Halt jCakf tribune Saturday Morning Section July 1981 7, B Page 7 Lp and Down the Street Discord Marks Ending of Copper Industry Talks in California By Robert H. Woody Tribune Business Editor Labor costs must be cut if the domestic copper industry is to survive, says a Kennecott officer. No. No. Not that simple, says a copper unions spokesman. The world is far too complicated to say merely cutting American of human Kennecott. resources, nated Bargaining Steering Committee of the copper unions had asked for an industry-wid- e meeting to talk about problems and solutions nearly three weeks ago after Kennecott announced intent to cut 2000 from the Utah Copper Division payroll and res duce production by by July 1 unless it got wage, benefits and concessions from its workers. With no concessions in hand, it put represented His views were recast in a Kennecott release as he returned by air to Salt Lake City. Speaks for Unions Cass Alvin, long a spokesman for the copper worker unions, summed up the union position in a telephone interview. Basically, the Nonferrous Coordi warning into effect Sunday. Nearly 1.800 workers were without jobs, leaving only 2,600 left in the division, which three years ago, with 7.300 employees. was Utah's largest private . employe,-- According to Mr. Alvin, only four copper companies invited by the unions attended the Ontario meeting. They were Kennecott, Inspiration. Magma and Pinto Valley, which Newmont Mining, owner of Magma. two-third- of 12 g copper worker wages and benefits will save the U.S. industry. Such were two Mr. Woody views coming out of Friday's meeting between some U.S. copper companies and representatives of copper unions at Ontario, if? Judd R. Cool, senior vice president . ( v B-l- 1 s s'rflRusgfl f jli in vsm , i ?' , -- v .. - JterJSS-- . . X , Gate Plaza and Tower at State Street and South Temple. Project cost was not given. Retail and office space will be available when Zions Security Corp. builds Eagle Zions Securities Project Eagle Gate Plaza, Tower Plans Unveiled Zions Securities Corp., property investment subsidiary of the Church of Jesus Christ of Latter-da- y Saints, will build an office and retail complex, Eagle Gate Plaza and Tower, at South Temple and State Street, announced the churchs First Presidency Friday. The buildings will have about 385,000 square feet: 29,200 for retail, and 355,800 for offices. The site is occupied by the old Medical Arts Building and Bank of Utah. The latter was the former Federal Reserve Bank Building. These structures will be razed. Construction begins in September with completion in 1986. tower Features are a where the Medical Arts Building which will be embraced at lower level by a low-ris- e buidling stepping back from the corner up to four stories between the tower and State Street. There will be a quarter-acr- e landscaped plaza. Plaza and Tower Connected Plaza and tower will be connected by an Interior landscaped mall to the adjacent ZCMI Ceqter. Covered parking will be provided. The church did not disclose costs of the project. However, estimates from tenants are underway, the church See Related Story on Column 3 1, Essential scale for a structure at the corner of State Street and South Temple is three to four stories. A fourth story of the site will be open for landscaped terraces as a continuum of the Beehive House gardens and Church gardens on the north side of South Temple. Plans complement architectural elements on the north side of the street. The base of the Eagle Gate Tower and Plaza will be colonnaded P- - imported steel penetration down to 15 percent on a national basis within five years. And that still will leave this country as the most open steel market in the world, said Mr. Ballow. The layoff includes primarily proworkers in both the open duction the Jack Bollow said compounding hearth and rolling mills, said Mr. Bolsteel western the that is problem one of the market has never recovered from the low, and will shut down furnances hearth five operating open recession and was therefore weak at Geneva. when more of the unfairly priced forAsked if any more layoffs are imeign steel began coming into the Mr. Bollow said he is not minent, area. aware of any of a major nature. But He said the penetration has he added, "We are continually in a amounted to more than 50 percent in pattern of increasing or decreasing the workforce in good or bad times, the western market, about 60 percent . For the in California and 25 percent nationallso it's pretty hard to say. ypast two or three years we've been Mr. Bollow said those amounts doing everything we can to make our show why U.S. Steel is hoping the operation more productive and effiFair Trade and Steel Act passes. He cient and to be more competitive in said the law will bring the level of western steel markets. state-of-the-a- rt . . Stock Exchange Open Election Day - For the first history, the New York Stock Exchange will remain open during a presidential election day this year, the exchange said FriNEW YORK (AP) time in its 193-ye- day. The American Stock Exchange said later it also would be open Nov. 6. The nations two biggest commodity exchanges, the Board of Trade and the Mercantile Exchange in Chicago, said they planned to close on Election Day. The NYSE said its board of directors voted Thursday to end the ex changes traditional closing on Elec- tion Day. John J. Phelan Jr., chairman and chief executive officer of the exchange, said the decision reflected the increasingly international nature of the securities industry and the trend in the United States for businesses to remain open on Election Day. In 1970, the exchange's rules were amended to drop Election Day as an official holiday and to give the board the discretion to open the exchange on presidential election days. DECKER LAKE AREA WAREHOUSE AND OFFICE SPACE AVAILABLE IMMEDIATELY. DOCK HIGH, GROUND LEVEL ENTRY. CALL OWNERBROKER 972-250- 0 COUPON GOLF BALLS $1098 this pegged cost at $30 to $40 million for a basic structure, not including land costs. The project's designer is the Salt Lake City and Kansas City, Mo., firm of Cooper, Carlson, Duy & Ritchie and the general contractor is Christiansen Brothers, Inc., Salt Lake City. Negotiations with several major TODAY ONLY! EXPIRES JULY 7, 1984 (TO OLDS DHVIO SALE I 6578 So. OFFICECOMPUTER SPACE 4 FOIRl ILEASOE Floor in Church Administration Building and Beehive House. Computerized Elevators The low-ris- e building, stepping up from ground to three and then to four stories, will form the visual base for the tower, say the architects. Evocative of the Beehive House, the second level will have railed terraces overlooking the garden area. The buildings are to have highspeed computerized elevator syscommunicatems, tions, security, safety and energy monitoring systems. Express Solid Tradition According to the architects, the structures will express in a contemporary vocabulary the solid tradition of the historic intersection. B- -l of the to relflect the architecture said. local developers and architects Ground State Loaded, retail $13,184 S.L.C. 1 0OfiC Financing-N- o 11 .755 1984 Cutlass Brougham Sedan No 177 Money Down Two Tenant HINCKLEY DODGE Building 8700 Square Feet Will convert to all offices if desired. Contact: KEN CARTER E1MCO PEC 5 The layoff of about 100 workers U.S. Steel Corp.'s Geneva Works in Orem, scheduled this weekend, is a result of an increase in unfairly priced foreign steel in the western United States market, a spokesman for the firm said Friday. j ' Convenient Westside Downtown Location Convenient Parking Currenily Computer Center plus Offices. See Page BIO, Column from tfm York. g Imports Blamed as 100 Lose Jobs at Steel Plant , - Thursdays closing level. In later New York trading, Republic National Bank said at 4 p.m. EDT that gold was bid at $345 an ounce, down $14.50 from Thursdays late bid. Earlier, gold closed in London at $341 bid a troy ounce, down $23.20 from Thursdays late bid price of $364.20. In Zurich, Europes biggest bullion market, the metal fell $18.25 an ounce to close at $346.50 bid. Gold opened the trading day in Hong Kong, where it closed at a bid of $365.43 an ounce down $2.92. It was golds lowest price since Column 1 See Page Coordinated Bargaining Steering Committee, he said. They will report to the NFCBSC for its consideration and action, he said. t reAccording to the Kennr-'Ottold the Cool Mr. lease, meeting lower labor costs in most foreign countries provide those producers with a major advantage. He said average annual selling price of copper had dropped from 76 ItSs By David Gregorio buying gold. The market is in disarray, Schoen said. Theres no telling when it will bottom out. Gold for current delivery closed at $345.10 on New Yorks Commodity Exchange Friday, down $14.40 from brief, Mr. Alvin said. The unions were represented by an ad hoc committee of the Nonferrous cents in 1974 to 65 cents in 1984 while labor costs have nearly tripled Highest Average Earnings Copper workers earn more than $22 an hour in wages and benefits compared to $8 10 an hour in 1974 Copper workers enjoy highest average earnings of all industrial workers in the three major copper producing states of Utah, Arizona and New Mexico. Average hourly wage for the copper industry in Utah is $13.38 compared to an all industries average of $8 96, he said. Mr. Alvin said there are too many complexities in the world copper producing and marketing to assign cause of the U.S. industry's problems to labor alone. In the unprecedented "strike free" 3 Price of Gold Plunges; Dollar Strong Many metals dealers and analysts said the sharp drop was largely expected, since gold prices had been holding steady for about a month amid a soaring dollar and falling prices for silver, platinum and other metals. Gold did in two days what it should have done in an orderly manner over the past two months, said Fred Bogartsenior vice president at Republic National Bank. ' For the past month silver was falling twice as fast as gold, Bogart said. The dollar was zooming against continental currencies and gold was holding steady. When gold fell below the level on Thursday, he said, investors who had been supporting it at that level bailed out. Larry Schoen, chief trader at RIHT Financial Corp., in Providence, R.I., said the gold market just collapsed under its own weight, with "low inflation and relatively high bond yields discouraging investors from , copper-producin- Calif. Associated Press Writer Gold prices NEW YORK plunged Friday to their lowest level since August 1982, in what traders bailout by incalled a large-scal- e vestors whose expectations of higher inflation have been frustrated. The dollar was mixed on foreign exchange markets, but remained strong amid falling metals prices and continuing high interest rates in the United States. Gold fell by $23 an ounce in London and more than $14 an ounce in New acquired from Cities Service Co Phelps Dodge Absent Among the missing Phelps Dodge Corp., with whom the union has been in bitter strife at Ajo, Ariz (or more than a year. Talks were general and relatively 526-230-1 100 No Money Financing Down O.A.C. SELECTED FEW AVAILABLE, WHILE THEY LAST CALL GARY FLYNN I 484-875-5 financing on any new car or truck . Dodge aU can arrange 100 CM16Ar- Wagon 5Speed POINTMEN'P) Ut 1984 Accord LX 5Speed Hatchback 1984 Accord Automatic Hatchback LX 7146 8835 9185 No FOR 2309 So. State Street SkC, 1984 Civic 3556 No No 3M9 Ken Gatff Oldsmobile Honda 3S76 Slate at Cin Soutt' r : i - o 1 Open 8am-7poat. 8am-Gp- 3