iba SHEEN Nacalpt: ISk InctodM goaf Compand wllti Wadnaiday: toadar lambs undar IB Iba SLOMTH towar soar 7S tot ataady to waak Slough (ar lamb toady to llOB hlghar Slaugtitor two sSMIBB hlghar Qwilty at toadar and two not aa attractlva Lamb toll and ttoWiy Buytr attond-anct fair Trad and dwnand madarato Supply on--Istod af 4S parcant fwdar Ipmba 11 parcant awtk Staughtor tamba: chalet and prim I1S-IM Mk ISSlS-tSI7L Fpadtrlamb: dwicp 4VN Iba M41S-I4440 K-IH Ms 3715-434 SL Slough far mm: good ll7SMIf7L Baplacamant oww: prlcoi par fwad Gaad yaarUng to 1 yaar sU tow I1S-1H Iba IMId-Ml Uhd Gaad mIM mouth nw taw Ild-ITS Iba UiTSUia hd Gaad land mauth Individual brad IM tot Ut75hd Ipantob poato: a haad SaU by tha haad Filthy Individual IM tot MLNhd Madlum hath IMP tot UIJbULHhd Thin hath 4B-7S to Uf NUl Mhd YaarUng 4S-U Ma ULIMlIlind Haavy tprlnpar Individual IU tot MkNM Chicago BOT CHICAGO (AN) Futuna trading an tot Chkaga sard at Tradt Friday: WHEAT Dac 4M 4 Id 4UW 41440 4 55 4 4 4J4I4 -F4M IN LSI XM44 LM -JM 1574 LSI LSI LS44 -JN4 LSTtolSf IM LM -Jf 5 Tito 1715 XU LU JM I I4U tat si in up ml Sat Ok Thu1 TNnl COEN I Ok lua 1145 1JN4 IU 1445 1444 lU 1JH IM 1411b 1MV5 1175 1U 1U MLVt 1041k 1115 114 IM Milk 1JM4 lM4 IN IN IM lM4 lM 1141 141 HP 141k -jin -lib -Jlto -414 -FJIto Jl F-JBto Thu1 Thu1 Eat iito tklU Thu1 (ala f4ff Thu1 apan Int 1LI4L up 171 NOBK BBLLJES 4UM Ml earn par to Fab SN8 SI MM S1M -HM Mar MJI SlM UM MM -FIJI May MM SlM MM IIM -FlM Jut MM MU UM Si 47 1H Aug UM UN 4LH UM J7 Eat utot LUL Thu1 lata kfN Tbu1 apan bit IlMf up 444 York cotton NEW YORK I AN) Cattaa ap I fuluraa an tha NY Caltan Eadwng a Friday: By Mike Dougherty BuEiiteEE Editor Vista Cablevision will add American Movie Classics and the JCPenney Television Shopping Channel to its basic cable lineup Dec 1 and will drop KXTX-TV Channel 39 in Dallas according to General Manager Bert Bucher American Movie Classics will air from 2 pm-4 am each weekday and from noon to 6 am on weekends The JCPenney Television Shopping Channel will air from 4 am -2 pm each weekday and from 6 am-noon on Saturdays and Sundays More than 60 percent of KXTX programming is now repeated on other channels available on Vista Bucher said and the change in classification by the FCC would have prompted a hike in rates of at least 60 cents in January American Movie Classics is a cable channel that brings 50 years of Hollywood classics to the television screen along with star interviews music specials and classic trivia game shows In a Vista telephone survey 75 percent of the respondents rated AMC as or "very Bucher said had a lot of correspondence in the last six months asking us to add American Movie he said The JCPenney Television Shopping Channel will offer Vista subscribers a chance to view products from the JCPenney catalog call from home to order and drop by the JCPenney catalog desk at Sikes Senter in three or four days to pick up the merchandise Thu 'a aaldt 141 Thy dpta lat 4114 up 111 NEW YORK (AN) Criton tuturaa Na 1 Ctaisd canto to IXH a hats hlphar Friday TM avaraga grtoa tor antcl law middling I A Mt itoto U7I i I potato to U7I canto a Buwri ThutlriaM tea (ha anatom MnRf Xra alvM 1118110 NCWM te Momphis cotton MEMPHIS (AN) Nattonri cotton marhato FrL day: Futam MM TIN 0 I Dacambar 'll mm 0 March MJI Thu1 apan tot J0 aH a IOYUANS par ha.