The Peninsula Times Tribune from Palo Alto, California • 7

PALO ALTO TIMES, TUESDAY. JAN. 21. 1949-7 nrsipss times Fund buys Sunnyvale Reaction to antitrust charge pushes IBM stock down slightly Biggest bank planning to help consumer spend Si center By Marge. Seandling NEW YORK (I) International Business Machines Corp.

stock has dropped moderately in price after die Justice Department filed an antitrust suit charging die giant computer manufacturer with monopolizing its industry. IBM closed Monday at (300 a share, off $7 JO from Friday, on -the New York Stock Exchange. It was trading at $303.75 this morning. Control Data. which earlier had filed a private antitrust suit against IBM, advanced $187 to $140.50.

Data Processing A Financial General which also had challenged IBM with an antitrust suit, was unchanged at $55.75. In 1968 IBM stock ranged in price from a low of $290 a share to a high of $375. The suit, filed late Friday, alleged that IBM pursued manufacturing and marketing policies that denied other computer manufacturers an adequate opportunity to compete. IBM said it considered the Justice Department suit unwarranted and without foundation and that it believed the highly com-petititive data processing industry will remain a growing and dynamic one. BUSINESS FINANCE United States Investment Fund, a real estate mutual fund, has purchased the 130-acre international Science Center in Sunnyvale, research and manufacturing center, it disclosed today.

The purchase price was more than $8 million, according to Keith Barish, president of Great America Management and Research Co. the management agent for the real estate investment fund. The International Science Center was developed starting in 1956 by the International Science Foundation (ISF) to provide sites for office buildings, research laboratories, light manufacturing, and other commercial ventures. The ISF is a nonprofit organization aimed at creating better working relationships between U.S. scientists and engineers and their foreign counterparts.

Purchase of the Sunnyvale tract waa included in 14 proper- NEW POST Connolly Mountain View electronics distributors, has promoted Robert J. Tomlin as corporate vice president, in addition to his duties as sales manager. Electronics Memories acquires San Jose firm Now you can get a BankAmericard cash advance without leaving your home, is the rather frightening, and tempting, message. (Theres something very push-button about being able to order up $500 just like that) Both forms indicate that the services are provided at the regular foe, a euphemism for the 4 per cent interest charge the bank daces on BankAmericard purchases, Moves like this have made BankAmericard the worlds biggest credit card system. Last year it doubled its cardholders to II million in California, other parts of the U.g., and foreign countries from Ireland to Japan.

Sales in 1968 went to a new of $914 million, 77 per higher than the $458 million of 1007. The number id merchant outlets accepting the card went to nearly 400,000. IMPORTANT SERVICE Credit card banking, the world's largest bank believes, la one of the most Important services it can offer its customers. If all this seems to give a sense of the banks hand lurking forever near ones billfold, an experimental program When it comes to ing out a consumers move, Bank at America seems to have in uncanny insight. Before Christmas, it advised holders of its BankAmericard credit card that they could pospone the December payment on charges in view of the pressures of holiday expenses.

That meant customers could merrily spend their way through the holidays without paying for even previously charged items until this month. What this meant to the bank in terms of extended interest Isnt known, but if many took advantage of the offer, it was considerable. -This month BankAmericard bidders received form printed to resemble the application for payment of California motor vehicle registration fees. Customers can charge the registration foe (which is due Feb. 4) just like other retail purchases for which they use the card.

INSTANT MONEY Along with that form came another titled Instant Money Application. Some custoqiers, by signing the form and returning it to the bank, can receive a cashier's chsck for up to $500. Mass memory system bought from Precision Precision Instrument Co. Palo Attn, has announced the receipt of the fidst order for ttsities with total valuation of $58 proprietary unicon laser mass'million acquired by the invest- it Is conducting in the East is even more sol It has persuaded several wealthy customers in Washington, D.C., to turn their income over to the bank com- pletely in a computer related program that includes both payment of debts and over-all financial planning. The customers selected had high incomes, but were plagued by an absence of cash on hand: Bills ate paid on a staggered -basis in order to maintain an even cash flow.

If the account should be depleted, a special-. ixed credit system is set up. to keep It alive. Part of the customer's income is allocated to a savings account. ADVICE GIVEN The bank provides continual confidential advice on how the customer should handle his money, and even recommends One customer got wind of.

what he considered a good deal on buying a race horse, and -the bank provided the required amount of cash in time for the purchase. -High income customers were chosen because the bank felt it could demonstrate the whole range of its services that way. So far, the experiment has led the bank to the conclusion that human acton enter Into financial decisions, and that rather than becoming ciphers, customers will get even more personalized services in the future LEASE 1969 Palo Alto company reorganized A reorganization of the firm of Clarence E. Rinne, Structural Engineer into Rinne, Hammond and Petfe'rson, Structural Engineers, was announced today. Offices are at 2450 El Camino Real.

The principals in the new firm include Rinne, of 341 Mariposa Los Altos; David J. Hammond, 1062 Metro Circle, Palo Alto, and Donald E. Peterson, 918 El Cajon Way, Palo Alto. The firm emphasizes work related to the design of earthquake resistant structures, analysis of existing buildings to resist seismic forces, SAN JOSE The acquisition of Caelus Memories, year old manufacturer of magnetic equipment for data processing, into Electronics Memories Inc. of Hawthorne, Calif, was announced today.

Electronic Memories had provided the original financing for Caelus in return for an option to acquire it if the mp a turned out successfully. This agreement has now been consummated, according to president Trade C. Taylor of Electronic Memories, and Caelus becomes a wholly -owned subsidiary of his firm. Caelus was founded in 1967 by Philippe Yaconelli, formerly if Memorex who is president, and a group of men from IBM Corp. Caelus makes magnetic I packs used to store data with computers.

The packs, widely ment fund last month Tenants in the science center include General Electric, Western Electric, and Microwave Associates. The improved sere-age is 75 per cent occupied. The property was purchased by the investment fund from Commercial Lease Associates, firm headed by developers Andrew F. Asbra and Vernon memory system. The order was from Pan American Petroleum Corp.

of Tulsa, an exploration and production subsidiary of Standard Oil Co. of Indiana. The data processing system to be supplied has a computer on-line storage capacity of one-trillion bits, considered by Precision Instrument to represent a major breakthrough in storage It will be installed at Pan American! Tulsa computer cen- and application of new knowl- ter in 1970. The science park purchase the first of many acquisitions" the real estate mutual fund hopes to make in the San Francisco area, according to Barish. Its other holdings include shopping centers, officer and high-rise apartment buildings.

Calif, manufacturing rises 6.2 per cent during 1 968 SAN FRANCISCO (UPI) bank, 1,638,000 persons were Manufacturing activity in the employed in manufacturing in by California. The metal industry during 1968 to a total of $24.5 continued lead all edge on earthquakes to building construction. The principals have a total of 60 years of experience as consultants. The systems range in price between fSOIMMO to $1 million. Cost of the Pan American order wasnt disclosed.

to manufae-a billion, the Bank of California said Monday. turers with bank also estimated that $11.6 billion, manufacturing will increase to crease. $26 billion during 1969 and to Transportation, primarily afr- total output of! a 4.6 per cent in- used in the data processing industry, are used in lieu of magnetic tape and drum memories The stock held by the founders of Caelus will be exchanged for Electronic Memories stock, but the exact terms were not disclosed. Electronic Memories, founded in 1961, had sales of $21 -million in calendar 1967 and estimates its 1988 sales at about $30 edition. It manufactures memories systems and other products used in digital computers, welded modifies and systems, instruments and printed circuit boards.

Its stock is traded in the over-the-counter market. Stocks ease in cautious exchange NEW YORK (AP The stock market closed a little lower today as Wall Street showed caution over possible moves of the Nixon administration. The market was mixed at the start and gradually assumed lower trend, with no particular selling pressure. A wide Jump by Goodrich untraded Monday in response to the offer for its slock by Northwest Industries, was a feature of die session. Lower sulphur prices, depressed Texas Gulf Sulphur, Pan American Sulphur and Gulf Resources.

Prices near the dose included: Goodrich, up 7 at 64ft; Texas Gulf Sulphur, oft 1 at 34ft; Northwest Industries, off 2ft at 136: National Dairy, off ft at 40; AMK off 3ft at 48; and United Fruit, off 1ft at 82. HOT LAWMAKERS CARSON CITY, Nev. (AP) -The opening session of the Nevada Senate got off to a hot start Monday. Fire erupted in a wastebasket three minutes after convening: Sen. Bill Farr, who also is fijre chief at Sparks, said someone mistakening dropped a lighted cigarette into the basket.

SUCCESSFUL INVESTING Changes in fund need not be costly craft, was second, persons and for $4.28 billion. El equipment and components followed with $3.4 billion. $38 billion by 1975. The bank predicted doubling of state manufacturing activity by 1980, or $51 billion. During the past year, said the IUUEDIATE DELIVERY Bayshore Business in larger offices of results ex I achieve the kind pected of then.

Bayshore Business Services you enow your capital has relocated its offices Fund for Fidelity Fund, is under the same management Although Manhattan Fund has had a disappointing year, given a reasonable period itr well-qualified management should By ROGER E. SPEAR Q-4 am 57, singla and in need ot advice ea ay holdings. My investments are 188 Sura Grawth, Fidelity Capital Fund flees in the building next door. Mrs. Husted is also increasing the staff.

The firm opened last April. It does accounting services, automatic typing, secretarial, and tax work. larger quarters, according Mrs. June Husted, the owner. The company has moved to ISO Bayshore Frontage Road in Mountain View from smaller of- 1100 Mueie Park 10-7211 originally and I have been very pleased with them.

He new says die latter twe are not doing as well as expected and be sold. Them were for my retirement in eight years and I hesitate to sell because ot the 8 per cent fee ta replace them. H. R. The three funds which you bifid are oftheagg re salve variety and I think it would be prudent to exchange one of these for a less speculative growth income fund.

This can be easily and inexpensively (a $5 fee) accomplished by exchanging your Fidelity Capital gains and dividend distributions to accumulate and I strongly urge you to you should have a sizable nest egg for retirement' We held Georgia Pacific convertible preferred purchased at about half its current pice. Hew does one judge the advisability and timing of conversion? V. Y. I can give you no hard-a d-fasf general rales, since each situation varies from the other and much depends on the individual stockholders needs. -By converting your preferred shares you will receive .7088 of a share of common for a conversion value equal to your present value.

The directors have proposed two-fonone split of the common and recommended an increase in the dividend to 80 cents annually, plus continuance of the quarterly 1 per cent stock payment By sacrificing some of your cadi dividend you will gain the 1 per cent stock distributed quarterly, against which the preferred is not protected. Although GP commends a high earnings, multiple, it has a strong industry position and a well established history of growth. Mo Alto 941-4111 Magma 497-7731 Son Jest 241-4900 Offices around iku world. Custom-made women's clothes at new store A womens custom-made clothing studio, Natalias Fashion Atelier, has opened at 713 Santa Cruz Aye. in Menlo Park.

The owner, Mrs. Natalie Wieske, formerly operated her own business in Lima, Peru, her native city. Since leaving there about IE years ago, she has had extensive experience in a number of shops in California and Arizona. She has worked for movie studios in Southern California. Just before opening her own shop, she was employed as a sales woman in the gown salon of Saks Fifth Avenue in Palo Alto.

Mrs. Wieske plans to sew for hard-to-fit figures and larger sizes as well as regular sizes. She drafts her own patterns or sews from patterns selected by customers. Stanford Bank shareholders get dividend Directors ofthe Stanford Bank newly formed holding company, declared Monday a quarterly dividend of 10 cents share, payable Jan. 31 to shareholders of record Jan.

24. More than 05 per cent of the banks shareholders recently converted their stock into that of the holding company. The remaining shareholders who didnt convert will also share in the 10 cent dividend. President Kirk Jeffrey said. It is the 11th consecutive quarterly dividend paid by the i i a i V.

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