Show OGDEN STAND OGDEN i ARD-EXAHINE- Il UTAH SUNDAY MORNING FEB ' 17 Meal v BUS INESS PAGE j TO TAKING STOCK I f ! r ' 1 1 H FRONT of new Mountain States Telephone & Telegraph Co exchange in North Ogden is examined by Ralph Wadley ugaen aisinci manager ew Facility Near Finish y $800-00- week that otherwise was quite lacking in business development Steel output climbed steeply pushing the total to the highest level since the week ended last April 21 The mills turned out 1975000 tons a gain of 54 per cent over the 1874000 tons the previous week The increase raised the indus- to an estitry's operating rate of capacity cent mated 636 per federal buijding will be erected on an The 81000 square foot site north of 25th between Kiesel and Grant "It will remove some of our more serious downtown blight" Mr Duvall stated "And it should pro- NORTH OGDEN — A new telephone exchange is schedvide an incentive for surrounding property to clean up" He remarked however that while this "is a big uled to go into operation here 16 ctpn it is nnlv a first sten It is eoine to take a lot of June It will serve 2300 telephone hard work to get the whole job done users in North Ogden Pleasant from 603 per cent die week The General Services Adminis tration announced last week bids Chicago today through Wednes ' will be opened May 9 for con- day with Mr Tanner will discuss the struction of the building market The meet work expected to start in June "teen-man- " ing is expected to attract 5000 wear retailers from throughout the nation Mr Tanner is a member of the Ogden Chamber of Commerce and president of the Ogden Board of Education mens Vehicle Sales Here View Farr West Warren ORDERS Many mills reported the rate of incoming orders is the best since last March Some of these orders are coming from users who want to build up inventories as a hedge against a possible strike but a MORE j 0 good percentage represents metal ments and Ogden native Bart F Bingham has been transferred from Salt Lake City to Detroit Mich by SEN WALLACE BENNETT the Army Procurement Command Efforts Bore Fruit He has been chief of operations Construction of the building cli- and contracts for the Army at maxes a five-yecampaign lead Sperry Utah Co and will beWallace come procurement analyst with senator senior Utah's by F Bennett the Army Mobility Command at The idea for a new federal Detroit building in Ogden originated with Postmaster Ed Vendell during a luncheon with this reporter in Names New Manager William C Ritchey has been early December 1956 Mr Vendell reported the local named manager of Block's local post office still housed in prewar space despite a tremendous increase in mail volume was bursting at the seams The only place it could expand was into other floors of the building al ready overcrowded by other fedar eral agencies 19 wmmi HlMllt' il lififi -- j - one-minion- TIEING UP few loose ends before exchange goes into operation are L B Kofoed and C B Kofoed (left to right) MONEY MARKET NEW YORK (UPD— There behavior of reserve factors over aren't many people who ever have the same calendar period during the change to order the purchase the past five years Yet they are11or sale of hundreds of millions of not a precise guide because dollars in government securities nancial flows in each year are (lif erent and it is the current mar in any one day One of the few who do is busy ket itself which must be watched SHAPE OF MARKET every business day making a de kind in that two officers of the se transactions 9:15 At on cision curities department meet in a of money room with- - one or two conference He is the manager of the Fed of a government eral Reserve System open market representatives securities dealer firm They con account He operates out of the fer on a rotating schedule every Federal Reserve Bank of New business day witn reserve Dams York is a senior officer of the officers who conduct open market bank and is the vice president operations They tell what they have found: in charge of the securities depart Whether the money market is ment of the New York bank at ight or easy the same time he is manager of Shortly after 10 a m the fiscal assistant secretary of the Treas the open market account ury calls on a direct line to dis CREDIT CONTROL cuss the outlook for the Treasury's cash balance at the reserve banks Open market' operations of the because an effort is made to keep Federal Reserve System are used stable working balance fairly in an attempt to influence bank at the reserve banks reserve positions and the amount Meanwhile other reports are of bank credit that is available being assembled on the move ments in the government securithrough open market purchases ties market All these must be and sales of U S government studied 43-Ye- ar About 11 a m comes another hook telephone call a three-wa- y up to permit the account man hs ar in o Reduce ager to talk the situation over with a member of the board of governors in Washington or his representative and one of the reserve bank presidents who is serving on the federal open market committee As soon as his call is completed and it takes perhaps a half hour the manager has begun to indi cate a tentative course of action A summary of the call meanwhile is prepared by a member of the board's staff It is sent to each member of the board of gover nors Within an hour or two it also will reach each reserve bank president By 11:45 a m or thereabouts the manager has made his deci sion to buy or sell Dealers go to work checking prices Within 30 minutes of the time the decision is made calls are completed The manager has selected and bough or sold the securities upon which he has determined for the day While the pattern of action may be the same the problem to be faced in the next 24 hours or week may be entirely different gree from Harvard A PETERSON To Address Club DAI Graduate School of Business administration He has been associated with Douglas Aircraft Co and the Economic Cooperative Him GROUP ELECTS OGDEN MAN AS OFFICER Affected along with bankers and other private lenders would be future home mortgage seekers ur ban or rural The original and still central idea in the federal government's making the loans or insuring them against default is that government-backed loans can be made to many individuals or projects which would find it bard or impossible to get private financing at the comparatively at easy terms Uncle Sam assures - D Keith Hunt of Ogden has been elected vice president of the Utah Chamber of Commerce Executives Association Mr Hunt is executive vice president of the Ogden Chamber of Commerce one of 44 chambers and trade groups represented by the association Other new officers are Stanford P Darger of Salt Lake City president and Leland Hansen of Tremonton REVERSE TREND Government lending has expanded so much over the years that now a presidential committee is advising the trend might well be reversed It holds that private lending should carry more of the load It suggests the federal gov ernment step in only where private lenders won't or where they can't without government insur- GEORGE E RUSH New Appointment ance against defaults The administration has urged that in the case of rural housing Congress let the Farmers Home Administration change to insuring rather than making the necessary loans This has aroused some opposition in Congress At present Congress nas a ceil ing on interest charges Lenders v have gotten around this through discounting the loans which in effect raises their costs Previously the Treasury has urged in vain that ceiling on the interest it could pay on government securities be scrapped It argued the ceiling often can keep money mar it out of long-terkets And too much involvement markets can feed with short-terinflation monetary The presidential committee would continue the government guaranteeing of FHA" and VA home loans but let the interest rates conform more to general "- ' ' - '- - ? f ' ? " ' ' ' V '4 I LJi JOHN P ENDICOTT least X- Management Sptaktr N $225 y n ) m m In the early 1930's Mr Jensen began working on agricultural re search and beet seed develop ment He has been prominent in this phase of the sugar beet industry throughout the United States Dr Rusdh is a native of Vancouver Canada He received nis bachelor's degree from the Uni versity of British Columbia and a master's degree in 1945 His doctorate in agronomy and gene tics was from the University of Wisconsin in 1950 He joined Amalgamated in 1950 as a plant breeder in Ogden In 1954 he went to Nyssa to direct the company plant breeding pro' 'S gram - - was associ Mr Endicott is director of man- nsrement consulting services for Arthur Young and Co of Los Angeles He has a master's de- it backs for others mmmmmmmmMz 'JTr' He previously 3 ated with Douglas Aircraft Co and the American Institute of federal NEW YORK (AP)-T- he cut to like would government business and down on its lending emphasize its guaranteeing and insuring business It also is interested in doing awav with legal ceilings on in both on its own bor terestj-ate- s some of the loans one and rowing Kg i ico FHALoans Sugar Official Retires Successor Announced : 7 six-tent- He Buys Sells US Securities Wants US Dollars of Millions the Daily By -- multi-purpos- legally Steel production for January to taled 8386000 tons up about 300 000 tons from December The No 1 producer U- - S Steel Corp said its Edgar Thomson works in Braddock Pa will be placed in readiness for possible resumption of operations in Marcn or early April Except for the 'oundry the works have been idle since last June Two nationally prominent man-indus- The booming automobile Il passen agement consultants will address try built its of the year setting a pace the Ogden chapter of the Nager car about seven per cent ahead of a tional Association of Accountants year ago Wednesday OFF A LITTLE They are Dan A Peterson and Production eased off a little John P Endicott both of Los Anduring the week to an estimated geles who-- will discuss the need I52000 from 153981 the previous for management consulting serv week but was far ahead of the ices by business firms year ago total ot laouoo jaies The meeting will begin at 6 continued brisk in the first 10 pm at Kotney s witn a dinner at days of February rising 12 per 6:45 cent above a year earlier VARIED EXPERIENCE Secretary of Commerce Luther Mr Peterson is manager of en H Hodges told a news conference the economy continues to advance gineering psycnoiogy ot lnioKoi Corp's Humetrics Divislowly but added that "no vigor Chemical sion He has a master's degree from the University of New Mex- Ta 4 ' require earnings fell to $9744t He predicted some increase in weekly from $9842 in December the output of goods and services A commmittee his quarter from the $56? billion headed presidential of the Treasby Secretary annual rate of the 1962 fourth Douglas Dillon recommended ury " quarter fixed abandonment of Robert Wallace assistant secre maximum interest rates on govertary of tne Treasury said u tne nment-backed home loans Curproposed tax cut doesn't produce rently the maximum rate on Fed the expected boost in economic eral Housing Administration mort activity the economy would be in gages — including an insurance serious danger But ne added premium— is 5 per cent and on We still will be in better shape Veterans Administration GI mort han if taxes had not been cut at gages 5Y4 per" cent all" The week's sales on the New SALES DIP York Stock Exchange rose to 22- There were these statistical 608490 shares from 20210540 the week before Bond sales on the straws in the wind: Retail sales dipped in January stock exchange totaled $33591200 rom December s record level —par value— for the latest week of one up from $28630000 a week earlier The decline of was per cent disappointing to Briefly around the business hose who had looked for a gain scene: Sales of television sets in in the month Cold snowy weath- - 1962 totaled 63 million a six-ye-er in many areas ana newspaper high Nearly 100 major labor strikes in New York City and contracts a f f e c t i n g 12 million Cleveland were blamed The Jan- - workers expire this year 1 Bennett's administrative assistant Ralph Meacham called e the report to the attention of to GSA the senator who asked make an official survey A GSA survey completed in September 1957 substantiated the need for a new federal building here which Sen Bennett then requested Two years later PresiWILLIAM C RITCHEY securities dent Eisenhower signed a bill auto Moves Ogden construction The system's broad objectives thorizing its bill same appropriated men's and boys' wear store at are to cope with the stresses put The $870000 to design the structure 2444 Washington onto the money machinery by and purchase a site for it He succeeds J Russell Hoff changes in the way money flows man who resigned to accept a through business and commerce Educator to Speak position with the Browning Arms and top remote a- - healthy domesCo tic economy Brigham Young University with been has Mr This calls for daily activity will Wilkinson Ritchey L President Ernest 1949 for the past based on a tremendous store of since Block's free Ihe system enterprise discuss five vears as merchandiser of information which must be sifted in Ogden Feb 26 He will address a meeting In the industrial clothing and uniforms and assayed for its true signifi 'S stores Ogden LDS Tabernacle sponsored forHeall Block active in the Elks cance has been of ComOVERALL POLICY by the Ogden ChamberAdult was a cantain in the Army ana Edumerce Brigham Young First of all the manager must Mon cation Center and the Small Busi- attended the University of active keep in mind the current instruc tana He also has been ness Administration tions from the federal open mar work A native of Ogden Dr Wilkin- in Chamber of Commerce ket committee composed of seven Lions Club snn attended Weber College and and the his 1922-2former over 3 posi members of the board of gover Taking taught at Weber in tion will be Gordon Burt who nors and five of the 12 reserve has been manager of the boys' bank presidents It usually meets Invited to Speak and shoe departments in the lo- every three weeks in Washington Cloth' Tanner of Nate Tanner cal store His office will be in to discuss what would be the over of one the all monetary policy and how to will be Co speak Pocatello lng ers at the 45th annual conven Raloh Boear has been trans apply it tion of the National Association- ferred from Block's Pocatello The business day begins shortly VERNAL JENSEN f Retail Clothiers and Furnish- store to replace Mr Burt in Og- after 9 a m in the trading room Career The manager has at hand projecden tions drawn up from the precedThe "convention is being held in ing day of what is expected of " Orders More Cars v" ' "" o vv the things that might affect rePacific Fruit Express Co plans serves over the next three weeks to double — from 500 to 1000 — He will get more for the current e day about 10:45 a m the' number of new The projections are based on the cars it rjKcbnical refrigerator will acquire this year Vernal Jensen of 2879 Virginia This will bring PFE's fleet of has retired as director of Way to 3724 mechanical cars reports Marketing Seminar agricultural research for AmalL D Schley vice president and CoT after 43 years Top personnel of Northern Utah gamated Sugar ' general manager PFE is jointfirm the with ly owned by Southern Pacific and commercial fertilizer companies He will be succeeded ' by Dr Union" Pacific railroads have been invited to join officials of U S Steel's Coal Chemi- George E Rush (who moves to mm cal Division at a special market- Ogden from the firm's Nyssa Workers Earn More y ing seminar in Brigham City OreV plants mmm were anThe changes personnel General Motors reports wages Monday nouncedSaturday by Harry A employes in About 100 fertilizer businessmen paid its hourly-ra-te vice presi1962 were the highest in history from Northern Utah are expected Elcock Amalgamated i and dent general agriculturist GM employes in the to attend the dinner meeting at Hourly-pai- d is a native of ProvMr Maddox Ranch Jensen the in 7 an weekly average US received pjn westidence a Adams graduate of Utah State wage of $13619 an increase of House said Fof E coal U University and a veteran of World GM said the ern manager $1497 over 1961 WVar I He came to Ogden in sales chemicals average $326 an hour paid its 1925 chemist at the former Ogas U S will be attendance in Also substanworkers last year was on Wilson Lane He den soil and Busales Steel factory marketing tially higher than the US a resident of Ogden reau of Labor Statistics reports experts from Salt Lake Cuy and has been IIATG TANN2H " since" Pittsburg Pa for manufacturing workers ten War Trends Sen 9 m toll-fre- 1956 AiA AAA AAA uary total was $zuowuww on $123 million from December Output of factories mines ana utilities remained at about December's level the Federal Re serve Board reported The board s index stood at 119 per cent of the 1957-5average Industrial output in both De cember and January was held down by strikes and bad weather Accountants Will Hear Management Experts The General Services Administration will sell a number of vedialing privileges to Ogden hicles Feb 27 to 10 am The viUe and Clearfield teleHunts vehicles may be inspected at the at motor GSA interagency phones pool "A generator is also being in183 W 30th Bids will be accepted at the stalled in the exchange as a secIn- ondary source of power in case of pool until 1 pm Feb 26 cluded are sedans station wag- emergency" Mr Wadley reported ons pickups stake panel and dump trucks and jeeps Transferred to Midwest immediate needed for Plain City y Equipment is being installed in the 5425 square foot building to serve 4000 telephones said Ralph Wadley manager of the Mountain States Telephone and Telegraph Co's Ogden district NEW PREFIX Mr Wadley said the prefix of all numbers in the North Ogden-Plai- n City area will be changed to 782 between June 16 and Aug 24 Telephones "with the new prefix e will continue to have direct INFLUENCING be- fore : Similar reports of overcrowding had been heard from other local federal agencies A survey showed most local federal agencies operating in cramped substandard or leased quarters throughout the city This was reported in this column on Dec v b is Norman Anda promi- 4M? iC -- Uroan Improvement committee This committee was formed recently by a group of local industrial business and government leaders to stimulate "a rebirth of the economic growth of the six-stor- W NEW YORK (AP)— The pickup in steel industry operations added luster to the economic picture last week SHORTER WEEK steel situation The Tahor Department reported The improvement in the long-draweek declined in stems largely from demand for the metal by the zoom- - tne factoryforwork second straight the January imr aiitomobile1 industry but other users also are in month dipping 04 hour to 401 hours But it was above the 397 creasing their orders hours in January 1962 Average This was a bright spot in a ous uplift" is in sight of the new federal building to give consider able impetus to the downtown urban renewal program scheduled to get under way soon 'This attacks the very heart of the downtown blight area" said Ralph C Duvall chairman of the Ogden an Bimsi mess S©-S- © n ByJackLefler Ogden area business and civic leaders expect Co-chairm- t u AP Business Nw$ Writtr By Cliff Thompson downtown area" nent downtown retailer n n n ii Auto Production Eases Off Factory Output Unchanged - IJtoini 'Pro grain t-- nm m mm imw ns I! - MS?? S conditions mmittee's suggestions The will be welcomed by those who would like to see the federal gov ernment withdraw from some of its manv involvements It will run up against a lot of objectors who hold that only tne government can be relied upon in many areas of social welfare I S175 v vv vi 1 I urf : Some Grain Damage BOISE (AP) — Below normal temperatures and less than Jhe usual amount of snow cover re sulted in some damage to winter grain the US Department of Agriculture sdd in its monthly crop ' summary 2429 Washington Blvd Phon© EX 4-63- 51 A |