Pittsburgh Post-Gazette from Pittsburgh, Pennsylvania • Page 25

-PITTSBURGH POSTGAZETTEj WEDNESDAY, MAY 29, 1968- THE WELFARE CRISIS III Are Those on Relief Loafers? Facts Say No By SYLVIA PORTER (Third in a series of four column.) To understand the disillusionment wiUi our present welfare system, here are answers to key questions: wrong with today's welfare system? wrong Is that it doesn't work. It covers only about 8,000,000 of the 30,000,000 Americans now living below Store Sales Off in Week Department store sales In the district were lower last week than in the corresponding week a year ago, the Bureau of Business Research at the University of Pittsburgh reported yesterday. Metropolitan 1 1 1 a rgh sales were 0.7 per cent lower for the week, but up 4.9 per cent for the four weeks ending May 25 and 3.9 per cent higher for the year to date. Dowtonwn sales were off 5 per cent for the week, but ahead by 1.5 per cent for the four weeks and 0.7 per cent for the year to date. the $3,300 poverty level established by the federal government for a family of four and lowing, it has become a hodge-podge of 50 separate programs with each state determining its own level of payments, each working out Its own regulations, each defining its own eligibility standards, each deciding whether or not to accept federal funds available for public assistance.

On this last point: 22 states do not accept all of the federal funds available for assistance purposes. are the 30,000,000 below the poverty line? A. First, they are 15 per cent of our population and one-fourth of all our children. More than half are, In fact, under 18. Approximately 80 per cent of the children on welfare live in homes without fathers; among them are one of every 10 white children but six of every 10 non-white children.

about the 8,000,000 on relief? A. The vast majority are either too young, too old, too sick or too disabled to be self-supporting. More specifically, more than 2,000,000, mostly women, are 65 or over. More than 700,000 are totally blind or disabled. Almnst 4,000,000 are children whose parents cannot support them.

About 1,100,000 are their mothers; about 100,000 are their physically or mentally incapacitated fathers. Only about 60,000 are able-bodied men. Q. What does this profile of our welfare population say? A. It gives the lie to thce who claim that those on wel fare are "loafers" who won't work.

Most do not work because they cannot. This alone, argues the Rockefeller Committee, means that our present welfare system needs drastic and immediate reform. At the very least, the committee urges these major changes: the aged, blind and disabled, who constitute one-third of welfare rolls, should be transferred to Social Security. Day care facilities should be substantially expanded to enable welfare mothers to work, if they can. Incentives to work should be liberalized to spur those who can work to do so.

Q. What are the drawbacks to working? A. Here's just one. Under our welfare system, those on welfare have lost one dollar in benefits for every dollar they have earned at work, a 100 per cent tax! This has meant that the highest income tax paid in the U.S. has been paid by mothers or fathers who qualify for relief under the "Aid to Families With Dependent Children" program.

There has been some modest liberalizing of this rule this year, but the change is only a starter. In practice, disincentives to work still are an integral part of our welfare system. Q. Won't reform of the system be sufficient? A. No.

What Is needed is a new approach to poverty to replace our present cruel, archaic, costly, inefficient system of welfare payments. TOMORROW: The Proposals. costs $8 billion a year to do only this. Ii is, in the words of Joseph C. Wilson, chairman of Xerox Corp.

and also of Governor Rockefeller's 12-man committee on public welfare, "demeaning, Inefficient, inadequate and has so many disincentives built into it that it encourages continued dependency." It is loaded with degradations and humiliations, undermines human dignity and Importance. Its rules are often so conflicting I Miss Porter Market Action In Commodities that they discourage people who want to work from doing so ana deprive children of the motivation to break away from a recurring cycle of relief. Q. How did this come about? A. Welfare was created during the depression 1930's as a temporary measure.

As it has evolved in the decades fol- TREND OP STAPLE PRICES NEW VOW Kt A6ov 28 (AP)-Tne Asso-cioted Press weiontrd wholesole pric tnOcx of 35 commodities today advanced to 161 80. Previous dav. 161.69; week ago, 161.60; month ooo, 162.74; year ago, 165.34. 1961 1947 1 944 1965 High 1M.50 166 40 1 80 04 176.7$ LOW 161.51 160.30 165 57 166.20 (1926 overage eauols 100) BUSINESS TODAY Anvil Still Rings at 30 Wabco-Std. Merger 'Win Is Reported ii Donald T.

Jones moted to manager was proof indus- CHICAGO MERCANTILE Live Beet Open High Lew Close Jun 26 5 26.S7 26.45 26.57 Jul 26 45 26 47 26.45 26.47 Aug 26.42 26.45 26.35 26.45 Seo 26.J2 26.45 26.42 26.4S Oct 26 42 26.42 26.37 26.42 Dec 26 20 26 25 26.17 26.25 Aor 26 20 2622 26.20 26.22 Shell Eggs: SD 38 50 38 85 38 45 39.75 Cct 38 8 5 38 90 38 80 38 80 Noy 40 25 40 25 40 05 40 25 Dec 40 00 40 00 39.90 39.90 Live Hogs: Jun 2V30 SI 32 21.30 21 32 Jul 22 20 22 25 22 15 22 IS Aug 21 90 21 90 21.70 21.70 S'D 20 60 20 60 20.55 20 55 Nov 20.00 I Dec 20.00 Tom Turkevs: Jul 31 8 5 31.85 31.85 31.85 Frozen Pork Bellies: Jul 32 30 32 90 32 00 32 40 Alio. 31.90 32 62 3165 32.12 Feb. 34 40 34.60 34 05 34 05 34.00 34.30 33.90 33.90 V'iro anrl trial sales for tho Investors' Guide What Makes A Bond Go Up or Down By SAM SIIULSKV Q. Will you please explain, In simple language, a bond which yields 6V per cent. You say you can sell the bond at any time, but may get more or less than you paid if interest rates go down or up.

Why? A. There are dozens of recently-issued utility bonds that carry interest coupons of and even 7 per cent. If you put $1,000 into a bond carrying a 6'i per cent coupon, you will receive $32.50 interest every six months, or $65 a year. That represents a return of 6V4 per cent on $1,000 invested. If money rates should rise further let's say to Vk per cent, this bond would not continue to sell at $1,000 in the open market because, paying out $65 while other $1,000 bonds were paying $75, it would no longer be worth the $1,000.

It might fall to, say, $875. If interest rates should decline to, say, 5 per cent, or only $55 on a $1,000 bond, your bond would then become a "bargain," since it would continue to pay the $65 every year. So it would rise in price to, let's say, about $1,150. Q. How are the Dow Jones stock averages computed? A.

The Dow Jones industrial average is made up of 30 leading N. Y. Stock Exchange issues, with their total price divided by a figure which takes past stock splits into consideration. The rail average is computed from 20 railroad stocks, and the utility from 15 utility Issues. The "65 stocks" figure is a total of all three.

Q. I've been in the stock market for 10 years and have not done well at all. My husband is now five years from Ntirement. Would you suggest mutual fund? A. If by "in the stock market" you mean dabbling, then it's obvious this is not your forte, and you should quit.

If you spent 10 years on the golf links and succeeded only in losing balls and racking up a score of 200 on the first nine holes, it would be obvious that golf is not your game. You have two choices now: either buy quality stocks and hold them; or turn your money over to professional mutual fund management. I'm tending you data on both. If you do go into a mutual fund, make sure you don't contract for a 10-year payment plan if you're only five years from retirement Cable division By JACK MARKOWITZ Poit-Gozettt Buslnest Editor Anvil Products Inc. may be an unfamiliar name, but the Allison Park firm, marked its first half -century the other day with an open house that shed a sort of glow on the humble hardware of plumbing.

Up to mid-1967 Anvil was known as the Pittsburgh Pipe and pwS' lawyers me a jr merger of American Standard Si anrl WpstinormiieA Ai IfT VI I' Paxtons to Head G. C. Murphy Kenneth T. Paxton was elected chairman and Edgar L. Paxton was named president of G.

C. Murphy succeeding James S. Mack, former chairman and president, who died last week. weld Co. He ieei i joined if.

Brake Co. agreed yesterday in in U.S. District Court, New York, Steel the firm coupling to. 1948, has been The Allison Park plant's 175 workers turn out practically every imaginable shape and size of gadget to fit pipes together. Product lines have CHICAGO CASH GRAIN Wheat: No.

2 hord, 1.4234. Corn vellow, 1.16. Oots: No. 2 extra white, i. Sovbeons: No.

1 No. 3 heavy vellow, assistant manager of sales since 1S63 and will continue to make his z.Ajvj. 5ovoean on, mi. CHICAGO GRAIN FUTURES Mr. Jones Close LOW 'ft numbered 3,000 to 4,000 over the years.

There are couplings that look mammoth -Hit enough to pass a basketball to string to- Open Open Wheat: July 1.38 1.38'i Sep 141 "4 142 Mm- 1.52' 1 1.52'k Corn: July 1.16 1.16'i Sep 1.18'i l.lB'i Dec 1.19'. 1.19'i Mar. 1.24' 4 1 Oats: July fVtj 70V4 Seo 67 67' 4 Dec 69 69' 4 Mar 71 715. Rve: July 1.14'i 1.15 Seo 1.17J i.i?", Dec 12l' 1.21'i Mar 1.24V4 1.24V4 Soybeans: July 271'4 a.71'4 Aug 2.70''4 2 70'j Seo 2.64J4 J.6t7 Nov 2 62'e 2 62' Jon 2 66' i 2 Mar 2 69' 2 695i 1.37' 1.41 '-4 1.52' 1.15' 1. 17J4 1.19 1.23 69 66' 68 7P-4 1.1 1.17H 1.21V, 1.2414 2.71' 2.69V4 2.641 2 62' 2 65'4 2.69'i 1.38 1.41'i 1 52'-4 1 1.171.4 1.19'4 1.24 66M 69' i 71' 1.14' 1.171 1.21" 1.2414 2.71' 2 69i 2 64''l 2 62'i 266 2 69H K.

Paxton E. Paxton calls for Mellon Bank to sign up merchants and cardholders in the correspondent bank's area, collect bills and run the entire bookkeeping and recordkeeping operation through its own computers here. The associate bank gets a percentage of total credit card sales. The franchise deal calls for the correspondent bank to sign up merchants and cardholders, and to collect bills, with Mellon Bank offering technical and marketing assistance. The franchise bank is charged an installation fee and a percentage of credit card sales.

The banks which so far have joined the plans, operate a total of 79 offices, nearly doubling the credit-card spread of Mellon Bank's own 90 branches. Banks taking part are Gallatin National, Uniontown; Northwest Pennsylvania and First Seneca, both of Oil City; Marine National, Erie; War-ren National, Warren; First National of Lawrence County, Lawrence Savings and Peoples Bank, all of New Castle; Liberty Trust, Cumberland, First National, Waynes-burg; Second National, Con-nellsville; the National Bank, North East, and Hartley National, Bedford. not to file for the merger until 1 p. m. Friday.

Judge Sylvester J. Ryan received the promir 2 as he went ahead with a hearing on a motion by the Crane Co. and others to enjoin the merger. Lawyers to the court earlier that in the proxy fight, 2,870,953 votes favored the merger and 1,161,810 opposed. Crane Co.

Chairman Thomas Mellon Evans had no immediate comment on the reported setback in his drive to block the merger and secure control of Wabco by Crane, which owns 31 per cent of its stock. Wabco headquarters here said the vote result was "'what we had hoped for and anticipated." It said the final result probably will be announced Friday at 10 a. m. when a 's shareholder meeting reconvenes at Carnegie Music Hall, Oakland. gether the miles-long cas- Mr.

ings in oil Mcllroy EGGS AND POULTRY PITTSBURGH Prices to retailers, cent Shell eggs: nr dnTn consumer araaes ono u.a. headquarters at Glassport. Pittsburgh Steel Allen-port Works announced the following appointments: Russell Staup, electrical foreman in the tube division; Harold Gregory, assistant yardmas-ter, transportation department; Charles R. Eland, foreman, machine shop, and Samuel J. Fiorino, Michael Varhola, Louis Colosimo and August Galante, turn Country Belle Cooperative Farms appointed Paul Gess-ner field sales manager of the northern division and Willis Witherite to succeed him as manager of the Pitts-burgh wholesale division.

Witherite had headed vending machine and restaurant sales for the dairy. Pittsburgh National Bank announced that its move of headquarters offices to One Oliver Plaza will be effective next Monday with no change in banking hours or telephone numbers. change. President James R. Mcllroy quietly pointed out that the pipe coupling business is in "a declining market." Ten years ago, he says, the firm "made nothing but threaded couplings; today they're not more than 50 percent of our business." Why? Partly because steel pipe has been going down, aluminum and plastic coming up, and because of increasing sales of plain-end pipe sections that can be welded together.

Import Problem But imports are the real storm cloud. A lot of imported steel consists of threaded and coupled pipe and of loose couplings and the foreigners' advantage is "nothing but labor," claims Mcllroy. "A threaded coupling from Japan can be set down in Pittsburgh at less than our cost of raw material," he says. Then what's holding his customers? "A great deal of loyalty" is part of it, he says frankly. And that's the background for the new, less restrictive company name and for diversification into new products like fittings for plastic pipe and others that "we're fooling around with." The company has four other plants in the U.

two in Canada, sales of over $5 million a year, Whatever happens to the threaded coupling market, Kenneth Paxton has been vice president for the past 22 years and will continue to hold that position along with the chairmanship. Edgar Paxton became senior vice president for operations last May 7 and was previously vice president merchandise. Technical Advisory Service for Attorneys, a firm with offices in Philadelphia and New York, has announced the opening of an office at 3045 W. Liberty Ave. here.

The company furnishes lawyers consultants on technical and scientific questions. Charles R. Simmons will head the branch here. USC the science center at 3125 Forbes Oakland, has appointed George B. Motheral Ltd.

to handle public relations. graded, store-door delivery, cortoned. A lumbo white, 42 44 cents; A extra large white. 40-45 cents; A large white, 35-43 cents; A medium white, 30-33 cents; lorqe white, 33-35 cents. Ready-to-cook poultry: Prices retailers, cents per pound; Grode Ice-pocked, delivered.

Broilers and fryers. )i-3 pounds, 29-33 cents; roosters, 3-4 pounds, 31''j-33 cents; roasters, 4-4 pounds, 46-49 cents; hens, over 4 pounds. 35-36 cents; ducks, frozen, 4-4 pounds 52-57 cents. CHICAGO CASH BUTTER AND EGGS Butter: Wholesole selling prices un-changed; 93 score AA, 66.442; 92 66.442; 90 unauoted. Eags: Prices paid delivered to Chlcao 2 lower to IV hioher; 80 per cent or better grade A whites, 29.31; medlunr white extras, 23VJ-25; 60 per cent or bet ter grode A whites, mcdiur white extras unauoted; standards, 21-24'j checks, 16'j-18.

Exchange Foreign wells and some that wouldn't fit on your little finger. Most couplings are threaded. The big pipe mills of the Pittsburgh district normally ship a coupling with every length of pipe. This has been Anvil's biggest market, as one of the country's four largest makers of couplings. Bustling Activity Plant manager Dick Holliday showed visitors machines that can thread down in a bath of oil through three stacked couplings, gouging out the spiral pathways that permit lengths of pipe to be fitted together.

The plant is filled with the staccato of finished couplings clunking into metal "tote boxes." And there's one machine that sounds like a cannon: with a tremendous thump it knocks a coupling about the size of a whisky glass out of a single slug of cold metal. But there's usually a story behind a corporate name Quotations rerjortel by Mellon National Bonk ana rrust Lomoanv: Great Britain (oound sterling), 52 3856; Conada (Conadlon dollar), Ar- pemina ipsoj, MUMrana luumiri, Belgium (franc), 020110; Brazil (cruzeiro), $3135; Denmark (krone), France (franc), 2011; Germany (Deutsche mark), 251250; Hong Kong Hong Kong dollar), India (Rupee), Italy (llro), 001607; Mexico MINNEAPOLIS WHEAT FUTURES Open High Low Close June I.6IV4 1.61U 1.59V, 1.591.4 Sent 1.61 1.61 j. 59' 1.60 '-4 Mutual Funds inesni. hmii: iveiner onos iau aer, r. 1.631 l.ftJJ) 4 1.0-4 1.65 1 65 1.64'4 1.44-v 276550; New Zealand (dollar), Pittsburgh Clearings Exchanges Bolonc Balances (Escudo), 03495; South Africa (rand).

MOV 78 Pittsburgh Stocks 5pain (peseta), swirzmona 44,900,000 (fronc), Uruguay (peso), SUGAR AND COCOA Raw spot sugar, 7.45 cents, nominal. Spot Accra cocoa, 29J4 cents, nomlnaL 17.400.000 Week ago Stock 52 30 24.24 Select 9.46 10.17 Holiday UP68 Fundi 5-28 New York (UPI) National Associ Year ago tolM Stock! Hlah Low Close Ch'ge Var Pay 9.33 10.14 19', 19' ation of Securities Inv Res 1V.3 2I.56 Istel Fd 26.47 27 28 Ivesf 18.62 20.35 Dealers, inc. Tuesday. Bid Asked; vv Fd 24.17 24.17 321 3 51 Jhnstn 22.10 22.10. Un Ok KEYSTONE: V.

25s 'n Vl 2'i 0 343 451- 72'4 27 '4 25" 28' 4 34' 27Vj 34H 4SH 7n 2 Ally Airlines 1 Columbia Gas 50 Copperweld Stl 125 Dug. Light 6 Eaultable Ga 3748 Latrohe Steel tOO McKlnnev Mfg 1 Mesta Mach lowest. Airbrake 40 West. lec Total soles, 1,211 27 "4 28H 34' a 28 34K 45 shares. 82 9 54 mv D'l 1 28 1.40 Wed B-2 21.96 23 99 3 49 3.77 DiS B-4 10.06 1098 Thu tnnounctmenl not an off tecurillu jor ale or a soliciLilion cf an oljcr to buy securities.

Aberdn Adv Fd Aftll Fd All Am Am Bus Am Div Am Grth Am Inv Am Mut Am Poc Anchor Asso Fd 11 57 12 641 Inc K-l 9.29 10.14 8 10 8 80' Gth K-2 7.43 S.ll 39 49 39.491 HGr S-l 23.16 25.26 10 10 11.04 9'i i4C.n May 29. 1963 New Ism nUU O-tf iv. ji Lor S-4 8.31 9.07 Intl 17.48 18 91 Knlkr 7.76 8.50 9.99 10.95 1.42 1.77 American Stocks Cont. Knk Gth 12.69 13.90 IAXE HOUGHTON: AxeH A 9.17 0.07 11.40 12.39 Sales In Net loos High Lew Close Chg. Lexina 10.36 11.32 Lex Re 16.57 18.11 Llbrtv 7.77 8.49 Life Inv 6.33 6.92 Life Stk 4.47 4.88 LOOMIS SAYLES: Can Int 36.36 36.36 Cao Dy 13.42 13.42 Mut 15.77 15.77 (Continued from Page 23) Dlv.

8.5 8.00 8.70 8.10 8.10 13.75 15.03 7,35 8.03 881 9.63 41 13'i 13'4 13'4- '4 26 Sales In Net 100s High Low Close Chg. 83 16 25'A- Vt 27I2 Vi 15 AxeH AxeH SI Axe Scl Babson Blue Rid Bnd Stk; Bost Fd Broad Sf Bullock Can Gen Cdn Fd Cao Inc Coo Life nt Shr 27V4 IA 27 15 15.01 16.23 $150,000,000 Union Oil Company of California 6's Debentures, due June 1, 1998 16'4 -V- 15:84 11.54 12.61 8 80 9.68!Mass Fd 12.74 13.92 17 15 18.551 Mass Gr 12.92 14.17 8 84 9 69iMass Tr 16.75 18.31 6 72 7.37 Mates 8.82 8.82 oollnMeDon 12.72 13.94 307 32 12' 31 "4 27, 1234 '4 J7' 134 38'4 28 65 CHANNINO Si'i- Moody's 17.05 19 0 FUNDS: 153. Mc-llroy, whose fatner co-founded the company, sees the Allison Park plant as its focus for products "requiring the greatest skills and engineering." He expects Anvil to still be around for another 50 birthdays. Country Banks In Mellon Credit Card Mellon Bank's credit card system has taken a major leap out into the tri-state area hinterland. Thirteen banks with combined deposits of over $700 million have joined the Pittsburgh institution's Charge Service system through either associate or franchise program.

The associate arrangement 13 Fd 13 99 15.29 Rnlnn 2434- nm St 2.10 2.30imuKlUN ru; Grwth 19.56 21.38 109 86 218 304 77 X15 10 8 33 1 66 404 274 38'4 5l' 16 25V4 21 3 1514 45 22' 15'4 21 V4 28' IP4 3712 MrT ur 13-uv 10.34 Mrt Ine 459 5.03 Mrt Ins 7.68 8.42 MIF Fd 19.56 21.15 MIF Gth 6.38 6.90 Mut Shr 21.10 21.10 Mut Tr 273 279 ncom jv Soecl 3.82 4.13 Chase Fd 14.18 15.50 Chse Fr 102.06 Chem Fd 19.48 21.29 Citadel 3.50 3.83 20' 4 '4 45 '4 22' Vt 15 Vs 214 27'- V4 11'4 1' 37'i- 20' 4 I NEA Mut 12.20 12.45 Cst See 5 11.01 11.92 WS Col Eat 5.98 6.541 Nat -w- Nat Ind 13.53 13 53 Nat Inv 827 8.94 Col Fd 14.08 15.3V Col Grth 8.43 9.21 rmt EH 6.13 NAT SEC 5ER: 22'4- 4 18'- 'A 11.67 12.65 COMMONWLTH Balan. Dlv. srFrfof voa SCEdDf 1.19 SoCulf 1)111 South Rltv tnectlnd .50 need OP 21 Soenrer Sh StAllionce 1 St Drda onrllnt .24 Std Metnl 51 SdtMotP .75 StdProd 120 StdShor Std Thomsri Stanley Av Stonrnrk Ur Stool Star SuD .60 Stntham Ins SteinHI Stelma In 31 SteDCh Steohan Co Sterling Ele SterlEx Sterl Prec SternM Sternr.o Ind StnoShoo .90 Struth Wells Stvlon Corn SunAIr Elec unset .60 uoercr SuorCt SuoerGn .40 SuperGcn Df Suorscroe Suorontcs SusonTh .60 Susanehn Co Susnhnnpf 1 Swanee Pop tvnnllov Co vntex .40 Svstron Don ciiunc Bond I6V4 181 51 7 lan I6I4 16 2711l 18''4 6 17'4 17 "4 18's 4 19 16Vj 28'4 37' 22V4 9 41 I6V4 13 28 "4 32 21', 22'4 195 '4 23ti 16'4 31 36' 9' 1734 56V3 56 2IVi 24 66 32V 16'4 IB1 54 "4 20 V4 18 17 26? a 19 7'i 19', IVt 26 13 '4 4tl Wt 30 37's 25', 41 "a V' 3774 7V 23' 15'4 20' 4 2" 17V, 31'j 37 26 10" IS1 57 21 26 33V4 6 1 170 17 51 30 27 11 219 19 207 65 1 9 17 20 145 8 15 82 43 18 39 27 18 274 36 41 98 78 87 21 16 68 25 ft 232 25 105 6 21 143 163 165 181 54'2 7', 19 -IV4 16' '4 271- Sj, 24' i- Vj 7' "it 25' '4 26 13' Vn 18' 411 12 19 I6V4 36'42 37', Vt 22'4 9' 41' I6V4- V4 135 A 29 14 37''4- 21V4 15 Vt 20 17 31- 37 V4 25' 3 56J '4 5614 1 '4 21'- '4 26 2 67' 33'l 1'8 rnn MA7 94 09 Divld 32 -IV Cwth In 10.90 11.91 Pf Stk V', Price 98s4 plui ecrud Interest, If any, from Jun 196S s.yy .55 5.28 5.77 7.96 8.70 6 07 6.63 9.03 9.87 11.61 12.69 5.88 6.44 Cw Inv 10.53 11.51 incorn 413. UnvCont .30 UnvMar .60 UrlsBId wts Utahl .75 VallevMtl 31 ValSDar Valve Co .30 Varo IncorD Verntron Co Victoreen 31 Viewlex Inc Vikoalnc 5k ValrCoal .50 Visual Elect Vita Fd Vocaline .20 Voat Co 1 VolMdse .20 VTR Inc .400 WtibMog .20 Wcknut .30 Waddell Ea Wallh Precs War7Art .50 Watsco .16 WellMcL .80 Welmon Co WellcoE .20 Weld Tube Wentwo WestChP .90 Westate Pet Westb Fash WsNuclr .20 Westn Orbis WstnStln West Un Int Whlbrtr Whippnv .60 WhilCab .50 White Eagle Whitohal El Whiting 1' Wichita Oil Wichldt .208 WIMhous In WilshlreO 41 Wilson Bros Wllsn Co 1.35 Wllsn Ph .50 WilsonSGd 1 Wlnklmn .40 WoodsCp .48 Wfodln Work Wr .60 WorldCP .60 ru, Ctt 16 93 11.95 5tOCK 7M ruMIMnMUJI Tkl Rrwth 17'- Vt 85 TRUST: Nat Wst New Eng 11.08 11.98 New Hor 29.60 29.60 ID Vl 29V4 1 88 26 Vt 37 49' I4V4 24 20' 15' 4434 22', 14V4 21 "4 10' 37' 19' 22 18' 13 31' 9' 4034 7'2 172 9' 29 6'A 6 27' 3 tlS 50 42' 16'4 65 143 41', 6 34' 37' 10' 9', 28'i 22 44 9' 33' 27' 30' 3t2 19' 3934 A 1.78 1.93 1 97 2.13 Como Co 10.3911.30 rnn Rrf 11 62 12 63 New WO 4.44 13. 6'4- Vt Neast IT 17.3017.30 6', rnmn cA 1761354 Omeaa 10.12 10.25 30'2V Copltt Ai prepeda man eblaintd nm tuck tkt unitrtlgnti who rt vnong the underwriter named in the pratptetiu) rtfirtertd dealer in ttcuriiie in thu State.

4' tlS- 12 Concrd 21 .56 21 .56 100 Fnd Cons Inv wm Cnsum I 5.17 5.65 Oooh Conv Sec 11.03 12.05 Perm Sa Coro Ld 16.94 18.54 Phlla Fd 50 Vi Dividends Declared 15.78 17.25 17.07 17.07 8.56 9.36 8.00 8 00 15.45 16.93 11.35 12.40 8.41 9.19 12.41 12.41 43 Vi 17'- rntrv 21 22' 19' 13 33 10 42 18' 10'4 29Vi 7' 6' 30'j yt in 50', 43' 18' 15', 7'. 15' 43'. 6V4 34'j 38' ll'a 10 28' 23'4 44'4 9'4 34V, 35' 29', 31 "4 315 19'4 43 418 55 13 43 156 9 29 8 29 12 99 8 147 64 77 61 68 38 68 34 2 93 192 106 97 13 15 363 19 70 X58 42 10 110 91 53 28 208 6 327 14. jv 13.331 rnurm 7 SO ft 29 Pilot 72.60 72.60' Pine St Vt 13 85 15 14. Pioneer 13.97 15.27 16.42 17.95i Planned.

6', Price TR 25.63 25.63 DIVIDENDS United Press International Period Ami Pay Record By Crown deVgh Decatr Dela Fd Diver Gr Diver In Divld Sh Dow Th Drexel rireyfin 6.11 6. 34' Vt 383 34 Provldt Puritnn 11.59 12.53 Dillon, Read Co. Inc. Inc. Merrill Lynch', Pierce, Smith' Dean Witter Co.

Incorporated II VS 15.79 17.30 9.92 10.87 3.91 4.27 8.70 9.41 18.1318.13 15.14 16.52 11 51 12.51 -T- INLKfcAStU Allied Molnt New .10 Lau Blower .15 9', 001. 14.37 15 70 15.97 17.45 23' P4; Sedan t.mre Eatn Bal PUTNAM FUNDS: Eauity Geo Grth Inc Inv Reo Tech Revere 13.87 15.16! Eastman Dillon, Union Securities Co. Glore Forgan, Wm. R. Staats Inc.

4-7 6- 7 7- 1 4-14 4-28 7-1 4-14 4-13 4-17 6- 24 7- 15 7-8 722 7-15 7-1 6-2B Drexel Harriman Ripley 9.42 10.31 8.36 9.14 7.38 8.07 Lykes Corp lOOnc Mavs JW Ine 5oc Seaorave 15pc SEMI ANNUAL Am Auto Vending .10 Natomas Co REDUCED Comm Solvents .20 18 26 19.96 Eatn Stk 16.861 8.31 Fberst 14.40 15.74 Emo Gro 15.24 16.57 Enerav 16.98 16.98 Int Fnd 9.39 10.26 Eaultv 11.70 12.11 Eat A 18.13 19.87 Exol Fd 28.01 29.80 Cnlrllri 1601 17.50 Tollev In 3k Tnstv Bk .88 Terhn Oner Tech Tape Technlco .40 Technitrl In Teleflx Tel Promnl TnleMfrs .10 Telex Corp Tennv Eno Tensor Com TermHud 51 Tesoro Pet IDcerporated Goldman, Sachs Co. Haliey, Stuart Co. Inc. 9' 34 Vt 33' -2 29', 2'2 3134 2V4 3t4 19'- 4234 20H Vt SCUDDER FDS Wrloht Hrg 73' 7Vi 41'4 6-v, 32 14Vj 24H 33 6' 25', IP TH 18'J 15 141! 59 Kidder, Incorporated Reynolds Co. 22Vi iVl 1 34 lS'i 24', 6'i 27 131 5'l I6V1 45 '4 15 23 61 A4'i Wvondot .40 Hornblower Weeks-Hemphill, Noyes Paine, Webber, Jackson Curtis 425 4-7 Wyle Labrt USUAL IM inv Soec Bal Com Sec Dlv Sec Eo Sec InP 20' 19'2 Fm Bur 12.99 1 2 99 100 wvomsg .00 Acme Elec .04 Lehman Brothers Loeb, Rhoadei Co.

-X-Y-Z- Fed Grth 16.53 18.07 Fid Coo 14.42 15.67 CI4 Fi.nrl 19 68 21.28 Texstnr Cro Ambac Ind Arundel Co Babcock Wilcox Bendlx in i n.A 4-4 4-10 4-15 6-10 4-14 6-10 6-12 4 I 63', 14 43.97 43.97 17.43 17.43 12.31 12.31 1510 16.32 19.00 20.77 8.62 9.42 11.78 12.75 15.46 15.90 13.64 14 91 11.28 12.33 9 52 1 0.31 15.77 17.27 Textron F. S. Smithen Co. 3' 62ii 24 7 4 44' 25 7'4 4 36 32 16 Am Sdc YonkrR ZaleCoro ZeroMla .10 Zion Food 31 Fid Trnd 30.63 33.29, Sel FINANCIAL Sel Salomon Brothers Hatzler 2414 1 wts 1.40 2.40 Thornfr Thrlftm Smith, Barney Co. Ineorperetett 89 1 116 142 355 52 14 17 35 129 198 14 68 27 225 37 7 2B 35 56 73 49 69 92 157 74 681 57 30 2 19 1485 1 Sh Bos 7 PROGRAMS: Bird Son Tedd Sh 7 44 8.14' Sigma 767, 3' 22'- Vt 43'4 l34 6' '4 33 -1 147 le 24' "4 26'4 i 1P4-V4 5' 7', 1 18', l'4 4V4 15 61 "2 2' 64' 44'- V4 SB'- 34 -IV4 25V4- a 6'4 a 10' 15'4 Vn 21 2'4 38 3 14' 57'.

"4 28 9'4- 3' 100'4 5 13' Wt 64' TolEdr 4' dnf 5.72 6.27: Swst Inv Bfig NT Collins Radio Comotr Science! Wertheim Co. White, Weld Co. Paribas Corporation Stone Webster Securities Corporation 44i 59V4 575 7.63 8.35 sovr In Stote St Copoer T8.R 10 49 11.50 11.09 12.15 36'2 33' orenco Corp Lo 72 STEADMAN FUNDS: Am Ind 14.8814.26 19.11 Dvn Ind Inc Fst InvG Fst Inv Fletchr Fletchr Fla Grth Fnd Lf Fnd Mut Fnursn 9 47 Bear, Stearns Co. Clark, Dodge Co. Incorporated 4.

G. Becker Co. Incorporated Bache Co. Incorporated Fidcv 9.11 9.96 9.07 4 91 5 36 Dominick Dominick, Incorporated Goodbody Co. All sales In hundreds (00) omitted ex-cent for those designated (z) which are traded In 10 share lots and carried In full.

DIVIDENDS (a) plus extra; (b) paid lost vear; (c) payment on accumulated dividends; (d) declared or paid so tar this vear, no regular rote; (e) cash plus slock; (g) annual rate plus stock dividend; (h) caoltal distribution; (I) per cent In stock; (k) per cent In stock paid last vear; (x) tx-dlvldend. FRACTIONS: (f) Indicates following figure Is fraction In 32nds; (t) Indicates following figure is fraction In Whs. Scl Gr 7.91 B.46 ROE FDS: 8 81 9.63 STEIN 14 78 115! Stein 22.04 2 2.04 Francis I. duPont, A. C.

Allyn, Ine. 25' 1.V iWi 14' 571 28 9H Equitable Securities, Morton Co. Incorporated siein in FRANKLIN Crone Co Cullloan Den8.Rlo Gr Wst Falstaff Brewno Fleldcres Mis Florida Tel Garrett Fgtlni Genesco Inc Globe-Union Grant Adv Intl Halls Mtr Transit Hat Co of Am Intl Mln Chm 16.25 1625 15.25 1 5 25 13.14 14.32 stein 5f CUSTODIAN .15 .40 .34 .35 .35 .30 .20 .25 .20 .40 .12 .20 .40 .20 .10 .25 .10 .25 .20 .06 .15 .20 .20 .40 .25 .75 .20 Fnk Cm 7.65 t.38.5ten inv W. E. Hutton Co.

Hayden, Stont E. F. Hutton Company Inc. Ineetperated 7.67 8.49 13.79 14.36 10.42 11.36 18.54 20.24 12 49 13.65 6.31 6.90 3' Fnk Ut 6 94 7.61 1 Sup Inv Fnk In 2.67 2 93 Tchers Fund'Am 12.15 13.50! Tech Fd Fund Inv 11.71 12 83 Tmoltn Gen Inv 7 29 7.92 Tex FO Gen Sec 12 66 12.66; TwnC Ladenburg, Thalmann Co. LF.

Rothschild Co. Wood, Struthers Winthrop 110 102 426 )3' -u- F. S. Moseley Co. 6- 20 68 7- 1 7-1 6-29 625 71 6- 28 7- 15 6-26 6-30 4-14 6- 17 4-21 4-17 7- 10 6 28 6 23 7-8 7-31 tv 7-15 81 6-30 628 6- 15 7- 1 7-15 7-1 6- 27 7- 1 6- 15 7- 1 7-1 6 21 6-23 6-25 6-25 6- 28 7- 25 71 6-27 6- 30 628 7- 5 420 7-15 421 5 66 6.19 GROUP SEC: llwnc I R.

W. Pressprich Co. In corpora, tad G.H. Walker Co. 6-14 6-24 6-12 4-14 4-4 6-10 6-7 4-7 6-20 4-14 6- 14 4-21 7- 11 4-10 7-15 6- 28 7- 15 6-14 617 6-7 6-14 4-28 4-14 4-13 6-12 63 6-14 4-10 6-7 6-14 6-10 4-7 6-14 65 6-7 4-75 6-14 4-13 6-14 414 6-14 6-10 UNITED FUNDS: 11.11 15 Aprnso Accu 8 62 9.42 13 97 IS 27 Shields Company 25 "4 5 10 15 19 35 14' 571-, 94 "4 12 17V4 441 7 1 J4 19 251ii 15' 4tl3 16 "4 41.

lfl'i 2' 4 1614 14 34' 26- 12' 19' 12's TonVnCO .40 5k TownCnl .32 TrnnsLx .60 Trnn WA wt Trnnsolrco Trn Rencon TronsCA .40 Trnns In Co Translnv pf T'nsonrm Trl Pac Trl Contwt TroplcGas 1 Indus Tubos Mex Tvco Lnbort 11 Brand .30 I Corn Unexcel Inc Union Coro Un GnsC .44 Vn Invs Un StkYris 1 UnAIrP Un Ash UnBonrd .20 Un ConsoOII Un Foods 51 UnlndQi wt Unit Dve USCero 07d US FllterCo US L'os .24 US NatGns US Polvmlc Rod 10 Rltv .88 US Rede USR11R Unltrnde Co UpvClear 31 9.39 10.27 53.B6 74.58 90 88 77.81 imermtn oos Jncksons Mln Mkt Kaneb PIpeLlne Leasewav Tronsot Lone Star Brewng Ltv Electrosvs Mach Madison Mavs JW Inc Merck 8. Co Noll Lend 5 Norrls Ind Poc Nowest BellT Parvln Dohrmonn IB "0 45' 17'- '2 13'- )t 27 19H- 261- 9 153- 4115- tl 16'- incom 15 05 16.45 Scien 9.97 10.89 Un Cn 697 7 62 VALUE LINE FDS: Vol Lne 9.38 10 28 Val Inc 6.60 7.23 Vol Sol 9 51 10 42 Vanard 5.56 6.08 Varied In 5.91 4.42 W.C. Shearson, Hammill Co. Incorporated Singer, Deane Scribner Moore, Leonard Lynch Iacerperatcd A. E.

ftuten Co. 29 47 28 .47 5.67 6.19 18 45 20.161 15.53 16.97 15.99 16.66 13.34 5 49 6.00 in 87 11 Com St Ful Ad Grth Ind Grvohn Guard Ham hda Hartwel Hedoe Horace Hub Fnd ISI Gr Imo Coo Imo Gr Inc Fd Inc Bst Ind Fnd Ind Trnd Ineerporatcd Elkins, Morris, Stroud Co. Thomas Company, Inc. W.H. Allegheny Power Net Shows Gain for Year NEW YOJIK, May 28 (AP)-Allegheny Power System Inc.

reported Tuesday net income of $33,610,301 for the 12 months ended April 30, up from $32,192,038 for the same period last year. Per share earnings rose to $1.74 fcom $1.67 in the comparable 12 months last year. Operating revenues were $223,219,945, compared with $215,186,636. 18 45 "4 17', 13' 22 20 26' 95 15'2 5 16' IB'! 2914 17 35' 2' 17'4 20' Hallowell, Sulzberger, Jenks Co. Cunningham, Schmertz Inc.

Newburger Company 1 viKing or I S3 B.51 WollS In 17 27 13 41 94 76 62 13 2 4 60 945 73 271 60 65 20 3 119 143 37 90 52 23 52 7 36 I 18' '4 oni 9 79'Wsh Mut 13.12 14.34 11 66 14 91 1 Well Fd 13 11 14 9.714 Vi 9 29 10.16 17 14'3 7 89 8 6' West Ind 12.95 14.1i!Whlthl 07 17 56 Wndsor 8 8 OS Wlnfld .40 .20 .10 .15 .35 15.61 16.88 19.53 21.23 14 92 1 31 35 Penn Glass Sand Petrolane Gas Sve Rollins Ine Rovol Lrcwn Cola Rust Croft Std Prudential Tfans-Lux Transwstn Plptl Victor Eoulo Western Union WhecllnpRL Woodwcf It Ind Am Ins fc Bnk 5 37 5 87 wiscon a 01 16 30 Worth iu ai 6 38 4 96 12' 19'-! ln Bns 1193 15.22' x-ex-dlvldendl 6-14 12' 1 45', '4T 4'i 4-'4 INVEST GROUP STOCK SBUI. Mut 11.44 1241' 4'S.