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Show i r f ii ii mi 1 111 wLUiwuiyii! inomiimriif ii 26' .. .. 4H v, 29', 21H 16' 4 Quotes Transm TriCon Trinova J NEW YORK noon New York Stock 's Exclmnge selected prices: Stock Last Chg AMR Albtsn s Alcan 41V, 32 AldSnl 29- Alcoa Amax AmHes ACyan 67' AElPw AHome s 25', 55li 45 60-- 63i '- H"i -- n 1 " 30' H li 584 38 6 140 Vi t. Vi 20'183'i 4514 52 44 Vi l4 BrMySq 571 BritPt BurlNth 814- -1 8' 'a 28- 4- v, CascNG CasllCk 31V-- 1 CocaCl s ColgP ColGas h v 16', v v 42v, 2fi' 77 ' t 254 H 104.. .. v 38 59- 4- 4 v, Comsat 294 V, ConEd Contel 21l4 30' ', OData 10 30 DanaCp Dcers Digital Disney 28V4 - 49H 894 l5i 34L4 Vt 5U t FMC 34- 4- 4 FIntste FordM FrptMc GTE s Gannett GenCrp 254 Goodyr Grace GreyhD 41' 4 46L4 v, 33- 4- 14 364 V, 25 4 324 lv 26' 5641 83- p Indet S&PIndex 4 324 v, 78 v, 414 4 75- 4- 4 s MonPw s NCR 18' 5744 13- 4- ' Nil 4,. NfTkSo v, 364 ' v, 18- 4- v 224 Vi 264 v, '- 4 3716' 15 70i. 4 Nortrp Norwst Nynex OccPet 4 " 214 Ou'tbdM 12 372034 v, 244 54 4 9 Xerox ZenithE . 37 Avnet AT&T 23V 4 284.. .. 5'- v, 15 31- 20' 73! '- 4 V4 29v. 25 Vs 28 108vB 107'b 25v 2ve 124 12 v, Ski: - 68 25 Lch 21 -4 -- 74 4 4 '- Tektrnx 13' TeS,8 SiT Texaco 6441 27 - Ann-Louis- 11.93 11.93 13.55 13.55 16.18 16.18 Equity Growth Intl. Equity Intermdt Govt Tax Exempt High Inc. Bond 11.10 11.10 16.59 16.59 10.06 10.06 SHEARSON GROUP Ask Bid 15.94 16.78 Growth Appreciation Fndmntl Value Global Managed Govt West Texas 8.69 5.89 24.48 25.77 8.26 5.60 Intermediate $40 12.55 12.69 13.36 14.66 15.43 15.56 16.38 11.92 High Yield Managed Muni Precious Metals Sept. v. V" 34 2l- 4- 20O 30 Provided to The Daily Herald By Shearson Lehman Hutton An American Express Company 20 M9MINAL QUOTES Iraq 164 Invades Asked Bid Kuwait ll-- 207. 2034 American Consolidated 10 27 Centurion 10v8 267e v. v, 534 294 294 54 27 ATNN Vines Crested Corp. Crown Energy EFlCorp. Environmental Serv. Four Nine's Galtech 27 Grand Valley Gas (new) Guild Mark Bid .17 .20 1.18 1.25 .69 .72 .81 1.00 10 n .13 .17 3.06 3.25 1.56 1.69 .0025 .0050 m 6 .01 .025 1.31 1.44 3.18 3.25 .07 .12 234 234 26'e Sage Analytics Valley Nat Corp Wicat 1 10 3 n 11 H ' 17 10 Sept. tujcs 2434 10 3 25 27 Source: Bloomberg Financial Markets 15 1 zions First Nat'l. 20 31 1415V4 44 13 Aug. Ask First Security Price per barrel, oil for October delivery, traded on the N. Y. Mercantile Exchange .10 Golden Age Gold Standard 22h tling for the day at $34.71 a barrel, up $1.53 over the Wednesday settlement price. Volume was light as a number of traders observed Rosh Hashana, the Jewish new year. Oil's latest surge was partly attributed to refining problems, a chilly fall weather forecast and a oil if war prediction of breaks out in the Mideast. The dramatic rise was also explained by the internal dynamics of the futures market, where speculators buy and sell contracts for oil delivery that are based on their estimates of what will happen to supply and demand. Some traders had previously gambled that prices would go down. They agreed to sell October contracts that they did not have, thinking they would be able to get the oil cheaper at a later date. But prices hit record highs this week, and Thursday was the last trading day for October futures, so the speculators who were caught short were forced to buy the contracts at steep prices. "You call that a squeeze," said Ed Kevelson, a trader with Dean Witter Reynolds Inc. Traders were also responding Thursday to a report that a former Saudi Arabian oil minister, Sheik Ahmed Zaki Yamani, predicted oil prices could shoot to $60 per barrel if the armies in the Middle East go to war. Oil prices were bolstered by bullish prices for refined petroleum products. Home heating oil moved up 3.33 cents to 91.86 cents per gallon, while unleaded gasoline rose 1.64 cents to 91.54 cents per gallon, both on October contracts. Unleaded gasoline was higher on news of refinery problems in Texas and Louisiana that will temporarily cut back a capacity of about 0 barrels of crude each day, Hittle said. "It's bad for the gasoline supply situation," Hittle said. "That's why we had a rally in gasoline prices."' Home heating oil's rise was partly in response to a National Weather Service forecast of a cold fall. Contracts for later months were all higher for crude oil, heating oil and gasoline. Natural gas was up 2.4 cents to $1,846 per 1,000 cubic feet on November contracts, with other delivery months mostly higher. Oil's move to $35 per barrel in the futures market comes three e days after crude had set an high of $33.75. That shattered the old record of $32.35 set on Aug. 2, 1983, which had been matched once during the current crisis. 300-00- V V T CACHE MORTGAGE CORPORATION 203K (ALL IN ONE) Now Available in Utah County. For More Information Call: Greg, Mark, or Karla 225-910- 0 AP mm 26 MUTUAL FUNDS 5- 238- 7.42 Ask Bid 25 Appie Computer - 4l 6.99 SPECIAL PORTFOLIOS 21 11 NoveU ikT' 34 26 19 17.79 16 SCP 26- - NEW YORK (AP) Oil jumped to a record $35 per barrel Thursday, as the Persian Gulf crisis pushed futures markets into another wild rise. "It's amazing to watch a market like this," said e Hittle, a senior oil analyst with Shearson Lehman Brothers Inc. Light sweet crude oil contracts for October delivery traded as high as $35 a barrel on the New York Mercantile Exchange before set- - 21.89 14.86 16.24 14.22 15.54 6.96 7.61 Option Income prices surge to record high 19.22 13.74 20 26v8 16 Iomega ' 80', 23.44 4 OVER THE COUNTER ', 204 194 114 Textron ll3 4lvB 1134 18 v, 444 Texlnst 4' 5v 41ft 19 55 '4 SaraL s ScottP Sears SierPac 22 22 Pac. Pwr. Works w h Water&Power 0- v. lePCp 60. 22' 304 304 28 274 Bo'se Case. Commodore Int Eastman Kodak Geneva Steel Gen Tel & Elec Hercules Inc. Intl. Bus. Mach. Knss Gas & Electric Fre(j Meyer Marriott MerriU 63 32 7- ReyMU Rockwl Roy ID 324 324 33 22- 4- 4 Pfizer & Albertsons American Stores Ani. Exp. USX 414 PepsiC s PugetP Quanta H.66) 1- 4 Penney ?P 500 311.48 100 296.24 304- -4 v. w PhilMr PhilPet & McDonalds Ohio Edison Occidental Vet. Pinnacle Vest (AZP) Pub. Svc. of Colo. Pub. Serv N. Mex Smith's Food&Drug Savin Bus. Mach. Syntex Teleflex '-' 42 Pantf Syntex TRW 34 27- 420- 4- At Oil 10.51 10.51 21.45 17.59 12.81 20.03 16.28 Keystone Tax E Oppen Directors Oppen Special Oppen High Y. Pioneer Fund Pioneer II Putnam Voyager Templeton Grwth Templeton World Templeton Global NEW YORK STOCK EXCHANGE Open Close 464- -f McDnD McKes Merck MMM SwBeS -4 364 52 3034 s 1" l MaM, ProctG s PSvCol 524-1- W 234 GnMotr GM E s GaPac Gillete Gdrich 184 H 33W GnMills MDU Potltch Primca Dresr s duPont s EKodak Eaton Exxon GenEl UPac V, v, M'i- -1 Industrials 2518.32 Transportation 879.99 ' I 9' 274- -1 Polaroid PopeTal PortGC v DowCh s GnDyn Ifr PacEnt PacGE PacTel 51V, CurtW n i4 v Borden s $ 254 NtSemi 27'- 4314 v, Chryslr 45- 421- 4- Htt!.. m? l4 WstgE s Weyerh Wolwth 4 74 H Open Close DOW JONES AVERAGES VOLUME 146,980,000 ' 107C IntPap JRiver 0'- 254' 74 30 Mi SHEARSON 4 49' LnStar 32' Chiquta 24 UnPac "nisys 4 4 Varian WarnL - l4 14 27L Catcrp Chmpln Chevrn ITTCp IdahoP 324 15- 4- 34 14 ' 1-- 13i Brnwk 204 884 H USX UCarb UnEiec USWst s Univar s Unocal s 4 31' Kmart BakrHu BellSo Boeing s BoiseC Honweli BM Avon BnkAm Hmstke Vi 26v, 46,4 Amrtch Beams BellAtls 574 104 2lv AlntC.r s AT&T Amoco Anheus Armco AtlRich Atlas Halbtn HeclaM HewlPk -- 14 101 UALCp limp Stocks Friday, September 21, i))0 The Daily Herald, Provo, Utah Timken vjTodSh q Am Cap Comstock Am Cap Pace FD Am Cap Venture Eaton Vance Muni Keystone Keystone B-- 4 B-- 2 Bid Ask 14.23 11.30 14.22 9.17 4.53 15.52 15.55 11.99 15.09 9.17 4.53 15.52 Stocks face 'witching hour' - NEW YORK (AP) Stock prices hovered around Thursday's closing levels today in activity swollen by a quarterly "triple witching hour." The Dow Jones average of 30 industrials edged up 3 96 to 2,522.28 by noontime on Wall Street. Gainers and losers were evenly balanced in nationwide trading of New York Stock Exchange-liste- d issues, with 688 up, 690 down and 505 unchanged. Today marked the last trading in a series of options and futures on stock indexes, contracts which are used by professionals engaged in stratemultiple computer-prograindividual involve also that gies stocks. Some of those contracts were settled as of the opening today, with others due for a last reckon- m Geneva reports income lower Analysts said the turbulence generated by the witching hour made it difficult to draw many conclusions from the market's fluctuations. But most observers agreed that little had happened to dispel the fears of recession and inflation that have been depressing stock prices since early summer. Scott Paper tumbled Vz to 34 after the company said its earnings for the third quarter and all of 1990 might fall short of its operating profits for the corresponding periods last year. Among actively traded blue chips, General Electric rose l1e to 56V4; American Telephone & Telegraph gained 5e to 31 Vs; International Business Machines dropped Ve to 10734, and Boeing was down Vi at 43. In the battered banking group, Chase Manhattan edged up '4 to and 14, but Citicorp lost V4 to 16 Manufacturers Hanover lost 5e to m 251'. The NYSE's composite index of By PATRICK CHRISTIAN Herald Staff Writer g income at Geneva Steel Co. fell in its fourth fiscal quarter as the demand for steel lessened. The local integrated steel mill reported a net income of $10.3 million for its fourth quarter that ended Aug. 31. During the fourth quarter of 1989, the mill reported an income of $15.7 million. The net income per common share of stock for the recently-ende- d quarter was $0.69. It was $1.27 for the same quarter last year. "Geneva Steel continued to experience a softening in demand for its products and as a result reduced prices in the fourth quarter of fiscal 1990," said company president Joseph A. Cannon. He said the effects of the market's value decline were mininiized by an increase in producing higher-margi- n plate products during the current fiscal year. Cannon said even with the market softening, the company's income was above the expectations of company officials. "In addition, steel tons shipped exceeded the prior fiscal years." said Cannon. He said in fiscal year 1990. Geneva Steel has been actively implementing a modernization program that provides for improvements principally to the company's casting and rolling facilities. According to Cannon, these improvements are expected to result in production efficiencies that will enhance its ability to take advantage of the low cost at which itproduced iron. "The first project incorporated into our modernization program was a biological wastewater treatment plant. As projected, the constitution of the plant was completed by Aug 31, 1990. Steel-makin- steei-makin- ing at the close. g, all its listed common stocks slipped .25 to 171.47. At the American Stock Exchange, the market value index was down .75 at 316.43. This Saturday and Si September 22nd and 23rd. Keating 'a pauper' Every Video Come System by - inteilivision Every Cartridge for Nintendo, Sega, NEC Turbo Grapftix, Atari & inteilivision NEC, LOS ANGELES (AP) Charles symbol Keating Jr., a of the nation's S&L crisis, can't fight criminal and civil charges against him unless his $5 million bail is reduced and he is freed, his lawyer told a judge. "He is suffering a severe deprivation in his ability to prepare for the proceedings here and a myriad of other proceedings," lawyer Stephen Neal said Thursday during a hearing. The hearing was to continue today before Superior Court Judge Gary Klausner, who surprised even prosecutors by setting such a high bail for Keating and $1 million bail each for three Neal and character witnesses, including a nun, said Keating is a pauper, escaping personal bankruptcy only through his banks' forbearance, selling jewelry and vacation homes in the 3ahamas to pay his debts. high-profi- le Sega, Atari & Every Truck Every Doll Every Bike ePvprv sefion Pioopp & action Uiiiie Every Home Computer & Accessory Every Talking Doll Every Learning Aid Every Board Game Every Audio Item Toy & Activity Set Every Every crib & stroller Every Car Seat Every Train Set Every Race Set Every Skateboard Every Sporting Good Building Set Every Scooter Every Nintendo Video Don) Pre-scho- ol Came Systems & Sorry, Disposable Diapers, Baby Formula, Nintendo Came Boy are priced so low they cannot be Included In this saiel or to This discount does not apply prior sales LIONEL Bank may underwrite - WASHINGTON (AP) J. P. Morgan & Co. is the first bank since the Great Depression to win government permission to underwrite corporate stock. The Federal Reserve Board said in a letter Thursday that J. P. Morgan Securities Inc., a subsidiary of the nation's fourth largest bank holding company, "may commence underwriting and dealing in equity securities." Thus the company will be peran area of fimitted to nance barred to it since the 1933 Act separated commercial and investment banking. SHOP MONDAY THRU SATURDAY 9AM SALT LAKE CITY Next to er Glass-Steaga- ll BRICKYARD PLAZA O 145 W.72X South P. Club in Midvale 3300 Soutn Street and 1100 East Street til 9:30PM OCDEN OREM. SUNDAY 11AM til 6PM kllUUJC lb. 1182 Newgate Mai! 36th Street & Wall Avenue 1375 Soutn State Street State Street & 1400 South street Returns1 NO a ma Probtem! Simpjy c-- catm a- retjrr -a yOjr rece'pt |