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Show Up and Down ihe Street 'T -,i, mini H, "Utah May Need 'Referee' To Conserve Crude Oil $84,000,000, It was reported Saturday. Sat-urday. The federal reserve ayitem said demand deposits of individuals were (174,000.000 a against 1172,-000.000 1172,-000.000 and time depoait. SM.000,-000. SM.000,-000. compared with $92,000,000 at the same time In IMS. Pick Croup Socratary Carroll A. Lake, Casper, Wyo has been named executive aec rotary, ro-tary, Rocky Mountain Oil and Oa Assn., It was announced Saturday. Sat-urday. Mr. Lke has apent X7 year In the newapaper - bualneaa, having served on the Chriatian Science Monitor, St. Louis Globe-Democrat and on Grand Rapid, Mich, dailies. By Kobajrt W. Beralek There may be a leaaon for Utah In what T. S. Petersen, president of Standard Oil Company of California, Cali-fornia, aatd this week about the crude oil surplus In hi state. The former TJtahn, writing In the Journal of Commerce, report-ad report-ad a serious supply-demand "unbalance" "un-balance" on the weat coast becauae of the continuing overproduction of crude oIL On of the reasons, hs believes. ' rest in the fact that California baa no petroleum conservation law, despite the fact that It Is the second largest producing state In the natlo-i." , K educed Drmaad Other Incentive to overproduction, overproduc-tion, and consequent glutting of the market, are placed on the lank Dsclarst Dlvldsnd Directors of the Bank of America Amer-ica have declared a regular divt-dent divt-dent on their common stock, It wss announced Saturday. Payable Pay-able Dee. 31, ahareholdera of record rec-ord at the close of business Nov. S0( will receive $1.25 per share for the six months at th annual rate of $2.50. ' At th asm time, directors voted unanlmoualy ia favor of a future policy of dividend payments oil s quarterly tjesi commencing March 81, 1950. ScJi4ulo Opening ' Th new Parry Implement Co. tare, 8915 8. 8tte, will have It grand opening Monday, marking th first major expansion of the 25-year-old firm, which atarted in Rlverton. Th firm carries a full line of Ferguson System farm machinery. ma-chinery. To Sponsor Movlo Th Utah Building and Conatrue-Uon Conatrue-Uon congress will sponsor th pedal pe-dal ahewlng of a color sound film, "Clean Waters for Utah." Wednesday Wednes-day at t p.m. In Barrett hall, 80 N. Main at, R. A. Hart, congrea xtcutiv secretary, said Saturday. -; Assist Marketing Max Lehmann, Portland. Or., p reel dent. Pet Food Company of America and Northwest Packing Co., formerly of Salt Lake City, is here to assist In th test mar-ketlng mar-ketlng of a new product accelerated development of field caused by the war and postwar periods, and reduced demand for heavier crude. Point 1 that Utah, although Just smerglng oa a career aa a crude oil producing state, hasn't any eon-. eon-. nervation controls, either. Thus far th fatmesa and good sens of th producers ha prevented pre-vented ssy damage of resource. - But Ihtt h-T baaa tenalnna la keeping thto "gentlemen' agr-ment" agr-ment" ahva particularly concerning concern-ing Ashley Valley field. And while operators in th state do not want a "dictator," many of them feel a referee with a knowl-edg knowl-edg of the oil and gas gam would k aa asset. , ..... . . Avoid Wasting . A Mr. Petersen puts It: "Ofl Is one of our greatest natural re-souroas re-souroas and It la a matter of primary pri-mary public concern to avoid wast, big It ' "Production In excee of de-. de-. Biaad, If continued for any length . of time, Inevitably results In waste and higher coat. ' The best way to store unusabls ell I to keep It underground where ' It will be available tor It most efficient us when th need arts." , - S. L loan bxraa . - Total .can In fores In Salt Lake bank on Nov. 2 war up $3,000,000 compared with a similar period last year, when loans equaled |