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Show r t e 33 Ctl SiSITCi I "' " ir-r- v" I II i 'If MUFFLING SOCIETY'S NOISE for the past 19 years has been the Midas Muffler shops strung throughout the U.S. Last year Midas sold 2.9 million mufflers and enough tailpipes to circle the earth 30 times. Utah sales alone are 1 II - 7 An orously with banks, real estate NEW YORK (UPI) influential Wall Street executive and insurance companies and has predicted "vast changes" in viceversa. Creation of the Street of tomorrow and outlined how his firm has central marketplaces in such positioned itself to be one of the strategic financial centers as New York, London, Tokyo and "six or seven financial oligopolies" surving Cugressional dic- Beirut because wealth is being tated changes. accumulated outside the United Richard H. States, especially in the oil The picture Jenrette, president of the kingdoms of the Middle East. Donaldson, Lufkin, Jenrette, Inc. The disappearance of exfinancial services holding clusive, traditional banking company, painted for UPI is a relationships as institutions and bleak one for some 390 New York corporations search for the brokerage nouses. special investment skills needed His scenario for the New York to operate in ( broadening securities industry after April, investment areas. 1975 when all fixed commissions more Business becoming disappear for the first time after intensive, forcing the capital 182 years of such pricing dominant brokerage firms to practices, calls for over the next raise capital as well as invest it. - The (UPI) Federal Trade Commission (FTC) has accused Ford and Chrysler of making false claims fuel of -- in economy- - of their cars advertisements during the height of the gasoline shortage last winter. The agency said a similar complaint was made against General Motors but the company had signed an agreement pledging to discontinue such advertising, whereas Ford and Chrysler are fighting the complaints against them. The FTC said Ford had no reasonable basis for claiming . that drivers on long trips could get 26.6 miles per gallon from the Mercury Comet, 32.4 miles per gallon from the mercury Capri, 28.3 miles per gallon from the Mustang II or 26.7 miles per gallon from the Ford Maverick. The Chrysler complaint alleged that the company made false comparisons for its small cars with the Chevrolet Nova. The FTC said some Novas got better gas mileage than some Chrysler cars and the firm erred crass-count- in a making sweeping comparison. In the General Motors case, a . agreeparticularly sweeping ment prohibits the country's biggest auto producer from making deceptive fuel economy claims for any of its cars and from talking down its compete-tor- s ' in terms of their fuel economy through false or misleading comparisons. The ad that triggered the complaint against GM involved the Cadillac El Dorado and. claims that it was superior in fuel economy to other cars in its class tested by the Environmental Protection Agency. The FTC said the test did not show the El Dorado superior models and that in fact even a majority of the other cars in the class tested got more miles to the gallon than the El Dorado. He pointed out that the ads in question were carried in late January and early February during a period when there were long lines at gasoline stations. Rousch said Chrysler has ceased the advertising but the agency had been unable to determine whether Ford would do so. Ford issued a statement saying it categorically denied the charges and that the ads in question had clearly stated all drivers could not expect the expected to reach 25,000 units in the five shops, including the shop in Orem managed by Mack Butler. Midas has been in Utah for 19 years. , UPI Telephoto State Taxes Improve 'Image' With Taxpayers State taxes are improving their United States public favored the "image" with taxpayers, notes a revenue sharing program in an even greater Commerce Clearing House April, 1974 margin of support than was report. found when the program was just At least that is the conclusion drawn by a recent Advisory getting underway. Respondents on in all categories strongly favored the sharing program, according Relations Intergovernmental public to the survey, CCh said. survey on changing On the subject of regional attitudes on taxes and variations noted in the survey, governments. for state The percentage of taxpayers strongest support who feel that state governments governments was found in the give taxpayers the most for their South and West. Support for local tax dollars rose from 18 percent governments varied from 35 per in May, 1973 to 24 percent in cent in the North Central region to 22 per cent in the South. . ". April, 1974. , CCH noted that fewer people Disdain for the property tax was than in the past two years feel the strongest in the West, while Federal Government gives disfavor was weakest in the taxpayers the most for their tax South. CCH said the Commission bite. Two years ago, the Federal selected a was survey was based on a personal go government by mnroin IpvpI nf interview as fWinitp thp research effort " O'" government providing most conducted among 2,173 men and (being favored by 39 per cent). women 18 years of age and older, This year the Commission living in households in the survey , concluded that the Continental United States. Federal government (29 per cent) has lost the most favored position and is virtually tied with Commission t 1 t no i :n popularity. are the most and the least fair taxes in the taxpaying Which five Regressivity pressures intense and1 more become sophisticated. And a world economy taking shape despite fits of nationalism, with multinational companies President said an in the second improvement quarter pushed earnings for the and Gerstenberg Edward N. Cole first six months to $426 million still nearly 74 per cent behind last year's record $1.6 billion. Gerstenberg satd the sales recovery noted in the second quarter this year, however, was expected to continue for the balance of theyear. "Buyer confidence, while still not at a favorable level, has improved and now that gasoline is in greater supply, this confidence should strengthen further if progress can be made under in bringing inflation control," Gerstenberg said. However,: he warned that the growing confidence will falter if inflation continues unchecked Sales for the first half were listed at $15.2 billion, down 21 per cent from $19.2 billion in the first half of last year. Second quarter profits of $306 million were the lowest since 1961 but still were more than 250 per . cent dismal the above, $120 million the Per-shar- for earnings e the 0 rj ; Recreational Vehicle Institute Inc., Des Plines, 111.; McCollum Ford Sales Inc., Spokane, Wash. ; and Camp Chevrolet Inc., Spokane. Deep quilted DIRECT MAIL priced for our sale! I ADVERTISING second quarter were $1.05 compared to 41 cents in the first quarter. The GM report was the first from the nation's auto industry, which was hit harder than most U.S. industries by, the energy crisis and inflation. t AFAQS "tjjj53 KING SIZE We're Specialists 10 yrs. 1 drop in favor, respectively. The two taxes, however, were still chosen more frequently than the other taxes, CCH noted. Americans have apparently, warmed up tp revenue sharing. Sixty-fiv- e per cent of the total Gene R. Mangum has been promoted to the position of Director Treasury Operations and A Mil Crl iii m mm 6 C a bar-b-a- number of accounting, controlling, and credit positions with his most recent post being General Manager, Corporate Credit and Accounts Receivable. Prior to joining Samsonite, he held financial posts with Karman Kitchens and U.S. Steel Corp. QUiiNSIZi 1 5 yrt. Guarantee m m m m QUIINSIZI Guarantee 10 yrs. Oho quilrt G ndtciilly prictd (or our ad! 8B08 !l Free Rotissoria with purchase of a aai Samsonite Planning, Corporation. A graduate of Brigham young University, with a B.S. degree in Business Management, he joined the Company in 1969. He has held mm 0 Guarantee. 95 u 1 Receives Grad School Degree BIG SAVINGS TO YOU ON SOFABEDS OVER 50 COLORS SAVE as low as 1 9995 jfl MASTERCHARGE BANKAMERICARD 450 FIESTA The large, deep fou cooking level grill. 343 sq. in. cooking area. 1974. In I two-wee- k survey were asked to respondents designate the fairest tax, they named the Federal income tax and state sales tax less frequently than two years before, recording a 10 and nine per cent Samsonite Promotes Orem Man GAS GRILL HEADQUARTERS e Bank Executive order to qualify for Mr. Simmons graduation, greatest reasons for the attended three resident unpopularity of the property tax. When the Commission GENE R. MANGUM wm " have the best selection of outdoor gas products In town. We feature quality El Patio multi-levgas barbecue grills. 1 v, J1Z QUiEN SIZE 15 yrs. Guarantee in 26 worst for the company years. 7r 0 KING SIZE Automotive Service Ind., Seattle; Northwest Marine Industries Inc., Seattle, a marine, equipment trade association; Trailer Coach Association, Anaheim, Calif., a recreational association jti 20 yrt. Guarantee Commercial are vehicle 25, Bd KING SIZE which cited EPA fuel economy figures. The other two involved lack of substantiation for claims on the part of Ford and deception with respect to other test results on the part of Chrysler, Rousch said. In addition to the actions against the automakers, the FTC announced it had signed six consent orders agreements to cease challenged advertising with three new and used car dealers in Washington state and with three trade associations which promote boats and vehicles. All of recreational those cases also involved energy related advertising. They age One. reason for the mergers and dropouts, said Jenrette, is the restructuring of the market even before the movement toward negotiated rates. - beginning to improve, it will falter if inflation is not controlled. GM Chairman Richard C. Utah-P- benefiting. "Wall Street has operated under the- New York Stock Exchange's pricing umbrella since 1972 with the Security and Exchange Commission's regulatory approval of fixed commissions since the 1930's," explained Jenrette. "Now, next April, the SEC says all fixed commissions are out; rates must be fully negotiated." Jenrette noted that some 700 ' brokerages operated on Wall of fixed Street in the heyday rates. But the SEC has been chipping away at fixed commissions for years, banning them first on sales over $500,000 and then over $300,000. In the process, more than 100 NYSE member firms have disappeared since the end of 1969. GM Reports Earnings At last year, yet sharply different Banking at Rutgers University, from that of 1972 when the local New Brunswick, N.J. A former Young Brigham property tax was considered by far the "worst" tax (by 45 per University student, he was one of 298 bankers from all parts of the cent), CCH noted. the class of and unfair country making up assessments were cited by The Commission survey as the Government Elimination ger, buy-ou- t but about public's eye? Almo B. Simmons, Vice As the least fair tax, taxpayers chose the Federal personal President of Walker Bank and income tax (30 per cent) and the Trust Company, Salt Lake City, local property tax (28 per cent). recently graduated from the This reply was similar to that of Stonier Graduate School of . years: through meror shutdown of all same fule economy: because of ads in question were "both 110 of the remaining different driving habits and accurate and fair." 500 brokerages in New York. J. Thomas Rousch, head of the Brokers with large branch equipment. Chrysler said it believed the FTC's Bureau of Consumer office networks competing vig said the actions Protection, "mark a comprehensive FTC effort to insure that consumer the energy about anxieties situation are not exploited by which is false, advertising misleading or unsubstantiated. 1 6-Y"The FTC will expect all Low DETROIT (UPI) General advertisers to turn particurlar-l- y square corners with respect to Motors, the nation's biggest - their lowest product claims during this automaker, reported its first half earnings in 16 years 'area of national concern," he Friday and warned that, while said. The GM case was the only one consumer confidence is ear Provo. - round-the-cloc- k FTCKnoclis Auto Fuel Claims WASHINGTON 1, 1974, Wall Street Executive Predicts Vast Changes MlWMWMMMMWMMMMMMWIMaMMMMMMMMMMMi""" Ilidi August 1 "vA " A l i u (I . Business News ill " - t V Wllf i li VV eft. ( 1 Thursday summer sessions, completed two years of research extension work, and submitted a thesis. During the final resident session" he defined his thesis before a panel of experts on the subject. After graduation from BYU Mr. Simmons was a bank examiner with the Federal Deposit Insurance Corporation in San Francisco until joining Walker Bank, and Trust He presently Company in 1960. lives in Bountiful with his wife, Rita, and their three children. BRAVO PORTABLE Perfect three-lev- grrtl tor average size tamilyZ89sq in requires no installation. ISO W.it I IL II "III ill 1 LPgasself-coptaine- d tm, C.nl.r 7 CIDCDI A huge double grill for BRAVO 2 those for whom only the best will do. 538 sq inches Arte HUT JI a t air ti vjr G -- L " ii) CAS SPKIMTICS SHOPPt Jlfc-M-- C. ond Provo t -I I |
