California Pasadena Independent Newspaper Archives Nov 14 1957, Page 26

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Independent, The (Newspaper) - November 14, 1957, Pasadena, CaliforniaImmert Muht. Thu Hiat. Month Haku. Hit Happy new year rising prices to ease _ Juo us by Sterling f. Been i by that time a two year in Washington. Tab come inflation will have chewed about the year it was suggested Happy new year there Mays i cents out of the buying some further Rise in the con be some Relief from of the consumer s Dollar Sumer Price Index May occur prices. There will be no because of the big Holl in january government i Rollback officials predicted in j Day buying season and the a Price experts said interviews the Oost of living May dip throughout 1958, they be slightly and then into Lieve. Jiving costs May flu a period of comparative Stabil i Luata at or near today s rec Ity i Ord High or Little higher. Dow Jones Cimins do stocks Kisk Vot. Him m.7j 51 wife . Tu.1t trans 1klm 1m.33 new York stocks 0tocu in Ood Tui Carri u of Tiki 144.75 148.m 141.19 145 Abbott l 177ji7i do of Abu vend Between now and the end at us. Ass Floc a Ujj Jar pfc. 11.3m u a Stock act writ 16 13 i Aem. St Addre soc id 1ft to Admiral Locurt Hall l Iii _ _ pm 1.m.i 17 Lukk Jun 21 214 12 12% rival of new car models higher prices. Inflation easing but there Are signs that Sev eral of the underlying inflationary forces Are easing the Washington economists said. These include the Indica Lions of a business slowdown i to Htu 13 41 43h a 3 92 2 j 28ti i 1 42ii a 1z 26 Uli 25i s is a 2 149 10 so s 20 4s i 12h 15--4 1514 7uh 70 j Macb Lart on bets 24 20k 29 20 h or i is i 19 i copy St 18 23 com pm3 31 30% be 47j1 14h h 74 s do of 2 Han get 3 p l 4 Layser j u Eulf Hay Kitra c id Cerr Mcgee to i Iii Airl to 7f do of i lift lies h Crown 60 w a do p x .10 s6w 1c 11 25 so 11 25 Stock Mori gains 32c new York. Ins the Stock Market moved along an irregular path yesterday Start ing lower and recovering in the last hour Only to turn Down again at the final Bell. This left a ragged appear Ance with aircraft generally higher some motors and steels better and others easier. Volume totalled shares As compared with tuesday s the Dow Jones Industrial average dosed 32 cents higher. Rails were off 70 cents and utilities up eight cents. There were issues traded on the Stock Market of which 337 closed higher 552 finished lower and 266 were unchanged. There were no new highs for the year but 129 lows. Many Early losses were wiped out As the gains which replaced them ran from one to two Points at one time bul most of these were shaded Al the Windup. General motors in fact touched a new for the year in the last few minutes of trading closing at defense spending the midday recovery was blow and followed a speech by Commerce secy. Sinclair weeks stressing the need Tor More defense spending. This brought vigorous buy ing into the Ajr crafts for a time. United aircraft which had been Down a fraction Rose better than two Points and held that pretty much until the dose. Boeing and several of the others were up fractions to a Point Chrysler stood out in the motor group with a gain of about a Point. Steels were irregular Al though most of the Early gains were wiped out or Cut to a minimum. Heavy trading in Standard Oil of new Jersey continued to feature transactions. At one time the Stock was up about a half a Point but it failed to hold All of this gain. The american Exchange improved during the midday ses Sion but ran into late profit taking. Bonds were a bit lower except for governments which added Small fractions. In the corporate list oils and utilities were the chief Selling targets and some of these lost As much As two Points. Cotton advanced on unfavourable weather. The grains were mixed. Soybeans were lower. Pacific coast Stock Exchange Salei High corp. 200 Bank inf on .3200 Bishop Oil .700 Bolsa Chica 900 5dig Lorrie orb. 300 general paint 200 Good humor Joo i 40 Hancock Oil a 400 33u Hawaii Pine. Too 8s Holly Dev co 200 pcs inter Oil 200 s l Gordon corp 700 .35 Nam inv is Pacific us Joo Sti i Rice ranch Oil Ltd s5 Al Cir equip 200 Ivest Dpt sir. 100 11u .40 33 .83 71 51 s i s i .35 ,35 s is and hotter Competition for sales a weakening of Sale prices excess till a Ossato. Edit of of Many major household inc goods reduced business invest appointed Eldon j. Bowen will assume his new duties tomorrow As vice president of Prudential savings and loan Assn. Of san Gabriel it was announced yesterday by pres. H. N. Berger. Bow in will act principally As a loan officer. Ment and a probable lessening of demand for credit. On the other hand wage Levels will continue to be tugging upward. Many of the major Union contracts which run for two to four years provide Auto Matic increases of 7 to 8 cents hourly in 1958. This tends to fix a floor for the demands of unions which will be negotiating new con tracts in the steel transportation utilities and other in dustbins. Administration advisers therefore expect average fac tory earnings to keep rising at about the rate of recent years roughly a Penny an hour each month. This will shove Industry s wage costs up but not necessarily As rapidly As in the recent past. If the widely heralded Busi Ness decline actually occurs in the first half of 1958, reductions in working hours Lay offs and the elimination of overtime could partly offset the higher rates of pay. Price Index up the consumer Price Index reached 121.1 per cent of. The 1947-9 average in september after 13 consecutive months of increase. Belh steel Yorior Ain Ota motor. Gen drawn Llyl Sid Oil no Aloma lit Aln nor am can Tutor . Steel poll Lupi ret d. S. Curtla or g sul fuel uhf am Ilarae Ark k Oil isl Lai Gal barium St by am Oil brow co Ucheya up Elmer roessner can All Oil can Marc Canao Al Gas Canso Oil prod Carnation Clary up Cockshut of. Creole Pei cub am Oil cub Ati Suk Belay str Dom c Dorr Oliv dour Oil Dumont Label Bond t s equity up 13 Erie fort 2 Eureka up 26 Fly inc Tiser s font can a. 1.00 a 3 _ Al ref. 1 glad me. 6 Olen Aid 13 of at Ftp lamp time payments one of the Best bits of advice for most retailers Mcdon Jure today is 1. Increase advertising and promotion of install ment sales sharply during the next few months. 2. Use More care in granting credit checking each new applicant carefully. That s not As contradictory As it sounds. If the typical store doubles its rate of rejections it can still add More than 90 of each 100 new applicants. Reasons for building up credit sales now Are these 1. While Christmas shop Ping and the sputnik pay stores Are somewhat higher. However most retailers have met very Little resistance in passing higher costs on to buyers. Another possible reason for Lushing credit sales now is Fiat on the whole the Christ Mas sales increase does not look As promising As it did a Tew months ago when Many merchants were ordering cology Are buying sales Stock. A Little extra some right now there is an under current of weakness. Consumer income is no longer rising rapidly layoffs Are increasing and Confidence is less. An increase in instalment sales will tend to counteract any decline in buying in the months ahead. 2. Instalment Selling can be effective Competition with Dis count houses because few of them offer credit when Confidence wavers Many families prefer to pay regular prices and enjoy the advantages of Ime payments instead of get Ting a lower Price at a Dis count House. In addition instalment purchases tend to link the buyer to the store. Thing May be needed to vent heavy remainders and Ilij Josf a credit May be that something. Capacity to pay off instalment indebtedness. While the out standing consumer still it went credit is up in september to the Rise was Small or nonexistent in some Cate ories. Credit outstanding at department stores and mail order houses on sept. 30 was less than a year earlier. 4. Funds to finance install payments Are still Readi Iii Tlly available although costs to 1114 Mutual funds York. Nov. 3. Fal i Serto of. Per Cunt ifs dealers inc. Inv 1" it Abl til atoll cd Shn am Jim cd cd to atom de Mut Hunt Hon f4 a cd b Elk cd ale Sci f.1 axe twp or 1.13 s.23 3. Is 8.99 1.25 4.19 3. 1.38 4.5s 5.05 .65 3.51 .95 9. ,3 1s.oo 20.00 Automo a Pitlon Firth com St Electron los fully adm Mininc petrol or Bond or Knelp or Slocki bid ask1 .v72 purer 3. 11.01 petrol of 12.05 spinal Trais 6.84 7.50 Minn big cd j.70 9.13lmiiuinv to b m 6.s9 do growth 9.61 10.53 mass Lite Fil 5.90 1 f 7.7s inv cd 5.s1 6.3s hut to b.69 10.fi2 per 2.07 2.29 Natl inv 4.40 nut ser 6 91 7.55 Balan 6.70 Bond 4.33 div there Are three reasons for using More care in Check ing new credit applications 1. Any Campaign for new instalment is sure to attract a greater percentage of poor risks than usual. 2. Credit swindlers usually intensify their operations around the these Are the Gyps who establish credit in As Many stores As possible often with false references and sometimes with borrowed names obtain As much goods As they can then skip town. 3. Impending layoffs in 3. The Public still has a vast Many industries will leave honest instalment buyers unable to meet their obligations. Hark try debits Stock leaders my Don 3f 35ti him of s8% 1 by Par 91 amb a blur am can 31 do of is 3 am Chain 4 am Colony 8 am Cyan 84 Encala 3 am Enka 11h Export 3 22 f p 18 us Lii am o e i 34 in hard 1 Isle Isle Isle am Horn. P 14251 of am in. 13 13. American Stock Exchange sties l los. 5 2 i 69 3 h 3y 37 h 2 he 4 3h 29 40ai 16h 10% 1.00 186 Babbitt Habcock Bald Lima. Bait do of c .20 Ait of 139 do of Barb air Oil Barker by 2 Basic prod 2 Bath in we 3 eat kids 7 a aunt m 2 Index of a lifter c Klaber ii Kawaler Lah. 3eckmn in 21 28 i 27 Seech if 5 Jsu ten l sir 3 29. 28x 29 Lell air 55 17h its 17h left a How 5 38 38 38 Lendu a 15 48 47u 47ti me Abl Iron Micro hone mid St pet moly Den Murray of. Mua Kog mat Bell h Nat pet Nat n id la j n j sine mex at oceanic Oil Kdan up acute 6 of do 1.20 it do it do 4.36 or Pac pet Ltd Pancoast pet Pepperell Phillips so Pioneer pit t Lalu e pret e d Royal Oil 27 9% u 4s3i 2h h Bill i Lesler Ignal of a Singer Mil l 4.88 it 8w Oil by to prod Texas Calgary thew Sobov trans Lui trl cont it unit arc pm Peru .13 i so Cal de 85 Wasatch up 8363a. Webb in 61 74 h 2 4h u i Over the counter preferred a stocks bid Alk Alpha b Mats 14 i 16u Amer a puss 3s 4 Amer to sup 35-i Amer Marietta 29 i 31% Amer p t c 22 24% Carapel corp 3sii Al ten Farma 13h 4.v adz serv arrows if wat 10 i 11-14 Avon prod 33li 4 it irad 29 4 0.96 Lilly w i 5-32 first Boylon c.2 Mart 13" Pendleton tool 14" Cement a i 19h petrol Ane 13 Pha Ostron 34h 14h is a Purl corp 17 i till t l 13 i Republic t Upp 12rochester Tel 16rockwell Jiff 39 Rosemarie. Reid 7 i a Jay Dut it 64 Plum rubber Pomona tile 7 port 12for o Al c 20 4 port Smo steel no Potash co am 26 pub serv nil 14 i Purl corp 17 i bid 13 k Aetna fir. Anna life is Amer eau lab 24 i sum. 3sii Genet St life it 5 Conn owner 2.17 6 cont Assur 56 cont casualty 60 s cd 4h, 9n tire ins new 2s Dornill in co 11 18 56 of ins Falls i5s igl olm pop 15 7 american 26 13hanover Fler 2s 13s firs 116 Horn in 30 23% a ,, 16 Lincoln sat l 165 15u 6 44u 1. 64vi 14.90 1s.11 8.6 7.92 s.61 found cd grow cd inc til ins cd 3h i s it West Man 37 combo St cd 10. ,7 11.71 ins cd comp Bis cd 1.1.m 17.02 inti Rei cd comp cd 13.58 14.74 inv co Amer Concord cd 12.11 13. 1i inv to boat Arnwin i inc 5.64 no cd 12.43 12.56 i5ela inc div Oro St div inv it a Lvii Shrub not slim cd Jonn Milt 9.34 in.21 Philadel s.60 9.41 Price to. Oro 2s 33 v. My Suff Imge cd 10.11 11.08 cd 3.10 cd can 37.76 7.97 am hrs 7.47 sos i cd 11.67 12.79 shop plan Mac Sierra Pac p 214 so Calif hat 14 Sou Nev pow 17 s Youmon Gas 23 i Sprague ene 9 i stat Esplor 11 ser elec Mot 3 Stuart co Al j 1034 t 30 .13100 3im 7.16 2.32 1.16 8.3 6.04 r.11. R.s7 21 156 23 Telov 15.21 s.76 9.57 Tell by com mfr 2ti interstate to set 21 3ss do of inters Mir f Jon Naen Stee 74 r f Teel 1315 i 391.4 Kentucky la tits 23 cot nil found hut cd 6.i5 10.us 11.06 Lucky store i2li 13 North Olvir rep ins 16 70 i a 11 prove Wotli 12 23u 15 Fps Al 3 i a p to 251. 5 sub go Serr bub propane 12 i summon i Telon ranch telecoms us it 2 i Tenn Gas to t.5 t a s the Gas Tran Tex 111 n 0 17% Thomp fib 01 23 three is n 0 4 Thrifty drug time. In. M to mrs mar rur 31 Topp int in trips p 17 j Tucson 2fl i cull no 1000 m. 2% unit Llull no 20 Imah so nil la i Lull apply v c food Varlin Aioo 13 4 i 23h 2314 14 i 23 20 25% 51 4.114 21% 4 i 1 1 "1 15 Bast trn Hani Alk 5? a chem Cornet 42u 4544 no Cal 79l 83 pwn a 393 a Clrk m null tru 65 4 2214 3b Banes Llyl. Ejlif i m Fnnnk i a 11 if., 4 Val n by i m 17 at am in 3 am Mardt 18 am Mam 2 am Metal 3t in met m 2 am molars 1 am motors 29 am n Gas 32 am news 8 optical 1 am Potash 52 Ammart i 223 22% 15h t 1 2 2 10 up 10 de Villm 2 Siam Ait 12 do Gant l Ilia t Mot 4 19s is Sov Lis Osvi v 5 1? dour arc 7s Dover up 3 Dow chem 94 i a 23 draw Rye Dupuy Dupont clo 4of 1 i Watn c4.s 10. In port t 30t leu Val Coal 21 1% do a 1 13% in Vil or Lionti list ind Litton ind 14 Jock air 63 june seem 45 s Cias i d do of Xin Mard la s Louis 5 47h 46 22. 27 323 332 Luj 26 is 11h h i 51 i t 3 38 i 35 4 u 7 no 17j? 17 i if 8 64i Al 29 171 j 189 a 17 1 do s t w 1 Huq it 14 do3.7i.drx so dog c1k 7 14ij 14 i Armit cd 40 21 i 21 do p .10 79 j 79n Art loom 2 4 j 4 27 n or no 5 on so 20 Century ind 2 Pat 31 of Cert teed 5 air 10 22 21sj Chad 00th 6 1-i i i Chain Belt 1 5114 51 in Cham pan 1 31 34 do x 10 s914 sow Champ Oil 69 is Chance vat 30 2914 2s? checker cab 7 5h Chemway 10 s 3 Ches of 41 .13 s 53 Chi e Iii 14h 1351 do or 13 22 Chi it West 6 2s14 2s cd 52 13v, 13 Chi t new 1 " i 13 do of 13 22 21 Cal Nell t 29 Chi if p 2c, 24 Sti Chick col 1 9. Chime con 2n m .11 Chrysler 192 67v. 16 can 25 25u 25 do of 4 .20 m1-, "41 cd Mii m 3d 25-, Cit Finan 17 43 42h cities Soj 38 49s 4ih4 t City invest 2 ii ii 11 ctr Proa 1 36 s 36 s 36% 14 City str 7 Clark eau 11 37h 37si, Clevel Iii 9 33u 331.4 33 u i h do of 1.10 92 911.4 9114 h Slev p .10 34 34 34 Levite u Isle is 1s14 Clemal to 31 5s4 5511 5614 h Duett pea 3 37 t4 37 i 37 h coca cola 2 100% 100 Looi t 27 45s is .10 11, 33 i 301. 2s a 28 47 4i-- m Ujj Aow. 3-1s Gulf Rio of 4 Gulf Oil 43 Gulf staut 10 38 do of .20 s2 m a h i 21 Hall print 2 20 u Iralli Burton 22 Blammo org 1 27 i Harb walk 7 32 i do of .10 128 Harris int 8 173i Harshaw cd 7 hat corp 1 do of .10 haves ind 46 Hecht co 0 Heinz Heller Helme do of 2814 m 45% 78 ii Iii 37 i _s2vi 2044" 12s s7 5915 109u h 38 2 16 23% 201.4 l v i 32 i u 12s 21 i 4 2814 61 p 33 is. Here per 15 35-% do of .70 105 i 105 105 i Tersh Choc 1 50 50 50 Hertz 6 35 35 hew Robins 1 2s 28 i Heyden not 5 la i Hilton hot 12 16% 16% 161j l 18% l. 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Kan c Sou Hiffa inuit chs 33t, 33h 5 35 3- 7 a is 6114 Mil 12 34 Sil 33ii 3d 42% 42% 2 21ll in i 211i 34 u r Tont Ward 44 Morrill 9 motor 7 Motorola r Mueller by 4 4 Murphy 10 7 Natco up a 4 do of x 1.10 pall Flop la Gas a i epic cola 37 petrol up 4 per for b 1 Pfizer 7 Phelps d 3 Phi la Al 42 do of 58 4 5814 20s 20 j 3 2% 11 i 80-- i Ali a 41% i a of x .20 l pref i Phil Reg 36 23 Philco 22 14 Phillip mor 9 40 do of x 8 70 Hlll Van 3 8 do of x .20 95 Phil pet 1ss 36 Phill by mis 2 40 Piper arc 3 13 Pitney 2 so pit coup Etc 3 17 pit conc Oil 15 30 pit fort 2 15 pit Metellu 6 17 pit plate 15 69 pit crab 5 7 pit steel 20 17% pit 2 Pittson co 7 do of 4 plym Oil i 87 4 8714 77 77. 77 i 13% 13% 39% 20 13% 7t4 85 35% 404 i 50v1 v i 30 t 4 151 1 20 i 45 75 plym Oil 4 25 i 25 4 i protom zip 12 214, 21 i i proct g 15 pub go col 4 pub Sven is pub it Gopf .20 pub so ind 7 is in x .10 Publick in 99 pub s p4l 4 Pullman 20 pure Oil 56 Onak Oats 9 93 2 11 49v4 4911 4914 c 3814 3844 38v4 29 28% 79 j 6v4 35 4 s3 i 23 1 234, i 5014 4914 491i 30% 301? 30u i 79 3514 36 65v4 65 6 4. 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On of p f .80140" 140 1jo Utah paid 1ft 23si 23vi 23u u Vanda up r Vert c Suk 40 Vick chem 26 Vietch w 11 Vacaro cd 5 a Elaw 36 do of 1.30 Virg by do of 2 Vulcan mat 3 do or 6 Wiener Al 4 Waldorf by 1 Walf Ireen 2 Walworth 4 Ward Bak 2 Ward ind 32 warn b Pic 2 warn 13 Wash ga.1 4 Wash Watt 4 wave pm 3 Weill to up 2 .80 we3t ind s 4 w by Coal 1 Al Eva pulp 10 West autos 8 15h 1544 15h West Mary 45 54 62vl 111 do 2 a 1 6svi 6s14 6s1? Whit do of .60 White sew 23 Wilcox Oil 6 19 win Dixie 15 Wise Al pm 44 Wise p so 39 Wood in Woolworth Worth Upton j 80 .30 Wrigley 1 Wyan Wor 3 4711 so i 474 4% 24 u 22 781.4 77 77% of h a Glt s or 3 we 20 1 Zenith hurl 3 114s4 114u 14 a Glt Nith Public stenographers do p Reed r hit will l l Imi i .11 a 33 3.1 All 27 i 27 4 11 u 1a h i 7 33 14 6% 33 614 33 mimeograph Inq ditto. Photocopy. Notary Helen l. Scon oem space u n. Mambo Avi. 2-3152

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