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Show Page H-T- v"l HERALD, Prove. Utah. Sunday. HE 20. 1980 Comvnerce What is happening 0 0 in the stock markets and the business world First Security Chamber Topics Increase Earnings - The New County Building t UMBURG Executive Vice Presides Provo Chamber f Commerce The Provo Chamber of Commerce is very interested in the proposed new county office building, the subject of the special bond election on June Y for several important reasons And we believe every citimt of the county should likewise bewnie interested ana informed in order to vote responsibly on this issue. One of the main reasons we're interested is because good government, at all levels, is a must. Since governments wen instituted for the benefit of mankind, it is imperative that men and women of all walks of life ensure that government has what it takes to get the job done efficiently, with proper checks and balances, and at the least burden to the taxpayers. Chambers of commerce traditionally take a leading role in assisting citizens and government in realizing their proper relationships one to another. Another reason we're interested falls into the general topic of taxes. The proposed new building will cost an estimated $5.8 million if built on the county's time schedule, and possibly $7 million if delayed another year. The mill levy to meet the cost of such a pro' ject would be about 1.21 mills over a twenty year period. To the average homeowner, this would amount to about a $12 per year increase in property taxes. So the tax question becomes one of principle more than one of dollar amount additional burden, as $12 per year is not excessive when one con By NEViN siders the return on those dollars: SALT LAKE CITY First Security Corporation, corporation's subsidiary banks at the end of the first bank holding company headquartered here, has quarter amounted to $2.5 billion, a 7 percent increase reported first quarter 1960 unaudited consolidated in- over the $2.3 billio one year ago. Loans outstanding come before securities transactions of $9.7 million, on March 31. 1980. including leases, were $2.1 billion. or 82 cents per share. This compares with $8.7 milEccles said that First Security supports the volunlion, or 74 cents per share, for first quarter 1979. tary credit control program institutec by the Federal representing a 10.8 percent per share increase. Reserve on March 14. "This will be the most potent George S. Eccles. chairman and chief executive of- program to assist in fighting inflation. Credit will be ficer, said unaudited income after securities transactight and expensive, and will definitely be reflected tions was $.97 millionk or 82 cents per share, comin mortgage financing for home building, resulting pared with $8.6 million, or 72 cents per share one lower consumer spending." he said. The bank exyear ago. ecutive noted that ultimately a downturn in the He noted that total expenses rose 23.5 percent over economy should be reflected, with some inflationary first quarter 1979, from $67.0 million to $28.7 million. improvement. Largest expense was interest paid on deposits which The real need, according to Eccles, is positive acwas $39.2 million, a 32.6 percent increase over the tion on the fiscal side, with a reduction in the govern$29.6 million of interest paid during the first quarter ment deficit and a balanced budget. one year ago. of First Total consolidated resources of First Security CorComplete details of operating results at its annual will be its banks reported on and subsidiaries March 31. Security Corporation poration, 1980, were $3.3 billion compared with $3.1 billion ne meeting of stockholders scheduled April 28 in Salt year ago, a 5 percent increase. Total deposits of the Lake City. be located to the north of the new structure the traffic entering from and exiting onto Center Street would create more congestion than already exists. A traffic and parking study is currently being conducted for Provo City by an out of state firm. They are taking into consideration, for short and long range action and planning, the parking and Laffic effects of the proposed county building. But their report will not be completed until after the June 3 election. Knowing that, Provo City would supposedly insist that before any street vacation or building permit issuance take place (providing the bond issue passed), the parking and traffic concerns would be laid to rest. As one can readily see, the questions for the voters of Utah County and the "supposedly's" mentioned create reasons for all of us to study the facts on this bond election issue. Several opportunities ae being offered to do so. On Tuesday. 12 noon at the Elk's Lodge in Provo, the Provo Chamber of Commerce is sponsoring a forum on the topic, featuring Sam Brewster, chairman of the county-wid- e committee which recommends the construction of the new building. Interested citizens are welcome to attend, with an R.S.V.P. by calling the chamber. The cost is $4.75 for the luncheon. The presentation will provide detail and background information, and questions will be answered. As county government serves us in a multiplicity of important ways, the June 3 question should be resolved by a most enlightened electorate. Increased county government efficiency by bringing departments together under one roof, and freeing up the present county building to be utilized as a judicial complex. The question for ail taxpayers: In a period of high inflation, am I willing to pay a little more for obviously needed government facilities, or should 1 let the government continue to suffer through this same period with men and accept somewhat lesser services, knowing also that I will pay more for the same necessary improvements at a later date? This is not an easy question to answer. It requires the soul searching of each taxpayer. A third reason for chamber interest is the proposed location of the new building. The business community, which the chamber represents, is concerned with a Center Street front because of an already aggravated parking and traffic flow problem. A task force as formed by our group, headed by Royden Shurtz, to look at the whole situation, and they came up with the following information. The architects involved have made nuiuerous visual and site studies concerning optional locations of the building, with their respective parking and traffic flow effects. The current suggested location is a compromise of all considerations. Such suggested location would supposedly divert county traffic to 100 South and thence to the new parking area, rather than further hinder the condition that exists on Center Street. The architects also feel that if parking should in part or in total . EVE O S RCA 8(8l North Sp. Fork Industrial Put your Region Shows Big Growth money in a FORK - The industrial past years it has grown to about area at the north end Spanish Fork's square feet of factory and ... if liltt SPANISH five 10,000 of Selectavislon 600 w jt? - . i. ' i JEST" IS? 23J aanuuua money in rho bonk Main Street is growing rapidly. employs 25 people. It sells jerky Typical of this growth are the plans through convenience stores throughout of the Butler Roofing and Supply Com- the Western U.S. Douglas Ford, pany at 1600 North 150 East. The owner, is proud of the steady growth Spanish Fork City Council approved the being experienced. This industrial area includes several plans of Butler to add 16,300 square feet to his present facilities at a cost of longer established companies. about $250,000. This will provide room Torrey Metals Corp. at 165 East 1600 for the supply area of the business and North recently completed adding to its also room for two other companies who plant The firm makes specialized plan to rent space from them. castings. Butler Roofing is concentrating its Spanish Fork Foundry at 1600 North business push in Wasatch and Utah 200 East is one of the old timers. DurCounties and the balance of southern, ing its 12 years it has added to its eastern and western Utah. It facilities, including the change-ove- r from gas to electric beat for furnaces. specializes in roof repairs and reroof-inetc., as compared with new home It now plans another addition to the building. Consequently Butler's plant to take care of increased business is growing constantly. The business. Its specialty is cast and duccompany employs from 15 to 20 during tile iron castings, and also aluminum the peak summer months. castings. Another new and important addition Mark Anderson and Wendell Hansen, to this area is the Central Distributing doing business as A & Y Equipment Co. Company. It is just completing a new have also been here quite some time. three story office and storehouse at They are an established dealer for John 1500 North Main Street. Deere and Hess ton Corp. farm equipCentral Distributing operates the ment. Gas and Goodies" stations "Mr. G's Am tec Corporation is newer, being throughout Utah, from Ogden to one of the first of the new additions. It Kanab. They have been successful as is a very large processor and disgasoline and associated dealers, but tributor of health vitamins and equiphave found that the "goodies" portion ment of their business, including family style Another important part of the inrestaurants, is equally successful. They dustrial comminity is Hamilton plan several large beautiful truck Electric, wholesale distributors of wirinin the near future, ing supplies and electrical appliances cluding enlarging the Budget Fuel stop and equipment for the home. indicate that at Payson. Figures by The Spanish Fork Lumber Company the Payson location is the largest of volume single diesel outlet in the state. winds up the list successful businesin north the end of Spanish Fork. ses This location is also one of the 3 percent is one of the pioneers and offers of the restaurants in the area showing It also a complete line of lumber and other an increase in business. Central Distributing will also add an building supplies. Other companies have tentative electronics department to its operation, other than the small line it now plans to join this list of successful handles. It anticipates a large volume businesses but their plans are not advanced to the point where they can talk from this side of the business. Another business just completing its about them. One thing is certain. Spanish Fork is third major addition is the Hickory-KiBeef Jerky Company. During the growing. Sharp oHort a wkW rangt of cod) raoistws wMi loborowfiQ feotafes Hie tax cowyutuliow. wMinQ tatah of total by (Mportataflt win po ncirln numbering, h nor! DUAKH'O usacxasTBS 3734920 fawmt Wtct So4t g, we re Helping you Save at ZCMI Major Appliances if ts II ,1 st Still to Make Hot Energy Shoppe at 490 W. 300 S. in Provo sells "stills, but not like those used in Prohibition Days. This one distills alcohol of 160 proof or better and. claim its distributors, when the alcohol is mixed with regular gasoline on an 80 per cent alcohol and 20 per cent gasoline basis, it makes a fuel which will run cars. The product is HUTCH H OFFICE B r- Alka-Ga- called Alka-Ga- s s. The Hot Energy Shoppe claims it can concert engines to run on Alka-Ga- Bonus s, and sells a still than can produce it. Considerable expertise is required to run one, and federal and state permits are necessary. Full information can be obtained at the Hot Energy Shoppe, 490 W. 300 S., Provo. SU?rWl -T Authorized Dealer 16-ple- Cook Kit we Think Panasonic Is Ahead of Its Time Special Amana Spring savings save $1 89.9 5 save Panasonic's Incredible model 7720 microwave se it does so oven is ahead of its never You'll have many things automatically. to turn food with the magnetic time-becau- kimBAll OFFICE FURNITURE a Office Design Service fUmw a OFFICE SUMY 377-517- 0 225-952- 9 489-746- 9 373-243- 0 69 I. Cfittf, Provo 741 S. Stat, Ortm 191 S. Main, Springvillo 393 S. Unfroniry, Provo Cook-a-Roun- d temperature turntable, with energy-savinlevels. variable and power probe g Special Bonus When You Buy a Microwave microoven from ZCMI: receive a free wave cooking kit, a 29.95 value. 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