Herald and Review from Decatur, Illinois • Page 49

STOCK: Should be 50 DECATUR SUNDAY HERALD AND REVIEW Decatur. Illini. Suntlay. January 27. 1980 BusinessIndustry Russia affects market forecasts lion shares a day, running just slightly off the previous week's record daily pace of 54 85 million.

The bond market, by contrast, declined this past week to the point where yields reached new highs. That was interpreted as a signal of declining hopes for any important progress toward a slowing of inflation and lower interest rates. Analysts at the brokerage firm of First Albany Corp. pointed out that that lack of optimism about progress against inflation seemed to be shared by financial planners at one of the country's largest corporations. International Business Machines.

IBM, never known as a borrower, went to the bond market for SI billion last October, and borrowed another $300 million from Saudi Arabia more recently. If the company expected any substantial decline in interest rates soon, it stands to reason that it would have held off on any debt financing. NEW YORK (AP) The deepening chill in relations between the United States and the Soviet Union has led to some major changes in Wall Streeters' economic forecasts for the early is80s. A few months ago, the standard view was that a recession was looming in 1980. It was expected to exert downward pressure on corporate profits, but it was also expected to put at least a small dent in inflation and bring down interest rates from their recent historic highs.

Now some of those forecasts are being adjusted for the prospect of increased spending on defense and technological research, which could be a broad stimulus to economic activity. "An arms race lasting for at least the next half-decade is increasingly probable." said Richard B. Hoey. an analyst at Bache Halsey Stuart Shields in a report issued earlier this month. "The coming arms race should have minimal impact on the outlook for the economy in 1980, but a major impact on 198M985." Whether such a possibility is good or bad economic news for investors depends on your perspective.

The stock market, evidently responding to expectations of stepped up business activity, has risen for three consecutive weeks on record trading volume. The Dow Jones average of 30 industrials rose 8.96 to 876.11 in the past week, extending its gain since Jan. 3 to 55 80 points. The New Yoric Stock Exchange composite index climbed 1.33 to 65.27. com Staff pttoto by Doug Gjumoo The uniqueness of yesteryear adds totfhe pleasure of dining at Shenanigans.

1-879 Posters to lights to box seats The i use 2. Market cc 1876 11 Let Shenanigans jog your memory Analysis um old-fashioned barber pole. DOW I0XES 30 IKOUSUIJllS Week ol hi. 21 25 Walls are graced with stuffed headi from an antelope and a gazelle, the light fixtures are from a St. Louis too and dye factory and from an old coun try schoolhouse; and a propeller is from 180 an old World War I fighter plane.

"The uniqueness of the restauran ESQ 1-n-H-l If i 1 1 1 1 I 1 i i i i 843 Kn Tt Wi Thi fn ii i198Di ing very close to surpassing its record high of 65.48. set seven years ago. At the American Stock Exchange, the market value index continued to reach new highs ith a 2.29 advance to 266.75. Big Board volume averaged 51.11 mil- Over counter stocks (Th following bid no' asked quotations oo tamed from local securities oeaiers are representative inter dealer prices as of Friday's IICCCT 550 By MARC MELTZER Herald and Review Staff Writer Remember when you used to fill up vour car's tank with something called Good Gulf?" Did you ever see the Walter L. Main 3 Ring Circus? Can you recall when Merrell's Penetrating Oil Liniment was indispensible to'athletes? Shenanigans can jog your memory about these and other trivialities as well as' provide you ith food and drink.

pecatur newest restaurant was put together from relics found in St. Louis, Louisville and Indianapolis. Two of the restaurant's four owners. Dale Holt of Champaign and Dave Block of Philo, traveled to auctions in those cities where they found various mementoes to add to the decor of the restaurant in YVoodMound Plaza at Woodford Street and Mound Road. Shenanigans' bar, for instance, is from a St.

Louis hotel built in 1840. A series of box seats along one all in the restaurant is from the original Sportsman Park, where the St. Louis Cardinals played until the mid-1960s. The restaurant has brass doors, an antique ticket booth which serves as an office, a street light from Bourbon Street in New Orleans, a plate glass window from the Royal Hotel in Anyplace. U.S.A., antique stop and go lights from a street corner somewhere and an The Decatur restaurant specializes in hamburgers, pizza, salad and sandwiches.

The various burger creations sport names on the menu such as the Staley Burger and Macon Burger. One of the pizzas is called a Caterpillar and another is called the Running Red after the mascot for Stephen Decatur High School. After 5 p.m. the menu expands to include shrimp, steak and chicken. The bar specializes in fresh fruit daiquiris.

Holt, Cooper and Block, friends from Eastern Illinois University school days, have been in the restaurant business together since they opened the Decatur Village Inn in 1967. Fat Albert's, which seats 260 people, is their biggest enterprise. Shenanigans in Decatur seats 145 people. Shenanigans is open every day from 11 a.m. to midnight for food and the bar is open until 1 a.m.

Upon entering Shenanigans, a replica of Charlie McCarthy, Edgar Bergen's old pal, greets you inside the brass doors. A straphanger from an old New York City subway car offers support for the not-so-sure-footed. But some of the memorabilia is personal. In the restaurant's party room, a picture of Cooper's great-grandparents hangs on the wall. 903 850 draws people," said its manager and co-owner, Mike Denning of TiSJEp "The atmosphere is original." Jim Cooper of Decatur, the fourth owner, said the restaurant got its start because people knew that as a co-ow ner of the Village Inn Pizza Parlor in Decatur he was associated with the owners of Fat Albert's Meat-Fish Distilling Co.

in Mattoon. Fat Albert's, a restaurant owned by Holt and Block, has been drawing people from Decatur for years. Holt, Block and Cooper are co-owners of the Decatur Village Inn. "People always told me that Fat Albert's was too far away to go. They wanted something like it in Decatur.

We decided to give it to them." "People say it doesn't feel like they're in Decatur when they're in this place," he said, referring to Shenanigans. "This kind of place has long been overdue." The Decatur Shenanigans is modeled after Fat Albert's and another Shenanigans, owned only by Holt and Block, in Danville." 24 -3 54 bid 45', 800 doe Anheuser Busch 24 Equity Oil 52'7 Kennedy Industries 1 Lin Broadcasting 444 Milhkin Bancshares Inc 30 Progress Industries 3 750 32 bid 38 -15V. 11'4 Mike Denning 1 700 Soy Capital Bank Trust Varlen agner Castings Co. 147 10' I I 0 0 I 1 I DIAMOND DIVESTING We welcome the chance to make an offer on your Diamonds one carat and above and an immediate check when you accept the offer. FLORA 101 N.

U'ATER. DECATUR jJ hit. Jr-Wic rri W.T.FLORA GEMS I i wl Bill If awQk I ill- a 9 MODEL RP1250 Portable Radio The bar Is from an 1840s era St. Louis hotel. when you deposit to one of the following Savings Plans.

Bond market reflects defense issue Rata Good thru Wad. 1 30 80 MONEY MARKET CERTIFICATE Minimum Deposit of $10,000 Law prevents compounding of interest Vh YEAR MONEY CERTIFICATE Minimum Deposit of $1,000 Interest is compounding of Interest 11.886 10.15 Rata Good thru Thura. 1 31 80 Substantial Interest Penalty for early withdrawal of Time Deposits. NEW YORK President Carter's tough talk on national defense was designed to scare the Russians out of any idea of invading Iran or Pakistan. His sujcess on that score is still in doubt, but there is no question he succeeded in scaring the bond markets.

feond prices plunged the day after Carter's State-of-the-Union message, in wltich he called for increased military spending and vowed use of military foceJX necessary. Tfcptpromise, coupled with the presi-deti1 decision to buy the grain that woVlkf have been exported to the Soviet Unxy raised fears of a much larger butget'deficit. government bonds, which ur4i this past week never yielded more th4rj39.6 percent, were yielding a shade unfleT 11 percent by the end of the week. Telephone bonds, rated Triple-A, yielded more than 12 percent for the first time ever. Since the beginning of the year the price of a $1,000 30-year Treasury bond has dropped nearly $80.

Other long-term bond prices have dropped even more as the market has put a premium on quality. Short-term rates also rose substantially this past week, but are still well below the peaks they reached in late October and November. The prospect of larger budget deficits was not the only cause of the decline in bond prices Traders in mid-week thought they saw signs of a relaxation of credit by the Federal Reserve Board, but on Thursday it became clear those signs had been misunderstood. The Fed reported the basic money supply rose $1 billion in the latest reporting week, confounding predictions of a decline and raising fears of more tightening, although the consensus was the Fed was not yet ready to act. With the market already nervous, Henry Kaufman, the respected Solomon Brothers economist, helped send prices down by again voicing his belief that rates will rise substantially during the next several months.

For California, the week brought the end of an era. Since 1952 the state's" bonds had been rated Triple-A by Standard Poor's, but the bond rating agency reduced that rating to AA plus. California's tax-cutting fever was the reason. said it was concerned by the state's passage of Proposition 13, which cut property taxes and by a pending ballot initiative to cut personal income taxes in half. Moody's Investors Service, the other major bond-rating firm, did not lower its rating, although it expressed concern over the income tax proposal.

FIRST NATIONAL BANK ulllllllllllllu OF MT. ZION mm Located 2A miles south of Mt. Zion mart on Route 121.