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Show i jfrr M10t'iriir'iy wawm Vt nnranMiiB and Dmwi llu Sired l Unit Train Hauls Coal Steadily To Geneva Works Gi ancle Sunny Mile brunch lor i milieu mu By Robert H. Woody Tribune Business Editor with the main line to Geneva. Total distant o: 117 miles. anil Geneva Coal Irom Someiset mines i.s unloaded at East Wellington, Cat lion County, and uni llumigh U.S Steels washing and blending plant, then lelo. tied into tail iais. But tins is s scauely an inlci uiptimu Em the lm leave their i am of law tool and pn k up a tiuinload ol newly washed coal for them urn to the steel plant. The system demimstiales ns mastei-- f ul equihbi linn at llelpet. lleie, the mam hue tow aid Geneva siaits a i limb of 1,631 feet to Soldier Summit. Here's a train that jnt won't stop! T b a t's t li e performam e system that has been worked out for "unit tram" dohv civ ol coal fimn mines in Colorado and L'tah to U.S. Steel Corp. Geneva Woiks. S o precisely timed are use and movement of locomotives and eais that when the system is in final tune total Iheie an Efforts to Halt Inflation Will Affect Mart Values "A new policy will WASHINGTON have to woik against, not with, the pre-- v ailing psychology, course, the possibility that a slowing down of the economy might so punUuie' inflated, expectations as to cause a dot line. no . . . We see reason for this to happen. . . . Still we mast piepare the lo .. support mgston economy. Thus spoke President Nixons Council Paul W. Advisers of Economic McCracken, chairman, and llendrik S. before llouthakker and Herbert Stein the Joint Economic Committee. "It is the they emgovernment's tesponsibility. to provide good money phasized, money whose value is predictable. That means halting not only the vise In prices but also people's expectations about rising prices. TIip second is mote diflicult than the first. Belief persists too of veil after the fact. I-- h Trend Never Broken Secretary of the Treasury David M. Kennedy seconded tiie sentiment. The Nixon Administration would not repeat 1967. As inflationary pressures moderated. unemployment inct eased from 3.5 percent of the labor force in November, 1966. to 4 percent in June 1967. Does the determination to curb inlla-tiochange the investment dim ite? Will common stocks, prosperity's darlings, become less alluring? Die council enumeiated these choi- n ces; 1. To cut back economic expansion .severely. stop inflation at once, and Wp it at zeio. This would cause a me-Mo- n and substantial unemployment. 2. To continue policies of recent years, maintain present levels of high employment, and prolong and perhaps add to inflationary piessures. 3. To gradually and persistently reduce the rate of idlation, thereby genei-atin- g the expectation of diminishing rates of inflation in the future. The third course has been chosen. economic controllers have a The Gtand Design. The Federal Reserve Board will keep a steady rein on credit on the amount of money you. I. corporations and banks can use. At the same will time, the Nixon Administration strive for a budget surplus by spending sparingly where possible. Cant Avoid Risk The policy entails the risk of sion. It s a risk that can't be avoided it the dollar is to beconip a stoic of value once again. Inflation psychology ramps throughout the world. It is monitored in London, where gold recently pushed to a new above $42 an ounce. This is cash high on commentary on all paper, money the dollar, franc, mark, pound, guilder, lira and so on. Gold is a luxurious speculation. It must be stored. It has to be insured. It earns no interest. Therefoie, money used to buy gold represents a minus investment. Inference; Hoarders, speculators and industrial users are betting that the price will rise despite repeated promises that the $.15 manetaiy price is here lor all time. Rely on Dollar The dollar is the currency people tliioughout the world rely on. A crisis in Euroe brings a flight to the dollar from marks, or lit a or Danes. This makes it imixuative fot the Nixon Administration to cheek the inflationary spiral. as promised and If that occurs planned rapid expansion and rising prices won't bail out managements from mistakes. Corpoiate profits may fall. And the dollar, once again, will become a store of value. In which case, some investors may decide to give bonds another try. disinflationary environment will he uncongenial to a roaring bull market in A common stocks. 364-353- Loads of coal are dumped at the Wellington plant for washing and By Thomas E. Mullaney New York Times Writer NEW YORK Some of the fears that investors have bpen harboring were realized last week, rattling Wall Street rather thoroughly and depressing the financial markets significantly. Washington provided a full quota of disturbing comment ary about inflac o ntinued tion, an extended anti-trusurtax, for flip troubles Mr. Mullaney c o n g omeraies, efforts to curb holding companies and possible credit - tightening by the Fedeial Reserve In addition to the fundamental considerations, there were technical teasons as well for the stock market's decline, its worst in two or more years, of all the factors, however, the one most often eitpd was spoiled T While an extension of the surtax 1 one-ban- k unsettling -- H 1,4'20 disclosuie at the percent tax cred- KF.ITHOLSTERY Office & mUI4-- Dwn't we 1t prwvw tkwt 1 yww quality anew ttmply la aeataiaa. Owaranfa 4. UT, RINT, UA3I ASSOCIATED ELECTRONIC ENGS. 7 1064 I. 3'0 la. Salt lak City tltak i46? . mw !; Wood Desk Kclinishing H.I.. O pi LAKE A ocAll 500,000 Shares MAJOR OIL CORPORATION Common Stock or 3(:t.295 I. 0 Par Value ($1.00) I. II. program. LINCOLN ir MERCURY low as 180.00 per month on a 1969 Cougar with full maintenance program. Leasing Co. 359 8661 SLC Any Make Car" ol the lew who is now in all tlnee. ready to oiler the light man an executive sales opportunity Selling tmaneial planning to indiv itluals and busS3 billion inesses. Representing a With a salary tiamiug up to SHOO a enmpaiiy. month plus oppoitunities tor additional And piospects high in the tange. II this sounds like youi cup ol tea, call me at this paper. I'd like cn write Ko Xml I'm luoad-speetrn- hrst-rat- e 322-447- Suite 70 7 Judge Building Eight East Broadway Salt lake City, Utah 81 15 Gentlemen Please moil a copy of the MAJOR OH CORPORATION prospectus ti om v to NAME ADDRESS e UTAH A-1- 4 to he.u Telephone (801) 521-672- e. 633 So. Main SI. least Bel Aire Securities Were one live-ligtn- We Cop.ev of the prospectus may be ootamed by teleBel Aire Securities, the sole underwriter, or by in the coupon below phoning mailing Investment eounelinji? Or did you eer widi ou eould sell all three? with full maintenance JfcQMPANY 4661661 i.i ( Mutual funds? factory guarantee LAKE CITY, UTAH .1.1. 1969 timid- he good al celling life iiiMirance? Very Good Condition 2300 SO. MAIN, SALT DATE FEB. 13, Et'r think )oiul . WESTERN ROAD MACHINERY! This is neither on offer to sell nor a solicitation of on offer to buy th-- se securities. The offer is rnide only by the prospectus. price $3.00 per share As M opei-atlo- 3 17 I. list 2ml Smith ll. JEEP as Comsat reported that the 10 percent federal income tax sut charge reduced earnings for " 1968 by $514,000. or the equivalent of cents a shaie. Increasing commercial use of the global communications system and the fact that four satellites were available tliioughout 1968 boosted Comsats revenues to $30,495,000 for the year. This was 812 031,000 more than .the $18,464,000 for n 1967. when only om. satellite was in for the full year. The other three began commercial operation at intervals during the year. Reasonable Kates :U3-772- 7 COUGAR 1963 Gallon Tandem Model T500 Grade O Matte MO HP, Cummins C 160 Cl diesel eng , power shift transmission, full hyd controls, leoning front wheels, 14 0024 12 ply tires, 12' blade w power tideshiD ucmfier. capital. NEW ISSUE furniture jpyal Si ft d REFIMMUNG 44 . in 1967. The bulk of Comsat's income, however. continued to come from interest earnings on the corporation's large temporal v investments of its unued initial the Carbon County Railroad onto the Rio )(." k . . rile Fall curred Furniture n.LF.iMioM: AVSWFHING lngc One C. CommunicaWASHINGTON (AP) tions Satellite Corp. reported tiiat its 1968 net income totaled $6,841 000 or 68 cents a shaie. a substantial gain from 1967's S4. 638.000 or 46 cents a shale. resulted Most of the improvement fiom the fact that Comat showed a net operating income of $988,000, by contrast with a net operating loss of $642,000 in- Haul Coal onto Branch 1 19 Satellite Venture Increases Profit Coal produced at the Geneva Mine in the Book Cliffs of Utah will be hauled by SIPECDAILS LEASING MOTOR GRADER 7 Glen-woo- it for investment in business equipment might be in jeopardy. McCracken told the eongtessional committee that a tight money policy will probably be needed throughout 1969 to curb inflation and that he favored a "rein the money duced rate of expansion supply. (Copyright) For a model, open pit operation. Reports to Mine Manager. Will direct production with full responsibility for effective utiliza-to- n of all equipment. Engineering or Mining degree required. Work history should show ability to supervise all aspects of open pit mining operations. Reply with resume or letter to- Box No A 40, care this newspaper. Bev- XTT v SPf Another hearings was that the .Section Each is starting point for one of three cycles. "These are so coordinated that locomotives and cats ate moving almost constantly. Here's how it woi ks : Caibondule coal, washed and giaded at the mine, will go via Rio Grande's Aspen Blanch to the main line at Springs and 'here to Grand Junction. In Grand Junction the cars aie assembled into unit trains for the direct run to Geneva Works. Total distance is 360 miles. The Somerset coal will go first on D&RGWs North Folk branch to Delta, Colo., then by its Montrose branch to Grand Junction for the main line haul to Gene 'a. Total distance: 335 miles. nnd-vea- Superintendent oil or mining company without major liabilities. Tax loss not essential. Write to Finance ct- Sunday, February 23, Move Almost Constantly r was expected, it was beyond only last week that the business and investing world had clear indication from top administration sources that it vas not unlikely. Pessimism was expressed by both Treasury Secretary David M. Kennedy and the President's chief economic adviser, Paul McCraeken, before Congress Joint Economic Committee. Mine Wish to acquire the controlling interest in a publicly-hel- R. Singer, P.0. Box 51 Gl, erly Hills, Calif. S0210. blending, then coal is reloaded swiftly for haul to Geneva Works. Fears Become Reality, Depress Nations Markets Significantly 277-26- 49 CORPORATION Mines-JIark- added Colorado Gov. John A. Love. The operation is now in the first of tin ee development phases planned lor completion within the year. And it's already stalled to prove itself. In computer age terms, the oxi atiun is called a total logistics sylom." On different days and at piectsely scheduled minutes, trains will leave thieo separate points on the Rio Grande loaded with newly mined coal for Geneva Works. These are U.S. Steel's Geneva mine in Caibon County: its Somerset mine on the North Folk of the Gunnison River in Colorado. and the Coal & Coke Co. mine near Carbondale, Colo. Week in Finance 5 SHELL in kf Sfibnnr And "a convincing demonstration of progress by cooperative action of people in both states who understand the common economic interest they shaie," There is value in your Call us be building fore the wreckers WANTED: PUBLIC Jsalt Convincing Demonstration ECONOMY SALVAGE Quality Temporary Help Indvitrial Office 1063 South State it so happens that jest as the climb ts stall, iv o locomotive units airive on Continued on Page ( 3 to ceie-mome- Business Outlook By J. A. Livingston Pulitzer Prize Business Writer be idle moment lor and 380 cais will be doing the woik that formally required 1.000 cars. Start of tiie system was announced last week by the Denver & Rio Gramle Western Railroad, it will he formally s dedicated March 5 by D&RGW in at Geneva Woiks. How important to Utah? The operation is unique in butli the taihoad and steel i .dustnes, assures lower trnnsortation costs and greater needl'd to keep supply dependability l'tah steel vigorously competitive in the Western market, said G. B. Avdolott, president of the Rio Grande. An economic boost of incalculable benefit to Utah and the West, commented Gov. Calvin L. Rampton, a strong supporter of and catalyst in development of the new deliveiy system. . of F.S. Steel Corp. near Proo. The unit trains will make best use of equipment and manpower. ton plant where it will be washed ami hleiuled. From there it will go to the Genea Works rrive on Eastward Return not And some six locomotives viT. 29tryt 4. i4 Coal from I'.S. Steel's Geneva mine heads for the main line and unloading at Welling- - will onui-live- ou. 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