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Show 8- - -- 19W roNDAT;..?5SJBhS9 UNDAY HERALD 3 KTti!iTnrii frx j! H - ! I! !l ! T. '. f ! ! rLIn ' 'I Stocks Make Good Recovery in Latter Part Of Week After Approaching Record Lows Quotations Market Furnished by J. ' A. Hogle & Co. Member, New York Stock Exchange, 35 N, University that almost set the new loss. That Railroads did better than the By ELMER C. WALZER Editor Financial United Press Hoover's to Hold Grand Opening on Monday day prices came back from the Industrials in the Thursday and NEW YORK (UP) Stocks met worst but the market closed down Friday sessions. Their average support this wee"- when the indusGrand opening activities for Hoover's, 78 West Center, are slated 5.92 points in the Industrials finished the week at 124.12, off SALT LAKE STOCK EXCHANGE trial average approached the 1957 by for Monday, following several months of remodeling and expansion Yesterday's Bid Asked Close: and 2.41 points in Rails. That day 4.36 points. Industrials were at low set on Feb. 12. $7.12 "a 7.25 Banner work, it has been announced. V 15 14 a was the one of the lows the Rails made a new low since 456.89, off 11.53 and utilities 66.88, Silver Bristol The recovery from Gene and Howard Hoover have what they consider .31 23 Monarch Bullion Nov. session 5, 1954. sizable on Wednesday, the up 0.76. The utility rise reflected .80 .70 most unusual and finely appointed men's wear stores in Utah. In Cardiff .03 03 .. 2 Standard line with their policy of expansion they have devoted the entire Central 45 40 Chief Con and business .24 the of ..... .22 professional Silver street floor to caring for the needs Clayton .05 '2 .05 Combined Metals man. They have moved their sport and college fashions to the new Comstock .21 20 .47 .45 Eureka Cons Loft upstairs. Sport V2 .06 2 05 Croff new the will folk enjoy The management feels that men .95 92 a Dragon .07 '2 07 masculine atmosphere which prevails at the store. Old and new East Standard .10 00 East Utah .04 a 04 customers, alike, are invited to the formal opening tomorrow. Eureka BuUion .07 .06 Eureka Lilly Con .... .18 .20 Eureka Standard .07 05 Gt. Western 10 Public Invited to Cost Accounting Forums Kennebec .03 03 Majestic Oil .25 20 Mammoth of Association Accountants, National of the The Utah Chapter 02 OIV2 Mtn. States Dev .09 06 Accountants, is Naildriver formerly known as the National Association of Cost .85 80 New Park 44 .45 conducting a series of four discussion forums to be held on October North Lily .01 U 01 7, 14, 28, and November 4 in the Mountain Fuel Supply Auditorium, North Standard .03 U 02 Konold Park industrial for held are 7 forums being .21 .20 p.m. These Nelson beginning at Park .10 09 2 accountants and others interested in the accounting field, and the Park City Con 04 03 .4 Prosper .04 public is invited. Silver Kin West .. .034 .01 V2 01 The subject for the series of four Monday Evenings is "Explor- Silver Shield .17 15 So. Standard will have Swansea Con .14 10 ing the Cost Volume Profit Relationship." Each meeting : STANDARD & . IVOR'S 14 .16 a different panel of discussion leaders. Each panel will consist of Tar Baby .65 60 Tintic Standard a practicing industrial accountant, a university Professor of Utah Wyoming .65 62 2 lead.08 06 West Toledo Public a Certified assuring Accountant, and thereby Business, .17 15'2 Williston of the all subject. ers qualified in 03 .04 aspects Zuma The topics for the first session on October 7 are "How Changes SALES 1.000 at l3. Comwlth in Volume Affect Profits," and "Studying the Variation of Cost with Mt. View. Ld., 1,000 at 12. at 80. Park. 575 Volume." The panel of discussion leaders for this meeting will be New 38 200 at 42. North Lily. & of D. Harold Haight Ernst, CPA; David W. Re wick of Ernst Park . Konold. 6,000 at 3; 4,000 at 3 4 Vitro Uranium Co.; and V. Del Gardner, professor of accounting at Coal. 12.000 at 3. Royston Utah State University in Logan. Tar Babv, 2,000 at 15. 30 Ave. . a growing demand for the more it hadn't changed tight money; defensive issues. less favorable fouth quarter busiCause Unchanged ness outlook, profit pinch and the The decline, which knocked Near East uncertainties, to menprices down 9.46 points in the In- tion the principal ones. dustrials on Monday, was the Since the market hit its 1957 same one prevailing for some high on July 12 there has been time, and the news that caused an almost continuous decline which knocked prices down about $32 billion or 14 per cent. Trading f was high early in the week when selling was at its height. It continued well up for the next two days and then fell off. Had it continued at the Monday rate when sales totaled 3,160,-00- 0 shares the veek would have been the largest of the year. Turnover As Park Nelson. 2,000 at 10: 4,000 at 102; 6,000 at 11; 1,000 at ll'a; 8,000 at 12;.2,000 at 121; 1.000 at Lists Winners Contest 13: 1,000 at 13'i; 1,000 at 14; Nate Morgan Jewelers 2,000 at 15; 5,000 at 18; 1.000 at 19; 37.000 at 20. Announcement was made Saturday of the winners of a recent Western Alloy. 3,000 at l2. contest by Nate Morgan Jewelers. The winners are Vera Bailey Ivie 350 W. 6th S. Provo and Maris Geddes, 1296 N. 950 W. Provo. Announcement has been made that the M. D. Close Company has moved to larger quarters at 222 N. University Ave. Wayne Close is general manager. He is a native Provoan. R. D. pheips is assistant general manager. He has been associated with the company for several months, and has over 20 years of experience in the finance business. He is also living in Provo. The branch manager is Harold Little, Provo citizen all of his Mfe. Armco 'Steelmobile' to Visit Provo Oct. 1 The Armco Steelmobile, the only stainless steel sewer pipe on "wheels, will visit Provo Oct. 1 from 9:30 a.m. to 2:30 p.m. The Steelmobile contains full scale exhibits of municipal and highway construction products made by Armco Drainage and Metal Products, Inc. This company is the world's largest fabricator and distributor of steel drainage products for the municipal market. "We are inviting municipal engineers and other key officials planning public construction projects to see the Steelmobile," C. E. (Bill) Moss, Utah State sales manager, announced. Payson Woman Wins Trip to Hawaiian Isles PAYSON woman, Mrs. Erma Fech, has won an to Hawaii in a "Shoppers' Sweepstakes" contest trip sponsored by Utah County business houses. An Hawaiian Holiday for two, via Transocean Airlines was the grand prize for the A Payson all-expe- nse contest. Date for her trip to Hawaii will be chosen later by Mrs. Fech land her husband, Leo Fech. This will be her second trip to the Islands, since she toured Hawaii last February with a group of Other Utahns. sap , UTILITIES 4 Governor May Intervene In Price War M. D. Close Firm Moves to Larger Office 30 28 OCT. -- 1955 1957 DEC JAN MOV. t?4 ?EB. CHART SHOWS LATE WEEK UPTURN This is the Standard and Poor stock chart of the past 12 months, rig-hup to date showing the mild upturn which started price war. The governor's action followed a request from the retail oil in dustry that he intervene in the price dispute. Clyde said he agreed to study the matter and to confer with the attorney general's office. Meanwhile, Parley W. Hale, ex- ecutive secretary of the Utah Trade Commission, said current prices of gasoline did not indicate violation of the state's unfair practices act. Hale pointed out the act requires a retail markup of 6 per cent. The Salt Lake City area appeared to be the focal point for the gas war with regular gasoline down to 25 cents a gallon at many stations. 943-to MAr APR MAR. t SALT LAKE CITY. (UP) Gov. George D. Clyde said Saturday he would meet with Atty. Gen. E.R. Callister soon to study possible intervention in the statewide gas ' A- 34 JUNT; (UP) American Mo- the Rambler American on a announced that has tors Corp. wheelbase the Rambler Six 1958 cars will carry and the Rambler Rebel 8 on a of none its the Nash and Hudson brand h wheelbase and our new names. senior the Ambassador series, A new car in the lower middle-pric- e 8 on a wheelbase," he the Ambassador bracket said. 8 by Rambler will take their Abernethy said the program will place, Roy Abernethy, vice president of automotive distribution and marketing, said. American Motors will "concentrate 100 per cent on the compact car trend" next year, he said, lt cars to be marwith all keted under the Rambler brand name. "With introduction of our 1958 Ijne next month, we will have achieved ou-- three-yea- r program to integrate our manufacturing and concentrate completely on the compact and smaller car field," he said. The decision to drop the Nash and Hudson names had been agreed to by dealers in Los Angeles, New York and Chicago during the past two weeks, Abernethy said. for 1958 "Our product line-u- p will include the imported Metrowheelbase, politan on an 100-inc- h V-- 108-inc- V-- 117-in- ch V-- ! Oil Underlying Coast Lands Results In Unusual Bargaining in Property Transfers LOS ANGELES (UP- )- Oil is oil rights to play baseball. . where you find it in Southern California, and for a time the issue ci petroleum rights underneath the land where the Brooklyn Dodgers .want a ballpark threatened the 'whole effort to get the Bums into Because the "black gold" underlies many acres m the Los Angeles coastal basin, even householders and business concerns insist oil retaining or bargaining for oil rights when selling property Los Angeles. for other purposes, gambling that But now the bickering is over, riches may be theirs should any because Dodger owner Walter O' future drillings uncover valuable Mai ley decided to surrender to liquids. the city any oil or minerals found The old Los Angeles city oil today, tomorrow or any time in field now mostly abandoned wells the future in Chavez Ravine where west runs for about four miles the Dodgers want to cavort, at Chavez the Ravine site. It beyond least on top of the ground. was discovered in 1892 and O'Malley simply acquiesced to pumped "dry" hi the shallow secthe city s contention ne didn't need tion down to about 1,500 feet. sub-surfa- ce There's never been a real deep test, and besides Los Angeles developed so rapidly around the field that drilling techniques never quite caught up. Geological reports show sedimentary rock as deep as 8,000 'feet, - indicating the necessary structure for oil and possibility of another strike at this date: film stuThe 20th Century-Fo- x conHills dio in nearby BeverV tinues to make motion pictures but is quietly pumping oil prod- and Royal Dutch. The lowly Ben-gu-et spoiled the continuity of issues. Other actives inGulf Oil. cluded Curtiss-Wrigh- t, New and Westinghouse Electric, York Central. top-ranki- ng TRUCK DEEMED UNSAFE The Interstate Commerce Commission Saturday blamed the owners for a PIMPLES WASHINGTON (UP) runaway truck that careened 80 an hour down a Pennsylvanput American Motors "in the po- miles mountain last July. The comia sition of being the only company the Muimfoy Oil Co., said mission offering American built automo"knowingly disbiles in the compact and smaller Fairmont, theNeb., trucSc in an unsafe patched ear bracket." condition. A state trooper cleared the way for the vehicle of its wild There are 27 major Air Force run, thereby preventing what bases in the state of Texas. might have, been a "very tragic Clear those pimples in two weeks with H&M odorless and skin color ointment or your druggist will refund your money. Don't hesitate get H&M today and be clear in two weeks or less. Sold on a written money back guarantee v H&M LABORATORIES 9 NMkSHir Yd U.S.-bui- n o). r Ball Park Puzzle Solved SEPT AUG m midweek after a rather steady decline since July peaks. (UP Telephoto) American Motors Tells New Car Policy For 1958; Nash, Hudson Names To Be Dropped CHICAGO JUL, i tt was, the daily average turnover of 2,528,076 shares was the largest since the week ending July 12 when a rise had carried the Industrial average to within touching distance of the record high set April 6, 1956. In the previous week, sales averaged only 1,636,046 shares. The market was the broadest since July 19 with 1,408 issues appearing on the tape. A total of 561 of them set new lows, the most for any week since June 8, 1953 when there were 688. The declines totaled 1,033, most for any week since Sept. 30, 1955, when there were 1,128. Only 245 issues managed to gain and only three of these set new highs. It was noted that the greatest activity centered on the blue chips. Bethlehem Steel led in turnover with General Motors second and Standard Oil (N.J.) third. Then followed such issues as Chrysler 1 RAILS Large D AUTMM'O 85-in- ch IT V f llill' I LLnWiX yA' i . '. -- ONLY i ucts up around the make-beliemovie sets. And oil companies are seeking oil rights leases to any likely drilling sites in the city's residential areas. ve OWIXlEftlEOB THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES. THE OFFERING IS MADE ONLY BY THE OFFERING CIRCULAR. The public offering of stock and debentures shall be sold in units of $1 10.00, $550.00 and $1 100.00. 22,000 Shares Common Stock at $1.00 Par Value 745 Debentures of various denominations pay only 7.28 per mo. NO SPECIAL WIRING NECESSARY Tea can plug it in Just like your toaster. This new General Electric Dryer can be It or operated on either a circuit. Automatic tow For as Swwpi CI cons. thorough cleaning SHUT Insert a Pcmwi fill it ft fastest a Utah Corporation, licensed and qualified to do business under the Utah Industrial Loan Act and the Small Loan Act. Copies of the offering circular may be obtained from the Underwriter named below. EXTRAS FOR YOUR CONVENIENCE The full width door swings to the side and out of the war. It's easy to clean,; durable and porcelain Dryer top is counter heirht ideal for folding clothes. i ADJUSTABLE CONTROL Temperature control dial allows yon to select drying times aceordint to fabric tfc automatically ihe cleaner sort m M. D. CLOSE FINANCE CO. COM KtOH Gives 50 mops tion with took. More clean ing 1958 G.E. is EASY BUDGET TERMS E!HA 1957 G.E. Custom Filter-Fl- o AUTO. WASHER AUTO. WASHER with Save 90:00 with! trade .. G.E. Deiux G.E. Combination AUTO. WASHER-DRYE- R 19995 trade RUSSELL SPECIAL NOW 4 with trade 26995 Filter-Fl- o WASip Reg. 299.95 Filter-Fl- o DIXON TAYLOR 230-vo- it 115-vo- Q95 OOQ9S Now Only CONVENIENT TERMS 2k i .Ji4e WAYNE CLOSE 222 N. University Avenue, Phone FRanklin Provo, Utah Please send offering circular of M.D. Close Finance Co. to: 3-83- I j 00, In ;f 3 V 7a A L Q S 5 D Q V 1 NAME ADDRESS - I- .. ... .... ........ ....... ... .CITY. . - r , , . , r , ... , , 266 ... ,..r: r . . 3rd imi mil WEST SH OEMCAIJ PROVO S: & UNIVERSITY AVE: I GO Ph'OrJE FR 3-80- 50 980 |