Alton Evening Telegraph from Alton, Illinois on August 24, 1972 · Page 27
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Alton Evening Telegraph from Alton, Illinois · Page 27

Alton, Illinois
Issue Date:
Thursday, August 24, 1972
Page 27
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B40 Alton Evening Telegraph Thursday, August 24, 1972 D-J index slips, prices drift down NEW YORK (AP)-Stnck market prices drifted lower today, while the cost of business-borrowing went tip at the nation's third-large.'! bank. The noon Dow Jones average of 30 industrial stocks was off 1.51 at 968.84. Among issues traded on the New York Stock Exchange, declines took a narrow lead 18 selected stocks Following are today's noon quotations of New York Stock Exchange issues research has indicated are widely held in the Alton area as supplied to the Alton Telegraph by Newhard Cook & Co., from its Alton branch office. The New Vork Exchange closes daily at 2:30 p.m. (Alton Time), so these are not the closing quotations: Airco, Inc AT & T Clark Oil General Motors Grant (W.T.) Co Kresge (S.S.) Co 43».J McDonnell Douglas .... 341.4 Mobil Oil 67U, National Steel 40& Olin Corp 17^ Owens-Illinois 4?i<4 Penney (J.C.) Co 81^ Sears 1031,4 Shell Oil Co 4914 Squibb Beechnut 10Ji£ Standard Oil (Ind.) .... 75 Standard Oil (N.J.) .... 7J*% U.S. Steel 30% at East St. Louis Livestock prices NATIONAL STOCKYARDS, HI. (AP) — Estimated receipts for Friday: 3.500 hogs, 200 cattle and 50 sheep. Hog receipts 4,500 head. Butchers moderately active, steady to 25 lower. Weights over 250 Ibs scarce. US 1-2 210-240 Ibs 29.00-29.25; US 1-3 200-240 Ibs 28.75-29.00; US 2-3 220-260 Ibs 28.50-28.75; US 2-4 280-300 Ibs 27.25-27.75; 260-280 Ibs 27.75-28.50; US 3-4 300-330 Ibs 27.00 27.25. Sows steady to 25 lower, instances 50 lower. US 1-3 300-350 Ibs 26.00-26.50; 50 head shipment US 1-2 near 310 Ibs 27.25; 350-400 Ibs 25.5026.00; 400-600 Ibs 25.00-25.25. Boars 22.00; weights under 350 Ibs 2300-23.50; 40 head shipments near 215 Ibs 24.25. Cattle receipts 12 head. Supply on open market mostly cows; these 50 lowers. Cows: utility and commercial 24.0026.50, few utility 27.flO; cutter 23.50-26.00; canner 21.50-23.50. Bulls: utility, commercial and good 30.50-32.00, few 32.50 Vealers: choice 48.00-50.00; good 44.40-46.00. over advances. Analysis said the move by Chase Manhattan Rank, thir.1- largest U.S. bank, raising its primp lending rate to 5y 2 percent from 514 per cent, had been anticipated for several days on Wall Street an.i should not have much impact on the stock market. At noon the New York Stock Exchange index of more than 1,400 common stocks was fil.84 off .14, while the American Stock Exchange price-change index was 26.83 off .03. MANNS CO. CREATE A SECOND PAYCHECK THROUGH A MUTUAL FUND WITHDRAWAL PLAN Free Parking ERWIN MANNS REGISTERED PRINCIPAL ILLINI FEDERAL BLDG. ALTON 463-1212 Soybean futures strong By ED DE MOCII AP Business Writer CHICAGO (AP) — Soybean ;ind grain futures prices were strong on the Chicago Board of Trade today. Two wheat options, March and May next year, traded at 2.00. The March option touched that mark Wednesday for the first time in six years. The demand for wheat futures was mixed but brokers for export interests and commission house were in the forefront. A trong interest in wheat futures appeared to influence buying in com and oats. But the weather also was a factor in the corn pit. Deferred options were particularly active, advancing nearly 2 cents. There was a strong demand also for the three commodities in the soybean complex. CHICAGO, Board Trade add, deleting last graf: trade. After the midsession, soybeans were 1% to 2% cents a bushel higher, September 3.46; wheat was 1 to 1% higher, September 1.89^; corn was 1% to 1% higher, September 1.28% and oats were 1J/& to V/ 4 higher, September 81% cents. Cash grain CHICAGO (AP) - Wheat No 2 soft red 1.85%n, No 2 hard red 1.82 %n; corn No 2 yellow l.SOn; oats No 2 extra heavy white .83%n; soybeans No 1 yellow 3.551/jn Soybean oil 9.98n. No 2 yellow corn was sold at 1.28 Wednesday. New 1973 Javelin American Motors' Javelin for J97S iVaMires a new smooth-roof design with optional vinyl roof treatment covering the car (op and rear pillars. A new recessed plastic grille with rectangular park-turn lights and new twin-pod tail lights are other features. Bucket seats are standard. Instruments and controls are arranged in an aircraft-type cockpit. Dodge Charger -^—..KmuHv.Hi.HMMMnHI IM ., Mww*Mai*mwr**we* imt»mUWmi\mUiini,Vt>WM VK&USfXSW *'T . . . .*...., . Ihe intermediate-size 1973 Dodge Charger has a new Torsion Quiet ride because of suspension changes and sound isolation material, particularly in the Charger S.E., which is identifiable by the limvered quarter panel windows. Other new features include standard electronic ignition, the latest in emissions control engineering and new 5 mph front and 2'/ 2 mph rear barrier impact protection system. Plymouth Sebring ^rh^tfWfo- '.(/...^v • I f»» / "ft r v I/ S » *N V« «V- »>$.A»\ M > « -1V U'' ! \ Plymouth's Sebring Plus two-door hardtop for 1973. The intermediate-sized car has a standard electronic ignition system and disc brakes. Options include halo- typo vinyl roof and factory-installed sliding roof. Germania expands lending to include household items Germania Federal Savings and Loan Association has expanded its lending program to include loans for the financing of furniture, appliances and other household items. This nnounccintnt li MlUicr u offtr to sell, nor a solicitation of an offer to buy these securities. TJie offer Is made only by the Prospectus. NEW ISSUE: ASSOCIATES FIRST CAPITAL INVESTMENT NOTES lock in up to on your money For as little as $ 1 00, earn from 6% to 9'/2 % annual interest in your choice of the following maturities. MATURITIES INTEREST PAID QUARTERLY INTEREST PAID AT MATURITY 1 YEAR 6% 6% 5 YEARS 7% 8% 10 YEARS 8% 9% 15 YEARS 8*4% 9'/4% 20 YEARS It is possible for investors to lock in yields of up to 9y2°/ 0 through ownership of senior ranking corporate promissory notes issued by Associates First Capital Corporation. Associates is primarily engaged in consumer and commercial lending and financing, and insurance underwriting, through subsidiaries which have over 1,000 offices throughout the United States and Canada. For information and a free Prospectus, call Area Code 800-348-7701 toll-free during normal business hours. Or contact your nearest Associates Financial Services office (a subsidiary of the issuer). Or mail this coupon. Associates First Capital Corporation South Bend Office, Dept. C 1700 Mishawaka Avenue South Bend, Indiana 46624 Please send me complete information about Investment Nates including Hie Prospectus and moil application. NAME. ADDRESS. Associates First Capital Corporation CttY _STATE_ _ZIP .l:: cl AUbami, Ariiou, Calitarnia, Coloudo, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, MinnowU, kioluaaka, Ohio, Oklahoma, PaniuyUanii, Tcnnerae, THUS, Witconiln The new home equipping and modernization loan program went into effect at Germania Federal at the beginning of the month, when the liberalized regulations were approved by Federal supervisory authorities, W. G. Osborn, president said. The new program authorizes a federal savings and loan association to make loans for home equipping and modernization that it previously could not finance. The entire cost of new household items may be financed, excluding finance and legal expenses, but the loan amount cannot be less than $150 or more than $5,000. The maximum term of the household loan at Germania Federal may be for as long as 10 years and 32 days with an annual percentage rate of interest of less than 11 pel- cent. Osborn said they are op- timistic about the new loan program and expect many homeowners with their home loan at Germania Federal to take advantage of the new loan plan. "The new home equipping and modernization loans will permit borrowers to finance household furnishings at the same financial institution that made their home loans and at a lower rate of interest than they may otherwise pay," he said. In other Germania news, James K. Vance, vice president and treasurer, graduated from the graduate school of savings and loan at Indiana University, Bloomington, Ind. The school, conducted by the American Savings and Loan Institute in co-operation with Indiana University, is a t h r e e - y c a r educational program for persons in managerial and supervisory positions in savings and loan associations. McGovern apologizes to Daley By F. RICHARD CICCONE CHICAGO (AP) - Sen. George S. McGovern came to Mayor Richard j. Daley "to heal the wounds" caused by the Democratic National Convention and he brought the right medicine. McGovern made Wednesday what amounted to a public apology for Daley's eviction j'rom the convention and also promised that he and his running mate Sargent Shriver, a former Chicagoan, will visit Illinois several times during the campaign. If the 70-year-old Daley harbors any resentments from the convention, he did not show it when he joined McGovern at a news conference and promised the strength of his Cook County organization will work for the national ticket. McGovern's pledge that the top of the ticket will campaign personally in Illinois • also helped soothe any ruffed feathers of Daley. The mayor has often expressed bitterness that Sen. Hubert H. Humphrey made only three o n e- stop visits to Illinois in 1968 and subsequently w a s defeated in the state by President Nixon. Humphrey's loss also dragged down Democrats at the state level and Daley, to avoid a repetition of the 1968 losses, appears willing to turn out his 30,000 party workers on McGovern's behalf if the presidential candidate can help the ticket in Illinois. "We will carry Illinois in November," Daley told a news conference called after the two men had their first meeting since the convention, when a group of challengers led by independent alderman William S. Singer and the llev. Jesse Jackson won Daley's seats with the support of McGovem's forces. Significantly, McGovern told the news conference he had not contacted either Singer or Jackson and added, "I have no plans to do so." McGovern said the convention snub of Daley was "past history. We're here to heal our wounds .•• here to present a united front." Daley introduced McGovern as "the next president" and promised a strong effort for the national ticket. McGovern said Illinois was a critical state and he would work "closely with the. mayor" during the campaign. He also said Daley gave him some suggestions. "The mayor doesn't give advice, he gives suggestions which I find are worth listening to...." The news conference lasted seven minutes and Daley ushered out the Democratic standard bearer. Both men described their hour-long luncheon meeting as "cordial." Stans denies he ivas involved Senate committee to probe state's child care system CHICAGO (AP) - A six- man Illinois Senate subcommittee has been named to investigate the state's child are system. In announcing the formation of the committee Wednesday, Sen. Bernard Neistein, D-Chicago, said the group will begin hearing testimony next week. Neistein said formation of the c o m m i 11 o e was precipitated by the Johnny Lindquist case. Johnny. 6. is hospitalized in critical con- Protesters arrested Police move in to arrest protesting militants for refusing to disperse from the entrance t<i the Doral hoteJ, headquarters for the Committee to Heeled the President, hi Miami Beach Wednesday night. (AP Wire- photo) Madison County to pay hour rates for SIMAPC review EDWARDSVILLE — Madison County will pay hourly rates ranging from $3.66 to $9.76 for review of the 1969 land use plan by Southwestern Illinois Metropolitan Area Planning Commission staffers, the Telegraph has learned. The county could pay a maximum of $5,000 to SIMAPC under the terms of a contract approved Aug. 16 by the Madison County board. SIMAPC will advise the Madison County Regional Planning Commission during the review of the land use plan, which was completed in December, 1969, at a cost of $56,000 in federal, state and county funds. SIMAPC service charges vary from $3.66 for a printer, 4.25 per hour for a typist, $4.65 for a Class Two draftsman, $6.19 for a Class Two planner and graphics supervisor, $8.40 for a Class Three planner and $9.76 for a Class Four planner. In addition, there will be dition as the result of a beating he received alter he was returned to his natural parents from the care of foster parents. His natural father, William, 31, has been charged with aggravated battery. Sen. Cecil A. Partee, president pro tern of the Senate, told the subcommittee to investigate all aspects of child care and children's rights. He also suggested a study of the rights and responsibilties of natural and foster parents. in break-in MIAMI BEACH, Fla. (AP) —Maurice H. Stans, finance chairman for President Nixon's campaign, has denied that he had anything to do with the Democratic headquarters break-in case. In a brief interview on CBS television Wednesday night, Stans said he was certain he would not be involved in any grand jury indictments in the case but that he "may be a witness against others." Stans wws linked to the June 17 break-in when a $25,000 campaign check given to him by a regional fundraiser wound up in the bank account of Bernard Barker, one of the five men arrested in the Democratic National C o mm i 11 e e offices in Washington. "I had the check in my hands for about three minutes and passed it on to my treasure r who certainly passed it on elsewhere, and I cannot account for why it went into the Barker bank account," Stans said. He was referring to Hugh Sloan Jr., who was treasurer for the Finance Committee to Ke-Klect the President, but has since quit. Democrats have been attempting to make the break-in a major campaign issue. But the time involved in legal processes apparently will keep some aspects of the case from being completed until after the Nov. 7 election. costs for printing the final version of the 32-month-old land use plan. The Telegraph had requested SIMAPC officials to provide the cost data more than two weeks ago but the officials had declined to release the figures until Theadore Mikesell, SIMAPC director, returned from vacation. Since taxpayer's funds will be used to pay SIMAPC, the service charges are a matter of public record. At a meeting Wednesday between the county planning commission and SIMAPC in Collinsville, it was announced that meetings on the land use plan proposal will begin in September. Edmund Morrisey, chairman of the county commission, asked SIMAPC officials to notify citizens and organized groups about the series of informational meetings. Ronald Darden, a SIMAPC planner, had suggested that the four- member county planning commission should invite opponents and proponents of the land use plan to present their views. Among the various groups which will be invited to the meetings are the Madison County Citizens • Environmental Council, East- West Gateway Co-ordinating Council, area chambers of commerce, Illinois Division of Highways and Southwestern Illinois Council of Mayors. Also, Robert Koepke, a Southern Illinois University at Edwardsville geography professor who has studied the American Bottoms region, will be invited. U.S. Housing and Urban Development officials will be asked to appear. HUD officials have slated that Madison County should include its land use plan in the St. Louis area plan which will .be completed Dec. 31,1972. Darden said actual review of the 1969 plan should begin in October. Unit 100 tax levy is five per cent higher this year By MARY IIAZELWOOD Telegraph Staff Writer JERSEYVILLE — The Unit 100 School Board Wednesday night approved a tax levy of $1905,400 for the 1972-73 school year which represents a raise of about five per cent over the levy for the present year. However, it was emphasized that in no case can the dollar levy exceed the statutory limits for the various funds in the district. For example, with the education fund rate set at a maximum of Sl.f.O by referendum the tax ex tension per hundred valuation may not exceed this amount. The education fund's tax on the 1971 taxes now being collected was $1.75. The 1971 levy was $1,814,100. Total assessed valuation of he school district stands at $65,830,131.60. However schools stand to be hit hard financially if the personal property funds held in escrow are returned to the taxpayers since about 1-6 of the assessed valuation is in person?.! properly. One of three citizens who attended the budget hearing just prior to the regular meeting, Earl Hutte of 'the Farm Bureau board, complimented the board on its good fiscal control in holding estimated expenditures for the next year at $50,000 over those for this year. Board member William Gihnan commented that in his 13 years on the board, thi< marked the secondt ime that any citizen had showed up for the; budget hearing. On one other occasion, he said, one person showed up. In other business, the board referred to the administration a complaint presented by Attorney Norbcrt Goetlen involving a student who has been denied bus transportation on the grounds that the student lives within the l J /& mile area where the board does not furnish transportation. T h e discussion finally evolved around language of the statutes which says that the distance shall be determined by the "customary route of travel." Home looted A total $37 was stolen in a burglary of the Lee A. Reddish home at 705 MiKon Road, it was reported to police Wednesday afternoon. Rental firm Is bombed No injuries were reported Wednesday ivlu-n a bomb exploded in a large television rental^ lirni iii Ihe center of Belfast, Northern Ireland. (AI J H'irephoto)

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