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Show Jl r rryrrr,rrrrrrT-- T Success Largely Luck gait inkt Market Funds Studies Receive Much Publicity By Harold Finley amounts of money to invest in stocks that they must select a rather short list of issues; these may be of smaller " Chicago Tribune Writer Two law professors have been receiving much publicity regarding their comments on a study of market funds made by the research division of the American Bar Assn. Their There certainly are many cases on record in which individuals have consistently shown better rssults than the general market over a period of 25 or 30 years. Some investors have better judgment than the masses who lose money and complain that their luck is bad or that Wall Street is discriminating against them. conclu- sion was that you cant consistently beat the market . . . suc- cess rests largely on luck, there- -' fore large pension funds should invest in market funds which are designed, preferably by computer, to do no better nor worse than the general market. The financial district has known for years that mutual funds in the aggregate show results approximately equivalent to that of the general market and some big ones do not perform as well as Dow-JonIndustrials. Many institutions manage both mutual funds and employe benefit plans with similar results. Large Fund It is almost obvious that a very large fund of any kind can significantly beat the market only with great difficulty because its very size requires that it be mostly invested in stocks of very large companies which dominate the averages and pretty much are the market. However, it is very unfair to conclude that all stock market success is due to luck. Most investors have small enough Sound Stocks Those with good judgment usually buy sound stocks wben they are selling at bargain levels, then hold them through the years until they become extravagantly priced. They do not expect to make a profit on every transaction but they recognize their errors promptly and cut losses short. They buy sound values before they are widely recognized and are suspicious of situations which are excessively popular. es this kind If you have of judgment your investment performance through the years will be considerably better than if you invest in market funds. Declare Dividend Deseret Pharmaceutical Co. has declared a 6.25 cents per share quarterly dividend, payable Jan. 7, 1976, to shareholders of record on Dec. 5. Nippon Sets Auto Export Record Reuters News Agency Japan set a record for automobile exports in October as the country fought to overcome domestic recession by boosting overseas sales. The Japan Automobile Manufacturers Assn, said Friday vehicle export sales last month reached 249,654 units, an increase of 10.6 percent from September and a jump of 22.1 percent over October last year. The previous export record of 247,474 units was set last July and the new figure was due to increased sales of cars in the United States, the manufacturers association said. The latest export record comes at a time when the Japanese car industry is under fire particularly in Europe for its penetration of overseas markets and difficulties faced by foreign makers in selling their cars in Japan. The European Common Market commission is awaiting a reply from the Japanese over representations to improve access for foreign cars to Japan. TOKYO Metal Markets NEW YORK (UPl) - Metal prices Aluminum, primary, 99 $ per cent plus, pure. SO lb. ingots 41 OOc lb. Antimony, domestic, 9V per cent pure, fob Laredo, Texas, bulk IS8 00c lb Cooper, electrolytic, delivered US. 63 62S45.00C lb Lead, common, U S. primary producer 20.00c lb.; U.S. secondary producers 20.00c lb. 99.9 per cent pure, boxed Manganese, lb. regtfer, Nickel, electrolytic cathodes, f.o.b. Port Col borne. Ont., 720.00c lb. Platinum, soft, 99J fine, producer OOr dealer oz. approximate 00 76 lb. Quicksilver, Tin. N Y. prompt delivery 313.00c lb. Tungsten powder, H Red 96.8 per cent minimum pure. $t0.ts nom. lb. Zinc, prime western U S. 38.50-3- 9 00c to. fie. Markets in Brief PRECIOUS METALS NEW YORK (UPi) - New York Silver futures closed Friday 1310 to 1480 points lower Sales 15.800 contracts. SILVER FUTURES: NEW YORK (UPl) - Markets glance at the close on Friday: NEW YORK (UPl) - Markets glance at the close on Friday: Stocks -- Mixed in slow trading. higher. New York to 370 points PLATINUM FUTURES: Spot cooper wire (UPl) bars closed the second session on the Metals Exchange Friday 3 pounds higher with buyers 566 and sellers 567 pounds per metric ton, forward 2 pounds higher with buyers 586 and sellers 587 pounds per ton. Sales 647S tons. Soot coooer cathodes 2 pounds higher with buyers 553 and sellers 554 pounds per ton. forward 24 pounds higher with buyers 573'? and sellers 574 pounds per ton Sales 500 tons. Soot tin 11 oounds higher with buyers 309 and sellers 3063 pounds per ton, 17 pounds forward higher with buyers 3132 and sellers 3135 pounds per ton. Sales 875 tons. pounds higher with buySpot lead 2 ers 1644 and seders 164, pounds per ton. forward 2 pounds higher with buyers 171 and sellers 1714 pounds per ton. Sales 5.75 tons. Soot zinc 1i4 pounds lower with buyers 33?i end sellers 3334 pounds Per ton, forward 14 pounds lower with buyers 3454k and sellers 346 pounds per ton. Sales 4.425 tons. Soot silver 1.50 pence higher with buyers 208.50 and sellers 208.60 pence, 3 1.10 pence months forward higher with buyers 214.40 and sellers 214.50 pence. 7 months forward 1.30 pence higher with 223.30 and sellers 223.70 pence buyers per troy ounce. Sales 87 lots. Livestock Markets - Livestock KANSAS CITY Friday: Hogs 700; barrows end gilts under 260 tto steady to 50 cents higher with most advance under 230 lbs. sparse supply heavier weights over 270 lbs. weak to SQ cents lower, barrows and gilts U S 0 U S. 3 lbs. lbs. 51.25-5- 2 25; scattered sales U S. lbs. 43 JO; sows scarce; few SO0O lbs. steady at 41.00. sales U S. Cattle 100; not enough to test prices Earlier in week slaughter steers high 5 lbs. good and choice 4 0 lbs. 40.00-4- 2 00; mixed good and lbs. 400.0042.50. choice Sheep no report. CHICAGO Range: 53.00-5- 50; tbs. No 51 No No 4 260 280 lbs. 48 Monday's estimated tle; 1,500 hogs. receipts Futures Grain (UPl) Lew Close Prey. WHEAT Dec . Mar May Jiy Seo CORN Dec Mar May 51,000 00 per bag - face value. GOLD NEW YORK (UPl) - Foreign and Domestic gold prices Friday: LONDON Morning fixing 138.25 down 0.50. Afternoon fixing 138.15 down PARIS (free market) 139 97 down 1.96. 139 08 down 1.45. FRANKFURT ZURICH unavailable. NEW YORK Handy and Harman and Engelhard were closed Friday tor an extended Thanksgiving holiday. .17) $ofl offering - Bahia trees during the planting season that begins in December and ends in August. To draw experienced coffee growers to Bahia, the State Agricultural Department has sponsored conferences in I rain - AH sates in hundreds (OO)'omitted (z) exceot for those designated which are traded in 10 share lots and carried in full. DIVIDENDS: are annual unless otherwise identified: (a) plus extra: (b) paid last year; (c) payment on accumulated dividends; (d) declared or paid so tar this year, no regular rate; (e) cash plus stock; (g) annual rate plus stock dividend; (h) paid this year omitted; (i) percent in stock; Ck) percent in stock paid last year; (q) in bankruotcy receivership or reorganization; (s) capital distribution; (x) exdividend;' wi) when issued; (wt) warrants. FRACTIONS: (f) indicates following figure is fraction in 32nds; (I) indicates following figure is fraction in 64th$ (r) following figure is fraction in 256ths; (s) following figure is fraction in 128ths; (t) indicates following figure is fraction1 NEW closing Stocks 30 Inds Tms 20 IS 65 Utils Stks - 862.96 169.37 83.21 262.25 Close Chg 854.06 167.77 82.66 865.24 70.27 83.75 Jones 0 83.27 10 261.82055 Transactions in stocks used in averages 1,149,400; TransportatIndustrials Friday: Total Utilities 193,400; ion 421,500; 263.26 Range of prices this year: 30 Inds. 881.81 632.04 High Low Bends: 40 Bonds 10 1st RR 10 2nd RR 10 Utils 10 indus Close 68.64 48 60 61.56 86.43 77.96 0.01 4 0 20 I 14 53 28 47 96 6 16 34 007 -- 0.21 a.rn. Noon p.m. 2 p m. 1$ Utifs 3 P.m. 87.07 Net chg. 72.02 Pet. chg tt Trans. 174.12 146.47 Press International By United 169.33 169 12 169.29 168 88 168 80 -- 0 20 -- 0.11 860 52 858 00 857.29 856.97 856.42 -- 2.13 11 -- 0.24 83.24 63.14 83 24 83.08 83.17 261.79 261.20 261.17 260.89 260 80 -- 047 -- 0.17 27- 28 125 36 6- (UPI) Standard & Poor's hourly indexes for Friday. am. 102 05 101.86 101.79 37 60 37.61 37.62 44 30 44.17 44.16 2 3 101.78 7? 101 AS p.m. P.m. 37.S4 37 52 37.47 101 Prev Close Jan 10 182.900 161,700 150.800 149,400 123.900 ClPM Chg. $ 29 20 vs 13V 1 50 - Pa Texaco Inc Scudder D V Househid Fin Sat Comm Anaconda Co 20 12 5 8 24 9 21' 7 143J0 30 S3 38 00 130.50 35.50 138 JOB 141 JOB 1 42.00 144 008 137 00 139.50 141.50 14250 B4td. CHICAGO (UPl) Exchange closing 43 25 43.15 - Chicago Mercantile price range: 43.40 43.60 42 80 42.80 148 42.95A FEEDER CATTLE: Mar Foreign Exchange 8 NEW YORK (UPD - 2 p.m. foreign exchange rates in dollars. Friday Wednesday .9886 994 Canada free dollar . 2 0220 England pound 2 0135 30 day futures pourvf 90 day futures pound 1.9980 1 2675 Australia dollar .0545 Austrian schilling 1.0525 New Zealand dollar 1.1530 South Africa rand .0254 Belgium franc .1635 Denmark krone .224$ France franc com .3717 Holland guilder .0014 Italy lira (Com) .1801 Norway Krone .0375 Portugal escudo .0170 Spain peseta .2266 Sweden krona .3741 Switzerland franc .3814 West Germany mark LATIN AMERICA .0191 Argentina peso .1145 Brazil free cruzeiro .0310 Colombia tree peso .0410 Ecuador sucre .0801 Mexico peso Paraguay guarani .0080 .0225 .372$ 2337 Pakistan rupee Philippines peso .1025 .13 tt Chg. 24 5 16 2 77 1714 vs 84,900 84,400 D- 93 - DrPeppr DomeM Dow Ch .80a IS DoqneL 1.72 8 3 63 19 E E E Systems I Eastern Air EastK 1.56a EatnCo UO 19 EttraCp 1.60 .3737 .0014 .1810. .0371' 1) .01 71 54 8 Exxon XT725 .3725 .2337 257 .0148 3.42 .0685 .1130 .0024 .1995 .0033 .1025 .1350 3- Mar JlyV Oct Dec 1S7.0B 155.0 1SS0B 155.08 1554 152 03 ISO OB 150.06 WRIT ADS Dial 521-353- 5 155.1 I $4.1 152.1 152 149.1 148 5 150.0 SO 15 5b F F 23 1- 2- FMC i - -- 5 12 22 4 7 19 23 19 Fruehuf 9 1.80 -- O 1- 31 59 10 S 2 16 10 25 12 Gen Instr 2k GenMIlls .68 GnMot 2 40b GenMot pf 5 G PubU 1.68 GnRefr .30b Gn Steel Ind 71 13 GTE 1.80 G Tire I.IOg Ga Pac 80g Gerber Gillette Gondric 17 11 13 M2 U 197 61 88 21! 493 DU - CHICAGO ) Butter market Friday: Prices paid delivered to Chicago unchanged: 93 score 01 00; 92 score 90 score too tew sold to establish 101.00; an adequate market. Eggs; Prices paid delivered to Chicago unchanged to uo 2. Prices to retailers (grade A, In cartons delivered): Extre large large ,14670; mediums tee few sold to establish a market. 10 5 IS 9 9 27 IS 8 49 9 7 2 10 2- 8- 7ft 2- u 5- 14 24 29 . ' 35 9 5 11 7 I 1t 16 .6? 60 TranUn Trans W Air TrICont .9 TRW In 1.20 40 TwCFox 6 4 UALInc .60a UARCO 30 Un Camp 2 UnCarb 2.40 Union Corp 28 Un Elec 98 UnOCal Un Pac 2.60 SO Unirovai Unirovaipf 6 Utd Brands Ufd PkC Mn US Gvp UStndu .20b USSteH 2 80 US Tob .0 .96 Upiohn Utah (ntl la UtahPL 2 40 Ut PLpf 2.80 UV Indus 1g 21 S 14 8 9 6 7 14 6 18 6 11 21 12 9 4 II .20 1.19 Va Elec 6 -W 9 Walgreen WstnAr ,40a 9 WsBanc 1.40 5 WUnion 1.40 61 Westh El .97 34 .80 24 Wevrhas Whrlpool 80 21 WhtMot .10h Whitt akr Cp Winn Ox 1.44 14 Wooiwh 1.20 9 42 120 28 333 1494 375 144 13 8 10 17 13 36 27 .yft ,,, $ 71 27 39 378 3 38 22 12 1239 9 I? 32 22 Cp ZaieCorp .80 Cc-- p Zavre ZenlthRad .m 50 -- 22v- ,- ( Mt2,.- V, - v. Mutual Funds NEW - (UPl) asked Mutual quoted 6- - FIDELITY Following GROUP: bid and on prices as Funds bv the NASD YORK - list a is PRICE ROWE: of Inc. Friday 28. November 17y- W 79 14 - 6)- 197$ Ask Bid 37- - Adm Gw ins Adm AM FUNDS Am Grth AmNt Gr ANCHOR 3 A 6 67 GRP: 4 80 (Z) 4 39 (z) FDS: 12 86 N L. Inti Fnd 12 94 N.L Baianc Com 8.15 N L. $tv 20 45 N .L. Specai 4.23 Sbd Lev STEIN ROE FDS 16.73 N L Baianc 7.43 N L. Caoitt 11 74 N.L Stock UNION SERVICE GROUP: 11 38 12 44 Brd S IV UNITEO FUNDS: 5.79 Aoeum 6.55 7.16 end Fd 8 30 9 10 Cont gw GROUP: Grwtn - F Audax AXE HOUGHTON 1B 454- 744 244 21 9- 4- 2- 30 19 17 4 19- 6 Cont 17 19 7- - - Ca USAA GvtS US USLIFE 244 II 69 COMMONWLTH 15 49 TRUST: a 494-- Over the Counter 1- 5- 17 22 24 30 27 13 35 79 2P P- 0- 8 134 .85 EATON 4 HOWARD: Bain Fd Inc me F Soecil Sick Fd 45 18 a DREYFUS Fd Dryf Fd Eqty Dryf lv LA Dryf Incm Sp 71 Friday's Quotations a GRP 10.15 4 05 12.68 10 01 X6.45 7.95 5 40 SANDERS: Invest VS Com Soecl VANOUARD 11.34 NAT SEC FDS: Ex oior 4 33 7.87 8 60 Baianc vest 13 90 4 09 4 47 Bond Sr Moron 3 18 3 48 N.L. Dlvidn Trust 5 45 5.96 N.L. Pret Stk Welslv x4 33 4 73 Wetim Incom Stock 674 7.37 Wstmn Sr 8 69 x5 20 5 68 Wmdsr Grwth 5 21 8 77 11.61 Energy FEDERATED GR xlS 56 Emp 21 5 8 90 11 07 7.92 N.L. 6.22 5 11 2 26 N L. 9 40 9 4.51 2 68 2.93 6 10 6 67 567 6 20 614 6.71 GRP 16 08 7 27 10 13 8 98 10 68 8 78 0 98 7.71 57 7.9$ 07 9 81 11.67 9.60 17 11 69 9.58 N.L 5 FD PIONEER dividend, 11.29 12.34 Fd Pion American Slock Exchange 4 6 11 36 40 15 60 41 20 4.V1 34 23 29 11 37 39 11 15 24 Pfizer .76a 13 Phelp 0 2.20 II PhiiaFI 1.64 8 PnilPet 1.60 14 15 PlllsburvC Pitney B .60 7 PoidrtoxJ .32 26 10 PPG ind x473 117 96 93 132 116 415 99 2 14 2 9 15 27tf- t33 84) 4 3 14 53 43 14 334 - 2 2 4 10 I 2 2 II 6V ii 3 A&E Piastk Aero FI .l$d AfRichfd wt Beverly Ent 4 10 Brascan 4 14 1g Castieton In Circle K .32 Coleman .44 DavMn .10b DynmicA 5k Fashion Fb Fed Resour Flvng Otam Frontier Air 7 14 6 S 6 54 4.13 90 4th Bank Clearings 8 12 10.10 5.68 4.66 FUNDS: F 3.1 4 06 LINE FDS: Aoex VALUE Inc Vai Vai Spc VANCE 21 - Inc Incom Scienc Vangd Utd SvcF 3- 124 13 64 22 27 40 j 11 V 124- 23 SI 79,655,083.00 Wednesday's debits Same day last year $108,795,016 00 Week's debits $598,168,449 00 Same week last year $501,516,130.00 $159,570,380.50 Today's clearings $1 2,085,997.49 Same dev last year Week's clearings $490,21 4454.43 Same week last year 138874466.14 Month's clearings $2026,392,763.39 Same monthjast year $1 672,023,009.08 i 13 9 27 17 20 43 29' 12 4 67 24 Friday's Quotations E? Market 6 0- 22 - 5 18 13 22 SB - - 25 15 43 26 33 17 72 25 39 23 36 17 - 1- 65- 6 66 3 0- 3- 16 9 13 17 37 40 2 9 32 61 41 40 48 28 7 4 4 14 1.10 1.50 ) - 29 56 5 w - 21 8 TexguD 1.20 Tex instr TexUtil 1.24 Textron UO .70 Thiokol ThcittvD .40 Timkn 2.20a TraneCo .96 Transam -- 46 V 7- 9- 18 14 16 12 9 4 24 13 6 24 5 16 14 7a tt 22 S3 74 29 29 26 6- 3- 11 61 4- 344- 23 TexETr U0 S 4- 1$ 11 6 19 5 9 5 28 - S3 6 Texaco 15 172 97 24 86 6 247 4 108 7 1215 7 52 TesoroPet 25 23 71 4 -7 16GAC Com GAF CP .52 Gam Sk 1.40 .60 Gannett Gen Dynam 10 10 3 6 71 21 - 28 25 48 32 22 26 19 30 42 13 7 80 454- 29432- 1.46 pf 1 16 - 19 17 27V 6 16 8 8 13 107- 18 37 86 11 FlaPwL 62 10 81 8 ? - - 2- 14V 18v 93v 9 34 2- -1 4 91 393 145 59 113 130 4 59 17 88 Feberge .40 FairmfF .68 I Far ah Mfg 1 FerroCorp 5" Find SB .20 5 13 Flrstne 1.10 9 8 27 24 78 66 8 15 2- - 1- - 4 11 374 J834) .11451 0312 .0410 .0001 .0080 14 36 10 5- 5 133 488 34 4 8 3 15 14 .01911 15- 4 9 Oil T T Tandy Corp Techncolor Teiedyne 3k 76 Teneco Sup U 34 17 25 19 Envirotech -- .1M83Vi 6' .2255 V. 41 11 65 42 29 10 39 12 22 28 15 71) 36 11 7 6 v 153 SC 2- 19- 2- 5 249 8 25' 27 20 28 39 36 119 25 26 17 S04 21 8 .36 12 20U0 .0547 1.0550 1.1530 .0255 - 4N; Want Ads DO MORE THINGS FOR MORE PEOPLE AT LOWER COST than any other form of advertising! The CAB earlier had ordered the airlines not to put the fare hike into effect until it could rule whether the increase was needed. - 31 9- Quotations from the NASD ere representative Interdealer prices as of CHICAGO (UPI) - Cash grain p.m. Interdealer markets change throughout the day. Prices do Wheat unchanged; No. 2 soft red 3 42vn approximately Wool (UPI) not include markup, markdown or commission. Com io 1; No. 2 yellow 2.72vnN. Muon cloud unctungod to 7) point, 2 extra No. Itldhw on ttw New Yort Cotton EKtungp heavy oett unchanged; white 1.59N. Friday Securities Canlflcoted loot wool ltf.O Nominal. Soybeans unchanged; No. 1 yellow Chicago high rate. Hlfh low Clou Pray feed Orotu Wool: Barley malting 157.0B The board has determined that airlines should earn a 12 percent rate of return on their investment. It said the 8 percent fare increase proposed by the carriers would result in the routes producing revenue in excess of that 12 percent figure. Civil 22 YORK Oc The 14 37 27 17 Del Mnt 1.40 6 6 Dennison .25 18 Deseret DetEdis 1.45 8 2 8 Dtamdlntl Diebold .40g 8 Disney .12g 25 1.60 1.40 8 Cash Grain Wool Markets NEW ings and loan business and represents about 98 percent of the industrys assets. The board is made up of one representative from each state, and from the District of Columbia and Puerto Rico. 25 9 9 .44 DanaCp Dresser 2 0345 2 0245 .32 .15 .03 IS Sivs most 10 Close 4)4)0 1 19 Sales 8 8 1 37 25 6 22 14 9 90 87 90 83 90 94 44 22 44.2.5 44.28 121,500 114,400 95,300 -- D 15V Jan 135.50 138.00 141 50 142.00 organization of the sav- 6 5 7 138.50 141.40 144.50 146 80 150.00 trade 70 40 1- 74 1 The league is the nationwide 3- 2264 91.10 90 93 90.87 19i 141.80 143 50 ings Associations. 15 Standard & Poors 500 Stoek Index Sales 138.50 140.00 League 21 Cng 259.7$ 1,764,300. Pan Am Air Citicorp Chase Manh El Westhse Xerox Corp , SALES Dow change of the NEW YORK (AP) Sales, closing prices and active stocks traded on the New York Stock Exchange Friday. 136 20 137.00 139.10 Un-ite- States of Sav- 43 35 13 20 Averages es YORK (UPI) ranoe of averages: Law Open High NEW YORK Peru Sol Uruguay peso Venezuela bolivar NEAR EAST 2.57 Eavpt pound 0148 Iran rial 3 42 dinar Iraq .0685 Turkey lira FAR EAST .1115 India rupee j0014 Indonesia rupiah .)9v5 Hong Kong HK Dollar .0033 Japan yen UfWvoCns, 400 at 1.05 slapped backs from coast to coast. Dow-Jon- no Oct ex- Hes perienced executive. Ten Leading Stocks net Mar NEW Mar 136.00 May 139.00 144.50 Jiy Aug 146 00 143J0 Sep Oct Wheat was subsCHICAGO (UPI) lower, corn irregularly lower tantially and oats and soybeans mixed at the close Friday on the Chicago Board of Trade. cents; com Wheat was off 3 to 5 to JW; oats off 14ft to up Vi; off and soybeans off 2 to up I. speculative support based on inclement weather and an agreement with teedgrains gave Poland to lbs. provide to wav later to commercial erase advances end leave futures prices cat- mostly lower. Outside markets were lower. McDonnell, here, is an - (AP) 1- Mar Mav Jiv Aug Sep Nov Jan WASHINGTON s Mar May Jiv Aug Sep Oct SOYBEAN MEAL Dec 137 00 140 00 Special to The Tribune CHICAGO Emerson L. Hardy, president of Deseret Federal Savings and Loan Assn., Salt Lake City, has been elected to the board of did rectors of the Aeronautics Board Friday rejected an 8 percent hike for airline fares between the U.S. mainland and Puerto Rico and the Virgin Islands. The hike had been requested by American Airlines, Eastern Airlines and Pan American World Airways. The board said it was turning down the rate increase because it had determined that the proposed hike would increase airline revenues too much. in 30 million more Noon p.m. Grown Dragon EastUtah Empire is now 11 Bid QonsSor The IBC farmers loans to put Utahn Named As Director CAB Denies Air Fare Boost Before the July frost, Bahia had about 18 million of Brazils nearly three billion coffee trees. .in !61hs. Fridays Quotations $mTellnc con- But state agricultural officials and the official Brazilian Coffee Institute (IBC) are working to change that. SOYBI Dec COPPER FUTURES NEW YORK (UPi) Cooper futures Friday closed 40 points lower across the board. Sales 1,766 contracts. Law Ooaa Prey. High of Bahia is part of Brazils backward northeastern region. In past years, it has produced less coffee than it sumes. GM and city transit officials will study the demographics and the trip patterns of the area in an attempt to find out where people go and how they get there. People who live and work in the area will be asked what kind of service might get them to leave their cars at home. The second phase, expected to take another 18 months, will consist of a series of experiments based on that data. Walker indicated that most of them will concentrate on improving bus service Cincinnati's only form of because (busses) public transit now are there; we wont have to make a (major) capital investment. s, southern Brazil and has invited groups farmers up to visit existing plantations. The total Brazilian coffee harvest for 1975 was about 23 million bags. Two-thirof that was produced in the Southern states of Panama and Sao Paulo, which were heavily hit by the July frost. Because of the frost, the IBC has estimated that Brazils 1976 coffee production could drop to as little as eight million bags. Other estimates are even lower. By William R. Long Associated Press Writer Coffee drinkSALVADOR, Brazil ers might benefit from a shift in the coffee growing regions of Brazil. The price of coffee in U.S. food stores has gone up about 20 percent this year because an early frost devastated the crop in the southern regions of Brazil, the worlds largest coffee producer. Now there is an effort under way to shift production to the warmer regions of the northern part of the country. This could help avert another ruined crop, thus holding the line on prices. Benefits also are expected for some Brazilian states that are eager for new cash crops. One such stat is Bahia, whose capital is the seaside city of Salvador. Jan 0.. Intennoiiiitain Stock Exchange .13 04 .95 .80 .05 .65 .35 .05 Brazil Might Shift Site Of Coffee Bean Crops Seo Dec Mar .OATS Dec Mar May Jiy SOYBI 43 92 fristol Cbyinds CtuefConi Osvton CbmbMef Obmet Cbmstoek Page 5 Section B Jiv Monday's advance estimated: Cattle MOO; hogs 3,000; sheep ISO. JOLIET, III. (UPl) - Livestock Friday: Cattie 1.000; trade active; steers and Load choice and orime heilers steady. 00; good and steer 51.25; choice 47 couoie loads choice and choice 3 choice heifers prime good and choice 40.Ob43.UO. Hogs 1,000; trede moderate; barrows No and gilts 25 to 50 cents higher bs. higher Board of Trade - LONDON at a in slow traded ing. London Stocks-LowCotton Futures -- Mostly lower. Gold Futures-Lowclosed Chicago Grain Futures-Whe- at to 34; off 3 to 544 cents; com off and soybeans off 2 lo uo oats off to up 1. Cattle Trade Steady; top $51.25. Platinum closed Friday 250 lower. Sales 264 coon tracts. 29, 1973 By Gregory Skwira Knight Newspapers Writer General Motors Corp. DETROIT turned some heads two weeks ago when it said that an agreement to analyze and experiment with a portion of Cincinnatis transit system could lead to "possible major construction, and that all types of service would be considered. Was GM gearing ujj to enter the rail rapid transit business? Or to sell its services as a regional transit planner? Or develop some strikingly new transit equipment? The company isnt writing off any of those options, but its not tipping its hand, either. Were looking at heavy rail, light rail and pedestrian-moverFredrick Walker, general manager of GMs Transportation Systems Division, said this week. No Decision GM has made no decision that were going into the rail business," he said, but the company is exploring every one of the opportunities right across the board to see if those segments of the industry present an opportunity for GM to increase its participation in transit. In fact. Walker said, thats what the Cincinnati project is all about. Theres a wide variety of proven transit technology available, he said. But before GM makes a commitment to develop and market specific types of systems, it wants to know more about what people will use and what they are willing to pay for. Major Traffic The area chosen for a study is one of Cincinnatis major traffic corridors. In the first phase of the project, which will begin soon and last about a year, New York Stock Exchange: Final Quotations at a Government in Quiet trading. American Contract Indicates Entry in Mass Transit fEftbune Saturday Morning, November w GM Markets Finance Mines companies. You do not have to keep them forever but can sell when the general market is too high and reinvest when the market is low. T 9 81 843 ? ' |