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Show " The Stock Market By Harold Finley Chicago Tribune Writer You might like to pass on to your readers my easy rule for picking stocks wiuen are snowing good market action I hold no stocks which have not Remade a new all- - j Jit time high this f Salt ake FPC Concludes Oral Arguments Sri bunt' Protesting Natural Gas Increase ,( Dow-Jone- Investor confidence, still at a relatively low level, should increase greatly before the end of this bull market Even a modest improvement in sentiment would produce strong gains in stocks of medium-sizecompanies selling at five times eammgs despite adequate balance sheets nd good growth records. Patience Is Virtue Patience is a virtue for which investors are rewarded. That has been especially true during the last seven months, when stocks have been in a narrower range than in any similar period during the last 36 years. As far hack as February, 1966, the s industrial average was at the present level. I believe the adverse factors which have caused heavy selling to come into the market at this level on so many occasions during the last lOkjj years are slowly being 6 mately percent Mr. Finley below its e high, it would seem logical that a really good performer should be in new high ground. Especially during the last three or four months of the year, stocks near e their highs should act well because they are not Tut by selling either by investors seeking income tax losses or by tired holders who have long hoped to break even by selling at an old high. Major Investors Also, it is logical that a stock would not have surmounted all of hs old highs unless it had been bought aggressively. Such buying has probably been based on the belief by major investors that affairs of the Company are m a all-tim- all-tim- f i 1 - 4 formerly technical manager, will head Hercules plans for participating in a Mr. Moody new generation of Air Force strategic missiles. Of concern is Missile X a concept for a fixed or mobile-sit- e intercontinental ballistic missile. Missile X would be more powerful Gold Price Rises The price of gold surged higher in major European bullion markets Friday to take the value up $7 an ounce since Wednesdays big auction of the metal by the International Monetary Fund in Washington. LONDON (AP) In HriYf NEW YORK (UPU - Metal ortces ZURICH H8 50 UP 3 50 99 5 pet cent pi us NEW YORK Aluminum, Handy and Harman 119 50 up 5 IS pure 60 lb moots 48 00c lb NEW YORK (UPD - Markets at cent pore Engelhard Antimony domestic, 99 Texas bulk 158 OUc lb Laredo Base price tor reining settling and giance at me close on Friday Stocks Higher m heavy trading Coooer, oehvered U S uniaoricated gold 120 00 up 5 50 per troy electrolytic, Bonds Higher to oofke U S Government Bonds Hmner 00 123 Lead common, U S primary producers up Selling once fabricated gold active trading 24 S&25 00C ID U S 5 04 per troy ounce second American Stocks Higher In heavy 00c 25 to ary producers 99 9 per cent pure, boxed trading HANDY AND HARMAN SILVER Manganese London Stocks-Mtxand NEW YORK (UPIJ Handy regular 5? 00c t Cotton Futures Lower Ntrkel electrolytic cathodes, f o o Port Harman Friday pooled silver at $4 28 per Uoid Future Higher Coibome Qnt ?2Q0Oc lb ounce, up 0 S cent from Thursday WNeat closed Chicago Gram Future Pamum soft. 9V 5 tine producer-7S17PRECIOUS METALS off 6 to 9 cents cum oft fa to 7 00190 00 dealer approximate - New York Silver oats off 4 to 4 ? and soybeans off the NEW YORK $'65 futures closed Friday 330 to 360 points, oemnisstpie limit of 30 00 01 11 316 contracts i Cable Trane Steady to 50 cents 00 76 lb tlask higher $119 Ou'Cktftver SILVER FUTURES Y higher, top $36 00 Am Met Mkt Alloyer price Tm h m 403 2 Tungsten powder, H Red 988 per cent minimum pure, $10 15 nom lo 00c ft) 2mc, prime western U S 39 CHICAGO (UPD - Closing range of LONDON (UPD - Spd copper wie futures traded on the Chicago Mercantile bars closed the second session on the Mav Exchange Friday Metals Exchange Friday 1 pounds low er with buyers 824 and sellers 825 pounds per metric ton, forward 3 pounds lower 3 with buyers 856 and sellers 866 pounds Settlement prices on previous and close per ton Sales 10.350 tons POvhd Spot coooer tamuuc Nw York Ptotmum closed Friday DO 812 1 pounds with buyers ill and sellers to 130 oomts higher Sales 382 contracts per ton, forward pound lower with buy PLATINUM FUTURES ton 844 843 ano sellers pounds per e'S Law Oose Pmv High Sales 1,525 ton ton - (uPl Hoard of Trade pounds higher with buyers sellers 4530 pounds oer ton torwaro IS pounds higher with buyers 4645and sellers 4660 pounds per ton tons Sales Soot lead i pounds higher with buy r 2 4 75 POv ds e j aru Ion forward unchanged with buyers 285 and sellers 285 pounds per Ion Sales 900 tons Spot ime fa pound higher with buyers 405 and sellers 406 pounds per ton forward tixhang-- d With buvKS 42? and sellers 422 a pounds per ton Sales (NS tons with btvers unchanged Spot silver 245 uO and sellers 245 60 pence, 3 montns forward unchanged with buyers 253 00 and 7 months torward 253 20 pence unchanaed with buyers 24 50 and sell ers 265 j0 pence per troy ounce Sales 136 tots 5 pot tm 4525 and GOLD - Foreign NFW YORK (UPD Domestic gold prices Friday LON1X3N Morning fixing 116 85 uc 7 85 Afternoon fixing 119 50 up 5 50 D4P5 fmg m?rfciD 110 03 gp 2 67 FRANKFURT 11792 up 3 04 Uvotml ana 157 159 162 165 170 173 158 80 161 80 164 40 15 1640 17190 173 20 JO 70 90 90 1M 20 159 00 162 00 17000 168 i0 171 20 157 160 162 165 00 90 9C 90 00 20 173 20 ah sains hurvjreds QO) om ttd ect?Dt tor mo dostgrated (j wh-care haded n 10 share lots and c ur td m u'i DIVIDENDS are a irui uriitss onvrw se KJent fed Ml r'-- s (t) oad 'ast year on accumulated (f J CMvnfii di v tdi deoa'sd cr pad so tar fh s y ar no rgytar rati, cash annuai rate pius pus sro x S' k d id "id pid th s year --t a' $t a v a na 'v- - Meu pen m s'otx ifr ucrccm m rock pa d laf VI jr Iq m bankruptcy rei evirnp nr reorganization is) C m a' 3 str but on ( edtvOird tw when iwt warrants FRACTIONS M) tnd ah fotow frarheo m 32nd, (i og fgjrp inditaes toi ow ng hgufe is trachcn m (r toiiowmg f gure s 'ucon n VShths (si onow ng fgurP S traction if l?fcths if) md c es M owing ( gore is na.t on n it ms Lnwr-aso appearing m of he c'nsmg price md cates that once w is on another stick enrhancm (hi FWt rn (cl C oc rm ih (d)Dtrc rhang c J Mirtwt Ipi Daev 'g NAS he nvi-- r the saunter market DAQ reported bv the Nat onal Assoctahgn k o SKur ti s Dna'fS Inst m the b xx trad'ng ssem used by 8 4 50g Sates n e Sis 3 Aetnatf . AetnaU Pf 2 5. AlbertoC J6 8 OB 13 72 9 Atbertsn Alcan Al 40 82 7 AlieaCp 60d 24 60 7 20H 16H Ahg Pw Ufa 33 Ailtd Ch 80 9 Jan tion NLW VOPK 400 Cl. Chf x!642 33'x 25 12 36 836 33 195 297 29; 'a fa 50 6 b26 1- - fa Closing range of traded on the Chicago Grain (U rv (11 12 10 JPrince ( SoStand 3 StMetal Teletrans TinticMm 1 00 350 11 2 92 2 83 2 90 16 16 12 2 4,500 at 40 and 500 75 i 97'-- 31M 12 !3 100 16 10 01 500 62 at 4! 297 2 9 n 7?4 J9 182 75 80 173 I 6 63 6 6 6.76 6 7Ev4 6 6 6 76 76 6 76 701 699 695 SOYBEAN OIL 23 25 2375 Sco Is 25 23 30 23 55 23 s5 23 60 23 70 23 60 23 55 23 70 n to 22 75 22 70 731 MEAL 18800 195 22 22 22 22 22 22 22 22 20 22 33 22 51 22 55 179 180 184 184 185 179 180 184 84 185 50 50 00 50 00 78lx 76 29 33 51 55 70 75 70 It 25 MIT ADS Oia! poRsa 521-353- 5 r Esmark J Exxon 2 I c9 67- 2? 24 w 15 4 36- 13 u. j I0fa 5fa 3ft 59 10 27 46 4 )) 4 ,Sto-y Index k 5 kfa 4h mde.es for Friday 400 70 4C 2b 32 40 1 7?fa i H H HaitSMx 60 HeclaMm 2i Heim H 62 Hercules 80 neubhn 20 Hewitt P 30 Hoi Irms 40 1 lnlndStt 2o0 66 Interco IBM Corp 9 41 38 221 2? 57 22 8 t 54 23 134 104 7 31 ? 24 4 32 ? 96 2 24 ivfa 50 10 70 25 10 75 18 365 15 276 33 47) 10 543 3U PlMsbrv Pitney B Pofarotd 68 7 18! 60 70 4710 21 23 70 13fa 5 10 10 90 7 Fleming 68 24 13 23 14 InT Q, jgc'G- - 194 30 uDfa Pi? 13 15 r 23 49 16 18 33 76 23 a X X) 15 Ul2 4 41 9 Rotjshaw 90 2ft 9 RochG RotkwIMn 2 RkimH 38 RovaiCC RovID I 8od Ryder Svst 15 26 4 u no 4 21 80 35 ? p43 I9i 9 U U 2' iv 17 9 7 79 49 16 22 9 5 . 59 60 4 6 li)n 4 OAl me 0a JO DART O 60 UCamp UnCarb 2 id union Corp 1 10 7 13 33 10 992 25 30 64 64 I? 14 10 7 19 4 73 82 4 12fa r 12 5U5 1110 1209 IntHa-70 11 528 lm Paper 2 11 787 60 10 2331 Int T4T H Comrtn 32 ITELCo 20 6 - 19 fa 31 69 33 16 fa fa 12 JeHPiigt Jewel C JonnMv JonnA ihn JorLogn JovMtg 18 5 79i 371 90 108 92 14,- p47 j NFW YORK (UPD - 2 pm foreign exchange rates m dollars Fndav Thursday 10259 Canada Free Dollar 4U 9n 317 2 56 43 4j4 15 Paraguay Guarani Peru Sol i UrucKiav Vetwzueia 2 29 Pso Boivar J4fa Egypt Pound Iran Riel lraq D Turkey Lira 33 37 ? 12fa 9995 1530 0261 1676 1- - 7?5 .c , p- rmr include markuo. YORK Mures closed fee boom on Certillcefed soot wool Htl Low Oct OC ISC C Wominel Pi Dose 171 0B 175 175 0B 0B 171 Oft 175 0B 175 OH le Bar IIV Clearings Thursdays debits unchanged Same day last year Week S Clearings Same wev. iaf year Same day (asr year sdtts Same week last Weak year Todv sciearmos HV'457 '20 II 22,609 14V 00 00 S775 320 9S3 0Q $636,531 932 00 $126 656,593 43 $4(4,400 457 46 $596 854 695 18 $605,138 238 40 a t7 ? qlOfa 25a. 23 3 Iy? 4 014 Vfa 15a. U 20. 18m 49 D White Mutor Whi Hakr Co 15 WrnnDx yb 12 70 8 Woolwh XY2 ' A 12 ZaieCo- r- ft Zayre Coip HitthRad ! 16 3 4 fa 27 4 3r 2U . 48 4 fai 2 1047 0322 0145 l" Ofiff V, 20 pi0 . 45 24- n 6 6 3791 79 492 ' P6 7 jft 24 2474 P66 764 nil 16 6 PUTNAM FUNDS 11 (.Oliver Ratnbw n -- pV Revei a Satec '" 19 74 2! 45 9 33 10 04 6 77 7 J6 ai r i UDDER Int! Fnd Eaianc 4 3 3 74 Stv L 6 07 5 54 9 27 10 97 g ;r tqG Sah-r- N 4 V 1 F FOS SC 4 33 3 42 fa 55 48 in jv m Fnuity 12 91 N 4 94 N V 68 N Com L L L 0!49 2307 4U46 4UJI 004? om 0410 OAO' 0080 0157, 2 2335 257 inclp 0145 7 55 8 9 US 9 89 Gvtv USLIFE FUNDS. r Aut j 9i 4 3 25 Mass 0fr3C MASS MIT 1H5 0024 m NAT SEC Bond Sr Dwtdn P ref Stk Imr nm Sr Stixk Grwth U6 OPPFNMM A m td Fnd Op F T me Of commission VALUE Val Val Spc VANCE lv 37 12 26 11 Baianc 0035 025 Quotations NASD 4 iiimU I $ O' win lixom KEYSTONE. 242 0630 u'5 4, 0L'2 NEAR EAST 257 I 1530, 0261 1676 50j IflVl iXHS 015 J 2680 23 40 4 Stock Select Var Pay FOS 9 S3 10 4 55 4 91 3 06 4 27 708 7 520 5 6) 8 6 37 fa FD n ft h 61 7 14 PRICE ROWE 5 57 pro Fd SIP Prod lu 32 ly) ' L 11 28 mkraH Or P xt CuttWM OfaYtm 2t 7 O D 25 iv ? 28 40 90 OweoCrrb F P 9 32fa 8 8 8 Ufa 13 27 55fa1 . merinu Stock Piavtk 3 Atktchtd wt 2fa beveny Ent ID 13 Btasfen 0 2 Castieton in 8 i 5 . Circle K 42 19 j S3 - Cnleman ft ? 5 ? DavMn I0h 2 s Dvnaiert 06 3 Dynamic A 7 1 EDO Cor cm 1 Fa'hior hb 6 4 a Fed Revwr 20 Ufa Flyng Uiam A&E 5 10 13 70 ivifat VS Com 6 21 8 15 Katierln 6 in HuMvOl lee fa 4 23 s )4fa 9 Air 4 r UAi 3 2 In X Cont (I V Ind wK Wat 3s Ca rfi 3m ic load b J 80 5 26 8 52 )0 Ent TV Cp wts PacNW l V ftsc mki me 50o Svntex Unv 5 16 C Kvcliaiiito 7 t n J 12 04 13 16 10 21 11 8 9 5 10 46 10 .0 11 15 6 6 8? dividend (rrt ( jwf 45 . Gultstrm id p2 07 GRP J Fmnher ? 4 97 7 90 81 7 73 6 17 J5 18 96 14 61 15 4v 8 22 8 98 )! 65 I? Ived Moron 5' fare 1 17 7 3 83 723 7 Wstmn W tHlsr Wai'St At mg NL no i 36 s 24 SANDERS. Incum Weis'v Wehn 18 fds 5 01 48 i SMI 730 N line VANGUARD c xptor 1st Indx n 8 0 5 91 FD PIONEER H 89 IS Rton Pd IUPI) - Gnus wool Friday uncIwnoKl acrs fee New York Colton Echnoe fa J6l - 20 12 173 fa 9 1IS5 W W 10 169 Walgreen WstnArL 40 15 Ifa 8 203 WsBaiK 40 10 233 WUmon Wosth El 97 8 348 W vrhas 80 25 h?) 80 13 409 WhrlPTOl D 02 N L ThrtH (UPt 22 29 24 36 Fohowng Trend a list of bid and FINANCIAL on asked prices PROGRAMS FuihJ Mutual as Fin Quoted by the NASD Fin Inc Fin Grth Friday 17 1976 September Grwth INVEST GROUP 05' ounoi 1 001 FAR EAST P70 India Rupee 00?4 Indonesia Rjpiah 2060 fa Hong Kong M K Donar 0034 fa Jacn Yon 1025 fa Pah stan Rupee fa Ph- pomes P am rvTAsnMtive - markdown 'c'dcaternfairic,an3Cth ' or Iho 1? 9 v Varian . Va Flee YUKKJ 250Cj 3831 j 6 1 2N 7aJ5 rj Savi-l- 15 23 15 17A i1'' m u9)fa 73751 73 I 0323 Portugal Escudo 0149 Spain Peseta 2309 Sweden Krona 4C40 Switzerland Franc 4UJI West Germany Mark LATIN AMERICA Owl Ergentma Peso OW B'azil Free Cnjzeiro Cotomtia Free Peso wo Ecuaoor Sucre 0509 MxtCO Peso fa cl4 12 I 26 pf V )? Miiluul NfcW 19i 42 uvin 24 n 8fa 30 23 11 30 9 40 10 27 SO 5 10 12 K K fa pS I J J Jantzen japFnd 91d - 8 Co 29 b Singer 40 25 24 r Singer pf 3 W 24 SkaogLO SO 12 IQ0 22 ? 68 7 441 72fa 18 S CalEd 16 4 13 40 9 1374 SoumCo a 38 30 35 SoPacif 7 24 9 135 624 50 So Rail 2 32 10 374 21 26 Souttnod SO 17 46 13w 1U SowstPS 98 9 417 49 10 9 SpetryHut 12 1817 38 Sp Rand 85 6 El Sprague 90 15 509 28 r Souitm St Bnd 37 28 13 862 29,StdUCal 2 20 8 1199 pi7 54 40 StOlind 2 30 9 8 3 CS4 TV 36 20 34 61 . StCHOh 44 9 4)7 48 1 4) fa Stauffer 21 70 2 fa 15 SterlDrg 16 34 4 23 96 8 StewWn xJ2 45 45 4 37 4 StudeW 32 7 520 3V 43 26 x Sun Co fa 6 42 3) SunCoot 2 4 x5J9 4U 4 204 )7 148 Sue OH to 26 45 78 PYA4 42 284 Wool Market NEW Mar 78 u40 7 '4i 46 45 OutFridoy's 192 20 193 194 20 i 47 4 llu (.oiuiler 1880 wj" 61 J8tW, lyArtjpav -- 7 68 187 A' (9r Extra large zteiiyered stwiHJUOf) - T T Tsrv'y Corn T.Hhncoiur u?7w fa Securities on Rep Manhel Lujan Tony Anaya before i y cui factions iiS, K 9 2JI z 12 16 M p38 10 2175 Mtg SB 28 Find Firstne 9 23n 6,106 632 J6J 5mh 15 te. mus 33 4ft md F FairmtF 1 50i 15 10 Fberoe 4)12 Fa rah 5 166449 6G65 EatnCp ElPasC EltraCP fcnvirtc EthvICp Ufa CHICAGO (UPl USDA) Prices paid Frtday 25 92 stoie 93 score 9a (kV unchanged 25 90 score onestabliswd 94 to Chicago delivered PW Prices Foos medium hjjr England Pound 30 day futures Poind Gfa - j Puuhw X Oaustrana Dollar Austria St hilling New Zealand Dollar South Africa Rand Belgium Franc Denmark Krone fa France Franc Com fa Holland Gueder (taiy Lira (Com) 10 4 657 23 2787 1 80 12 62 10 6 430 16 8 46 12 ?6 7 Ifa 6 l60g Eastern Air East 156a F $175,171 . 4 5 YEAR Prices to iwtaifar 17 30 29 50 Dairy Market v.;s ii 35 EE E Svst t rtoHaml-TH- Withdrawals Deposits Cash balance Public oeot internal Revenue were $Ai3 21 fa 4 80 29 3 16 Withdrawals WASHINGTON (UPD and dewsits In Treasury accounts for the fiscal year through Sept 15 (rounded to tta nearast miion O D Dana Cp 84 Dart In A4g DavPLt I 66 2 20 Dnere Wfa Dennison 19fa 27 v 17 51 fa 31 not Treat-air- 21 liHU 6 6 979k 6 98 4 delicto II 20 44 22 35 23 33 23 51 23 55 23 70 00B 50 00 80 0B 69' M 045 Il7fa 059 t 689 Butter market to Oucagc v3 4 6fe 3l.X ta (to. 185. GO 76. 11 3 6 fa fa 910 fa 43 rr 500 40 44 72 78 1814 6tf5 6695 6 97 1 2 75'1 73 6 63 6 76 690 690 IM' 67 40 66 5 297 160 20 t 2 91 2 96 12 37 312 19) 311 rt1 Tms Uhls Fnci Stks 118 47 14 31 51 01 1203 105 78 D8 39 14 27 50 99 1201 105 70 08 78 14 31 51 I3J204 IQ6&4 34 Chessie 2 10 7 SBC 36fa fa' 106 4fa Chris CraH fa p6 1&H Chrvsir 15d 161813 P V Cm Gas 64 13 356 19fa fa 243 fa 36 28H CIT Flh 2 20 96 II 2045 c34 27fa C'ticom fa 38 fa Of Serv 2 80 8 135 54 7 OtY nv 66 9 178 x'frfa- - fa 77 CocaCol 2 65 20 310 88 15 608 23 Colgate 137 22fa Coi Gas 2 14 4 118 4 J Cc4 Pictures 26 1 CmwEd 2 40 10 1473 1 112 23fa Comm Sat 4 Comoutr Sci 11 194 1 60 15 ConEd 3 3H 15 2M Consl-10 128 18 j Con Frgt MO 24 8 ConsNG 2 24 . 19 Consm Pw 2 7 2T) P22 386 7fa 5 4 UmttAir Lin 33 Cortntal OH 571 1? u CantTl 17 Contrl Data 10 781 43 !2a 21 285 OrnG 28fa Co Brd 55 12 85 2 Crane C 20 5 52 35 Crown? 1 80 12 179 10 CurttssW 60 9 72 I 22W CurtissWA 2 bfa 2??. 299 167 173 - 337 3.42'k 294H 301 2 96 g 3 02"i 7 . !64 j 160 6 74 5 196 10 891 283 290 ? 94 296 3004 30i 3 025 3 02 2 95a 2 96 n 5CO 4 36 319. - 18 UtWvoCns WestGeo WoriCom at 2 U.S. 4 01 UnPkCty UtahCons IOC 2 93 29C 290 2 97' OATS 1641 Sen I 73 Dec Mar 18? May 79H Jiv SOYBEANS Jy 35 20 16 U&Mnc Justneim 29?' SOYBEAN tti 00 0 WOO 189 SO Oct Dec 192 50 9'; 00 Jan WOO WJT) Mar 194 (JO 19Q a) May 194 SO Ask 07 Bid ParkPrem 2 3J3 n 75 ! tursiano. 332 Standard 4 Pour s 347 9 89 10 117 9fa 225 73fa 8 8 73 37 40 16 25 Oneret U DetFdis 1 45 U 433 42 23 Oanxjinb 2 8 19 tOfa Diefauid 15 U 11 43 63 47fa DShPY !2g 2 17fa 11 DrPeppr 40 21 181 4Sfa 33 'i DonieM Mid 13 88 43 Dowthem I 13 1983 IB 3 Dresser 47 80 11 545 161125 lOuPont Tjd 13 551 4 63 & duPn pf 4 j 49 4 duPn pf 3 3 7? 9 197 19 17 DuqneL -26 41 342 30 18 31 I )?fa 342 10 0 o' 181 4 13 630 979 64 10 80 13 t 2efa V3 3W- fa fa I 49 Ask 000 at 07 4 J7fa 39fa Friday's Quotations 2 55 80 3 07 26 52 39 -- 0 S7 3D 3D 3D I 3?fa 37H 27fa fniermoiinlain Slock c 4 5y t fvrT-ll'- 20 9fa 40fa Frhnoe 04 40fa 9fa 2?fa 27 29 25 Market ChVlthH.SOOuat pm 11 KANSAS 6d am Noon 1 - 3 22V 3 28 548 065 Poor! 500 X (UPD Indus 11 31 fa 8 20 3 37 2188) 97 97 97 97 20 218 24 2i8 89 W Standard Tfa 332 4J ?8 9701 33 Ten Leading Shwks 32? 3 02 311 3.72 3 28 P 218 m, Sites nosing prices and m t changt YOK fAPi jcti vi stuck trjdnnonm Nw York Slock E .change 4 pm Friday Nf per bag 301 310 2?' 83 TOfa 37 20 63 3 07' 3 20' s 3 32 3 37 V 4 Net chg Jan 3 07 a 3 20 71 69 35 10 60 k 4 Pl7fa 991 992 993 995 993 pm pm om 4 fa 27fa Pet ctig 26fa Sen Dec Mar May Jiy CORN Sep Dec Mar May Jlv XV a m Noon 11 High Oi - 4 18 43 100 fa 28 858 Mountain Fuel Supply Co , made its presentation at the afternoon session and they too protested the opinion Issued July 27 Field Ihroducers Because of purchases which Wouu tain Fuel makes from field producers m the states of Utah Wyoming and Colorado, as well a the effect of triggering favored nation clauses, prae tically all of Mountain Fuel gas pun liases are af lei ted by the new nationwide 'rate," said Mr Campbell That rale will require Mountain Fuel to pay to field producers an lilt reused cost exceeding $23 million per year for the same quantity of natural gas now being purchased " He said the increased purchase gas costs of 63,iHKi per day for the jci iod between July 27 and Sepl. 1. Kki7, wete costs which Mountain Fuel may never be able to recover m its rates This loss would amount to no less than $2,275.1)00, he said Opinion 770 should be overturned and set aside. Mr Campbell said in conclusion, ' and the commission should take additional evidence and comments on the questions of area z nationwide rates or the broader and more relev ant question of permitting natural gas to be sold at market price in interstate commerce If the aim of opinion 779 is to stimulate new drilling, additional gas resorvos and new dedications to interstate sales, the sale of natural gas at market price so that it can compote with interstate sales and alternate sources of fuel is the answer." UfaPhllaFI 49 : phlipnl 17 64i 2fa 23 28 14 98197 311 3 31 IUPI USDA) livmlorK 91I U Hjjj fiQ0 fcvrroy; mostly 00 higher in active trading U S 3 lbs 2 40 25 US lb 39 Sows mostly SO certs lower 3 boars CHICAGO (UPD lbs 31 US Cash gram 25 over 250 lbs 25 Wheal up 1. No 2 soft red 2 88 yN No cattle or sheep report torn oh 5 No 2 yellow 2 8 ?N Cattle No 2 extra heavy Monday s advance estimates Oats unchanged, 1,300, hogs 2 500 sheep 200 white 46 N I yellow 6 46faN 5 No off Soybeans Trayete--s Fcreig" rhtvayo hgn rale NCW YORK (LPD Travelers foreign Barley malting 2 50 3.50N, feed 150exchange price equivalent to estimated 2 OON N Nominal U S dollars as Quoted at j pm Friday Est Rate Country Curraacv Canada (do(iar) Beioium (franc) Denmark (krone) CHICAGO (UPD - wheal, cat anc England (pound! Trance (franc) soybeans wete substantially lower anc at the dost lower corn irregularly (mark) (Wmany Friday on the Chicago Board of Trade Greece (drachma) Wheat was oh 6 3 to 9 4 cents, corn Holland (guilder) oft v to 7. oats off 4 4 to 5 j. anc Italy (lira) ot 20 soybeans oft the oanrusstwe limitcorn Portugal (escudo) anc in Commercial Spam (peseta) to harvesting presSwitzerland (franc) soybeans attributed of ft weekend dominated tht need a sure (pound) Egvpt attituoe n both commodities Israel (pound) SmoCw!W neavy Wheat was unuer Argentina (peso) whh spread lo other iiQuioation Brarii (cruwro) Wheat also was Influenced commodities Colombia (peso) by declines in com and bears Mexico (peso) The outside markets wete lower Venezuela (bolivar) 7 15 0 771 06 36054 2 95 FUTURES COPPER NFW YORK (UPD - Copue' futures Prmav emsed 40 to 60 points higher on CHICAGO (UPD me New York Commodity Exchange Sales keo Broilers futures were estimated at 4,i?8 contract Hoard ot 995 218 97 62 10 53 39 Low Bonds Bonds Pub Utils 10 Indus 767,400. 300 4.104 Apr Jly $ Ortj 00 B had the world in my hands 1 20 10 Chg Transactions m stocks used in averages 200 TransportaFriday industrials I 12 19 30 D Oct 996 217 96 3P9 r 7U Uhls Stks On Low High 992 35 1000 50 218 98 03 96 98 3)112 313 92 Tms 20 15 65 - A A 22 36 23'i COINS Open Wyoming. After the Ltahns testified, Commissioner Janies Watt, of Wyoming, praised the Ut di commission and Gov. Hampton, whom he said had been oil the handling of the visionary electric rate problem He told Mr Lambert, a former member of the Utah Public Seiviie Commission, they had done an outstanding job in cutout aging industry to come to the state but I dropped it before I could New Mexico had Jr., ami Atty Gen. make the throw to first base. the commission Yierae e 1 Fuel Supply Co has already been granted more than $23 million in rate increases in Utah and Mountain uvi - contracts NEW YORK SILVER The energy administrator said he's spending most of his time preparmg for the new oil stockpile, in which the government will purchase and store up to 1 billion barrels of oil By the end of next year, the FEA will have the first 130 million barrels stored, enough to last 60 days in case of an embargo. YORK (UPD ranoe of averages NFW closing Stacks 30 nos era ut'Onv Hi Lw Stk Diy Friday high-deman- Dow-Jon- petition foi rehearing." Mr Davis told the commission the size of the increase is shocking to the and urged them to people of Utah reconsider and see if they could torrent the situtation. viz-a-vi- n 11 IhSOr Gas Prices to Dip? Zarb continued wuh his bright outlook on gasoline prices. Already they d are softening from the summer months, he said. "I would say that by January the price would be down 2 to 3 cents a gallon from current levels. New York Slock Exchange: Final Quotations 34 New York Silver Coins closed 34 points higher across the board "I don't think an increase m OPEC prieos ig required to contmu that momentum toward conservation and efficiency, he said. Frozen Since December Already OPEC countries have given private Indications that the cartel price may have to be increased again, high officials said. It has been frozen since last December. Zarb said he realized his prediction 'Taes in the face of other opinions. I dont think OPEC believes its best interests are served by taking action to damage the economic recovery, create more inflation, and cause an adverse impact on the less developed countries of the world, Zarb added. He emphasized he had no inside information on what OPEC might do. He added, as others who have tried to forecast OPEC prices do, that it's tough to predict" OPEC action with so many clashing voices within the cartel. Market too cars energy-efficie- 1977. Early concepts of Missile X deployment have envisioned reactivated missiles borne in large aircraft. If they were to be fired, they would be released by parachute. When they reached an upright position after release, ignition would occur. Mr. Moody has had long involvement m management and in missile motor and missile technology. Mr. Moody, - Federal Energy Administrator Frank Zarb has said that chances are fairly good the Arab countries will forego another price increase when they meet in December. My own judgment is that moderate forces in OPEC (Organization of Petroleum Exporting Countries) ... will continue to prevail," he said in an interview. Zarbs opinion clashed with that of some top Ford administration energy and economic officials who say privately that the oil producers will post a price increase of 10 percent or more for e The reacti- i 5 Chicago Tribune Writer WASHINGTON than the three-stagMinuteman, now the mainstay of the nations fixed site missiles. - Saudi Arabia, whkh holds by far the largest reserves of oil m the Middle East, has been the greatest opponent of price increases Now, however, other cartel members, notably Venezuela and several small Middle Eastern countries, want more revenue. Zarb, who visited the Middle East last summer, said that "a number of statesmen in that area believe the world is now being pushed toward more efficient use of energy and any precipitous action on prices would damage the world economy." In the United State, he said, industries arc cutting their use of oil and the automobile industry, through governmental pressure, is building more By Bill Neikirk Despite definite indications of improvement, investor confidence returns slowly. I predict the number of stocks making new all time highs will increase greatly during the next year. Special to The Tribune Hercules, Inc., Friday announced appointment of George H Moody as its Air Force programs manager. I'Jffe 7 U.S. Energy Chief Doubts OPEC Gas Price Hike Dow-Jone- vated post is addressed to responding to the renewal of Air Force programs. s Section C Hercules Resumes Post EACCHUS t Saturday Morning, f September 18, 197b d age approx f Finance Market Mine - highs. aver of the Department of Business Regulation, and G Blaine Davis, assistant attorney general, who is assumed to the Division of Public I tilities General Counsel Mountain Fuel Supply Co . which operates in I tah, Wyoming and Colorado, was represented by Ray Crouss-mun- , its general counsel, Robert S Campbell Jr . of Salt Lake City, special counsel and James Broadstone, MFSs Washington attorney. Mr. Lambert appeared for Gov Calvin L Rampton. who originally planned to personally present the position of the state. He said I tah takes the position that these proceedings are defective under the US Constitution and this commissions enabling legislation He complained of the commission's immediate effective date of the order and pointed out Utah gas consumers w ere not the only ones hurt by it Mr Lambert appealed for a rehearing and noted it was the congressional intent on passing the Natural Gas Act that the public would receive its fuel supply at the lowest possible reasonable rate consistent with the maintenance of adequate serv ice. Drastic Impact In view of the drastic impact on Utah consumers, as well as interference with the states orderly administrative and judicial procedures, said I submit that opinion Mr. Lambert, 770 as it now lands does not square Tribune Washington Bureau WASHINGTON The Federal Power Commission com Hided two day s of oral arguments Fridaj on strong protests from several states, including I'tah, or its July 27 order increasing the nationwide ceiling rates for natural gas sold by producers in interstate commerce. There were 7 hours and 40 minutes of oral arguments on the application for rehearing the commission's July opinion setting new ceilings on natural gas prices, Utah state government was represented by Eugene S. Lambert, execu- - all-tim- s Dow-Jone- "Business intent and 1 strongly urge this commission to grant with the congressional tne director By Frank Hewlett favorable trend Despite the validity of this thinking, I would emphasize that many other stocks are also likely to do well. Stocks of medium and lower quality have not s indusperformed as well as trials As a group they are much more than 6 percent below their e year. This is an teresting com ment which has some merit. With industrial - 0 H, Should Good Performer Stay in New High Area? the y V 3 6 22 v 15 'Si-26- piS 4. Tfa Ifa. 9 9 S 12 765 g?5 3 9 12 15 9 j 7 6 7 i;- |
