News-Press from Fort Myers, Florida • Page 104

in Fort Myers Newa-Prea Sunday. AprH 26. 1981 www Jewelry lighter as gold goes up 3-, By ANNE-MARIE SCHIRO resw York Times 8rvios NEW YORK Gold prices to up. Gold prices go down. But what does it mean to the person who's thinking of buying a piece of Jewelry? Usually, not much unless the commodity markets go wild as they did in January 1980.

when gold hit $850 an ounce briefly, enticing people to sell off their old gold rather than buy anything new. But once gold dropped below $600 an ounce, customers returned to the jewelry stores. And now, with gold selling at about $900. If business as usual, retailers say. "Jewelry is less subject to the vagaries of the economy than other Industries," said Stephen L.

Singer, president of Flnlay, which operates jewelry departments In 400 stores. "People are looking for something with a sense of permanency. They think gold may go up or down but it wont be valueless. It has lasting intrinsic value. People In this country are just learning the value of owning Jewelry." "Actually," he said, "when the gold market goes down, retail prices are affected Immediately because stores mark down what they have In stock.

But whan the market goes up, stores cant always be raising the prices of all their stock. They dont do thai more than twice a year. "When gold hit over $800, consumers got a bargain because there was no way the industry could reflect that price. It hap-; pened too fast If the price had plateaued at thai level the customer would eventually have had to pay." A Carder spokesman said the store did have to raise Its prices la February 1880. "We make a lot of our own jewelry," she said, "so we had to buy gold.

But It was harder for us to sell at the higher prices. Then the market went down and we announced In April at the same time Tiffany's did that we were bringing our prices down 20 percent Now the market has. leveled off and people are buying again." After things settled, she said, many prices did end up higher than they had been at the beginning of last year. CaiHer's famous See GOLD, page 13Q 1 ML NYT GOLD CHAIN AT BOTTOM COSTLIER THAN HOLLOW-WIRE LOOK-ALIKE Inset below shows both chains magnified, with hollow-wire one at far left Computer targets elite shareholders Caps Coral Waterfront Condominiums 1 Levi Strauss stock worth $118.6 million that produces a payout of $4.14 million a year. Both are members of the founding family and Haas is chief executive officer.

The well-known Laurence A. and Preston R. Tisch each own $208.7 million worth of Loews Corp. stock, which Laurence serves as chairman and chief executive officer and Preston as chairman of tbe executive committee and president Edwin Whitehead, founder of Technlcon, the blood analysis equipment manufacturer in Tarrytown, N.Y owns $334.7 million of Revlon's shares, including $94.6 million of the convertible preferred. Revlon acquired Technlcon some years ago.

When Technlcon shares were first offered to the public. Whitehead became for a time an instant billionaire in a frothy bull market that carried the shares to an extraordinary price level that could not be sustained. are in Iowa Beef Processors ($90 million) and the Zapata Corp. ($126.4 million). General American Oil's roster of more than $100 million has three individuals RA.

Meadows, Curtis W. Meadows Jr. and Evelyn Acton. Perhaps the most surprising name on the list Is that of William L. Cary, who was the chairman of the SEC in the Johnson administration.

Cary, who now teaches at the Columbia University School of Law, has $130.5 million worth of United States Filter Corp. stock and earns $1.91 million in dividends annually. Louis Mead Dixon owns $1 42.5 million worth of Holiday Inns stock and Edward Dorroh has $118.9 million in shares of McRae Consolidated Oil and Gas. Rhoda Haas Goldman owns $1 72.1 million worth of Levi Strauss A Co. stock that throws off $6 million in dividends a year.

Peter E. Haas has tags' in the Hilton Hotels the company he founded and still serves as chairman. Two members of the Getty family were turned up Gordon P. and J. Ronald Getty, descendants of the late Jean Paul Getty, founder of the oil company that bears the family name.

Like many others on the list neither of the surviving Gettys Is mentioned In Who's Who. There are more individuals with $100 million in McDonnell Douglas Corp. than In any other company on the list They are James S. McDonnell, founder of the predecessor McDonnell James S. McDonnell 3d and John F.

and Sanford N. McDonnell. Edwin S. Jones, a St Louis banker, also owns more than $100 million worth of McDonnell Douglas stock and so does William R. Orthwein Jr.

Some names on the list are unknown to all but the most avid followers of the world of finance. For example, David H. Murdock, a Los Angeles business executive, Is listed as owning major interests in a number of companies. His blockbuster holdings land ot luxury living Hurry Only lVnit Left! Model Open Daily Only 6 Units in Building Prime Location 2 Bedroom- 2 Baths 1560 Sq. Ft.

Utility Room Appliances Carpeted Lots of Storage Screened Terraces 1 5x30 Pool Patio Dock On Canal River Access Wet Bar Quiet and much more Brokers Participation Invited "BY THE RATON'S" CALL 544MS00 SUN CASTLE CCXSCS -CCS Zl Wreet (3 block! ml el Dal Praoo on 4m Straet) By ROBERT METZ New York Times Service i NEW YORK The names and major holdings of some of the wealthiest individuals in the nation have come to light In a computer search for affluent potential clients for brokerage houses. The screening, by Computer Directions Advisors of Silver Spring, was designed to ferret out from Securities and Exchange Commission documents, the names of individuals with 5 percent of a public company's stock. Obviously, the individuals on the list are a relatively wealthy group. But Computer Directions then became curious about the wealthiest owners of American business and-again aimed the computer at the documents so as to come up with the names of individuals with shares worth a total of $100 million or more as, of Jan. 31, 1981.

Some of the individuals are as well known as the companies they built. For example, William Barron Hilton made the list on the basis of his hold- voffivomamfc Dovoircsj odd P. Lutyeirs, coinrcs 33 51 I lo will be The Villas The Sandalwood Contemporary Value is always an important consideration when buying a home. Especially a home for retirement. That's why retirees, and those close to i I i retirement, like Riverdale Shores so much.

Dollar for dollar this is the neighborhood that offers them the most. Riverdale Shores offers a choice of villa Outside, your landscaped yard will be fully sodded, and will include a shade tree. And for the pleasure of the entire community, we've even included a beautrful 1 Vi-aae park. See how perfect retirement living in Riverdale Shores can be for you. Visit, the U.S.

Home modeTcenter, and the rest of the neighborhood, today. Hivordolo Ghoroa. Single-family homes priced from the upper $40's to mid $60's. Villas priced from the upper $30's to mid $40's. Model Center open daily 9 a.m.

to 7 p.m. 2543 Purslane RD 17 Ft. Myers, FL 33905 Phone (813) 694-1423 VA and FHA financing available homes and 2-, 3- and 4-bedroom single-family homes by U.S. Home, America's Number 1 home builder. These homes come with a long list of quality standard features.

Kitchens have all Whirlpool appliances including range with self -cleaning oven, energy saving dishwasher, and garbage disposer. Throughout your home you'll also have wall-to-wall carpeting and floor coverings, central heat and air conditioning, marble window sills, smoke detectors, and more. IFcrt most cttrcctiv3 riverfront ccitxtominium value didn't take long for Fort Myert to appreciate Sunset Vista for the value it represents: We are combining spacious oporhnents and the highest quality construction with a superb, riverfront location within walking distance of excellent shopping facilities, exciting dining, theaters and more. There will be tennis courts and a swimming pool and plenty of parking. Sunset Vista will have a complete security system and many energy saving features.

Fort Myers has recognized Sunset Vista as the most attractive value in the S) 00,000 price range. If you would like information on the attractive units remaining (each with its own river view), visit our sales office at 900 Virginia Avenue. Sunset VZsta A condominium development of Property ventures Two. ltd. 1900 VlrglnU Avenue.

Fort Myers. Florida 33901 telephone 337-2323 VCSasUnttA it i i 1 1 MM! fTONGE .5 wrrcMBj. umno room IwreaerMooM aCTMXWM I "al lulrm America cells us hems. USKCJT13 rial 4.1 LISTED ON THt NEW VOMC STOCK (CHANGE ir.