St. Louis Post-Dispatch from St. Louis, Missouri • Page 155

ST. LOUIS POST-DISPATCH Sun, Jan. io, mi 5K Quality Courts Earnings Decline Brown Earnings Up 6.1 Pet. FOR LEASE 14-ft. Cllln 15,000 Orfio Heotiinr CmIIm 12 Deck Doort All or Any Part Itll FA6I AVI.

C. R. SCHATTGEN 428-9700 Nickel Consumption Dow Jonea New gervjt LONDON, Jan. 9 Consumption of primary nickel by the free world nations in 1970 is believed to have totaled 955,000,000 pounds, the International Nickel Co. of Canada, said.

This was 111,000,000 pounds above 1969. Revlon To Close Beauty Salon Dow Jnnea New Service NEW YORK, Jan. 9-Revlon, said it would close the beauty salon in its House of Revlon on Fifth Avenue. The boutique for cosmetics will remain open. The company said the decision to close the beauty salon was due to "changing conditions in which we find our commitment to such a highly personalized service no longer at From Pent-Dispatch Wire Service SILVER SPRINGS, Jan.

9 Quality Courts Motels, reported earnings $835,413 for the fiscal year ended Aug. 31, down from $939,824 in the preceding year. Earnings for 1970 are equal to 38 cents a share on an average of 2,220,019 shares outstanding during the year. In 1969 earnings equaled 49 cents a share on an average of 1,902,544 shares outstanding. Sales in 1970 rose to $25,300,000 from $16,700,000 the year before.

Cash flow In-creased to $3,100,000 or $1.39 a share from $2,200,000 or $1.14 a share in 1969. Assets totaled $51,000,000 on Aug. 31, compared with $33,000,000 a year earlier. Fred E. Ellrod executive vice president, said the increases in sales, cash flow and assets resulted from the acquisition of additional motels and motel sites and from a public stock offering in January, 1970.

both wholesale and retail levels. The performance of the company's retail divisions has been outstanding in an intensely competitive climate. Brown views this as an indication of customer acceptance of its lines of shoes marketed through these channels, and the recognized experience and skill of our retail organization. As Brown Shoe Co. 1971, the company's manufacturing and retail business continues strong.

Orders and reorders at wholesale are ahead of tainable." FOR EVERYTHING PHOTOGRAPHIC! last year. Plans for the coming year call for continued expan sion of retail outlets. Marketing By W. HADLEY GRIFFIN President and Chief Executive Officer. Brown Shoe Inc.

Brown Shoe Co. achieved substantial growth and made signi-f icent in the fiscal year ended Oct. 31. Sales were $429,472,000, up 7.5 per over 1969. Net earnings rose 6.1 per cent with the greatest strength being shown in the third and fourth quarters.

i (General operations improved throughout 1970, a year characterized by intense competition, both foreign and domestic. Manufacturing levels were more favorable than they were al year ago. Retail activities were expanded. Wholesale ship- 1 ments increased as the year progressed. Inventories were 1 maintained at desirable levels.

These factors were coupled with a successful year -long dfive to control expenses. The year was marked by significant expansion in the home sewing market, a field the company entered in 1989 with the acquisition of David Alexander, Inc. Early in 1970, we acquired the retail fabric store business of Sew 'n Sew, a St. Louis-based company. At year end, acquisition was announced of the Cloth World fabric store chain, operators of fabric programs with independent cus- call for gains in all areas.

If predicted increases in CAMERAS and EQUIPMENT PHOTOGRAPHIC ACCESSORIES FILM and PHOTO FINISHING KODAK COPY PRODUCTS GRAPHIC ARTS SUPPLIES AUDIO-VISUAL EQUIPMENT consumer spending materialize, Brown Shoe Co. should see con tinued improvement in over-all shoe manufacturing and mar keting in the coming year. REFINERY MAINTENANCE SUPERINTENDENT Here' an immediate opportunity to step into challenging assignment in the Middle East relinery oi an active American oil company. Applicants should have Degree in Engineering (pielerably Mechanical or Civil) and at least years direct experience supervising a complex relinery, petrochemical or chemical maintenance operation. Responsibilities include planning and maintenance control.

Excellent benefits. All replies will be kept in strict confidence. Please send resume with salary CONTRACTS EXECUTIVE Construction Major multi-market housing produrer seeks aggressive, knowledgeable Contracts and Purchasing Executive for Michigan Division headquartered in Detroit. Must be able to demonstrate strong experience and managerial competence in purchasing and subcontracting all phases of single-family and townhouse developments. Will direct estimating, bidding and suit-contracting of land development and all trades of seven subdivisions.

Will participate in a fast moving, profit oriented management team and report to a young Division President. We are able to promote rapidly from within because of our exceptional internal growth rate. If you are the exceptional man we seek, send resume of business experience, educational background and earnings history to: BOX J-213, POST-DISPATCH Increased costs continue to be a problem, and wage settle ments place increased pressure a I ill on pricing. However, Brown with its balance of manufactur W. L.

Hadley Griffin ters in Texas, Colorado, New Mexico and Florida. Information on fashion trends from, the company's widespread retail divisions and from independent customers throughout the nation provided valuable direction that enhanced Brown's ability to produce and stock merchandise to meet changing customer demands at PHOTO SERVICE ing and retail activities, with its emphasis on national marketing DIVISION OF FOX-STANLEY PHOTO PRO DUCTS, INC. OLive 2-1300 11 Convenient Stores and technological development, has opportunities for continued gains in sales and earnings, both within and i the shoe business. requirements and availability to: BOX 1-216, POST-DISPATCH Pet Inc. Prospered jDespite Difficulties serious unfavorable factors in the national economy.

Higher material and labor costs as well as a general economic slow down have had their effects. Our earnings base was fur ther broadened during the year through the acquisition and ad' dition to existing divisions of a number of small companies JJ One major division was created BETTENDORF to further diversify Pet into the growing area of public ware housing and specialized distribution when we acquired Mer chants Refrigerating Co. The steady increases in our sales and earnings at Pet have n. I By BOYD F. SCHENK President and Chief Executive I Officer, Pet Inc.

Pet Inc. prospered during 1970 despite generally difficult economic conditions. Sales in seal 1970 were $658,500,000 With earnings of $16,600,000 and share earnings of $2.62 all record highs. Most significant, however, was the increase in our profit margins during the year. Earnings, before deduction for an extraordinary item, increased lj per cent on a sales increase of 4 per cent.

This trend toward higher levels or profitability for each dollar of sales has been and remains a major management objective at Pet. The first six months of fiscal 1B71, which ends March 31, 1871, showed increases in both sales and earnings, which was particularly gratifying in view of the serious economic problems confronting the a i n. Our growing total diversity at Pet has proved to be a real strength. But even this makes it difficult for us to make signifies a improvements in our near-term earnings levels because of the continuation of the resulted from well-balanced in ternal and external growth. In fiscal 1970 internally-generated earnings increased more than 12 per cent over the previous year.

5 Capital expenditures in fiscal 1970 were about $24,000,000. We LJ expect them to total approxi mately $28,000,000 in the present fiscal year. More than half of this is being used to expand manufacturing and retail facili ties to meet increasing demand The remainder is being used fife cost-reduction projects to create greater plant efficiency and for normal equipment and machinery replacements. I I I I 1 I i Wagner Electric Corp. Offered New Products By FRANK J.

EHRINGER 2 President, Wagner Electric Corp. A number of new products, results of a continuing research and development program, were introduced by Wagner Electric Corp. during 1970. i One of the new products is a more powerful Tung-Sol headlamp which projects light 25 feet farther than its predecessors. Others are a new truck flasher that lasts at least 10 times longer than the thermal type, and an improved brake fluid formula which provides in-c; a resistance to brake heat and which was used by 2.7 of the 3.1 starters in last a 's Indianapolis 500 auto race.

i After long development, we introduced a new disc brake for trucks. We believe this is one of the most significant product advances in Wagner history, and it should strengthten our position in the brake market. Steady improvement was also evident in the broad line of Wagner transformers, and in our complete line for underground i 1 i ty installation in residential areas. Electronic motor production continued to increase, particularly in fractional horsepower motors for air circulation and hermetic motors for air conditioning compressors. Expansion plans i 1 a new line of swimming pool pump motors and jet-pump motors for deep-well use.

Last Year Was Troubled Time For GM Chief NEW YORK, Jan. 9 (AP) -For James M. Roche, chairman and chief executive officer of General Motors 1970 was one of the most turbulent years in his 43-year career with the company. General Motors' vast domestic operations were shut down by a strike from Sept. 14 to Nov.

11 by the United Auto Workers Union. The settlement was the most costly in auto industry history. Partly because of the strike and partly because of the economic lag, General Motors suffered a $77,100,000 loss in the three months ended Sept. 30, compared with a profit of in the 1969 third quarter This was the first quarterly loss since 1946 and the worst quarter in the company's 62-year history. Roche, now 64 years old, joined General Motors' Cadillac Division in Chicago as a statistician when he was 21.

He couldn't afford to go to college but took correspondence school business and statistical courses. Roche steadily climbed the corporate ladder and by 1949 was general sales manager of the Cadillac Division. He became general manager of Cadillac and a vice president of General Motors in 1957. He moved up to the company's presidency in 1965 and became the seventh chairman of General Motors in 1967. (L ST.

LOUIS'S NUMBER 1 NUTRITIONISTS: FRESHEST MEATS FRESHEST VEGETABLES FRESHEST FRUITS FRESHEST DAIRY James M. Roche 1 jJeV Texas Industries Reports Net Gain 'From Fwtt-nNpatch Wire Services DALLAS, Jan. 9 Texas Industries, and its consolidated subsidiaries today reported net income of $3,790,000, or $1.59 a share of common stock, for the six months ended Nov. 30. These amounts include a special credit of $519,000, or 22 cents a share, that arose from pale of interest in a residential Construction company.

For the first six months of the previous fiscal year, net in-jcome was $2,327,000, or $1.07 a share after adjustment for the May 1970 stock dividend. First half net income, exclusive of the $519,000 special credit, was a record, 41 per cent higher than for the same period a year ago, said Ralph B. Rogers, chairman. SGUNUGKS-BETTENDORF people pledge for the 70's: friendly service -widest variety -satisfaction guaranteed.