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Show THE SALT LAKE TIMES FRIDAY, MAY 15, .1959 Page Threi Pacific Mutual Life Notes Increase in Mortgage Investments First quarter new mortgage in-- I vestments 'in Metropolitan Salt Lake City by Pacific Mutual Life Insurance rose eight per cent over the same period in 1958, it was reported by B. Saunders Brooks, the company's mortgage loan district manager here. Brooks, whose offices are in the Executive Building, said that 1 Pacific Mutual loan placements in the area have reached $518,-00- 0 during the initial three months of 1959. Total of the company's mort-gage investments here are now in excess of $6,500,000 18 per cent more than at the same time in 1958. . Of Pacific Mutual's $279,763,-00- 0 in mortgage loans invested nationally, approximately 67 per cent is in homes, 15 per cent in apartments, 7 per cent in retail business properties and 4 per cent in industrial properties. Mountain Fuel Notes Increase in Income Mountain Fuel Supply Com-pany's net income for the first quarter of 1959 was 20 per cent above the comparable period in 1958, it was reported this week by W. T. Nightingale, company president, at the annual meeting of MFS shareholders. "If our earnings continue at their present rate our net income per share should approximate $1.80 for the year compared with $1.57 last year. "Last year, in my opinion, was not a good year, and there is a reason for it. As was pointed out in the annual report, we had a business recession during the year along with some rather warm weather. Warm years are not unusual, but last year is the first time we had one coincide with a recession. "Although 1959 weather thus far also has been in the warm cycle, the absence of the business recession is showing up mark-- edly in the earnings of the com-pany at the start of the year." Mr. Nightingale said Mountain Fuel Supply Company expects to ad about the same number of customers to its system this year as it did in 1958. This would mean an increase of about 11,000 for the year. Plans for an extensive drilling program for 1959 were outlined by M. M. Fidlar, executive vice president. A report on the com-- , pany's distribution activities was made by J. W. Allen, vice presi-dent in charge of distribution, while J. T. Simon, vice president in charge of exploration, produc-ing and pipeline divisions, out-lined plans for new pipelines which are pending Federal Pow-er Commission approval. Most of the company's 1959 drilling program will be con-centrated in southwestern Wyo-ming. Wells in which Mountain Fuel Supply Company has some interest are being drilled in 7 different areas at the present time. "Much of the company's area of interest is now extremely ac-tive, insofar as leasing and ex-ploration are concerned. As a re suit, an operator is seldom able to assemble a solid block of leases, and joint operation or unitization with other operators is necessary. Consequently, the company has entered into sev-eral unit agreements in order to get some of its leases tested. "At present, the company is participating in 24 approved unit operations, either producing, in-active or drilling; five units to be drilled in the near future, and seven proposed units. Thus, in 1959 we may be participating in 36 unit operations." MFS owns, controls or has a part interest in oil and gas leases covering about 834,000 net acres of federal, state and patented lands in Wyoming, Colorado and Utah, including producing acre-age and leases committed to fed-eral plans of unit operation. In a subsequent question and answer period, Mr. Nightingale said some 80,000 acres were held in the Paradox basin in Utah's San Juan county and that MFS, in conjunction with General Pe-troleum Corporation, expected to drill a wildcat well there later this year. "The company's drilling record for the past 10 years shows that we have discovered one new field for every six wildcat wells we've drilled. Thsi compares to a national average of one to nine. "In 1959, if we get six wildcat areas drilled, we should discover a new gas field," he said. Mr. Allen reported the addi-tion of four new towns and 11,-10- 3 new customers to the com- - pany distribution system during 1958. Customers totaled 155,144 at the end of the year. i TB Association Dates Annual Convention The 42nd annual convention of the Utah Tuberculosis and Health Association will be held in the Newhouse Hotel May 15, it was announced by John H. Zenger, Provo, president of the association. "This is an open meeting and the public is invited to partici-pate. As a matter of fact, the program has been arranged so that it will have interest for the non-professio- person as well as those engaged in tuberculosis control and health promotion." The need for dedication by Utah citizens in pioneering the way toward eradication of tu-berculosis from the Utah scene was emphasized by Mr. Zenger. It is not well known that al-though Utah has a TV case rate lower than most states, yet little progress has been made in les-sening the rate over the past several decades. There has been a dramatic reduction in the death rate which has produced apathy because the people no longer feel an urgency about the dis-ease. Mr. Zenger explained that some counties in Utah have an unusually large share of the problem. "San Juan County has a higher rate than any state in the union and higher than even Puerto Rico where the disease is considered epidemic, said Mr. Zenger. The first general session of the convention will deal with a pro-vocative diagnosis of the prob-lems Utah will face during the next decade of TV control. "This is appropriate because we find the tuberculosis prob-- ' lem in a great transition period. Not only is Utah undergoing great population and industrial changes which influence TB, but science is changing our approach to the disease. We need to con-stantly refresh our knowledge so that we be in tune with the times." An afternoon session of the conference will be devoted to tuberculin testing and what its position should be in Utah. M-Me-n, Cleaners Choose Theme For Banquet "Oriental Magic" is the theme for the annual traditional ban-quet honoring the Master M-M- en and Golden Gleaners of the LDS Church Thursday, June 11, at 7:00 p.m. in the University of Utah's Union Building. Advance ticket orders may be made by June 1 as there is a big demand for the limited number of reservations made available, according to Wendell Adams and Hortense Child, general board members and en of the festivities. Tickets are available at the YWMIA office at 40 North Main Street, Salt Lake City, at a cost of $2.75 per person. The event is a highlight of the June conference of the MIA and recognizes young men and young women who have qualified for the highest achievement award in the church's youth program. The oriental theme will be car-ried out in colorful decorations at the tables and throughout the hall. The evening's program will in-clude special humorous, musi-cal and dance numbers by popu-lar entertainers. A number of the church's Gen-eral Authorities are expected to attend the banquet. , U-- l Sugar Company Offers to Buy Layton Sugar Firm Utah-Idah- o Sugar Co. has of-fered to purchase the stock of the Layton Sugar Co. in Layton, Utah, officials from both com-panies announced this week. The boards of directors of the two firms have already ap-proved the sale, according to a joint announcement from Harold E. Ellison, president of Layton Sugar, and J. Arthur Wood of U and I. U and I offered to buy 90 per cent or more of Layton's stock at $66.50 per share, the announce-ment said. Under the proposal, U and I would operate Layton Sugar in accordance wfith past policies, and would continue to market sugar under Layton's "Moun-tain" band. The factory in Lay-to- n, however, will be closed. Beets from Davis and Weber counties in Utah will be shipped to U and I's Garland plant in Box Elder county. Beets from the Burley, Idaho area will be shipped for processing to U and I's Idaho Falls factory. "For some period of time your board of directors has been con-cerned about the economic and financial future of Layton Sugar Co.," Mr. Ellison's letter said. "Costs have increased material-ly governmental regulations and controls make it difficult for a single unit plant such as Layton with limited acreage to compete with large companies who ope-rate on a multi-pla- nt basis." The stock acquisition has been cleared by the U. S. Department of Justice. "As you know, the Utah-Idah- o Sugar. Co. is a successful and outstanding company in the su-gar industry. It has indicated its intention of operating Layton, except for the factory, in accord-ance with the traditions and past policies of Layton Sugar Co., in-cluding the same grower rela-tionship and services. We are certain the growers will have a much greater source for techni-cal help on fertilizers and the combatting of crop pests and in-festations. You will directly par-ticipate in the extensive agri- - cultural research program that Utah-Idah- o has carried on for many years." In another letter sent out to beet growers, Mr. Wood said that settlement with the Layton Sugar Co. growers for 1959 crop beets would be made in accord-ance with the Layton growers' current contract. "We are confident that the raising of sugar beets has an im-portant place in the economy of Layton's beet growing areas in Utah and Idaho and the Layton Sugar Co. and Utah-Idah- o Sugar Co. sincerely desire to maintain good relations with growers in those areas," Mr. Wood said. Shrinks Hemorrhoids Without Surgery Stops Itch Relieves Pain For the first time science has found a new healing substance with the as-tonishing ability to shrink hemor-rhoids and to relieve pain without surgery. In case after case, while gently relieving pain, actual reduc-tion (shrinkage) took place. 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TIslIJFPHOIVII ' ; v;;2v:v:w:::-:::::- GOING j ' ' TO' PRESS j GIIT BOURBON &MrJA whiskey , WS!i?OTSTiiTra THE LIGHTER BOURBON fi& ..' STRAIGHT BOURBON WHISKEY 90.4 PROOF V5C7 --aii BEIMONT DISTILLING CO., LAWRENCEBURG, IND. V7 t Astronomer Readies Two Space Lectures Amateur Astronomer Lester Neil, BCS, LLB, will present two lectures on space subjects. He will speak Saturday, May 16, at 8 p.m. on "Science and Flying Saucers" and on Sunday, May 17, at 2 p.m. on "What In-terplanetary Travel Means to You." Both lectures will be de-livered at the YWCA, 322 East 3rd South. Mr. Neil will cite references from various religious works. Astronomical films are to be shown at each lecture. Adults will be asked for a $1 donation. ! |