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Show I'iiuiiH'ial Foods vv & JrV VI Convertibles Inflation Hedge By Harold Finley future time on a 10 per cent or 12 per eent basis, yields of 7 per cent on presently outstanding issues will not lie attractive, and these debentures will sell lower than at present unless appreciation on the common raises their conversion value. Credit risks of buying convertible preferred stocks are slightly greater than for debentures because preferred Chicago Tribune Writer I always thought that prospects for profit in investments were proportionate to the degree of risk assumed, but you make it sound as though you could make a lot of profit with negligible risk in convertible debentures. Please explain. e Convertible investments long have appealed to me as ideal for small investors who need income but also wish to have some v rvvwf hedge against insflation , fixed-incom- two such NEW YORK (AP) The stock market closed moderately higher Friday despite an announced increase in the prime interest rate charged by the nations major banks. The Dow Jones average of 30 industrial stocks was up about four points during the day but gave part of that up near the close. It finished 2. SO higher at 928.34. Gainers outnumbered losers by a margin of about 8 to 5 among issues listed on the New York Stock Exchange. Trading was moderately active. Volume on the Big Board reached 19.78 million shares, down from the 21.98 million shares the previous day. The Dow industrial average investments are identical, but numerous at- tractive - pos- sibdities exist. Convertible de- I .j bentures are ob- ww , jr ligations of the 1'1 issuing corpora- LA tion, so default is Mr. Finley unlikely in cases of strong companies which have paid regular dividends on their common stoc ks for many years. Convertible debentures usually do not yield as much as straight (nonconvertible bonds) but many now return 7 per cent yet are selling below their call prices. Another important consideration is that convertibles should sell for little premium above conversion parity if appreciation prospects are optimal. In other words, I suggest that you pay for a convertible debenture not more than 20 per cent over the value of the common stock for which it may be exchanged. It is, however, not accurate to say there are no risks in buying convertibles. Occasionally even strong companies deteriorate and default. Convertibles usually are not backed by mortgages, so they do not fare well in reorganizations in those rare cases where defaults occur. V -- f f - -- Ray G. Grouss-man- , formerly general counsel, is now vice president and general counsel. He joined Mountain Fuel in 1974 and holds a law degree from the University of Utah. Credit Total Rises WASHINGTON Consumer (AP) credit rose in March by a record $2.7 billion after seasonal adjustment, the Federal Reserve Board said. In Clyde M. Heiner, formerly manager consumer credit increased by of engineering, is now vice president in 2.02 billion. charge of engineering. He has served as Feb-rurar- oz. $135.00-1300 76 Ib. flask. Quicksilver, Tin, N Y. Am. Met. MKt. Alloyer price 189.75c lb. Tungsten powder, H Red 96.8 Per cent minimum pure, $14.20 nom. lb. Zinc, prime western, U.S. 37.00c Ib. - LONDON (UPI) Spot cooper wire uars closed the second session on the Metals Exchange Friday pounds higher with buyers 826' and sellers 827 ounds per metric ton, forward 9 pounds ' igher with buyers 847 and sellers 848 oer ton. Sales 10,200 tons. Soot cooper cathodes IF pounds high- with buyers 818 and sellers 819 Jtxxjnds per ton, forward 10 pounds t buyers and sellers 838V? ounds per ton. Sales 225 Spot tin 60 pounds higher "75 and sellers 5780 pounds o 50 highr with buyers 5860 pounds per ton. Sates pounds sellers 839 tons. with buyers per ton, 5770 . cents per troy; Close NEW YORK - (UPI) Markets Prev. glance at the close on Priday: in moderate trading. 476.00 477.50 477.30 477.50 480 OON 480 00 403.20 483.50 488.70 489.00 494.00 494.00 499 50 499.50 505.00 505 30 510.50 510.50 516.00 516.00 521.50 521.50 521.50 527.00 527.00 527.00 - NEW YORK (UPI) Platinum futures Frioay closed 50 points higher across the board. Sales 188 contracts. GOLD NEW YORK (UPI) - Foreign and mestic gold prices Friday: LONDON Morning fixing 147.60 UP 040 Afternoon fixing 148.15 up 0.95 PARIS (free market) 150 up 0.46 148.28 up 0.77 FRANKFURT ZURICH 148.125 up 0.25 NEW YORK Handy and Harman 148.50 up 1.30 higher. American in er moderate trading. d. London Cotton Futures-LowGold Futures-High- er was oft Chicago Grain Futures-Whe- at to com oft to oats oft 3 to up I; and soybeans up 30 to 4. Cattle too $41.75. 5; 3; By United Press Ifrtentattonei CHICAGO BOARD OF TRADE Do- 152.37 rtiement CHICAGO (UPI) 150 Friday close. - futures Silver points higher to 30 Ju'sliN'k .Markets $ -- 19 $1008 Open 3400 3440 4958 Jiy Oct Jan Apr Jiy B prices. Hogs begs; High Law 35509 36)0 3400 3440 3610 per bag Close 3390 3440 340 3610 3485B 3535B 3610 33YO Ai! sak-- s ii hundreds (00 omitted except tor those devgnated (i) which are traded n 10 share lots and carr.ed m full DIVIDENDS are annual jniess otherwise identified Dad last year 'ai plus extra, r. payment on accumulated di v den os 'd: dec'ared or odd sc tar his year, no regular rate. ei cash Pius stock, g) annual rate plus stock divdend. h) paid ttvs year latest d'vidend percent 'n stock. percent n stoc pad m las year bankruptcy -rai or reorganiat on, 'si iQure is frart.on ') m Sheep; insufficient prKs Monday's Cattle 700 JOUET. sales to test market advance estimated receipts. hoys ill 2.500, fUPD - sheep lUl) Livestock Choke and prime steers 41 75, load choice m 75 tew fuaUs choice and prime nett frs 40 0 0 40 7b, utility rows 79 00 tfcws 1,000, trade active, harrows and turn to 50 ceH higher No 2 TOO 3 200 260 lbs No. 2 lbs 44 44 00 50 4i Nkttdav's estimated receipts: Cattle 4,000; hogs 1JQ0 ion unchanged. 100 W 926 39 927.49 929 36 929 52 929 53 - iH-aiiiii- 240.11 239.82 239 87 240.50 240 41 0.30 0 i2 3 91 043 1)0 49 110.59 110 62 110.43 110.49 0.25 0 23 3)2 56 312.71 313.10 313.24 313 24 0 98 0.31 Stork " YORK Poor's 500 Stock Index Standard NEW YORK Standard (UPi 400 40 20 lla.m. W. 18 15 0) 53.67 11.61 109.25 14.99 53.68 11.61 109.37 14.99 53.79 11.61 Noon & Poor's houny indexes for Friday. 500 40 Indus Tms Utils Fncl 400 Stks 98 83 9k.88 9b 99 Indus 2 p.m. 3p.m. Prev close 20 40 40 560 Tms Utils Fncl $ks 109 46 5.04 53.76 11.62 109 45 15.04 53.75 11.63 109 06 15.00 53.61 11.62 99.07 99 06 98.73 bl7v 18 15 14 Itek Corprtn 12V5ITELCP .30 272 23 I6V4 13 6 37 71 15 41' 21 12"? 13 13 10 16- 13V, 37 13 10' 59 23 32 26 35 33 31 20 6 36 641 xl$V: p1$ Vi Mutual Fund Foreign Exchange NEW YORK (UPI) - Foreign exchange Crane 5 1.20g 00 10 CrownZ OjrtissW .60 8 - 0 DayPLt DeanW Jun 43.00 29 28 43 60 43.42 43.95 26 26 23 15 35 10 8 25 11 37 46 19 22 123 135 66 4 62 19 20 1.66 .60a 1.20 9 4 )h 6 1.24 45 Detects 7 6 Diamdlntl 2 9 .50 14 Diebotd .52 6 Dillingh Diilingh pf 2 .)6g DrPeoor DomeM 3Sw Dow Ch 43v, Dresser Duke P DuPont duPn pf DuoneL a 31 tbs; cents per ElPasC EltraCp , Esmark 7 9 3 9 ExCeilO ExxonCpn F F .40 17 IS 7 ; Fleming 5 47 17 23 23 28 28 20 18 49 50 4 Kroger 1.44 7 - L L- LearSieg iO 7 Lehm 1.10b Levitz Fum 13 L 0 F 1.80a LOF pf 4 Litton Corp 27 Littn cv of 3 Littn cv pf 2 4 Lockheed LTV Corn 5 LuckyS .6g 12 M M- 130 ? Macy Mad Fd .20b Mad Souare 10 MrthnO 2 20 7 24 9 MarshF May DS 1.12 8 MaverOs .80 10 13 Mavtg McOr E 60 46 8 McLean 6 MeadCorp Meaaof 2 80 Merck 1? 15 MesaPet .10 16 4 16 47 20 62 14 73 24 2) 42 M M G 7 MM&M I 70 76 MinnPL 3 80 Modi Mohasco 90 Monsan 3 10 MorPw MorsK 1.10g Motorola .84 , Moon Fuel 2 24 a MtStTel I 88 ?? MurpnOl 80 32 15 MutOm 57 22a 7) 19.4 88 28' 29 56 7 26 158 120 146 16 151? P4 65 i2 39- 214 - 12 10 15 33 12? 9 48 18 24 24 -- 31 31 14 284 20'? 2 572 100 237 314 3$ 21 4 49 21 66 52 61 47 6 13 30 85 11 19 10 8 34 36 9 16 78 p2- 29 45 45 27 ? 33 16 , N N 6 10 8 $ II 92 score 71. Prices pai delivered to Chicago Eggs unchanged Px.es to retaiigre (grade A, in cartons delivered store door): Extra large 552; mediums large Inlerinoiinlain Slin k Kxeliane 7.48 Nov 7.48 7.46 Mar Apr May Estimated volume Frozen Aug Ort Friday s quotations Friday s quotations Estimated volume 8.646 contracts Ruuet Potatoes tOAUU lbs; cents per Ib Turkeys Estimated volume 2 7.46 8 I6N 8 46N 9 16N 7.50 9 16N 8 4AN 9.)6N - Cash grain CHICAGO (UPD Wheat unchanged; No 2 soft red ;N 2 No. Corn yellow unchanged contracts. ,400 lbs; cents per Ib 52.25 N 54 75N 52 25N 54 75A No (lash Grain contracts CHICAGO (UPI) - Closing range of Iced Broilers futures traded on the Chi cago Board of Trade FridayOven High Low Close Ptev ICED BROILERS Iced Broilers ttAM lbs; cents per to interdoaier prices as 0 Quotations from the NASD are representative p m. Interdealer markets change throughout the day Prices do approximately not include markup, markdown or commission Securities 0 0 35 2 ?N 4) 2 Nc Itr-heavy Oats unrhang. 80N white yellow Soybean unchanged No 9 7H1 Chicago high rate 50 Bariev malting 2.5B300N, feed 2.0UN 17 19 OklaGF 48 10 M 5 Hank (Hearings :? Fr idoy s quotohons Bristol. OuO at 21 C nylnds, IO.OhO at FiirMand. ) Same day last year Weeks debits Same wet last year li.S. Treasury 0 cm Parktity. SoStand, 8.000 at 10 Iftfat 15 g, WASHINGTON Kqe rolieftiOMs (UP!) - Intprnai unavaMabie Todayciearing Same day last year Rev Ween s clearings r,amn wee 'asf year $8443.352 01 13 $509 207 (ini A&F: V4 18 20 29 24 In 5 "I?! 80 '8 h 25 2! 17 , Pec tg Pat Ptrl PatPwr 68 7 0o 8 9 9 i)l 7 16 40 Par T T Pen Am Air 3Vfe XI . PTfpy 60 Pkm( 40 80 PnnnPL Q 2 If) 76 v4 71 16 DavMn Dvrtawt i 6 vrv?mK 4 4w 4v 24 v, 8 i 358 4 ! 11 ?7H p?2 cl x7? Pla,tk 20 6 6 p2 4 fcnt it? Bravan Ig j Castieton in 18 C'rrte K .70 8 Coleman 6ft 8 10 10 $VU 791.388 Funds: 22 1336 9.59 10.4B 13.79 15.07 11.38 7.96 8.70 7.40 8.09 24.01 25.21 9 38 10 80 11.78 12.87 2 04 N.L. I 00 N.L. 561 N.L 9 04 9.88 9.02 9.86 8.10 6.85 7.32 8.00 12 Tax Ex F Vista Vovag Rambw F Reserv F Revere Safec Eq G Safeco St Pi Cap StPl Gth Scudder Stevens: 9.51 Comon 14.86 Incom Inti 13.36 Fnd 10 02 Rs Mgt N.L. N.L. N.L N.L Mun 10.2S N.L Bd 23.21 N.L. Specal Stem Roe Funds: 17 13 N.L Balanc 867 N.L. Capftl Stock 11.95 N.L Union Service: 11.91 12.84 Brd S iv United Funds: 6.25 6 03 Accum 7.34 0 02 Bnd Fd Cont 8.86 9 66 gw Cont 9.42 10 30 Inc 10.07 1101 Incom 5 38 5 0 Soenc 5.06 Vangd Utd 49 N.L SvcF 7 41 N.L. USAA Ca USAA US Value In 12 03 N L 9 75 9.90 GvtS Line Funds: mcrican Stork Exchange ?Bverlv 3 $17,969,856 $142.657558 00 $839,120,008 00 $713,707,66 00 I9V.604.I3V 96 Putnam Conver Equity Georg Grwth Incom Invest 28 7 to Chicago 71, Trend Following Fin'd 4.83 N.L Fin is a list of bid and 4.43 N.L Fin on asked prices 7.91 N.L. Fin as Mutual Funds Group: quoted bv the NASD Funds 16 79 N.L. Grth Inc. Hamilton Group: 'i 4.18 4.56 Fund Friday "4 6 82 7 46 Grwth 13. 1977 May 7 78 8 50 v Incom Bid Ask investors Group: Amer Geni Group: 9 10 9 89 Mutual '4 5 47 5 90 Am Grth 18 66 20 28 Stock 5.11 5.58 Am insin 9 55 10 27 Select 5 67 N L. iAm Invst Var 628 6 83 Pay A Iv 12 28 N L Inc 5.32 5.81 Resh inv 2.85 3.11 AmNt Gr f St Group: Anchor Group. Grwth I N L. In 00 Daily Incom Grwth 6 40 6 90 Funds: F 7.77 8.50 Keystone Audax 17.84 18 64 Cust B) 19.57 21.39 Cust B 7.97 8 66 Fund 8.47 9.26 Cust 4.92 5 35 Incom 7.74 8.46 Cost Stock 5.92 6.47 5.22 5.70 Cust Berger Group: 17.45 19 08 Cust 7.86 8.59 Berkshr 9.46 10 34 Cust Bonds tk 4.88 5.33 7.71 8.43 Cust Bost 9.52 10.40 Fdn 3.75 4.10 Cust Calvin Bullock: 4 09 4.47 Apollo 97 12.78 13 Bull Fd 3 36 3 67 Poiars COn 7.31 7 99 Fd Fdt: Styles 3 01 Div 3.29 Loomts $hr 10 46 N L. Dv Cap 14.81 16.19 Incom 13.00 N.L. Mutual 00 N L. Prsv Cap Abbett: 11 28 12 16 Lord Cent $hs 8 77 8.87 Atfiiat 10 0) 10 94 Chal Inv 11 30 12 35 Bnd deb 14 05 15.36 Fd Chart Co: Massachusetts Commonwealth: 8 16 8 9? Freem A & B 01 7 F 2 7 78 indp C 50 F 10 62 1) 61 Mass Dreyfus Group n 96 13 07 Mass Financl 10 Svcv Fd Drvt 53 M 35 MIT 5 38 N L Fd Ejty Securities 15 96 17 44 Nat'l Drvt lw 9 4) 10 15 Baianc 9 99 N L Dryt LA 4 60 4 V6 Sr Bond 7 27 N L. So Irxm 5 4 4 4 D'Vtdn Eaton A Howard: 1 70 8 X' Stk Pref 92 8 Bam Fd S S5 5 7H Incom 8 34 N L Fxrsq 8 13 8 82 Sr Stork 8 36 9 X) F Gwfh 5 ?0 5 93 ' Grwth 54 6 6 0 none F 6 6 6 64 OPPenheimer Sixxil 9 23 10 Fd 9 02 9 73; Aim Stck 09J Fd 6 15 Fnd Op Federated Group h 68 9 49 Inrom A 8 82 8 95 Leadr 00 N L B 1881 Fmpre () Mony 10 32 N L. FB Tax 17 55 (1) 4fh Emp 7 33 F 8 01 Time 12 96 N L Tax Fr Pioneer Funds U 10 15.50 Fd P.on Fidelity Group: Pnce Rowe 8 68 N L. Bnd Lpt Grwth 9 8? (2) Dest Fd 25 17 70 Pro Fund Svs Prixi MiifV-10 44 N L YORK P3)- l'a 31 214 7 1.10 16 76 lv4 2T 21 Fri- 60g Faberge 9 faircmd X Hi ; FairmtF 68 4 , Farah Mfa 16 Fmrt SB A 10 lb Firsne I) contracts I 12 36 20 8 9 11 24 61 6b 39 7 86 8 E Syst 4V? 30 64 264 .56 13 ,80a 16 20 11 .80 11 8 1.60 5 14 4 72 10 E E 40- - 52 9 M ,400 Dei Mont Dennisn 42 9v E stimatwd volume Frozen Pork Befket , Deere 33v, Disney speculative m com overcame supoort influenced bv strength m sovoeens The outside markets were tower. Prices 12,000-square-fo- ot free-standin- APj - Saies. : losing prices and net change of the 10 most cKhve stocks traded on the New York Stock E xchange at 4 p.m. Friday. 49 day pm. 3pm Ten NE 29 (UPI) paid delivered 93 score 100 a m. Noon p.m 11 2 High Si - Butter market Included in the first phase will be a combination Smiths Food King and Smiths Drug King operation. Additionally, there will be g structure to accommodate a band, restaurant and other businesses. 40,000-square-fo- Arra;es -s Net chg. Pet. chg. sell Dairy Markrt The new center will be known as Teton Plaza and will be on 22 acres. LaVaun Cox, formerly general manager of public and employe affairs, is now a deputy vice president of public and employe affairs. He has served in several capacities with the company and is a former member of the Utah State Senate and past president of the Utah Press Assn. Range of p 26 37 15'4 . CHICAGO Plaza Planned In Idaho Falls R. 2,086,800. 47 14 52 under professional Parade Joining the nations largest commercial bank in raising the rate were such institutions as second-rankeCitibank, which led off the parade at 10 a m., third ranked Chase Manhattan Bank, the Chemical, Wells Fargo and Crocker National banks and the Marine Midland and Irving Trust companies. The prime rate is a banks charge on loans to its most credit-worth- y corporate customers. While it is not linked directly to consumer or mortgage loans, its movement can signal the direction of interest rates in general. But Conaster said he doesn't expect "any move in consumer rates, at least for the next week or two weeks. The Bank of America economist said the prime rate increase comes in a period when interest rates are abnormally low relative to the rate of inflation. Inflation Forecast The government is forecasting inflation will go over 6 per cent this year, and this would normally call for an 8 to 9 per cent prime rate," he said. But rates are depressed because loan demand is relatively weak, reflecting manufacturers wariness of making new investments for plants and equipment, he noted. a modest Still, Conaster forecast further increase in the prime rate by the end of the year. The major factor in Fridays hike was the steady increase recently in the banking industrys own cost for fumds. d DOWN Mr. Cox 362,900; 57 14 26 29 25 300. Led Off k 4i Grain Friday trade moderate, steers and Cte betters steady on iimitro sates Few loaos said. Standard & Poor's index of iiX) industrial stocks picked up .33 to 109.39, and S&Ps composite index rose .30 to 99.03 as of the 4 p.m. close of the NYSE. NEW YORK (UPI) - Dow Jones closing range of averages: Stocks Low Close Chg. Open High 30 Inds 923.17 925 97 932.58 928.34 - 2 90 241.67 20 Tms 238 56 24.26-01- 5 239.82 15 Utils 11040 111 00 109 99 110 46422 312.32 314.51 65 Stks 3)1.11 312.95 0 69 Transactions in stocks used in averages Friday: Industrials 1,406,000; Transportat- Bid Wheat trig end d "The market state. There have been negative and positive factors in one day, said Alan Shaw of Smith, Barnet, Harris & Upham. 8 252 2.32 Chess p39 j 4? Chris Craft 5 21 3 450 )6'4 Chrysler 231s-39 65 20m Cm Gas 1.64 34V ClT Fin 2.40 9 110 26'27w Citicorp 1.06 8 265 59 57 Cities Srv 3 7 271 12V 14H City Inv .80 7 695 32 CieveEl 2.64 8 76 p33'-80' 4 71 CocaCol 3.08 15 530 p73W .88 12 399 27 23 24'; Colgate 29 31 28 Col Gas 2.24 -11 7 11 Col Pictures 31 29 284 CmwEd 2 40 10 29 37 Comm Sat 364 Comoutr Sci 9 8V 6 97 22'4 23 Cor, Edison 2 5 25 22 27 ConsFd 1.40 8 24 26 vj 21 Con Frgt 90 8 34 8 47 Cons NG 2 425 7 7 6 ContiAir Un 10 482 3533 38 ContfOil 1.40 9 646 16 14 17 ContTel 1.16 10 246 21 20 26 Control D .15 8 3!) 7lv, 59 CornG 1.52a 13 28 33 Cox Brd .55 8 44, CPC Inti ? 10 497 3; rn: VOLUME 35 CITY 800; 00 3, 1977 is in a very confused Dou-Joik- 1pm. barrows and gilts active; 75 CHICAGO (UPI) - Wheat and com higher, except few lots over were irregularly lower, oats mixed and 3D 27D lbs. lithe change. head U S. soybeans substantially higher at the close 3 lbs. 2? lbs. 44.25: on the Chicago Board of Trade U S shipment 276 Its. 41.00; Friday to 5 cents; com off Wheat was off to 39 314 50. Sows lbs. steady shipment to oats up 3 to oft I; and soy 58 cents lower. U S. Its. 36 00. beans up 30 to 4. SOMOO tbs. 37.0037 50; boars 350 lbs and OW fancier 28 50 Barrows and gits 3 50 fa unoer crop soybeans futures remained Estimated volume 424 contracts. buying pressur throughout the ses3.75 higher tor the week, except weights JU0 lbs; cents per Ib and Live Hogs 75 to sion on encouraging export potential over 270 lbs. 2 50 higher. Sows of the restraints lifting trading against 2.,'fc higher; saleable receipts 10,800 this Hunt Texas. the wealthy family of 0,600, ast year Keek; last week weakened cents to 1 Friday, May But one analyst noted that reaction to that report, published by the Middle East Economic Journal, a weekly, might not surface until early next week. D.N. Rose, formerly manager of administration, is now vice president of administration. He has served in several engineering and administrative positions with the company. CHICAGO (UPI) - Closing range of Prev. futures traded on the Chicago Mercantile 3370 Exchange Friday Prev 34?$ Open High Low Close Live Beef CaWe-4Mlbs; cents per 3400 3530 3585 The prime rate had been at (i'i per cent since January, and Fridays move w as expected. "As the cost of short-termoney goes up, the price goes up. Its a short term supply and demand situasaid R. Gene Conaster, senior tion. economist of the San Francisco-baseBank of America. An analysis of "the cost of funds and other factors led Morgan Guaranty Tnist Co. to its decision, a spokesman New York Stock Exchange Exporting Countries had decided to abandon plans for a 3 per cent oil price increase in July was seen as possibly cooling inflation worries. a staff engineer and as director of rates and planning. Coin Silver Metre (UPI) - Livestock Friday. Cattle 100; sales insufficient to estatxish an adequate test of the market KANSAS - 5 points higher 5 contracts. out. The Market In Brief tion of Petroleum Mr. Heiner Mr.Groussman iPd'Cates toHowng f.gure is tract. on r laths Lower case ietters appearing ,n ront of the closing price indicates that once was on another stock (b Boston Stock Exexchange change, ic) Cincinnati, (d) Detroit, (ul Midwest, (c) Pacific.- (g) NASDAQ. the over market reported bv the National Association of Securities Dealers ki insnnet. the block trading system used by institution. Stk Oiv 'e Sts. CIS. Ch9. Hi. Lw. up NEW YORK (UPI) futures closed Friday across the dos'd Sates NY SILVER COINS: Many of the major commercial banks hiked their prime lending rate point to B 2 per cent Friday, reflecting the higher prices the institutions are paying for the money they are lending NEW YORK (AP) nation's Page 7 Section C 1977. n; 497.00 502 50 507 90 513 30 516.70 14, 1977 Saturday Morning, May to The Tribune FALLS Price Rentals, Inc., division of Price Industries Corp., Salt Lake City, announced it will build a neighborhood shopping center here. first Construction of the phase will begin this month with completion scheduled for November, f Engelhard Base price for refining settling and urv fabricated goid 148.65 up 0.95 per troy ounce. Selling price, fabricated gold 0.98 per troy ounce. Fi nance je Social i 497.00 496.00 506 50 502.50 5)1.50 509.30 507.00 516 10 516.00 512 50 521.50 521.50 518 00 price on previous and 1 Top Banks Increase Prime Rate IDAHO caP'tai distribution, i x ' ed!videna. wi when issued. wt ; warrants FRACTIONS (f) indicates faMow n 3?ncts,;ng f gure is traction () nbicates following ttgure is fraction in Mths, (rl following figure is fraction m 2S6ths; '($) following 350 ton Ma rk-- Mil ips showed a net loss of alxiut 18 points in the five sessions that preceded Fridays trading, partly reflecting concerns over the nations credit policy and the prospect of a hike in the prime rate, which had been unchanged since January. Despite announcements Friday by the nation's largest banks of a hike in the prime rate from 0 to 6 s per cent, the market remained stable then experienced some bargain hunting by traders, analysts noted. 'Its an almost classic example of the market anticipating a developsaid Monte Gordon of ment, Dreyfus Corp. Analysts also noted a variety of other factors influencing traders. A news report quoting sources as saying a majority of the Organiza eceivership Board of Trade HANDY AND HARMAN SILVER tons. NEW YORK (UPI) - Handy and HarSpot lead pound lower with buyers man Friday quoted silver at $4,796 per 3-394 and sellers pounds per ton, for- ounce, up 7.1 cents frm Thursday. with buyers 391 and ward unchanged COPPER FUTURES Viters 391' pounds per ton. Sales 4700 s. NEW YORK (UPI) - Copper futures s Spot zme pounds higher with buyers Friday closed 50 points higher 1 Sales 3,612 contracts. and sellers 371 pounds per ton, forCOPPER: ward lit pounds higher with buyers 380' 0 toxi sellers 38044 pounds per ton. Sales Ib; cents per Ib 1.400 tons. s I Soot silver 3 90 Pence higher with 279.10 end sellers 279.40 pence, 3 (honttis forward 3.80 pence higher with Vvers 284 60 and sellers 284.70 pence, 7 Wronths farward 4.50 pence higher with vers 293.50 and sellers 294.50 pence per foy ounce. Sales 125 lots. I PRECIOUS METALS B Bid. NEW YORK 0PD - New York Silver Settlement prices on previous and dost. tyres closed Friday 70 to DO points fewer Sales 10,000 contracts. NY PLATINUM: Y SILVER: Metres- - M trey oz; S per trey Prev. cents per troy oz Open High Law Close 5,000 trey Prev. 158 90 Close 159 90 159.10 159 .30 Low High 159)0 Jiy 477 ,o0 161.60 482.00 479.50 476 50 162 60 62 0 162.50 482.00 162.30 Oct 478 20 164.50 165.60 165 20 164.60 481 30 481 30 477.10 165.30 Jan 480 70 67.50 415.50 479 00 479.60 168.30 167.90 16? 90 Apr 486 20 170 90B 170 50 490 40 485 00 485 10 170.708 Jly 173.50 499 00 493.00 493 20 494 30 173.900 73.808 Oct 3 3 b New York Slock Exchange: Final (Quotations MurkH In llrifT Ilelul Markets NEW YORK (UPI) - Metal prices; points lower. Aluminum, primary, 99.5 per cert plus, CHICAGO SILVER: Q Bd troy oz; pure, 50 ib. moots 5100c lb. Antimony, domestic, 99' per cert pure, Open High Low l.o. b. Laredo, Texas, bulk 175.00c Ib. Cooper, electrolytic, delivered U.S. 482.30 477.00 Ib. Lead, common, U.S. primary producers 4B8 50 483.00 31 00c Ib.; U S. secondary 93.50 480.50 31.00c Ib. producers 499.00 494.00 99.9 per cent pure, boxed Manganese, 00 499 50 505 00c Ib. 57 regular, 509.50 505 00 Nickel, electrolytic cathodes, f.o.b. Port 515.00 510.50 Cwbome, Ont., 241.00c to 519.00 516.00 Platinum, soft, 99.5 fine, producers 524.50 533.00 Tm!) Ul The board of directors of Mountain Fuel Supply Co. has appointed several new officers, the company announced. A.J. Marushack, formerly deputy vice president of operations, is now vice president of gas operations. He has been with Mountain Fuel since 1956. fixed-incom- $158.25-- ) 1 4 4 Mountain Fuel Supply Names Officers e They also share with all obligations the risk that interest rates will rise greatly. If new issues should be sold at some 59.50 dividends can lie deferred without receivership. Also, preferreds do not have a fixed redemption date. Most debenture holders will receive at least par when their ixtnds mature, regardless ol the level of interest rates at that time, but preferred stockholders run the risk that their holdings may never be worth par in a time of high interest rates. 1 Market Up Despite Prime Rate Rise '', No h'h'f IV) ?td 06 A Fea Weyxjr Flyng Diam FfQrtHfA . 7 28 9 114 r3 336 46 X4 5 8 19 2) Ifttfe 24i 21 75 J) . . 4. A j V 164 ?4 18 8 27' i y f. t t 4 GrdCent 3U GuiHtrm id HuskvOf 80 204 Lee Lift .60 L T V ( p whj 1ft 32 PacNW 15 Rancher Fx 12 SunoOtl 20d 17' ? Svntex 1' 1 Umv Cx U 9 Ind wts 4 3 Co War1 5 18 5 7 14 8 II 6 131 22' 12 150 9 20 32 9 43 24 831 16 21 I 8 3 U 19 2) pl3 1444 |