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Show Tight RAoney Seers 'EHteldover' Poe TOs continued short supply of money. aiul continued high interest lutes in the 7(K was the fui e "'eUneMley by t, Gene Domn.m. Piudenli.il Fedot. d Sa mgs sml Loan Association A .I'-- t pte-uid- Ills annual lepoit to Donovan sud, Stockholders, .Money ta'es for the deiade will remain high, and continue higher, with shoit range swings quite probable from lime to time, and in goneial .suggests an economic climate foi tne savings and loan business which is not conducive to traditional using progiess, and historical opeiatmg techniques. Significant piogiess was 111 : made by the company during the past ID years. Donovai said, tint 10(19 was disappoint mg. "In the yeai just ended, saving-- , net inc lease amounted to $2,981,000, which is far lie noted. fiom dramatic, ike decade, Over savings leached $170.2 million, an increase of $10.7.9 million. Aets leased by $18.2 million, aeeoiding to the leport, bringing total assets of in 1909 iiu the firm to $231 million. Donovan also reported that assets handled by the association met cased $19 million during 1909. At year end we ueie servicing, in addition to our hook assets, $89.2 million of U.S. Stee! Increases Price On Shapes, Plate - PITTSBURGH (AP) U.S. Steel Coip. announced today an average pi ice increase of about 4.(i per cent on structural shapes and plates which account for about 16 per cent of total industry shipments. The move by U.S. Steel, the nation's pergest producer, follows previously announced hikes hv Bethlehem and Kaiser Steel similar U.S. Steel said increasing die price it was of sheet piling $10 a ton effective Feb. 16. carbon and high strength structural plates and I $7 a ton effective March and alloy plates $10 a ton fective March 1. 1. ef- At the same time, the huge steelmaker said it was studying recently announced hikes . sheet and by competitors-orstrip products. oar.s and for contracts he sud. During the others, decade, the company sold $102 million in loans and contracts. In the year just ended the inci eased its gross investment in mortgage loans and cuti tracts by $15.3 million of on a new loan volume total $38,370,000, bringing loans outstanding to a new rec-o- i d high of $191.7 billion, or 82 9 per cent of our toial asset'." Donovan said. He noted that the firm now has $38.6 million invested m commercial real estate loans, units, including shopping centers, motels' and office buildings. The company's percentage of FHA and VA loans has shifted during the past decade from 40 per cent to 17 per cent. The companys general reserves and undivided profits increased $9.2 million and reached $14.3 million by the end of the decade, Donovan said. Net profits from operations for 1909 were $10.5 million. From this we paid dividends to savers of $8.4 million. leaving a reserve credit of $2.1 million. New directors cleced at the stockholders were meeting Dr. O. E. Grua. Ogden; Stanley II. Heal. Provo businessman, and Allan D. Musgrove, president of IML Freight, Inc. In his forecast for the seventies. Donovan predicted no significant business downmulti-dwellin- g turn , "WWifyi AT&T Offers aqmugflwr ' 9 30-Ye- 1 V 1 MUMHRw . , 'V m t Debentures H-.- NEW YORK A P ) American Telephone & Telegraph C o. directors announced Wednesday plans for an offering to its shareholders of $1.57 billion nppo.Mmately principal amount c? debenture'-- , with mgether warrants of approximately r Lie to purchase an aggregate of about 31.4 million additional shares of the company. The N'pvv York Stock Exchange Wednesday suspended trading in the issue, the most widely held in the nation, due to the unusual importance of the piopo-c- d offering by AT&T and the large number of investors affected. The exchange felt the public should have an additional opportunity overnight to evaluate the details of the compaa spokesny announcement, man said. For each 35 shares he holds, a shareholder will be entitled, on payment of $100, to subscribe for a $100 debenture with warrants, cxerci able after six months, to purchase two sharps. It is expected that the interest rate on the debenture w ill he generally comparable with the going rate on Bell System issues at the time the teims are set, a company spokesman said. Rignts to subsciibe will be issued to shareholders of record on a date in April. 1970, and will expire on a date in May, 1970. Other terms of the offering will be determined at a later date, the spokesman said. ( I -. I - ' j ' . p -- - - ' J, ' ' Wv. .&.sW - ' ' Thursday, vo 1 ' ,w- s January 22, 1970 Inc. Sales for the quartotaled $112.9 million, an increase of six per cent over last year's $107 millicm according to J. L. Scott, picsi-den- t. ter over the nine-mont- $1 million or 18 cents He noted that Albertson's stock lias been approved tor listing on the New York Stock Exchange effective Feb. 10, and that formal ceremonies are being planned tor that per share earned during the same period a year ago, Scotl said. d Sales for the ending Dec. 27. 1909, amounted to $339 million as nine-mont- date. Assistant Vice President Appointed Deseret News Phcto by Ray O. Jones Drill To Bo Shown This surface raise drill built by Utah Sprocket and Machinery Co., 5th South and 4th West, for Shaft Drillers, Inc., Las Vegas, Nev., a drilling contractor, will be on display Wednesday at the Utah Sprocket yard. The drill is to be used for sinking shafts up to 12 feet in diameter from the surface to existing mine tunnels, according to Charles K. Presley, Shaft Drillers vice president. k & Cosmopolitan magazine. She comes to Peck & Peck from Lane Bryant, where she has been Copy Chief for the last three years. Vice President- Named - The appointment of W. Joe Seaton as executive v.cc president and general plant manager of Garside Corporation was announced today by David A. Garside. president. Garside Corporation, 2310 South West Temple, is a division of Salt Lake Safe & Lock Co. and manufactures burglar, fire, and emergency alarm systems. The company has received over $800,000 in'contracts since begin' ning production in late 1969. , A native of Salt Lake City, Seaton has wide experience in electronics manufacturing, production test general foreman at LTVs Memcor-Monte- c division, .Electro System where he had also been quality assurance engineering supervisor. He is a member of the American Society of Quaity Control Engineers. MALIBU engine, white sidewall tires, T. glass, bucket sedts. Cranberry red with red vinyl interior. New Ad Manager Miss Lee Paik was appointed Advertising Manager of Peck, according to an announcement today by the Fiuit Avenue based chain of fine womens specialty shops. An honors graduate of Kent State University in Ohio, Miss Park took graudate work at the University of Utah and was very active in the University Theatre. After going to New York seen years ago, Miss Park had done extensive writing for TV7, films, magazines and newspapers. Articles Miss Park have been published recently in !!! V-- 8 . Carl J. Zwahlen, Ogden, has been appointed assistant vice president by Galbraith & Green. Inc., Employee Benefit Consultants and Administrators. The Utah based firm serves clients in fifteen states, with regional offices in Utah, Arizona, Idaho, Colorado, and New Mexico. Zwahlen will direct the sales and administration in the Northern Utah area. He attended schools in Salt Lake City and graduated frem the University of Utah with a B.S. degree in 1959. Following his graduation, he was employed by Montgomery Wards for one and a half years, and for the past nine years he has been affiliated with Uarco Business Forms as an account Air. Zwahlen F SPORT COUPE our biggest money saving event of the year! h Included in the 1969 earnings figure is a gain of $568,034 or 10 cents a share from the sales of the firms investment in a trading stamp company, Scott said. Earnings for the quarter of million or 19 cents a share were up seven per cent A277 Choose from over 100 new 1970 Chevrolets at pie-vio- $1.1 rlh CHEVELLE and earnings for the quarter ended Dec. 27 were reported today bv Albertson's, five-yea- DURING THIS SALE compared to $314.4 million In the previous year, an increase' of eight per cent. Earnings for the 39 weeks of 19C9 were $3.9 million or 68 cents per share compared with $3.7 million or 65 cents per share in the year, he reported. Increases BOISE, IDAHO in sales qquxp ii oo (rouoKid N Toledo Adds Oil Fields - Toledo SAN FRANCISCO Mining Co. of San Francisco and Salt Lake City announced the successful conclusion of negotiations on an additional 35,000 acres of oil and gas leases adjoining its Trail Canyon gas field. (Urn s ' 69 Gains Noted By Albertson's 1 ! ar (hmfamitWhmitiihnmfihmill (Raft (Ufa atf)m (hwawan O CORNER ON COMMERCE G503(!fl?jj& ttmmiint Toledo also announced POT HOLDERS, YARDSTICKS AND W 1970 MONTE CARLO SPORT COUPE FREE REFRESHMENTS turbo hydramatic, air 350 cond., fully powered, vinyl top. N V-- 8, 362 its of completion eighth straight gas well in the Trail Canyon located rado. gas field, in is which northwestern With the additional Colo- 35.000 acres. Toledo now has a total of 60,000 acres in the Trailc the i. Canyon gas field. Shutdown Report Denied - B6lSE, IDAHO Boise Cascade Corporation said that contrary to reports it has not closed down any of its lumber and plywood operations. Executive Vice Pres. Steve Moser said there had been some partial curtailments of normal operations because of the extremely depressed housing market and severe winter weather conditions much of the country. across - For all if our Utahn Named AIR CONDITIONING and Heating - needs GORDON WIIS0N CHEVROLET NEW CHEVROLET iMPALA SPORT COUPE and PARK CITY WEST P.S., P.B., Turbo 300 HP, Trans., positrac, W. S.W. tires, vinyl roof, bucket seats. V-- will give the following 5 5 1 - prim each day: ! W mm m DAY PASSES Call K. A. Randall, chairman of the Federal Deposit Insurance Corp., has been named a ulty associate of the Indiana ' LARRY! U niversity graduate school of busi- ness. Randall Is a of graduate 1969 Model Brigham Young " Univer-versit- y 4 and is former ent I.4RRY HIKE SKI LESSONS SEASON SKI PASS iVlIa ISM sfs IBB Coordinating 71 Council of the Assemblies Bank Directors. 385 EAST 3900SOUTH necessary on Committee Financial Institutions and is i member of the Actyisory Per Week Fill in an entry blai no purchase Mr. Randall the State Bank of Provo. He is a member of the Presidents DIAL 262-46- presi-- d of fob WANTED IMMEDIATELY 15.000 - 50,000 CP Growing medical service company has need for private debt capital. Exce- in llent return available. Reply H-3- 5, this newspaper. te |