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Show S Sunday Kerala SUNDAY. JULY 13, 1961 Prove Utaft Stock Market Dips On Depressing Nevs Home Builders Have Own Problems With Inflation I recent survey. But you could be (IPI-T- he inflation have1 wasting your money if land knm. builders' doesn't increase in value fast mvm,w they should buy a large block of enouga. The study asserts thit land and hold it as a hedge! "land being held for future use v sale must double in aeamst the inevitable increase or fufu " 1 . . in five and a btt to value costs. in land JvTW YORK (UPI) ' News remarks of Treasury Secretary for the week virtually ended the r ;, All wWl and good, says fee: seven years in order to justify M. Kennedy were the chances of a summer rally os tne International and domes-Davi- d a ur Land Institute Urban jn .holding after the market 'i gain the tie fronts was depressing this major depressant. There are plenty of pressures week and stock prices turned! The market turned down on .week before. on lan j developers and even the Com in one of the sharpest each of the first four days, then fraAws wnerallv wa unin- lossei of prospective home buyer to get the vear. fuusnea mixea . on rriay -ini spired Wlth " . . . remaining - :l rZ T"1 , . j land eot even though the start v.owmc . , wrewmg icars bdoui me jirst three days, and rising of construction may be a long dlo'East situation touched off,as a technical reaction to the aJ0ve thu fcei for the final time off. the survey conceded. during which two days !t W2J ' of the bymark$ of U.N. Secretary prolonged slide t I U X oversold, became issues and about the' Thant A housing development of anyi many Garal slowest weeks this year. Some domestic economy indicated by Many felt the market's action ianaly;ta note(J size must be properly planned deser. uon of the stock market for the and this jlmost always requires somewhat more certain future the purchase of more land than of bond prices. is needed for actual construcThe -tion. There also is the problem The Middle East situation has WASHINGTON1 (UPI) made the stock market edgy council of the Organization of of adio;jine property. The de from time to time, but on Mon American States (OAS) was veloper wants protection against day Thant said "open warfare" called into an emergency ses undesirable use of the lots next now exists along the Suez Can- sion Saturday at the request of door which would cheapen his -al. He indicated the U.N. peace- - Honduras which charged troops own property. C-j Mineral production, especially Business in Utah during the Salvador El from the forces neighboring there have if So must, Keeping you may buy second quarter of 1969 was good metals, was somewhat above to border common violated their be withdrawn. survey concludes, but calculate to excellent by most measure- last year. Copper production at three points. The was market still the cost so you know what you a in ments and the outlook for the during the second quarter apThe session, which diplomats are doing. AN OREM MOTHER AND DAUGHTER are shown as they received Utah's first Medical third quarter i5 also generally proached maximum operating bearish mood the following day, described as "informal and Self when so Example turning increasingly Jlelp Humanitarian award, presented to Mrs. Louise C. Harmon by Governor Calvin L levels of about 25,000 tons per good. was called for 3 pm Hampton in Salt Lake City this weekend. Pictured with her is her daughter, Lori, 3, whom Here is how the survey This is the report of the quar- month, while lead and zinc were Kennedy again warned that private," will be held at the aDDroaches the cost of an and wage controls could EDT and Mrs .Harmon saved with resuscitation after the child fell into an irrigation terly First Security Bank News both somewhat higher than the price residence of Colombia's e an private to alternative (Herald-UP- I ditch land: of near congres home. to C. Max Telephoto) of undeveloped 1968. same piece Letter, according period sional failure to pass the income OAS Ambassador Carlos Hol- Elliott, vice president and manGold and silver production 1 tax conservative 7te per Take surcharge extension. Selling guin. ager. The News Letter is edited also somewhat higher with gold intensified. Added momentum The Honduran charges, made cent interest rate for a loan to by Dr. EIRoy Nelson, First Sen from Ambassador Ricard A. buy the land, add real estate Israel an about by 34,000 jstemmed curity vice president and econo- output running nouncement that it had shot Midence Soto, were denied by a month. Gold ounces taxes of an average ltt per per prices down mist seven Syrian planes in an- - spokesman of the embassy of The publication reports that have fluctuad below $42 per cent of the market value, add PRAGUE (UPI)-Wor- kers at Plant stopped work for two Husak," Pravo said. la. Salvador, who said it was a air fight. V of 1 per cent for caretaking production, employment and ounce and stiver is selling at hours to discuss and vote in Husak traveled to the Ostrato Salvador tactic Czechoslovakia's steel make El biggest The uneasiness inspired by almost $1 and liability insurance costs. mill trade were aU higher during the $1.50 an ounce support of the. letter from as the a letter that posted aggressor second quarter, and by June below the peak reached in June Kennedy's remarks continued appear Tam add in last year's 4 per "rudelv attacked" Communist Ludvik Pachman, a supporter va plant July 3 to make a the next day even though the nationally televised speech urgtotal employment wos 9,100 of 1968. cent inflation rate. This means Midence Soto said national the land's value has to increase party Chief Gustav Husak and of policies begun by demoted ing steelworkers to refrain Steel operations in Utah are White House said it had no in above 1963 totals. Personal inChief former Alexander from party urged labor to resist party guardsmen from El Salvador 13y. political activities and come for the first half year ex- generally at optimum capacity tention of imposing wage-pric- e pe: cent & year to be a domination, Rude Pravo said Dubcek, to workers at the the crossed border controls. reportedly unite behind his orthodox h ceeded $1.5 billion, an inr aase with nine investment. furnaces good Kiement Gottwald Plant near Communist Saturday. which art et developments within the Into Honduras at three different of almost $90 million over one operating. Uranium output is policies, a $100,000 plot The report in the official Ostrava. 4 In He real terms, said points "normaliFriday night. to fulfill the Finance Committee. designed year ago, but disposable income lower while coal production for Senate would have to increase Communist of They voted to post the letter zation" process required by tht party Increased by a smaller amount the first half year was slightly which is considering the meas Salvadorean soldiers were of land newspaper to Czechoslovakia indicated Husak on their bulletin board ure, continued to make Wall killed in the fighting, according to $113 250 the first year due to additional federal taxes. below two million tons. along Soviet Union. would to It received information he its had iustifv purchase. has not completely tamed with a photograph of a student He belittled the efforts el Street nervous. With the Demohave to be worth $128,255 at the resistance to his orthodox worker protest meeting held at Pachman to crats insisting the proposal be from his government organize protest The to Honduran ambassador end of the second year, $14a,250 Communist policies within the the Ostrava plant a month ago. tied tax reform, there were the Ostrava among meetings on so and indications it would be months identified the border points as by the third year powerful steelworkers union. "The publication of Pach-rtian- 's workers. Pachman is a chess before Congress completed ac- Aramecina, La Virtud and until its value is doubled before The report said an undis letter is a provocative grand master of considerable Goascoran. tion on the surcharge. the sixth year ends, the survey closed number of workers at attempt to affect the efforts of intellectual renown in The Salvadorean spokesman asserts. The major purpose of the sur the Kiement Gottwald Steel the party and rudely attacks tax is to relieve some of the in said his embassy talked with El "It is important to keep In Salvador early Saturday and mind that if this land is held WASHINGTON (UPI) -- The A. Volcker, Treasury underse flationary pressure on the econ omy. As a result, inflation is "nobody there knew anything for 11 or 12 years the value has pro- cretary for monetary affairs Treasury Department considered a boon to the stock about such alleged attacks." must quadruple to justify its same time, the posed a $390 million increase in At the the the New market, Ex The Stock York theory being being held," the study warned thouannual earnings for the Treasury said, it will ask more available for loss Index indicated of a money change sands of Americans who have Congress to remove the Vk per The report does offer solu the more will find its $2.16 in the average common spending, billion in invested $52 tions to would-b- e block buyers. savings cent ceiling on the interest the share price. Standard & Poor's The new owner can turn the way into securities. bonds. on pay may government Still, Wall Street fears that a The Treasury spelled out the longterm "marketable" bonds newly purchased land to some details of its plan to ask sold through commercial money delay on the surcharge could 500 Stock Index finished 3.84 on income producing use such as mean an economic bind that Congress to increase from 4 markets. agriculture, mining, timbering would be bad for it as well as the losing side at 95.77. to 5 per cent the interest rate or oil production until he is Wants Ceiling Removed The Dow Jones av Industrial the country generally. Thus to develop it. He can also onrsavtags bonds. MARKET-5- 86 ready lost twice more than as Volcker said the Treasury speedy congressional action on erage "A rate increase is necessary wants with a strong financial affiliate much as it had gained in the to the measure would be the removed ceiling to be fair to a great number of cheering 33.87 to 852.25. institution which can provide aaaea flexibility in to the securities markets. previous week savers who have faithfully provide with the capital he needs management of the National The market found little solace In the week before, with only him keeo his land and his bought bonds over a long Debt. But he said the to of four sessions the because govern period of time," said Paul ment has "no immediate plans " as it would have at some oth- July 4 holiday, the average had solvency. CHOICE MEATS FARM FRESH time in the White House But the warning is still clear to sell longterm bonds at er risen 16.32. The DJ Rail Com announcement of a cutback in lot fell and com the to developer 6.72, single ponent current inflated interest rates. utility VEGETABLES GROCERIES the Pentagon observation of a owner alike. Don't bury your The government has been ponent, 1.99. in infiltration in drop enemy the in Volume for four the unable to sell longterm bonds sessions homebuilding plans Vietnam. 3 WE GIVE GOLD STRIKE STa4MPSC was 51,806,580 shares against ground. since May, 1955, when market The Stock UPI Market Indi week be the 40,000,390 interest rates first exceeded the holiday cator finished with a loss of 4.52 fore an 62,503,850 m the year Furnished by Goodbody and statutory ceiling. to 109.41 on 1,708 issues traded. ago week. Volcker said no Of Although Company. Member New declines outnumbered these, York Stock Exchange, 43 N. "Marketable" bonds would be advances, 1,349 to 259. There sold in the foreseeable future, were 503 issues which set new University Ave. FASTEST the proposal drew criticism lows, 15 at new highs. from the chief congressional DELIVERY critic of high interest rates, SALT LAKE STOCK SXCHAN6I SERVICE FRIDAY, JULY 11, 1969 whether the market went up or Rep. Wright Patman, Bid Asked "The removal of the 4 per down. niwr Mng 41 CO .00 IN TOWN Bristol Sllvar M , 34 cent ceiling is tantamount to a The Treasury plans to ask Bullion Exp. 1.70 1.T5 Bullion Mon surrender to a permanent state Congress to remove the interest an .85 Chanson $!lvr .70 .o of high interest rates in the ceiling from both savings and Chtef Con 60 .70 CtiKf Con U.S. economy," said Patman, marketable bonds. It coupled .12Vb J.2S 95 1.05 Clyton Sllvtr chairman of the House Banking the savings bond proposal with Colo. Conj 23 .28 Comb. Metalt 23 an announcement that .25 if and Currency Committee. Comtt Co 23 .25 National Finances Debt Comitodc Tunnel Congress grants the authority, 1.25 1.50 Cons. Eurtka s--Z 40 .45 The government now finances the rate will be set at 5 per General Corp. .... 1.62'A 187Vi Cr. DEPENDABLE the national debt with the sale cent Croft Oil 55 .60 1.20 Crown Point 1.35 of short term "bills" at interest The increase would be made 40 PRESCRIPTION .45 Dragon rates which fluctuate with the retroactive to June 1. Treasury 1.75 2 00 Est Utah 20 .25 Eroplra SERVICE officials said it would be market. 20 Eureka Bull .25 60 Eureka Lilly .65 The sale of longterm bonds unnecessary for savers to 1.35 1.50 Eureka Std Phone 373-267- 2 would obligate the government convert bonds they no hold to .12Vi .12Vi Galconda 40 .45 to pay current rates for years new ones in order to gain the Gold Chain Free Delivery 39 .42 Goodell Monorail into the future, regardless of higher yield. 22 .25 Great Western o.. aiia-jwua- i. .. WASHINGTON nrMsurM rr ti ' Honduras ""'"u Charges Invasion fas V vjr - Mi 3rd Quarter Business OutlookGenerallyGood VP. til mouth-to-mou- '.vUL- th Czech Steelworkers Defy Commies open-heart- Treasury to Ask Hike In Savings Bond Interest Rate (o) 3 West 3rd South, Provo ETO SUNDAY and Market Quotations WmGWLATmATmm K Avail's nA CAEPET BMCIUIW EMMIJSE BASEBAILIL TEAM!! rugs Ml 4.12'4 Horn Silver Kennebec Mammoth MOvlematle New Park New Qulncy North Lilly Park City Com Pat Premier Prlnca Com 4 62Mi 7 50 2 50 175 10 W V 4 3714 5.00 9 00 3 00 9 25 25 150 125 25 20 .28 .18 .25 so a 00 20 2 12' .55 J 37' 7 50 14 50 90 1! PICO sape on 7 Sioux Mines So. Standard Standard Mitall Sundance Tlntlc Lead Tlntle Standard 20th Century Unlted Park City Utah Cons 13 14 50 525 Water Wonder WIIHaton Basin 500 2anner Manj. at 14 ion S.J' 3 25 17 90 500 at .2. Standard 600 at 4; r 379 Fund .... 1079 Enterprise Fund Fidelity Cap ! Fidelity Fund Fidelity Trend .... Financial Dynamic Fletcher Fund Fletcher Capital Fund .. 8i-- 00 Inv Fundamental IU Aanhetten Fund .... jf.W Growth Inv. Mass. 15.31 Mass. Inv. Trust 14 1 Fund Putnam 11.18 Putnam Growth Wellington Fund Ml Windsor fund E. and H. our business, not a sideline" THIS WEEK ONLY!! BRONCO SPECIALS is "Carpeting Indoor-Outoo- r - ... Carpet B- -l. n " 4.15 ? '57 5 ! 2J75 JUST 2 ROLLS LEFT, MOSS GREEN AND REGIMENT RED INDOOR SPECIAL WERE ON THE MOVE! DESERET TRAVEL ANNOUNCES A MOVE TO NEW end 288 NORTH 100 WEST HEAVY K0DEL CARPET $099 We have 1, 12' roll of moss green Kodel Carpel that we are markbsr down from $12.95 a square sa. ya. yara to ui low low price oi & "DRIVE A LITTLE-SA- VE A LOT" JJ- PROVO, UTAH FHA approved pad. CARPET DISCOUNT HOUSE - 373-382- 2 1600 WEST 30 SOUTH-PROVO-374- 1473 5.43 ,nh0IiJ 0Vf q. yd, LARGER QUARTERS et 875 7.91 13.04 Sq.Yrf. NOW! sq. ya. 2'A. MUTUAL FUNDS Affiliated Dividend Shares Oow Theory f 1st in Baseball & 1st in Carpet yt.yj Sundance 800 at 14. Tin. Lead 4300 at 90. Water Wonder JOO at 314. Fund h BRONCO LEAGUE CHAAAPIONSU 40. 1500 at 4'i Horn Silver 1500 at 200 at Kennebtc 400 at 4V4; 1300 at 4H; 474. 300 at 4fe; 27. Park City Cons. 1000 at So. i yf ' SALES Bullion Exp. 100 at 175. Bullion Mon. 500 at 85. Champion SH. 200 at 55. Chief Con 100 at 314. Comb. Metals 1O00 at 24; 2000 at 13. Craft 13.500 at 55; 500 at 52'. East Utah 900 at 1.75. Empire r fit 400 5 15 00 EXCHANGE SALT LAKE 87' 87' to (ACROSS FROM SEARS) AMPLE PARKINS Just off th West Center Frwway Exit |