Alton Evening Telegraph from Alton, Illinois on August 29, 1972 · Page 13
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August 29, 1972

Alton Evening Telegraph from Alton, Illinois · Page 13

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Alton, Illinois
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Tuesday, August 29, 1972
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Bank rates rise, stocks drop down Alton Evening Telegraph Tuesday, August 29, 1972 B-3 NEW YORK (AP) - Price Commission denial of auto price hikes and moves by more major banks to higher interest rates sent stock prices down today. The noon Dow Jones average of 30 industrial stocks FELL fi.39 to 950.56. Declines led advancer, 709-lo-4I9 on the Big Board in moderate trading. The New York Stock Exchange index of some 1,400 common stocks fell .20 to 60.45. At the American Stock Exchange, the price-change index dipped .05 to 26.59. "The general market still has the over-all blanket of higher interest rates wrapped around its skinny shoulders," said Robert Stovall of Reynolds Securities. He noted Bank of America and Manufacturers Hanover Trust, the nation's largest and fourth-largest banks, had joined the move to a 5% per cent prime rate. After th<- Price Commission slapped down price-hike requests by Ford and General Motors, auto stocks were 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 York Exchange closes daily at 2:30 p.m. (Alton Time), so these arc not the closing quotations: Airco, Inc Ifli^ AT&T 43% Clark Oil l!)i,£ General Motors 7N/ 4 Grant (W. T.) Co 37 Kresge- (S. S.) Co 42% McDonnell Douglas .... 34% Mobil Gil Gfi% National Steel -10 Olin Corp 1714 Owens-Illinois 44% Penney (J. C.) Co 80 Sears 102"-;;; Shell Oil Co 4D Squibb Beechnut <)S$j Standard Oil' (Ind.) .... 74V. Standard Oil (N.J.) .... 78% U.S. Steel 29% generally lower. Ford was down 1% to 6614, Chrysler off Vz to 30%, and American Motors down % to 914. GM, which said Monday it might offer the Wankel rotary engine on some cars in about two years, dipped only 14 to 78%. Its Wankel announcement sparked a li^point rise to 48% by Curtiss- Wright, which owns North American rights to the engine. Wheat futures advance By ED T)E MOCII CHICAGO (AP) — Wheat, futures advanced 2 cents a bushel on the Chicago Board of Trade today, but prices in Hie soybean complex and corn and oats were lower. Iced broilers futures were virtually unchanged and trade slow. A good demand for wheat futures by commercial Interest stimulated the, early rise in prices. Sellers were, rather wary and prices generally moved in % cev.s jumps rather than the usual %. There was some fair sized export business expected and p o s s i b 1 c business with mainland China still was a strong talking item. The weakness in soybeans, meal and oil was noted on the opening as commercial interest led a strong selling in o v e . The government reported exports last week of 4.1 million bushels, about half the figure of a year ago. For the season soybeans exports are up some 20 million under last season. September 1 is • the start of the 1973 season. Soybeans eased 2 cents while meal fell §1 a ton and oil lost 15 points. Corn and oats came under commercial selling pressure also. Corn declined nearly 1 cent and oats V/ 2 cents before a small recovery set in. Vehicles pile up Rescue workers try to untangle the wreckage of vehicles which piled up on Highway 99 south of Bakersfield, Calif., Sunday during a dust storm. Some 50 vehicles piled up at this location and another 30 in a separate pileup on Interstate 5. Seven persons were killed and 96 injured. (AP Wirephoto) Cuba leads move in U.N. to brand Puerto Rico as a colony of America FEDERAL SAVING Cash gram A &CERT1.-ICATES '""' CHICAGO (AP) - Wheat No 2 soft red 1.77%n, No 2 hard red 1.76%n; corn No 2 yellow 1.30'/,n; oats No 2 extra heavy white .80n; soybean No 1 yellow 3.48n. Soybean oil 9.95n. No 2 yellow corn'Monday was sold at 1.29. By SHIRLEY CHRISTIAN UNITED NATIONS, N.Y. (AP) — A U.N. committee on colonialism, pushed on.by Communist nations, has decided that Puerto Rico has a right to independence from the United States. Over U.S. charges of interference in its domestic affairs, the Special Committee on Colonialism voted 12-0 Monday to recognize "the inalienable right of the people of Puerto Rico to self- determination and independence." Ten«nations on the 22-member group abstained. The committee asked a working group to study how to extend to Puerto Rico the provisions of the U.N. Declaration Against Colonialism. Puerto Ricans filling the visitors' gallery cheered and Eggs and poultry at St. Louis ST. LOUIS (AP) - Eggs, consumer grades: A large 3140, A medium 24-34, A small 12-23, B large 23-33; wholesale grades: A large 22-25, standard 17-20, medium 12-15, unclassified 8-10. Hens: heavy (6 Ibs and over) 9, medium (5-6 Ibs) 6, leghorns 2. Ready-to-cook broilers and fryers 29.25-29.75 for this week's delivery. Per Ajiiuiiii Prr Annum (Compounded Quarterly )••;: ApeQuijts Insured to gm PASSBOOK EARN FROM THE 1ST Phone 26 MANNS CO. WILL YOU BE AFFORD TO ERWIN MANNS REGISTERED PRINCIPAL P $ FrM ABLE TO $ Patina RETIRE? ILLINI FEDERAL BLDG. ALTON 463-12T2 in up to your money For as linle as $100, earn from 6% to 9'6 % annual interest in your chofee of th» tallowing maturities. MATURITIES INTEREST PAID QUARTERLY INTEREST PAID AT MATURITY 1 YEAR 6% 5 YEARS 7% 10 YEARS 8% 9% 15 YEARS 9'/4% 20 YEARS 8*4% It is possible for investors to lock in yields of up lo 9 1/2 % through ownership of senior rank- infj coiporule promissory notes issued by' Associates First Capital Corporation. Associates is primarily engaged in consumer and coniiiiorciul lending and financing, and in- suiunce 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 near- <st Associates Financial Services office (a subsidiary of the issuer). Or mail this coupon. Associates First Capital Corporation Soulh Bend Office, Dept. C 1700 Miihuwuka Avenue South Bc,'nd, Indiana 46624 lend mi: complete information about Investment including the Prospectus and mail application. NAME_ AODktSb Associates t Capital Corporation CIIY STATE Zip '• ' ' '•'• '<"••• Ca!i:»niiu, Colorado, FlQ.ido, Gturgla, Iliinoib Indiana, Iowa Kontiij"" iigMiUJ. Nt-bratlw, uluo, OUdhcrn*, Penni/lrauia, Tinnuiec, Ttuat, Wisconsin K.lM,lui.k/, Lou applauded, the outcome. They had more applause for Cuban Ambassador Ricardo Alarcoh, who has made a personal campaign out of branding the United States a colonial power occupying the Caribbean island. "The final stretch in the road of independence has begun," declared Juan Mari- Bras, a leader of the Puerto Rican independence movement. Marl-Bras said the action clearly classified Puerto Rico as a colony. But a U.S. spokesman said the wording of the resolution was ambiguous. He stressed that the matter was being referred to a working group and that no report was asked until 1973. I n Washington, State Department officials said tfle decison was "an insult to the people of Puerto Rico, who have chosen to live in a democracy under a constitution of their own choosing in free association with the United States." China and the Soviet Union gave the Cuban ambassador support in the debate. Chang Yung-kuan, the Chinese delegate, said Puerto Rico "is, in fact, a colony of the United States and the Puerto Rican people's struggle for national independence is a just one ..." The action applies only to the committee and not to the United Nations as a whole. A year ago Alarcon tried to bring the Puerto Rican question before the 132-natioa General Assembly, but failed by a wide margin to get the necessary vote to put it en the agenda. Speaks 5 languages, has 2 doctorates, but is janitor By TOM RAUM TALLAHASSEE, Fla. (AP) — Giorgio Lena, an Italian immigrant who holds two doctorate degrees and speaks five languages, came to America to move minds but wound up moving furniture. Lena, 56, wears gray coveralls to work at Florida State Second tax payment due Thursday Alton City Treasurer M. 0. Elliott said today that the second installment on city real estate and personal property taxes are due Thursday, but should be paid directly to the county treasurer's office in Edwardsville. Elliott said when the second installments are paid at his office there is an undue delay in forwarding them to the county treasurer — a delay which may cause the taxes to become delinquent. Livestock prices at East St. Louis NATIONAL STOCKYARDS, 111. (AP) — Estimated receipts for Wednesday: 5,000 hogs, 500 cattle and 200 sheep. Hog receipts 6,500 head, butchers 25-50 higher and sows steady to 50 higher. US 1-3 200-250 Ib butchers 29.0029.50. US 1-3 300-350 Ib sows 26.75-27.50; 350-400 Ibs 26.3026.25; 400-500 Ibs 26.00-27.011; 500-600 Ibs 2600-26.50. boars 22.50 with weights under :'oO Ibs 23.00-23.50. Cattle receipts 1,600 head; moderately active, slaughter steers steady to strong, slaughter heifers steady Cows weak to 50 lower; bulls steady to weak. Slaughter steers: high choice and prime 1100-1200 Ib yield grade 3-4 35.00-35.50, couple loads 12 50 Ibs 36.90, choice 900-1150 Ibs 33.75-35.00. Mixed good and choice 32.5033.75. Slaughter heifers: high choice and prime 850-950 Ibs yield grade 3-4 33.00-33.50, choice 800-1000 Ibs yield grade 2-4 32.50-33.00, 750-800 Ib 32.0J- 32.51), mixed good and choic* 31.5U-32.50. Cows: utility and com- miTfial 23.50-25.50, few utility 26.00, cutter vealers; choico 40.UII-4S.UO. Sheep receipts 200 head: IVw sold steady; bulk unso'ri. Few choice and prime spring slaughliT lambs 90-110 Ih; 29.00. Utility to choice slaughter ewes 5.0U-7.00. University, where he earned his second Ph.D and now serves as a member of the school's maintenance staff. "It keeps food on my table," he explained With a Ph.D in literature from the University of Turin in Italy and another in Spanish from Florida Stale University, Lena said ha applied to 1,300 American and Canadian universities during the past two years for a teaching job — and didn't get a single offer. "They all sent back very, very kind letters, all telling me that because of cuts in their budget they had no job forme," Lena said. Lena showed up in his work coveralls and a straw hat Monday at a news conference in a local Baptist church called by Sen. Ed Gurney, R- Fla. Gurney summoned reporters to announce a federal program to find jobs as congressional aides for out- of-work senior citizens. After Gurney finished his announcement, Lena rose from his seat and described his educational background. "It has been impossible for me to find a job," he sa;d. "Is there anything in your program for people like me?" Gurney, appearing stunned, first replied, "I'm not sure the program was designed for anyone with problems such as yours." However, after consulting with an official of the Jobs for Older Americans program, he told Lena there might be a spot for him. Lena studied and taughi languages in Italy, Uruguay and Sweden before coming to America in 1967 to work on a doctorate at Florida State. Corbett's trial is delayed until after election SPRING FIELD — Sangamon County Circuit Judge J. Waldo Ackerman today granted a request from State Rep. Jerry Corbett, Dem.-Hardin that Corbett's trial on official misconduct and violation fo state purchasing act be scheduled after the November election. After listening to objections from Assistant State's Attorney Arthur Inman, Judge Crime rate up sng JL rr 1 in Illinois WASHINGTON (AP) Crime in Illinois increase J only slightly in 1971, well below the national increase of 7 per cent, the FBI reported Tuesday. An estimated 274,320 crimes were committed in Illino's lust year compared with 260,588 in 1970. More than two-thirds of :hc j Illinois crimes occurred in Chicago and environs, an area which encompasses the counties of Cook. Du Page, Kant 1 , Luke, Mcllenry und Will. The crime index per JUU.IW population wa.s 2,450.? in 197!, compared with 2,347.1 in 1970. Ankerman moved Corbett's trial from the scheduled Sept. 5 date to Nov. 13 — after Corbett's race for election to the state senate. Ackerman earlier had said he would probably move the date but insisted on Corbett being present and personally asking for the change in his trial "In view of the fact that this is important to you personally," Ackerman told Corbett, "1 wanted you to be here and. make the decision." Ackerman explained that ho felt the delay coulcl hurt Corbett politically and the judge did not want to be responsible for hurting him unfairly. Inman said the right of the public to know whether the people do have enougii evidence to convict Corbett should outweigh any unfairness which an earlier trial would bring to Corbett. Robert H e c k e n k a m p . Corbett's attorney, accused Inman of manuevering 'he trial so that it would be held before Corbett's election for slate senator. Inman denied the charge. Corbett is charged with allegedly violating ihe state purchasing act in the selling of cars from a family auto agency to Secretary of State Paul Powell wh^le Corbett served as a legislator. Obituaries Henderson Mrs. Eunice Macatheryn Henderson, 69, of 408 Emerald St., Alton, died at 12:25 p.m. Monday at the D-Adrian Convalescent Center in Godfrey. Mrs. Henderson, a former employe of St. Joseph's Hospital, had been ill for several years. Godwin of Alton; three son'', Joseph Jr. of Birmingham, Ala., Donald Eugene of Godfrey and Richard B. of Madison, Conn., nine grandchildren; and a sister, Mrs. Charles Mitchell of Aurora. 111. Friends may call after 1 p.m. today at Smith Funern! Home in Alton, where funeral services will be at 11 a.m. Wednesday with the Ruv. Raleigh Gordon officiating. Burial will be in Upper Alton Cemetery. The Building Fund of the East Alton First Baptist Church has been named as a memorial. Peter's Lutheran Church, where friends may call after noon Thursday. The Rev. Otto Horstman will conduct the services and burial will be in Prairietown Cemetery. Rain Stout Mrs. Eunice Henderson She was born March 22,. 1903, in Jackson, Tenn. and her husband, Lacy J. Henderson, preceded her in death. Surviving are two daughters, Mrs. Janice Holmes and Mrs. Bernadine Swanson, both of Alton; ah adopted son, Robert Northern of Alton; a foster daughter, Mrs. Lillian Withrow of Alton; a stepson, Melvin L. Henderson of Hopkins Park, 111.; three brothers, Rodger, Frank T. and Vular Manley, all of Alton; two sisters, Mrs. Lula Penny of Iowa City, Iowa and Mrs. Beulah Smith of South Bend, Ind.; 17 grandchildren; five great-grandchildren; nieces and nephews. She was a member of the Belle Street Temple Church of God In Christ, where friends may call from 5 to 9 p.m. Friday. Funeral services will be at 11 a.m. Saturday at the church and burial will be in Upper Alton Cemetery. Andrew B. Stout, 62, died at 8:30 p.m. Monday at his home at Poplar Trailer Court in Godfrey. He was born in Kaskaskia, 111., May 10, 1910 and came to Alton in 1946. He served 3% years in the Navy during World War II He married the former Maxine Lowe Dec. 19, 1953 in St. Louis. Mr. Stout was a machinist at the Godfrey Machine Shop of Owens-Illinois Inc. for 20 years. Surviving are his widow, Maxine; and three sisters, Miss Helen Stout of St. Louis, Mrs. Rowena Frankie and Mrs. Mary Walters, both of Alton. Friends may call from 7 to 9 p.m. Wednesday at Staten Funeral Home, where funeral services will be at 1 p.m. Thursday with the Rev. Paul S. Krebs, officiating. Burial will be in Rose Lawn Memory Gardens, Bethalto. A former Upper Alton Businessman, Irl D. Rain, 77, of 1051 Atlantic Shores Blvd., Hallandale, Fla., died Monday afternoon at the Memorial Hospital in Hollywood, Fla. He moved to Florida 15 y e a r s ago after his retirement. Surviving are his widow the former Mildred Smith of Alton; a daughter, Mrs. Betty Parson and a son, Gary, both of San Antonio, Tex.; grandchildren; nieces and nephews Funeral services will be Wednesday at the Fred Hunter Funeral Home in Hollywood, Fla. and burial will also be in Florida. Scopel Kuethe Glassey Joseph Marion Glassey, 64, of 2211 Mills Ave., Alton, died at 12:55 p.m. Monday at Wood River Township Hospital after a six-month illness. Mr. Glassey was employed in the security division of Olin Corp. since 1941. He was born in Hallidaybo'ro, 111. on Feb. 25. 1908, and married the former Mildred Treat in West Frankfort, 111. on Feb. 16,1932. He was a member of Uie First Baptist Church in East Alton, where he had served as deacon and trustee. In addition to his widow, Mildred, he is survived by a daughter, Mrs. Kathryn PRAIRIETOWN - Herbert F. Kuethe, 77, a retired farmer of Prairietown, died at 9:20 p.m. Monday at Community Memorial Hospital in Staunton. He was bom May 25, 1895 in Moro and married the former Ida Peters on June 9,1921 in Wood River. Surviving are his widow, Ida; a daughter, Mrs. Ralph (Irene) Kline of Glen Ellyn, 111.; a son, Melvin of Littleton, Colo.; six grandchildren; a brother, Emil of Staunton; and a sister, Mrs. Lena Schoenebaum of Bethalto. Mr. Kuethe was a member of St. Peter's Lutheran Church in Prairietown, where he had served as an elder. He was also a member of the Madison County Farm Bureau where he had served as a board member. Friends may call after 4 p.m. Wednesday at the Williamson Funeral Home in Staunton. Funeral services will be at 1:30 p.m, Thursday at St. BENLD — Arthur Scopel, 67, of 2308 Hendrix Drive, Columbia, Mo., and formerly of Benld, died at 1 a.m. today at the University of Missouri Medical Center. He was born Aug. 27, 190!) in Benld. Surviving are his widow, the former Nettie Anderson; a son, Tom of Brentwood, Mo.; a daughter, Mrs. Judy Wilson of Gillespie; four sisters, Mrs. Angelina Gallo and Mrs. Hilda Vercoglio, both of Benld, Mrs. Rena Rosa of Mt. Clare and Mrs. Bruna Pierard of Decatur and four grandchildren. Funeral services will be at 1 p.m. Thrusday at the Union Funeral Home in Benld with the Rev. Arthur Hurry officiating. Burial will be in Benld City Cemetery Fridns may call after 5 p.m. Wednesday at the funeral home. Additional survivors In addition to the survivors listed in Monday's obituary for Dwight L. Moody, he leaves a son, the Rev. Theodore Moody of Spring Valley, Calif. The name of Freddie Geisler was omitted from the survivors in Monday's obituary for his father, Lester C. Geisler Jr. of Shipman. In Saturday's obituary for Dennis Clayton Chontofalsky, the name of his sister, Carolyn Chontofalsky was omitted from the survivors. Ford, GM denied car price hikes WASHINGTON (AP) - The Price Commission today denied requests by Ford and General Motors for price increases on their 1973 models. Commissioner Chairman C. Jackson Grayson Jr. said the request of the two giant automakers was being denied because the commission has determined that the increases could push the profit margins of the two firms beyond permissible limits. The decision meant that consumers could expect to avoid a price hike on GM and Ford ears at least until November. Grayson said that the two companies may resubmit requests after profit figures are in for the second quarter of their fiscal year. Ford, in a request revised this week, had asked for a $59 or 1.79 per cent increase. The request covered safety Lewis &* Clark registration totals 2,145 Fall registration at Lewis and Clark Community College reached 2,145 at the close of the regular registration period on Aug. 25. Terry Cross, director of admission;- and records, said today that this compares with an enrollment of 1,840 lust fall, or an- inciva.se of 305 students. Lute registration at the college is being hold at Alden Hall this week from 9-12 and 1-4 p.m. through Sept 1, and from (5:30-8 p.m. through Aug. 31. equipment and emission controls. General Motors had asked for a $54 or 1.53 per cent boost for the same purpose. Chrysler Corp. and American Motors also have requests pending before the commission. ALTON JOSEPH MARION GLASSEY Visitation after 4 p.m. today. Services 11 a.m. Wednesday at the funeral home. Alton, Wood River, Bethalto Come 'I' I o Your r/ CREDIT UNION For Back-To- School Expenses

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