Alton Evening Telegraph from Alton, Illinois on June 24, 1963 · Page 8
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June 24, 1963

Alton Evening Telegraph from Alton, Illinois · Page 8

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Alton, Illinois
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Monday, June 24, 1963
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PAGE EIGHT ALTON EVENING TELEGRAPH MONDAY, JUNE 24, 1963 Telegraph Reports News of Business, Industry in Area Trotter Wins Trip P. A. Trot lor, of Trotter Motor Co. Wood River, and his wife, will leave for Las Vegas, Nev. Tuesday. Trotter won the trip award from American Motors Corp. and was cited as being the top-volume Rambler dealer of his size in the St. Louis area. While Trotter and his wife are in Las Vegas, the agency will be running a special four-day sales promotion campaign. SpHngmnn Lumber Joins Program Spring Lumber Co. 1101 East Broadway lias joined Douglas Fir Plywood Assn.'s prorani to assist home owners planning remodeling projects that add spaee to existing homes. A non-profit, nationwide trade organization, the DFPA has developed room addition designs and working drawings for new family rooms and new bedrooms. These designs will fit most any house built since the end of World War II. Springman Lumber Co. by joining the association's program, has access to the design and building information compiled by DFPA from remodeling experts across the country. The designs were developed to provide esthetically pleasing additions which can be built with new cost-saving construction techniques. Bar Burger Chef Opens The Bar Burger Chef, a self service drive in at the corner of Main and College Streets, had its grand opening Saturday and Sunday. Don Collins, owner-manager of the business, said the main feature is open flame broiled hamburgers. The drive-in has been opened since June 6. A milk shake was given away to every customer during the two-day celebration. Collins said the Burger Chef will be opened daily from 11 a.m. to midnight. The Alton drive in is one of 300 in the nation-wide franchise chain. Douglas Smith Promoted Growth Insurors Holding Corp. has announced the promotion of Douglas Smith, 786 State St., Wood River, from salesman to the position of district sales manager for the Alton-Wood River area. Bill Braden, Alton, was the first man representing Growth Insurors in this area and the sales force has now grown to include: Smith, Rob. Burns, Don Weese of Wood River; Bob Walden, Alton, Ralph Irvin, Godfrey; Barry Hunt, Bunker Hill; Charles Morgan, Rosewood Heights and latest to join the team Ray Laughlin of Caseyville. New TV Stamp Book Out Emphasis on luxury is the key note of the new Top Value Stamps Savers Catalog for 1963-64, introduced here today. It is a 152-page four-color rotogravure 8% x 11 book. W. P. Runyan, President of Top Value Enterprises, Inc., said, "As a result of Top Value's growing experience, we have expanded our line of personal apparel in this catalog." "Stamp savers seem to be more interested in luxury items; furs, quality clothing and improved lines of home furnishings and furniture. These are the areas being Industrial \ ^organization Of Farm Power Co-ops Is Urged NEW SERVICE STATION Mayor Harold Botf of Brighton, center, cuts ribbon to formally launch now Conoco Service Station at Brighton. Station will be operated by Allen McAfee, second from right, manager, and John McAfee (second from left). Don Schrimpf, left, and Robert Schrimpf represent Piasa Motor Fuels, Conoco distributors. emphasized in our book," he continued, items." of over 2800 New Union Tank Car Unveiled Union Tank Car Company held a preview showing at Winter Haven, Fla. recently of a new type railroad tank car that keeps foods cold without refrigeration. The car. designed to hold fruit juices and other food products at near-freezing teemperatures without the use of mechanical cooling equipment, was displayed to directors of the Florida Canners' Assn. and other citrus food processors. It is the first railroad tank car of its type to haul cargoes of orange juice. Investors Security Growing Investors Security Life Insurance Co. of Arlington Heights, which sold $100 million of insurance during the first 2-Vo years of operation and established a world record for production, apparently has not slowed down its pace. James H. Hall, President, and Garry F. Connell, Jr., Executive Vice President, Co-Founders, reported that production for May was in excess of $5 million. The company is a pioneer in the field of combination programs, which are known as balanced investment plans consisting of high cash value insurance with guaranteed annual cash returns plus, if desired by the purchaser, shares in a mutual fund that holds insurance stocks. The insurance feature of their plans is to protect a growing family against disaster because of the death of the bread winner. The high cash value insurance also provides a hedge against depression. The policy participates in the earnings of the company, thereby providing, with the accumulation of insurance stocks, an inflationary hedge. Livestock Prices At East St. Louis NATIONAL STOCKYARDS, 111. (AP) — (USDA) — Hogs 8,000; barrows and gills 1-2 190-240 Ib 17.65-18.00; 21 head lot 18.10; 40 head around 220 Ib 18.25; mixed 1-2 180-240 Ib 17.25-75; few 2-3 240-260 Ib 17.00-50; few 2-3 270-2-W Ib 16.50-150; 12 150-170 Ib 15.5017.00; few 120-150 Ib 12.59-15.75; sows 1-3 275-350 Ib 14.75-15.50; 350-400 Ib 13.75-14.75; few 15.00; 2-3 400-500 Ib 13.00-75; few 14.00; 500-625 Ib 12.75-13.25; few 12.50; boars 11.00-12.75; few 13.00. Cattle 5,000; calves 300; slaughter steers lot choice near 1,050 Ib 23.50; choice 900-1,100 Ib 22.7523.75; lot choice near 1,300 Ib 22.35; mixed good choice 950-1,200 Ib 22.25-75; load near 950 Ib mostly choice end good 23.00; few good 21.00-22.00; slaughter heifers few head small lot choice 750-850 Ib 22.50; good choice 21.0022.25; load standard good near 1,050 Ib 20.00; cows utility commercial 14.00-16.00; canner cutter 12.50-14.50; bulls utility commercial 17.00-19.00. Good choice veal- ers 24.00-28.00; high choice 29.00; stuiKiard low good 20.00-24.00; few cull utility 15.00-20.00; good choice slaughter calves 19.00-24.00. Sheep 900; spring lambs good choice 80-105 Ib 19.00-21.50; limited numbers choice prime around 12 Selected Stocks Following are today's 1:30 p.m. quotations of 12 New York Stock Exchange issues research has indicated are widely held in the Alton area, as supplied to the Telegraph by Newhard, Cook & Co., from its Alton office. (The New York Exchange closes at 2:30 p.m. (Alton time), so these are not the closing quotations): AT&T 122%, Gen. Motors 73V4, Granite City Steel 28%, Olin Mathieson Chem. 44, Owens-Illinois 84'4, Shell Oil 43 7 / 8 , Sinclaii 44%, Socony 66%, Standard Oil (Ind.) 60%, Standard (NJ) 67% U. S. Steel 49%, Sears 89%. Produce Prices At St, Louis ST. LOUIS (AP)-Eggs and live poultry: Eggs, consumer grades, A large 29-30, A medium 24-25, A small 19-20, B large 26-27, wholesale grades, standard 25-26V 2 , unclassified farm run '23%-24 l &, checks 18-20. Hens, heavp 12-13, light over 5 Ibs 9-10, under 5 Ibs 7-8, commercial broilers and fryers IG'/i- 90-100 Ib 21.50-22.00; utility good 15.00-18.00; cull utility 12.00-15.00; slaughter ewes cull to good shorn 4.00-5.50. Home Sales Announced By Hemphill The Harry F. Hemprill Agency oday announced last week's real estate sales made by the agency. For Mr. and Mrs. John Martin, heir five room home located at !101 Rockwell Ave., was sold to VIr. and Mrs. Herschel Eugene 3urch. The six-room home located at 02 Cherry St., was sold to Mr. md Mrs. Elmer Hammond of Bunker Hill. This home was Deviously owned by Mr. and ^Irs. Louis M. Cocozza. For Mr. and Mrs. William "essler, the six-room two-family esidence located at 306 Hoffneister St., was sold to Mr. and vlrs. Clifton E. Newcomb Jr., md Mr. and Mrs. Paul W. Springman. rhe five-room brick home located it 3634 Aberdeen Ave., was sold or Mr. and Mrs. Joseph L. Nagy o Mr. and Mrs. Alfred T. Wyatt. Mr. and Mrs. Robert P. DeRoy nought a four-room home located at 12 Crestwood Drive, Godfrey. This home was previously owned by Mr. and Mrs. Maurice E. IT— J_ \V3QG. News of Stocks Market in Rut, Mixed NEW YORK (AP) - The stock narket continued in a rut of nixed prices late this afternoon. Volume was estimated at 3.6 nillion shares compared with 4.19 nillion Friday. Trading, which had been moderately active, slowed. The rails, which had been standouts during the morning aded. Aircrafts took over as the nost active group. Whirlpool Corp., which opened ate because of a crush of sell arders, dropped 5% to 49. The company said an audit indicated ts finance subsidiary, Appliance Buyers Credit Corp., faces a write down of several million dollars in ts accounts receivable. The steels, although the indus- ,ry had achieved its lowest-cost abor settlement in many years, were weak. U.S. Steel declined nearly a point. The motors, too, showed weakness with the Big Three down fractions. Lockheed and Douglas gained a point or so while Boeing and General Dynamics were ahead fractionally. Du Pont widened an early small loss to one of more than 3 points. Rockwell Standard declined J A to 42% on a block of 24,526 shares and Tidewater Oil advanced 1'4 to 26 Vi on a block of 20,000. U.S. Smelting and American Smelting climbed more than 2 2 points. Twentieth-Century -Fox News of Grains Futures Weaken CHICAGO (AP)-Hedge selling weakened wheat futures today but com and soybeans were in good demand at strong prices most of he time on the Board of Trade. Wheat eased a cent or more in spots as harvest of the winter crop broadened and forecasts indicated it probably would not be nterrupted again within the next few days. Reports that rainfall late last veek was not as heavy or as general as had been forecast and hat both corn and soybeans may lave suffered some frost damage )rought speculative demand for x>th commodities. Estimated carlot receipts were: Wheat 32 cars, corn 252, oats 15, •ye 1, barley 48 and soybeans 29. CHICAGO (AP)— Com No 2 yel- o\v 1.31V 2 -32; No 3 1.30%; sample grade 1.15^-1.24; soybeans No 2 yellow 267y 2 -2.68; oats No 1 extra heavy 71%; No 2 70y 2 ; soybean oil 8%b-9a. There were no wheat sales. Prev. High Low Close close U/hoat VV licdl Jul 1.87 1.85% 1.86% 1.87% Sep 1.88% 1.87% 1.87% 1.89 Dec 1.93% 1.93 1.93% 1.94% Mar 1.95% 1.94% 1.94% 1.95% May 1.89% 1.88% 1.89 1.89 f~*r\ttn coin Jul 1.27% 1.25% 1.27% 1.25% Sep 1.24 1.22% 1.23% 1.22% Dec 1.17 1.15% 1.16% 1.15% Mar 1.19% 1.18% 1.19% 1.18% May 1.22 1.21 1.21% 1.20% Oats Jul .67 .66% .67 .66% Sep .67% .66% .67y z .67%' 3ec .70 .69% .70 .69V 2 Mar .71% .70% .71% .70% May .71% .71% .71% .71 Rye Jul 1.27 1.26% 1.26% 1.27 Sep 1.28% 1.28% 1.28% 1.28% Dec 1.32% 1.31% 1.31% 1.31% Mar 1.34% 1.33% 1.33% 1.34 May 1.33% 1.33 1.33% 1.33% Soybeans Jul 2.65 2.63% 2.64% 2.63% Aug 2.63% 2.62% 2.63% 2.62% Sep 2.59% 2.57 2.59% 2.56 Nov 2.58 2.55% 2.57% 2.54% Jan 2.61% 2.59 2.61 J / 2 2.58% Mar 2.64% 2.62 2.64% 2.61% May 2.67% 2.64% 2.66% 2.64% Robert Taft Jr. Undecided on Running WASHINGTON (AP) — Rep. Robert Taft Jr., R-Ohio, said today he doesn't expect to decide whether to run for the Senate in 1964 until after Congress goes home, possibly in the fall. and Control Data added about a point. Prices on the American Stock Exchange were mixed in moderately active trading. Corporate bonds were higher and governments were unchanged. Vegetable Planting Declines WASHINGTON (AP)-The Agriculture Department reports that 1,546,870 acres were planted this year to nine major vegetables for commercial processing, a decline of 7 per cent irom last year and 3 per cent below average. Smaller acreages were reported for sweet corn, tomatoes, green lima beans and cabbage for kraut. Increases were reported for spinach, cucumbers for pickles, beets, swap beans and green peas. Oil Rig Slips, Damages Truck And Bridge EAST MT. CARMEL, Ind. (AP) — An oil rig that broke loose from a truck has caused about $40,000 damage to a bridge and the truck. The accident happened Sunday on Indiana 64 near the Illinois line. The truck, owned by the Illinois Oil Co. of Lawrence ville, 111., was crossing the bridge when a tool used for the completion of oil wells broke loose and damaged the structure of the bridge. No one was hurt. Damage to the bridge was estimated at ?25,000. It crosses Mauch's Pond and connects with Illinois 1. Prices on 16 Mutual Funds Following is a list of 16 mutual investment fund stock quotations provided to the Telegraph by Newhard, Cook Co. throu CT h its Alton office. These stocks are selected on the basis of their sales and ownership in the area. The quotations are yesterday's closing. Issue. Bid. Asked. Affil. Fund 8.14 8 80 Broad St 14 24 15 39 Bullock 13,57 14 87 Capit. Shrs. 10.99 12 04 Divid Shrs 3.45 3 78 Fid. Cap 8.78 9 64 Fid. Fund 16.28 1760 Fid. Tr 14.41 1566 Fund Inv 9 92 10 87 Keystone K-2 .... 5.25 5.73 Keystone S-4 .... 4.34 4.72 Mass. Tr 14.39 16.32 Mass. Grth 8 26 9 03 Nation W. Sec. .. 22.73 24.59 Nat. Inves 15.47 16 72 Tevev. El 7.61 8.29 The adult Atlantic mackerel would suffocate if it stopped swimming, since it requires a continuous flow of water to keep its blood supplied with sufficient oxygen. Telegraph Want Ads "CLICK" Training Criticized By SAM DAU'SON AP Business News Analyst NEW YORK (AP)—After 16 years of preparing for jobs, graduates are pouring out of colleges just now—and many are being plunked right into corporate versions of classrooms. Most who already have trav- elled the post-college course of company training say they found it worthwhile. But many are critical of their business-type teachers. Almost all of the 2,000 or so companies that recruit prospects in the nation's colleges—at an average cost of $1,000 per graduate hired—have some sort of program for teaching them the facts of corporate life. The companies, and most of the graduates who have gone through the company mill, give the results high marks in a survey by the National Industrial Conference Board. Endorsed But one of last year's trainees says his most valuable experience was "the training program that I endured." He explains: "I decided if I could put 'up with all that I did on the program, I could put up with anything. And I have. I have been called on for many things that I don't think a well-organized program would have taught me. Like cadets, I wouldn't do it again but I am proud to have gone through it." More typical perhaps was another's appraisal of his company's policy of easing a trainee into a problem and letting him solve it himself. He says: "This self-development gave me the ability to make decisions that were my own, and not decisions that follow from someone telling me how to make the decision." Views of 1,074 graduates who have completed training were tabulated by the conference board. The large majority called their business supervisors capable. But 291 found the instruction weak and without challenge, and 176 labeled the training too academic and short on actual doing. Some echoed the post-trainee who said: "Some supervisors did not understand the purpose of the training program, and showed little or no interest in my presence on the job." "A college education is not essential for success in a training course," another reported, "nor in a job afterwards." 'Exciting' Speaking for the majority was the college grad who sums up this way: "The constant movement from department to department By OVID A. MARTIN WASHINGTON fAP) — Pres dent Charles B. Shuman of th American Farm Bureau Federa tion called today for reorganize tion of the nation's rural powe cooperatives to give member adequate protection of t h e i ownership. He said that most of the cooperatives—organized under th government's Rural Electrifica tion Administration loan and su pervision programs and now will a net worth in excess of $1 bil lion—are organized as simple associations with no provision fo member ownership of capita stock or other transferable equ; ties. The rural cooperatives were praised by the Sullivan, 111., farm leader "for providing the compe tition and much of the capita needed to assure almost complete electrification of the n a t i o n's farms." "The capital credits plan fol lowed by many cooperatives ii merely a bookkeeping transaction. It is not a satisfactory evidence of ownership," Shuman said in an editorial in the farm organization's magazine, "The Nation's Agriculture." 'Neither would it be a deterrent to a clever campaign to sell or give away the cooperative to a private utility company or a public power district," he said. Referring to the fact that most of the cooperatives have depended on government loans provided by the Rural Electrification Administration, Shuman said that "it is widely recognized that those who furnish the capital and the credit will, in fact, control any business. 'Until members are given full ownership rights of existence of the rural electric cooperatives will depend on the whims of politi- made my first year exciting and challenging. Working in various areas made the complex system seem simple, and of course working with new people gives a good insight into the type of people and their feelings about the bosses, the system and their particular jobs. Why did the graduates accept the particular job offer? They give a multitude of reasons. Most often mentioned were: 538 because of the company's reputation and future potential; 483 because of the salary; 408 because of advancement possibilities. Many mentioned all three. And were their expectations fulfilled? Only 25 per cent are dissatisfied with their pay; 28 per cent with advancement possibilities; 22 per cent with job assignments and 12 per cent with their relations with the higher-ups. Young Republicans Oppose Kuchel Talk LOS ANGELES (AP)-The Ex ecutive Board of the California Young Republicans considerec and rejected a resolution censuring Sen. Thomas N. Kuchel, R Calif., for a speech the board disliked. Instead, members introduced a resolution commending the senat or—and then voted overhwelming- ly against it. The result, they explained, was to put the group oh record as re- 'using to commend Kuchel. Kuchel last month attacked political extremists and what he called "fright peddlers." One resolution asked Sen. Bar•y Goldwater of Arizona to accept the Republican nomination for president. Another endorsed the "liberty amendment," which calls for re- )eal of the federal income tax. The board also commended Rep. James Utt, R-Calif., for among other things, demanding that the United States withdraw rom the United Nations. Indians Plan Annual American Council WYALUSING, Pa. (AP) - Indians representing 30 tribes in North, Central and South Amerca have decided, to make the Irand Spiritual and Temporal Council, revived after 208 years, in annual event. ians and the Rural Electrifica- ion Administration in Washing- on will have ultimate control." Shuman said it would be simple or the members to reorganize or .mend their by-laws to provide or capital stock to be issued in ilacc of capital credits or by irect sales to the members. He aid transfers of evidence of wnership could be restricted to nembers of the cooperatives to revent "the capture of the or- r anization by outside interests." Hoffa to be Arraigned Tuesday CHICAGO (AP) - James R. Hoffa, president of the International Brotherhood of Teamsters, began today a busy Chicago week devoted to union conferences and arraignment Tuesday in U.S. District Court on fraud an conspiracy charges. Hoffa and six of seven other defendants have a court date before Judge Richard B. Austin to enter pleadings in response to a 28-c o u n t indictment charging fraud in negotiating of some $20 million in loans from the pension fund for 177,000 central states teamster union members. The regular quarterly business meeting of the union's Central States Drivers' Council and con- 'erences with employers in the 20- state council area began today in the Edgewater Beach Hotel. Thursday and Friday, Hoffa and seven teamster trustees will meet with eight employer trustees n a quarterly business session dealing with the pension fund. In the federal indictment, Hoffa s accused of making false and misleading statements to fellow und trustees about candidates (or oans from the pension fund. THATAWAY MIAMI BEACH, Fla. (/P) — Police carrie upon Albert Ballen- ine as they chased a burglar. Ballentine told the officers, 'He went that way." The police weren't convinced. They arrested Ballentine, 41, on a charge of larceny and break- ng and entering. WE DO OUR OWN FINANCING AT SLACK FURNITURE and APPLIANCE GO. 203 W. Third St Downtown Alton Long; Terms—Many, Many Months to Fay! BIG HAIRSTYLING NEWS: ALTON—Marilyn Coni|>UKim lias joined (lie Imirstyling Matt of tilt; Alton IMuzu Salon at Kdwanl. Miss Com pan mi, Linda Spur- Keon and Carolyn Wurron Invlto this public lo u'l-ur one of their beautiful permanent waves on your vacation. Dial HO 5-1(131 for appointment. —Adv. OWN YOUR SHARE OF AMERICAN BUSINESS Ever think about being a part-owner of some famous American company—a company that makes products you might use every day in your own home? Why not own your share of American business? Serving Alton Investors hi Over 31 Years NEWHARD, COOK 6? Co, MCMBCRt N«W YORK STOCK EXCHANOI Ml SIM Nation*) Ban* Bld|.—Alton FhoMi MO. «•»»»• EUGENE B. SHULTI JOHN E. GREENWOOD Resident Manager R«gwcr«d R«pretcntallv« Our O//ice Is Open Saturday Mornings MAKE FAMILY NIGHT! ALTON SHOP TILL 9 P.M. A & P Food Stores 411 Piasa Biederman Furniture 202-204 Piasa Carson Jewelry 215 W. 3rd Franklin Union •00 E. Broadway Hurwirz Jewelers 312 W. 3rd J & R Auto Stores Spiegel Catalog Desk 400 Belle L & L Furniture 4th and PJasa Bto. Myers Brothers 3rd and Piasa Sta. Paul's Fabrics 206 State St. Sehaeffer's 108 W. 3rd Sears Roebuck Co. 805-23 Plaw Slack Furniture 203 W. 3rd Stone Bros. 118 W. Third St. Thrifty Drug 128 Belle ™ FREE PARKING METERS

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