European Stars and Stripes (Newspaper) - April 22, 1963, Darmstadt, Hesse Monday april 22, 1963 the stars and strips Page 23 flood of steel Price hikes washed Over business new your a the dam broke for Stet Price increases Las week. The plug was pulled when corp. The Netlon i biggest producer joined in the selective boosts initiated eight Days previously by Wheeling steel corp. Big and Small companies come tumbling after and soon the move had spilled through Vertu Nelly the entire Industry. President Kennedy i i rated he had no into tinn of trying to in lathe increases. The boosts averaged about 3 per cent with . Steel posting the smallest one the increases covered less than so per cent of production. Many questions remained to be answered in the Wake of the Price boosts. They included will Thore be n Rise in prices of consumer goods using Stool will the United steel worker Union Harden it demands will wage Price stability to affected generally most steel users said they were studying the new Price schedules and that it was too Early to Tell what might Union remained silent. It can reopen its contract for wage negotiation May 1 and would be free to strike 90 Days won for too Early also to determine the effect on a wide Range of wages and Pulci s. Or. Pc incr hns Bald that what he wants to avoid is an inflationary Lerl Industry publication Iron age. Expressed the opinion that deman 1 for steel is Strong enough to sustain most Sappol. Chol Rynn of one thine Ford Whiz kid quits in executive shift Detroit up Ford vice president James o. Wright passed Over when Arjay r. Miller was appointed president of the nation second largest Auto maker has an nuanced hit one of Tho 10 Whit kids which included Secretary Robert Mcnamara who left Ford soon after being name president was reportedly unhappy with the recent shuffling which downgraded his former position office president of the car and truck was named to the credit and insurance group Whon Miller was named to take Over the Euto firm. Miller is also one of the a group of former air Force men who joined Ford Ingroup after world a ii. Wright was to take Over his new position the Day his resignation becomes Ford ii said. We accepting or. Wright s resignation with regret in his years with the company he has made significant contributions in a number of management positions. We offer Humour Best wishes for every Success in the car truck group at Ford which will be discontinued con of the company s two Pron Copal product . Ford a Lvi lion and Lincoln Mercury dial Slon. Under the reorganization announced earlier this month when Milller was named president Thos divisions will report directly the a ecu Lve offices which con Slot of Ford. Miller an Charle h. Patterson who was named executive vice president. Wright 50. Joined Ford in Rimsas a special staff assistant in the office of the president. He a elected to the Hoard of directors in 1961. Of cat Iii a s image continues in Miller Over counter issues firm new York up insurance Issue paced a generally firm Ove the counter Market last National quotation Bureau of 35 representative Indus trials Rose 0.12 on the week. The Index reached its weekly High o monday at 131.92 and us Low o thursday at 131.1&lincoln notional use sea headed the insurance gainers up followed by Aetna life up 6. An United services life up 5.among he industrials. Eth Carp. A added 2 a after direct proposed a two for one split in it company s class a and Stock and also a boost a co divider in 1957. He Wos elected vice indent and named general Man or to the Ford division. He was pointed to his present position november 1960. Business finance Detroit a when Farmers. Miller of Shelby. Neb., be be the father of o Ion in 1916, named him . Less than a month after 47th birthday. Arjay Miller has been named the Venth president Ford motor m., one of Intel Ion s largest and nine ther air Force Nti tical n f f 1 cers owned Ford 1946 As Henry Ord ii and Ert Breech Earch cd Desper Tely for Talent to reorganize the lumbering giant of group was one of the Farsi f the now fell or management earns and things happened so ast when they took Over they Miller Ere dubbed the it was from Whiz team thai Rooert 5 Mcnamura emerged to become president of Ford in no Ember. I960, a Tab to held Only i weeks before joining the Kennedy Cabinet As Secretary of de reminds one of Mcnamara with his carefully combed hair an its Gold rimmed spectacles. Elk Mcnamara he chooses to live inthe University atmosphere of an Arbor rather than the posh Gross polite or Bloom Field Hills area where most of the Auto execute i congregate. And also Tike Mcnamara. He a Weste Ner. He received his Earl education in Nebraska and was graduated from Urcla with a it Iree to banking and finance. Grod uate work at the University California followed where he a teaching assistant later worked for the Federal Reserve Bank in san his air orce stint h met Mcnamara while attending statistical school it Harvard. At Ford he has Wen an i sideman. Closely connected with the staff organization of the Grawn company hut rarely exposed As speech maker or at other Publ has been his maj Field. He has served is ass Slan measurer. Assistant controller and Ter controller. Two years ago he As elected vice president for the move which presaged is presidency came feb. 1, 1962hen he was named to a new Job f vice president staff group and As Given Many of the jobs for Lerly handled personally by Henry Ord office has been adjacent to Ord s at the top of the Glasshouse of the Ford Central of be building in Dearborn is Mostom Only called. Unofficial re Orts say he was paid some 300.000 lost year trailing Only Ord and retiring president John his first name is in Jual. Millet is a rarity among Ford presidents in that he also has Middle name. Henry Ford his on Edsel and his grandson Henry had no Middle names and neither does Dykstra. Miller s full name is Arjay Roy Milter. Miller stands 6 feet 2 inches weighs 190 and his spectacles Are Strong bifocals because i can t seethe big e on an Eye Chart with glasses professes a Basic under standing of things mechanical although i would t want to make too much of it he likes travel was in Europe with his family last summer and plans another european vacation this summer. He Golf Handicap is 18 and he likes a Little Hunting and skeet shooting amex stocks moved up on Active trading new York up Stock moved generally higher in moderately Active turnover on the Amer ican Exchange last for Tho period expanded to 6,972567 shares from 4,626,560in the previous Holiday shortened week and compared with 4.420270shares in the same week last year. Heading the list of Active stocks rein Durance investment with a gain was r1c group formerly in the Cal pol it Ida i by. He is a moderate Republican and adds i for that hns happened to the Economy ii could be a Lilb lip in he i it Thi fan Hinl presiden Kennedy stayed out May help what he sees As a new Confidence about business while to Teresi was i Mien a on i he in a Milf it Price to to announcements. I be i int Yuetlon reached the he Ninsi level in three years. Oil put Lam h Eek i fit tiled 2.4r4.nno inns up 2.1 a i event fro the previous week the Industry operated it in estion tort to per cent of its of the heavy or Mirt came from the Putnm Nulle Industry where an estimated Pas Senger con rame off Assembly line last week this compared with 152.694 the week before and 146.213 year continued heavy hut to Ite of gain Over a Vear ago Fel Lff somewhat. Dealers delivered 19.063 cars in the Farsi Days of pril. T per cent above a years ller and a record for the period. I the first three months of this ear however sales were 10 per Cut above a year move toward smoothing labor relations in the Auto Industry was made when Ford motor co an general motors corp agreed to set p joint study Romm Altees with the jolted Auto workers Union to pre Inre for new contract negotiations 10 it year other Yordy Turki tip elsewhere in the Economy per Enol income housing i torts and dust la output Rose personal income advanced in March to an annual rate of $452.7 billion about j1.6 billion above february. For the first three months of this year the rate wass45z1 billion. $20.1 billion ahead of he .962 first Quarter the rate of housing starts last month Rose to the highest in four months 1.494.000 annually this was 17 per cent ahead of the february output of factories mines and utilities reached b record i March. The Federal Reserve Board said its Index of Industrial production Rose to 120.4 per rent of the 1057-59 average from 119.4 february. The old record of 119.8 was set last september in the aerospace Industry Boe ing co. And the Akl Cio machinists Union agreed on a new con tract averting n strike thu government sources nud said would hamper the nation s pour and de sense program elsewhere around the business scene new York life insurance co. Issued a $7 million policy on the life of a California business Man. Trading to Stock of the bankrupt new Haven Railroad Haileen discontinued on the now York a of 0 million for rocketto Tho Bolair Force contract motors was awarded chemical co. Lockheed propulsion co. And Aero it Gen nil corp big Bank merger in California gets Board of san Francisco up the Board of directors of citizens National Bank of los Angeles approved a merr in the Crocker Anglo National Bank which would create the fourth largest banking system in California. Crocker Anglo Board of directors approved uie Raer Gei feb. 8.th stockholders of. Both Banks must approve the plan and Federal government authorization is also necessary before it con be carried out. The new Bank to be called Crocker citizens National Bank would have about 900 offices located from Yreka in the North to Cosu Mesa in Southern California. Combined assets would be s3jbillion. The new Bank would be one of the 12 largest in Tho United states. In California ii would be fourth largest a Ned Bank of America. Security first National rank Flos Angeles and Wells Fargo the merger would be accomplished by an sex Hange of Stock in the ratio of 1.9 shares of Rocker Anglo for each Sharp of citizens National Stock. The two Banks have More than a million depositors and employ about 7.500 persons. Ice Cream firm plans . Chain Chicago up arc Lei ice Cri us co has announced inn Fiu nation wide runt Hue Syl a of lot itt him Nho Swilliam by Kler. President did the first two units will no own cd March 15 for Nutler Rule. Kin openings six other Florida in leg Are planned Foi the next Lew months. The units featuring a Gay 90s Molly will up title under the name of "33 flavor ice Cream shops Brasier said the firm Pinna to open 100 shops this year and a additional 100 each of the next live . Exchange s most Active list new York up the most a calve Stock untied on the new York Alfh a lost week 4to Ktli. Tel r. I Mich i 1lmh to 0i. Oin. Lot in 100 la � is i
