SYXFL4 PORTER IB Business-Industry Stocks-Auto Friday, Dec. 21, 1962 Page 3, Section MEN ON THE MOVE Airlines Forced To Look Again At 2-Class Fares City Bank Names 7 Officers TODAY IN BUSWESS Savings Rise Sign of Trend -V BY SYLVIA PORTER If you're among the skyrocketing number of air travelers who a few years back, went first class- but who now almost automatically buy coach tickets, you are contributing to one of the top problems of the airlines today: the rapid decline in first-class passenger traffic. The slump started with the introduction of coach service 14 years ago. It has been accelerated by the jets, which have slashed duration of trips and coach "discom Tr BY KEXXETII A. THOMPSON Free Press Financial Writer A gain which in retrospect may become one of the signs that Michigan's economy began its turn-around this year is the $664 million rise in savings shares of the state's 35 savings and loan associations in the first six months.
City National Bank of Detroit promoted seven to assist-' ant cashiers. They were Loren D. Allston, auditor; Robert J. Austin, Norman W. Barkowski, Richard A.
Howard, Bernard C. Osebold, Harold E. Sutcliffe and Carl B. Taylor. Perry Williams, president of the Kelsey-Hayes Co, was named vice chairman of the board.
Vice President Wilfred D. MacDonnell was elected president. Federal Reserve System announced Robert P. Briggs, of Consumers Power had been reappointed chairman of the board of the Federal Re pmium i 'ni'ifnw IHICIUGAN WEATHER added its filip to the grind of testing as Ford Motor Co. racked up its 50 millionth mile of durability driving at its proving ground at Romeo.
The mudhole shown was kept ice-free by passage of cars despite temperatures near zero on recent day when picture was taken. The increase, largest Bix-month gain on the books of the group, was reported by Secretary of State James M. Hare. His department supervises WORLD OF WHEELS forts. As "Aviation Week and Space Technology" pointed out, the difference between a first-class and economy ticket for a New York-London round trip is $414 and "What can an airline offer the trans-Atlantic traveler in two 6-7 hour flights that is worth $414?" There is no question but that those who take frequent business trips have been relentlessly switching from first class to coach and economy class.
There and examines the associations and credit unions, while banks and consumer finance com- Ipanies are under jurisdiction jof the Banking Department. Miss Porter Its first accomplishment has been the sifting out of civilian applications for space research and these findings will be offered to Midwest firms at a meeting Jan. 10 at the center. Examples of the application-have been mailed tr 200 firms in Indiana and surrounding states. The center says they should interest companies in the pharmaceutical, metal fabrication, fiberglass, furniture, welding and woodworking fields.
The center's work parallels one of the objectives in the "teamwork" proposal which has been addressed to Michigan industry by Conduct ron of Ann Arbor. Test Add Drivers a Record THE RISE in savings goes hand in hand with a substantial Increase In time sav ings in banks in the first half. The bank total for the state has not yet serve Bank of Chicago and James H. Hilton, of Iowa State University, was renamed a director of the bank. Briggs reappointed C.
Lindoln Lander-holm, president of Central Bank of Grand Rapids, a director of the Detroit branch. Upjohn Co. named Gerard Thomas, corporate secretary, as general counsel, succeeding Leslie Harrop, retired. Harold S. DeOrlow resigned from Manufacturers National Bank to become senior vice president of Genesee Merchants Raymond H.
Wetherby, for BY FRED OLMSTED Free Press Automotive Writer An automotive proving ground is a fascinating place, even though the real test of a car inevitably waits the day- but the in- V- ft to-day punishment administered by legions of drivers from Savannah to Seattle. strong salt concentrations The torture can take on add $100 million for Detroit's five major banks. ed thrust with tough weather even as Detroit streets. Last January the proving ground and drivers to match. This hap Hare reported Thnmrmon roads got 967 tons of salt.
pens on driveway and highway Woodall Promotes President that total shares stood at and proving grounds, too. $650 million on June 30 and It happened the) other day More than 400 vehicles have been "proved" at Romeo this year alone. (The trucks have a special "Korean Car when Ford was preparing some that share members totaled 294,343 persons. Total assets of the 35 associations pushed up merly general manager of Russell Industrial, has Joined Hubbard Associate, industrial and commercial real estate firm, as an associate. a Co.
CM photographs in observance of the 50 million miles of testing it has inflicted on cars at its speeds have ranged up to 182 miles an hour. 577 million to an all-time high point of $734 million. NOTE: The accident rate for Michigan Proving Ground near ueiroit DanKs ana savings the United States in one per Romeo since it was opened in 1956. 000 miles of driving, at the THE PICTURES were made Herbert J. Woodall, founder and president of Woodall Industries, was named board chairman, a new post, and chief executive officer of the 45-year-old automotive materials firm.
His son-in-law, Walter D. Willey, 44. manager of the company's Monroe plant for 17 when cars were navigating mud and water holes against a back Wetherby named Frank C. Murray special adviser to the president, Robert B. Jacob.
Hoover Ball Bearing Co. elected Robert C. Ressler president, James Carman and Joseph T. Miller, vice presidents of the Bearing Division; ground of snow and with temperatures near zero. Of course ana loan associations report that the pace of the increase in sayings by Detroit -area residents has continued through the second half.
Such savings in the past have accompanied upturns in the local and state economy. Research Seeks Aid for Deep Mines With its announcement of the January suspension of work the same weath- Tr years, was named president. News Oft The Ticker National department store Bale3 rose 3 per cent last week over a year ago, the Federal Reserv Board said Chrysler was awarded a $4.2 million contract for 1,161 school buses by Army Tank Automotive Center General Tire Rubber will acquire an interest in the CIS polybutadience synthetic rubber plant at Borger, owned by Phillips Chemical Co. A New York Stock Exchange seat was sold for $185,000, up $15,000 from the last sale Chromalloy Corp. acquired General Radiator, Inc.
Howe Sound declared a 10-cent dividend, its first in cash since 1957 Manufacturers have more than $50 billion extended in accounts receivable, perhaps the most ever, National Association of Credit Management said. It added that "almost 18 cents of every dollar owed to manufacturers was past due as of October 1962" New York Stock Exchange suspended Michael M. Rosenberg, partner in Auerbach, Fol-lak Chardson, for "wilful violation" of Federal securities laws British industrial production, which hit a new peak in September, fell three points in October for the biggest monthly drop in five years Dun Bradstreet reported commercial and industrial failures fell to 252 in the week ended Dec. 13 Bank clearings in 26 cities reached a new high for the yefr of $36.4 billion in the week ended Wednesday Drewerys Limited U.S.A., elected David W. Stotter, formerly with a Chicago advertising agency, as president White Motor bought substantially all of Mo tec Industries' stock and assets for about $21 million cash International Research Consultants, Detroit, opened expanded European offices in Geneva.
er was battering average mo William K. Meister president, torist. is no question but that there has been an ever-increasing crowding in coach facilities while the most expensive sections are half empty or worse. To' counter this trend, William A. Patterson, president of United Air Lines, is now pushing a plan that would eliminate all first-class and coach fares and substitute a new, all one-class service, somewhat improved over today's coaches.
Here, from Patterson, is an explanation of his plan and its meaning to you. Fares Would Be Median Porter: How would an air traveler benefit from your proposed one-class air service Patterson: When we first ordered jets, we expected that the 105 seats would be divided 40 per cent first class, 60 per cent coach. Instead, oar jets run about 80 per cent coach, 20 per cent first class. We are crowding 120 or more passengers Into double rows of three seats in the coach section, separated by a narrow aisle. In the very near future, we will file application with the Civil Aeronautics Board to try out single fares on one of our routes (probably Chicago-San Francisco or Los Angeles) at substantially less than first-class prices and only slightly higher than present coach fares.
This plan would go into effect in early spring. In the new planes we will begin receiving in late 1963 the seating will be arranged for one-class service, two seats on one side and three on the' other side of a much wider aisle. Comfort Improved Seats will be larger than the present coach seats, although not as roomy as those currently in first class. This will vastly improve passenger comfort and safety. Those accustomed to a good dinner and other amenities of first-class travel will lack nothing.
You've always been able to get better dinners at a fine restaurant than on airplanes. Porter: What would be the industry wide implications of returning to an all one-class fare system Patterson: In Unlted's case, this could reduce our annual operating expense by $4.7 million. We would save about $3.3 million a year on food costs and beverages alone. Other airlines would be able to save on a similar scale. Porter: What i3 basically wrong with the present system? Patterson: Simply that trying to build air traffic by all manner of pricing gimmicks hasn't worked.
Our experience shows that a 50 per cent reduction in fares will increase traffic volume by only 3 per cent We'd have to increase our volume by 30 per cent or more to offset a 25 per cent reduction in some coach fares. Just to keep up with the fishing expeditions of others, United now offers more than 20 types of fares, and we're just one airline. It's time for the airlines to stop befuddling the public multi-fares and multi-classes of service. Frank D. Brittain executive vice president and Joseph Sulli The main dif OTHER XEW officers include Wesley R.
Johnson, formerly with Illinois Tool Works, Chicago, executive vice president, and George Roberts, sec-rectary-treasurer. Johnson succeeds C. Bayard proving ground one per 600,000 miles the equivalent to an average driver of one in 60 years of driving. Chrysler Outpiit For Day Best in Years Chrysler Corp. turned out 5,372 cars and trucks in United States and Canadian plants Wednesday, highest total for any day since Sept.
23, Since 1963 models were introduced, second shifts have been added at Plymouth and Dodge plants in Detroit. This week's car production by the industry will total 164,653, Automotive News estimated Thursday. Except for Thanksgiving week, output has topped 160,000 for each week since the van, vice president or me Dis-Casting Divisions; Carl ference between the mass of motorists and the 200 drivers Ford employs at Romeo is Bowman president and Harry E. Smith vice president-sales of Johnson, no relation, who has the Hoover Ball Division; retired, and Roberts succeeds James Veras president of Cuyahoga Steel Wire Division. M.
E. Griffin, also retired. Both C. B. Johnson and Griffin con Olmsted of hammering that the latter make a career Dura Corp.
named Donald The public does it without cars. Sherman assistant general special effort and applies the tinue as directors. Woodall reported excellent operations in the quarter ended Nov. 30. at Upper Peninsula underground iron ore mines, Cleveland-Cliffs Iron Co.
gave the first indication that a research break-through is being diligently sought so that underground ore mines can be returned to operation. The firm said the objective is to make deep-mined ore competitive with pelletized ore from surface mines and foreign ores. The mines being temporarily closed are the Cliffs Shaft and the Mather, owned jointly with Bethlehem Steel. Cleveland- manager of the Detroit Divi sion. acid test by reason of its superior numbers and vast multi Chrysler International SA.
plicity of conditions. named Robert Mitchell vice week ended Oct. 20, twice hit The Romeo Ford drivers log Trend of Staple Prices Dresident and C. W. Hester ting above 170,000.
Combined car and truck pro 45,000 miles a day over the 44 miles of various kinds of roads. NEW YORK (API Th Attnrl.t.4 Press weighted wholfMle onc ind- of duction for the year will pass 3 commortiti-s 0clin-d fo 161.41 Thurv The public drives something duv. W-dnesdav 161.50. wk qo 16196. secretary.
Bank St Trust Flint. Fred H. Oliver, formerly manager of the Grand Rapids month ago 161.25. vr go 164 30. over two billion miles a day 1962 191 1960 19W over all kinds of roads.
-1 is in i nm Hiqgg 71 i 7. 16i 9J and Detroit Of course, the Ford drivers (1976 averao eauals 100). 1 1 1 was and others of their llX have a inventory at the mines and that steel companies continue to favor higher-grade foreign ores. named deputy special knowledge. They are able to ferret out and correct many SCRAP STEEL NEW cra steel No.
1 h-avv was auoted Thursday by Iron Age at 25 00 00. k5 things which might otherwise become a trouble to the motor ist on the road. Space Jobs Offered AND, IN fact, the test drivers' Firms in Midwest United States manager of the Zurich Insur-a and executive vice president of the Amu i a Guarantee and Liability Insurance Co. Dry Cleaning Institute elected the 8,000,000 mark Saturday. Chrysler Training Is 15 Years Old More than 275,000 mechanics and technicians have been aided in Chrysler's Master Tech (Master Technicians Service Conference) program, which is observing its 15th anniversary.
Master Tech is described as the industry's largest single continuous training program. Nearly 26,000 currently are enrolled. Through the years they have been enlisted from corporation dealerships throughout the United States and from 74 foreign lands. Says George J. Cutler, director of automotive service: "No program we have sponsored has pursuits are more intensive.
An indication that the na tion's space program may be Few ordinary drivers, for example, roughride anything like the Oliver Oklahoma Road," a mud-dust- a rertile field for commercial and industrial applications and new products comes from Indi Promnant Detroit Moaafoctiirar Automotive Jtompiags Seats CHIEF ENGINEER to kaotf angfiteertaf daportmeat Requires E. Degree, sound knowledge of automotive stampings, presetting, quotas, tools. Aga 30 to 40. Salary to $12,000. SATTLEY AFFILIATES INC.
WO 2-6000 2M0) Nsrtw. St. Clair Skem. Mirk. pothole tour such as you might and Laundry David E.
Mc- encounter on the oilfields. Eight ana University. thousand miles of this is equiva The school has established an aerospace center with the as lent to 80,000 miles of normal driving. Carron, of Mondry Cleaners, as president; Tom Munson vice president; Paul Russo treasurer and Jack Ellstein secretary. Wayne Federal Savings and sistance of a $150,000 grant from the National Aeronautics and Space Administration.
Bank Stocks Bid Asked An.Dlv. "The run Is so tough," said G. F. Doyle, proving ground manager, "that have to bolt boiler plate to the bottom of the cars. There are all kinds of rugged Loan Association named Mrs.
Anna Hart and Dale Minick assistant secretaries. done more to improve quality of ifri. M.tlMi.l Rank 34 2 37 48 4 4 Bk cmwitn iNewi Det. dk. irusr co.
SI. IX) 1.76 2 20 2 00 2 00 1.00 workmanship, Increase service, stimulate new car sales and build loyalty and good will." 57 56 4 65 40 54 S3 62 37 4 11 A Dr. Clyde T. Hardwick, of the University of Detroit DAILY INVESTOR investment Firms lilso Sell at Premium BY WILLIAM A. DOYLE have frequently read of the advantage of buying shares of a elosed-end investment company at a discount to have more capital working for you than you pay for.
But why would anyone buy shares of such a company at a premium? For Instance, Madison Fund was recently Nat. Bk. of Detroit Mich. Nat. Bank 13.4 items added in proving ground testing.
Like a water bath with (Comoi ed from sources me rreo rres Institute for Business Services, was named associate editor of considers reliable.) Treasury Bonds NEW YORK (AP)-Closln over the Journal of Purchasing. run-Che Potato Chips, division of Sunshine Biscuits Investment Companies counter u.i. government i reasury bonds, bid, asked, net chano and yield for TheWallStreetJournal has constantly cioneered Bid Asked 1 2.89 2.94 3.17 ictu vnoie API Bid Asked Bid Asked Price TR 14 04 14.18 NE B4 Cut Grth 9 68 10.58 Fed National Associa- Kl Fir) Cap tlon named Earl Curry director of sales, Edward Calmeyn director of merchandising, Norbert Gamble as director of production and Harold Volsky director quoted at a premium of aooui 7.58 3 24 14.47 15.66 Bad Checks Twice a week on Tuesdays and Fridays the Free Press prints a list of bad checks which may be presented shopkeepers, bar owners and other businessmen for cashing. The list, from the Detroit Police Department, covers checks which are drawn on fictitious companies, and blank checks which later probably will appear in fraudulent forms. STOLEN INTER CITY MANUFACTURING 2697 E.
Grand Boul-vard, ye'low colored, Nos. 'MO through 7495, drawn on National Bank ot Drtroit. CB S. PLUMBING, 1710? McNIchols. pink colored, all numbers, drawn on National Bank of D-troit.
T. MORROCCO CONSTRUCTION 13809 E. Ten Mile, Warren, yellow colored, Nos. 6739 through 6789, drawn on National Bank of Detroit, Gratiot-B-lvidere branch. Providnt 3 81 4.16 Puritan 7.73 8.36 Putnam 14.39 15.64 Cus Cus Cus Fid Fund becunnes Bid Asked i nursaay: 63 99.22 99.24 3s 64 100 100.2 2ta 65 98.24 98 21 3s 66 J01.3 101.5 3s 66 7991 99.3 3Hs 66 99.31 100.1 2''3s 67-62 96.14 96.18 3s 67 100.21 100.23 3''ss 68 101.21 101.23 33'4S 68 100 31 101.1 Afi-AI CA 1A 01 Itl ers K2 SI S2 Fid Trend 11.77 12.79 15 per cent.
Put Grth 7.98 8 67 3.39 3 27 3.36 3.34 347 353 3.55 Fid Mut 17.43 ld.B4 9.31 10.16 8 62 9.42 4.80 5.24 20.22 22.06 11.57 12.63 12 96 14.50 3.88 4.25 13.57 14.68 5 68 6 23 5.49 6.01 cus Cus Aberdeen 2.04 2.23 Ouar Dist 6 54 7.15 if .3 .3 .3 S3 3 94 4 31 Ad ise t-a 4 Cus 6 65 1.06 publishing methods. In its brand new plant in Riverside, for example, it is using facsimile, making it possible for executives Fd Affi Resch inv 9.99 10.92 Revere 9.50 10.33 Scud Can 13 07 13.07 Int 603 7.36 3 64 17 Kevs A There's a relatively simple reason for the market price of any stock. It's the Am 4.15 81 1 5 42 5.93 1 87 2 04 5.52 6 CO 9 76 10 67 2 JO 2 53 of the Cleveland division and operations adviser. Pont named Lawrence Du- KniCKerD Knick Gth Bus Grth Inv Am 18.03 18.03 4s 69 Feb 102 4 bcuo sc. 3.45 3 61 3.59 1354 13.14 Am Scud Stk 14 37 15.25 Fla 6th Fla Mut Fnd Mut Foursa Fnk Bnd Fnk Com Fnk Pf Fnk Ut Fund Am Fund Inv Lexinqt 1065 11.64 Selec Am 2-25 2 25 93.24 ,5 1 Oct 101.30 102 2 10 .55 11.53 2' 69-64 Dec 93 4 93.8 3 6 5 79 Asso Fd Atom Ph 1 37 2 66 pree assistant organization and .2 everywhere in the West Axe Life Inv 16.19 17.6 snrnKJ Life Stk 11 29 1 2 30; Shr! i Am Loom SCa 27.89 27 89; Smith Ed 12 90 14.07 2' JS 70-65 .92.24 92 30 2 42 7 12 7.21 A HMk 7.C4 Am 5S i 2' 3S 71-64 91 26 91.30 7.68 8 30 Us 71 101.16 101.20 Sw Inves 9.13 10 01 Axe Axe to get their only national business daily on date 1 44 1.58 4 37 4.77 5 02 5 46 813 8 64 3.44 3 76 10.46 11.37 9 25 10.il 11.22 12.26 9.21 10 07 12.74 13 77 Unavailab A OA A ft.
Scien TpmB 3'S 71 100. It Gen Inves 6.46 7.02 100.22 .2 101.10 Axe CDOUP SEC 3 6u 3 62 3 64 3.77 3.78 3 83 3.71 3.73 3.69 3.84 3.94 4s 72 Peo 101.6 Blue Rid 72-67 Jun ...90.10 2'js 90.14 of issue. price buyers are willing to pay, and seii-erre accept at-ny given It is possible to buy shares of most closed- -2 .2 Bost ra Broad St Bullrv-lf 2Vis 2Vjs 37s 72-7 Seo ...89.30 72-47 Dec ..90 2 74 100.4 85-7J 104.4 4'4S MOTOR CITY ORNAMENTAL IRON 1559 17.04 analysis manager. Dodge named Joseph ECam-peau national used-vehicle manager. Wheel Truelng Co.
named Herbert Ovshinsky head of research and development. Abrams Instrument Corp. named Grant Michael sales manager. Packaging Corp. of America named T.
J. Jack, of Grand Calif Fd Can Gen Cdn Fd Cdn IGth Capit Shr 3.90 3.86 3 85 90.Z 90.6 100.12 104.12 101.8 95.12 91.20 91.20 104 1 93.14 89.4 4.4 .4 WORKS, 6373 E. Nevada, ngnr green colored. Nos. 2191 through 2260, drawn on Puhllr Bank.
Loom Sav 14 36 14.36 MANAO FUND: Elect 2 32 2.54 Gen Ind 3.22 3 52 Metal 1.76 1.92 Paper 2 83 3.06 Petrol 2.36 2.58 Specl 2.79 3.05 Trans 2.74 2 99 Mass Tr 13.55 14.81 Mass Gth 7.34 8.02 Mass Life 21.75 23,77 Med Sc Unavailab MIF Fd 13.77 14.88 MIF Gth 391 4.23 Mort Gth 5.98 6.55 Mort Ins 7.78 8.53 Mut Inves 8 93 9.80 Mut Shrs 13.63 13.63 Mut Trust 2.61 66 Nat WSec Unavailab Nat Inves 13.80 14.92 4s 80 101.4 3'jS 80 95.4 3'4s 83-71 91.12 3'4S 85 91.12 4'4s 92-87 104 3' rt 90 98 3s 95 88 28 3 81 4.01 MAGNUSON FOOD PRODUCTS, 3960 Chase Fd Sover Inv 13.22 14.48 State St 37.25 40.00 Stein RF 35 68 35.68 Stein Stk 28.86 28.86 Sterl Inv 11.31 12.23 Telev El 6.97 7.66 Texas Fd 10.91 11.92 TwenC Gth 3.55 3.88 UBS Fd 9 35 9.95 UNITED FUNDS: Accu 12.97 14.17 Cont 6.34 6.93 Incom 11.23 12.27 Intl 9.95 10.91 Scien 6.17 6.74 UnF, Cn 16 99 18 47 Val Line 5 80 6.34 Val Line 4.93 5.39 Val LSpl 2.73 2.98 WallSt In 8 62 9.421 Wash Mut 9.71 10.61 Well 12.74 13.85 Well Fd 13.75 14.99 Whitehll 12 68 13.71 Winfield 6 82 7 45 This Is the first facsimile newspaper to 3 89 Third, Bra colored, Nos. 926 through 950, drawn on Manufacturers National Bank. 3 57 inem i-a Colon Fd TAlnn Cr Av8.EI 6 69 7.34 Cap Gr 4.96 5.45 Com St 11.83 12.95 Ful Ad 8 80 9.64 Gen Bd 6.685 7.41 Petrol 11.61 T2. 71 Grth Ind 17.07 17.58 Guardn 20.01 20 01 Ham hc7 4.76 5.21 Ham hda 4.67 Haydock 25.71 25.71 Imp Cap 7 23 7.85 Imp Fd 5.91 6.42 Inc Fnd 2 29 2.51 Inc Bost 7.57 8.27 Incorp Inc 9.01 9.85 Incorp Inv 6.75 7.38 INSTIT SHRS: Found 11.11 12.15 Grwth 9 55 10.45 Income 6 45 7.07 Int Resour 4.24 4.63 Inv CoAm 9 44 10.37 Inves Bos 10.65 11.64 92.20 3 "75 98 92 1 7 course, is an open-end Investment company. Madison (which has Its headquarters on New York City's Madison Avenue) is a closed-end investment company.
That tabulation shows that, as of Nov. 30, the asset value behind each share of Madison Fund amounted to $17.87. On that day, the closing quotation on Madison Fund shares on the New York Stock Exchange was 22 $22.50 a share. If you are handy with figures, you will see that anyone who bought Madison Fund shares paid a fat 26 per cent premium. That's even more than you mention.
Actually, Madison Fund shares have been trading at premiums of from 15 to 30 per cent for more than a year. The reason is simply the popularity of this stock. And, based on the past record of the company and the market performance of the stock, it seems to deserve that popularity. ce regularly, com CARPET PAIR, 20027 W. Seven Mile.
Prices quoted in dollars and thirty Cwth Inc Unavallac 10.39 11.03 9.79 10.73 12.98 14.19 6.11 6 68 10.23 11.12 10.53 1151 11.45 12.51 9.09 9.53 9.6210.51 9.46 10.34 14 97 16 3t 9.07 9 86 7.98 8.6 11.44 12 37 17.50 19. OC 6.42 7K 17.99 19.68 seconds. mercially printed in we united states. pink colored, Nos. 15B6 mrougn iaj, drawn on Manufacturers National Bank, Eidhf Mile-Lahser branch.
FICTITIOUS torn mi Eom Inv om Stk rnmfl Rd Rapids, vice president-industrial ADVANCE BLUE PRINT REPRODUC Como Fd relations. Huck Manufacturing named Edward Van Buren sales pro NONFERROUS METAL NEW YORK (AP) Soot nonferrou metal prices Thursday: ooor 31 cents a pound, Connecticut Valley. Lead 10 cents a oound, New York. Zinc 11' cents a pound. East St.
Louis. Tin 1.121 a pound. New York. Foreign silver 1.19'A per trov ounce. New York.
NAT SEC SER: Balan 11.07 12.10 Bond 5.64 6.16 nivirt 3 59 3.92 for tr fcooWef dttenbSng Th Wall Strt Journal's facsimfla pro. ef, wrffe F. X. Timmont, The Wot? Srraaf Journat, 44 Broad Y. 4, Concord Cons Inv Cont Grth rnrn 1 TION 8235 John Lodge, payroll account, light blue, Nos.
2255 and up, drawn on Detroit Bank and Trust Fisher Building branch. Counterfeit checks are drawn on a true company. Wiscon 6.53 7.06 motion manajrer. 6.27 6 86 Crown r4aVanH In 1A 1A 16 rA fur. Quotations INVEST RP bv National nished Mut Unavailab Unavailab Association of Secu deVeah 55 38 55 94 Dela Fd 10.36 11.S2 Dela Inc 9.61 10.50 Unavailab end Invest- Doyle conpanies at discounts at prices below the asset value behind each share.
Some sell at premiums at prices above the asset value behind each share. A recent tabulation of 32 closed-end investment companies shows that, as of Nov. 30, the shares of 23 were quoted at discounts; eight were at premiums; one was quoted exactly at asset value. The biggest premium was on Madison Fund. Don't be confused by the "Fund" in its name.
It's not a mutual fund. A mutual fund, of Stock Select Var PV Pf Stk 6 94 7 58 Incom 5.48 5.99 Stock 7.41 8.10 Grwth 7.63 8.34 New Enq 11.30 12.22 New Hor 8.91 9.00 NY Caoit 14.39 14.39 NCE Sh 11.5312.60 One WmS 12.09 13.21 Oooen Fd 13.59 14.85 Penn Sq 13 48 1 3.48 Pennies 7.17 7.86 Unavailab Diver far Diver Innv 8.62 9 45 Unavailab Int Con uivia $nr unavaiiao A 7ft PA Inv Resch 10.90 12.00 Istef Fd 33 34 34.01 Johnstn 12.45 12.45 DowTh In Dreyfus rities Dealers, which states they do not necessarily reflect actual transactions or firm bids or offers but sftould Indicate aooroximate prices, and unless otherwise indicated are as Quoted bv the sponsors or issuers. KFYUONE: 15.41 16.75 11.79 12.7 12 58 13 5V Unavailab 10 39 19 39 Phil Fd 10.35 11.34 Cus Bl 24.88 25.97 rm R2 22.30 AA J3 faton Bal a ton Stk Elec Inv Enerov Eauitv Pine St 11.05 11.16 Pioneer 8.58 9.38 Cus B3 15.61 17.04 8.15 8 45 PROCESS MAN THE PRICE OF A PHONE CALL for a prominent Detroit manufac turer ot automotive stampings. Age 25 to 35. Some college.
Must To the Holders of THE DETROIT EDISON COMPANY 3Va Convertible Debentures, Due February 1, 1969 Notice is hereby giren that 2-for-l split of the Common Stock of the Company, from $20 to $10 per share, became effectiTe December 21, 1962. Therefore, after December 21, 19G2 (and nntil farther adjustment for any future event), the conversion price of the 34g Convertible Debentures, doe February 1, 1969, shall be correspondingly adjusted to $12.50 per share. THE DETROIT EDISON COMPANY A. G. Maihofer Secretary To the Holders of THE DETROIT EDISON COMPANY 3 Convertible Debentures, Due September 14, 1971 Notice is hereby given that a 2-for-l split of the Common Stock of the Company, from $20 to $10 per share, became effective December 21, Therefore, after December 21, 1962 (and until further adjustment for any future event), the conversion price of the 3 Convertible Debentures, due September 14, 1971, shall be correspondingly adjusted to $15.3845 per share, resulting in a ratio of 6J shares per $100 principal amount of Debentures.
THE DETROIT EDISON COMPANY A. G. Maihofer Secretary may prow mohey savar to you whaaj buying your next Ford have stamping experience, tool DOCTOR Excellent Building Sit for Professional Offices in fast d-valoping Allan Park area. fNINEMsLEj T-Bird Falcon er -Ford Truck. W00DALL INDUSTRIES INC.
Resumes Payment of Dividend At a meeting of th Directors of Wood a II Industries Inc. held today in Detroit a quarterly dividend of 30c per share on the Common Stock was declared payable January 15, 1963, to stockholders of record January 2, 1963. M. I. SrrMln.
Secretory-Treasurer Sack and die and processing. Salary commensurate with ability. SATTLEY AFFILIATES, INC. 26803 Harper St. Clair Shorts, Mich.
WO 2-6000 5 15,000 Paquette Real Estate WA 8-7260 20619 Ecorse Rd. Taylor, Mich..
