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Show i ! Judge Extends Restraint In KCC Proxy Battle I : i i By s t a A ! t I I i i i 1 f e over'' , law That law, passed by the 1977 legisla ture, requires 20 days adance notice of any firm or individual seeking to acquire 5 percent or more interest of a company with a major business pres$25 million or more in assets, or ence more than 500 employ ees in Utah Kenneeott had urged the laws passage It was about to be ennchd with the proceeds of the $1.2 billion divestiture sale of Peabody Coal Co With Its stock prices low it was considered a rqe take-- er target v It subsoquently acquired the Carborundum Co. with part of the process at a cost of $570 million Curtiss-Wrigh- t has since announced its intention to get proxy control of Kenneeott and sell Carborundum for tin- - "lienefit of stockholders t the same time, Curtis- - Wright denies it has violated Utah law or that it - subject to Utah's jurisdiction Judge Winder said he could take two actions Monday main. Issue a preliminary injunction against Curtiss-Wrigh- t or rule against the state's action The temporary restraining order from voting its prohibits Curtiss-Wrig-- hares of KCC stock, from soliciting proxies, from purchasing any more shares, and from otheiwise dealing w li h shares of KCC stock The judge Thursday removed the last restraint from his extension. Judge Winder said he had doubts about the constitutionality of the Utah law and extending Utahs jurisdiction ht Curtiss-Wrigh- t. However, he asked both parties to submit briefs dealing on the matter of constitutionality of the Utah law, and the findings and circumstances involving a federal court finding against the Idaho "takeover law which is 'iow on - TOKYO (AP) The US dollar climbed one yen Thursday from its record low against tlx Japanese ven, but beuv dollar selling w as oxpivted m month end business account settlements Fndav The dollar had a slight boost from the Bank of Japan late m the day but it wasn't known how much the central hank bought Some traders complained that purchases estimated at a total of $5 3 billion by the Bank of Japan this month causixl much of the disruption in the market, giving exporters a good excuse for selling the U.S. currency, which was at just ov er 230 yen last week 00, dealer approx ounce No. heavy melt pe' vet. pr,ce orv Am . 00 STB N Tin, 45 ? i c to J210.OQ-22- to; cents Cemex Board of scrap - Plttvl Mel Mfct composite scrap) per ton Am Met Mkt price iir NY Am Met Mkt Move' r id Tungsten powder t H Rd), 908 mtrt,mjm pure $ 3 90 per to I rv. pome western, U S. 294)0 per cent c to. ONOON (UPI) Spot copper wire on the the second bar session coad Metals Exchange Thursday L'yor YORK (Upl) - Foreign and NE 703 5 and pr r s higher with buyers mestic gold poce Thursoav s 704-- j pounds per metric ton. for LONDON ward lji pounds higher with buyers Morning fixing 179 40 down 2 00 tto t and sellers 719 pounds per ton 17 75 down 1A5 Apr May Aug Sep Oct Nov Afternoon fixing PARIS (tree market) 18) 03 down 4 02 180 16 down 2.62 FRANKFURT Jan ZURIO' 179 375 down i 00 Mar NEW YORK 179,05 down 145 Handy and Harman, Apr Engelhard Base once for refining ettiinq and Jun 65 per troy Jty goto 180 25 oown ounce Aug Oct Selling price, fabricated gold down 169 pec troy ourwe Or 13,600 tons copper cathodes 13 pounds higher buyers 6to and sellers 695 pounds ton, forward 13 pounds higher with TOO 5 and sellers 709 to pounds txjyers wr ton Sa es 100 tons Snot tm 55 pounds higher whh buyers 5ift and sellers 5870 pounds per ton, for wat d 55 ooundr higher with buyers 50 70 and sellers 30 75 pounds per ton. Sales Saie wii Market I Do- HANOY AND HARMAN SILVE NEW YORK (UPU Handy ana Har man Thursday Quoted silver at SS 327 per ounce, up OJ cent from Wednesday kwho. eastern Nevada teedlof and ranop sales report for Thursday, March 4 federal State Trade stow Demand Most buyers have pulled oft the PftCCIOUS METALS Very bearnh attitude prevails NEW YORK (UPI) - New Vnrk Silver Citot.rmed sales moetty steady te tHfotores closed Thursday 4p to wo powits s advance but sold tote Tuesday and' tpwer KMW) contracts early Wednesday and may not reflect !fy SILVER Moaf catttejCamn current market conditions ds per trgy on MM key oteMo mud dock no longw a farfor. Prev Omm High Law Ctoae S324C yUiighter steers Good end moetty choice Apr S31QO0 531OOS2SSO571OO FC ii, Apr Jun From Perk Mhas 2 53 305-h25t- 534 00 541 00 549 00 2 30 Good and moattyjity daughter heifers lb 50 0051 00 rtkwe? ytougnw rnws High utility and com rme kU L4 4 00 wto mixeo hmtert and herfemttes com mnr iai good and choice 45 00 Wool In Idaho upwards of 7200 fleeces led su'd mostty grade 56 'W n. 5 veav FOB One tot 53 clean FOB and one to c lean delivered. S6MM 574 00 V2S0 00 599 40B 612 106 616 206 rf 536 80 544 50 552 70 564 V 560 30 575 50 566Q0 630 536 545 559 564 572 90. 591 601 80 S34 50 60 542 20 550 10 00 562 30 50 566 40 10 574 80 3L0M ttK; cents per 70 590 60 600 30 612 90 617 20 732,440 off 272 70 6i4 60 616 90 Open interest (UPI) and on previous Settlement prices Feeder cattto 5,000; trade ctoxe Thursday uneven, cattle mostly steady Nr'fL' steers under 500 tos. nert fully Fee tots mostly choice Sliver CHICAGO Mures (UPU 00, part toads rather thin cfoaed Thijrsday 10 to 300 points higher tos 54 00 CHICAGO SILVER fleshed W moderately 6UOTQO lbs 5300700. part toads Trade 5,460 trey m; cts eer tm ez ty 10 tos 50 fteed Prev. Open Mitfi Lew OeM tow lots 930 ,000 tos moderetelv fleshed 49 A 50 00, several sales mos? ard fleshy riTY, Pork Belhes JiJOO tbs; cents per A9J0 e9 50 May JW Russet Apr May 5en0$320 991 Frozen lb tb Mar Potatoes 70 60 60 30 66 10 69 50 67 90 67 90A 67 ViN 68 00 60 00N K m 69 62 69 2S 67 50 68 0C ' tt thin and 7 70N 7 70N chore iJ-4- III ("atfl n mnrVl a 200 Hogs pi - Livmfo (UPI) sales Inwff k lent S cents 00 Kwer 3 .'aw lbs 40047 60 No 2 H V i mi Nf 250 2T) tos r Ofly mf.fTvitefl receipts , ro 03' Kc fo4 (Mft2 45 a6'5 m ( A W A I);iir Market Prirtri. NEW YORK lit at ft 150 004 1h 44H S6M 57 4 2 09 36 to 32 3 207 44 207 20 W44 7 0 29 04 i0 105 82 267 52 .S. (r;iin (UPU hKpwr 26 WhiMf were I it 0246 kM 032 150 0 'nOP 0 C1 C26 53:0 xJu 5$ 5425 C2s3 rna-iir- 824 4941 6 7 7 1 9 y 8t Fsmsrt 04 GAP Honywl Hoover Horizon HouseF HowardJ Humana Mondale repeated the councils the find- ing that the new mine workers contract would increase coal prices only $4 a ton life of the pact. ov er the three-yea- r It is obvious the price of coal has an effect on prices of steel, Mondale said. Rut, he added, the ($10.50) steel price hike gix's far beyond the coal increases. of $5.50 a ton 5 47 1? 30 s 6 1)50 7 960 4 043 7 134 7 11 8 4 78 5Vy 31 36 71 20 20 D 290 46 434 45 19 153 31 33, 29to 29 10 15! 24 Macy Mad Fd MrtenO Manott 7 m 4?to 17 35, 2' . 320 09? 55s. F 40 I K) 27 r w 9 00 7 2 3 9 h V s 993 K 2 CP 60 t G h Artlnd Aile, Ardmav (irain 6 a Brwngco i v.ntnI'Bfc DynAm t ov' F'jlrto j FstsecPtd FstWttFnc 11 10 6 80 11 V 6 7C 1 U 42 114 25W i 9' 39 to Nabts, N Ni Nfl i G 2 0 23to 7 3Cr, SPto r79to 435 !7to 241 13 55 2 123 J 43? J7to . 71 Uto 22 19, 13to 77 M M 79 14 , 2?9 2D? 59 40 101 6 27 14 14 ft , 3? 76 ?5 2 101 Uto 33to 30to 42to p44to 2Dto 3to- 10to l?to 18to 26s 19'7 25to - SimpPat Ask 56 9 29 34' Tito 70to C'4 30to 20, teto 7 SingerCo Smgerpf 3to SkaggCo 70 SonvCp 05d SoTlEd 2 24 SouthCol-5- 19 36- p237to ft u37to Uto P26-- i2- p!7to W , P51to 26to45 ft Bmd StdOCaf SfOlInd StOilOh Stauffer StertOrg Stewwn Sun Co 2 52 5 21 - to- ITk 1?, 27to 18to 31 to 20 32M Slto 12to ft 25 151514 II 20 - 17to p19 r37 p37to 17to g22 6to p7to Tito b25to 15to )6to 31 to p3)to 45 4Sto 23 20to 4 - - 9i 50 49', 31 17 1?to 28to 0 YORK ,1 asked Mutual quoted and' bv on Funds as the NASD Inc Thursday JO, March 1978 Bid Am Am Am A Iv Geni Grm Imte Invst Ask Group 6 26 5 27 N I 12 43 N L 304 3 4 67 510 5 81 4 8? 40 24 to to Va Etec to Wafom to WstnArL Wsfianc to WOn ion 10 40 70 40 97 80 WesttiEI Weyrhas White Motor Whittkr lOd 1410 40 WtnnDx WookMi Xerox Cp 2 ZateCorp 92 Zavre Corp ZenrthRad uUto , 31 , 39 Tax Following FWteirty of twd pr ices 5 Agr Bnd Des Eoufty 13 Fr Group 17 N L 10 09 N L 0 51 N L 1 63 7 15 69 N L 14 99 N L 9 09 N L Inc Cpt Ywted Hi Mn I td AAunrp Pur itn F Saiem Thrift Trend 54 M Oflncorp Or Rtorl 'tteiM I (VShp 40g ParG E Per Itg ParNW 2 44 40 1 20 2 420 Tito 7 276 ISto W W 8 9 7 7 - S3 101 Uto 11 , 17 45 117 26to -- XYZ92 165 340 17 I 9 Conver Equity Georg Grwth Hi Yield incom Invest F 10 16 N 19 71 21 Fin'd L 54 Ratnbw F 'Reserv F Revere L Satec Eq 2 23 N L 00 N L F d Fd f ihr Prxv . 87 7 SI 9 ? 83 00 N L ? 03 2 k V-- J Savtes Loemts C at 10 f v 1? Mutual n Laid Abbett t( k? Attilat to inv Fd N L 25 N L Aft 16, , i 4 31 , 97 20 , 25 ISto 4 , 3 2M 71to Slok mcriran 2 33 3S2 57 9 BnncHtk 9 9 16 80 52 ? M 23to 34to 24to 505 N L Programs5 17 N Fm I 74 9 5 5ft Dyn Inc G 9 06 10 70 4 06 N L Safeco Fin Ind 7 7 42 8 II AmNt Gr II f in Irv 72NL St Pi Cap 7 56 8 26 Am OptF Inc Group Funds StPt Gm 17 52 N L Anchor Group Grth Ind Scudder 1 00 N L In 9 10 N L Hamitton Comon Daily Group: 6 15 6 63 13 86 N L 3 74 4 09 Grwth Incom Fund 6 91 7 45 6 67 7 30 13 69 N L incnm Grwth Fnd Inti Axe Ueuglrton 10 00 N L 6 51 N L incom Rs Mgt 7 49 0 14 Investors B 10 37 N L Fund Bd Mun Group: 4 04 $ 26 9 Incom 8 39 05 N L ?6 64 Soecai Mutual Stork 16 56 17 00 Stem Reo Funds 5ft 5 89 stock Gth 9 12 9 dO BiC 083 H 44, Baianc U) (71 73 N L Inc Bans 6 12 6 65 Var Capitl Pay () (71 0 56 N L nv 5 34 504 iH Sfock rv Resh 8 84 N L Beacon Funds Service Keystone HI beacn Berger Group Fno iuu 101 Fnd Berkshr lft. 10 5 33to 41 v 30', Fdr Bmt Calvin Bidtock S 16 29 9 717 71 9 790 19 4 24) 10 SO Ex Lfh 0 0 '0 lOto 4to ftto tto Vista 41 lift 91 Voveg Jl' 161 S0to Uto 465 506 Iw 679 7 24 Tto SR1 Option Tax 07 '6 7 ft'. 7to plSto I6to 11 01 10S4NL 10 V4 DrcoPe Or foPt pf 4 JccPt pf? Or Pt p I? (Jrcd Pel wt 40 Oodnnf fo Ohio Ed 44 to 13", ttto mill' I in t 41 1?to () x) 71? vv? 9 10 to 15 15 6 267 12 243 90 1) to 32t- o- to to I3to u31 20- 11iiIii.iI NFW UPU XB 124 200 9 330 91 7 z60 14 42 30 51 7 7 829 6 16 24 X) 55 to 16, 39to r)6to 10 9 to to 25to 9to 9to 3to T5to 12to 2?to p?2to 37to 100 I to TrlCon 1.5W 40to to TRW fo m to TwCF UOa 4 U45 r29to 41 W to 6 to 7 43 rXto to I 196 66to 7 430 6TH ?9to 2i to 22to 4to 34 k 99to 43to 28 2 40 7 612 2 80 7 277 36 14 101 80 7 66 70 XI 153 7 2 10 9 St 2P g56to 17 0 5 50to 22 44to 342 W 7 185 19 3 lito 9 156 6to 4 159 2Sto 5 20to 9 3003 32to 6 125 fcto 6 114 34to 13 930 16to 5 80 2Sto 42 45 9 26' 13 'Oto 6 x646 27to 9 475 18to 7 115 38 27 62to 6 07 77to 9 94 20to 7 7 149 43to 9 300 30 XI 156 31 x30 15to - N N S4 Nkte n j 7 e No NwsiAir h Ne Fgr 7 10 Nwsr in t as Norton c PaiPftrl Pa Pwr 3iv f 24to 60to- 7 220 5 x629 IS 4 047 320 7 27S 2 20a 90 92 A tr Transam TranUn to Trans W 4 P1 V ft Nc . 50 60 9 1 4 m Nrv Fw N( ngfi N aoX Nt toi,, 5 6 1?T Bull 143 13 778 (jyr Vtv 76 9, 44 Nafriee 3to 2?to 59to )8to 32to - T , Tton 0 R Uto IT, 6 80 6 17 80 19 Tito 40e 9 RochG Pockwll 2 20 7 94 37v 21 H) 18 5)to RohmH RovlD 4 26b 5 2003 6) RydSvt 60g 6 299 18 22 61 to ten U, I RtoGrte RtoGrpf ION 5 j 20 2lto 36 26to 80 194 70 57 to K K u OkiaC ' j H) 7 3 I 10 , 13to ft5 n pcai fcteehi nt f a ui at) f B Tru( x As 4 6 MutOn Quotations Bid 7 13 Ito MurrteOl 17, 4 43' 55v aoto 4to 29to Tito 20 Mt$Te X6 4 6 20d 20 1? 2 Monsan 6fonPw MKnud Mntorola Ml Fuel At 4 A f 11 6 30 1 si F, 8?to 67 24 70 r, 502 68 Merck 40 1 67S 4? MesaPet M G M 110 13 50 10 2 2 M &M 237 57 04 9 6 22 M.rvPL Mibn C 4 ?n 7 0 9 Mohasro 20 60 3Bto 2Bto 5 Quotations (mm the NASD are retrestnai ve mterctea v m ice as of o m interoaaler mai kets chanue tiro'rgfuui the da Prices Ou enprOximeteiv hot mcude markup, markdown or commission Ask iSto 194 9to 6to ?9V 5 20 6 May DS MaverOs 90 I 60a 11 Maytg McGr E 60 7 50 7 McLean E i 2Ts i 9? 30 I 00 8 70 16 Ito W Lockheed LTV Corp LackyS 04g 12, 103 I4y 29 101 9 9 c)7 r 61 31to 25 37 23to 16 7 26 20H 23to 129 47to 34 5D to 122 70 23 146 S7-11 52 13 762 286 s 237 to 2 10 4 242 37s 26 49 44to 322 69to 007 I6to 26to LearSteg 60 Lehmn 52d L 0 F 2a LOF pf 4to Litton ?VTk 29N 22H Noil Bid 7 31 - L L -- i UK i Thursdoy H) 15to to 23to 25to 10to 15to 12 35 tP 23to 57 20to 9 199 I4to 12to 961 10to K) 51 to 25 I 40to 29 h H 297 oTto 54 60 06 7 35 20 12 2 15d 117 355 K L M Aid 3 6 K mart 56 10 HW 60 7 161 Kroger 71 50 Ralston RCA Cp 40 RCA cv pf 4 Ref Grp 60 Republic Cp to Rep St! 1 60 Rev Ind 3 SO 11 KaisrAI KanPLt Kellogg Kencott 5 Mart h) G 9 -- II Jewel C JohnMv John Jn Joy Mfg i VMl OH four-natio- nations third M 3 YEAR cxustio m Eat tier in Chicago, Vice President Mondale had calk'd for steelmakers the $10 50 hike and said Carter wixild make "an inflation statement" when he returned from his n current trip. 8 9 112 26y 41 282 51 202 Fnbau( UJT Costs chairman . S 9 37 10 641 12 kH 14 121 9 230 la 15 144 90 7 263 12 290 274 Cp 30 6 51 4) 9 305 JO W 26 JettPuot vy 364 2K EtteaCP Envvhrh Hatlibtn 4) HartSMx ft HeriaMn 2k Heinz H 140 Hercules Heubfm 1 40 Hewttt P 40 Hoi Inns 56 Jantzen 27 161 5 FirvtSB Fir she Fleming FMC pf Ford Mo FortHow rer Mdbplbdi v 25y 20 aberg Fain Ind nO fair it id- 76 Fmah Mig tfV Bunk I ft 1(7 y ESvsten F ,Jtu (hago ctey 206 72 95 150 324 1210 73 Eastern Ar S Eastk 60a U W 7 F)PsC Exajn ' 5i0 5 EthyiCorp 0X' djC 30 80 1 InTHarv m Dmwer 21 5iJ6 11 Duke P DuPont DuaneL Dynamic DomeMn Dow Ch 0075 rf) 9 Gen Motor 4 GenMot pf 5 G PoOU 76 G T E 2 24 G Tire 309 Ga Pact ig 40 Gerber GettvOI 4 80 Getty pt 20 11 60 15 93 17U 80 13 45 Tito 20 8 43 1 88 8 197 47 72 8 W7 2 t 5a 9 107 135 rt 10 138 71 4 '0 8 A) 6to DrPeopr li? 2 M GnFood IBM Disney 0241 1094 5 13 14 5 75 KJVk 4 64 104 2 5f 8 40 40 7 723 J4 6 136 63 14 677 40to 12 117 10 7 36 VM 4 329 9 302 37W 6 w 10 30 6 60 6 52 6 52 8 50 16 52 30 DiUhxRi 54N 09 37 89 45 09 64 n & 8 23 6 20 DetEdis Dtebofo (UPU Reven-j$1 94 12 Onmsn 40 12 70 52 01 10 60 98 20 12 77 51 90 10 70 98 49 12 M S205 10 72 lose r DnnaCp DavPLt Deere Del Mm Ot) 76 21 I Wiihdr await legos S Cash kviarv e PiOku deh internal Prev 40 26 Trm Utils Fnd Stks Indus 98 9 pm pm. - N ChesPnd U40 com (.U-arinvewiantuNiy oMs vfostarfiitv higher (nwr and snvheans mixed at the close Thursday yn foe Chrago board of Trade Ruotations Afri ea was ijp 0 fo II cents corn 0174.441 005 19 Toney s ueer.ng oats oH 2 to unmanged lo up T S 51 80 6V- 07 as! Ssme 30 fo ott day rent mvbeans vii ip u t kxv ouce sad snvuea s a mmur technical adiuflrifv m mxviv !a-- li lo beariui matures that mr Ldpo toe iMvie proposal anfkHimed by (j S 5m at Bon1 Cash urrt (teoartment Agriculture Nr and Brazil s bean prtykxfior Bergland t iiUu'e AW'vM nhio canv, j if ,14 than most sources had mi Corn mv hanged No 2 vednw 2 M N higher No 2 extra heavy exper ten wt).ie up 2 TV artmimsti atlon was h if jN proton No Jewned by trader, to be auxi iwutral, SnvUnans yellow unaianged for but txrilish for wheat, high rate arji6S.iN ' losing urxes Inflli aed as miKh fo , KIN nt,iiing Ilx ikHwmJu meikeN ewe higtxr , am, ,1 759 62 7ft9 16 D rteaed No 2C'29 400 0943 16 Citicorp Cities Sry 3 74 CocaCol CocaBofl 40 Cot Gas 2 34 Col Pictures CmwEd 2 40 Comm Sat 2 Compute So Con Ed 2 20 90 ConsFd HI ConFrg ConsNG 2 76 ContAL 25b ConttOU 40 ContTet IW ConfrotD 25 60a ComG Cox Brd h 5 CPCInti 2 70 Crane Ag 90 CrownZ CurtissW 60 rtrv SALFS 13 Poor's hourly indexes tor Thursday On Os 104 ClTFm 2 40 J65 44 Germany fimonth ( , 0 Press Intemehenet 7599 pm Oyster Thursdays 87 m 560 40 n u THIS reta leis igrad , rr rartons ExPa large 6hu, large 4fl0al a Nvto Trm Utils Fnd Stks 90 23 12 79 52 08 1070 90 15 12 8 52 0 7 10 70 98.11 12 78 52 03 10 69 Noon P m. & marl: 3. wtnr am 4 2 406 Indus 11 Standard (UPO war thr'MXjn March A tr the nearest minion doM.ii si (HiTAfiO C 10? 54 Poor'n 500 Stin k Index Uivar, WAiHlNf.TON 58 jm 09 76 93 62 05 91 By United 2 Ixra ik'ery fo Bcxfos Uti-Pi Indus pm Staiulard 00 0O45C7 4 P46 3 6200 3415 monte (3momh Cevnvany ff.krn .ev I BUTTER AND EOGS CHICAGO Butter CiPh market Prkes paid delivery tr Chi umo uri hanged 93 yore 102 7Vt03 25, 92 7 100 V ore Fwr Prices paid fo i,n Thtrsd.iv ha igd SI 40 Gam Sk 40 Gannett Gen Dynam GttWspfrto 171 04(9 024 8M h 75 on (peso) escudo Philippines VPfwuta 7ve rnedi Extraordinary George A. Stinson, National Steel, the largest producer, said . . Earlier Thursday in Brasilia, Brazil, President Carter agreed with an angry White House Council on Wage and Price Stability, which had attacked the 2 2 percent increase of U S Steel and Wheeling-Pit- t sburgh steelmakers already have Major implemented a 55 xmcent prue increase tins year. Echoing the White House council, is Carter said the price increase excessive and does cause additional and serious inflationary pressures in ixir country. 04a Gryhd 90 Gutt OH GuH Res 25 24 GuttStU 66 GttBWst GtfWsof V Oexft 25 J45 3 oouniJ H.anon In Full Agreement "We are in full agreement with the v lews expressed by various members of the administration . that inflation . is the most pressing problem Stinson said, adding the $5.50 increase "will leave other . . . indirect costs to bo dealt with in the future." . GrtWstf In 0608 (Jfl44fo J UM the ninth , said, Stinson "Nevertheless, "mindful of the impact of our action on our customers and of the inflationary forces now at work in the economy, we have coni hided that an increase at this time should be limited to cover immediate direct cost Increases," h 1 Goodvr GraceW 344 On ven Turkey (flrai UtO Arab Em idirharr Jruwurty iuev 4o 00 46 V' 00 10 10 Range 01 prices tors year 344 idoi-a- ' Catt In 2,467 900 Cl 42 r? 054 Wheeling-Pittsburg- . Ote 20 & 0 53 105 72 0 J4 267 40 0 76 to average 2 199 742 12 20 Transactions m stocks used Thursday Industrials 1,496.200 Transoor tatmr 524J00, Utilities 247,200 Total 0209 4609 2163 2 2 0024 0142 46 3 21n3 (lirai Switzerland Swrtzerlano and 2 2'0 No 200260 lbs M tl S6 15 206 13 105 15 266 19 h 2i wtwland Uranri k Thur to esflib 03 70 29 06 0603 .8821 0333 02SB 796 0402 45 000 8803 8299 &C 'ooflari (kone) Pakistan (ruoeei Paraguay (guarani) Peru soi 330 500 50 IriMSfl trad to 03lNXi QWi New Norway Siw JuufcT 764 200 106 269 0m3 (PiflC Saudi Arab-(nyati dollar Singapore South Africa (rand Spam toev4a (peseta R) v rona Sweryvi r 761 43 207 39 105 95 ferfl 00 Jones 3 (pound Portugal 270 295 lbs 45 00 46 25 tos M 4 45 00 U S package 370 tos 43 50 onfcf 500 lbs 25 lower ewer 500 50 cents fo 00 lower Mixed U S tos 42 42 75, X) V10 lbs 43 44 00 boars over 150 tos. A 00, 190 W Whs ft 00 V 00 nounn fo tm ptk e n 25 no I artvenr eUimale Cattle IjO rula OOfl hu stw 25. All Atrajitkte Oose Ote Law i4tf (France (franc) l 0 rf 00 Jorqan (dinar, Kuwait iduiar WE 4 Stks Hflft Wednesday Eovrt (prxndi ite'V 2,600 total arr'val more than head barrows and gifts 75 cents to too lower Mixed US ta A 4 50 tos te US U 2 mixed US 2J 250270 lbs 46 2 (peso) Argentina Australia (ooflar) Austria (schilling Belgium (tranc conv) Belgium 'franc ftncl) Brazil (cruzeiro) Canada (dollar) hite (peso) Colombia 'peso) Denrrwvk (krone) Ecuaoor sucre) Jaivin moderateiv ftoehed 51 00 53 00 0) mostty 47 50 50 50 fot. 900 46 0048 00 UtMs Dow (UPU Open J oiir ex Foreign lOrcecfi 'drarhma) CHICAGO (UPU Closing range of jrkmenfl 'guilder) Hong Kong dollar) Iced Broilers futures traded on the Ch India (rupee! cago Board ot Trade Thurscav (rupiah) Prev. (Indonesia Low Ctese Open Hvgfl Iran tnaU BROILERS ICED tos, cents per lb Iraq ww) a pound Mo fhv n 65 YORK -- rates m dollars Fnoland lbs; cents per lb (England England 7 7 30N jon u ftxid Wl 200 tos 45 7 10 holstems Fekvr herters chore and some orime raflk )oh ranged averages 4 Thursday narrow Sas NEW closing Stocks 3D Inds Tn 2M (UPU s Effective April 1 three price increases are effective April After trading ceased, the Federal Reserve said that the basic money Otessre 132 Ite ChBrg Chris Craft YORK NFW change All throe said the increases were needed to cover the costs of the I'mtixi Mine Workers strike and the unions new contract with the soft coal industry US Steel and Wheeling Pittsburgh declined to comment oil National St t el's action k Foreign Exchange market wrt Steel Corp largest producer SAP Index Off I -- 2X4 then by and maker, fractions AetnaU "price increase (lx's r All exec A A 573 38te not in ary way address the problem of the extraordinary energy costs incurred during the coal strike which, if averaged for the year, could justify a much higher increase the Vice Stix'l Stock Exchange: Final (Quotations Lower case tetters appearing m front of the closing price indicates that pret was on another stuck (b) Boston Stock Exexchange change, (c) Cincinnati f0) Detroit u) Midwest, (p)ThePacific, tg) NAS counter marker DAQ, the over reported b rhe National Association of Securities Dealers, K) irvstme the block trading system used bv institutions Os. Ch Sts. Mi Lw Stk. Div P Feb Apt Jun - Heeding National Steel's price hike of $5 5(1 ton on all steel mill products undercut the $10 50 a ton increase announced first by United State's Wednesday Steel Corp., the nations largest steel m 16ms. Jan iUPD Pre'ident Carter and National Mondale. Thursday announced a price increase almost half the sie of those rev 0811x1 earlier by two major steelmakers. reixignimg "the inflationary forces now at work m the economy The market also was apprehensive about the weekly figure on the nations supply of money, which is announced each Thursday by the Federal Reserve Bank of New York after stock trading closes in New York. If the supply of money expands tixi rapidly, inflation tends to become more virulent and the Federal Reserve often tightens interest rates to fight priee rises. winding up their business year this month ratK Apr 3un Aug Oct Dec price 5J3 0f President U.S. Steel closed unchanged at 25k hut was heavily traded most of the day. He said Japanese firms seemed to hav e Ix'en selling dollars heavily before sales m hundreds (00) omitted 1 for those whirh are traded ir 10 share lots and canned m uii DlViOFNDS are annual unless otherwise ident tied (a) plus extra (b) paid last year, lc) oavment on accumulated d v denos (d declared or oa d so far hi year, no regular rate (e) cash (g annua rate plus plus stuck slock d'VKiend. h ) paid tfl s year latest dividend omitted, () percent m stock (k) percen m stoex pad q j m bankrypicy las vear receivership or reorganization, (s) capita) d'Steibution, (x) exdivioend, w l when Issued ( wt warrants T (f) indicates to 'Ow fraction m 32nds (,) ng CHICAGO (UPC - Closing range of indicates toflow-nfigure is fraction prices traoed on the Chicago Mercantile! n 64 ms (n following figure is Exchange Tnursoav traction m 2S6lhs (s) following Prev Open High law Close (t) is tracon ir IJftths Uve Bef Caftte 40400 fcs cents per fe figure indicates following figure ,s fraction to per 23 Iin. Is up Id Corp Steel stocks showed more strength than most issues following U.S. Steel s announcement of a price increase to Wednesday. Bethlehem Steel rose 20 and Republic Steel was up V to Kuchi Miyazawa, director general of the Economic Planning Agency, predicted in parliament, "Die yen will not bounce back to the unrealistically high levels it hit earlier this week." iNew York of U.S. Steel Unchanged The bank has been trying to c heck the yens nse, which makes Japanese goods more expensive abroad. Loss of competitiveness already has hurt some of Japans weaker export industries. MarkWs In Brief PITTSBURGH pleas Prokors said many large institu tional investors were staying out of the market, wailing to six what President Carter would promise to combat inflation Carter's chief economist, Charles Schultze, said in a speech in Indianapolis that inflation was more serious than the administration hud thought previously He said voluntary restraint against large wage and pm e increases is needed to solve the problem The dollar closed at 222 65 yen, up from Wednesdays 221.55, after dipping as low as 220 70 yen matching low point in nervous Wednesdays trading that totaled a fairly heavy $554 milliixi m spot transactions 2 Third Steelmaker Raises Priee, Bill Half as Much det lining issues among stocks listed on the There were 4! issues iHitnumlxTi'd Fears Hun Wild "Inflation fears are running wild here," one analyst said alxxit nudwav thnwgh the trading session But those apprehensions were offset somewhat by the government's announcement lhat leading economic indicators did not reix'at in February their sharp dec 11 ix' of the month before. Dollar Men s Against Yen fc ls-- 756 to 6U1 YYSE The N SD AQ composite index for the over the louutei market closed at second most .utive to krf4 BOC liitern.itional wa- - 20 46 Exchange Ia'seis e iito Inc, the New i j 1 U- -t York Stock million share-- , a 25 45 million on the Volume 1 Sears Roebuck, tlx1 nation's Liro.n of retailer, topp'd the most active the NYSE, ending the day uih hanged at 22 Sears has reported sharply lower earnings for its fiscal fourth quarter The Dow Jones average of industrials finished the day off 2 16 at 759 ug. a retreat from the previous two days when the closely watched index had g. lim'd more than 8 points 1,852 $2 X" 41 SO decrease from NFfl YORK (UPI) - Latest metal 1000 tons. with higher market prices Spot lead 6te pounds quoted Thucsoav by the American Metal Market, authoritative Ouvers J16 and sellers 317 pounds per ton, forward 6 pounds higher with buyers metals publication NEW YORK (UPI) - Markets at a 99 5 per cent plus 321 and setters 321 to pounds per ton Aluminum, primary glaix e at the close on Thursday Sales 8025 tons. pure SO lb. moots 53 00 c to. Storks - Lownr in moderate trading Spot line Tto pounds higher with buyers Antimony, domestic, 99vy per cent pure, Bonds - Lower 7to and tellers 288 j pounds per ion, fob Laredo, Texas, bulk ITS 00 c to. American Stocks - Lower m moderate Conner electrolytic delivered U.S forward 7to pounds higher with buyers 625 C to. 90to and eehars 291 pounds per ton. trading 62 5 London Storks - Lower 2125 tons. U Sales common, 1 primary producers Lead, Cotton Futures - Mostly lower U S non wtti 33 13 c to Spot si'ver 2 60 pence higher primary (secondary) Cjt ild Futures - HnSier buyers 205 50 and setters 2S5 0 pence producers 33 00 C to Chicago Grain Futures - Wheat closed Vgnesium 99 8 per cent, ingot 99 00 3 months forward 2 50 pence higher with 8 to 11 com unchanged to jp c to buyers 790 30 and sellers 290 40 pence ir oats oft cents, T a to 3N, and soybeans oft 31', 99 9 per cent boxed regular Set 152 lots. Vangae, 30 to up cent ID C FUTURES COPPER Cattle Trade - Sates insufficient to es1143 M48 00 76 to tie - Cnoopr totjms tablish a nwket trend (UPI SiOel. electrolytic cathodes, f Port NEW YORK Thursday cfoied unchanged to 10 putnts 36 to Co'tmrne, Ont , $2 p annum sott. 99 5 fire producer7 towr Sales 4.200 contracts. troy NEW YORK The stock market slumiKxi In moderate trading Thursday as worries over inflation mci eased on Wall Street TRADED 756 3 I 31, 197H Ltd said it purchased 841 ,500 additional shares of Aireo, increasing Its holdings to 8 6 million shares, or 54 percent BOC addl'd that it had no plans to increase its holdings further The NCL comX),site index of more . si itiinmon stocks fell 12 to ilia, i I'Ur On the American Stock Exindex was .08 change. the inai tower to 12h s6 billion Standard A Poor's index of 4oo industrial stinks was oil 2 to ',s 24 SAP's index of aUO stinks lei! 21 to AP Writer 20,460,000 DOWN supply rose sharply Michael W. Millic.m By ISSUES Kenneeott is now act"! !y so king proxies while Curtis- - W right is prohibited from seeking proxies Metal Market S.V- VOLUME SHARES t, o to UP 600 Friday, March Inflation Fear Spurs Marts Decline March 30, 1978 h The temporary restraining order w as to hae run out Friday ltah has challenged Curtiss-Wrigh- t acquisition of 9 9 percent of Kenneeott shares and intent to take over control of Kenneeott as iolating Utah's "take- ! New York Stock Exchange , s I, '? The Market In Brief appeal to circuit court Thursday's hearing pitted arguments of James K Barker Jr , deputy Utah Krilh attorney general and Taylor against that of Thomas A Quinn of the firm of Ray Qumncy & Nehcker, which has been retained hy Clirtiss-Vright Basically, tlie state holds that Curtiss Wright covertly acquired large blix'ks of Kenneeott shares, and Utah shareowners were not privileged to know w h.d was going on so that they could uther sell or retain their shares Curtiss Wright could have notified the state of its intent, but did not do so because it did not w ant to tip its hand o shareholders or drive the stock pm e upward Curtiss Wright now has powerful leverage in the company and could act Utah sharelkildcrs and the again.--t state's economic interests Tile Utah "take-over- " law was designed to prev ent harm intended But "the bank already has been robbed Curtiss-Wnghwith a relatively small imput of capital, now is on the threshold of taking over a company with major assets and important e in Utah. Curtiss-Wngh- t held that Utah was in violation of the supremacy clause of the U S tonstitu tion and in contradiction with the Williams Amendment of the Securities Act, which, of itself, provides a stockholder information procedure The Utah act is a burden on interstate commerce and that case history indicates that state laws cannot be designed to protect local economic interest Utah actions are a "blatant ata chance tempt to deny Curtiss-Wngh- t to communicate with KCC stockholders pnor to the annual meeting May 2. Utah made no attempt to communicate with Curtiss-W- r right or its local counsel prior to seeking a restraining order against Curtiss-Wngh- t. Eugene Lambert, director of the Utah Department of Business Regulation, acted without proper statute authority in seeking the restraining order. Though there is a Utah Securities Commission listed on the states table of organization, there is no Utah Securities Commission extant with identifiable members. Curtiss-Wrigh- t has inflicted no injury in Utah Hence, there is no cau-- e of ai non H Woody t Trilmne Bumhoss Editor Third District Court Judge D.c.id K Winder Thursday extended a restrainCorii ing order against Curtiss-Wngh- t until Monday noon when he will rule on challenges by the State of I tali to Curtiss-Wnght'acquisition of KCC shares Judge Winder ordered the extension Thursday after hearing attorneys for the State of Utah and for Curtiss-Wrigh- t I 1 Rolx-r- The Salt la.kB Tribune, Stocks Fall 2. 16 Points Plash Grdfent 40 Guihtei Id 10 A&t r iixtkM SunrtiW f. J0g 5 7 11 y 121 t 9r10 19 28 ? 5to 6, 4 8 10 Tto 6 S Uvntex , ilAl Inc I Vangri Sv F Utd Ca U5AA USAA in GvtS Us 7 11 9 6 ul 98 N U N 37 N I 42 9 56 I |
