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Show New Corporation Organizing in Orem Western Cycle and Butch Cassidy Honda are in the process of forming a new, publieally held company that will act as parent for both cycle dealerships as well as for a new car agency to be located in Orem. Terry Sage, of Western Cycle, d) t B alp ago, Hearing Set On Rates The Permits for 53 Buildings building inspectors issued 53 permits in July for buildings with a total evaluation of $2,258,400. The city issued 287 permits in the first seven months of 1974 for a total evaluation of $9,640,324. were figures considerably boosted by two permits the city obtained for its own construction projects. They were the swimming court complex now under construction at the Provo High School worth $957,000 and the other, the Elder Center addition which is worth $400,000. ll . Pn. the city During July of 1973, issued 56 permits for buildings valued at $822,975. By the end of issued July 1973 the city had worth 387 for buildings permits $12,676,713. Public Service Commission of Utah has set Sept. 4 for hearing on the allocation of rate increases among Utah Power & Light Co.'s classes of customers. The commission granted the company a 17.5 per cent increase in annual revenue amounting to' $18,795,452 on August 13 following exhaustive hearings. The utility has asked for an increase in annual revenue of million or an average $25.6 increase of 23.9 per cent. The commission order stated that ..."evidence shows that Utah Power is in need of an increase in its revenues to enable it to meet its obligations as a public utility in furnishing electric service. The commission has attempted to keep the amount of the revenue increase to the minimum which the commission considers necessary to maintain the financial integrity of the applicant and allow a reasonable return on the investment devoted to electric service." Stock Market Plunges To Four-YeLow Point - I Jfc w&iH ,Z, upon, -- ?r ri NEW YORK (UPI) Stock prices plunged on the New York Stock Exchange Friday driving the Dow Jones industrial average below the 700 closing mark for the first time in more than four years. The Dow had tumbled 17.68 to 686.95 shortly before the final bell, its lowest level since July 8, 1970 when the index closed at 682.09. The selling push came after a brief buying spree early in the session which pushed the Dow up more than two points, but failed to attract real interest. Roughly 1,000 issues declined, only about 360 advanced, among the more than 1,730 stocks traded. Volume totaled close to shares, against 15,690,000 shares Thursday. On Thursday the blue chip indicator moved below the 700 for the first mark in time in four years, then recovered slightly to close at mid-sessi- Mariachis and Latin dancers attractions at the grand opening of a new restaurant, Sebstiano, Friday and Saturday in Provo. The new restaurant will specialize in authentic Mexican food. Located at 10 W. Center in Provo, Sebastiano will also offer customers a chance to hear Erasmo Fuentes, one of the owners, play the guitar during the dinner hour. A professional guitariest, Mr. Fuentes has played in this area for 10 years, and he is especially known for his flemanco style. According to the other owner of the new restaurant, Jay Eitnar, Sebastiano has been decorated in authentic Old Mexican Style. Seating capacity is 76. The menu will be "Mexican food, and special features will include a distinctive mole sauce and a tasty appetizer called nachos. Nachos are a corn chip with cheese and chili jalapenos, explained Mr. Eitnar. will be featured to begin in October, and the payroll of the 25 company has grown from six in April to 42 will be the of end the year, today. By employed in production. CHECKING ASSEMBLY of an advanced of telephone system produced by Teleplex D.J. are DeGabrielle, Orem standing left, and Melvin Barrett, president of the company. Full production is scheduled Advanced Phone Sys tem Produced at Telepl ex abbreviated dialing may be employed. The Teleplex 1302 utilities all solid state circuitry and is more By RON BARKER Business Editor Teleplex in Orem will soon begin full production of what is believed to be the most unique telephone system in the world today. Production facilities are in the final stages of completion, and the company's has payroll jumped from six in April to 25 today. Accoding to D. J. De vice a included multiplex Nevertheless, telephone system," termed by Mr. De Gabrielle as the most advanced of its kind in the world. "It's but advanced, Melvin Barrett, president of Teleplex, as well as Scott Anderson, Bud McGuire, Emil Hahn, Leroy Harbaugh and Ralph Merrill. Legal Ruling president, "time-frequen- competitive phone system, according to Mr. De Gabrielle. . system is now being set up, he explained. In versaitle and faster than Utah, the telephone systems will conventional telephone systems be marketed through Business said Mr. De Gabrielle. It is also Communication Systems. Other simple to operate. distributors are already lined up In 1971, patents were filed on for other parts of the country. the basics of the system. The "This doesn't our preclude original developers of the idea the employment will go to 42 before the end of the year. Teleplex produces what is called A marketing not Carterphone Features The principal features of the system are: push button dialing for inside and outside calls; the user can move his own instrument and retain the same number; as many internal or external lines can be put on a conference call as dessired; users may transfer an inside or outside call to any other extension desired; users may hold any call; calls may be diverted to any other extension; and paging is provided; decision, supplying independent telephone companies and Bell in the operating companies future," Mr. De Gabrielle pointed out. JAPAN at ($0.25 PAR VALUE) PRICE $0.50 PER SHARE PHILIPPINES private telephone systems to serve their communications needs. The ruling declared that companies were not bound to use equipment supplied through the Bell Telephone System. Opening up the possibility of other besides companies Electric Western Please send prospectus tot supplying the businesses, systems decision made it possible for Teleplex to come into being and produced an innovative, Address m City and State Now You Know By United Press International The first cow flown in an airplane was Elm Farm Ollie, a ' Guernsey, who was milked during the flight on Feb. 18, 1930, her milk sealed in containers and parachuted over St. Louis, Mo. - You'll like the way INCLUDED Electro-Dynami- Mb 3Mm ff POOO" WSlffl On), and - ...... ". 1 .Jtk v '"'"""" i.ilIM Bangkok - - UBLE! - Denpasar BALI! Fascinating Island City at 0 M UM City Cedar City. That's important to the busy commuter. Call us and we'll send you the complete flight schedule. Manila and Lake Taal das SKY WEST AIRLINES now offers daily flights to Cedar City, St. George and Las Vegas right from the Provo Airport. In the same time it used to take just to drive to the Salt Lake Airport you can now be arriving in We're your. ..Use us! for sihtseein& y QcMhraty it', planned SPECIAL BEST HOTELS MOST MEALS EVENTS. Aik for detailed color folder BOOK EARLY with Joe and Mary Salisbury. 9 cMacjic Carpet " iDBDBaaBaapnaaBiniaa - "Travels J for co Rob Slater, 1175 W, 1300 N, Provo In - Salt Lake City, P.O. Box 373-626- 1 9172 times?- SKY WEST AIRLINES INFORMATION: 8bl377-772- PESERVATIONS: 800662 a local firm. He had his own practice for many years before working in management accounting for RCA and Bendix Division in Los Angeles, Calif., and Stirling Homex Corp., Avon, New York. He is a member of the National Society of Public Accountants, the Utah Society of Public Accountants and the National Association of Accountants. He plans to specialize in estate planning, taxes and general accounting. Mr. Theobald and his wife, Shirley, have five children, and they live in Payson. manufacturing to shopping, and all kinds of fun and fascination Name I Theobald is a native of Delta and a 1949 graduate of Brigham Young University. He served for several years as l?IInlilllV for 3 days Copes of the prospectus rnay be obtained from: 489-734- Ave. Mr. in HONG KONG Springville Milton V. Theobald, a licensed public accountant, has opened a practice in Payson at Suite 101 in Commercial Place, 145 E. Utah Taroko Gor2e and Ta'Pei SINGAPORE Provo, In Payson controller Tokyo, Nikko, Fuji,- Kyoto Common Stock 377-549- Opens Office Interconnect y adventure, November 8th Takes you in Luxury and fascination INDONESIA Tim popular in this country, but it has not been known as being particularly nourishing, he said, although it really is. "We use fresh fruits and vegetables, beans, rice, jalapenos and chili," he said, "all of which have surprising nutritional value." will be Entertainment provided for dinner guests after 6:30 p.m., said Mr. Eitnar, and other performers will be featured in addition to Erasmo Fuentes. 24-da- THAILAND GOLDEN GLOVES MINES, INC. f. Teleplex which allowed businesses to have their own. OB GOLDEN GLOVES MINES, INC. Robert Steele, 727 North 300 East, Nephi Utah 623-187- 7 Carter, 1033 East 120 South, Spanish Fork, Utah 798-781- widespread confidence on Wall Street. The blue chips and glamors In in the sell-ofwere hard-hi- t the blue chip sector, Dupont, Eastman Kodak and General Electric lost more than a point each. Joe Salisbury's Sixth Magic of the TAIWAN 600,000 SHARES In the past 11 sessions the Dow has dropped more than 95 points, reflecting investor concern with inflation in the absence of any specific measures to combat the nation's number one economic problem. Record high interest rates also have been a major market depressant. In the gloom pervading Wall Street, investers have ignored a flurry of favorable economic reports and concentrated on negative news. Analysts attributed the brief advances during the Thursday and Friday sessions to technical rallies coming on the heels of the prolonged market slump. But First National City Bank's decision Friday to hold its prime rate at 12 per cent and Rep. Wilbur Mills's statement that the tax revision bill now under consideration would benefit the small investor failed to generate The city of Los Angeles doubled its population every 10 "We don't use any years for 60 years until the 1970s. foods," he added, Now, officials say, it has reached "we cook everything in our own almost zero population growth kitchen." with more than three million Mexican food has been very residents. V- JUNE 15, 1974 14, wouldn't have come into being if it hadn't been for a legal decision : rendered in 1968, the complicated," he added. only by the prospectus. FOU UTAH RESIDENTS ONLY its lowest since July 1970. Mexican Restaurant Sets Provo Opening Accountant '''' v This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made NEW ISSUE 704 63, MILTON V.THEOBALD L Gabrielle, For Power Co. Provo Issues July 1974. s. it representing The - . around 100,000 homes but we are prepared to underwrite and purchase them," Popejoy said. "The $5 million worth of mortgages we are formally buying today are very likely the first of many to come in under the program." Provo s Business News Utah Office Opens New Orem Store line-of-cred- - 31 age Boyington Company, stock brokers in Salt Lake City, are underwriting the and joint venture between Western will be president of the board of Cycle and Butch Cassidy Honda. chairman a contraction of Stock should be ready in 30 days, Westran, "Western Transportation." pending approval. It will be sold Application is now being made to in Utah only, and Mr. Sage said the opening price will be $1 .25 per share. Western Cycle is currently the largest Yamaha dealership in Utah, and will gross $1 million this year. Mr. Sage spent 23 years with Western Union, of which 20 years were jri management. About three years D.C. The ago, while living in Phoenix, WASHINGTON, Ariz., he was manager for the Federal Home Loan Mortgage Corporation this week drew down company's operations in from the U.S. Treasury Arizona. He refused a transfer to ' Department and passed along to Los Angeles, Calif., and stayed in mortgage leanders the first $5 the intermountain area to raise his family, he said. million of what may be as much to be billion $3 as injected into the housing finance supply over the next nine months, FHLMC President William J. Popejoy announced. FHLMC, Popejoy explained, in the months of May, June and July committed to purchase up to $3 billion worth of 8 per cent mortgages between three and The Utah Office Supply Co. has twelve months in the future, thus to assure opened its third branch, adding enabling lenders homebuilders that mortgages an Orem location to its Provo and would be available as homes Springville stores. The new store, at 748 S. State, for sale. were being completed is managed by Gerald "Gus" Under the special commitment program announced by the White VonGostomski and carries a full of office equipment, House in May as part of a $10.3 line calculators, office furniture and billion housing-assistanc- e package, loans sold to FHLMC engineering supplies, according must be on new homes, may be to Delbert R. Warner, one of the for no more than $35,000 each and owners in the business.' The may carry coupon interest rates coowner is Dean W. Benson. The Orem store of Utah Office of no more than 8 per cent annual interest. The Treasury Supply has daily delivery as one Department is supporting the its services. "We felt that there's been a need in Orem for an office program through its $4 billion store," said Mr. Warner, supply standing of its services. "We felt that with FHLMC's arrangement parent organization, the Federal there's been a need in Orem for an office supply store," said Mr. Home Loan Bank Board. Warner. "With the growth in conditions market "Mortgage over the next nine months will Orem, both in the professions of business, we largely determine whether and in the way lenders deliver to us all $3 billion wanted to serve the people there." worth of loans Home Loan Picture Could Ease - Sunday- Utah-P- ar sell $500,000 in stock for the company to provide operating capital. According to Mr. Sage, who bought Western Cycle about 18 months Htta h I 37 Toll Free |