Arizona Republic from Phoenix, Arizona on June 30, 1973 · Page 157
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June 30, 1973

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Arizona Republic from Phoenix, Arizona · Page 157

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Phoenix, Arizona
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Saturday, June 30, 1973
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~. AtL EDITIONS - ' D-2rt The Arizona Republic Phoenix, Sat., Jam 30,1973 The daily investor Premiums yield AAA's I By DON G. CAMPBELL \ So, okay, there really is a pot at the end of the rainbow. |ut the question is: What's in it? Dead fish? Somebody's dolled laundry? Four quarts of unstirred mush? Or, maybe U really IS gold — or something almost as good as gold, such 4s a corporate bond yielding 9Vz per cent and rated AAA? * Q: I read your column all the time and some weeks ago Jjou mentioned 9% per cent return on gilt-edged bonds. ._ ------ - — ' I presume the bond were AAA, AA, A or something nearly as good. My father is retired and living on his Social Security and VA pension. He has $20,000 in 6 per cent certificates of deposit. Also, some $7,000 in a local savings bank at 5 per cent compounded monthly. Since the cost of living has gone up so much, he would like to use this $20,000 to get a better interest rate. He has three tax exemptions, so federal income is no problem. A: I appreciate your loyalty, but you should have hung onto the earlier Don Campbell column for reference just to keep both of, us honest. There's no way that I could have mentioned "gilt-edged" bonds yielding 9% per cent. It's a little like referring to a "risk-free" roulette wheel. As I recall the column, in fact, I was knocking down a reader's argument that he could,, indeed, put his money into "gilt-edged" bonds yielding this much. Sure, you can find bonds yielding Wz per cent — and even more — but you're also going to find them rated, at best, either BBB or BB. Would you buy 7% per cent? That's pretty well in the ball park for the sort of bond (AAA, AA or A) that your father should buy. As an aside, or course, I should mention that there are, indeed, some AAA, AA or' A bonds yielding more than 7 J /fe but, in those instances, you'll also find that they are selling at a premium that effectively offsets the higher interest. * * # Q: I would like to know where in my area I can buy U.S. Government bonds directly from a government agency to .avoid paying an agent's fee. I am interested in bonds that are yielding more than 7 per cent. A: Uncle Sam's old, reliable E bonds are almost as easy to buy as a loaf of bread — banks, savings and loan associations and various other financial agencies sell them directly without any fee. He bonds are, technically, available only through Federal Reserve Banks, their branches, and the, Office of the U.S. Treasurer, but banks and other financial institutions will accept, and forward, applications for H .bonds without charge. Both of these, however, yield only 5 ] /2 per cent when held to maturity and if you're looking for interest rates better than 7 per cent— and with Uncle Sam's imprint on them — you're going to have to go into some of the more obscure govermental agencies and quasi-governmental agncies which issue their own bonds, notes and bills. | * * * Q: I recently bought $10,000 worth of mortgage notes through my broker and they are rated "A" by Fitch. My question is: How does Fitch rate such securities? A: Fitch, Standard and Poor's and Moody 's all operate in 'a similar fashion in determining the credit worthiness of I corporations (and municipalities) issuing bonds — how well they've paid off bonds in the past being a key factor here, of course. In Fitch's specific case, "Investment Grade" bonds are defined this way: AAA ("maximum safety"), AA ("very high grade"), A ("high grade") and BBB ("good grade.") Q: In the past, as you know, dividends on many utility stocks have been free (or a percentage free) from ordinary income tax because they were regarded as a return of capital'. With recent changes in the tax laws to reduce, or eliminate, this feature, how will this be likely to affect the price structure of such stocks? Up, down or not much change? A: The new requirements on how utilities must report the!ir retained earnings, or surplus (and, consequently, their dividends) will have their initial impact this summer even though the bookkeeping changes were a part of the 1969 tax reform act. i Most brokers knowledgeable in utility stocks seem to take thd position that the change will have little influence on utility sto(ck prices since, after all, the development isn't popping up; as a last minute surprise to anyone, and the feeling is that the market has already discounted the impact of it pretty well. Questions for Campbell should be sent to United Features Syndicate, 230 E. 42nd St., New York City 10017. CHICAGO (AP) - Soybeans, meal and oil futures prices fell the daily limit on the Chicago Board of Trade Friday but new :rop options later recovered. New crop wheat advanced the imit of 10 cents a bushel at one time but backed away at the close. Corn futures advanced, iut oat prices were mixed. Iced broilers were also mixed after a session of light trade. The limit selloff in the soy- jean complex followed a one day halt in trading. The govern- Rubber Workers will vote j* on new Firestone contract Wheat and corn near limits higher at finish Livestock Furnished by the U.S. Department of Agriculture. Livestock Division) Market News Service. PHOENIX-Slaughter steers were steady to 25 cents lower; slaughter leifers steady, but not well tested In •ecent weeks. Good demand for slaugh- *er steers from both Arizona and Call- ornla packers, but late demand limited mostly to Arizona packers. Trading opened slow on Monday but turned moderately active Tuesday and Wednesday. Arizona packers bought 60 per cent of confirmed sales volume with most of balance to California with 5 loads reported going East. No sales feeder cattle confirmed. KANSAS CITY (AP)-Cattle 100; not enough any one class on offer for an adequate price test. Earlier In the week, high choice and prime steers 47.25; mostly choice 46.0047.00; choice heifers 45.00-46.00. .Hogs 1,200; barrows and gilts 25-50 ligher; 1-3 200-250 Ib, 40.50-41.00; 2-4 250-270 Ib, 39.75-40.50; 280-300 Ib, 38.2539.25! sows scarce, uneven, under 500 b, 75-1.25 lower; over 500 Ib steady; -3 360-500 Ib, 33.50-34.50; 2-3 500-400 Ib, 34.75-35.00. Sheep 25; not enough any one class on offer for an adequate price test. Estimates for Monday: cattle 1,500; hogs 3,500; sheep 500. OMAHA (AP-USDA) - Livestock quo- ations Friday: Hogs: 4,500; barrows and gilts; 1-3 90-250 Ib, 40.50-41.00; some uneven weights 40.25-40.50; 2-3 250-270 Ib, 40.0010.50; 2-4 250-270 Ib, 39.25-40.25; 2-4 170-320 Ib, 37.50-39.50; 320-340 Ib, 36.7538.00. Sows 350-500 Ib, steady; 500-600 b steady to 25 lower; 330-600 Ib, 34.25- Caitle and calves: 400; supply mostly cows, these steady; utility and commercial cows 32.00-33.50; a few individuals up to 34.00; canner-cutter 29.00-32.CO. Sheep: none. Estimated receipts Monday: Cattle and calves 7,000; hogs 6,000; iheeo 500. ment bad put a ban on exports of these commodities, and the exchange wanted time to evaluate the action. Some fairly active buying developed after the opening in soybeans, soybean meal and oil and the early losses were rimmed. The new buying in the soy- jean complex also was reflected in grain futures. New crop options turned strong in grains a few minutes after the open- ng. It appeared that the trade expected the government not to put controls on exports after the 1973 crops are in. At the close, soybeans were some 15 to 80 cents a bushel lower, July 10.00; wheat was up cents, July 2.68%; corn was up some 7 cents, in new crop months July 2.15^ and oats were mixed July 89 cents. aa* 318 ISUSw 2.67% 2.67'A 2.61 2.59V 2.54V Open High Low close Close WHEAT Jul 2.60 2.70 iep 2.58 2.69 Dec 2.60 2.69 War 2.6V/J 2.69V} May 2.54'/2 2.64 JUI C ° RN 2.10 iep 1.96 Dec 1.85 Mar 1.87V May 1.87 1 OATS (old) Jl .92'/2 .93 .89 .89 OATS (new) Jul .91 9PA ieo .95 .98'/2 Dec .9B'/4 1.02 SOYBEA OIL Jul Aua Sen Oct 3ec Jan Mar May Commodity futures CHICAGO (AP) - Futures tralng on he Chicago Mercantile Exchange Friday: Prev Ope.. High Low. Close Close LIVE BEEF CATTLE Aua 47.15 47.60 47.12 47.52 47.17 Jet 47.30 47.85 47.27 47.85 47.35 Jec 47.80 48.35 47.75 48.35 47.72 Fob 47.95 48.50 47.95 48.47 48.05 Apr 47.50 48.22 7.50 48.22 47.57 un 4/.1S 47.95 47.15 47.95 b47.25 Sale: Aug 1400; Oct 1650; Dec 1552; Feb 904; April 145; June 36. FEEDER CATTLE ,U9 53.50 b54.32 53.45 bS4.32 53.50 ep 53.10 53.65 53.10 53.65 bS3.20 Oct 53.00 53.55 53.00 b53.37 52.90 >lov 53.52 53.52 53.50 53.50 53.10 Sales: Aug 14; Sep 26; Oct38;Nov3. SHELL EGGS Ul 49.00 49.00 48.60 48.85 aSO.OO \U3 52.20 52.90 52.20 52.35 354.20 ep 60.95 60.95 60.95 60.95 a62.95 Oct 59.05 59.50 59.05 a59.0S a61.05 Jov 62.75 62.75 26.75 a62.75 a64.75 Dec 65.30 65.30 65.30 a65.30 a67.30 an 62.50 62.50 62.50 a62.50 a64.50 Sales: July 188; Aug 167; Sep 147; Oct 1; Nov 3; Dec 125; Jan 5. IDAHO POTATOES Way 7.69 7.69 7.69 7.69 n.70 Sales: May 1. LIVE HOGS Oct 41.75 43.05 41.75 4.95 41.95 3ec 42.50 44.10 42.47 b44.10 42.62 Feb 42.75 .4410 42.75 44.10 42.85 Apr 41 .'45 42.70 41.20 42.70 4.50 Jun : 41.00 42.30 41.00 42.25 b41.50 lul 41.30 42.20 41.3042.20 41.27 Aug 40.50 40.50 40.50 40.50 340.80 Sales: uly 511; Aug 295; Oct 1176; Dec 540; Feb 297; April 231; June 42; Julv315. FROZEN PORK BELLIES Ul 57.42 53.00 57.42 57.92 57.50 Aug 57.60 58.20 57.60 58.10 57,70 =eb 62.05 63.55 62.05 b63.55 62.00 War 61.60 62.87 61.60 b62.B7 61.35 Way 61.50 b62.00 61.50 b62.00 360.50 Sales: July 283; Aug 861; Feb 1255; March 114; May 6. Jul UMBE 145,00 146.10 145.00 145.50 145.50 Sep 125.50 125.50 124.50 125.20 125.50 Nov 117,50 117.80 116.30 117.00 118.00 Jan 115,50 115.50 114.00 114.40 113.5C Mar 114.5 114.50 114.50 114.50 114.K Sales: July 95; Sep 70; Nov 45; Jan 29, Mrch 1. , GRAIN SORGHUMS Jul 3.62 3.&2 Sep — 3.65 3.65 Dec 3.40 3.40 .40 3.40 3.38 Sales: July 0; Sep 0; Dec 4. Open Interest: July 1510; Aug 3116; Feb 2387; March 325; May 31. b-BId; a-Asked; n-Nominal. Jul Aua Sep O V B— Bid; a— Asked; n— Nominal. CASH GRAIN: Wheat No. 2 soft red 2.65n Friday; No. 2 hard red 2.55n. Corn No. 2 yellow corn 2.18n. Oats No. 2 ixtra heavy white 91n. Soybeans No. 1 V6 No W 2 yellow corn Thursday was quoted at 2.21 ',4n. Qosmg mutual funds stock list W. YORK (AP) he. following quo- ns, supplied by National Association ' of Securities Dealers, Inc., are the prices at which these could sold 1 value) (value charge) securities have been (net asset or bought plus sales Friday. Sell Buy AGE Fnd 4.55 4.68 Admiralty Funds: Grwth 4.22 4.64 Incom 3.64 3.99 Insur 7.75 8.49 Advisrs 4.14 4.52 Aetna F 7.63 .34 Aetna Shr 13.6914.96 Afuture F 8,60 N.L. AIIAm Fd .'•!> .72 Allstate ll.i)212.71 Alpha 12.5413.70 Amcap, 4.40 4.81 Am Diver 9.45 10.33 Am Eqity 4.31 4.72 Amer Express: Capit 7.29 7.97 |ncme 8.49 9.28 Invest Spec I Stock Am Grth . . 7.92 8.66 6.95 7.60 7.27 7.95 5.92 6.47 Am Insln 4.56 4.98 Am Invs 4.3 N.L. Am Mull 8.06 8.81 AmN Gth 2.16 236 Anchor Group: Canit 4.14 4.54 Fd Inv 7.38 8.09 Vent 7.66 8.39 Audax Fd 736 8.04 Axe Houghton: Fnd A 4.56 4.96 . Fnd 'B 6.96 7.57 Stock 5.68 6.21 Sclen 3.93 4.27 BLC Grth 11.01 12.04 Bsbson 10.66 N.L. Bayrk Fd 7.01 7.46 . . Bavrk Gr 5.62 5.98 Beacn Hil 8.70 N.L. Beacn In 0.59 N.L. . .. Berg Ken 11.20 N.L. t erk Gth 3.96 4.33 onds«c 4.58 5.01 Bost Fdn 9.45 10.33 Brwn Fd 3.18 3.48 Bullock Calvin: ullck 12.45 13.64 Candn 21. 36 23.39 DIvid 3.61 3.96 NatW S. 9.7820.71 NY Vnt 10.1011.06 Burnh 'Fd' 9.25 N.L. CG Fund 9.40 10.60 Cap Trn 10.1011.04 Centry.Sh 12.44 13.60 Chinning Funds: Balan 10.52 11.50 Bond Com' St Grwth Incom Seed Vent Chase ,Gr Fund 9.1510.00 1.27 1.39 4.97 5.43 6.69 7.31 1.64 1.79 6.69 7.31 7.1) 8.54 . . Frt Cap 4.85 5.30 .Shrhld 6.78 7.41 Sell Buy 5.32 5.&1 10.4211.39 9.39 10.26 3.09 3.38 9.64 10.54 5.81 6.35 9.69 10.59 2,98 3.26 Spec! Chemlcl Colonal: Cnvrt Equly Fund Grwth Incom Vent ColG Grth "l6:56".'U Cwlth AB 1.07 1.16 Cwlth C 1.39 1.50 Comp Gr 6.36 6,95 Comp Cp 4.85 5.32 Comp Bd 8.22 8.93 Comp Fd 7.11 7.73 Concord unavall Cons Inv 11.2511.75 Constel G 4.68 5.11 Cont Mut 7.22 N.L. Cont Gth 6.88 7.09 Ctry Cap 13.2614.37 rn WDiv 5.53 6.04 Crn WDal 5.69 6.22 deVegh 57.11 N.L. Delaware Group: Decat 9.6010.49 Delaw 9.21 10.07 'Delta 4.23 4.62 Dlr Cap 4.96 5.44 Dodg Cox 14.58 N.L. Drexel 10.11 N.L. Drevfus Grp: Dreyf 10.44 N.L. Levge 14.3715.75 Spl Ine 7.50 8.22 Third C 9.1510.03 E&E Fd 3.U N.L. Eagle Gr 6.43 7.05 EalonSiHoward: Balan 9.4310.31 Grwth "" " Incom Spec! Stock Ebrstdt |D1E Sp EFC Managemnt: Eq Gth 7.43 Eq Pro 2.86 Fd Am 7.12 Egret Gt 11.74 12.76 Elfun Tr 15.78 Emer Sec 3.41 3.73 11.03 N.L. 12.78 13.97 6.07 6.63 6.49 7.09 12.35 13.50 9.45 10.33 19.49 N.L. Energy Equity F 8.09 Fairfld 7.51 8.21 Farm Bu 9.24 N.L. Fed Reg 3.69 lity Group: ' — Fidel Bond' Capit Contfd Conv Dstny Essex Evrst Fidel Purlin Salem trend 8.97 9.80 11.1.912.23 6.91 7.22 5.62 9.86 10.65 11.64 14.95 16.34 9.03 9.87 3.91 4.27 22.4024.48 Financial Prog: Dyna 3.87 N.L. Indust 4.27 N.L. 'Incom 5.53 N.L. Vent 3.73 N.L. FstFd Va 10.4711.44 Fst Investors: DISCO 5.05 5.53 Grwth 6.72 7.36 Stock 7.55 8.27 Fst Mult 8.45 N.L. Forum Group: Sell Buy W5 N N: L L: Sell 7.77 nuu fa 10.2 101 Fd 8.12 N.L. Twen F 5,66 N.L. : nd Gth 4,47 4.89 : ounders Group; Grwlh 5,23 5.72 rncom 11,8012.90 " ' ' 8,70 9.51 10.9011.91 unavail Mutal Spec! Foursq Franklin Groub: DNTC _ Grwth Utils Incom US Gov Capit - iuit 7.35 8.05 7.30 8.00 5.25 5.75 1.94 2.13 9.99 10.95 4.37 4.79 4.07 4.46 Cus S3 Cus S4 Polar Knickb Knlck G Land Gt Lenox F FrMn'Lfe lf.2012.24 PDF Dep 8.78 N.L. Fund Ine Grp: Comm 8.40 9.8 Impac 7.04 7.69 Ind Trd 10.6811.67 Pilot 7.11 7.77 Gatewv 6.86 7.42 QE S IS S 34.31 Gen Sec 6.26 N.L. Group Sec: Apex unavall Balan unavail Com St unavail GrthFd A 4.00) 4.37 Grth Ind 19.16 N.L. Guard M 22.01 N.L. Hamilton: s»li Buy Keystone Funds: Apollo 4.18 4.58 Cus Bl 18.95 19.82 Cus B2 20.0721.99 Cus B4 8.25 9.05 Cus Kl 7.06 7.74 Cus K 5.58 6.12 Cus SI 22.5624.72 Cus S2 10.711.91 ~ ' 7.09 7.77 3.69 4.04 3.33 3.63 5.85 6.42 6.79 7.42 6.20 6.78 4.95 N.L. LeWngton Grp: Cp Ldr '15.34 16.80 Lex Gr 5.78 6.32 Lex Rh 12.6813.86 Librty Fd 5.43 5.93 Life ns 7.56 8.27 Line Nil 6.81 7.44 Ling 3.20 Loomis Savles: Capit 12.41 N.L. Mut 14.39 N.L. Lord Abtoett: Affld 6.21 6,72 A Bus 2.96 3.21 End Db 9.9010.82 Luth Bro 10.2311.18 Luth Ine 9.5310.42 Maqna F*ds: MagC 3.46 3.7? F HDA Grwlh Incom H&C Fd H&C Lev Hedb Gor Hedge Herftge 3.94 4.31 6.47 .08 5.83 6.37 9.99 N.L. 7.04 N.L. 7.72 8.44 5.32 Hor Man 18.38 19.87 ISI Group: Grwth 4.02 4.39 Incom 4.07 4.45 Trus sh 13.34 14.58 Trus un 3.61 Im Cap 9.3510.22 Imp Gth 6.83 7.46 IncF Am U10 14.32 IncF Bos 6.08 6.67 Industry 2.56 2.81 INTGN 8.17 8.83 Int Invst 39.4443.22 Inver Gth 8.40 N.L. ICA 12.3713.52 Inv Guld 6.64 N.L. Inv Indie 3.18 Inves Bos 10.1 11.92 Inv Counsel: Capm 7.15 7.84 capit G 2.42 2.65 Capit S 5.30 5.81 Investors Grouts: IDS Grt 6.04 IDS ndl 5.50 5.97 J Hah'c"SI S.2J BiW Johstn 23.04 N.L. Sill Buy Oceanar 5.99 N.L. Omega 7.26 7.38 One WhiS 15.87 N.L. ONelll Fd 11.53 N.L, Oppenhelmer Fd: Oppen 6.91 7.55 AIM 9.6910.59 Time 5.77 6.31 9.71 10.55 7.40 8.09 unavail rime OTC Sec Incom Pilgm Manhtn Mkt Gth . 8.72 9.53 7.71 8.43 3.84 4,20 1.85 N.L. .. Indep 7.52 8.24 Miass 11.23 12.31 Mass F Inane I: MIT 10.8911.90 12.72 13.90 13.2514.48 MIG MID MFD MCD Mates Mathers 12.6513.83 14.45 14.70 lo'so Mld N AM_ .5.14.5.62 Mut Ben MIF Fd MIF Gth 9.3 7.5, 4.10 MONY F 10.0911.03 MSB Fd 13.35 N.L. ' - --10.28 8.11 443 M OmaG 4"55 4.9S M Omahl 8.76 9.52 Mut Shrs 14.52 N.L. Mt Trst 1.90 N.L. NEA Mut 9.32 9.51 Nati Ind 9.37 N.L. Nat Ser.ur Ser: Balan 8.53 9.32 Bond DJvfd Grwth Pf Stk Incom Stock 4.77 5.2 3.55 3.88 6.38 6.97 6.61 6.05 .... 4.59 5.02 6.49 7.09 NE LifeFund: Eguit 15.61 16.97 Groth 10.6611,59 Side 16.4617.89 Neuw Cet 4.36 N.L. Neuw Fd 7.96 N.L. New Per 13.2214.45 Ne Wld 12.01 13.13 Newton 12.1413.27 Nlch Strg 14.15 N.L, Noreast 15.37 N.L. Param AA Jl RA/r Paul Pine St Pioneer Enrrp Fi untr Plan Inv Pllgrth 4.933 5.41 6.41 N.L. 2.10 N.L. 6.06 6.64 9.67 N.L. 7.06 •W:f? 8.63 10.43 12,5413.70 9wln Gt 5.97 6.4! iover Inv 10.93 11.97 Spectra F 4.53 4,96 S8.P IntD 6.19 N.L. State BondGr: Com F 4.52 4.94 Div Fd 5.00 5.46 Prog F 4.56 4,98 StFrm Gt 4.53 N.L. S Frm In 9.30 N.L. State St 44.50 45.0C SAeadnian Funds: Am Ind 2.74 N.L. Asso F 1.18 N.L. Invest 1.29 N.U Stein Roe Fds: Balan 20.71 N.L. Cap 0 9.78 ' Stock 14.61 SuperVlsd Inv: Grwth 5.76 6.31 Price Funds: Grwth 12.77 N.L. N Era 1.77 N.L. N Horl Pro Fund Proyjd Prov Gth Pru SIP Putnam Conv Equit Georg Grwth Incom 8.84 N.L. 7.77 N.L. 3.81 4.16 8.06 8.81 10.04 10.97 Funds: unavall 7.98 8.72 14.94 16.33 10.5711.55 8.02 8.77 9.62 10.51 9.5510.44 Voyag 9.6610.56 Revere 6.79 7.42 Rinfret 12.50 Schustr 8.11 8.86 Schust Sp 8.36 9.14 Scudder Funds: Int Inv 17.02 N.L. Sped 27.57 N.L. Balan 16.03 N.L. ComSt 10.11 N.L. eab Lev 4.33 4.7$ Bcurity FunJs: Equty 3.11 3.41 Invest 6.53 7.16 Ultra 6.10 6.68 sleeted Funds: Sel Am 7.77 N.L. Sel Opp 8.71 N.L. Sel Spl 12.37 N.L. Snt Gth 9.4610.28 Sentry F 12.8313.95 Shareholders Gp: C E ms.k 3,123,4, Flet ft Harbr Legal . Pace Shearson Sel . . 5.40 5.90 3.52 3.85 7.26 7.93 .90 6.45 Appre Incom Invest Sherm D Sid Fd Sl c^,t F Invest Trust Vent SB Eq SB l& SoGen Sw Invs . . 6.66 7.28 ds: . Fun 17.76 19.41 17.11 18.70 8.83 9.65 .95 N.L. 7.58 . EqtV 9. l&Gr 10. en Int 11. 10. _ 6.92 nds: 7.09 7.75 10.1011.04 7.84 8.57 8.21 8.97 i.48 N.L. ' .87 N.L .77 12.32 7.80 8.52 . . 8.03 8.8( 8.15 8.9: 5.93 6.5( 6.25 6.8: - -- - - Incom Sumlt tech Sync Gth — — TMR App 8.02 8.77 Temp Gt 8,5.3 9.32 Towr Cap Trns Cap Trav Eq Tudr Hed TwnC Gt TwnC Ine 8.24 8.96 9.66 10.5! unavall 2.12 2.3: _ .... 3.59 3.93 USAA Gt 10.25 N.L US GovSe 10.09 10.2 Unit Mut 8.32 9.09 Unifund 8.68 9.49 Union SVC Grp: Broad 13.2914.52 Nat Inv 8.11 8.86 U Cap 8.18 8.9' VVhteh 12.2813.42 United Funds: Accm 6.93 7.59 Bond 7.95 8.7 Con Gr 9.1410.0: Con Ine 9.7410.62 Incom 13.21 14.41 Fd: 7.15 , Value u L,ne I com Lev G.. — — Spl Sit 2.93 3.2 Vance. Sadersj .1 4.84 5.30 4.32 4.71 3rt 5.91 6.18 Bostn Comm Spec! Vandrbt Vansd Vantg TN VarIn P Viking Wall St G Wash M '7 7.62 7.02 7.6; 6.63 7.25 4.70 5.1. 1.69 1.85 5.87 3.74 4.0 5.11 N.L 7.17 7.84 10.6711.66 Weing Eq 10.28 N.L llingfn Well Explr I vest Morg Techy Trust Wellsl Welltn Windr West Ind ' 5 -S N.L.-r No (saie| charge) Group: 20.34 22.23 8.98 9.8 10.4911.46 6.94 11.4912.56 11.8712.97 10.81 11.8 7.12 7.78 3.17 7.1" 3.4: 8.5 5.88 ,9.5! load iff* 2.54 2.09 1.95 i."94V4 lilf/J 1 1.94V4 1.B7W 2.21 I.-M 2.15'/ 2.00 2.15'/2 2.13% 1.98% J M P ar 18.22 18.50 18.22 18.! 17.64 17.90 17.64 17.1 1726 17.60 17.26 17.. ' 15.98 16.44 14.13 15.00 13.78 14.65 13.70 14.50 13.70 14.25 19.15 18.62 18.2R 17.00 13J8 14:65 14JS 13.70 14.35 14.45 13.70 14.20 314.45 15.'98 i'6M 14.13 14. r ~ 4:95 Jul Aug Sep Oct Dec Jan War May SOYBEAN. MEAL 334.0 334.50 334.50 334.50 360.00 337.00 337.00337.00 337.00 350 " ' 323.00 323.00 323.00 323.00 335 .237.00 237.00 237.00 237.00 252 185.00 199.00 185.00 192.00 200.._ 175.00192.00 175.00 188.00 190.00 171.50 188.00 171.50 186.00 186.00 170.70 188.00 170.70 184.00 18.00 B 4 R 1°25 LE 4? S 60 -41.10 42.05 4.50 44.00 41.50 43.60 _____ 43.00 44.60 - 43.00 43.55 44.25 Phoenix spot cotton Spot prices are for cotton , equal to the Official standards, with mike readings of 3.5 through 4.9, net weight. In mixed ots, uncompressed, free of all charges n warehouse in the market. American =ima quotations are based on net weight, 10 mike readings stipulated. Prices are n cents per 34 35 Staple 44 46 41 51 42 .,„.«/ 43.85 37.35 37.60 47.50 45.50 40.00 40.00 47.60 45.60 40.00 40.00 American Plma 57..Z5 57.40 S*" <*-?5 . . . , 58.20 57.75 55.50 46.60 Phoenix Upland Mike .Differences Mike"ReadTngs 2.6 and below 2.7 - 2.9 3.0 - 3.2 3.3 - 3.4 3.5 - 4.9 5.0 - 5.2 5.3 and above Pts. Per Lb. -1COO -700 -300 . New York cotton No. 8 futures closed $8.50 to $12.00 a bale higher than, the previous close. Open High Low Close Chs 52.60 53.93 52.50 Z53.80 +240 52.50 54.20 52.50 Z54.20 --201 51.75 53.40 51.75 53.40 --200 Oct Dec z-bld. 51.70 53.13 51.70 Z53.13 --200 51.40 53.03 51.40 53.03 --201 52.00 52.00 52.00 Z52.70 --200 48.70 49.00 48.: 46.00 48.30 " Z49JO --17I 48.25 +190 New York wool NEW YORK (API-Wool futures^ ad vanced Friday on commission - house Wool' futures closed 9.0 to 10.0 cents hl9her ' Hi.h LOW Jul 229.5 223.0 Oct 224_.5 224.5 Dec 225.0 225.0 Certificated wool spot S225.0. Close 223.i 224.5 225.0 Frozen orange juice July Sep Nov Jan Mar M l V bid. NEW YORK (API-Frozen concentrate orange lulce futures closed 60 to 15C higher. Sales 400 contracts. I LowCIOSt Closi 43.10 Z44.20 Z42.7I 43.15 43.70 Z42.8I 43.90 Z44.45 Z43.6I 44.60 Z45.05 44,41 45.50 Z45.75 Z45.15 45.55 Z46.30 Z45.45 .3.15 43,80 43.90 44.50 44.60 45.05 " ~" 45.80 45.95 . 45.50 45.55 New York potatoes YORK (AP)— Potato futures Maine closed 2 to U cents higher. Sales NEW 832 contracts. Nov Mar M P a r y 4.85 in 4.85 5.22 5.20 5.20 5.96 5.77 Metals NEW YORK (AP) — Spot nonferrous metal prices Friday: copper 60-60V4 cent. "_..i "-"— 'gad ]$y cents c pound ital prices Friday: copper 60-60V4 pound, Connecticut Valley; lead its a pound; zinc 20'A-21 cen HuJnd, delivered; tin J2.15V5 a p»v...New York; sold $123.55 per troy ounce New York silver $2.695 per troy ounce New York; quicksilver $270.00 nomlna cents po flask. New York. Hay market LOS ANGELES (AP-FSMN) - Alfalfa and grain hay unchanged. Carlot arrival! -173 hay, 5 corn, 1 flour. Whaat, sor ghum, barley and oats, none. Citrus market LOS ANGELES (AP-FSMN) — Citru prices: no change. Spot rubber NEW YORK (API-Rubber: Spot No. ribbed smoked sheets s-41'/j. s-nomlnal Raw hides NEW YORK (AP)-Spot light n«lV' cowhides 35. DOW JONES INDUSTRIAL AVERAGE \ — -H-H -r»840 8 _1J5___ ' ' ' ' "' JUNE Dow-Jones closing averages Stocks High Low Close Change 30 Industrials 900.59 886.59 891.71 — 2.93 20 Transportation 157.69 155.14 156.18 —0.35 15 Utilities 103.05 101.42 102.12 — 0.35 65 Stocks 273.79 269.48 271.14 - 0.84 Standard and Poor's 500 index Stocks High Low Close Change 425 Industrials 117,90 116.08 116.72 — .50 15 Railroads 34.34 33.83 34.03 — .08 60 Utilities 54.18 53.36 53.75 — .06 500 Stocks 105.30 103.68 104.26 — .43 New York Stock Exchange index Close Change 54.84 -0.20 NYSE total volume, 10.77 million shares AKRON, Ohio (AP) - United Rubber Workers union members around the country have scheduled ratification votes this weekend on a proposed three-year contract with the Firestone Tire & Rubber Co. Eight of the 12 Firestone plants were in full operation this week. In ratification votes already held, the pact has been endorsed by one local and turned down by two. Workers began returning to jobs at most plants last weekend, less than a week after the 18,000 URW members at the Firestone plants walked off their jobs. Union spokesmen said that talks . between the company and the union wbuld automatically resume if the pact is not ratified this weekend. Resumption of the strike would have to be endorsed by the international union headquarters in Akron, the union said. Although the union and company officially have declined to disclose the salary increase contained in the contract proposal, the raise reportedly was less than the average 80.8-cent hourly figure cited in the other rubber contracts this year. Unofficial sources in Akron said the union settled for a lower wage jumps fo?; work-, to achieve fringe benefit hikes. . , ; The URW had settled for Iwwer wage jumps for workers at certain plants to; win similar concessions from the other rubber companies. Firestone plants remained closed in Des Monies, Iowa, Salinas, Calif., and Bloomington and Decatur, 111.; this company said. Dividends declared Axe-Houaht Foursquare Pe- Stk. of Pay- Rate riod Record able IRREGULAR Fd A .08 Fd .05 INCREASED Bank Bldg & Eqmt .18 Electronic Co Am .20 .(x) ,,. , (x) Company discontinues stock dends and increases cash dividends. INITIAL Texas Instrument n .14 EXTRA Atna Lf 8. Csltv .06 STOCK Fairfield-Noble 5pc 7-6 7-6 9-4 7-9 7-16 7-20 9-14 7-3(1 7-12 8-15 7-16 8-1 REGULAR Am Gen Bond Fd .16 Ameron Ine .142 'lair John & Co .12 Jlue Chip Stamps .06 Ducommun Ine .25 Eaultable Sav & L .06 7-9 7-13 7-16 7-13 7-10 7-31 8-15 8-15 8-6 8-1 7-25 Sugar NEW YORK (AP)—Domestic sugar futures No. 10 closed 5 higher to 5 lower. Sales 47 contracts. High Low Close Sep 10.15 10.10 zlO.15 Nov 10.05 10.05 zlO.10 Raw sugar spot 10.00. World sugar No. 11 closed 24 lower to 18 higher. Sales 4,310 contracts. Jul Sep Oct War May Jul Sep Oct High 9.68 9.30 9.08 8.60 8.38 8.13 8.04 7.90 s-nominal, z-bld. Low 9.24 9.12 8.88 8.40 8.25 8.10 7.91 7.90 Close 9.24 9.30-25 9.00-9.08 8.52-60 8.38 28.10 7.99-8.04 S7.95 Good, LS 8, Co Handv & Harmon Hart, Alfred Co Mammoth Mart Ornark Industries ... Outlet Co .1621 Pac Holding Co .085 Peerless Tube .05 Pioneer Std I .04 Pub Svc Co NHamp .41 Redman Indust .03 Reliance Unlv .14 Repub Fnci Svcs .20 Research-Cottrell Ronson Corp Scherer, RP, Corp Unit Funds-Un Bd USM Corp Va Dorn Co VSI Corp .13 .02 •:o 5 7 7-16 8-15 7-20 7-13 8-24 8-30 7-13 £12 8-17 7-10 7-16 7-6 7-9 8-7 9-1 8-17 8-1 9-10 8-1 9-15 9-15 8-1 8-15 7-2C 7-20 7-31 8-31 i TRAVEL AGENT Immediate opening for mature individual with minimum three years travel agency experience including domestic and international ticketing, cruises and • tours. Should be well traveled, desire responsible position. Salary commensurate with experience. All applications confidential. For information call Mrs. Geri Boyce. The Arizona Bank Travel Service 3003 N. Central, Suite #106 Phoenix 264-3911 GOLD DUST-NUGGETS "SILVER BARS** (NAOMI* TO* L AMI) 263-9046 P.O. BOX T125,PHX.,4Z 85011 Ine RESTAURANT SITE Lake liltmera Village, Adjacent to Mttro Center. 46,000 sq. ft. JEROME M, WHITE & Associates, Ine, 263-9061 CRIMINAL JUSTICE INFORMATION SYSTEMS *** SYSTEMS ANALYSTS PROGRAMMERS IBM 360 ihop converting lo IBM 370. Wo need HEAVY COBOL or BAL & TP experience for applications on ilote and national computers. Submit resume to; ARIZ. DEPT. OF PUBLIC SAFETY Ariz. Law Enforcement Merit System Council 1127 North 1st Street Phoenix, Ariz. 85004 AIRPORT MOTEL 195 room deluxe motel well located near Phoenix Sky Harbor. 12 acres of prime land. Bar, restaurant, coffee shop. Immaculate in and out. $2,200,000 total. 10% down. call Anthony Harper for details. lintridqe CORPORATION U 947-8001 6831 Fifth Ave. Scottsdal.e. , r^ «L, • A totally.new ™^*"" concept in living for the Valley of the Sun... the only home environment of its kind in Arizona! .3£ST£, WHAT A WONDERFUL PLACE TO LIVE SEE IT ALL ... AT 6201 E. CACTUS ROAD, Scottsdale, Arizona - (602) 948-2030 Listen to the Quiet You won't believe the quiet of-the ' new FMC 2900R. Because the engine is a c^-^h-length awayW,in the rear. So >ou can climb hills'at 40 mph and still trade whispers. Four-wheel independent suspension, rear torsion bars, and wide- track front wheels let you cruise in quiet comfort. There's a revolutionary low-to- the-ground chassis—designed specifically for this 29-foot coach. Call us now for the quietest test-drive of your life. We'll be glad to answer any questions, and we'll give you a free folder that gives you a foolproof system for comparing motor coaches. Once you take the wheel of our FMC 2900R, you'll hear the difference engineering makes. Consumer Products Test drive the remarkable new FMC2900R. BMtTM wBHMP A DIV. OF MOR6ENSEN MOTORS 2430 W. CAMELBACK if

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