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Show 27, 196 SUNDAY HERALD SUNDAY, ae ree Utah County, | Week's Wall Street Roundup 655% co | “GOOD SOUND Stocks ‘Mark Time,’ Then Christmas Gifts From ‘Rally to Higher Positions By DAVID DEITCH ings— called holiday NEW YORK (UPI) — The stock The market celebrated Thanksgiving gained A. L. DUCKETT lectively-orientated than ever before — focusing their attention on the ‘specials’. —those romantic high-flyers sprinkled among the electronics, bowling issues, vendthis week after all just when it but the recent blandness of their ing machines and others that are appeared the pickings would be performance indicated that trad- priced high in relation to earn«lim indeed. ers were awaiting a firmer stage ings. A fairly substantial rally Friday to: be set for a hoped-for year-end Business, of course, continued ‘afternoon carried the list into rally. on the gloomy side with econoInstead, board-room jockeys mists finished debating whether higher .ground after three. consecutive sessions of desultory deal- were forced-to become more se- the nation was in a recession and UPI Financial Writer “marking time,’ brokers it. Thursday, of course, conditions prevailed. big- blue industrial chips a little ground, it is true, SALES & SERVICE arguing instead on the specific PLEeae quarter in 1961 in which an upturn could be expected. The general result was a stock list which O E R E T S i F i H Compact showed little inclination to move very far in either ‘direction. Balancing out somewhat the lack of stimuli from the business front were a couple of bullish technical factors. Most important was an announcement that the short interest position on the New York Stock Exchange on Nov, 15 stood at its highest level since Jan. 15, 1959. A large short interest position Odds are against a steel price in- will be worse if nothing is done to crease on Dec. 1 when industry offset the Dec. 1 employment cost is. considered bullish since the short sellers those that sell “wage rates go up au average of inerease. borrowed stock in the hope the _ 8.4 cents an hour and.total emprice will go down must at ployment costs may advance as some time in the future buy back much as 18 cents an hour. the stock in order to return it. Steel magazine reported SaturThis future buying represents a day that major producers reluccushion to soften any decline or tantly agree the market will not accellerate. an advance. support a price increase at this In addition, technicians were time. They are caught in a squeeze encouraged by the “respect” between rising costs and a weak The Hendricks Prescription demand. shown the 600 level in the DowCenter, located at 50 W. Center But a price increase is sure |to Jones industrial average still in Orem, next door to the Alcome as soon as market conditions considered to be a heavy band of bertson's Shopping Center, warrant. The only questions are: resistance to decline. held its grand opening on SatThe effective date, the amount, A group of prime beneficiaries urday. and which company will make the to the large short interest boost The new full-scale drug first move. Increases will probabwere the gold mining shares store is owned and operated ly be limited to $3 to $4 a ton. by Douglas H. Hendricks, 4] which also responded to news that The magazine reported third the nation’s gold hoard had dipped who formerly was the owner of - quarter earnings of iron and steel below $18 billion for the first time Hendricks Prescription Center, companies averaged only 3.4 per in 20 years. Homestake rose 3%. 23 N. University Ave., in Pro: cent of sales. Several steelmakAn. indieation that investors are vo. The newstore is the result ers lost money; several others still deeply concerned with an exof a transfer of business to the failed to cover their common stock tended business downturn came Orem area. dividends. Fourth quarter results from a general rise in the food shares — considered to be ‘‘recession-resistant.’’ California Packing rose 4%, Continental Baking 3%, Corn Products 4% and Hershey Steel WageRates To Go © PLAYS STEREO or MONAURAL “Up; Price Hike Seen Later © 4 Speaker System * Ceramic cartridge ~ To Begin In February Insurance Training Class Organized by Underwriters local class in sickness insurance s accident training and will be organized by a special com- j; ;mittee of the Central Utah Life | Unterwriters Association with J. $ ; eee Edwin Miner as chairman, The classes which will get underway in February and finish next. May will train life underwriters in accident and sickness insur- | For All Your Loved Ones... Tax Conference Slated Dec. 9-10 The independent ‘educational imstitu- eighth annual tax confer- ence sponsored jointly by the Utah Chapter, National Association of Accountants and the Utah Society of Public Accountants will be held Friday and Saturday, Dec. 9 and 10 ~¢tion providing insurance insurance at the “training. City. Low, Low Price of Just - - - Model RP1170 549% COME IN FOR FREE DEMONSTRATION STEREO HI-FI GENERAL Only ELECTRIC PORTABLE Larson Studio 28 No. Ist East — Provo Ph. FR 3-3643 Newhouse Hotel in Salt Lake SAVE 30” ON VACUUM AND ATTACHMENTS Reg. 119.95 Model RP 1100 @ Two-Speaker Systems—each with 4 inch General Model RP1170 Electric Dynapower Speaker. ®@ Stereo Dual Amplifier. @ “EXPANDED STEREO”’— specia @ Diamond stylus speaker switching for thrilling stereo effect. @ 4-Speed Manual Turntable—plays stereo and @ Four 6)2-inch speakers @ High fidelity amplifier ‘ monaural records, @ Removable legs store in cabinet 4 ®@ Stereophonic Cartridge—with sapphire styli. Give the Gift that Means so much— A Lovely Portrait from... ance. Mr. Miner attended a meeting in Denver re“cently which. was conducted by a member of the Lifé Underwriter Training Council Staff which is an | BUY NOW! USE OUR CHRISTMAS LAY-AWAY COMPLETE Small Deposit Will Hold Your Purchase STEREO DELIVERY‘. CHRISTMAS EVE GENERAL ELECTRIC PHONOGRAPH SEARS' STEREOPHONIC ROEBUCK AND COg AUTOMA PORTABLE BY GENERAL ELECTRIC Zo. 88 $5 Down inelides 1\4- HP Cleaner ® Plays all records @ 2 GeneralElectric speakers © Fully automatic changer @ Compact and Lightweight (also available in Black with Silver Trim— Model RP1128) Power-Mate and Attachments aap acre wig Kenmore power does your cleaning quickly without a lot of effort on your part. It rolls easily on floors or the stands on end for stairs and narrow places. Tools travel along in storage tray. Add Power-mate Kenmore cleaner and get “upright” revolving brush action . . « Ul, at the wy Retail trade, which is expected to| continue as a strong bulwark among the sagging business indicators, showed American Stores up 5% (on higher earnings) and Associated Dry Goods up 4%. Mr. Miner, who is a MetropoliThe defense shares, highly touttan Insurance Consultant, has been ed by analysts 0 expect inactive in local life insurance for creased governments spending in this area, were all up with Martin many years. Qualified students may enroll rismg 3, General Dynamics 3% and Thiokol 3%. All were helped locally through. Mry; Miner, their by the success of space shots this general agents or managers, The : Central Utah Association includes week, all of Utah from Lehi south. Mr. dra nce ‘ TRUE STEREO. Prescription Center Holds Grand Opening $f] 29" Records... All Speeds... All Sizes picks up lint, pet hairs; threads. Lower goes under furniture better than upright. 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