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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Mar 07, 1966
Page
3
Mutual fund share sales surge to a record pace with February and December topping prior highs. Investment Company Institute reports $507 million in sales in a single month, surpassing the previous $475 million record as funds like the Manhattan Fund see strong public demand.
New York markets open with over the counter bond averages in focus as traders monitor auctions and early price movements. Officials note activity at the NYSE and related trading venues.
The Manhattan Fund plans a continuous offering of its shares starting February 3 during its initial period. February sales totals should include this fund, though it began as a closed end investment, and ICE reports will reflect monthly figures while February totals exclude the ICE reports. The fund will not be included in March share sales until reports are issued.
Pacific Gas and Electric promotes Skinner from Stockton division to manage the large East Bay Division based in Oakland effective March 31. He succeeds Harold F Carr who retires, with a successor to be named. Skinner, a native of Oakland, began in 1992 in PG&E’s gas department in Berkeley and later studied engineering while working nights. He later completed an executive development course at the University of Idaho.
Stockton UPE report notes William E. Zisch urged focus on uncommon talent to counter creeping mediocrity as computers advance. He spoke at a Founders Day convocation at the University of Pacific noting machines turn people into IBM-like holes, while honors were given to Ray D. Howe Alvin M. Weinberg Stephen Bechtel for science and engineering.
A three year agreement was signed by Peterbilt Motors Co and four unions representing 75 percent of the workforce. The pact provides wage increases up to 42 cents an hour over the term plus a half day holiday and improved pension and health benefits. The joint statement credited the deal with sustaining a long-standing positive labor relation. Unions involved are Automotive Machinist Local 1246 Automotive Painters Local 1175 Sheet Metal Workers Local 353 and Teamsters Local 78.
Funeral services are planned Tuesday for Russel Channing Westover creator of Tillie the Toiler He died at Marin General Hospital after a month long illness at 74 in San Rafael California UPI report
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