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Defiance Crescent News Newspaper Archives Apr 5 1986, Page 3

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Defiance Crescent News (Newspaper) - April 5, 1986, Defiance, Ohio take a Tumble Dow drops 82 Points new York up the Stock Market retreated last week As the Dow Jones Industrial average suffered its biggest percentage loss in More than six years and its sharpest Point loss in history. Analysts said profit taking after the gains of the first Quarter rebounding Oil prices and futures related program Selling battered the Market. For the week the Dow Jones Industrial average lost 82.50 Points toppling the record Point fall of 59.08 in the week that ended oct. 20, 1978. The 82.50-Point drop to 1739 22 reflected a 4.53 percent decline in value the worst loss since the week that ended March 7,1980. The Dow transportation average crumpled at the sight of rising Oil prices. It suffered its largest one Day Point drop Ever Friday falling 21.34 Points. For the week the Index fell 49 Points or 5.92 percent to 779.32. The interest rate sensitive Dow Utility average succumbed to the higher interest rates that resulted when the Specter of rebounding Oil prices prompted Bond investors to Cash in on some of their first Quarter gains produced during the first Quarter. The utilities Index fell 3.13 Points to 186.55. Retreating from last weeks record highs Standard amp poor a 500-Stock Index fell 10.28 to 228.69 and the new York Stock Exchange composite Index dropped 5.40 to 132.29. The Dow industrials posted losses in excess of 25 Points on tuesday thursday and Friday. On monday the barometer gave up three Points on wednesday it Rose five. Barry Berlin of Shearson Lehman equity management said after a Sharp run up in the first Quarter the Market experienced its first significant dose of profit taking for 1986. A Many Money managers Are adjusting their investment portfolios and nailing Down profits a Berlin said. A a it a simply profit taking a nothing More nothing Berlin downplayed the importance of the arbitrage sell programs which this week magnified declines in the same Way that arbitrage buy programs a which Are based on the differences Between Stock Index Cash and futures prices a extended gains when the Market was climbing. Bruaw x. V financial corp. This week 34 commercial shearing this week 14 i Toledo 1 i Trust Campti soup last week 55% this week 52% last week 451 this week 44, a huh e last week 88% this week 80 dinners Ell last week 15 this week 15 Philip Sec last week 24% this week 23% Defiance precision products last week 10% this week 10% Manville last week 8 this week 7% a a a a a Toledo Edison last week 24% this week 25% listings Courtesy of Prescott Ball amp Turbe Naal aids state Economy Appleton wis. A Ohio a Economy benefited by at least $91.1 million in 1985 through expenditures and investments by Aid association for lutherans. Of that amount $13.1 million was life and health insurance and annuity benefits paid to Aal members or their beneficiaries in the state including $4.3 million in surplus and other refunds returned to control dinner set Bryan a the american society for Quality control is having a dinner april 15 at Orchard Hills country club Bryan. Speaker will be John Hejka with the topic a the Cost of Quality in relation to Quality registration for the event begins at 6 30 . The prime rib dinner which costs $10.50, begins at 7 . And Hejka will speak at 8 . Registrations must be made by 4 . April to. Call the Spangler Candy co. At 636-4221 to to change name Toledo a Toledo Trust corp has received Federal Reserve Board approval to acquire 18 offices of first Buckeye Bank National association. In addition the company announced that it wants to change its name. At the corporations annual meeting april to shareholders will vote on simplifying the corporate name from Toledo Trust corp to Trust corp. A the proposed name change is a result of our expansion into markets where the association with Toledo is not significant a said George Haigh chairman president and chief executive tech site of exam Archbold a the accreditation Council for accountancy has selected Northwest technical College in Archbold As a testing site for its nationwide examinations which tests the capabilities of candidates in accountancy and Federal taxation. The six hour examinations Are being administered May 9 from 9 a m. To 4 . To 250 candidates. Applications Are available from Tom Stuckey Dean of instruction at Northwest judged today Bowling Green a members of 20 investment clubs in the Northwestern Ohio area have submitted their club portfolios for judging today of Competition sponsored by the Northwest Buckeye Council of the National association of investors corp. Clubs which have submitted portfolios include the Maumee Valley investment club p a i d., Defiance the Delta investment group Delta the Bryan 1585 club in Bryan and the Wauseon investors. Some travel agents charging customers by Susan Pollack the Detroit news bargain basement air fares Are forcing travel agents in some High Competition markets to charge customers for their services for the first time. The change has been noted in Denver new York and California and appears to be spreading nationwide. In Denver where people express generated air wars Are raging As a result of the deregulation of fares about half of the retail travel agents have begun imposing charges of $5 to $10 on tickets under a certain amount usually about $100, As Well As on ticket exchanges. Joseph Hallissey who owns a Dearborn mich., travel Agency and is chairman of the american society of travel agents Astana Industry Trade association has indicated that service charges May be a coming trend. A a lot of agents Are looking at Basic service charges because of the costs incurred on the special fare tickets and the constant rewriting a Hallissey said. A a we re spending More to produce that product than we can one possibility service charges in the Range of $20 to $50 an hour for people vacation counselling. The fees would be nonrefundable but would serve As a Deposit applicable to a clients trip. Travel agents traditionally have been paid strictly by the travel Industry through commissions on bookings for transportation Tours Complete travel packages and Rooming accommodations. Airline ticket sales a a $50-billion business last year up 25 percent from the year before a generally account for 60 to 90 percent of an Agency a business. An agent customarily gets a to percent commission on tickets for Domestic flights and no More for rewriting tickets once twice or even several times in the airlines most recent round of promotional Price slashing some Detroit to Chi Cago round trip fares started at $113 and dropped first to $98, then to $78. Writing that $78 ticket yielded an agent $7.22 commission no com Mission is paid on tax. According to Industry figures it costs an average size Agency an average of $16.50 to Issue tickets and it takes a $178 ticket just to break even. Anything less represents a loss. An Beiswenger Flint Jane Swabb personnel manager of dinner Bell foods corp., has been named chairman of the food and beverage Section for the 56th All Ohio safety and health Congress and exhibit to be held May 14-16 in the Cincinnati convention Center. Swabb and several other food and beverage experts will present specific aspects and problems relating to safety and health on May 14 at 2 30 p. In the annual safety Congress sponsored by the Industrial commission of Ohio a division of safety and Hygiene features meetings exhibits demonstrations and films. Jeff Batt owner of Batt and Stevens body shop in Jewell recently attended a three Day convention in Columbus. The convention was sponsored by the automotive service Council and featured training Swabb seminars on Auto body work also attending were Batt and Stevens employees Ralph Howard Jim Fifer Dick Bostelman Ray Kelley and Carl Knipp. Mary Jane Flint is the manager of the new Ca to a store which opened this week in the Northtown mall. She was the manager of the Cato store on Clin ton Street in Defiance. Pm unintentionally aids Canadian protectionists Oshawa Ontario up general motors corp. Has unintentionally provided Canadian nationalists and protectionists with More ammunition in their fight against a Freer Trade arrangement Between Canada and the United states. The ammunition came in the form of a $1.5 billion investment earmarked for pm of Canada main Assembly operations in Oshawa about 40 Miles East of Toronto where the automaker plans to gut and revamp its plants for production of the new gm-10 line of mid size cars. Pm will tear apart its two car plants and one truck factory in Oshawa and replace the equipment with highly automated systems to produce the new Model doing away with the traditional Assembly line operation. That will make Gmys operations in Oshawa the largest single automotive Complex in North America after the line is transformed to produce the gm-10, the code name of pm most expensive new Model scheduled to be on the Road in 1988. Opponents of a . Freer Trade agreement were Quick to Point out that current Trade arrangements sufficed in bringing about Gmys announcement of what would amount to the largest single investment Ever in Canada by a private manufacturing firm. They also cited the 1965 . Auto Trade pact As an agreement that works Well for Canada and one that should be hands off in free Trade talks. Many observe opens in mall a store manager Mary Lou Raines looks Over some of the merchandise in the House of cards which is now open in the Northtown mall. The store offers gift items pencils and precious moment collectibles. It also has childrens anniversary and wedding gifts Plush animals mugs. The store will employ five people. Based in Morgantown Vav. Va., the House of cards has 77 stores in seven states. Crescent news photo by Ross Ohio people Are working Columbus Ohio a non farm payroll employment was unchanged in february the Ohio Bureau of employment services announced this week. But the Obes also reported that employment has grown by 3.6 percent or 154,000 jobs since february. The statistics show that virtually All the increase is in no manufacturing industries. Non manufacturing provided 3.34 million jobs in february. Retail Trade employment increased one half of one percent or 4,000 jobs during february and smaller monthly increases were found in services finance insurance and real estate and wholesale Trade. Government employment fell by one half of one percent or 4,000 jobs and construction and mining showed Small decreases. Non manufacturing grew at a Strong 5 percent rate since february 1985, with an increase of 159,-000 jobs. The strongest growth was found in construction up 7.3 percent retail Trade up 6.9 percent and services up 6.8 percent. Since february 1985, manufacturing employment has declined by 5,000 jobs or 0.5 percent. Durable goods industries lost 8.000 jobs while non durable goods grew urges caution about strangers Toledo a Toledo Edison warns residents of Northwest Ohio to be certain that strangers coming to the door Are who they claim to be. Area Law enforcement officials report recent incidents of con men posing As Utility employees entering Homes and robbing residents. The pattern apparently is similar to crimes that have occurred in recent years in which two men said they were from the Edison co. And were there to Check the wiring. Once inside they stole jewelry and other items. In the most recent incident the men disconnected the victims Telephone to delay a Call for help. They also claimed they had an Edison refund for the resident but subsequently used a Short change scheme to take Money from the victim an elderly woman. Jane Beiswenger is the manager of the elder Beerman store in the Northtown mall she is a native of Defiance and is the daughter of or. And mrs. Frank Beiswenger of Defiance. A graduate of Defiance College Beis Avenger formerly worked at Macy a in Toledo. Ers fear the Auto pact which provides duty free Trade for certain commitments in Canada could be sacrificed in negotiations. . Trade ambassador Clayton Yeutter has said that everything including the Auto pact must be on the bargaining table a stance which Many oppose. David Peterson Premier of the Central province of Ontario the heartland of Canadas Auto Industry used the pm announcement in late March As an Opportunity to attack the Federal governments free Trade moves to which he is staunchly opposed. A this investment is in the True spirit of the Auto pact which from Ontario a Point of View is perhaps our most significant Trade agreement a he said. Take tour a Manville Plant 3, Columbus Avenue Defiance is holding an open House this week for customers vendors employees and immediate families to celebrate the opening of a new truck Dock facility. About 250 people were received at the Plant thursday and Friday. Plant 3 employees and families Are to be shown through the Plant on saturday from 1 30-5 30 . Crescent news photo by Bill Parker

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