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Show UNIVERSITY OF UTAH Serials Order Dept. University of Utah SLC,Utah SALT LAKE CITY, UTAH "Pass Through" Rate Increases Supreme Court Decisions MONDAY, DECEMBER 16, 1974 Liqht at End of Tunnel For Mousing Industry? Commission Approves MF Rate Reduction The LAKE CITY Commission Service Public Utah has approved an application of Mountain Fuel Supply Company to reduce by $94,149 annually the amount of incremental "pass increases for natural rate through" gas service in Utah that were to take effect on December 1, 1974, and January 1, 1975, respectively, and has approved new rate schedules reflecting the reduction also effective these same dates. Mountain Fuel applied for the reduction on December 4, after being advised on December 2 that the Federal Power Commission, in a rate case involving Mountain Fuel's principal interstate pipeline company supplier, Northwest Pipeline Corporation, had temporarily disallowed certain costs involving More and more analysts are finding favorable portents this bleak December in the economy's most depressed sector, the housing industry. Various Administration overriding royalties, an action officials have seen light at the end which triggered the reduction. of the tunnel, and some have arNorthwest supplies about 20 perwe will reach the exit cent of the gas Mountain Fuel gued that as soon as early 1975. The light sells. , at that point may not be dazzling The Utah Commission previously in its radiance; nonetheless, somehad approved an annual pass, what brighter days for homebuild-er- s through rate increase for Mounand homebuyers appear to lie tain Fuel to take effect in three incremental steps on November 18 ahead. It should quickly be added that and December 1, 1974, and Januthe immediate prospects are still ary 1, 1975. The reduction now gloomy, even on the heels of the approved reduces the amount of sharpest downturn of the postwar the December 1 and January 1 inera. Housing starts declined 55 crements. 1973 peak Mountain Fuel had applied for percent from the early to 1.1 million rate of annual an the pass through increase to offAugust-Octobe- r, in units 1974, set the higher costs it is having which compared with a to pay for natural gas purchased in 1966 and a nt litW'rif';iiiii'iiiiy'-il,iiW&- drop from its pipeline company suppliers, principally Northwest Pipeline Corporation. The Company noted in its application that the increase which was approved November 15, would simply offset the higher costs dollar for dollar and would not increase profits. ' See Details Page 6 grand opening of the new Honda dealership this week in Granger, 1830 West 3500 South. The store is a full service motorcycle outlet containing sales, parts and service ( departments. Mr. Eccles has been the manager of Plaza Cycle for and 2 the past years until seeing the need for this Honda dealership in a Granger. He brings with him great deal of experience in business and management. A native of Ogden and graduate of Weber State College, Mr. Eccles received management training at Walker Bank and Trust. He was the manager of a branch Installment Loan department until, his part ownership of Plaza Cycle and his position there as manager. Mr. Eccles is active in his church and civic affairs. He has been ah advisor to Junior Achievement of Salt Lake and is a past director of the Utah Wildlife and Recreation Federation. He is a past and has served the past XA years as President of the Utah He Motorcycle Dealers Association. has also been a state representative to the Motorcycle Industry Council. Joining with Mr. Eccles at Valley Honda are Dave Wayment in charge of sales; Karl Peck, service mana-ge- r; and Roy Daniel, parts manaexger. All are highly qualified and perienced in their areas. Mr. Wayment comes to Valley Honda from Plaza Cycle, Granger. Mr. Peck has been the service manager at Butch by a precipitous 70 percent) A continued slide recently in both new permit activity and the backlog of unused permits implies a possible further dip in starts in the months immediately ahead. Hopeful Signs The hopeful signs are the usual recession symptoms of easier and cheaper financing. Market interest rates have fallen substantially since last summer, with three-monTreasury bills, for example, now yielding 1XA percent as against the earlier peak of 9 percent or more. (The latter is illustrative of the type of rate movements which pulled such substantial sums out of the thrift institutions last summer, crippling the sector in the process.) With rates on competitive instruments declinassociations ing, savings-and-loa- n Cassidy's Honda in Orem and Pacer Honda in Murray. Mr. Daniel was the parts manager at Honda of Salt Lake. Mr. Eccles resides in Salt Lake with his wife Carol and their three children. th co-own- er vice-preside- nt home-financi- recorded a In This Issue: Legals Probate Court New Partnerships Suits Divorces Births Marriages Business Licenses Bankruptcies Business Telephones Bountiful Power Building Permits Tax Liens Murray Power Supreme Court Decisions Third District Court Bankruptcy Sale Trust Deeds Quit Claim Deeds Warranty Deeds Liens Mortgages Murray City Court New Corporations Uniform Commercial Code Filings 2 2 3 3 3 4 5 5 5 5 5 5 5 5 6 10 10 11 11 11 11 11 12 13 15 drop nt in the 1970 slump. (Single-famil-y starts fell substantially in the past year and a half, and multiples fell New Honda Dealership Opens In Granger Dave Eccles, owner and manager of Valley Honda, announced the r 84112 VOLUME 1, NUMBER 36 SALT .LIBRARY WESTER;! AMERICANA . $400-milli- on ng net sav- ings inflow in October, and the improvement apparently continued into November. This easier situation has been accompanied by a slight drop in mortgage rates from their record highs. Looking ahead, many observers have concluded that the combination of a weakening economy and stance an easier monetary-polic- y means decreased market pressures and a further decline in rates, to the advantage of the thrift institutions and the housing market A slackening in business investment and in consumer purchases of autos and appliances would ease borrowing pressures, while a drop in market rates meanwhile would entice savers to put their funds again into thrift institutions, and thus indirectly into housing. Heavy government borrowing may continue, partly because of locked-i- n Federal spending increases and partly because of a recession-cause- d shortfall in revenue, and these pressures may limit the expected decline in interest rates, but overall, the state of the market should permit some easing of the mortgage market (But the easing movement could be limited if corporations continue to turn to the bond market, for funds, as they have done in recent weeks.) The following illustrative examples shows what could happen in an likely gain. This amount supplemented by $23 billion or so in loan repayments, would make about $43 billion in funds available to the S&L's for mortgage lending. However, that amount would still be somewhat below the record $51 billion of both 1972 and 1973. Beside, at today's home prices, $43 billion in mortgage money would finance only 1.2 million homes, compared with the 1.8 million homes that could have been financed with the funds available just two years ago. easier mortgage market A Treasury-bil- l rate averaging, say, 7 percent in 1975 might be consistent with a net savings inflow into the S&L's one-thihigher than this year's $20-billi- rd Overland IOCP Transit Privileges for Utah Pacific Coast ports has stimulated by Boyd Fjeldsted, Research Associate and Robert Ellsworth, Research Analyst The rapid growth of trade in recent years between the United States and the Far East through interest in the possible development of an international distribution center in the State of Utah. This would involve the transfer of some of the functions traditionally performed at ports and various inland points to a centralized location in Utah. One of the peculiarities of international commerce that moves between the United States and the Orient through the Pacific Coast Get Tax Records Now for Faster Refund, IRS Says SALT LAKE CITY, UTAH With g the period approaching, taxpayers should begin now to gather their records and make sure they are complete and in proper order, the Internal Revenue Service advised. 'Taxpayers who itemize their deductions," Roland V. Wise, IRS District Director for Utah, ' said, "should collect such items as check stubs to substanitate charitable contributions, bank statements to account for mortgage payments, records that show interest paid on charge accounts or auto payments, bills for medical or dental costs, records of union dues paid, etc." He advised taxpayers to assemble records before the tax filing season begins. "That way you have plenty of time," he said, "to look for or obtain records supporting important deductions you are entitled to take errors." and you avoid Mr. Wise said that gathering records early enables a taxpayer to file sooner and receive a refund faster. "As a matter of fact," he said, "taxpayers might well give serious thought now to setting up a recordkeeping system for next year." ' Mr. Wise also stressed that married taxpayers filing either joint or separate returns should make sure that the social security so-call- ed . tax-filin- last-minu- te gateway is the existence of overland and overland common point (OCP) tariffs. These tariffs, or freight rates, which were implemented by the Pacific Ocean carriers to permit them to compete with water carriers serving the Gulf and East Coast ports, play a critical role in the determination of whether or not Utah may have a significant potential as a centralized international distribution center. A complete understanding of the ramifications that the overland OCP tariff structure has on the State of Utah and its ability to function as a viable inland distribution center requires an understanding of the following topics: 1. The function of shipping conferences. 2. The history of overlandOCP tariffs. 3. The concept of transit privileges. 4. The Utah alternative to the present system of distributing overlandOCP trade. 5. An analysis of current transportation patterns and types of commodities that are moving under overlandOCP tariffs. ' numbers of both husband and wife appear on the Forms 1040 or 1040A filed. Taxpayers, with extra income from a sideline job were reminded-tdetermine whether such income tax. is subject to |