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Show '' i: : i ' ,1.4 k. i 1 '9. 0 - 0- & i 11 i ,. , i,1 ;,::t B oft '::: , , , N, DES ERET FRIDAY, .....4 ,:::,,.:,:7.::::..;',......,-..........,-.....,:.- '',::). ... ! e-,- i',,:k ..,:,..i,,::.: '' ..,: '';' ., , - ;,?, '...." - .., 4,...';':.,'''.1.;".,, A 02-- 1 - :5.. , 0,:,.4 :'., ,...., ',',,..! - ;A, .,. 4 ":f"-)- '' 12:. , ,.. 2..,i,:.:.,.: 5k.40.101.. .:..'. 0.,!r1E,'.4 i 4 el.' 1 ei .P1, 1..' ''..'',;4: V N, .. .7. -- ;l ...... i-- iI1 ,...::-- 1 t ' '''.- .. government-owne- ,, by , '' .' ..,, .0 - : .:.::,.1-- ' ..., ' : ,. , ,' -- : ..,. , '.. , ' ' ' I , c. s. By Ron Scherer ' ' s r' Mr. Saver 0 , - ,. annual revenues and 66 percent of its profits. Most of the rest of the profits and revenues come from-- natural resources, notably the holdings of Champlin Oil. In fact, the oil holdings have given the UN? stock a certain allure on Wall Street, where the stock sells at 10 times earnings a better multiple than most other railroads. One of the reasons for Union Pacific's profitability stems from its customer base. The railroad does a good business hauling coal (18 percent), farm products (15 percent), monmetatlic ores (11 percent) and lumber (9 percent). It has no costly commuter business or passenger service to worry about.' Still, all is not clear track for the railroad. Union Pacific, along with Burlington Northern, is fighting a group who would like to build a coal slurry pipeline from the Western coal fields direct to utility power plants. Although the pipeline, as presently conceived, affects Burlington Northern more, Kenefick can see the trend extending. Arguing against the pipeline, he says, "Our public obligation forces us to stop at every little way station, but the pipeline carnpany can just skint thz cream aff the top." The railroad also faces the problem of continuous track maintenance. The lack of maintenance contributed to the downfall of the Penn Central. Like most profitable railroads, Union Pacific has significantly mechanized this segment, Still, Union Pacific has room for improvement. Its operating ratio, which is the best measure of a road's efficiency, is 75 percent. The ratio is the percentage of a road's operating revenues that is consumed by most of its expenses, excluding taxes, utilities, rent, and interest on debts. The railroad With the best operating ratio is Norfolk & Western, at 71.8 percent. One of the worst is Penn Central (now Conrail) with 88.3 percent. HI"; The Che!Wan Science Montt, Pieen OMAHA, Nebraska Mit December, the Nebraska State Christmas Tree, located in Lincoln, will look like a freight train hit it. The reason: Gov. James Eon's wife has picked rail transport as the the for the tree decorations. is fitting that the governor's wife has chosen tra because the Union Pacific Railroad (UNK tn Omaha, is the largest employer in this biggest city, and the governor's wife used for the railroad. 6,000 Omaha residents the railroad is more 1 a Christmas decoration. They either wo-- k at the bhops overhauling locomatives or work operating the railroad. Enthusiasm for the company was demonstrated on a recent Saturday when more than 10,000 employes and their families showed up for a "Union Pacific Day." At the head of the chow line was John C. Kenefick, Union Pacific's president, who shook veterans of hands, kissed babies and greeted the railroad. The line has been holding: these gatherings annually for ifs 5,01)0 employes who operate a railroad that stretches from Seattle to Kansas City. The result. of such and other morale boosters, says Keneficl-- , has been to build goodwill between labor and management. This goodwill has helped Union Pacific make a profit. Last year, on revenues of $1,004,342,000 the company made $83,,;1,000. Net income was down from a record high in 1974 and expenses (including an labor cost increase) moved up sharply, However, rate relief from the Interstate Cm. merce Committee (ICC), which controls rail rates, was granted. Profit margins have since improved. The railroad currently makes up 57 percent of the Union Pacific Corporation's (the holding company) . : long-distan- 30-ye-ar - d the Ivory Coast, was to develop the northern part of the country and move into mechanical industrialization with an agriculural base," Silver told the Deseret News during a recent Salt Lake City visit. .14 Pridov's quotations ski Ald Ask . lid ASA , ;,, 1 - - - P-- & '4, :,,..., ') ' As a condition of the 't - .: ,. . . p re- :,i' ' -- t to t , p:' ' 11 ,. . t - , , . - ' , r ' " i, , . 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';,1-21 COLSON ; .:. , ,, , 1, , - .,,.i:d.:...c.,,,,, ..7,115 - - ctint0 ii UtO s milli pilAcy 3 5 .., ', . r.. ,,, ' , atchtl.;1,-,.0.0tvp,k- .3r 17,.,,,,,i..: ,., :,.7,,- '. ,t''? 1 -,.- .....-. . , : ficts4 ctitlisso rd IC 2. k , t , D. ,,,:',',.?4vi - --, .. : ,, ,, : 1- , :.: ,:1'..'f', ..,1, W'irrIAS 0"...6'.!,. :: r.,,;.:..Z.,,:.:E,:.W. 4.1,',", n! 4 a ' . 1V CARROLL ,. , ' :., , .g.4t,-------t---------t.,- 1241,!Ut!V . Oli ., z ;t,(,, ..,: - ,, : . , ... 24 , , - ,:. ,::, - , ".' , -' -- 4,4 " ;-- i ,;';r-;;;,- ,.:.,:?m.T.f.:,--4,,e-094,---.,.;',,,,:7 ;ii: .,,,,,--.,,,,,,,,.' ,, ,letvy 1 ..dC 1 ti?re) . ., obligation, naturallyt ,L7 -, .., : . .C:41,;,,0.,t4W4ir..' ,, , .,; . 'A A. L. ' i : : "......-, ,, ..,;:..,; '.., q, ,! '', ' ADVIESS c1" t",-- .' ,1,4,i---...- I ) 4, -;I tni ,.., ..,,,-,- -, : Ia - ' 1 , .' ,..: pay-ni.:;.;-- 1587 Sough Math Stroot,,. Salt Utah 8411t; PHONE 487-879- 6 MAE Write or, 5 1 "1"7777c'77.71711 ' - ,:- :,..,:,4-L:-..,..',4-,,,,,,,,- aIcket - ' :.,,. ',' I VIESTAMERICA ' ... ' r Egen 'If izso 4, , come in today for further 9, 4v . itOP ACTIOM A46 4P"- 4 ' 41er i , . - . AO' A N' i 2,60,4 26) Jul , .4 , 241 1 2646 1.. ., 2.80 2474 '2.59 -r teb,4- GET 10 On THE 1 sp.72 2 77 2.57' e v; 4;1, ' ' 00 .. 0 ,,e, ,,, Wednesday's quotations , ,I .,q:-- !,,,,,,t '' , ..,0....-- A;111$ '''''''' ' - :- . Recently enacted U.S. Govemmeql legislation has made possible generOus tax benefits for people with no pension plan. Uncle the Pension Reform Act, you can contribute annually up to 15 of your earningsnot to exceed $1500t0 a pension plan. You can deduct the entire amount froat , your taxable income tor the year and pay no ' current income taxes on it whatsoever. in fact, it you pay no taxes on until retirement when, most likely, you will be earning less and in a ,, tar lower What's more. the money .. ' contributed draws interest and increases ' : rapidly in your retirement fund. And you retirernent.(-1-..-'.;taxes on the interest, either, until , Through MONY, have long specialized ,,' : in pension plans. If you are not participating ln a pension plan, can shoyou how t o get one of your own quickly and easilywhile you save on taxes. All it takes is a letter or phone cat,,,. le, 1 - idea! tax-savi- ng - - - ' , 144.. ;:',,.,--- pr , ...- TO Missing out on a pension plan? Read about this big 14, 11, ... ..,.,, metal kits to C 't 6 c,.V 7, VI ,v 0t, '' ''--- , I149 0140 No ., ,N1'. . t0 6, 6 c to 6 e, 40. ',,,eA vloW. 2. 0 . ; - dttkon 4 Se oêm IS" Oil I 161114AM IOW I 4t e- - Zk ,.. 0.k. (,,,,,,, ' ,t-, 43 ,,,.,.,!,. - -- sz:,c-'" 0 , a '''t4 .i .,e, 0 ,t)'- sbvise 4- Sr' 44 ,,-' ftseewadi." UM! 4 epee, Ao,,? -- ' - .2i., , to Irlameco Engineering 010 4b .,,,,, ,, . ' FrietaY's quotations ,,,,,,,,t; .:, , aircraft. Bank cloguIngs .:7777777777r7r77777'.::' :.,::;,1,,,:,,,.:4.,:, : ,,,---- : ': largest 1t , ' FORCE Utah 4 Telecom ... Pt contract -- The ,,i, "relemtn , vo 17.40. 134 Tibner9 31,,) , , went $1,307,574 i JO 35 . 57 . Keniel .., . 446 ..T0160oMns ' 1 )546 Transco Iv , 1741 LeneW016c , .4 MedDevco ',. AP'S 4W Utelbenc . 14,t7 1506 CO ' i Og den , for approxi- , ' 616 Mobenatti 448,. 51.1p VaIntiok . ) 64 .is ' 6 4.6 1,000 Valk AS 494 6v, NntwIll, ... 3 24' '' NWOA S 31Y4 j' 9 94 NPease " ' 34 I 3' Mir& Nw74PP47111 n 7 43 : , strengthen fuel cells on P6,1EntPd ,, 16 ' ,4 ZCAAI 361,6 24 21 14 Z1bnito 14,, Peniotb , , F4 Phantom Jet 61. Initntras ,:. .., pkg,G 11 c ont r a c t s , totaling $3638599 have been let " stiftener" 6.6 35,6 9446 FolsecPll II Utah pacts 1 by HAFB ,Mately ebt Ectudot) INC FstsecCe P8 .4 . t. . Vt..' . - -.' AO!: t Agg .,t ,,, ;id' 246 Ply.t7nCrl.;,, , 1 : 3,11 tieeltb ord 74eallnn em, Hdroti .. 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( :.:, ;. , ' L A ls: BROUGHAMS & , 1 t ,: - ;.2- ,,, The exciting NEW DEVILLES 486-517- - . 533-83- Has an Excellent Selection of NEW 1977 Models ELDORADO the car for all seasons 4 tional $60 million to build the pipeline, if Exxon could get all the approvals it would need, Warner said. . I A V z1 ';; It would take at least five years and an addi- , '.. , .t 2900 So. State Suite 100 Lake City, iiterit 14115 - CARLESON CADILLAC ,' move the oil. J51,,,-- - le, ' UNITED MORTGAGE CO. - , .115 .,141 CALL s - 1 pipeline , and 384-00-44 Center ,, v- , COMMERCIAL LOANS LOANS COLLATERAL - . lirl Filly3 ZCMS 1 J ld end 2nd Trot Deeds, end Lend Contreets. Paid for or not. Now is the time to order Christmas gifts for customers. employee'. etc. They Will appmcaste our femous food gift pacs See ;hem on cAolay oiphone. We'll mail. it you vviih. a five-yepermit to pump the oil ashore, process it and transfer it terthrough a near-shor- e minal to an oil tanker. overland r , we buy, sell end lend on of 0410 Troiley Square - ' ,,9 CONSTRUCTION LOANS FOR OWNER eUltDERS HOME IMPROVEMENT LOANS CONSOLDATION Of DEBTS ?eNfil5.- ,,,, . r'''illi- lat quired to study the possi-i bility of substituting an . t liti i61;MCM212m741 permit, Exxon was . Coast Book Envelope divisions of Hammermill Paper Co. (c:31tre ' - ar of directors has declared a EurStand A3 45 44 1 PannStIvar011' ' 42VSk cnonds Exceiltsur .55 .11 IS prin,:6 2.25 CtuelCorts 2.00 Jr..... Drppobed common stock dividend on quarterly. Golconda 2.87vo 425 SoStand 1.45 41F ipht Of tWO Shares kr 49. Clayton .25 totk, of 85 cents Ooldavain .21 .05 CombMet .03 ... w.commort , , 51411001 3.31;1 3.1141 . 9110. .35 .30 GrWest .60 .76 Co .01 4 .41 1 leterlill l'.' ' ill tri'' a share: Theidwidend is .38 Comslock The LovaOinl JO ' TirrtidAin .16 .65 .05 .01A ComIellm 46 payable Jam: 3 to stock- 1125 14.75 LIAtine .50 .65 pre8enied LANK .20 .11 1 ConsEur 4.15 4.00 :of ree6rd Dec. 6 a Croft at .16;,s Mrlsoitt for derv' approval IMO 1.10P6Ctv 2.15 100 PAterstEtry .60 Crow n .50 ,36 Jan. 18. and -- represents' an in- .25 .20 meeting MvoMatic .10 special OtaKons .16 Cr911011 13 00 41.50 Merl Newpark 4.0) At the same time, author- - crease AA 15 cents .3 ,39 00 Droiton .09 .12 1.19V90019 .95 per pouincy E0911J9011 .19 .21 41 ized common stock would .19 1.50 140 Viintroo Nol..11y .04 .05 12 .10 Entoirg Wer1c0f11 la 0 be increased from ' 30 share, or, ,21percent. pati(City ,., ' million to 60 million , SALES ' shares. ... : CooriTtlInc. 20,000) at .00yv , The effective date of Cigio0Chain, 4,CO3 it .20 .02 15,00D at POroSitver, the split, if approved, will 1,.,,..-r!tt.',IP V101400s, 1,0013 at .20 '', be Jan. 27, at which time , , UP would have approxi- , mately 47 million shares ; O Ver th is countar of common stock out, , Standing, valued at $5 Friday' s adotatiodS AS Iltr ,' - I Real .Estate Loans Call' Novi For Cash by the CoVor and i I The state commission had granted the company NEW YORK ''. Pacific Corp.'s board of approved a Ask Utah-Idah- o El FT LI:S1 with." - Union Pacific Corp.'s board NEWYORKUflion . . Bristol split plan appointed district manager litilTrimIcutsrtutis .. r-E),.:..sm- ,r Nr LIT US HELP SOLVE YOUR PACMEI' NEEDS handle a new well in the Santa Barbara channel after the state's Coastal Zone Conservation Commission imposed what Darrell Warner, Operations Manager for Western Production.' Exxon USA, called "conditions we could not comply to pay dividend - A Dennis Brown has been Tml- - ley Square promotion di- rector, has been accre- dited by the International Council of Shopping Cen- ters. Exxon decided to use ',U.P. board okays Union Pacific Intermountain Stock Exchange:1 c stock I Julia Lee Hogan, the floating plant to (c) 1976, The Owistien Science Monitor Pub Henn's SocietY i yes-man- ," People on the move SANTA kARRARA, Calif. (UPI) Exxon Corp. will anchor an oil processing plant three miles off California's coast and outside state jurisdiction despite a lawsuit to stop the operation, a company spokesman announced. . , president of Exxon to float oil plant 1 what',, "It did just that," he added. "Before, the economy was concentrated in the south with coffee, cocoa, pineapple, banana and hardwood production." Silver recalled that when he arrived, construction on the factory, which was being handled by an American firm, was behind schedule. He said he immediately revised the timetable and began a series of shuttle trips between the Ivory Coast to speed up delivery Of equipment and parts and to negotiate technical requirements for the project. by Felix as conceived Iloughouet-Boign- ' , : yement goodwill alfroad profits ' flakZiA-V- .: ,,, 0 at.. - '04.k:rid& 2 v2-- :. ..10- - .',?.1 70:, ' '- -- ... -- .7... ''- t( , - - .......,, pt a b,or, boos u !s! ...,,,. . ,::. i. ,,4 ,. z. ,.' ', : "., , :,, ,;, ,' , - , . ', 1 ,, '. ", ti ' n ),,;. , e d, sugar operations in the , t Coast, says tbere are some verY' '.'",''''''''..4 "' ,,,,,..-- : ,.. , Ito I ,,, .,:. - 1 JF,,,,i,q ' 1........,!.,,;;,,.,...,,.... A :: for the , 4,7 ' , , . . ri ......:4 :,,,:. ,:,,-.1- ',k..'.;',-.'...'.!'- ,: lj .: -- ? -, - 2 t1:-47.- , Ivor tans themaelves They were such eager learner and I felt that the sugar indus- ' tremendous interest," Silver continued. "In a very try there rightfully belonged in short time two yvars, to be Ivorian hands," he said. , a young Ivor Ian who exact While the Ivorian goventwas outstanding WS Made inent is actie la developing '' Chief of Agriculture. And all the government-rubusinesses. farm chiefs, who previously Silver said it does not &scour., were expatriates, were now ,,, age free enterprise. Ivorians." . ono thwg privatelyoOne shortcoming that be-vvned businesseto pay higher came immediately apparcht, he tbav, the government said, was the lack.of mechani,". could more noddy pay a eel engineers in the equntry,' : 'and, good worker for his efforts," he Political tensions also aursaid. "Furthermore, I think the Ivorians realize that they get faced, according to was the first large projett in the the added benefits of prop3rty country to bring people from all :rand ineonte taxf,F, nn privatp the tribes together, so there businesses that they don't on were some charges of favorit- - government operations, , ism at first. We were able to "The agricultural worker in minimize the effects of this by d goveenment-ownebasing promotions on ability for example, had and hard work," he said. strict limitations on his salary ' based on the number of years The assignment was not free he'd worked. You could recogof political problems, Silver nize 'a man's contribution by said. Ile cited one instance where a key man was arbitrari- - ' giving him a greater title, but it was difficult to reward bim ly replaced by another employe who could not do the job as well. financially,", Silver said.. ; "But in most instances, I was think private enterprise left to run the complex became got its encouragement more I'd taken the job on the basis from the lack of repression than:,, the that I was not a anything else," he added, "The .' American said. government was very careful to , He Said his biggest disapencourage investment by corn- - ,..,. ponies and local people within pointment was that his succesthe country, so more sor was not Ivorian. "My role sand businesses could get going," 2 was to work myself out of a job. , , ' ;. showed ', 2 , "Thc ' - i...i..'izz.,-1,,1g4- .:: : ...,, ,:,.,;:, .4 '7.,': I ,, - F- , ,,, ::': ' .,;,,,,,,,,, -- 7'r 4, ' ',h."'',',,:''.'. ''.''''..:',-.''- iV, ''.f,,i.1' ':; . .'.!.. ;.. ., ,;.. ; , . ' - :',:',2':':i.,,:,......::-::- . .'''- ,,r,v4--.Te-'1.10 fi - ,,,,,,:-.- ...:''' :,..::n' - - f..;:.. 1 -:' ,,,,;;...:, k, ...,74, .. ,;;.... , T ,: ,,,,,,,,,,,,, ,,,,,,,7,,,,,,,t....,,,. :::',- , ., cs') Deseret News business writer How do government-ru- n businesses compare with their privateirowned counterpArts? Barnaru S. Silver, who recently years completed as adn:dhistrator and engineer :: ,.,,, Mat Snow - real ofterenteis., , ,..:,!4,.;, ',1X!, ,;1.Z..,:t .. 'T C'. ' '''''':A'' ' ''directeur'clu bonaine Salver ,:24.k.160440C11.0,1,44 ,.: ,.1.4:.; ,,.,:!,:.4,. , , ;.,3,,,,?0 , ,:: .;;.;r,:., .,41,..,,. '1.;1'i:,1 , , 4 ,,4,,,,,......,-;!, ,,,, , 'coiniilexe" of "S'sdn Sucre" , , ; J..... .. ., ... .6.,7:!... .':::.':'.. :. V. .....::'.:' "Nit,i (Society for the Development of .:. ...''' ; ." .............;.,. ,: i.:I. ; ... ....' Plantationa of Cane for Indus,......,...,;;;......:.:. .. ..,,,.1 ' .' trialization and Sale of Sugar) in May 1974. For the next 30 It.... ra.;4s0,,fi.e ,,, .,...,. t.:, 1 .' ; to, ,..months, his responsiounies in1 cluding administrating agricul'; ' :, 464. ''''''''.- , , ' ' ';' ,,!:'",-.''' r'' ' .. ''''..VP ' i't r' ' ' a tural growth of cane; construe; t. "A'', ,; ,,,.s. ';''''.'' " -' , ' '.4 :,:. : - - , - .".:' ..,.;;',1;:.,,,,,.;',.....,,; ;.A.,,, '.,,,, tion of an irrigation system and :.'.:'':' .L. ;.'sli,.4.-ii,P Air:H.: ..''' .;. .; . .: er0.4...7.c, ' :,.:,.,; .......,:70,,,5.::,:.:...,,,:-.,,,... :..''' I?, .:' the second largest dam in the s '7',: 1 .::',.''''F..;:., '!"!:' ,i' .,'.,,,ir,!::-.'..-:.- .. .:,.W."..s'...... '::!.;,:.1.?.A.e.06',:0',;--;:....,,,,r4.,,.: :',.:', Ivory Coast; construction and liak,difm.1,;;S;4 of the factory, refinoptiation U.P. trains big role in Orrella's economic picture. ery and sugar cubing plant; supervision of sugar sales and shipping, and construction of , ,. ...,:,, homes, schools and roadways in four villages. "The purpose of the project, :''.- - 1;':11 :.. e Ivorlt,Coasi, 511 CiUW By 13 B , :,,.;.:,:,'.,..:.:........::.,:' ' ',.:.''"?''',b '71'4",17 '1 '. ..:. 4,0,-- ' 4. '. ,, ;, ...... .. .. -- ..... b.;:' ,,:,,;,.....::,...; ,,,...i,,-,Z f''' 1976 , 1 :1 NOVEAABER 26,. . 7inaV .. ... .. '4 '.3. Vombee. Gi I - ,, , tailisi , t, , ' Lit 4,., Ce - At: ,1';', ',i,:,i,,,,,,;.;,:. - XI, 4.4 :,, ' .1,,,, .':-' 1 |