Chicago Tribune from Chicago, Illinois • 74

CHICAGO TRIBUNE, FRIDAY, MARCH 20, 1964 Section 3 REAL ESTATE NEWS ADVERTISING AND MARKETING INVESTORS' GUIDE JUST A LITTLE BIT KOBE Building 107 Full MARINA CITY TV ANTENNA TO CARRY ADS New Frozen Food Sales Fight Looms on Paper, at Least BY JAMES SMITH BY JAMES M. GAVIN ARMOUR CO. LEASED 34,000 square feet in the 430 North Michigan Avenue building yesterday, sounding the "fully rented" bell for the building. Actually, the building, built by the Apollo Savings and Loan association as both a new headquarters for the association and an investment, is 107 per cent rented. To bring the renting percentage back to the 100 mark, the building's architect, Fred Prather, will move back into the 110,482,367 average shares in 1963 compare with $4.36 in 1962 and adjusted earnings of $3.72 in 1961 and $3.90 in 1960.

This second largest motor vehicle producer is believed to get about 90 per cent of its total sales from passenger cars, trucks, and related parts. The remainder comes from farm equipment, home appliances, and electronic items such as produced by the Philco division. Ford has paid dividends each year since 1947. The indicated yearly rate now is $2, up from $1.80 paid in 1963. Total assets of $5,416,474,000 are listed in the consolidated balance sheet of Dec.

31, 1962, current assets $2,669,125,000, current liabilities $1,561,675,000. long term debt $233,132,000, exclusive of deferred compensations. TAX ESTIMATES DATA For taxpayers filing declarations of estimated tax for 1964, the internal revenue service has issued a separate supple FORD MOTOR I am told that Ford Motor stock sells at prices which are considered reasonable in relation to earnings. What is the price-earnings ratio? F. L.

At a recent price of $57, Ford was selling for about 12.9 times the 1963 earnings of $4.42 a share. This is a lower ratio than that at which the common stocks of many successful en terprises sell at present, but it is to be remembered that the present is a boom time for the somewhat cyclical auto industry, and boom time earnings should not be capitalized too highly. On the other hand, Ford's long term earnings prospects are bright. The present year has started out well for the company. For the first two months of 1964, Ford's sales were 307,082 autos, up from 264,995 a year earlier, an increase of 15.9 per cent.

The company has increased its March production schedules. The introduction of the Mustang sports car line is expected soon. Consolidated sales in the year ended Dec. 31, 1963, totaled $8,742,506,000 compared with $8,089,617,000 in 1962. These are record high totals.

The $4.42 share earnings as applied to Wanted Motel Site In Downtown WINSTON-SALEM HIGH POINT-GREENSBORO Our Client one of the "BIS FOUR" National Motel Chains will lease land in the core of downtown. Principals and broken inrited. Call or write: MANAGEMENT DIRECTIONS, Inc. Exclusive Real Estate Agents Boi 137, Enqlewood, New Jersey Phone: 1201) LO 7-4441 jf Imm all to aive Mt a Httla brt mora. And aaraataa spaciai carparata 'rata and ironclad reservations 'for todastrial and cammareial 'accoants.

Comptrollers iova us. So do salas forcaii 1SOO nawly radacaratad rooms. Papular pricas, too! Call ar write: JOC OSAJDA. CoairW SHERMAN i HOUSE CHICAGO FR 2-1 10O FaHBa--BnBnPBSMnBn ItI TTT TIITTl TTi KEE BOUND? Stay at the Prestige Hotel. Luxury rooms and unsurpassed service.

Rates from 8.50. Free parking. Elegant meeting and dining rooms. In Milwaukee it's the proud new HOTEL PFISTER For reservations Dial For home delivery of the Tribune, dial 2224100 of the 430 building will have headquarters. The 2 billion dollar a year frozen food business approximate retail grocery sales is getting more and more attention from marketing experts.

For the last five years, retail sales increased an average of 4.7 per cent annually, compared with 13.3 per cent annually in the preceding five years. Sales in some of the larger categories poultry, juices-appear to have stopped growing. Because space is expensive in frozen food cabinets, packer brands are facing increased competition from private labels. Collision Is Coming The drive to get in at any price meat pie prices were cut from 24 cents to as little as 10 cents some years ago is about to cause a brand collision in sales of boil-in-the-bag vegetables, relative newcomers to the market. These facts are from Norman McMillan, vice president of N.

W. Ayer Son, a national advertising agency. McMillan appeared on a panel yesterday at the National Association of Frozen Food Packers convention. Tho processing technology is similar in most phases of the business, from a marketing standpoint frozen foods are not an industry, McMillan contended. They are a collection of different products.

What's more, the housewife is likely to weigh them against each other and against canned and fresh varieties. Processors must understand her better if they are to stay in business, he said. Franklin H. Graf, executive vice president of A. C.

Nielsen company, marketing research and media rating firm, also addressed the convention. He concluded that with 25 per cent of housewives working and about 59 per cent using frozen foods, the potential for the industry has not been reached. Finds Sales Potential Recent studies place that potential in the area of quality ment for tax form 1040-ES copies of which presumably will be available at its district offices. It contains tables of the new tax rates and a summary of the principal changes in the income tax law under the revenue act of 1964. Truck Tonnage Rises 0.1 During Week Washington, March 19 () Intercity truck tonnage in 34 metropolitan areas across the country in the week ended March 14 was up 0.1 per cent from the corresponding week last year, the American Trucking associations reported today.

Compared with the preceding week this year, tonnage in the week ended March 14 was down 1.9 per cent. The television antenna which will be built on the west tower of Marina City beginning in May also will be one of the world's longest and highest advertising signs. Plans are being completed to use the antenna to tell Chica-goans about the weather and the fortune of their athletic teams. Mast Being Built The 285-foot mast for the 140-foot antenna is being built The top of the antenna will be 969 feet from street level. The antenna which will be used by WBKB, will have a column of light which will flow upward when the temperature is expected to rise and downward when the temperature is expected to drop.

A blinking light will mean a storm approaching. Two rings of lights at the base will indicate the outcome of any event involving a Chicago team. Told in Colors The colors will indicate victory or defeat. A third ring will represent WBKB's Circle 7 channel insignia. Charles Swibel, president of Marina City Management corporation, said the antenna, will be a 1 million dollar installation.

DENIES WRIT IN PLACING OF TRIBUNE ADS Judge Cornelius J. Harrington in Circuit court yesterday denied an injunction sought by Staff Research Associates, 55 E. Washington which describes itself as management consultant. Staff Research Associates had filed suit against the Tribune company because the newspaper placed the firm's advertisements under the employment agencies classification instead of the help wanted listings. In denying Staff Research Associates a restraining order to make The Tribune comply, Judge Harrington said, "No court has the power to tell a newspaper how it shall classify its ads after it accepts them." The Tribune, was represented by Donald H.

Reuben of the law firm of Kirkland, Ellis, Hodson, Chaff etz Masters. Retail Sales Rise 1 to 4 Billion 51 Million Washington, March 19 15 The department of commerce estimated today that retail sales in the week ended March 14 in creased 1 per cent to 4 billion 51 million dollars. Total sales were 4 per cent above the correspond ing 1963 week, and for the past four weeks are 4 per cent higher than a year ago. of Apollo, in announcing the 100 per cent rented mark, noted that Apollo moved into the new building only 9 months ago and the first renting tenant only 7 months ago. Area In Demand "This is evidence that the North Michigan avenue area has a strong demand for new office space despite the many office buildings that are being built in Chicago," Kelly said.

William F. Farnsworth represented Arthur Rubloff the building agent, in the lease negotiations. Gwilym A. Price, chairman of Westinghouse Electric corporation, will speak at the 10th annual honor awards luncheon of the Chicago Association of Commerce April 9th in the Morrison hotel. Co-sponsor is the Chicago chapter American Institute of Architects.

Perry S. Herst Jr. became associated with the Tishman-Gateway, which is developing air rights over the Chicago Union station. Republic Realty Mortgage corporation placed a $331,000 mortgage on the apartment building at 3237-55 Diversey av. It is for 20 years at 6 per cent.

William White, director of the Illinois department of registration and education, announced the appointment of Oscar C. Brown, the first Negro to the state real estate examining committee. Frigidaire Sales corporation signed a long term lease for a new headquarters in Centex industrial Park. People and Events convenience products, Graf said. Grocery sales of frozen baked goods, for example, increased 9 per cent last year, frozen pizzas a whopping 77 per cent, and various nationality dishes 26 per cent.

On the other hand, regular frozen vegetable sales were off 15 per cent, doubtless due to popularity of vegetables to which sauces, butter or other ingredients have been added. William Wood Prince, chairman of Armour last night urged that government policies to stimulate the economy be directed toward corporate marketing efforts. Prince made his suggestion before the Chicago chapter of the American Marketing association, which presented him its marketing man of the year award. "Surely an increased marketing effort on a national scale should move more products, to be followed by greater production and employment. All too often, however, the first fall of the blade of corporate cost cutting is upon the marketing executive," he said.

Notes Richard L. Halpin was promoted to account supervisor Green Giant Brands at Leo Burnett company. Mark Cooper, president of the Advertising Fed-eration of I America, will auui coo A Wednesday's meeting of the Chicago Federated Adver Halpin tising club. The club's collegiate advertising conference will be held March 29 thru April 1. William W.

Wilson Young Rubicam, is general chairman. Walter S. Trude has joined the Chicago sales staff of American Home magazine. He was formerly with McCall's. president of the Financial Relations Board, succeeding Lee Schooler, who was elected chairman.

The Conex division of Illinois Tool Works, appointed Wayne B. Lyon manager of marketing and Clarence F. Krueger merchandising manager. Norge division of Borg-Warner corporation appointed Joseph J. McDonough national field merchandiser.

Dodge division of Chrysler corporation appointed Richard K. Brown sales manager in the midwest area, which includes five regions and 15 states. Brown's headquarters will be in Chicago. He will be succeeded as national business management manager by E. rswn B.

Knauss. Miss Roberta L. Hess, former advertising manager of Polk Brothers, was appointed sales promotion manager of Electrographic corporation. EFFECT WAGE LAW FOR FIRMS WITH U.S. PACTS Washington, March, 19 The department of labor announced today that a $1.25 hourly minimum wage requirement will go into effect tomorrow for all employes of companies working on federal contracts over $10,000.

It brings the minimum wage provisions of the Walsh-Healy public contracts act in line with the fair labor standards act minimum of $1.25. The action also permits the exemption of job trainees who may be paid less than $1.25 subject to the same conditions authorized in the fair labor standards act 5 'y I i 4 yyf: "5 "m-: SWisfJ: fc-V SSJSi At I 'y A --r 'y 3ipSm i I A TJTTj III' Li t-1 -mTI III (J yW'v' iX pISpl -4 -rJr 11 If i 'tsjh rJ rf lilt ZMfi i I'll J- teiitti rfl il lie -y MMifi X-ji nr-mmmw r-a intiAaarin- juimuii imm I t7 4,,, Wrigley building and the office to be absorbed into the Apollo Prather will occupy the for mer observation space above the clock, in the tower of the Wrigley building. This is the first time this area on the 26th floor has been rented. The observation space was closed in the late 1940s. Houses New Division The terms of yesterday's lease were not disclosed.

The area rented will involve space for a new division coming from Omaha and needed expansion of Armour headquarters, which are in the Sun-Times building. Edward P. Kelly, president T20 1 107 A Ivtuf 'Ptail' Irwin R. Ware was appointed vice president and fur merchandise manager of Blums- Vogue, Inc. Harry E.

Katz-mann will become manager of personnel in the American Bar Wore Rm4 association neadquarters on Monday. He has been salary administrator of the Chicago Title and Trust company. Bliss Laughlin, Inc. appointed Donald G. Reed assistant to the president for corporate development.

Roger M. chairman of United States Steel corporation has been elected a director of Equitable Life Assurance Company of America, James F. Oates chairman of Equitable announced. Willard J. Weibel was appointed assistant cashier in the loan division and Warren M.

West assistant controler of the Lake Shore National bank. Donald B. Roesner was elected president of American Excelsior corporation, succeeding Emory R. Beetham, who was elected chairman. Patrick L.

O'Malley, president of Automatic Canteen Company of America, will speak to the Harvard Business School Alumni Association of Chicago at its dinner meeting Monday in the Builder's club. Dean B. Barks was appointed managing director of Shell Oil Company, Puerto Rico. He has been sales assistant to the vice president in charge of the central marketing region of ShelL D. Gumm was elected rf A-vl V-k" "If IokmL LmmmW fcfiinwii) Suddenly you have to borrow 350 You've already got it with Continental Check-Credit ADVERTISEMENT Repairing the roof; $250.

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