Florence Morning News from Florence, South Carolina • 22

WEEKLY WALL STREET WEEK IN BUSINESS Tlorrnrr lllofninu jXftos BUSINESS NOTES 1000 990 980 l1975j 11976 1000 Sony Corp! was the 850 800 I Seaboard Coast Line Kailroad The option itself is cheaper ft today because' of Liberty Life benefit libertiy life ATTENTION NOW OPEN MR BUSINESS MAN" Pee Dee Office Supply Why Not Let Us Give You A Quote? Oi a I for safety performance in the annual Harriman Memo rial Awards for railroad safety Only one other major railroad in the States had a better safety record than SCL for 1 975 In ceremonies held at the De payable on June 15 1976 to the holders of its common stock as of June 1 1976 This is the 43rd con secutive quarterly cash di vidend declared by the company since it went public in 1965 The Board of Directors also declared June 111976 as the re cord date for shareholders enti tled to notice of and to vote at the annual meeting to be held on August 12 1976 Week of: Mij 21 DECLARES DIVIDENDS The Board of Directors of Ec kerd Drugs Inc has declared a cash dividend of $08 per share 20 1976 The dividend totals $54588480 on 1819616 shares outstanding DIVIDENDS ANNOUNCED COLUMBIA The board of directors of Bankers Trust of South Carolina has declared a regular quarterly dividend of 30 cents per share The dividend is payable July 1 "COMPLETE LINE OICE SUPPLIES I URNITURE ree Delivery Drive In Service EDITOR'S NOTE the capital is to go backward in time to the high points of our history Hundreds of thousands of Americans are making that journey in this Bi centennial year an ac count of one two day tour 150 ANALYSIS The Dow Jones average closed at 99075 riday down 185 from the week prior Analysts attributed lack of investor interest to con tinued worries over in terest rates and the money upply (AP) ILL IN THE ORM AT THE RIGHT AND MAIL OR COMPLETE INORMATION TO SALES REPORTED ORT WORTH Tex Radio Shack's consumer sales in the United States and Canada for the month of April 1976 were $59 100000 a 42 gain over com parable sales of $41500000 dur ing the same month in 1975 Tandy Corporation parent company of the Radio Shack store chain reported sales from continuing operations during the month exceeded $6420001)0 a gain of 36 over comparable sales during April last vear of $47300000 842 SO IRBY LORENCE PHONE 669 2423 Convenient forking By The Associated Press The biggest com pany was among corporations holding their annual meetings this past week but not every one got good news at their yearly gathering Exxon Corp however an nounced plans for a two for one stock split which would in crease the number of its shares to 500 million and presumably cut the stock price enough to encourage wider ownership Exxon stock closed at $10150 a share the day of the an nouncement and stood at $10075 by end The 'stock split measure has yet to be approved by shareholders At the annual meeting of Anaconda Co a former Ana conda executive nominated himself from the floor tor a board position and won election as a director Joseph Woodlief 56 was backed by the Crane Co and Crane Chairman Evans Crane owns Anaconda shares it picked up earlier this year in a tender offer which a federal court allowed to proceed only after Crane promised not to take an active role in Ana management Woodlief said he wasn't con nected with Crane but some saw his election as a reminder that Crane still had influence in Anaconda's affairs JC Penney Co shareholders heard from Chairman Donald Seibert that the company made improper payments of $98000 from 1971 through 1975 Seibert didn't describe the payments except to say that they weren't political and they weren't continuing Xhdlint Branch Oiice Metin Street Midlins SC Call76T72l RECEIVES AWARD 1 LYNCHBURG Mayor Clif ton Jefferson of Lynchburg has been awarded the of the Year Award' by the Morti cians Association Inc meeting at the 51st Annual Convention in Myrtle Beach The first black elected Mayor of Lynchburg Jefferson is owner and operator of Jefferson uneral Home of Lynchburg He is principal of Mt Pleasant High School in Elliott and a member Of the official board of Warren Chapel United Methodist Church than the stock however and options have proven a highly salable item since organized trading was started in them two years ago by the Chicago Board Options Exchange In the can Boyd has been named manager of the Charleston plant and Hor ton has moved up to manager of the Alpha Ohio plant lilai NAMED TO POST Monroe Jones formerly vice president of market ing has been named pres ident of new underwear polo shirts and wear divisions at Oneita Knitting Mills Rube Cagan formerly of Andrews and Lane plants has been named vice president of manufacturing and Melba Dunn has been named president of a new sportswear division WINS HONOR The Days Inn Motel of lor ence has been selected to appear in the 1976 edition of The Mobil Travel Guide This announce ment was made by Bill Weather ford general manager of the Days Inn LIBERTY LlElaauwtt EARNS LICENSE Mrs Melba Jordan has 'been licensed as a real estate broker with Murray Jordan Re 7 alty of lorence She will specialize in residential sales 23 The Murray Jordan Realty is member of the lorence Board 7 of Realtors the lorence Multi 7ple Listing Sendee and the Gre ater Pee Dee Home Builders As sociation Mrs Jordan was formerly as sociated with the firm as asalesperson before receiving her state license as a broker Since their introduction by the CBOE however new op tions markets have been start ed by the American Stock Ex change the Philadelphia Stock Exchange and the Pacific Stock Exchange and over the counter stock dealers have said they're thinking about a market them selves Batten who was recently in stalled in his position by bro kers worried about the NYSE's strength in an increasingly competitive environment told newsmen his contract with the exchange will be for three to five vears at a salary of $300 000 to $400000 a year thwart the economic recov ery and make interest bearing investments are attractive than common stocks On riday Citibank kept its prime rate unchanged at per cent but this apparently did not south the in terest rate worries Smith oster Insurance Agency Inc PO Box 3668 lorence Or Call 669 5091 662 2414 who cure about winners you see NAMES OICERS An official with the Exchange Bank of Kingstree was recently named president of the Pee Dee to shareholders of record June Chapter of the Bank Administ ration Institute a professional banking organization Robert Arnette succeeds A Skinner Jr of lorence as the new chapter leader Two Sumter bank officials were named as new officers in the chapter William Price of South Carolina National Bank and Mike Blake of National Bank of South Carolina will serve as vice president and trea surer respectively David LeRoy Bailey Jr of irst Citizens Bank in Dillon was elected secretary Chapter Directors are Ms Madeline Cnnnallv of Ouinhv Marion Edwards of lorence Emery McElveen of Sumter Tracy Kea Jr of Bennettsville Wallace Corley of Marion A English of Manning Warren Severance of Timmonsville and Karl Walewski of Hartsville SCL Wins Safety Award A former Penney's chairman William Batten 66 met newsmen this past week in his new role as chairman of the New York Stock Exchange He told reporters the country's big gest stock market was consid ering selling something besides stocks Batten said the Big Board was thinking about getting into the stock options business An option is the right to buy or sell a stock at some point in the fu ture atterpnce changes which may or may not work to the advantage of the buy HEADS IRM HUMBOLDT Tenn Her bert Levy president of Herit age Sportswear in Marion has been named a vice president of Wavne Gossard Corporation of which Heritage is a division The election was made by the company's Board of Directors at its meeting in Chicago Ill on May 6 Levy is the founder of the bus iness now known as Heritage Sportswear He established the business in 1951 as Herbert Mills Company beginning with ten employes In 1968 the Herbert Mills Company and related businesses were sold to Wayne Gossard Corporation and Levy has remained active in the management Heritage Sportswear now has two plants in Marion and a distribu tion center in Lake View The company manufactures and sweaters and knitshirLsforlarge private label customers and markets throughout the these pro ducts under Heritage brand By ARRY ROSENTHAL Associated Press Writer WASHINGTON (AID So this is the year you are finally going to visit Washington Welcome friend but be pre pared Prepare to walk wait in line lose your way Prepare to be crowded hot thirsty hungry tired Prepare to be lectured at informed misinformed awed bored Prepare to be slave to a map and a seeker of rest rooms And be ready to be over whelmed proud and immense ly more secure in your knowl edge and emotions about the United States An early prediction was that one of every live Americans would descend on Washington this bicentennial year That fig ured to be more than 40 million people and struck area resi dents as suspiciously high and frightening Now the projection is 17 mil lion a 30 per cent increase over 1975 and an awesome 23 visitors tor every one of Wash 730000 residents Even counting the three milhun plus persons in the metropolitan area tourists will outnumber Washi ngt onians fou (Hine That has prompted at least one airline to advertise that a trip to lorida is a line way to escape the touristy hordes It also has caused the city to ban parking any place a tourist might want to and to set at a nominal cost bus serv ice from lots that will be superb if the reality is only half as good as the promise Police are adding strength and Chief Maurice Cullinane assures that no matter been written crime rate is lower than many cities of comparable size Humorist Art Buchwald look ing askance at the expected in vasion notes that "in the day time you would be as safe in Washington as you would be at night in Central During the Easter vacation rush and an unseasonable heat wave that hinted strongly at things to come a resident ac Washington DC David I Hastings executive vice presi dent of SCL accepted the awara from Asaph Hall Railroad Administrator and Averell Harriman former ambassador at large and gov ernor of New York and the son of i the man after whom the awards are named In accepting the award for SCL Hastings said "Safety is of primary importance on our rail road system Our emphasis on safety is constant and this aw ard illustrates the dedication on our employes toward making safety first both on and off the The Harriman Awards were founded in 1913 by the late Mrs Mary Harriman in memory of her husband a pioneer in the railroad industry Iler two sons Roland Harri man chairman of the American National Red Cross and Averell Harriman have carried on the awards The Harriman Memorial Awards recognize railroads in categories accord ing to their respective man hours worked SCL is a member of the largest class of railroads with 20 million or more man I hours worked per year and competes with all major rail roads in the awards competition each ear ACHIEVES RECORD Sales volume for Low Com panies Inc in April 1976 totaled $47975006 the largest monthly sales ever achieved by the com pany This April 1976 sales volume was an increase of 40C over the April 1975 results and an 12 gain over the March 1976 sales totals Sales during the first nine months of Lowe's fiscal 1976 to taled $323125000 a gain of $91575000 40 over sales of $231550000 during the same nine months one year ago They won But you get the rewards! RECEIVES AWARD 5 AtkinsOn Wimbish Inc lo cated at 329 I rby St has been awarded the iatLancia franchise according to Bonner director of public rela tions Harry Atkinson is presidentand Donald Wimbish is vice president secretary of the in corporation EARNS MEMBERSHIP Terry Mills of lorence is lime of five representatives of Dictaphone Corporation's Col umbia District to earn member ship in the company's Achieve Jnent Club for outstanding per formance in 1975 Millshiswife Judy and their jlwo children live at 8 Bayswater Rd in lorence COMPLETE COURSE I Bob Strickland of The Strick land Co Inc has completed Course 302 in Management of Of fice Buildings presented by the Institute of Real Estate Man agement in Boston Mass MAKES PROMOTIONS HARTSVILLE Edward Iennon Michael McGee Hal Boyd and John Horton have been promoted by Sonoco Products Co to branch plant management posts in Tennes see Virginia South Carolina and Ohio respectively Lennon was recently named resident manager at the New port Tenn converting plant and paper mill succeeding Timmerman who has been appointed vice president man ufacturing at Sonoco products Chester Va plant replacing Northcutt who returned to the Hartsville plant as manager of spiral operations By LEE M1TGANG AP Business Writer' NEy YORK (AP) The stock gained 3 to 53 stock market re used to move 1 off dead center for the fourth consecutive week with traders seemingly keeping their eyes on rising interest rates and money supply figures More than 20000 restaurants motels and resortsarelisted and rated on a one to five star basis in the seven volume Mobil Travel Guide which has been compared by travel experts to iiuioe Micneiin Nation's Capital Hit by Tourist To visit compamed two first time vis itors on a typical tw ctay tour This is what they found: 8:15 am Enroute motel to White House in rush hour Tral lic circles confound the unini tiated Washingtonian tells hor ror stories ol rain and snow and paralyzed traffic State named avenues cutting diago nally across the square block pattern of alphabetized' and numbered streets may have been esthetic when Pierre laid them out in 1791 the visiting motorist needs ad vance study and courage Tourist wife: White House looks smaller than in Resident: what ev erybody 8:45 am White House tour Smart people write their congressmen for tickets in ad has been awarded a silver medal vance Others line up at a tent to obtain a ticket for a sjieci fied time Military and high school bands entertain those who wait others go elsewhere and return Better than past vears when lines snaked around the White House Still 9200 to partment of Transportation in 11500 visitors go through in a single day At midafternoon tlie doors close "After says visitors office director Michael arrell "these aren't mu seum The President and his lady use them when the tourists are gone Outside on Pennsylvania Av enue a lonely picket parades where sometimes there are hundreds "Nion is now well enough to sit in the witness says his sandwich board A visitor unmindful of the irst Amendment asks police man EJ Brosnahan "How come they let that fellow walk around with that Brosnahan: "He doesn't like Richard Visitor: "He ought to shut up about 9:30 a TaxLto Capitol Around the' Teasury Depart ment not as imposing as its picture on the' $10 bill and down Pennsylvania Avenue Resident explains that intended the space between "The and "Congress to be an unobstructed vista But Andrew Jackson Impatient with quar reling over location of Treas ury planted his walking stick in the ground and ordered it built The group of representatives in headed by Altman is the Number One Staff in" the entire Liberty Life organisation They vc won a lot of honors 'and recognition panywas in "better shape than that rising interest rates might ever hor the week Xerox ock sained io dJ Exxon also helped fuel Thurs rally by announcing apr oposal for a 2 for stock split Its stock was up to 100 fur the week But interest rate worries took The Dow Jones industrial av center stage again' on riday erage lost 185 at 990 7s I he week before that it dropped 362 two weeks ago it lost 063 and before that 386 You get the rewards because' the men and women of Liberty Life arc real prosrpros you Especially the above ONE Left toritfm'G Gmynartie I lartley Graham Juc Smith Uv 1 Tamilian IK I Till A Tyndall WE Allman I Staff Manager) But the real winners arc the people helped The families who have secure futures with out fear of 10 SUNDAY MAY2JJ976 LORENCE MORNING NEWS I Workings people business peopleall kinds of people People like You up a sharp $2 billion have upgraded the electronics Recent weekly increases in cornPany outlook money supply have prompted the ed to use its American Telephone Tele considerable influence to raise graph also actively traded lost Commercial Banks Show Increase in Gross Loans iT RICHMOND Va According to weekly survey conducted by the ederal Reserve Bank of Richmond gross loans at 27 of 'the large commercial banks in the ifth ederal Reserve Dis 22 trict increased $180459000 during the week ending May 5 rais ing the total outstanding to $15905897000 Loans to domestic commercial banks rose $141243000 Loans other than those to domestic commercial banks or loans adjusted gained $39216000 Demand deposits climbed 361084000 while time 5" deposits lost $2107000 Investments fell $30879000 igures for the 27 bank report showed that financial loans 'T increased $17965000 Of this total securities purchased under resale agreements with brokers and dealers gained $16 191 0(H)' 2 and loans to financial institutions other than domestic com mercial banks rose $3386000 Loans for purchasing and carry 1J ing securities lost $1612000 Nonfinancial loans increased $21251000 Of this total con sumer installment loans rose $7234000 agricultural loans gained $1974000 and all other miscellaneous loans climbed $19532000 Real estate loans declined $4530000 and Commer cial and industrial loans lost $2959000 Included in the ifth ederal Reserve District arc the Dis trict of Columbia Maryland Virginia North Carolina South ff Carolina and most of West Virginia Ylr Huh Close Corporations Meet With Mixed Options Has The Cost Of Your irms Hospitalization Increased? IN OVER 90 ALL CASES WE HAVE BEEN ABLE TO REDUCE COST WITHOUT SACRIICING QUALITY when the Dow lost 652 Touch ina ntf rnnrnrn use nnuc sc th market was closing Thursday most active Big Board Issue that the ederal has ahead to 97h ori turnover ut Analysts seemed divided into ic money supply figures were L455 900 shares Some analysts two camps in interpreting the market's month lung paralysis The pessimists who appeared to be a majority felt the mar ket had gone about as far as it would in its 1975 76 rally that interest rates Wall Street fears Da to 551 saw the Dow limb some 400 points Others like analyst Robert Stovall of Reynolds Securities Inc took the position that the market was hanging tough in the lace of grim news particu larly the recent rise in short term interest rates and a rapid ly climbing money supply more impressed bv what the market isn't doing than by what it is Stov al said last week or the week dedines out numbered advances by a 9 8 margin among New York Stock Exchange listed issues Big Board volume totaled 9187 million shares down from J1838 million the previous week The market made no signifi cant moves either wav until Thursdav's session when it ral lied to gain 837 points In that session traders put aside their concern over rising interest rates and responded to upbeat news about two ot Wall Street's favorites Xerox Corp and Ex xon Corp Xerox at its annual meeting said it was considering a divi dend hike' and added the com 9512) Market Analysis pls DOW HUES 30 INDUSTRIALS ff 300 1 1 1 1 1 I A 0 I Stock Market Refuses To Move from Position A Vy Mon'' lue Utt Thu fi tY 'Yj 60 I kj 1 Ml' A HB Alt 41 He JBMJo i i JlaIl BwbK'j name I ADDRESS 7 1 2 1 CITY I I PHONE i I.