W hat's I/e ss. Business and Itinane W oild Wade
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Bt ciness and Finance
EARS, Roebuck net dropped 3 6%
to $1 6 thnn cm S , cn!es
decrease in the fiscal second penod.
The retailer cited higher operating
margins, interest expenses and inven-
tory provisions K mart, in contrast,
said its profit jumped 10.6% to $89.7
million on a 9.6% sales rise
m P e
* * *
Chrysler could conceivably pro
duce a plan to eliminate needing U S
aid, Treasury Secretary Miller said
Despite this observation, he reiterated
that the ailing auto maker would amb
ably require government help.
ory u Page
* * *
Merger and acquisition plans that
big concerns must report to the U.S.
would be reduced In number under
FrC -proposed changes. The new rules
would exempt about 20% of the trans-
actions currently being filed, the
agency said.
1S oY aa P s 2
* * *
General Growth Properties got an
offer of more than $265 million for its
holdings from three investors, includ-
ing A Alfred Taubman The company
recently spurned a merger plan
1$ rs ' 51
* * *
Worker-protection statutes in Wya
ming are about to lose U.S. Labor De
partinent approval, the agency said.
An official explained that changes a
year ago made the state's program
less effective and more cumbersome
to enforce.
1$ orv m
* * *
Money-market securities are be
corning more difhcult to sell, due to le
gal or self imposed curbs on the
amount of those instruments institu
tions can hold, lenders are finding An
analyst says this will add upward
pressure on interest rates for private
borrowings
5torv on P e 201
* * *
Short interest on the New York
Stock Exchange sureed 6,1% to a rec
ord 58,385,887 shares during the month
ended last Wednesday On the Amen
can Stock Exchange, short Interest
rose 2 7% to 5,600,154 shares
ISbn on Page in
* * *
Peilec Computer agreed to let
North American Philips buy 45% of Its
common for about $56 1 million Phil
ips is to make a $15 a share tender bid
and Pertec is to issue some new corn
mon at the same price.
Ittory on Poon it
* * *
Firestone Tire profit fell 35% to
$10.4 million in the fiscal third quarter
on an 8% sales gain The company
said it plans to shed its Australian unit
and may discontinue other foreign
operations.
IStory on 4)
* * *
The UAW targeted seven key Gen
eral Motors plants for “minlstrikes”
next week. The closrngs are related to
dIsputes over local production stan-
dards, a union official said.
IStory on Psgo 1)
* * *
Pay Less Drug Stores Northwest
management will urge the board to
clear the purchase of all the compa-
ny's common stock for $26 a share, or
$114.4 million. The acquisition would
be by a concern organized by Kohl-
berg Kravis, an investment firm
)Story on P s Sb
* * *
Fuqua was charged by the SEC
with making an illegal tender bid for a
large block of Hoover Co. shares. Fu-
qua didn't make required filings on
the offer, the agency said
ISbory on Ps e b4 )
* * *
Oil-import quotas set as part of the
Carter energy plan are less urgent
than originally thought, oil observers
suggest. They say the U S. Isn't close
to hitting the ceilings set by the Presi
dent
iStory on Pa I
* * *
Transco Cos. and Algonquin Gas
Transmission plan to build a $420 mil-
lion pIpeline. They agreed to import
Canadian gas through the line to the
northeastern U.S.
titory on Pat. ib
* * *
Markets
Stocks: Volume 38,880,000 shares. Dow
Jones industrials 888.01, off 0.51, transporta-
tion 270.35, up 0.04; utilitIes 109 51, up 027
Beads. Dow Jones 20 bonds 88.02, up 0.19.
Commodities: Dow Jones futures Index
413,20, up 3.60, spot index 401.14, up 3.26.
Wortd Wide
CARTER'S AIDES mapped strategy for
a UN debate on the Palestlitian issue,
The decisions of the high-level meeting
were telephoned by Secretary of State
Vance to the President, who Is vacationing
on a MississippI River steamboat Carter,
meanwhile, dealt with the apparent disarray
among his advisers by Instructing Vice
President Mondale to handle any problems
on the Mideast that may arise.
Diplomatic sources said the U.S. may
seek a delay In the Security Council debate,
to begin tomorrow. U.S. Mideast envoy
Strauss, who attended the high-level meet-
ing, failed last week to win Israeli and
Egyptian support for a planned U.S.-spon'
cnb-M i ' AIbbtInTb giving gibnbd d cbbppnrt In
Palestinian rights.
U.S. offtctals reportedly hope to put
off the debate until mid-September, af-
ter Prime Minister Begin and President
Sadal have met in Haifa.
In New York, black supporters of UN
Ambassador Young met with Israeli envoy
Yehuda Blum. Blum told the leaders of the
Southern Christian Leadership Conference
that Israel ‘regretted” the group's state
ment supporting Palestinian rights. Young
resigned in a controversy over his unauthor
trod meeting with a PLO official
Meanwhile, Lebanese authorities re-
ported tha 26 villages In the southern bor
der area were shelled by Israeli gunners
and Christian militiamen. Eleven people
were reported killed In Tel Aviv, police
said two bombs In an amusement park
wounded three people.
* * *
Eighteen more Kurdish rebels were exe-
cuted in Iran in the Islamic regime's cantin
umg crackdown on their fight for autonomy.
The executIons, 13 of which were in the
western city of Paveh, brought to 29 the
number of Kurds put to death by the govern-
ment
In Tehran, the government expelled five
more Western journalists. Those ordered out
of the country Included correspondents for
British Broadcasting Corp., the Financial
Times of London, the French magazine L'Ex '
press and two members of a West German
television crew.
* * *
Ten more New York City banks were
robbed, continuing a string of holdups that
the police commissioner called ‘open season
on banks,” There were five bank holdups
Monday, one of which resulted In the shoot'
Ing death of a young teller List Friday, a
police officer was killed while trying to stop
a rio*)ng hank wthk r
* * *
A Brink's armored truck was also robbed
by three gunmen while It was parked out
side Chase Manhattan Bank's headquarters
In the city s Wail Street Area Police said on
estimated $100,000 was taken.
* * *
President Carter urged Americans to buy
U.S. made goods even If similar foreign
products are cheaper He made the remarks
during a radio talk show In Davenport,
Iowa The President also asked the audience
to support his “windfall” oil profits tax, a
theme he has stressed in his Mississippi
River trip
* * *
The Federal Elections Commission found
“no reasonable cause” to believe Gerald
Rafahoon's advertising agency made urn
proper in kind contributions to the 1916 Car-
ter general-election campaign The panel
voted 4 2 to close the case, which involved
$15,080 In billings that exceeded the amount
called for In a contract.
* * *
Decisions on nuclear plant sites should be
made with the Involvement of state officials
and citizens, Pennsylvania Gay. Richard
Thnrnbnrgh said. He also told a presidential
panel probing the Three Mile Island acci-
dent near Harrisburg that the Nuclear Reg-
ulatory Commission should upgrade licens
Ing and training requirements.
* * *
The United AUto Workers plan to stage a
sIx mInute work stoppage today to protest
high gasoline prices and what they see as
the lack of a national energy policy. A UAW
spokesman said about 1.5 mIllion members
will use the time to write Congress and the
President,
* * *
Indian PresIdent Neelam Ruddy began a
round of political consultations to try to re
solve the political crisis brought on by the
resignation of Prime Minister Charm Slngh.
Slngh asked Reddy to call elections, but for '
mer Defense Minister Jaghvan Rain has
asked far a chance to form a government
Slngh quit when he lost the support of the
faction led by former Prime MInIster Indira
Gandhi
* * *
The Soviet Union accused Washington of
stalling negotiations on demilitarizing the
Indian Ocean, The article in the Communist
Party newspaper Pravda said the U.S. has
refused to set a date for resuming the talks.
* * *
NigerIa has told Moscow to withdraw
most of Its military advisers from the Afri
can nation, U.S, Intelligence officials say.
The Russians have reportedly been accused
by their host of having a “condescending at
titude” toward NIgerians. Nigeria Is a major
supplier of oil to the U.S.
* * *
A Thai freight train rammed a commuter
train south of Bangkok, killing at least 65
people. Railway officials reported that more
than 250 others were Injured. They said a
ltchman failed to signal the freight train
to stop and that be fled after the crash.
* * *
News apera In El Salvador published the
communique of striking workers who are
holding U.S. textiles executive William fool”
stein at a plant oulalde San Salvador, the
capital, The workers demanded publication
of the statement before discussing Boor-
stein's release, He was taken hastagn last
Tuesday during labor negotiations,
What's News
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