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Show Git Views By ROBERT M. KALB AP Business Writer - NEW YORK (AP) Why is the stock market going up? The stock market set a new r high level on the two-yea- averages Friday to 952.9 points. Thursday, trading reached 1.11 million shares the sordid busiest day in big board Dow-.lone- s hv climbing history. Now, some brokers are even talking of the Dow leaching 1,000 this year. Brokers say that for one Hung, many anticipated fears have no been realized. For another, business in an ever has just expanding economy been too good to be ignored. Investors seem to see only better things ahead. Back about last August the ftar of the bears was in the ascendancy. People were talking about the income tax surcharge throwing a nose hold on business, tighter credit, International economic imba lance, and a host of horrid thoughts for the investor. In Wah Street parlance, heais are pessimists who believe stock - market volume wiil shrivel and sink away and that prires will collapse and go lower. Bulls are optimists who bewill lieve trading volume expand arid swell and pi ices will go higher and better. Bath bulls and bears consider themselves sharp tiaders who know where the market is headed, and no emotion about it. By raid - September the star of the bulls arose to challenge bearish concepts. The impact of the surcharge might show up later, but it certaintly was not hurting business at the moment. Official spokesmen said prospects of any international money crisis appeared dim. Manufacturers were raising prices and inflationary implications were sprouting all over. Banks eased their prime rates to lend more money. Piash Stock A rash of merger fever fell upon the conglomerates. A hotel chain sought a cigarette maker. Diversified groups wooed a banana shipper. Insurance companies and banks fought to own each other, A political was election coming up but both candidates Richard M. Nixon and Hubert H. iiiimphiey were committed to driving the a fact economy onward that scarcely could be discouraging to investors. The bears who had pulled out in August had a lot of cash money on hand going Little by little they eased it back Into the market and became less bearish than bullish. The big mutual funds with huge reserves on the sidelines began buying back into the action. As more ami more money entered the market, it became more bullish than bearish. All of which tended to confuse seasoned Wall Street observers, who thought the mar- - rkeic CONFIDENCE IN FUTURE The major maiket indicators by which Wall Street SEEN KEY TO MARKET TONE takes its By LOU SCHNEIDER NEW YORK ture. The bank investment managers say the consumer flight from the dollar, via he purchase of corporate fincommon stocks and-o- r ished products, is because But bank investment man- dead That's say, the bond maiket confirms that inflation is alive; that the widely promised decline in economic activity has not jet materialized; and that the Federal Reserve is still increasing the flow of money. in (NANA) Financial analysis say 'The most plausible explanation lor the stock market's strong tone is that investors are looking confidently into the fu- agers continued What we are is an investor flight from the dollar. Note the steady rise in prices on mand consumer goods. The sluggish price action wrong. income deflation. That means continued decline in the buying value of dollar income. of the aterials cost-pus- h ket at least would stand still for a moment for what are called technical corrections. Instead, prices continued to rise and brought more money in with them. Big bloocs crossed the tape as Institutions and big fund buyers and sellers rearranged their portfolios for the Sept. 30 reporting date to shareholders on the quarter's progress. With Mens Hair Pieces y For as little as $329, a man ran gt a complete outfit of hair toupee, sideburns, moustache, beard and chest w ig all made in Utah. Dave and Brent Bonham, owners of LifeLike, Inc., 1227 Wilmington Ave., say their products are tor the man who doesnt have everything. In business for the past three years, the Bonhams are busy keeping 30 employes making the various hirsute items at their Sugar House factory. They expect soon to more than triple their workers as they move into a mass production program based on standard sizes and colors. A'man will be able to walk Into a salon and buy a hair piece like he buys a pair of shoes, Dave predicted as he ran his fingers through a headless scalp of brown hair he was holding. The price for the production line hair piece will be considaround $150. erably less The present cost of a LifeLike custom made hair piece (the avoid the terms, Bonhams w ig and toupee) is $289. They have dealers throughout the country and are negotiating to license foreign dealers. Seventy-fivper cent of the dealers who see our product want to carry it, Brent said.. I believe our hair piece Is the finest, Dave added. He listed its advantages: It has a thin, flexible silicone base from which the hair emerges just as it does from the natural scalp; the piece can be shampooed, worn in the swimming pool or in strenuous sports activities; it is made with European hair, the piece oiled, can be conditioned, sprayed, curled and combed like the real thing. We have two patents that have been granted, one on the hair piece itself and one on the manufacturing process, . e Dave said. We have applied for a moustache patent. He noted that the silicone base will not absorb dye so that the hair can be with the firms special boiling process without sacrificing the natural flesh color of the scalp. The boiled-ir- . dye lasts much longer, Moustaches, sideburns and beards are like cufflinks. You put them on for special occasions then take them off, Dave explained. Moustaches and sideburns cost $8 to $14, while beards and chest nieces d $12 to 520 each. A lot of kids buy cost mous- taches to make them look older. Women buy them for their husbands and men buy them to see how they look. a Theyre strictly for kicks novelty. The hair piece bit s what is coming on strong, Brent said. The Bonhams see the mens hair piece becoming as popular as womens wigs almost in five years. They demonstrate their faith in their product by wearing it. Dave even wears his to bed. Brent doesnt really need a hair piece although his hairline has receded slightly. Even their salesman, Ray Muhlestein, who has plenty of hair, shaves his crown so he can wear a hair piece for demonstration purposes. Dave started developing the patented topper when his own hairline began receding. He was a professional musician and his public image was an important asset. He could find nothing on the market that satisfied his specifications natural look, washability and swimability. Im not a chemist and am not trained in plastics, Dave said. But he had inherited an inventive streak that ran in the family so set up a home laboratory and spent much time and money in the next four years developing his process. When he had finally perfected his hair piece and started in business, he invited Erent, a machine tool maker, to join the him. Bren developed equipment now used in the manufacturing process. They have received guidance from a consultant in marketing and from experts in various fields related to their process. Utah Indus nidi Services have been very helpful in supplying us with technical information on every aspect of our business, Dave said as d he plopped a hair piece on our shiny donle. The transformation was startling. Women will be chasing me all the time, we gasped. We furnish a club with Dave every hair piece, watched Dow Jones industrial average on Feb. 9. 1966, attained its historic closing high of 995.15. At the bottom of the bear market which set in that year, it closed at 744.32 on Oct. 7, 19GC. Followed by nearly a j ears rally, it climbed to its next highest mark at 943.08 Sept. 25, 1967. The heavy volume of trading has caused such a pileup of paperwork in the nations brokerage houses that the stock exchanges have had to shorten their work week by one day. The four-daweeks have run all through the summer and will continue through most of tliis month, although Exchange officials have indicated that they may be near an end The backlog apparently became too much fot the staff of Schwabacker & Co.s office in Las Vegas Friday. Ten of them walked out and threatened to go to work for a rival firm. An executive from New York, who flew to Las Vegas to deal with the crisis, said personnel from other branches would man the office. This is very unusual, he JAN j FEBTmARIAPRImAYI DEC NOV ? & f V; i r7?s $ 4 j- l - Inc., a has manufacturer, clotliidg been chosen stock of the week Stock by the Electronic r rgnnnmrg 8 a a b a a a a Evaluator Corp. ' 2 McGREGOR DONIGFR (19) MGD is a major producer of mens sportswear, INC. i'ircrirtnrm mwOTiiDWi n Fun And Culture: Dean Witter Weekly Calendar Music and Dance 30 a m , radio broadcast In tha Tabernacio. pm., Oct. 10. Free Utah Symphony Orchestra Open concert, conducted by Maurice Aravanel, Arts playing works by Bach, P&rtck and Brahms; Weber State College Fine OcJ. I, Sait Lake Mormon Tabernacle, Center auditorium, 09dcn, I o.m. I 30 pm , Oct. 9. University of Utah Children's Dance Theatre Family n9ht benefit concert, directed bv Mss Vrmnia Tanner, Kingsbury Mo'l 7.30 p.m . Oct. 12. Mormon Tobomatlo Oct. ; 'rehearsal, Choir-f- BS 7.30 ' 5 , ' e , ,j- Festival Winds Chamber groups Brigham Young University DeJong Concert Hall. 8:15 pm , Oct. 7. harper's Bnarre Chase Fine Arts Center concert hail, Utah State University. Theater 30 p m., Utah Stat University Repertory Thooter "Barefoot In tne Park Oct. 7, f and 11; "Charley s Aunt," 8.30 p m., Oct. , 10 and 12; ail performances In the o'd Lvric Theater, downtown Logan. "Yewr Father's Moustache" Gay Nineties Revue, Silver Wheel Theater, Park City, 8 p.m., Oct. to. Park City "N Mother to Guido Her- -' Silver Wheel Theater melodrama, 8 p.m., Oct. 5. 11 and 17 I State Little Theater production, Ogden, p.m Oct. S, "Uiv" Weber College and 9 Through 12 Other IN ents Dave Bonham, inventor, fits hair piece on Ray Muhlestein. "U.S. Foreign Policy and the Alliance For Progress" lecture by Hon. John Will is .Tuthill, u S. Ambassador to Brazil Orson Soencer Hall auditorium, Univrs ly of Utan, noon, Oci. 8 Free Milton Benmon Memorial Lecture DeWtt J Paul, chairman of the board. Beneficial Finance Co, Morristown, N J., Mark H. Green Hall of the U. of U. Business lecture Budding, 8 pm, Ot. 8 Fre "The New Red University of Utah Travel Club coior film 'ecture, bv Bathie $turt, Kingsbury Hall, 8 pm. CM. 1C Lecture by McLauVtlm, oceanologist, Weber State "Marine Productivity" College Fine Arts Center auditorium, Ogden. 8 pm, Oct. 10. Southwest Indians" Lecture oy Mr and Mrs. Edwin Seouaptewa, of the Hopi and lava to tnbes, Senior Citizens Center, 237 StEast, Oct. 11 Free. Moon" Star Chamber program, Hgnsen Planetarium, 15 So. w,estificrion State daily except Monday. Museum and exhibit ha'I admission tree. (pm. ALLIED MILLS INC, (71s) ADS is a leading processor of livestock and poultry feeds and also opertes a large poultry raising operation. Further growth in feed sales, rising poultry and egg prices, expanded marketing outlets and the possibility of lower so) bean prices should continue earnings uptrend. Earn STOCKS FOR , 7 , - $3.42 ft. . A' matV per s How to develop now markets Joseph H. Francis, chairman, for Utah agricultural and indus- Board of Agriculture. trial products will be explored Lawrence Fox, Washington, at a conference Wednesday at' D.C., director of the Bureau of Hotel Utah. International Commerce, US. The Utah Agricultural Indus- Department of Commerce, will trial Foreign Trade Conference be the luncheon speaker. is sponsored by the State Other speakers are to be d ings for the 12 months ended Board of L. Beukenkamp, WashingAgriculture, Industrial Jure, 1968, were $1.84 per Promotion Division and the of- ton, D C., coordishare, up from $1.54 per share fice of the governor. nator, Foreign Agriculture Serv Gov. Calvin L. Rampton will ice; George Zettler, Los for the previuous 12 months. vice president of ESE estimates earnings of give the opening address after a Angeles, $2.10 per share for the enming 10 a.m. opening statement by Flying Tiger Line Inc.; An annu year. dividend is paid on the recently split & Btd-boul- state-feder- al Sales Gimmicks shares. TV -- v r for a V' High STOP PAYING $200.00 COZY Prices" SALES PH. 11 x 8 OF 70 m k FIBERGLASS -AUTOMATIC DOWEX, Whi Htovy Duty Mfr. er Brown Salt Lake LIFETIME GUARANTEE 27 YEARS IN RUSINFSS FIT YOUR SPECIFIC NEEDS in Phone me. 466-445- 3 and tanks used on Columbia, Rayne, Water Fidelity, Apex, Saxton, National, Total. HEATING PLATTlo Villa MFC. CO. Nl 3068 Hiqhiand Drive Tt-ramr- Col. Lacouture Solons Approve Wool Bill - WASHINGTON Agreement was reported by Senate and House conferees Friday on an amendment by Sen. Wallace F. Bennett to close a loophole on U.S. wool tariffs. The committee report will be considered by the two houses next week, according to the Senators office here. The great Mormon Tabernacle j yur own Mfof. -- nMor family home MODE! DtSISNFS i- - 1 COMM. Factory Wholesale VOLKSWAGEN 486-2- 1 v Water Softeners mmmu instauawn South Main g Must Stop! r FimriACE INTERMOUNTA!N4l7,r. l Mr. Blake LENNOX Today Co. Incorporated Research Oeoartment deiense against an enemy attack. Salt Lake is one of spveral sites selected for the base, which will have a major impact on the valleys economy. Mr Balke, a native of Denver, will talk about personnel requirements lor a jet airline now and in the next 10 years. Mr. Wissner will give a similar presentation, with the emphasis on future expansion into worldwide routes. One reason the college is sponsoring the conference is to determine what role it can play in training Utahns for careers in the aerospace industry, Mr. Nelson said. CHOOSE A llieks-Ponde- per share, versus - tli a LJ Lit) Z EASY TERMS 1969's , Study Foreign Trade WINTER CAllTVL GUNS ings. However, lower extraordinary expense and improved demand and produt t mix a have produced sharp rebound in earnings. Benefits r from the merger with should provide additional earnings improvement. Earnings for iie 12 months ended June, 1968 were $3.12 - Saturday, October 5, 1963 anti-bailist- share for the previous 12 months. ESE estimates earnings of $4 per share for the next 12 months. An annual dividend :! $1.50 per share is paid. & 4B MISSILE TALK Col Lacouture is scheduled to discuss the Impact of a Sentinel Missile System site in the Great Salt Lake Valley. The Sentinel is an missile designed to provide initial BIT E BELL INC. (56) BBL is a leading manufacturer of work clothes and also produces uniforms for industrial laundry, rental and western wear. Lower demand and expenses incurred in convening to knits depressed earn- j- s Dow-Jone- American and TWA. Mr. Tippetts, a native of Idaho who lived in Utah for many years directs personnel and training for the FAA. He is scheduled to discuss the present and future needs of the aviation industry, with a local emphasis. Gen. McCutcheon was named commander at OOANA in Ogden last December. He'll be discussing the role of HAFB and its manpower requirements in Utah. paid. - 1967-196- overage hit a new year's high of 952.9 Friday, as volume continued to be heavy. The Those participating will include Joseph H. Tippetts, associate administrator of the Federal Aviation Agency, Washington, D.C.; Maj. Gen. Robert H. McCutcheon, commander of the Ogden Air Materiel Area at Hill Air Force Base, and Col. Arthur J. Lacourture Jr., director of the Directorate of Ballistic Missile Defense Plans and Requirements. Others scheduled to participate are James Wissner, vice president of Pan American World Airways, New York City; Richard L. Blake, employment manager for United Air Lines, Denver, and a panel of local aircraft managers in Utah. The conference is being sponsored by the College and is by the Salt Lake Area Chamber of Commerce, the Utah Municipal League, the Utah Division of Aeronautics, the Utah Association or Counties, the Utah General Aviation Council an dthe Utah Civil Defense Council. 7 AIRLINES Airline participants include United. Western, Air West, Frontier, Continental, Pan New hair pieces ure fashioned by Mrs. Ray M. Bolen and Mrs. Harry R. Ulmer. I pv-- ' ISEPT The impact of a Sentinel Missile System on Utah, the role of Hill Air Force Base in the state's economy an dthe future needs of the aviation industi7 will be considered at a special conference being planned for Nov. 14 in Salt Lake City. The Aeronautics and Missile Fabrication Conlerence will be hei dat the new Utah Technical College at 4600 S. Redwood Rd., said Jay L. Nelson, president, today. THREE ON HAND - L ' and also produces swimwear, boys sportswear and a quality line of sweaters. Increased emphasis on more profitable lines, excellent order backlog, expanded production facilities cffttvr nnncimt. )!-) i.viiwmv wiiwuki uttu ui. er demand are reversing the downward earnings trend. Earnings for the 12 months ended June, 1968, were 43 cents pen share versus 54 cents r share for the previous 12 months. ESE estimates earnings of $L per share for the next 12 months. An annual 60 per cent share dividend is j AUG CLOSINGS FRIDAY Computer Taps Clothing Firm Modregor-Doninge- JUL Aviation Session Slated St pnA .m STOCK OF THE WEEK r JUN 52 WEEKS said. side-parte- smiled. peaks. The widely y S.L. Firm Is Blossoming By ARNOLD IRVINE Des'eret News Staff Writer own temperature to reach for new I DEALER OUTLETS THRU-OU- T Lake City, THi WEST Whether you n ttd insurance for a large Institution like the Mormon Tabernacle or for home, fa,, nly or business, we can provide protection for virtually everything you value. Call on us with confidence, as you would your doctor or lawyer. CAY1AS INSURANCE Theatre Salt USFkG agent can insure them Your Utah AGENCY m aitHi.ao omvi SAIT tAKf CUT UTAH ntMtaSMIll Salt. W |