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Show !ys CGuoysleir By DON WOODWARD T Deseret News Business Editor " DALLAS Chrysler Corp.s chairman today blamed the '.governments fiscal and mon- etary restraints for a substantial drop in this years car market, then said the firm the spend biggest , 'would amount in its history on its new 1970 cars in an effort to , boost its own share of the market next year. Lynn Townsend, speaking at the national news preview of ''the new Plymouths, Dodges and Chryslers, said it would be foolish to try to forecast I how many cars would be sold next year due to the uncertainties in the current eco-; nomlc situation. But he said they should do at least as well ' as sales in 1969. Chrysler will be spending about $425 million on the 1970 by far the . lineup of cars biggest investment we have ever made in the product itself, Townsend said. ' lines Low-price- d will re- a big emphasis, with Chrysler bringing out a new .model, the Duster, which will , compete headlight to head ceive ; Ssiles light with the Ford Maverick. Townsend told some 300 newsmen at the plush new Fairmont Hotel here that the automobile industry had felt the effects of the governments drive to stop Inflation. the However, he charged assumption that a slowdown in economic growth will result in bringing inflation under control has yet to be proved. Without the fiscal and monetary restraints imposed on the economy by Washington, our industry would almost certainly be retailing more than 10 million cars in in1969, including imports, stead of the approximately 9.6 million units we predicted near the end of last year and Suit Is Settled The Justice announced the domestic market. Since then it has risen to 17.6 per cent, and we expect to continue improving it. John J. Rlccaruo, group vice president feat U.S. auto production, said the company could have done better in the past three months if it had been able to produce enough d cars in the of its compact lines. The Challenger and Barra ' final Tuesday settlement If its antitrust suit prohibiting the United States Steel Corp. from entering into reciprocal purchasing arrangements with customers and suppliers for the next 10 years. Deputy Atty. Gen. Richard G. Kleindienst said a final consent Judgment was entered oy the U.S. District Court in Pittsburgh. Effective immediately, it concludes a civil suit filed last June 13. The suit charged that U.S. Steel, the nations largest steelmaker had used its purchasing power since 1955 to promote sales in an attempt to monopolize the reouire-ment- s of actual and potential cuda will be all new this year, supplier-customefor steel Riccardo said, and the Dodge end steel products, cement, ' Dart has been restyled.. chemicals and other products. The use of a companys ecoChanges have been made in all the new cars being shown nomic power as a purchaser in an attempt to Induce sales this year, he said. of its own products is a violation of the Sherman Antitrust Act. The Pittsburgh-base- ZCMI Directors Rename Member Renamed Wednesday to the ZCMI board of driectors was Salt Lake contractor Leo M. Jacobsen. The appointment Is effective Immediately, a company spokesman said, Jacobsen also will serve emiimniiiiiiimniaiiiiib as a member of the execu- Corner tive committee. The appointments were made In the board meeting Tuesday afternoon. He held the same iiiiiiiiiiiiiiiiiiiiiiniiiinii positions from 1956 to 1966 when he resigned to accept a call to preside over the Norwegian Mission of The Church of Saints. Jesus Christ of Latter-daHe is vice president of Jacobsen Construction Co. and of Jelco, Lie., an electrical con- On Commerce y Help For Hefties rate its first class 7:30 p.m. R. B. (Dick) Trentman, a Manager Named organization, which was not named in the complaint, objected to a provision prohibiting U.S. Steels officers and employes from belonging to the association or attending its meetings. After the association filed a motion to intervene, the government agreed to delete it by name in the settlement to avoid delaying the final settle- Penrod Ohio Gas Discoveries The final Judgment orders U.S. Steel to refrain from membership and to prohibit its officers and employes from belonging to or participating in the activities of any association whose activities, programs or objectives are to the adjacent acres. Both wells are within a few relations Scrap Shortages Push Up Prices Few Funds AP Business Writer - NEW YORK (AP) Junk yards are showing unusual activity and their owners are wearing broad smiles as shortages push the price of scrap metals to the highest piont In - NEW YORK (AP) Only seven of 379 mutual funds checked have increased their net asset value in this year of falling stock prices, Arthur Upper Corp., a New York firm brokerage reported Monday. No other way of home heating can equal the dependability, comfort, cleanliness and economy of a natural gas circulating warm air furnace. DEPENDABILITY: Gas is delivered underground where no weather to interrupt your service. theres COMFORT: Gas heating pulls stale, stuffy air out of your home and replaces it with fresh, gently circulating warm air in every room of your home. ? CLEANLINESS: No heat can be cleaner than gas heat. As it burns, the gas flame releases only water vapor and carbon dioxide (such as we exhale with every breath). And even these are vented up your chimney. The warm fresh air of gas heat is filtered, removing dust, dirt and pollen. ECONOMY: Gas is the only practical heat for our kind of weather. No extra insulation is required, no expensive d as much as the other kind. thermal windows. And gas heat costs You can send one of your children to college with the money you save with life of a home mortgage. gas heat during the one-thir- 30-ye- ar RS With gas heating youre better than Upner said that while this has been an unsuccessful year for the funds, many of the large funds have held up well because they have not been as aggressive in their investments as In the past two years. Topping the list of funds, with an increase of 6.39 in asset value this year, was Templeton Growth Fund. Others whose assets increased were Vantage Ten Ninety Fund, 5.85 per cent; Pro Fund, 0.54 per cent; Scud-de- r International Investments, 0.37 per cent; United Furds Canada International, 0.25 per cent; Investors Selective Fund, 0.10 per cent, and Keystone B-- l, 0.07 per cent The biggest lowers, according to Upper, were Hubsh-ma- n Fund, 38.31 per cent; Worth Fund, 35.31 per cent; O'Neil Fund, 35.01 per cent; 34.85 Fund, Olympus per cent; Ung Fund, 31.79 per cent; All American Fund, 31.57 per cent, and Mates Investment Fund, 31.50 per cent. Llpper calculates its rank- ings on the basis of reinvestment of all income and capi- tal gains. toward Total Comfort. Gas air conditioning, using the same duct work and furnace blowers, takes you the rest of the way. will yawr whanlt iHrinfc bacon on mhantonco? Plan obaed almino tha shrinhog finolfy MOUNTAIN FUEL SUPPLY COMPANY Phono or vfilr MEL RIDGES, f jf-- For TOTAL comfort and convenience g tnmforyooond your family. - it's natural CASi 4th Floor 405 South Mala 3220341 tifa mambar a C.U. to moko temorrow draorrt coma 4pW NatuAal Gas Scwicc melting quality. Iron Age magazine says that scrap exports in the first half of this year were 3.4 million tons, compared with 2.7 million in the first half of several years. Junk dealers they prefer to be known as the secondary metal industry are getting 1968. rid of the huge piles of old The scrap pinch, Iron iron and aluminum which results from a wrote, Age they have been holding for combination of heavy demand several years. and some unusual substrac-tion- s This does not solve the from supply. The domestic steel market has been runproblem of old automobiles, the most fruitful source of ning ahead of expectations all scrap metal, because they are year. Now a fall upturn has mixed with other metals put individual mills in a posiwhich modem steel furnaces tion where they are pushing to cannot stomach. Nor is it afrebuild depleted scrap stocks. fecting copper scrap, since all By June, scrap was movthe available copper has long ing out of the country at an since been sold at higher annual rate of mere than 10 prices than new meral. million tons. Steel scrap prices now are Aluminum scrap also is in in the range of $33 and $34 per demand, although there are ton. The increase, up from $28 differences of opinion about at the start of this year, is the reason. LIVESTOCK uCA,,P,'USDA,'r Barrow and L'vtstock- ffl!' 24 5 S. No 5C0 sow M lb 23 4 25 boars Cattles tmerclal bull 25; good ,MMA Vj5.28bOO-UNo5'Ji4- 400 22 - 24 00 high coup! gill iteady to' Orasslng Individual J7 JO V tower; moderately ac-- i Sheep 200. Spring ilaughter lamb weak ,0 50 tower; couple Iota choice with buck N,i L2. lb 29 00; several lots utility ''mbs !ian57jiSvn2i L.1 26 4 .I'? telriv H lb iSiJ?. 24 00.74 OONoSmjoo 00 i 19 kT ci m Von. lately haSari on mivfaratiiufr 7 '"stances lb. 23 (AP luohter 7 8 00. 000. Clive c,tl .tiers steady to strong, 25 highor; belters fully steady; 5,uy; bulls steady; feec.e s laBhter steers high choce end u:5 16 11 ' 'uahr he'fers it? cow, ,ully ' Pr I,lh ''olca .and Pf 925-- 1 lb 050 cow, utility and commercial canner and cutler cows u,lll,v comm,rc ' ind 50 lower; cows ard bulls iteedv 50 o2, "hc barrows and ollls wa.k tetteV htehchVc; severaMoeds UM4O0P pn? barrows and to1M '"war; 200 1 50 lbs ,0 50 Iowa-- ; ?holc. or oTtlilo Jti17,00mi?2i 55" 00; scwi steady to strong Instan- SEP .nd ',3S lb m7i20 0 lb 2J 5 00. CeL 25 hlh,r- slaughter et bt7wMlc to 50 iow.T5te ,iL. 2; 5i i? 6 I 9; 500-2- - tSITSi 288; Grom'S? P?im.To5"T 7U29 25h0lC?r?i pLno 8lauh,8r ,amb choice some lot 75,28ml,2ioor.nd KkRS. ' 00 9500,h?r" Q01 choice 26 5027 50; good 25 5026 50; utility rTo 7,LIi Hoflsvolume cows 19 7521 00; ftw and commercial C hish dressing utility 21 2521.50; canner 1 JJIV wJ f t?l Pic comparslower; and cutter 17 5020 50; utility end 13 190233 lb 25 9026 10; lot 5ha,rp relatively love 2 3 215 lb 25 00, sows scarce few gilts 293305 lb 22 25 Sheep 250; slaughter lambs weaK to 2S' lower on email test, ewes 25 50 lowerjf tec rs mostly 50 lower; slaughter p tntf cholca and few prim 9Sli5lp 1071 slaughter ewes, cull to1 gnod 7 70; feeder lambs, choice end 5 lb 25 2027 10; few srmlt loft. yi' we lambs f r replacement purpose, e KoooT'M DO YOU KNOW? vdi . ' m? half-wa- y Haw to the booming steel industry which needs scrap. Both the American industry and overseas scrap users, particularly Japan and Italy, are in need of old iron of due Register Value Hike Heres why: -- rt 2 involving reciprocal purchasing arrangements. w miles of American Minerals Fund, Inc., Shanan No. was completed in the Newburg formation within the past two weeks and tested over 30 million cubic feet of gas deliverability per day, making it many times more', productive than the average ; producing well. A take or pay purchase contract with the . Ohio Gas Fuel Co. was signed July 15, 1969, for 7 million cubic feet of gas per day. A discovery of gas reported to be in commercial quantity in the Devonian Brown Shale formation at two of its well sites in Meigs County, Ohio, has been announced by American Minerals Fund. Inc. t one of these two sites, Profitt-Stobawell, American Minerals Fund, Inc. partnership 69-- also owns a working interest in about 4,000 ment. r -- nounced. Penrod Joined the firm in 1964 and has been In the finance business since 1952. A native of, Ogden, he served in the Army during World War n and the Korean War. He is active in civic affairs. At present he is secretary of the Ogden Optimist Club, and has also worked in the Scouting program. Penrod is married and has six children. . group. The Its GRS! - New manager of the Lockhart here is Jack Penrod, Richard A. Van Winkle, president of the company, has anOGDEN Co. office agreed to many restrictions sought by' the government One provision of the original settlement was changed because of objections from the Trade Relations Association, a trade association Inc., Yes. tonight at and Dorsey husband and The consent Judgment does not constitute an admission by U.S. Steel of violating the law. But under it, the company trade wife team, will conduct the course at their office, 811 E. 33rd South, Suite E. They are affiliated with Weight Watchers International of Great Neck, N.Y. Their franchise area of covers the Salt Lake, Utah, Morgan, Davis, Cache and Weber. A franchise business organization to help overweight persons reduce, Weight Watchers of Salt Lake City, will inaugu- com-- p d Mr. Jacobsen tracting firm. a n y annually purchases about $2.5 billion worth of raw equipmaterials, supplies, ment and services. In 1968, it had sales of $4.5 billion to rank as the nations 10th largest Industrial corporation. promote jdnesday, August 27, 1969 V 2B (CPI) -Department WASHINGTON still anticipate at this time. Retail sales of automobiles have been virtually even with sales in the same months of 1968, despite an increase in demand, he said. Virgil E. Boyd, president of the countrys third largest a u t omobile manufacturer, said Chryslers market share dropped during the winter months particularly in tne first quarter of this year, when it fell to 16.6 per cent of U.S. Steel Mlffion Dotiot Round TeWa S &nolod7 27 8 ? Nevada Peedlof range stiles Weekend trede for' slaughter steers and hellers moderately'1 ac ive; price? Irrug iter but gtaeraliy steady - with lest weak ; nut fully .ettab-- ' Irheufew feeder cattle sales firm; other classes untested; slaughter steers ennt rmsd 1,300 choice 1 025 1,150 lb 28 50 75; flood Holstelni 25 00; slaughter hellers confirmed 300, choice 900 550 lb 2 3 27 25, slaughter cattle fob feedlots 4 5 pet shrink Immediat eto two-- . reek delivery) feeder cattle confirmed 450) choice 725 750 lb steer 29 00 50, cholca 700 lb heifers 27 00) to Oct I delivery, fob. welflhlna points, equivalent 4 pet ihrlnk. an' V 1 |