Detroit Free Press from Detroit, Michigan on May 11, 1960 · Page 18
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Detroit Free Press from Detroit, Michigan · Page 18

Detroit, Michigan
Issue Date:
Wednesday, May 11, 1960
Page 18
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MEN AND JOBS One Leap to Plastics Jersey Standard Uses Texas Oil to Make A Gush of Polypropylene 30,000 sq. ft. AIR CONDITIONED OFFICE SPACE Downtown on Expressway 45,000 sq. ft. manufacturing r warchous ipa. Olds Names WORLD OF WHEELS TTiTprl fTiyclv TPnvlvin Sales Chief, 3rd in Row JL 1111 VI VJ111 J UlVl JL 111 JJlll'U T r A . . HP . O d? uue ior uiio i est ooon 1JJ Wednesday, May 11, '60 DETROIT FREE PRESS 1C a Chrysler Corp. revealed Tuesday that it has a new lightweight gas turbine engine offering the acceleration and fuel economy of piston engines. George J. Huebner, Chrysler executive research engineer, said that from both engineer ing and cost I U IN THE US CD CAR JUNGLE.'" standpoints i t could be produced for cars within six years. The engine, he said, will be put under test in a car probably within six ! weeks and in a truck before :.thaL It rates 140 horsepower, but is comparable to piston engines of 185 to 190 horsepower since there is less power loss. The engine serves as its own torque converter, Huebner said. HUEBNER SAID the acceleration lag in flooring the accelerator has been reduced to IVi seconds, which makes it comparable to a piston engine with automatic transmission. Once the lag was 9 seconds. , The high heat of turbine engines, Huebner said, has been licked by new alloy materials discovered by Chrysler. The tooling cost . for the turbine engine would be "somewhat lower," he said. The engine's simplicity would mean savings in servicing. The turbine roar has been eliminated, Huebner said, and the "low singing noise" of turbines will be. Huebner also envisioned use of the turbine in heating, cooling and providing electricity for homes and in space vehicles. HE DETAILED the auto version before the American Petroleum Institute in the Shera- BY FRED OLMSTED Free Press Automotive Editor ton- Cadillac Hotel, but he warned: "It still has some distance to go on the development path." The new engine, third in the Chrysler series, weighs only 450 pounds, 150 less than a comparable piston engine. It has 80 per cent fewer parts, is air-cooled, has a single spark plug for starting and , will operate on almost any liquid fuel, including kerosene or diesel fueL In 1956, a turbine-powered Plymouth made a transcontinental run. Two years later a newer version powered a Plymouth 576 miles at 19.4 miles per gallon. Of the latest model, Huebner said: "The major problems have been solved. It remains only to consolidate gains so that the turbine can make available a low-cost more convenient and reliable power source than we have yet seen." Sees More Plastics Use Use of plastics in cars will triple by the end of the decade, William P. Gobeille, American Motors Corp. plastics operation manager, said Tuesday. "The average 1960 automobile has 20 pounds of plastics, compared with 11 pounds six years ago," Gobeille told the Society of the Plasties Industry at Miami. "I believe we will reach 60 pounds per car by the end of the 1960s." He said this does not include plastics used with other materials, such as vinyl upholstery, floor mats, paint and laminated glass. To Hold Doicnriver Show Twelve Downriver dealers will display more than 50 cars in a Downriver Auto Show to be held Thursday through Saturday, May 21, at the Sears shopping center, Southfield and Dix. Summer and beach fashions will be shown in conjunction with the car display. The show hours will be 9:30 a.m. to 9 p.m. Herbert Charnock, Lincoln Park Oldsmobile dealer is show chairman. TODAY IN BUSINESS Railroad Spokesmen Paint Crisis Signs BY KENNETH Free Press B Strong signs that American railroading is at the crossroads of survival came from a half dozen directions Tuesday. The nation's largest road, the Pennsylvania, reported to stockholders that the first quarter continued nearly three years of deficits and officials said Pennsy's economic salvation lay in either merger with one or more other railroads or in further development of the piggyback hauling of truck trailers. The latter was held up as a bright hope of the future and a string of office-speakers joined in the current railroad theme: "Mergers are a must; they are bound to come." A "bleak 1959" was painted and stockholders of the Delaware, Lackawanna & Western, merging soon with the Erie Railroad, heard similar words. First-quarter results were "disturbing and disappointing" and the merger will be a great rescue, they were told. The Seaboard Air Line Railroad and the Atlantic Coast Line are working "hard" on a merger, it was announced, and in Washington the New York Railroad's head pleaded with Congress for repeal of the 10 per cent excise travel tax and elimination of subsidies to all other forms of transportation. Motor Products Over Hump Motor Products Corp., in its new form, appears to have made it over the hump. A long-time maker of autocomponents at 11801 Mack and an employer of over 2,000 persons at its peak, Motor Products was forced to the wall four years ago by the movement among the Big Three auto makers for producing more of the components themselves. Under the helm of Ray Nigro, president, the company has acquired five operations in the last two years, one of which has utilized the Mack plant as a steel warehousing operation. The other four activities, all out of Michigan, cover manufacture of parking meters, water pumps, winches and gears and A. THCrtrrSON usiness Writer research in rare earths and electronics products. Nigro announced that sales and earnings for the nine months ended March 31 increased substantially: sales jumped 50 per cent to $9,405,049 and net earnings nearly 100 per cent to $1,249,636 over the came stretch of the preceding year. Steel Industry Fights Back. Several'producers in the steel industry have given indication that a concerted movement is underway. Most members of the industry have been spending substantial amounts for additions to capacity and now face slackened demand for steel. A long-term drive to meet competing materials such as aluminum and plastics head-on and thus expand uses of steel is shaping up. A new evidence of this was the announcement Tuesday by M. K. Schnurr, president of the Stainless Steel Division of Jones & Laugh-lin, that his division is going all-out to support and bolster its distributor-service center system of selling steel. Distributors have been well entrenched for many years as outlets for steel but in recent years the mills have been pulling customers away from distributors by processing their orders. The J&L move counters this trend. The Stainless Steel Division is the former Detroit Rotary Electric Steel Co. That makes Detroit the division's and Schnurr's base of operations. s Enough for 2,135,000 Homes Eight truck-trailers carrying 160,000 pounds of booklets, enough for one to each of the 2,153,000 family homes in Michigan, were driven from 3333 W. Fort to the Detroit Post Office. It was the largest all-at-once mass mailing ever dispatched in Detroit. The booklets were the "Ideology and Co-Existence" distribution by Moral Rearmament and were addressed by American Mailers, of the Fort address. Toronto Stock . TUESDAY LEADING STOCKS Issue Sales Cons Mosul 105.020 Murray , l 950 Kieuw Mv am 57,100 Cons Hailiwell .?50 Ponder Issue Abit Alb Gas Atlas Steel Brit-Am Oil I?. 750 INDUSTRIALS Close 39.37' 2 20.62"j 23.37V2 Z8.5 . Roll TpI 44 A Cdn Brew 34.37V2 Cdn Curt 1.60 Dist Seas 29.00 Dm Fndries 44.12Vi pom Stores 50.50 Ford ot Cdn 55JANIUMS Total sales, 1,640,000 shares. issue Gen Dev Imp Oil Int Pipe Loblaw 'B' A V Roe Page Hersev Trans Cdn Trans Mt Union Gas Walkers issue Algom Bicroft Cdn pyno Rennison araday Gunnar Lorado Issue Bailey Cgrv&Edmn Cnd Dev Cdn Husky Cen Del Reo Cons. Dragon Dome Pete Home Oil 'A' Hudsn B Oil Long Point Close 10. 37 V2 .53 .32 9.45 .76 7.90 Issue Aunor Barnat Can-Erin Cochenour crms D sr ov Dome Mines 11.00 East Mai Giant Yak Kollinger eadway Kerr Issue Advocate 8Regcourt Hailiwell Iron Bav N Coldstrm Chlmo Cons MiS Copper Rand Coulee L&Z Falcon bdg Froblsher Greco Issue Lake Cinch Milliken Lk Northspan Pronto Ravrock Radiore 54 Stanlpiah WESTERN OILS CLOSE Issue 5.65 Midcon 13.87'?j Pam Oil rac reie Permo Gas Place Gas Provo Gas Royalite Oil Triad United Oils Western Dec. New Sud GOLDS Close Issue 2 25 Leitch 1.33 MacLeod wacassa Madsen Malartic New Dick L L Lac Pick Crow Preston Uooer-Cdn Y Knife Bear 2.80 5.60 5.00 .26 7.00 8.50 10.37VJ .58 92 2.89 3.45 14? 10.37V2 22.00 28 11 25 BASE METALS Close 3.25 .06 Vi .43 2.60 .84 7'ivi 1.12 .34 30.75 1.45 14.75 Issue Irish Coooer Jacob Labrador Maritimes New Hosco Opemisko Un Asb Stp Rock Multi Min Sherrit Gord Wlllroy Close .72 .63 .54 .4.3 .43 Close 14.37Vj 30.50 55.75 26.75 5.00 25.50 19. 12' '2 9.12' j 13.75 35.75 Close .70 .85 .86 2.17 .46 .58 .29 Close .38 .33 9.55 .60 .70 2.05 7 55 2 30 1.36 1.00 .40'j Close 1.52 1.00 2. 60 2.93 76 2 71 t.67 .75 350 1.05 1.01 Close .90 1.05 20.00 .81 .30 3.60 8.65 .29 2 72 1.19 Farmers Market Bv the Bureau of Markets The following wholesale prices cover local sales of growers' produce Tuesday: FRUITS Apples, Delicious, Fancv. 5 00-5 50 bu ; No. 1, 4 00-4 50 bu. Apples, Mcintosh, Fancv, 3 00 bu.; No. 1, 2 25-2 75 bu. Apples, Northern Sdv, No. 1, 2.50-3.00 bu.; Apples, Steele Red, No. 1, 4.00-4.50 bu. VEGETABLES, MISC. - Asparagus, No. 1, 1.50-2.00 dz. bchs. Beets, Topped, No. 1, 1.75-2 25 bu.; Carrots, Topped, No. 1, 1.50-2.00 bu. Chives, No. 1, 1.50-1.75 dz. bchs. Horseradish, No. 1, 1.00-1.25 pk. basket. Leeks, No. 1, 1.50-2.00 dz. bchs. Onions, Dry, Fancy, 1.40 50-lb. bag; No. 1, .75- 90 5J3-lb. bag. Onions, Green, No. 1, 60-.75 dz. bchs. Onions, Sets, No. 1, 4.50-5.00 32-lb. bag. Parsnips, No. 1, 1.25-1.50 '-2 bu. Potatoes, No. 1, 2.00-2.50 50-lb. bag. Radishes, Black, No. 1, 1.00-1.50 V'2 bu. Radishes, Red, No. 1, 1.25 dz. bchs. Rhubarb, Hothouse, No. 1, 1.00-1.25 dz. bchs. Rhubarb, Hothouse, No. 1, .75-.85 5-lb. box. Turnips, Topped, No. t, 1.50-2.00 bu. LETTUCE AND SALAD GREENS Sorrel, No. 1, 1.75-2.25 bu. Spinach, No. 1, 2.00-2.50 bu. EGGS-Large, 12.00-12 50 30-doz. case; Medium 10 00-11.00; Small 8.50-9.00. Earnings DWG Cigar 3 months ended March 31: net income $118,945, or 25 cents a share, compared with $130,486, or 27 cents a share, in comparable period a year ago. Sales $4,662,480 vs. $4,825,465 for similar 3 months in 1959. SEC Index WASHINGTON-(AP) - The Securities and Exchange Commission index of stock i prices, based on the closing prices of i 265 common stocks for the week ended iMay 6 shows: (1939 equals 100) Pct.Ch. I960 Last Wk. Pv.Wk. High Low Midwest Exchange BY THE ASSOCIATED PRESS Adv Ross IS"!!--! Jelden Mfg 49?'a Vfc Cent Brew 73-4 la Cham O&R 173-i- ife Chi SS&SB 11" Vs Clev-Cliff I 38V2-1 Coleman C 14 '4 Dodge Mfg 248 Va F WD Corp 8"4 General Box 3 S-ray Dr St 52 7a GL Dr & D 44'4 V Heil Brew 15 Howard Ind 4'Hs-t- 'A Ind Gen C 89V2 V2 HC Lvtton's 7"2 ' Metro Brk 1034 V N III Gas 33' 2- Va N Ind P S 56 "21 NW Bancp 32'.'2 Vi Oak Mfg 16 v Richman B 30H a S Lou Pb S 11'4 Schwitzr C 2434 Vt Thor Pw T 26' 2 "4 208 S L Slle 79"2 Vi Webcor, I 10'4 V4 World Pub 14"4 Trav-ler Ra 7fa Composite Manufacturing Durable Goods ; Non-durable j goods I Transportation ! Utility Trade, Finance I Service Mining 1 New Low 391.2 467.5 448.9 475.5 289.5 230.8 and 430 0 247.9 0 6 0.6 0.5 0.7 0 8 0.5 0.9 -1.2 432.5 538.9 521.6 544.4 329.3 237.6 446 5 299.7 Emmett P. Feely, formerly executive assistant general sales manager of Chevrolet, has been appointed general sales manager of Olds-mobile, it was announced by J. F. Wolfram, Oldsmobile gen-e r a 1 manager and a vice president of General Motors. A s s o c I - Feely rtfiiW-lfc I nr4 Pival ated with General Motors for 36 years, Feely succeeds S. F. Mehring, who has been granted a disability leave from his position r.t Oldsmobile. Mehring succeeded Victor II. Sutherlin, who died last October. Feely will take up his new duties with Oldsmobile May &6 John F. Pival, veteran theater operator, radio personality and TV industry execu tive, has been elected president of WXYZ, Inc., owned and operated radio and TV station of the American Broadcasting - Paramount Theaters, Inc. Pival moves up from vice president of WXYZ-TV, with which he has been associated since entering the industry in 1946. When the station's television outlet went on the air in 1948, Pival was appointed program director. He had been in radio for 10 years and was a theater manager before that. o Max Osnos, president of Sams, Inc., has announced the appointment of James Stro-bridge as manager of the company's new store which will open May 16 in the Taylor Township Shopping Center. Robert C. Dickey haa been appointed -vice president and! general manager of Coated' Abrasives, Inc., manufacturers' of abrasive specialty items. e Four appointments have been made in the Chevrolet sales organization, it was announced! by K. E. Staley, general sales' manager. j Lawrence II. Averill will move from assistant general sales manager for the Eastern half of the country to executive assistant general sales manager. Other appointments are: Herman P. Sattler, from assistant general sales manager for commercial and truck operations to succeed Averill; James E. Conlan, from manager of truck department to assistant general sales manager, succeeding Sattler, and Albert P. Olson, from assistant manager of the truck department to manager, succeeding Conlan. James G. Shannon, Jr., has been appointed regional manager of Tyrex, Inc., with offices in the Fisher Building. BY RUSSELL MacFADDEX Free Press Industrial Staff HOUSTON, Tex. Standard Oil of New Jersey and its affiliates jumped directly into the soaring plastic business Tuesday. The occasion was the official opening of the Polypropylene Manufacturing Plant at nearby Baytown, Tex. The 12-million-dollar plant, whose initial capacity of 40 million pounds a year can be expanded to 100 million, was built by Humble Oil & Refining Co., Jersey's principal domestic affiliate. Jersey long has been a supplier of raw materials for plastics and other chemical products. ROBERT M. Jackson, chemical co-ordinator for Jersey, 6aid the company's revenue from Business Briefs Lovell Lawrence, Jr., chief engineer of weapon systems for Chrysler Corp.'s Advanced Projects Organization, has been selected by the board of the American Rocket Society to receive a 1960 ARS Fellow membership award. Associated with Chrysler's Missile Division since 1953, Lawrence, a recognized authority on rocket flight, will receive the award at the society's 30th anniversary dinner in Los An geles Wednesday. Joshua M. Horwitz, operations manager, Robinson Furniture Co., was re-elected president of Downtown Free Parking, Inc., at its second annual meeting. Other officers: Vice presidents: Richard T. ttrodhead, district manaeer. Delta Air Lines; William C. j Ramlow, vice president, Na-j tional Bank of Detroit; James: B. Seitner, vice president. Cole & Erwin Jewelers, and William Summers, manager, Lafayette Bldg. Harry S. Rudy, vice president, Detroit Bank and Trust Co., was re-elected treasurer, j and Florence E. Cox, Cox & Grace, Inc., was named secretary. The group is an organization of downtown property owners, Turn to Page 20, Column 4 chemical sales last year was a record 250 million dollars. He added that the demand for petrochemicals is increasing at the rate of about 10 per cent a year. Although not Intended to replace polyethylene, Its earlier developed cousin, company officials called p o 1 y -propylene the "most versatile" of all plastics. It retains its shape up to 290 degrees F, which opens wide possibilities for its use in hospital equipment and other items needing frequent sterilizing. IT IS said to be cheaper than cellophane and impervious to chipping and discoloration. Among other endless uses foreseen for the product are rope and transparent film. Humble, however, will market only the polypropylene crystals and .leave to its customers the development and production of consumer goods made from them. Dr. R. E. Wood, associate director of Esso Research Laboratories Division of Humble, said the company spent 15 million dollars on research and development of the polypropylene process. Brokers protected Thomas T. Petzold VEnice 9-1 990 ALL ELECTRIC RANCH Custom built home in Redford Twp., Si Mile-lnkster Rd. area. Zonad, electric heat, 3 bedrooms, 2 baths, plus family room. Lot 100x200. Immediate occupancy. Built-in custom features must be seen to be appreciated. For appointment, call KE 1-1476 weekdays. 12 to 5. Percent of ' Total Circulation TOP 100 HIGH-INCOME COUNTIES TIME 21.6 Life 19.5 Newsweek.' 18. 1 U.S.News 16.9 Look 14.3 Post. 13.7 A BIG NEWS YEAR. . . A BIG YEAR TO BE 'lN The Weekly Newsmagazine EVERYWHERE , MEN WHO KEEP GETTING AHEAD LOANS on Machinery and Equipment J5.000 $250,000 Q 23 in cc W w EG E-t 3 o W S3 O U-, w f-l CO o w EC E-t in w O 'tis i w ti " y - nj . AUt'-te npnti t 2 on II i,'i. , K ft : gj i i ' - .irnn.n. ' i Wl"ca" 3 - e7Wr . 1 2 UNION INVESTMENT CO. 320 For St. W. WO 3-7474 t . -,,,., ..,r rT n.TTrrn t-tm I W Nan. A daXXVA UN &aJVA UN bNIbUd Ni UVaHV "JNUJ bdaa f?s? 'r- - a K v KVwV h V k 1 , - ' ,t ,:,s. i v' u ri w Ji , y ' , - - r . v i' -'4 il l ' Mf- A -A-.... --'(4" ' " " ' '4 M1 , i , - vi r; t ?v - ' - 1 ;U t ' - A V'L -y 'f3, a' ,?A - - .irZ tw, , A-;. -fC'Afs" Jj14& Jf ; ' UT t AAstWf 11 w4 . ,lr.,.. , Z t-Z- ' Vl! ' - Z " " V xjiiSSyAssL. - ' ' ""-c- '' ' , , " J:'" AL1 w : ' , -w-ridA A, - A4 IN BUSINESS READ THE WALL w o c: o o M ( 0(014- (fitted BOSS.. 7 r i V.S..T 5 rfp!ce use .'Vlasfc; that CO o W 51 M CO -1 o CO i W M O i O w t-J t-t CO t-( o 3B8 8 : 464.5! 446.5 1 472.1 287.1 : 216.1 I 414.7 i 247.9 1 Treasury Report Trend of Staple Prices; NEW YORK (AP) The Associated Press weighted wholesale price index of 35 commodities Tuesday declined to 169.45, previous day 169.71, week ago 169.37, month ago 170.25, year ago 170.60. 1960 1959 1958 1957 High 170.62 173.08 176.32 184.77 Low ' 166.26 165.93 168.01 168.25 (1926 average equals 100) 4 "A. . "?J?rAw At- iA -a- r posl- SCRAP STEEL NEW YORK -(AP)- Pittsburgh scrap steel No. 1 heavy was quoted Tuesday by' Iron Age at 34.00-35.00. WASHINGTON (AP) The cash tion of the Treasury May 5: Balance, $6,931,565,401.54; deposits fiscal year July 1: $74,047,138,100.49; withdrawals fiscal year: $77,882,331,119.18; total debt: '$288,798,323,659.33; gold assets: $19,359,140,093.54. Includes $407,749,401.83 debt not subject to statutory limit. FLOUR MINNEAPOLIS (AP) - Flour In 100 lb. cotton sacks: Family patents unchanged, 7.20; standard patents 5 cents lower, 5.65; shipments 45,260; standard bran unchanged, 36.50; standard middlings 1.00 lower, 34.50; red dog unchanged, 43.00. SUREST WAY OF GETTING 6 ON' YOUR MONEY AND YOUR MONEY BACK Buy 6 3-5-7 yrs. First Real Estate Mortgage. Owner Occupied homes worth 3 to 4 times the mortgage. All have Title Insurance and monthly repayment. GRISWOLD MORTGAGE CO. 423 Ford Bldg. WO 3-7280 You II be calling if new for years.. .Every car loses the magic of newness sooner or later. Mostly sooner. But De Soto has a way of keeping its newness a very long, long time. Not the fresh inviting fragrance of new paint, new fabrics, new rubber, but the more important things. The confident whisper of De Soto's big V-8 engine. The way De Soto's Torsion-Aire suspension holds its poise on curves. The quiet luxury of a unitized body with 6,000 separate welds that defy any road on the map to cause a rattle. De Soto's rich, masculine good looks that ignore the calendar. Something else you'll be happy about: lower prices this year mean you can probably own a De Soto without skimping on other things you want. Need still more reasons to drive a '60 DeSoto? See YOUR PLYMOUTH -DE SOTO DEALER.

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