OCR Text |
Show Page fifteen The National Enterprise, April 6, 1977 MFS Anxious to pay Uncle Sams tab For the first time in five years. Mountain Fuel Supply expects to pay higher taxes proved by the Public Service Commission five years ago, he said, and Mountain Fuel went along with the idea. we But now, he added, dont think its such a good idea, anymore. He said the backlog amounts to about $40 million which would be paid over the next five years, in addition to current taxes. Kastler said of the requested rate hike, $7.3 million would cover inflationary costs. He added $626,000 would cover the increased cost of transporting gas through other companies pipelines into the Mountain Fuel network. In addition to requesting a rate increase, the company is requesting a hike in its authorized rate of return on stockholder equity. He explained this money would be used to build and upgrade the present system. Kastler added the company was able to earn only 5.97 percent during 1976, compared to 7.21 percent in 1975. The company is presently allowed to earn 9.47 percent, and is asking for an increase to 9.84 percent. in 1977. And, because those taxable revenues will come from higher rates for gas, it is MFS customers who will actually pay Uncle Sams tab. ' Mountain Fuels high hopes for increased revenue this year come from an application filed with the Public Service Commission, requesting an 18 percent overall increase in fuel rates charged to residential, commercial and industrial customers. The rate hike is expected to bring revenues totaling $27.3 million, of which $20 million would pay for federal and state income taxes. B.Z. Kastler, president, d of explained that the $20 million would pay for taxes deferred during the past five years. We. wanted to pay these taxes before the bill got too big, Kastler told a The group of reporters. deferment practice was ap one-thir- MORTGAGE RATES F11A 8.0 14 VA 8.0 Real estate sales gain sales estate Real amounted to $7,528,408 last week, 16 percent more than was sold the previous week. According to figures compiled by the Salt Lake Board of Realtors, 154 homes sold for a total value of $6,606,168, bringing the average home price last week above that for the previous three months $42,890.. The average home price during January was $40,235; in February it was $40,387 and during March it was $41,417. Realtors last week sold 18 multiple family dwellings for $688,600; they sold five commercial properties for $96,390. And they sold eight vacant lots for $138,250. These rates were obtained by telephone conversation with the above institutions. The rates are correct to the best of our knowledge but their accuracy cannot be guaranteed. Top Lenders in Salt Lake County February, 1977 1. 2. 3. 4. 5. 6. Commercial Security Bank First Security Bank Zions First National Bank First Security State Bank Western Mortgage American S&L 7. Prudential Federal S & L 8. Tracy Mortgage 9. Valley Bank & Trust 10. First Federal S & L Source: Security Title I WILL TRADE a twenty four karat gold plated United States Bicentennial coin proof set (dollar half dollar - quarter) for twenty minutes of your time The only obligation is twenty minutes of your time CALL ME AT THIS NUMBER 272-527- 3 Presenting six of the worlds most elegant cuisines: French, Italian, Greek, Spanish, American and Persian. 249 South 4th East Reservations: Your Host: Ali A. Manteghi 359-500- 0 |