European Stars and Stripes (Newspaper) - April 29, 1963, Darmstadt, Hesse                                Mondoy april 29, 1963 the stars and stripes Page 23 business attention remains riveted on steel Industry by Jack new York a attention remained focused on the a Eccl in Dumitry last week although much of the excitement of the Price in create had  steel companies adjusted their Price boosts to place them selves in competitive positions a  committee began hearing on steel pricing and speculation increased about what the steelworkers Union will do about seeking higher wages. The tune called by . Steel the no. 1 Pru Durer which posted the lowest Price increases was Fol Lowed by other producers who made downward adjustments. The boosts on steel plate announced by some companies evaporated be cause . Steel did not increase prices in thin category. In the Light of Lack of opposition from the White House and of heavy demand steelmakers were confident that they could make the higher prices stick even if steel buying Falls off inter in the  the curly san pcs of its hearing the St a Etc Blouse economic com Mittee was told that since 1958 the labor Cost of producing steel has risen much Leas rapidly than in the preceding 18 years. A Labo department specialist attributed this to increasing productivity Anda production increase. Secretary of Commerce Luther Hodges asked steel users not to make the steel Price Rise an excuse for boosting the prices of  goods above actual new costs. Price Annii lists said items con Taining steel account for High per cent of the total Cost of living Index and that it the effects of the Price increase Are confined to this items the upward push on the in Dex will be slight. The steelworkers Union has Yetto announce a decision on asking higher wages but the Price boost was expected to bring such a re quest builders trap9 tenants with Golf course lure new York up Tho Man who builds apartment houses in a City today May have Hla problem in getting them filled but rare in deed la the City builder the Mua attract tenants with the lure Orten employed now in less crowded areas a Golf course. When american cities began bursting their seams in the Post War building Boom some course vanished under a wave of Bull dozers papers and Hom Sltes Andin a few areas golfers grew concerned about which Way to  with As Many golfers As there Are in the United states this condition could not endure for Long. Some figures show that More than 980 courses were opened last year and there Are plans for open ing perhaps a great a number this  Don t come cheap. Builders say it takes an average of about114,000 a Hole to set up a course. But in some areas developers of real estate projects have found that recreational facilities an particularly Golf courses Ore Al most As important As Good school systems in Selling lots and Homes. In Midwest too nor Are such courses limited to the vacation or retirement areas of the South and Southwest builders in the Midwest and lakes Tat have found that the attraction of nearby Golf courses is Anaid in getting their properties filled  of the courses Are relatively simple others in area where retired and Well to do Bull Ess and professional men Matyiko up residence Are More ornate. One of the Moro elaborate urses which opened recently we the Tucson National Goll club i Arizona. It was aimed to attract lie Man in Hli 40s who is plan in not or retirement it was developed by William Nanlal Chicago businessman who earlly admits that there would e Little profit from the Golf club done. But Naniel believes it will be Anona to 111 up about 500 nearby lome states which Range in Price rom $9,000 to $30,000, not including the Home. The Tucson layout is estimated Hove Cost about 92 million and no Ludig a clubhouse. Finnish Sauna Baths and Sola run or men and women. The touring professional of the club will to Jack Nicklaus. National open Champion. Cleveland firm to open Plant in Florence Italy Cleveland up manufacturing and marketing facilities Are being established in Italy by Cole Brook Mills inc. Subsidiary of Bobble Brooks.  Salt Mun. Bobble Brooks president said the new operation Berbeco. So Al will be wholly owned subsidiary of  Pilot Plant now being equipped new Florence is expected to be in operation  is expected to make sweaters under the Bobble Brooks Europe . Label representing the newly formed profit sharing venture of Bobble Brooks and  . Of  will tilt italian designers rom Florence according to Morton Hul Colebrook president these de signs will be used or Colebrook and Bobble Brooks a Market Lithe future. Makers claim new Bandage speeds Healing Chicago up Johnson Athanson has announced develop ment of a new Rayon and polyurethane dressing which it said would Speed the Healing of  new dressing known As dry site draws quids away from the wound and deposits them in a pocket in the Interior of the band age keeping the wound dry the company , of its drying qualities the firm said the dressing can be changed less frequently than Gauze or other  initially will be made available to hospitals and phys clans in nine midwestern states. Distribution will increase As production rises the firm said Ani work is also being done toward developing a version for the con Sumer first Aid Market. Life insurance sales increase Hartford. Conn. Up sales of Ordinary life insurance in March gained More than j300million to $3.195 billion the use insurance management association said. Industrial life insurance Sale declined during tha month to w93 million irom 1621 null lion a Yea earlier. Croup life sales Rose to 11.44billion against l31 billion March 1962. Business finance amex stocks continue Rise volume drops new York up Stock moved irregularly higher in mod Ruttely Active turnover on the american Stock Exchange last  prices continued rising volume amounted to 6,081,110hares against 8,072,567 the week before and 5,489,300 in the som week of 1963. Rig group formerly reinsurance investment again topped the Active list wet i a profit to King loss of i Point to 13 on 190.700 shares. It was followed by Knitter thereal estate firm with a furl Oss of % to 911.other Active highlights were brazilian traction up .4 to 4vfcafter the brazilian government Al ally made an offer for its assets Lynex up 6 on news the presi Dent endorsed the International distribution of birth control information and Mead Johnson unchanged a the venezuelan Oil Stock lumped sharply for the second straight week with Creole ahead1 on heavy turnover and Sinclair venezuelan up 5, Armour drop Armour and Carnation lost Ivi apiece in the foods while giant oods picked up 1 a. Helena Rubensten gained 2 in cosmetics lib erty fabrics 3% in textiles and Mew York & Honduras 5 in the metals. Mock truck slipped 214 in the autos. Padding ton Rose 3% in the liquor Section and puerto Rico Tele phone 4 in the utilities. Dominion Bridge sex  of North America Prog Ress manufacturing and Sun car los were up 3 or More Points. National rubber machinery tumbled new York up Tho 10most Active stocks traded on the american Stock Exchange Tut week slim Ctm a mho a � a � fuel cell car engines step closer new York up the Day when your automobile will a pow red by electricity converted direct of from delete fuel or gasoline is moved a step closer with the announcement of general electric la. Of a breakthrough in fuel Bellevo Loument. But in announcing the sign Lyl ont Laboratory Advance Guy Cults general electric Vlco Preil Cut and director of research said hat it Likely will be in the Dos ant future before the Public will o driving exhaust free cars wit engines that have no moving  research officials demonstrated at a news conference several working models of fuel cells opera ing on Oil and Gas. They explained hot they Point the Way to eventual of Mercoal application because hey operate at relatively Low Tern tera Tures. Previous experiments in his Field required extremely High  time away Walter c. O Connell manager Olge a direct Energy conversion operation said development of the Seuel cells and particularly their reduction to reasonable Cost Levels a Likely to take a rather Long  would be premature o con Nell said to expect wide comm Erica use of the Power cell before the next decade. But he in located thai extensive military applications May m realized in the not too Distant future. The be official said that a fuel cell has a potential operating of of Clency of Between 50 per cant and 70 per cent compared with Only about 30 per cent for a conventional internal combustion in  noted that be hat built fuel cell unit for the gemini two Man spacecraft that weighs less than an astronaut but u capable of generating the electrical Energy equal to a ton of batteries. I8mm tt.400ijw   4th mull �1 Zumft in & Over counter stocks jump to new 1963 High new York uhf stocks drove higher on. The Over the Conur Market last week with some Industrial Leaden scoring big gains. The National quotation Burea Over the counter Stock Index of 35 representative Industrial issues jumped 137 to new 1963 High of insurance Issue Wen Tim with midwestern life and Philadelphia use up 4 apiece to 77 and to 14. Respectively while Franklin of added 6v to 64. Bank of new York was a standout in its Section dropping 7 paints to j69 while Chase Manhattan added 2 to 84and manufacturers Hanover tacked on it to 57h.o. D. Bearle skyrocketed 12u to 123u, apparently in anticipation of profit statement to be nude a the annual meeting this  fruit moved up 7 to 77 and Kovar finished at 330. Up 1polnta. American Sterll ser at 24 Cannon Mulla common at 79 .ama.c. Nellson at 90 were All 3 Points better. Far West financial was thinly serious loser dropping 3 to w step production kept on climb ing Tost week reaching a three year huh or 2.521.000 ions Whicher Posont an Wittl Antcil 80 to 85 per cent of Titus try  automakers using up huge amounts of steel kept their production High turning out an estimated 154,000 passenger cars los week against 190,765 the previous week and 93,436 a year  exceeded u million can for the Calendar year raising optimism in the Industry that bar ring a steel strike 1063 production will be More than 7 million. The record was 7,131.000 in  motors reported first Quarter earnings of 414.3 million second Only to the fourth Quarter of 1962 when profits totalled Mot million. This compared with s374 million in the 1962 tint  company s worldwide Sale of vehicles totalled 1512.000. A recorder any Quarter. Car sales for the Middle 10 Days april totalling 244487. Set a ecord for the  for11 of april seemed Likely. An All time record of another ind was set when the Cost of Vang inched up by one tenth o per cent in March. On by climb Tho government estimated that he Gross National product total f All goods and services could Prince j383 billion this year in Lead of the 1978 billion predicted St january. In the first Quarter he Gnu ran at an annual rate o 572 billion up to billion from he level of the 1962 first Quarter. Orders for machine tools regarded As a significant economic and Factor Rose in March. The total if new orders was i73j9 million Ign list s2�5 million in february my w3.33 million i March 1962. Business in general and thei Tock Market in particular were Coura de by dividend increase by such big companies a Texaco american smelting continent Alcan and consolidated Edison. Veloon baling the railroads welcomed a  court ruling that the interstate Commerce commission Chrysler plans big expansion Detroit up Chrysler  it plans a multimillion Dollar expansion of its Warren. Mic stamping Plant to meet in Cresset demand for the company s cars an trucks and anticipated further in creases in  total of 337.000 Square feet 0 manufacturing space will be adds to the Plant. Vice president j. F Kerigan said. The Plant make parts for All Chrysler cars. The expanded facilities Are scheduled to be completed next year the announcement said. Acted without sufficient i ordering 14 lines to cancel new of rates on piggyback service be Iween Eastern cd ten and Dallas and fort Worth. Also on the transportation front Federal court in Chicago re strained the brotherhood of rail Road trainmen from striking against the Santa a Railroad. The dispute involves work rules. Briefly around the business scene the shoe Industry looks or 3 to 4 per cent increase i retail sales this  Sale food prices last week Equa Leda three year Low. Reynolds metals co. Says aluminium bearcats it will introduce win be a Salvage value of one cent each. Socony Mobil Oil co. And Texas Gulf producing co. 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