The Los Angeles Times from Los Angeles, California • 26

26 Port I JAN. 23, 1 962 JM flngtltg Zimt Grace Buys FIRE LOSSES 't rwo divisions In the Los An-jj geles: 'area Parker Airtrait adjacent to the Intemaj tional Airport, and Parker Seal in Culver ACCORDING TO DOYLE Food Giant to Acquire Hard Goods Company Parker-Hannifin Plans Stock Split A special meeting of stockholders of Parker-Hannifin Cosden Pet. TOP BILLION FOR 5TH YEAR NEW YORK (DJ) W.R. Cleveland, has been Food Giant Markets, (Enterprises will continue chemical and Fire XEW YORK UNUSUAL OPPORTUNITY Trade Date' Used for Tax Purposes BY WILLIAM A. DOYLE an- called for Feb.

8 to consider concern, United entered into an agree- operate as a separate divi-lsteamship losses in the wmm with McvritiM nil mttmf esti- mV "f1; sion of Food Giant. States totaled an Petroleum'number of shares of the com- matprTST 209 ft43 OOn in n. -I W. Fntpmrisps Tnr 01 UOSden T. subsidiary, E.

Cumraines, i 1 1 1 i urnminps r- lltV9 WIA pAnMMl WfBCfS Mtap. tax N. T-II2-WA, iJL TmM. which it currently con-pany from 1,400,000 to 19GI, the National, Board president of Food Giant, andjerates the Builders Empo-of Fire Underwriters re- G. B.

Block, head of B. E. rium Stores," merchandisers Question When I buy or ing did not go so well. So, sell stock, my broker sends why did I have to pay that Enterprises, announced of hardware and hard goods trols. Cosden produces petroleum products and petrochemicals at refineries in West Texas.

000 and splitting the present outstanding shares on a three-for-one basis, it was disclosed in the company's me a confirmation si i premium price of The slip shows both a trade. ported. This was an increase of 9.Hi over the loss in 1960. It was the fifth consec 1USINESSES WANTED rapratanr Conponiaa mnd Individual! looking for going buuncuM if oarning, ihow minimum of $25,000 boforo Mim. Coll C.t.t.

3680 Wilshire llvd. DU. 2 M23 date" and a "settlement! Answer Because that date." Which of these two! was the price at which those lue ucuiaaiiiuii wm JU-: volve an exchange of stock)that lthe firm operating at of B. E. Enterprises for anlan annual rate in excess of just made Indicated value of mid-year report transaction is about public.

undisclosed number of million. Giant shares, the announce 000. I The corporation operates ment said. It is expected that B. E.

dates should I use to report; debentures were offered to buying and later Felling the public. i stock on mv Federal tax re-1 turn- I To understand this, you Ihave to take a look at the Answer The trade workings of the investment That's the date on which banking business. An under- you bought or sold the stock. (writing syndicate of invest- There's one exception to'ment bankers bought the de Cummings pointed out that this acquisition marks Food Giant's second step into the low cost non-food retailing field. Its first was the acquisition of Unimart, lQwxost distribution centersT in 1961.

utive year in which fire losses exceeded $1 billion. Among factors contributing to the increase were the multi-million-dollar fires in Stone Canyon and Topanga Canyon in L03 Angeles County in "November. 8 U.S. Firms Awarded India Dam Contract this. If you sell at a profit bentures ($50 million worth in this case) from Public Service at one price.

Then, the underwriters offered the debentures for sale to the investing public at a Municipal Bond Prices Rule Firm SAN FRANCISCO tf A group of eight American California municipal bond prices held firm last week in a "regular way transaction" (the normal way of trading in stock) during the last four business days of any year, that profit is taxable as the next year's profit. Don't ask me to explain this odd tax rule, I don't understand it either. Question I bought some Public Service Electric firms was awarded a $353, 962,631 contract for con struction of a dam in Pakis higher price. The price was i set at Awarded $1,000 bond. Million Contract in quiet trading.

On Friday tan which will be a key part the index compiled by William R. Staats stood That was a set price as DALLAS (DJ) Contracts of the vast Indus River Pe velopment project. at 3.37. A week earlier the all syndicate offering prices totaling $4,000,000 for con are. It was not subject production of actu rhancrp avs Inner aa the nftpr- was 3.39.

Pakistan's Water and Pow Gas 434 debentures, due in Major bond issues selling 1981, the first day that they ing remained "in syndicate." Iai0r mecnanisms usea me er Development Authority this week are $100,000,000 were offered for sale. I paidi If all went well and the de-(minuteman intercontinentaliawarded contract for the State of California School Building Aid, $1,000,000. Mo- $102,343 ($1,023.43 for were all sold, theballistic missile were award-k; tv, $1,000 bond) plus accrued iucJUiK.ut uii. eu lu I CJIltU JJ ICC 1.1 UlUtS XJl- svndicate stood to make vision of Lincr-Temco-Voueht ra- $1,250,000 Modesto High nice profit. That's why they! bv Autonetics Division istan t0 a SrouP headed by School District and are in business.

of North American Aviation.ithe Guy P. Atkinson Co. of 000 Torrance Unified School District. Inc. I South San Francisco.

Through your column I have learned that the buyer of a bond must pay any accrued interest that has built up on the bond. I don't complain about that. But I read in the paper that this offer- But, as you learned from reading the financial pages, that particular offering did not go too well. All 'the debentures were not sold. Eventually, the underwriting svndicate was broken up and the "PEG 4a of '81" Put your Los Angeles Office in this outstanding location! iL i -i ill 1 1 J- -Kb I livl Mv I1 I If I Jim ff -fife I 1WSPS VLj; EARNINGS Continued from 23rd Page became available in the open market at below the svndi- told shareholders that sales! cate offering price.

and other revenues for thei iqi -rosr in tC of But you bought those de- 111? II Hi: i 3 iii! i 1 il i aii, it i Si'ifW: m-i i 3 -If if 3 'iffl'fM $20 million, compared withj" while they were be-j The new, modem 22-story' Travelers Insurance Company office building is ready for occupancy in the heart of the Wilshire Boulevard business district. Class A construction From 500 to 80,000 sq. ft. available for lease Suites or full floor occupancy 825 car parking facility Fully air conditioned Restaurant Bank $17.9 million for 1960. j1 uuei "sn uie Preliminarv net income fordlcate- b0- naturally, you the first quarter of the the syndicate offering rent fiscal year, the threes Price-months ended Dec.

31. 1961. 1 Don be unhappy with Mock brokerage centrally located, convenient to transportation, shopping, and freeways. WIISHIRE BLVD. 4 block wett of indicate earnings of members of the under-! mately 55 cents compared iW'tmg syndicate.

They took; with 44 cents a share for the 3 beating when they; same period a year ago. jcouldn't sell the debentures; jat. the original offering Intl. EleC. Research iThat's the risk of the invest- International Electronic ment bankinS business.

Research Corp. reports for Doyle will answer repre-l its first fiscal year as a letters of general1 licly owned company, the 12 interest in his column. Ambauador Hotel contact: Exclusive leasing and management agent Coldwell, Banker Company 900 Wilshirt Blvd. 4322 Wilshire Blvd. WEbster 8-3111 I MAdison 6-0611 Copyright, 162, by United Feature Syndicate, Inc.

months ended bept. .30, net income of $452,571. equal1 to 86 cents a share on 167 shares. This compares with a 1960 net of $346,507, or 75 cents a share. Sales for the 1961 fiscal vear were $6,289,729.

against in 1960. This advertisement is neither an ofer-fa sell nor a solicitation of offers to buy any oj these securities. The cfering is made only by the Prospectus. NEW ISSUE January 23, 1962 1,500,000 Shares Southern California Edison Company Common Stock par value) confident tomorrow's security is made today. And savings is a joint venture between customer and bank.

At the Beverly Hills National Bank tenior officers will continue to make their experience and Price $29,625 per share Shell Oil Co. Shell Oil Co. and subsidiaries reported 1961 consolidated net income is estimated at $140,350,000. equal to $2.32 a share, compared with net of $144,588,000 or $2.39 a share in 1960. Interest in 6 Area Theaters Purchased Helm and Hoffman Enterprises, operators of six motion picture theaters in this area, announced that Sam K.

Decker, veteran exhibitor and distributor, has purchased for an undisclosed sum a one-third interest in all holdings. Decker will take an active part in the operation. Lamb Skin Prices Up NEW YORK A record price has been paid for broadtail lamb skins at the Hudson's Bay fur auction here. Jardox" Kur Co. of New York City' paid $33.50 each for 220 pelts.

knowledge available to all of our customers' Sydney R. Barlow, president BEVERLY HILLS NATIONAL BANK 9600 SANTA MONICA BEVERLY HILLS CR 5-6141 BR 2-1141 Copies of the Prospectus may be obtained from such of thi underwriters as are registered dealers in securities in this State. The First Boston Corporation Dean Witter Co. William R. Staats Co.

Socony Mobil Oil Company, Inc. Merrill Lynch, Pierce, Fenner Smith Incorporated Crowell, Weedon Co. Hill Richards tic Co. Blyth Inc. Lester, Ryons Co.

Schwabacher Co. IncorporatM tJATIOtM E. F. Hutton Co. Walston tic Inc.

Wceden Co. J. Barth Co. First California Company Incorporated Incorporated Incorporated Mitchum, Jones Templcton Sutro tic Co. Bateman, Eichlcr Co.

Stern, Frank, Meyer tic Fox has acquired the assets of GROWTH Wagenseller Durst, Inc. Dempsey-Tegeler tic Inc. Evans, MacCormack tic Co. Bingham, Walter Hurry, Inc. J.

A. Hogle Co. Morgan Co. Quincy Cass Associates Kerr Bell Marache Co. Stone Youngberg Republic Natural Gas Company STOCKS is a mutual fund with securities selected for possible long-term growth ot caoital.

Send today for This cquiition it lubject to certain reserved production payments. Free Prospectus and de scriptive literature. IBW IMI WW JBe BR WW mtorn csowih sioas sans 120 IrMdway. Ntw Verk 5, N. T.

mm wmm wm The undersigned assisted in negotiating the above transactions. Lehman Brothers MOIIUC CONTINENTAL 54. 50 TMUN0ER8IR0 JSH2 CHEV. IMPAU H2S FALCON i ,.4 559.00 ht j. Fully tou.ppd.

AH nalii tvailablt. our your trtwirt tr. CALL OL 2 3986 Chicago Lot Anielta Houtton 4 Gtnova GIBRALTAR SAVINGS New York 8an Frintiac Paris January 21, 1961. BEVERLY HILLS (HEAD OFFICE) 9111 WILSHIRE AT DOHENY BALDWIN HILLS: 3719 SOUTH LA BREA NEAR RODEO.