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Show supplement to the National Enterprise New Profit Corporations Filed In Utah C 70 71 72 73 ,JI A South American freeze Americans, Africans are virtual and an African civil war have newcomers to the coffee grow-slai- n an American hallmark, The 10 cent cup of coffee is dead. A Brazilian freeze last July destroyed about 90 per-cent of Brazils coffee crop and so completely devastated that countrys coffee trees that a complete recovery is not ex- pected for at least five years, Brazil was the worlds major producer and exporter of Still, Angola ing business. produces a lot of the worlds coffee beans used for instant coffee. This soluable coffee has been hard to get since the Sambos. brew stayed at 10 cents a cup Sambos restaurant chain until Jan. 1, 1976, when it rose has built an empire around to 20 cents. The price shot to what they used to call The 10 25 cents in March and will cent bottomless cup of probably go up again soon. coffee. That same cup of Sambos buys their coffee coffee is now 25 cents. from Farmers Brothers civil war The last first Sambo;s opened Coffee Co. Angolan began fall. in Salt Lake City in 1957. For We are selling coffee for continued on page 5b Speculation by coffee nineteen years, the aromatic buyers have also pushed coffee prices up. Buyers have been purchasing coffee well in advance in an effort to get as coffee. much coffee as possible before This Compared to the South prices go up again. increase in demand for coffee has created a considerable reduction in supply. Its a simple matter of demand versus supply,. Doug Johnson, vice president ' of Commercial Importing Co., said. Our experts say there is an adequate supply of coffee in the world to last until another Brazilian crop is harvested. We are able to get all the coffee we want as long as we can pay the price. global strife brews higher prices 76 - .The 1976 projection is based on the first six months ot97ti, compares to the same period for previous years. 1 S News Inside . The energy crunch and a renaissance in coal have spur-re- d dramatic growth in Carbon County. Hard pressed to meet the requirements of its swelling population, motels are overrun with families and construction workers and a moritorium has been imposed on water hook ups outside the city limits of Price. Until last year, the communitys population had been steadily declining. It now' suffers unplanned miseries of growth. Insurance companies quit going broke in Utah during 1976. It could be that the stock market is on its feet again and it could be that companies are doing a better job of underwriting, exa m in in g hazards and setting rates. With 99 percent ; of all burglar alarms turning out to be false, a newly effective city ordinance gives the police department authority to require businesses to disconnect their alarm systems. Employee error, not a defective product is most commonly at fault. Commercial Importing supplies coffee to area coffee servers like Dees, McDonalds and Little America. 75 N- ; 7 '2 74 t The Bottomless Cup1 Not surprisingly, restaurant prices have kept pace with market prices. Coffee prices have more than doubled and most restaurants have increased prices from 10 cents to 30 cents a cup, most restaurants that is, except Ground breaking ceremonies in Sandy last week marked the development Woodlands by Western of a $5 million shopping center. Mayor of Sandy, Dewey Bluth said his city surpassed the growth of any other during 1975. Sinking Workers Protest Insurance Mortalities Plummet Emico Call Back Policy More than 200 members of the International Molders and Allied Workers, local 231, are still on strike, since July 1, at the Eimco Foundry, 870 S. 500 W., Salt Lake City. Workers are seeking operational changes and a 10.5 percent pay increase for the first year plus 7.6 percent increase for each of the next two years under the three year contract. Eimco General Manager, Joe Delaney, said his company has been negotiating for about two months prior to the expiration of the old contract. Delaney added he could not speculate as to when the molders would return to work but said the situation gave him no reason to be optimistic right now. Delaney does not think the economic package was the major problem in getting the proposed contract signed. Wages dont seem to be the major problem at present, he said. I cant speak for all the workers. Im only guessing, but the main problem seems to be something other than wages. Changes in work responsibilities are the main source of the dispute said union president, Wendall McWhorter. He said that management wants to allow journeymen molders and electricians to take in various job classifica- Insurance companies are back on their feet this year, after wobbling precariously for the last few years. According to The Utah Insurance Commission, only one company in 1976 has had its license revoked due to insolvency, while last year 18 Utah licenses were revoked. Now that the stock market is back up, companies reserves are in better condition. Also, they have increased their rates, and they have been doing a better job of underwriting, examining hazards and setting rates, explained Bill D Evelyn of the Utah Association of Independent Insurance Agents. Burt Gottfredson of the tions. Union people oppose Insurance Commission added that proposal. that many companies are The Eimco Foundry is in dropping insurance lines with full operation despite the high loss rates. Companies continued on page 4b will write these lines when they are in good condition, but lately many have just stopped writing them, he said. Property and casualty insurance companies were hit hard by the recession, Gottfredson explained, because unlike life insurance companies they are legally unable to invest in long-terproperties. They are limited to short-terinvestments, in the stock which are of many market. When the market went down, their paper reserves went down, and many high-ris- k writers were declared insolvent by state insurance commissions. Most of the insolvencies in Utah last year occurred in companies m m writing substandard auto- mobile insurance for people who cannot get auto insurance any other way. An eroding stock market coupled with a swelling infla tion rate produced nervous claims of future disaster in the insurance industry. The president of a Tacoma, Washington insurance company told Utah agents in November, 1976 will be sheer disaster for the insurance industry. He said companies of all sizes were worried about going broke, and not one casualty company was operating in the black in 1975. He told them then they must raise rates and increase deductibles. Apparently, Utah agents took his advice. Utah rates were raised premium this year, and not one casualty company has been declared insolvent. The one company whose license was revoked this year was a small life insurance company. That was just a normal occurrence," said Bill DEvelyn. |