OCR Text |
Show Utah Hydro: Struggle Into Profits From A CampingTrip Brainstorm On Saturday afternoon about 0 people will gather In a bright new building on Pioneer Road near 21st South. Some of these same people have been gathering once a year for the past ten years, 150-20- is that this be smiling. As stockholders in a company they had once written off as a bad investment, the; are more than happy at the last annual report of their the difference year year they'll company, Utah HydroCorpor-atio- n, which turned up with a $75,671 profit in 1964 on $404, -923 sales In 1960 Utah Hydro issued an eight page annual report and a full of promises . $20,182 loss. Abidingbysome kind of Parkinsonion law the . . current report is four pages with performance and profits instead of promises. When the stockholders gather in the Just completed 12,000 square foot plant they'll be able to see the continuing evidence of success in the form long, PRESIDENT OF UTAH HYDRO is George Jackson. An idea on a camping trip sparked the product which has brought success to a firm that struggled along for a decade. Do you honestly think its cheaper to run salesmen owned cars than to lease a fleet from Avis? I YesQ NoQ Whos Avis? J Am RENTA CAR I Charles A. Boynton III, Avis Lie. Car Leasing Division j P. O. Box 1261, Salt Lake City. Utah Please call for appointment. Not very long ago Avis was No. 0 in fleet leasing. Then we leased a few fleets to a few I I I I .Ciy. .Slate. They stopped pay- Of course other peoplea problems may not be yours. So we'll create a special plan for you and still save you money. Thats the way it is with fleet leasing. We make money when dont know. of boxes cents per share At about the same time the Geor- firm's ge Jackson, was spending one quiet weekend with his family out in the wilds on a camp- - Harmon Nabs Post Don R. educational CLU, chairman; and new members of the board of directors, artin L. Robinette, CLU, Hor-roe- HIM M MOI nTIN Despite what businessmen may or. may not say. the ex- perts claim that most areas of business in Salt Lake are KfMhVt. June 3 , 1 b" Business Review ing 1963 to bring the little company a tidy $49, 705 profit. Mr. Jackson is a was aware of the large potential of this inHe began wondering dustry why he couldnt buy a trailer furnace that was quiet and efficient and compact, yet Inexpensive. So he designed one. In 1961 Utah Hydro began to manufacture a small trailer furnace, and it caught on fast. In 1962 the company manage ment was reorganized, Jack-so- n tx came president and Dr. Thomas .. binson, who had struggled with the companys plodding years became chairman of the executive committee During the first part of that year the company sustained large losses, but as more and more manufacturers of trailers got word of the furnquality of Hydro-Flaaces, business began to pick up, and the year saw losses of only $16,047. Sales rose every month dur ing trip trailer man-an- d Financial stability became a long dreamed of reality, the companys management began to look toward more than four or five percent of the market, and ussued its first dividend of three cents per share. - The big burner had been shelved for a while, but Hydros management realised its potential, and the company's own financial limitations in properly developing it. Bright possibilities for the big burners came in the person of Ralph Monroe, an articulate young Californian, whose desire to get out of government business and sell his successful electronics business led him to Utah Hydro. A licensing agreement was drawn up and Utah Hydro's income grows a bit each month from the intitial success of Monroe's new venture, Hydro Combustion Corp .' Life Insurance Company, and Deloy McMul-ll- n, Lincoln National Life Insurance Company. CLU's are a professional group of men who have pledged themselves to high standards of professional conduct in their relationships with the public, clients, fellow underwriters, and companies. The purpose of chapter members ship is to foster activities and programs designed to further the technical knowledge of the CLU and maintain a close working relationship with the allied professions in the commuaccount- nity-attorneys, NEW TELEPHONE NUMBERS UTAH POWER & LIGHT CO. pretty good The University of Utah's Economic and Business Review, published monthly, and released this week tells the following story for segments of Salt Lake business for March of 1965 compared with March of 1964: - Loans, commercial banks - up 9 5 per cent - Demand deposits, banks - down 0.8 percent. - Time deposits, commercial banks - up 3.1 percent - Real estate sales, up 42 6 percent in number and 60.1 perenet in value. - Non agricultural employment up 1.3 percent - New dwelling units -- down 45.5 percent. - Total construction down 19.5 percent. For the state as a whole the construction picture is a with total of bright $17,601,000 for March as compared to $13,808,000 last year, much of the increase coming in public works and utilities, mostly highways. Department store sales for Salt Lake were the same in March as in 1964, but were slightly ahead for the first quarter of 1965 over the same period in 1964. New car and truck sales picked up nicely by 23.1 percent from March 1964 Fewer new corporations started up for the first three months of 1965 than for the com-meri- Church Plans Xeic Schedule summer schedule for the Lutheran Shepherd Church, 8600 South 700 East, will begin Sunday, June 6. Worship service will be held at 9 A. M , with Fellowship Hour after worship No Sunday School is scheduled during the summer months. A Good 0 0 YOUR CHILDREN has it been How long since you've heard their voices, listened to their news? Call them. Long Distance. Mountain States Telephone first quarter 1964, by 374 to 390. But fewer business failures were recorded,, 34 to 39 during the first quarter 1964. 0 0 Vv ' W Y ; " ks, ants, trust officers to the ultimate benefit of the public. Mr. Harmon is manager of tbe Home Life Insurance Company of New York in Salt Lake City. He resides with his wife, Carolee, and three children at 4024 Mercury Drive. fat 18 Up Say The Experts Robert H. Harmon, CLU, Salt Lake Insurance executive, has been elected President o the Utah Chapter of Chartered Life Underwriters. Other officers elected at a recent meeting at the Alta Club Include F. BurtonCassity, CLU, Equitable Life Assurance Society of the United States, eneflcial ing thousands of eight cents per mile. (Nobody was .satisfied with eight cents anyway. And downtime went down when their salesmen began driving our Fords and other new cars. Now Avia is the fastest growing fleet lessor around. you save money. Who loses? We of tbe companys prime product, the Hydro-Flam- e furance, ready for shipment Monday. Starting out as General Investment Co. in the mid fifties. mostly to deal in oil properties, the company soon went into the manufacture of a large oil and gas burner. The management was convinced that these burners were able to obtain heat energy from water, and an attempt was made to get patents Failing this the company struggled for several years with inadequate capitiliation. but on the strength of merger hopes with a larger company and the prospects for the large burner considerable stock went at prices near $3 00 per share. When it became apparent the Utah Hydro was not going anywhere with its large burner the stock fell near the end of 1961 to a disastrous 35 of stacks Its Business? ;.v A RUSH OF BUSINESS meant Utah Hydro was bulging at the In its old quarters. This new building at 1874 Pioneer seams Road will be spanking clean for the companys annual stock- holder's meeting this Saturday. Scholarship Winners Named By Kennecott Eight Utah high school sentoday as recipients of individual $500 High School, daughter of Mr. and Mrs. Nicholas M. Barich, 2664 Kenwood Street; Richard Reeves Burt, 18, Highland High School, son of Mr. and Mrs. Wayne H. Burt, 2591 Lynwood Drive. Other recipients are: Beverly Tidwell, 17, Granite High School, daughter of Mr. and Mrs. Kenneth B. Tidwell, 969 Colmar Avenue; Mary Ann Baldee, 17, West High School, daughter of Mr. and Mrs. Lorenzo Baldee, 403 North 11th West;JoAnnKirkman, 17, Cyprus High School, daughter of Mr. and Mrs Robert G. Krikman, Sr., 8715 Florence Drive, Magna; Russell Kent iors were named scholarships for the 1965-6- 6 school year by the Utah Copper Division of Kennecott Copper Corporation. Awarded annually as part of the companys comprehensive educational assistance programs, the scholarships may be utilized at any college or university of the recipients choosing. Winners were selected on the basis of academic achievement and leadership by a panel of educators; all are dependents of Utah Copper Division employees. Among the eight were three students from Southeast Salt Lake; Ronald James Nelson, 18, Granite High School, son of M r. and Mrs. Reed S. Nelson, 1180 Ridgedale Lane; Patricia Jayne Davies, 18, Highland 17, Hillcrest High BUflchl, School, son of Mr. Roger A. B lan chi, 16 North Main, Midvale; and Nick E. Yengich, 18, Jordan High School, son of Mr. and Mrs. Nick A. Yengich, 836 Galena Drive, Sandy. TEE OFF ON TAXES Jim&5 Pure Pleasure on the Ofrias CENTRAL SALT LAKE DIVISION Water - DIAL 1407 West North Templ 36 South State 521-46- GET THE 11 Dial MAGNA IUSINESS OFFICE amn-rr- ) 40 North Main, Midvale 255681 1 (unchanged) 9 CLINTON 5HP GARAGaOOOR AIR COOLED OUTBOARD 9135 West 2700 South, Magna Dial TO REPORT INTERRUPTION 297-572- 1 (unchanged) OF SERVICE DAT OR NIGHT IN Salt Lake Magna for tho money for tho rvlco Midvale Holladay Kearns Bingham Canyon DIAL Perfect power for fnhing, crui irg in any type of wood, alumi rum or fibergia boat trceUent for miliary power. You get more horsepower than outboards of comparable weight Three gallon remote fuel tank means artra hours of cruising. Compeet, Ight only 36 pounds, fighter than outboards of srmilar horsepower. I wry to rtoe. Smart, eeeyoperttfng Wes'fn vfrtuaify trouble free wdh air cooled engine which doesn't clog with mud or weeds. Quick service through 12.000 Clinton DISTRIBUTOR 2557191 ENKNE Coppertcn Lark & 9th So. ALDERS Installing Distributors UTAH POWER & LIGHT CO. tax-exem- tax-exem- FAMOUS MIDVALE IUSINESS OFFICE You can if you invest in municipal bonds. These bonds provide the investor with income that is often higher than after-tareturns on other securities providing far less safety. An individual in the 3 per cent tax bracket who buys municipal bonds yielding 2 per cent can earn the equivalent of a taxable interest yield of 5.33 per cent. The soundness of mu- 960 So Main EM4-M4- 4 mm 364-365- 3 DEALER QUICK'S SERVICE 2220 So. 9th E. 466-254- 7 pt pt x bonds can be nicipal further demon- strated by the fact that of all municipal bonds issued, individuals currently possess the highest percentage, in excess of 36 per cent. Not to be overlooked is the security of these bonds, generally considered second only to U. S. Government Bonds. To add real drive to your investment portfolio, look to municipal bonds. For further information about municipal bonds . . tax-exem- tax-exem- pt pt . plcaSO r.nntnnh . GOODBODY & CO. CONSOLIDATED "" IAIT LAX I err, WITH J. A. HOGLI A CO. ! w4 OW ertmdwwl Utimmym 132 S. MAM ST, DA 8 8411 |