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Show I Brigham City, Utah December 29, 1977 Thursday, BOX ELDER JOURNAL, Babson sees 1978 as bringing gains (Continued from page 1) 2 the percent range over those expenditures in 1977. At least half of the increment will, however, reflect inflation, while compliance with environmental and safety standards will command a good share of such spending. Thus, only a modest improvement may be seen in the nations productive capacity. The primary emphasis will be placed g productivity-boostinupon machinery and equipment rather than on a trend already new plant structures evident in orders for capital equipment during much of 1977. 10-1- would not be unduly damaging in the battle against price runaways all along the line, but if radical OPEC leaders prevail, a return to double-dig- it inflation could occur in 1978. Industrial Production The physical volume of production from the nations factories, mines, and utilities plants slipped a notch early in 1977 owing to the harsh winter weather over many sections of the country. But the uptrend which had started in the spring of 1975 was rapidly restored, and there was consistent progress until midsummer when there was another brief hesitation. Overall, however, the average for 1977 exceeded that of 1976, though the percentage increase was considerably more limited than the 1976 surge over 1975, as the Babson 1977 forecast anticipated. While an extension of the uptrend into 1978 is expected subject to possible disgressions resulting from labor disputes the rate of increment seems destined to shade off somewhat, though not as sharply as in 1977. Industrial output in general may rise around 5 percent in the new year, only fractionally less than during the year just past. The economy can obviously not count on much more than nominal strength from industrial production in 1978, but tax relief of more than token proportions for both individuals and business could bring about a somewhat better showing. Among the more promising performers should be output of railroad equipment, electrical and electronic products, and building materials. Some of 1977s more hesitant lines, such as steel, should manage to chalk up at least modest improvements. year-to-ye- year-to-ye- Support from Business Capital Equipment Despite the limited contribution of industrial activity, there should be more efficient utilization of productive facilities. Since some high-coplant and equipment were phased out in 1977, business capital outlays in 1978 may well post an advance in g cost-cuttin- There will be no large-scal- e capital spending upsurge' of the type seen in other business booms of the past 30 years, even though the competitive disadvantage of many American goods as compared with foreign items strikingly points up the need for modernizing more of our domestic facilities. Little Help From Inventory Stockpiling in There was a surprising step-u- p business inventory accumulation in early 1977 as both businessmen and consumers anticipated some form of individual income tax relief. But when the tax idea was scrapped, retail trade slowed down the suddenly burdensome inventories had to be liquidated and inventory policies remained on the defensive for most of the year. With the lure of another possible tax cut in the offing, the pendulum of inventory changes may well swing toward the aided somewhat by positive side in 1978 the prospect of higher prices. Business confidence, however, is not strong enough to generate a real splurge of inventory accumulation, and higher borrowing costs will be somewhat of a deterrent. Thus, we look for the influence of business inventory accumulation on industrial activity in the new year to be more supportive than expansive in nature. A st Relatively Quiet Labor Front Since relatively few labor pacts expire in 1978, the economy is not likely to suffer crippling national strikes of major magnitude. The early weeks of the new year, however, may feel some dislocation as idle coal miners attempt to finalize a national pact and settle local grievances. Elsewhere, labor problems will focus largely upon negotiations in selected areas of the clothing, textile, aircraft, airline, oil, and shipbuilding industries, with the possibility of wildcat walkouts by railroad workers. Yet, new contract settlements along conwith terms of existing multi-yea- r tracts plus the hike in the minimum will boost wage and expanded coverage labor costs. Corporate Profits and Dividends to Rise Business profits after taxes should manage a 10 percent increase in 1978. While this would not quite match 1977s gain, the final outcome could range a trifle higher if there were a real break on the tax front. year-to-ye- Corporate profits face tough going as a result of cost pressures and intense competition, but management will stress operating efficiencies and rapid price adjustments to offset escalating costs. With profits expected to trend higher, dividend payments will be more generous, even surpassing 1977s spate of hikes. Building and Construction One of the towers of economic strength in 1977 was private housing starts, which climbed more than 26 percent over 1976 to around the level. Permits for new residential building also held up well during the year, assuring another near-pea- k effort for 1978. Since home building may inch upward only a bit from 1977, it will help to maintain the economy rather than to impel it toward new heights. y There will be more units built than single homes. Mortgage credit should be mostly adequate in 1978. While commercial and industrial building showed some improvement over the past year, it was not impressive. And we multi-famil- 1 (Continued from page 1) teenager. Along with her sister and a niece, she travelled to the Boston area to study millinery techniques for ZCMI and stayed there for two years. Upon her return to Salt Lake City, she met Frank Stevens and married him at the same time that her sister married a military career man from Fort Douglas. Being widowed in less than six years meant that she had to return to making a living for her little family, returning to her family for awhile when the youngest baby was born. She was ready for adventure, and travelled by wagon and team from Wells-vill- e to Fort Duchesne with her brother John to homestead 120 acres bordering the Indian reservation' about 1910. She often remarks of the hardships they suffered during that experience. But millinery was her real calling, and her talents were increased as ZCMI sent her to New York to study styles and then again to the south eastern sthtes for the same purposes. Her two little boys stayed with relatives on the farm in Cache county during those study trips. She was happy to return to Brigham City in 1914 to make a home for her two sons while they attended school, working at the Blanche Hyde Millinery store on Brigham Main street. Her history of Brigham City is vivid, too, as she remembers the street car and telephone poles, the changes in the business names and ownership, the installation of the bird refuge sign in front of the millinery shop. She adds that she wiil never forget climbing the 25 steps in the Widerborg-Jone- s building (the stairway was located between Palmer Jewelry and the Jittery Knittery now housed in the building) over a period of 50 years when she lived upstairs. In turn, many of the ladies who purchased her millinery creations have their d own memories of the cheerful little lady who made ordering a hat a special occasion. Mrs. Stevens was an active part of the business community, being a charter member and serving as an officer of the Business and Professional Womens club. member of the Civic She was a Improvement club, and also active in the American Legion auxiliary following World War I. To what does she attribute her long life? To On her 100th birthday she replied, hard work, and staying out of hospitals and away from doctors as much as possible! And her son notes that theres a strong stubborn streak that didnt let her down in either good times or bad, along with a witty sense of humor that continues to show itself at 103. sharp-tongue- HER 103rd BIRTHDAY was a day of celebration for Mrs. Emma Stevens as she chatted with her son Frank Stevens and enjoyed a lovely poinsettia gift from her granddaughter. Local court denies writ (Continued from page 1) before Barnard made his application. Perry City Clerk Elmer Matthews was also called to testify. Perry City Attorney Omer Call asked the court to deny the motion since the council was using its discretionary powers in the matter was not arbitrary or capricious. Judge Christoffersen ruled that no evidence exists the city was violating a specific statute or abusing its discretionary powers. It is not for this court to decide whether water is available or not. The court can not substitute the courts judgement for theirs, he said. poems; Adrienne Richs Poems, selected and new, John Ashberrys Self portrait in a convex mirror and Lawrence Ferlinghettis Open eye, open heart. 1950-197- 4, ANNOUNCEMENTS: MOTHERS HABITS I have all my mothers habits i awake in the middle of night to smoke a cigarette i have a terrible fear of flying and i dontTike being alone in the dark sleep is a sport we all participate in its the scourge of youth and a necessity of old age though it only hastens the day when dissolution is inevitable grow tired like my mother doing without even one small word that says i care and like my mother i shall fade into my dreams no longer caring i either Nikki Giovanni is one of the most popular poets writing day. The poems in her new book, The women and the men, display in full measure the gifts that have made her so precious to her large following: her warmth, her conciseness, he passion, her wit, and her caring about the people, the things and the places she has observed and touched and captured. to- Works by other contemporary poets recently added to the library collection include three books of poems by Robinson the women at Point Jeffers Sur, Dear Judas, and other poems, and the double axe; The poetry and prose of E.E. Cummings; Lucien Stryks Selected Personal Income Wages Employment The new year will see new records for employment and personal income, but it will still not be easy to force the jobless rate much below the 7 percent mark. Though a further uptrend in business should imply more job openings, there will not be a proportionate expansion of employment because of managements keen awareness of soaring operating costs, higher employment-relate- d taxes, an increased minimum wage, and a greater need for skilled workers at a time when new and inexperienced job aspirants are flooding the work force. budget faces a massive deficit. Farm Prospects Improving The year 1977 was another bumper year for American agricultural output, but depressed farm prices put many farmers in serious financial straits. The recent in Soviet grain buying, the step-up- s governments directive for 1978 planting cutbacks, and the pressure of fai m groups for more substantial assistance should improve farm conditions somewhat. Another grain drain with a resultant runaway of farm prices does not seem likely. Carryover grain stocks are abundant, and it is heartening to note the improvement in soil moisture of late in many key growing regions which had been plagued by drought. Domestic Political-ForeigAffairs The emphasis on a national energy policy in 1977 was slated to be followed by a massive tax reform effort. But the Senates intransigeance on energy matters and the realities of the 1978 elections have forced a reshuffling of priorities, with stress in the coming year being laid on tax relief principally for the individual, and only nominal reform efforts elsewhere. n Yet, new peaks in employment, longer work weeks, and rising salaries and pay rates will help to boost earned incomes and this will be augmented by higher social security outlays and hikes in per- sonal investment income. Unless a solid federal personal income tax cut is enacted, however, discretionary income (take-hom- e pay) will advance but will fail to keep pace with the gain in gross personal income. Consumer and Government Spending Historically high employment and personal income plus the increasing likelihood of federal tax relief augur well for consumer spending, even though there will be countervailing influences from inflation and larger bills for fuel, energy, and other overhead expenses. Overall, retail trade could post an increase of 10 percent in 1978, but gains may range only in the 4 percent area. Federal, state, and municipal governments will boost their outlays in the new year, but much of the increase will be due to inflation. There will, however, be some real gains to lend support to the economy. The financial status of many states and municipalities has improved sufficiently to permit more spending, but the federal Federal spending priorities can also fall victim to election-yea- r expediencies, and the national health insurance and full employment programs face tough resistance for cost reasons. Stricter banking regulations, establishment of a separate department of education, return of the postal service to congressional authority, and an altered version of the Strategic Arms Limitation treaty could survive heated debate and reach enactment. With anti-wa- r sentiment still strong, we should be able to avoid military involvement in 1978. Diplomatic, trade, and monetary problems will be more difficult to cope with, however, and will undoubtedly sorely test this countrys foreign economic policy. Money Supplies The spurt in short-ter- n and the Feds monetary policy brought fears of another credit crunch. But it did not develop, nor is a pinch likely in 1978. in fact, Money supply is ample troublesomely large in view of inflationary but credit should tighten pressures somewhat during the year and the prime lending rate of commercial banks could, move up to 9 percent by year's end. 1977 Interest Rates interest rates in Long-terinterest rates, which have rates been far less volatile than short-terin recent years, should remain so in 1978, although the treasurys need to finance its ponderous deficit will inexorably nudge funds above the the cost of long-tercurrent level. m Stock and Bond Outlook Hit by a myriad of uncertainties, the stock market was mainly on the defensive in 1977. The net result was to keep the supply of attractively priced stocks in good volume, especially from the standpoint of the ratio. price-earnin- And with another year of healthy business expected plus continuing boosts in dividend payments, investor buying enthusiasm may be in greater evidence in the stock market in 1978. The plight of the dollar, however, and anxiety over inflation could cause the volatility of the past year to persist. A reasonable projection for the Dow Jones Industrial Average appears to be from 800 on the low side to 1100 for a top over the year ahead. At the present time, there are plentiful y supplies of medium-ancommon stocks and convertible securities available for sensible employment of investor capital, whether the objective be growth, income, or a reasonable combination of both. Conservative investors who seek safety and continuity of income will also be able to find a good many reliable vehicles in the bond market, where prospects of somewhat higher interest rates in 1978 should sustain this climate over the coming year as a whole. d good-qualit- Gallery gathers quilts for exhibit Emma Stevens marks 03rd year Citys look for no surge in 1978. Heavy construction should experience moderate gains owing to larger public spending budgets. 3 month as well as games, puzzles and cutous. Cricket, the Magazine for Children is a magazine for the grade school child. It is filled with literature from some of the best authors, old and new. The January issue contains very interesting background information on the ancient art of the Indian storyteller. There are also legends told by some Arizona Indian children about the Construction work in the Childrens Department of the library has made it necessary to close that area each day at 6:00 p.m We are sorry for the inconventricky coyote. ience and hope that we will be Other magazines in our able to extend the hours to 9:00 are Ranger Ricks Namonth once a within ture p.m. again magazine, National Geoor two. The upstairs will congraphic World, Highlights, the tinue to be open until 9:00 p.m. monthly book for children, and Monday through Thursday. We Ahoy, published by Atlantic will close as usual at 6:00 p.m.' Monthly Magazine. We urge you to come in and on Friday and Saturday. look through these and other Childrens Department monthly publications for your Did you know that the childrens children as they are a rich source of literature and music. department of the library subscribes to several excellent All issues of these magazines magazines for children? Hump-t- y may be checked out except the current months issue. Dumpty is one of these especially for little children. It contains stories for beginning reaBerth Control? ders, read aloud stories, poems, nature stories and also a section Have you heard about the of science fun. You will find a Pullman porter who just finished new song with music each reading a book on berth control? Quilts are a traditional attra- ction each January at the Brigham City Museum Gallery, and 1978 will be no exception. This year the public will be given the opportunity to show off the quilts that they have made, inherited, purchased, or have special meaning to them. Frederick M. Huchel, directnotes or of the Museum-Gallerthat each year some quilts have had to be refused display space because individuals and churches and organizations have so with many they want to share .. 'others.' In the past, one of the four local Relief Society stakes has been in charge of supplying quilts and pulling on a quilting See for the January display and reception. There will be a slight change this year as the Young Adults Relief Society from the east side wards of the Brigham city LDS stake provide the quilting bee demonstration. However, these young ladies dont have the collection of quilts that older women often have and there will be more room for those loaned by individuals. In addition, Huchel reports that there will be a tribute to the late Glenn Korth who began quilting to provide company for his invalid mother and went on g to design and make quilts after his own retirement. His family will loan some of designs for the quilt show this year. Especially sought are antique quilts, those with signed blocks and patterns, unusual quilts in either style or material, and those with special family meaning sewn into their design. Since arrangements must be made for hanging the quilts in advance of thp Jan. 7 open house reception, those who would like to loan quilts are asked to call the Museum-Galler- y ner identification, according to Huchel. Quilts which have a special story or unusual history should be accompanied by a 3 x 5 card giving a brief summary of the story so that those viewing the l.uilt maY understand its significance. that . prize-winnin- at 723-676- 9 Thursday in January as a new patchwork creation is at Museum-Galler- y with coverlet on bed by Terry Andrus, homemaking leader for east compared antique side Young Adults Relief Society of the Brigham City stake, and her mother Sharon Andrus, Seventeenth ward Relief Society president, in preparation for exhibit. QUILTS WILL BE FEATURED Winter Clearance through Saturday to offer quilts. 'The facility is open from 11 a.m. to 7 p.m. Quilts may be brought to on Saturthe Museum-Galler- y day, Monday and up until Tuesday noon. They should not just be left but should be turned in and properly marked with ow- - Former BE home chief takes post AL Drastic Reductions on Winter Merchandise Prcees Duane D. Walker, former administrator at Pioneer Memorial Nursing home in Brigham City, has been named associate director and director of nursing service at Stanford University Medical center in California. Walker, 39, will assume his new duties Jan, 9. Since 1975 he has served as assistant administrator and rector of nursing at the University of Utah Medical center in Salt Lake City. SDosfcsGll! Boys Pants & Shirts Girls Dresses Pant Sets & & Skirts Separates SnoSuits Pajamas & Gowns Girls Blouses & Shirts Girls Overalls & Jumpsuits Coats & Misc. Items di- We are delighted to be able to fill such a vital position with someone with qualifications and experience as impressive as Paul B. Hofmann, Walkers, hospital and clinics director, stated. SALE STARTS THURSDAY teen 14 So. Main No Refunds, Exchanges ALL SALES FINAL |