Show 4C Standard-Examin- Friday Oct 16 1981 er Stocks and mutual funds NEW YORK (AP) — The stock market was little changed in quiet trading today as traders awaited more clues to the future direction of interest rates The Dow Jones average of 30 industrials slipped 143 to 85483 by noontime But gainers held a slight lead over losers SouPac SouRy Sperry SquarD Squibb StOilCI StOInd DrPepp DowCh Dresr duPont DukeP DuqLt EastAir EastGF EsKod Eaton SterlDg StevnJ SunCo Sybron Syntex Echlin ElPaso EmrsEI Enserch Esmrk F— f ACF AMF AM Inti ASA AbtLb s TexEst Texlnst Texlnt Thrifty Tigerln N— N 80 GAF Gannett 152 320 220 Gentl GnFds Glnst s GnMills GMot GPU GnSignl 30 Vk — 39 Ve 164 357j 240e 67 744 41 — V8 42 29 Gillette GldNug Gdrich 19 6 156 130 172 5 12 6 260 21 289 286 286 25 1 42 3 — Vs 14 — Vs 15 28 — 16Vj 35 Vs 128 11 15 20 150 12 16 116 5 271 13 1089 88 120 140 75 280 148 132 88 61 80 40 2 281 416 18 24 — 7 12Vj 20 29 — 4334 Norton NorSim 180 108 OceiPet OhioEd OklaGE Olm Omark ONEOK OwenC Owenlll 250 HughT V2 s UNCRes UnCarb 11 UnElec 176 168 220 120 156 40 78 15- - Vs USLlFE UtaPL — Ve Vs Varian VaEPw — Vs 24 Vs 11 1 2 2134 18 30 23 29 the government subsidies that European and other foreign steelmakers receive could cause another major international row since this strikes at the heart of industrial policy of the mixed and Upiohn - economies The Common Market is meanwhile stepping up its pressure on the United States to end the DISC a form of export subsidy the United States promotes by permitting American companies to defer taxes on profits from domestic international sales corporations Hit by effects of the higher valued dollar the August trade de- Wackht WlMart WaltJm WrnCm WarnrL WshWt WellsF — state-planne- WheelF Whirlpl s PaPL Whitak Pennzol PepsiCo Wickes William WinDx Winnbgo Wolwtn Wynns INCO Inexco IngerR InWStl Intrlk manufactures which had been in surplus for six months showed a $16 billion deficit But weakness in the over-al- l foreign trade sector had already cropped up in the second quarter s of the It contributed to 16 percent annual rate of decline in that quarter’s output of goods and — X— Y- -Z3 Xerox ZaleCp 126 ZenithR 60 5 4 10 961 14 39 23 34 12 services The third quarter Commerce Department economists think will be down at least another 1 percent with foreign trade again weighing Purex QuakO IntHarv RCA IntMm RalsPur Ramad Ranco Rayth s ReadB s IntPopr IntNrth Iowa PS ItekCp ReichCh RepSti JhnMan JhnJn s JonLgn JoyMf s Revlon Reynln ReyMtl RiteA s Robins K mart Rockwl KaisrAl KanPLt Rohrln Rorer Rowan RC Cos Katyln RoylD Kaneb KanGE KaufBr Kellogg Kenai KerrM BosEd KimbCI Bramff Brnswk BucyEr Burllnd SCM Safewy StRegr Sambos SFelnd j SFelnt s SchrPIo Schlmb ScottP SearleG Sears S hellO LTV LearPt LearSg BriNth BmsRL LeeEnt Lehmn LevitzF LOF Burrgh CBS CPC s ShellT Litton Lockhd Caesars LnStar LILCo La Land j LaPoc Corthw LuckyS CostICk CatrpT Ceionse CenSoW CenllPS CentrDt 128 MGIC 208 12 9 166 7 11 7 7 890 1196 370 10 6 619 84 6 40 40 38 2844 ClevEI Clorox Coastal CocoCI ColaPal ColPen Coltlnd ColGas CmbEn Comdrl 9 33 35Ve — Commodity listings d CessAir Chmpln ChamSp ChortCo Chart wl Chase ChesPn 2 ChiPneT ChrisCft 61t Chryslr 156 Citicrp CitiSvc 160 160 Citylnv ClarkE 220 i Shrwin s Signal s SimpPt Singer Skyline Smtkln SonyCp SCrEG SCalEd Lilly Eli CSX Si RyderS KnghtRd Kopprs Kroger BristM BritPt 18 31 V8— V Gold Silver NEW YORK (UPI) — Foreign ond Domestic gold prices quoted in dollars per troy ounce Friday: Ogden grain NEW YORK (UPI) — Handy and Harman Friday quoted silver at $954 per fine ounce up $0065 Engelhard Minerals & Chemicals quoted a base price for industrial silver of $949 up $0065 ond a price for fabricated silver products of $10208 ud OGDEN Utah (UPI) — Grain prices Thursday Oct 15 1981: Under 11 protein wheat 358 bu down 03 No II protein 369 bu down 03 No 12 protein 397 bu down 03 No 13 protein 410 bu down 10 No 1 soft white wheat 375 bu down 02 No 2 barley 550 cwt down 05 Arrivals: Five cars all wheat London 4 247e 46 23 29 4 1 Morning fixing 44125 off 540 Afternoon fixing 44375 off 290 Poris (free market) 45289 off 1004 Vs Vs 10'2 $007 44399 off 404 44450 off 050 Frankfurt 14 Ve v8 41 V2 — 2 Vi Vs Zurich New York Handy ond Harman 44375 off 290 base price for refining Engelhard settling and gnfabncated gold 44375 off 290 per troy ounce Selling price fabricated gold 46594 off 304 per troy ounce Denver grain DENVER (UPI) — Grain prices Oct 15 1981: No 1 hard winter wheat 372 bu No 2 yellow corn 475-50- 0 cwt No 2 barley 460-48- 0 cwt Cash grain 7 CmwE Comsat ConEd ConFds CnsNG ConsPw ContAir CntICp CntIGrp Contlil ContTel CtIData Coo pr 264n Board of trade 78 CHICAGO (AP) — Futures troding on the Chicago Mercantile Thursday Chg pen High Low Settle -i- - 20 02 CATTLE 40000 lbs Od Dec fo Apr Jun Aug V4 CornG Vi Crock N Crock N CrwnCk CrwZel CurtW Cc P'ev P'fV FEEDER 42000 7s Oct Nov Jar vt DartK n DatoGn Dayco DaytHd DaytPL Deere DeltaA Dennys DetEd DiomS Digital Mar Apr May P't Vt Vt 1 cents 64 50 65 57 64 45 64 57 65 50 64 90 64 00 CHICAGO (AP) — Wheat No 2 Friday No 2 soft red winter Corn No 2 yellow (hopper) unquoted for (box) Oats No 2 heavy 205 n Soybeans No 1 yellow No 2 yellow corn Thursday was (hopper) unquoted quoted at for (box) hard red winter 396n 396n 633n 265n per lb 64 66 65 65 66 65 64 85 37 55 45 64 35 32 30 00 sees 13072 days open int 50824 64 66 65 65 66 65 63 47 00 22 10 48 95 65 52 50 20 12 07 25 90 10 -- 02 i- - 13 r 05 05 e 10 50 65 up 212 CATTLE lbs cents per lb 66 85 67 50 66 80 67 35 68 40 67 25 67 95 68 50 67 87 67 75 68 50 67 75 67 95 68 55 67 95 67 90 68 50 67 90 68 00 68 40 68 00 67 90 68 25 67 90 soles 1452 67 67 68 68 68 68 68 68 00 95 35 25 30 30 20 15 - 15 50 38 53 30 45 20 -- 20 - -1- 5 -2- 0 - - P rev day's open int 10670 off 42 HOGS 300 C lbs cents per lb — M2ud 45 90 46 65 45 60 45 70 Oct S 47 6048 3546 1547 8- 5- 02 tis 48 10 48 85 47 95 48 40 Fee 25 45 60 46 30 45 55 45 65 v 05 Apr 48 00 48 50 48 00 48 05 Jun 03 Jut 48 50 48 80 48 50 48 40 13 48 10 48 10 47 60 47 67 -2Aug - 8 05 No Hay market Utah (UPI) — Utah hay market news for the week ended Thursday Oct 15 1981: (Baled alfalfa hay comparable to US grades) Hay movement this week slow seller interest light to moderate buyers resisting present asking prices rain and hunting season has virtually put a damper on all movement prices remain mostly steady No dairy hay over the state 6000-675- 0 per ton latter price delivered short haul volume sale No daily hay in ton bales central area 7100 per ton roadside stacked Mixed No 2 dairy and No 3 feeder per ton latter price hay 5500-600- 0 delivered short haul 4 feeder hay over the state No 4500-530- 0 per ton roadside stacked small volume rain damaged in southern area 3500 per ton NORTH M Haig advisers expressed serious reservations and there are still doubts that the pipeline will ever be built But Haig argued that the administration still had to go through the motions of asking Congress for waivers to ease the financing because of earlier a 48 made to Prime Minister states represents lower of for Pierre Elliott Trudeau of Canada Cabinet victory Secretary Staff 3d A said: “That’s James Baker what Margaret Thatcher did and I’m not going to do it” The Reagan administration’s decision to support the $40 billion pipeline project that would bring natural gas from Alaska to the quoted recently by Chief com-mitme- Government gets blame for S&L industry's plight Christian said the industry By MARY BETH FRANKLIN does not oppose change but it WASHINGTON (UPI) — A spokesman for the savings and loan industry blames the government’s unbalanced banking deregulation policy for the severe cashflow problems that the industry now faces James Christian “would simply like to see the process realistically balance costs of deregulation against the benefits of deregulation” He said the Depository Institutions Deregulation Committee — the interagency committee that decides banking deregulation policy — “must be re- chief economist for the US League of Savings Associations said if banking deregulation was more even handed “mortgage lending would have continued and housing starts would not have d fallen to lows” In remarks prepared for delivery before the House Banking subcommittee on Housing Christian said “Deregulation has been extremely unbalanc- strained” He noted that last month the committee “increased the ceiling rate on passbook deposits by 05 percent an action which will affect no one’s decision to hold passbook deposits but which will increase savings association interest cost by roughly $500 million a year” — an important factor in determining mortgage near-recor- ed” He noted that thrifts were rates au- Wednesday Jerry Jordan a member of the president’s Coun- g thorized to issue savings instruments in 1978 but were not granted the right to recoup some of their losses through more flexible mortgage instruments until this year high-yieldin- “If adjustable-rat- cil of Economic Advisers mortgages e six-mon- told the same subcommittee that mortgage rates could drop to about 12 percent to 13 percent by sometime next year Mortgages rates are now about 17 percent Jordan said although shortterm interest rates have dropped sharply in recent weeks it will take a further steep drop in short-terrates to pull mortgage rates down had been authorized at the same time as the money market certificates were introduced” he said savings and loans would not be caught in their current cashflow squeeze th m SURE-TO-BLOO- M DtlTCH down on the numbers This year’s trade deficit is running well over $30 billion and next year some analysts fear it could widen by an additional $20 billion QuakSO IntFlov the budget the president as State Alexander of two-third- PgSPL IBM d ficit widened sharply Trade in Northern Utah index Pittstn Pneumo Polaroid PortGE ProctG PSvCol PSvEG ImpICp Borden BoraW Disney UMC 23 62 PitnyB Idaho? Idea IB Boeing BoiseC Dillon UAL 19Ve PhilPet Pilsbry Pioneer IU Int BetbStl BlockD BIckHR Crt-tee- — — PhilaEI PhilMr IntTT CRLk g ComSp Coring CorPw Trico s TucsEP WnAirL PanAm PanhEC Parson Penney INACp Bendx BenfCp Berg 3 BestPd Vs PacTT Ind 1C Be How 19 23 23 21 0- -0 3 371 8 147 7 35 31 10 6 106 4 7 11 38 5 1787 P—Q PPG PocGE PacLtg PacPw 34— 15 132 182 s — 4134 62 78 50 Vs Ve H— H — 11 341 51 120 s — 20 — 17 Vs — 55 22 164 HospC s Houslnt Houln s HouNG BectFd Beker 65 31 21— UnTech UmTel 1 Pfizer PhelpD BnkAm BaxTrv 6 23 USSteel Hoowll BaltGE 160a 164 Transm Transco Travlrs TriCon 87s Gibrrn AFamil BallyMf 8 6 208 9 6 6 20 14 416 1 USInd AHome AHosp AmMotr ANatR AmStd Bkrlntl 2 10 28Va Getty PerkEI AtlasCp Augat s AvcoCp Avery Avrtet Avon 317 TWCp GerbPd Homstk AtIRich 12 Tosco Ve UOilCal UnPac Uniroyl USGyps AmExp Anchor ArchD s AnzPS Armco ArmWIn Asorco AshlOil AsdDG 53 13 7 244 266 Newmt NiaMP HollyS An 111 296 120 NEngEI Holiday AMPIn 1 38— 25— GTire Genesco GaPoc HewlP AElPw 227 42 GTE Holbtn Harris HartH HartfZd HedM Herculs Heublin AmCan ACyan NSemi NatlStl Natom NevPw V2 75 410 148 NatGyp 5 Vs — Ve 36 — Vt 143 18 9 148 AllisCh ABdat 9 8 6 14 8 72 GnDyn 5 11 220 290 NatDist NatFG TimesM Timkn Tokhm — 132 185 NatCan 14 Vi — 38 Vs 24 55 — 82 73 74 253 43 1663 154 31 13 80 s NabscB — 6— GtAtPe GtWFin Greyh Grumm GlfWst GulfOil GUStUt GulfUtd Alcoa $ Amax AmHess AmAgr AmAir ASrnd s 220 NCR NL Ind NLT Grace AlfgPw $ TexUtil Gould AildCp AlidStr pinching exports and sucking in more imports is adding to the woes of agriculture steel autos chemicals textiles and other foreign trade sectors as further weakness develops in the domestic economy The steel industry’s new round of demands for protection are only the first manifestation of the economic storms that many see ahead as policies shift from fighting inflation to preserving jobs American officials welcomed the interim accord in Paris last week to reduce export credit subsidies though they are still keeping their fingers crossed that the Japanese finally will come round and accept the new “consensus” rates But other major differences exist that could add to tensions American farmers are increasingly upset over European agricultural export subsidies The Common Market’s threat to tax imports of soybeans — representing $500 million a year of business for American farmers — isn’t helping soothe the farmbelt The steel industry’s assault on TxOGas TxPac Goodyr Aetnlf Air Prd Akzona Alcan Alalnt rise over the past year already Telex The NYSE’s composite index lost 03 to 6936 At the American NEW YORK (AP) — Midday national prices for New York Stock Exchange issues PE Sales Last Chg — A— A — Times News Service WASHINGTON — The dollar’s Tennco Tesoro Texaco percent this summer came down this week to 18 percent But some economists have warned that it may turn upward again before long Volume on the Big Board totaled 1529 million shares at noontime against 1881 million at the same point Thursday c1981 NY Talley Tandy s Tndycft Tektrnx Teldyn s Exxon The bank prime lending rate as high as 20 Yz market value index was off 44 at 30789 By CLYDE H FARNSWORTH TECO TRW Ethyl ExCel among New York Stock Exchange-liste- d issues Stock Exchange the Foreign trade sectors hurt by gains in dollar's value SALT LAKE 3-- 4 Miscellany: The Economic Development Administration supports community or business projects in depressed regions with loans or guarantees that are designed to get more people working and spark general economic recovery But in practice much of the money has gone into the constituencies of powerful legislators as what one economist called “the pork in the pork barrel” Now it turns out according to some new figures from the agency that many of the projects that it has supported have gone belly-u- p with taxpayers picking up the bill Forty percent of the $16 billion of loans and guarantees in the agency’s portfolio are in serious trouble This means the project is in liquidation one step from liquidation or that the loan is at least two payments in arrears Some loans go back as far as 1962 but the vast majority of the sour paper was generated in the last three to four years an EDA spokesman said One illustration: the Wisconsin Steel Mill in Chicago which had employed 3000 workers and whose owners managed to get EDA to guarantee 90 percent of a $90 million loan in August 1979 The mill went bankrupt in March of 1980 following troubles of its major client International Harvester The government has already had to pay out $60 million Meanwhile EDA is now sitting on the mill seeking desperately to get some new investors to take it over The Reagan administration had wanted to wind up EDA by the end of the last fiscal year (Sept 30) but Congress has refused to let it die The recently cleared House appropriations bill provides the agency with nearly $300 million One of the administration’s arguments is that the EDA’s community efforts duplicate those of such other agencies as the Department of Housing and Urban Development the Farmers Home Loan FLOWER-BUL- B! £ ° Vi PRICE 3 DAYS ONLY! 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