Detroit Free Press from Detroit, Michigan • Page 37

17-U MTKOIT REP, Sunday, Dec. 5, '71 Over-the-Counter Weekly Trading Range Ml Stiver Inaj tj? VruX 37' 12 17V -t 5 1' 2 2 Continued front Page 16B 44 451-- 1 146 29 tt 116 91 19 1 4-9 49 49 RwddickC 12' U' 11' RuaMtl Rtovr .10 nltek Loip XI 44 4' I StrawbClth 1.70b ft! 19' 19'4) 39A. Vt Subacrlptn Telev 40 1H Success Motlvat 1292 7 I'm SuuardaleFd .14 47 14' 4 144 iSunilte Oil Ltd V4 94 14, 5'i 5 5 Ivttemti 7i V-k 7H'4 a 144 14 fl 1 I IH V4 Patroll- 1i6 JTJ 1 I'Af PatllfconeCo .40 2 Tl'a ll'a Photon Inr 21 1 4 Ji 4 PlwloayHain Inc 31 i' i Envjlc ln ll li't ir li'4-f1 Piedmont Avlet Mat UtUnd .) Marine Intl .04 24 I i V4 1'. MClnveet ir4 niv Foods 1 nlv Pub I Dlat niv Tel '4 'N tt 13 10'4 13 JJ' 4. 4 TV tnoutt .400 4 V4 Kleutiolf Bra 414 V4 l'4 6 16 1 2'4 i' in r4- badller In Jtt 4 auperiortl UM 14 1.21 UpperPeriP 1.60 7 4V4 13.i34 9 1'4 3' 4 spireme tQ 3'.

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31 Mtq Sv4 3 3 4 .20 15 15 15 314 3t 3H 911. li. o.a II' Jacobs Holders Recall Chilly Era Continued from Page 12-B fhonlc Electronics then th world's largest maker of phonographs; Scranton which made lace yams, plastics, carpets and electronic components, and Storm Vulcan which made machinery for rebiulding auto engines. Guterma, with his 150,000 Jacobs shares, was certainly ambitious for the stockholders. Too much so, felt the Securities and Exchange Commission, which accused him of stock fraud and of tphoning off more than $2 million of Jacobs money.

The company went into receivership in 1959, was delisted by the NYSE, and Guterma went to prison in 1960 on a five-year sentence. Trustees, digging into the corporate debris, uncovered what tome sources dubbed one of the worst webs of corporate manipulation in American business history. The company owed approximately $14 million. Its then 2,750 or so stcxkholders saw it stripped of its cash, its credit ruined, and the stock in its many subsidiary companies pledged away. It took F.

L. Jacobs Co. seven years to make a comeback from a negative worth of $15.1 million. Today its positive net worth is $4.7 million. The comeback was primarily the result of the labors of the trustees, Harry Garland and Arthur B.

Pflederer. Garland put in 13,156 hours on the project and asked the court for $295,000. Pfleiderer worked a minimum of 8,537 hours to untangle the web and asked the court for $270,000. The court approved both requests. UNDER THE reorganization plan, the new Jacobs company has 11 directors, two of whom are elected by the debenture holders (previously they were the preferred stockholders), and nine elected by the common stockholders.

After what F. L. Jacobs stockholders have been through with Guterma, it was understandable that they might be anxious about the proposal of their management that the authorized stock be Increased from 963,107 to two million. One rumor at the annual meeting last week was that some of the directors might be planning to sell companies they owned privately to the Jacobs company, and that the extra stock authorization might be management's way of transacting the rumored deal. And, if that indeed were the plan, management could go ahead without stockholder approval.

It did not seem that Jacobs stockholders were against acquisitions, but the feeling of those who can't forget Guterma was: Let management tell us what acquisitions it has in mind, then let the stockholders vote the necessary stock increase. Thus it was somewhat surprising when director Harry Weinberg cast his more than 172,913 votes (18 percent of the outstanding shares) against the stock Increase proposal. IU 1H 1H Oual Courts Mot 107 514 148 5' S'A 84 114 in Tliixii "'uuear Micro Quorum Ind 1n4 17' 17'4 WashNatGas 1 5 441'4 Wash Sclentlf 14'' 13' 1441' iWiiste Mngemnt 1 74 I 44lWavnMro .32 12 lO'i 12 1'a Webb Resrcs 2 1' 1' jWeedenCo .400 104 9' 1 1fi "a 1 WehrCorD .60 Snarenldra Cap 14' 14'i2V 164 144 16U2 12' 7 12I'44W 147 54 5'4 S'A 132 20 104 4ft RT Svtrm 114 4' 2' 1 13' 14' F4 i 2 '4 4'4-f 2i J4 ShelnerCoro Arn 462 21' 20 21' Wigadunt Ind 21' 2UH 26'22Si26 14 II 17V 17' 'a 44 zs 170 5 15 17 53 3 28 Ml 6 135 12 50 58 70 47 103 23 132 135 97 05 264 44 16 54 41 II 52 4 4 .15 215 145 383 642 347 SherwoodDiv Sv 14' 54 7'4 46 9'4 14 '4 12'j 4 24 11 utdoor SDts Ind 44 Exp 12 14'4 14J4 91 "4 it' if4' 4' MinneepGas 1.15 Minnesota Fab MIssRfvTrn 1.01 MissVallvGes I MissValStl SO Mo Research MlMourlUt 1.20 3's 3's weiqnt wst 13 l3 1' 1 1 4 4 03,. WelnoertenJ verieMNat Air izite Coro Vj ll'a i3'a2'. lA 176 Kaaianon irtn 4: Radiation Intl 1 Resen Preclson 3'4jRa(Mill Commun 4 2 i-t'4 7 19' 20'4 4 1 "en (jrouo 20' 4 1 ll'i 40 .20 6Va'l 6'a 7'e 13'4 134 '4 1 'f n'f.

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48' 54'45'4 47 Vi 9i 380 33'i 825 5 tVt 38 37 384 31 "4 30 i Ir SouMts, 'Ix 3' 3'4 i'il 2 un a 234 61 Package Mae 1 PeK Well .50 Pakco CM PaKo Coro I Pen Ocean Oil PandlcK Presa Pi noil OH Parker Drllllnq Parkv Getp- PinVvvod. Patrick tnd Patrick Petrol Paul Revere Inv Pauley Petrolm Pavel le Corp PayLtosDra .10 PyL DrNW .400 a 141 14' 15'i WflVM kl 11 141 IS 4-U l'4 IV .37 04V, 04 139 I' 8 49 1234 94 miji 76 133 14 14' 144 contain 7B4 T'tK 7VS1 ilea 83 245 214 19'4 01IA4-13-. MtoeTrAm wt 474 47 5' 21 12' 12 112 k9'-'a 8V4 97s1f' WHsonFroht .40 113 127 lli IIS4 iiioiiwia 1M in 174'i Tr an-lgHom Pd 14 13' 13'4 13'4- Vt I' 180 21 r'u 152 3 24 24 'A RaniEICoat ,50 Raven Induat Rayctiem Corp Ray Go Inc RaymondCp RealfvRefT RealfvRefT on Recognition Redcor RaceCorp Repenty Electrn Reld Prov Labs Rellablelnv .52 RepFlnSvc 1.20 Repub Housing Reulab Inc Research In .400 Responave Envir Reuter Inc Revell Inc ReynlReyn .40 RIceFdMkta .150 RlchaCo 1.45 Ripley Co .16 RIvalMh) .80 RoddwayExp .25 RobbmsMyer Robert! Jhn Robo Wash Rocket Resrch RockvMtNG Roselon Ind Rossmoor Co Rotron Inc Rouse Co Rowan Ind RoweFurn la Royal Castle Sva Sowst Factories) SovwtGasCp 1 SwstGasPd SwstnEISvc 1.01 SouwstnDrg .80 Southwstn Rsch Soverelon Coro Sooceraye Soano Ind SoencerFds ,25 5 3.W4 35 35'4l iwesrnoil sttale 53 3' 3 3'. WeitnPub Vi ZH 31.. 4" 14 2W4J4 4V1 4 m- 'A 1(4 10'.

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PirtfrS I JOb 2', 9' 7H 74 2' n.4 5 7 6' 7 .90 .200 7V4 tlStwilesHoPd is Steak nShak Vt Stelber Ind r. Star Inat Strs INBT Com .14 NCC Industrie NFF Corp NMC Corp NardisDall Narrg Cap Nathan Famous NaKJarRen INatComout Svs NatEnvlrmtl Ctl Nat Equities NatGaeOII Nat Health Svc Nat Hoso Cor (Nat Liberty iNatMtgeFd 1.20 Nat Patent iNatSKRe u.PwlCBWih .40 IPermeetor.Corp 00 29'4 2B'4 294 'a YellowFrotit .72 46 28' 4 27 2'41 I 142 14 13H 134-'A Hn 29 43' 42 42 -IVa Hos 178 16'4 14'4 I6V42 WI.u0?- 491 84 84--1' Unltlllumltg 2.01 101 14 11V 144 3VUnltMcGIII 197 3j 26V Joit- -4' 4 Unit Overtoil 1993 19V 14 19 JlUS Banknte JOb 292 54 46' 52'A4l, US Envelope .60 12 i2v 84 14 13 15 50o 26'4 24'4 25'4 2h 2' 214 23 6'4 J7 4 Younkarar 1.05 16 24 24 2e Ve Zenith Funding 121 7Js 6V4 4 4a 7nlth Lebs 22 154 1414 151 1 ZionsUthBnc .72 53 1 Stemer Llqhtng 7 iStlrllnq Homex Stlrl Horn pt2.4 ,1. ic cc 17 49 62 69 40 3 2't a i- 1 i-t- petro Lew a 447 45V4 41' 4544V4 1 268 UVt 12 12 10 73' 441 fc'ilij 37 I' I'A 1' SBCCicll waasweaw4aeaww74liwaeetiewttff MUNICIPAL BONDS Ohio Tnpka. Auth. 1H'92 UKia.

1 make. Autn. 4.u i Asked 90' a 87 82' 88 92 101 Penn. Tnpke. Auth.

3.10 '93 Announcemei It 100' 79 Bla) 88'. B5 79' 86 90 99 98' 77 67' 81 684 85 910,4 90 76-' Port of N.Y. Auth. 44 '03 Port of N.Y. Auth, I 703 Rich'd Per sbg T.A.

Ve. 1.43 "95 Virginia H'way Comm. 3 West Va. Tnpke. '8 (Flat) CORPORATE BONDS Am.

Tel. Db. 3'4 due 7-1-90 Beth'lem Steel Deb. 5 40 due 1-1-92 Con. Edison, N.Y.

1st Mtoe. 4V Ret. 44 due 6-1-M Consumera Power, 1st Moe. S' duo 7-1-94 Det. Edison, Gen.

Ret. 4 due 12-1-94 Gen. Motor! Accept.) Deb, 5 due H5-77 Household Finance, Deb. 4 dye 1-15-77 Pac. Gas 1st Mtoe.

eVRef. 5'l due 4-1-W Standard Oil Deb. 41 a due 10-1-43 68' 82 694 844 86 924 91 77 Bid Asked 89 91 38 40 43 4( 87 8 7J' 75' 861 1 eu'a 72'. 7 74' a 87 89 77' a 74' 74 86 88 781a 60' 88 90 73 75 77 80 78 78 86' 88' 92'. a 94 95 97 96' 98' 97 99 78 80 79 81 77' a 10', 94 98 98 100 85 87 92 94 83' 85Va 45Va 47Va Chelan PUD 1 S's '13 Chepeake Bay Va.

Si 2000 (Flat) Chic-Calumet Sky. 34 '95 (Flat) Airport 44 '99 Columbia Stor. Pow. Ex. '01 Delav.re Tnpke.

4'. '07 Douslas Wash. PUD 1 4 'II Fie. Trike. AWh.

43 '01 fcrarrt Wash. PUD 2 I7 '05 Grant Wenepum, 3.IS '09 N.O. Exp. 4.90 '06 III. Toll Rd.

Com. 34 '95 III. Toll Rd. Com. 44 '98 Indiana Toll Rd.

Com. 3' '44 Jacksonville Exp. A. Fla. 4.10 '03 Kansas Tnpks.

Auth. 3 '94 Kentucky Tnpke. A. 4.85 2000 Mackinac Br. Auth.

Mich. 4 '94 Maine Tnpke. Auth. 4 '89 Md. Northeastern Exd.

4' '02 Md. Br. Tunnel 5.20 '01 1 Mass. Pont Auth. 3.80 '04 Mass.

Tnpke. Auth. 3.30 '94 Mass. Tnpke. Auth.

4.15 '02 Mass. Tnpke. Auth. 4-5 '02 N.J. Tnpke.

Auth. 3V4 '85 N.J. Tnpke. Auth. 44 '06 N.J.

Tnpke. Auth. 5V '08 N.Y.S. Power Auth. 3.20 '45 N.Y.S.

Thru. Auth. 3.10 '94 Collectors. 82 83 U.S. steel, sub.

4 due 1-1-94 654 664 MAJOR MICHIGAN MUNICIPAL JALU OVER VMM Week ef November 29 throooh December 1 Btntteef MaturltlM Ylelde Minvunr municipvinr rurpose 4,690,000 Hartland Con, SO (Q) Sch. jxjw on roe to. inter, afj sen. 1974,2001 2.40-6.10 197281 9.00-3.40 197298 3.2W.10 197A2001 3.863.75 350,000 Shelbv G.o. 197291 3.00-5.45 4,825,000 Oaklaml Co.

G.O. Wtr. 750,000 Gladwin Co; G.O. Sew. 30S.000 Bansor Two, SAGO 200,000 Midland Co.

G.O. 1,000,000 ClarencevllH (Q) Sch. Dlst. IV2OI N.R. N.A.

N.A. 197397 3.25-4.13 Toronto Slocks INDUSTRIALS Close Slock 6'4 Inalls Stack Abltlbl Postmasters of America will accept a limited number of new subscribers to its 1972 series of medallic first day covers. Subscriptions must be mailed no later than December 12,1971. This will be the only time that subscriptions for the complete 1972 series will be accepted. 64 inland Gai TflOzlNA Corp ate Company.

474 Int Nickel a4 llnland nosti Ackland Alta Gas Aora) tnd Alooma Stl Arpgs imerpooi I High Low Close 40 5W 177 14'l4''e 484 4 414 274 274, 309' 30814 308V4 31 314 314 300 ZIBM 17 intpr pip 10'4 InvGrpA 200 zlntnl.Pper 1800 ilntntl.Te&Tel 15 15 15 541 SO' 544 Jockey CI 11 JO 20' 274 274 1300 zJohns-Manville 27jBank Kaiser 204 20V 28 28 Aiser A umkHim 50 IKi 30's 46 2.75 1.65 Labatt Lont Ce 8-16 e-ia 18'4 174 18'4t 100 zKautmarABroad i 39 39 39 Laura See 414 42Va 76 )Co A loo 254 21 Vs 93 30 17., Lob Co 00 zKeiiooo co. 200 zKennecott Cpr ,800 zKrogr Copr. 1100 lakey FndrvlV 24 ir 21 Jl'4 93 894 30 28 I'A 10'5 10'4 41' 31' ueii tanaoe Block Br Bovls Corp Bow Valy BC Forest Bums Fds Calsary Pw Can Malt Can Packarl Can Perm Cdn Brew Cdn Cablesvst Hydro Imp Bank Ind Get ICS 414 42 38 414 304 28 2t 45 41' 124 IT 28 8-16 414 42' 394 fi 284 2Bla 7'4 354 41 'j 13 I' 5B'4 trr 7i4 284 IS3 41 '4 14 17's 79' 29. 10V4 70,4 33 29V 29 11 53V 125 504 I3O0 iLiv.inc. 200 zLltton Indust.

2500 zMrfnufacHanover 500 zMarathon.OI 1800 zMarcor TOO McLoulh Steel 2000 zMid.So.ytHHiej 100 zMlnn.Mm&Manfee, lwm 7MORIL Oil zAbbotf Lab 100 zAdmlral Copr 100 zAIcan-Alum. 100 zAIIeoheny Pwr; 300 zAIIied Chem. 500 Allied Suormrkta. 100 lAllia-Cfialmers 100 iAlum.Comer. 400 zAmerada Flesa 600 zAmer 300 lAmer.

Brands 400 zAfnsr.Can Co. 1S00 zArnsr.Cyanamld 1300 jAmer.Elec.Pwr. 2900 zAmer JiAotora Ml 7Amer.Nat.Ges 2300 SOO zAnaconde Co. 100 zArlx.Puberv. 800 iArmeo Steel lOO Amtel-Tefptd 300 tuO zBethlehem Steal 100 zBoeing Co.

tooo zBolse Cattoede TOO I Borden, Inc. 200 zBoston Edison JOO zBrlsol-Myers zBunker-Remo 800 BurrouehsCorp. 300 zCatrpllr Tractor 200 zCelsnese Coor. KM) zCentH 100 zCemrl.lli.Pub.Sef. I00O zCbesoeBkeliO.Rai 22O0 Chrysler Cor.

500 zCki.Gas&Elec. 16V 16' Ltd 58'e SUM 311 3M 454 155 48' 45 264 13'a I8V4 S3 15AI 2oA Cdn Tire Caplt Dlv Chemcell Columbia Comlnco Holiday I Con Bldg Cons Gas Crush Intl 2i, Z5 16 16 17' ISVi 264 25 374 37 ,634 41 4 4 204 18'4 5's 134 23'J 34H ISVa 12V 124 141' 132 cyanus A i' Loeo 26'4 MB Ltd 27 Mass-Fer 174 Met Store 18V a Moore Morse A 124 Noranda IY NorCtlG 14 4 OSFInd Qshawa A 124 PaoPete 36 Peel Elder -53 Pembina A 4.50 Pembina 3.00 Petrofina W't Rothman 10'; Royal Bank 1.65 Scott 19'-e Shell Can 18' Simpsons S-t Simpson 27 Slater Stl 22 rd Brodcst 14 Steel Can 20''4 Suptest od 8'4 Teledvn 6,, Texaco 48 Thorn Nes Tor Dm BK 11J Tradera A 16 Tr Can PL T.ra 4'4 UnCarbld ff Un Gas 13! Onion Oil 25 Versatile 2.20 Walnoco 28 Walk GW 28' Wldwnod 174 Westburne 43'4 Cdn Seed 171 11' 'st Se. 5eeo ofasro 6 141 'a 40'4 66 a 24'a 185-e 48 28 24 loo zMonsanto Co. 300 ZNC 100 zNat.DlstaVOiem 600 zNatl.Gvosu"! ,600 2Natoas Co. 600 iNew Enfl.Elee.

100 ZNew Ena.TeliTet. zNlaa.Mohwfc Pwr. 500 ZN Indust. 300 zNorttieas Utll. 1000 ZNorth.lnd.Pub.

800 Northwest Air 3900 zOccidntl Pet. 1100 ZOhio Edison 1O0 zOlln Copr. 300 zOwens-lll. 600 zPacil.Pwr.Loht. 500 Panacon Copr 2000 zPan Am.

25O0 zPenn Central 1200 zPeooles Gas 300 zPeosI Co 7f TPl7er 454 26, 13' 18 4 56'4 12's 244 38' 11 224 151 434 22''a 3'4 IT'S 5 31V 63' a 38i iaia iv," oiwi 10 ft At tit 'A 40' 68' 26' IB 24 40'4 68' a 26' 184 46'4 27'- 234 34' 3 i i iXIDUPOnt ffffiDvlex Dlv 4otMm" Falcon Fed Grain 34 Mil zf leve Elec.l 01. 71 I4b r.r Fraser 100 zCNA Flnan. lno aCoco-Cola Co. 1124 304 304 30V4 ve lOO zColumbla Gas een Distrip GL Paper Greybound BOO zColumbuSlcS.O.Elec, 14' '1 96V. Jt'4 Greyhound rust Tru Guar 344 424 3W0 zComnwith Edison 200 Corttinerttal Corp.

9O0 zConsld.Ed.N.Y. 200 zPhelps DODGE mmm 2 yj zPhH.EIecJ22'a 224 47' 1600 Corrsldtd Packg. 364 36'4 42V4 42 25-4 251 1 24 30' 'J 30' a 294 26'4 29'a 28'a 30 30 1C0. 200 zcont.i.an mmmmmmimm 1 zContnt Co. 30' a 274 2Wa 30 1344 S2 294 20 "a 2H 341-4 19 it J' 334 274 284 14 9 68 WOO Consumers Pwr.

224 154 43'4 22'J 3' 17' 11 31V 60' 4 36 294 20V, 37 21 Vt 32 194 1S 544 34 274 284 If 44) 43 53' 771 1 26' 52' 4 200 ZCPC Intntl. 24 weston AUtHENTICITY CtfiTIFItO BY POSTMASTERS OF AMERICA rtVLIctrrt 00 zyayton pwi WMIMI hse gu can Haker Home A Home Bud Bay Co Oil Gas uron Erie usky OH IAC Ltd StocK Accra Acme Advocate Allied Mnt Am Lamer 200 tf 24' 4 244 20 WhltO a JfV. Wa 434 MINES mm Clot stock 300 zPortlnd Ge.fclec. 800 zub.Serv.lnd. 100 Pnnzoll Untd 1800 zRCA Copr.

200 zRepb.Steel 500 zRevnotds Metal 400 100 zSfeway Str. 500 zSantaFe Ind. 100 zscheley Ind. 300 zcott Paper 500 Scotten.Dillon 100 JzShtl Oil zSmtt KI4V.Fr. zSoCalEditon Co.

.06 i 4300 petrolt Edison 400 zCow ChemlcaJ 5O0 WJQ Corp. tooo Dure Pwr, 33 '4 21 'a 194 16V S6 l'4 334 27i 284 61 44' 53' 19' 3 KerrAtKJ Anecon Postmasttrg of America Medallic First Day Cover lesuad August 2, 1971. Hi. Joseph Smiiii I MyMr 4 20'a 71 7f 21 9T4 16V 78'4 234 scanex Outault 1400 zeastm Air 300 zEastmn Kc akehead 64' 4700 zEI aso Nt.Ga3 Tinn, Fed.Natl.mort. x.

Arm Aral fL 21 17H 91 '4 84 164 U'4 78'4 231 234 48' 481 24 24 a SI" 'A 594 it .30 6 .06 2.30 osu Shore 1 Aor Pftre Lyi 500 zFalrcki.Camilnjt. 100 zFedrtd Dept.btrs 1)1 TOO zFlrestone Tire lOO zFlorkja PwrfcLIgh A COO Lane 1600 jSperry Rend Atlas Yk LL Lac 10700 zMnd Oil I Aunor 4' 24ia 224 66' 3 24 Lost River OH (N.J.I rFMCCoor. 700 zStnd -WICIAl PCiS''MASTrrt OP MfHiCC(MMtMOflAriVf. i8Sfk; Lvtton 70 1o0 47 65' Sno Ford Motor 70 61' 224 zForemost-McKeaa Madeline Madsan 344 34 34'4 1.02 10 iSvntex Copr. al II Frueheuf Coor.

1614 Malartle 27' Bank en Berex fVBIoNemi fttiBIHawk rjiBrel CenP" 700 zTampaElee.ee. 22 36 36 zOAF Coro I 12O0 200 7J 77' IP TOO Genl Electric (innmujiih, 4 2500 zTenaco.lnc. 33' 1 100 lTeGulf Sul. 13 Si. eon tA Gent renda 700 zToledo Edison '4 27' zTraruamerlco vjO zcvenl.Pub.U1ll.

Broul 58' '1 J1 TTf 21'i 44 37'4 28'4 61 35 29' 44 3'4 28'4 Reef 1800 ztent.TL Brunsk 814 29ra, 374 2B'4 lies 1 i'4 TOO rTWA 41 too zvoro. iker 40' 41 114 r4 40' 18 100 'Union Carbldo 200 iGiiierteco. laivjCalmor IB luoztrtooricniB 166 rUniRoval 3i0 United Shir Effective for the full yeir 1972, (he following policies will apply to Issuance of medallic first day covers by ATA 7.nfvtvff4r Tire 6-4 200 zU.S.GvDSUm M'-i 78i 29'4 400 Cem Chlb Mis zU.S.Steel 61 615 41 27' 2A' 77'4 19 19 75' 72 75' 700 fGreet A8.P ramo RL Postmasters of America. 18'a 19 191 19" ttj zGwhovfKl Copr. 20 26 'A 19'4 Tung Uncoor Merrill lb 100 zVlrflElecaVPwr 400 zWarner-Laimbrt 400 zwestn Union 1100 zWverhaeuser TOO 'HA 77priith Rvl 39 45 49'4 36' 44 454 41 '4 9 19 I (ft 110i 110 1 2300 ZGUlf Oil 100 zGulf elates 100 zHOnevwell.lnc.

300 zHotnton LtiPwr. 12000 zHowrd Johnson 6100 fill. Pwr. 41 Tntal fialM 200,620 shares. 44'al 37 33' 33'4 44' 53 zUnllstd Tradlno Prlvllevs.

DESCRIPTION OF THE SERIES A medallic first day cover will be Issued by Postmasters of America for each U.S. commemorative stamp (or stamp combination) issued in 1972 by the U.S. Postal Service. an .53 4.50 225 7,40 t.ii 1.21 09 Van Bar 40 Merchant 35 Martin 78 Mettoml 45 Main Mc Intyre 25 Mentor 05 Mldrlm 50 Mt Wrlaht OTmmi 5 New Cat 22 Neweonx 5 Olmen 06 Kelore 55 Que Ragt Nick Rim if Noble 40 NorbasKt 5 Coldstm Northnat IS RocK Pc Cooer Petlno I' Pc ExD PclK Crow Pine Point ii Plater 2 Proston Pure Sllv. 72, Mattgml Radlore Rayrock VjiZ RIoAlaom Romen Uncle Sam's Anxious Comb Met Conlaoas LI Each medallic first day cover will conform to the Fardv Durham Marben POSTMASTERS OF AMERICA 1972 MEDALLIC FIRST DAY COM St HilCS SUBSCRIPTION APPLICATION Mail to: Postmasters' of America Collector Service Dept.

Franklin Center, Pa. 19063 Picas accept my subscription for the com; i.n set of 1972 POSTMASTERS OF AMbRtCA MEDALLIC FIRST DAY COVERS, I am en-cloning my check or money order, payable1 to Postmaster of America, In ths amount of S05 for the first of tha 1972 issues. Please mall nit all future 1972 issues as they com out, and bill me for each at the original issue price of $1 1.25, plus ules tax if applicable. Mr. Mrs.

silver commemorative medal, the first day cover service, and all shipping and handling costs. ORDER ACCEPTANCE POLICY Postmasters of America medallic first day covers are available by advance subscription only. Subscriptions for individual issues will be accepted, but they must be postmarked at least 20 days prior to the date of each commemorative stamp issue. (These dates will appear on Post Office bulletin boards and in certain philatelic publications.) Collectors who prefer to have each issue mailed to them on an automatic basis may enter a standing subscription for the complete 1972 series. It is anticipated that there will be approximately two issues per month during 1972.

Full-year subscriptions for 1972 will be accepted only if postmarked by Sunday, December 12, 197 1. The total edition of each medallic first day cover will be limited to the exact number of properly postmarked subscriptions accepted. No additional quantities of these medallic first day covers will be produced for future sale, and back issues will thus not be available. To Finance Exports fff i standards and specifications listed below: 22'4 tj a. the cover will contain a specimen of the commemo- ijjj rative stamp, postmarked FIRST DAY OF ISSUE 2 at the officially designated Post Office of first issue, Continued from Page 12B )r Horn )'EIkme 1.10 nison lot run ome EDI0 Rvanr SDierrltt flame Sllvmq Manrck Steep ud Conf Sullivan Sunbrtt Sun rt Tare Donalda Pvnaslv asi Mal ratweil Mar Fort ReMc Proboi Ot M45 Giant Yk Goldray Grandrov Tetx Cof Mis Addtwi City 4jki Statt Zip Eximbank assumes aJl of the risk raised by politics of foreign countries.

The American and the commercial bank assume their shares of the commercial risks. However, insurance is offered on 90 percent of the investment by I CIA, an aoda-tion of 50 U.S. carriers, Together, Exlmbmk and FCIA are working to speed up the process of running credit checks on foreign businessmen. Credit files on 40,000 foreigners are maintained. "This (bank) doesn't cost tiie taxpayer anything," Ulley said.

Fie said tha bank turns out a profit, which is fed into the U.S. Treasury. try Cor enrii eol 10 percent of the deal to the American seller in cash. The foreigner must find private financing, from a participating bank in his country or an American bank, for half the remaining Amount, lie can get the rest from Eximbank. Exlmbank typically takes the longer term notes, and typically takes them at ratpf iower than those offered by C43mmercial banks, a practice copied from export banks in ether countries.

This device lowers the avenge cost of the loan. Exlmbank funds never leave the U.S. 1 Tiey are paid directly Is the American businessman. b. the cover will contain a certified Postmasters of America commemorative medal issued on the same day, c.

the commemorative medal will be a first edition proof struck in solid sterling slim by The Franklin Mint, d. the cover will contain an integral Certificate cf Authenticity attesting to this, and e. the cover will be individually personalized with the name and addrew of ths person to whom It was originally issued, unless otherwise specified by the collector. The original issue price of each medallic first day cover SI 1.23. This includes the stamp or stumps, the sterling onKi III ontlne ormex rlbag rln Cklh yianuue '(rankle Oroon Pnt IHallnor Hlqhmont Holllna If you ttift your rovers ptrsoualistil Ji flu ently from your namt and address as given above, pleiM print the personalisation yo wish, dearly in blox-K litters, on separall piec of paper ami eiiCltM with this order form, Aibest UKene USlscoe Uro Can Vewar Went Mine Whitfield wnlihorse Wllto tonmuim of A mtrkt Itrntrfonltaitonthathu tutu jointly titaNishtd Mt fiallonat Ltout ef Foumasttrs oni ihl Utttonal Association of Foslmasfrt of thi Vnltti Statu, thi two that tettthtr Npmsnt rlrtvclly oil of thi nathn'a 31.000 foiimmnrs.

7A tommmo-WtV mtdali ort prtt hsws of Fostmtsttn efAmttlco ond or mlnttd At Tho Franklin Mint, Iht foremost prhvu mini, which Is not tffiUiltd ltlt lk V.S. Hint or any othtr fonrrmtnml afency. Huftj Bv Hu Pern HV'ha it Inttllalll4 Inl Mosul I so Jollet Jonsmlth Wlllroy mi Wlll-E Eld I.