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Show The National Enterprise Page two Christensen, Inc. Declares Third Dividend For Year SALT LAKE Christensen, Inc. (OTC 14.25, 14.75) declared a regular quarterly dividend of 10 cents per share payable Oct. 8, 1976 to stockholders of record Sept. 24, 1976. This is the third regular quarterly dividend declared to date this year by Christensen. Christensen. Inc. is en September 8, 1976 SEC Abuses, Distorts Says Touche, ROSS Co. The was responding to the SEC and Exchange administrative public proceedings initiated by the SEC staff against the prestigious accounting firm, wherein the SEC alleges that Touche, Ross didnt follow generally accepted standards. NEW YORK, N.Y. gaged in the design, manufacture, marketing and servicing of diamond drilling products for the petroleum and mining industries, and in providing contract drilling and other services to the mineral exploration and construction Securities Commission was accused by Touche, Ross & Co., a leading national accounting firm, abusing authority and distorting the commissions enforce- ment role. g Russell E. Palmer, partner of Touche Ross, man-agin- industries throughout the world. Security Brokers, Dealers, Corporate Officials, Attorneys. Commenting on and jury. We arent going to let that happen. We are going to the courts, if we have to, to see that this gets an impartial hearing. The New York office of Touche Ross accused the SEC of resorting to administrative because the proceedings system of Administrative Law as practiced by the SEC (no jury is allowed, and both prosecutor and judge are SEC staff employees), Mr. Palmer said, They think they can be the prosecutor and sit as judge a real court and because the courts have repeatedly re- efforts to hold auditors re- buffed the commissions sponsible for management fraud. Grand Centrals Net Up 90 Percent stores in Nevada that werent making any money a couple of years ago. They have matured now and are beginning to realize a profit. Besides the stabilizing Grand Central, Inc., (OTC 10.625, 10.895) reported a 90 percent profit increase for fiscal 1976 over 1975 profits. Don A. Mackey, president and chief executive officer for the company, attributed the gain to the maturing of its new stores in Nevada and a recovering hand for sweaty palms A helping Juristics Securities Law Seminars help you avoid problems under securities regulations. Theyre education on tape to protect you and your clients. Complete, current, concise seminars covering the field of Securities Law, you learn at your leisure from experts. Listen and learn while you commute to the office, while you have lunch, in the evenings as you relax at home. Cassette Seminars in handsome album with compendium the small investment of only $1 00.00. Any one of the 1 2 sessions could save you many times its modest cost. All for economy and maturing Nevada stores, Mackey said several other factors contributed to Grand Centrals 90 percent profit increase. He pointed to lower administrative costs and lower general operating costs as two other important reasons for the jump in profits. Mackey also reported improved operating results for the fourth quarter of fiscal 1976. Net income for the fourth quarter was $589,149 compared to profits of $512,722 for the same quarter, economy. Net income for fiscal 1976 was $3,018,697 compared to fiscal 1975's net income of $1,585,470. Earnings per share increased from $1 .01 to $1.92. Mackey said that most large retail chains have operated in a depressed state for the last year or two. Grand Centrals sharp upturn in profits for the last fiscal year is deceiving for that reason, he said, but profits should remain high for the coming fiscal year. The term record sales is not fair in this case, Business is Mackey said. finally performing as it should. Our business, like most retail businesses, just came through a depression and now were on our way back to recovery. The economy in general seems to be recovering. We had some new 1975. Grand Central operates 22 stores in Utah, Wyoming, Idaho and Nevada. Mackey said the large retail chain plans to open two new stores by November of this year. One store, he said, located at 7800 South and Redwood Road is scheduled to open in October. The other, scheduled to open in November, will be at 33rd South 33rd East. Both stores are of identical floor plans and will have 82,700 square feet of floor space. JURISTICS Send for your Juristics Securities Law Seminars now. Juristics, Subscriptions $24.00 per year Inc. 233 Parker, Suite 101 P.O. Box 11126 533-055- Please send me the Juristics 1 2 Cassette Seminar on Securities Law. My check for $100.00 is enclosed. Second Class Postage Paid n Salt Lake City. Utah R. Qaorga Gregersen Publisher : Alena E. Bentley Street Address. Editor .State. City Charge my 50 Cents Per Copy The Notional Enterprise is published weekly by the National Enterprise Publishing Company, Inc, 500 Continental lank Bldg., P.O. Box 11771, Pioneer Station, Salt lake City, Utah 14147. (801) 6 San Francisco, California 941 01 Name U Bankamericard .Zip. Master Charge Ryan B. Poulton Business Manager Mary McMillan Gabor - Dean Alsup Staff Reporters Account Number Signature it couldnt hope to win its case in SALT LAKE 12 f Expiration Date. Peter Harrison Operations Manager |