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Show DESERET NEWS. TUESDAY, JULY 12, The issue of utility subsidiaries surfaces again By Suzanne Dean Deseret News business writer Arguments as to how much further investigation should be allowed of Mountain Fuel Supply Co.'s relationship with its subsidiary. Wexpro, punctuated a daylong prehearing conference Earlier this year, perhaps partly to ward off such problems and also to seek independent financing for exploration, MFS formed Wexpro. The wholly owned subsidiary owns oil and gas land leases and, in cooperation with the parent firm, searches for and develops oil and gas. explored again in thp rate case, beginning July 26. Asst. Atty. Gen. Stephen R. Rangle, representing the state Division of Public Utilities, which acts as adversary to utilities in rate proceedings, told the prehearing conference the Wexpro issues are "the most complex" the present PSC has faced with a potential impact of "millions of dollars to rate payers over the next decade." The PSC, however, denied Randle's motion for a postponment of the rate hearing opening date. Randle asked for the delay on grounds MFS has failed to supply information the Public Utilities Division requested, some of it about The PSC seemed to avoid a strong stand on whether Wexpro and the whole y issue will be utility vs. Wexpro. In denying the motion, commissioners said the division and MFS met last January and agreed on criteria for One year, the PSC moved to abolish nonutility status for assets and subject all MFS property equally to rate of return limitations. Anticipating a drastic price drop, the New York Stock Exchange promptly suspended trading in MFS stock. The PSC reneged on its order. Monday. At the end of the conference, the tah Public Set vice Commission PSCi hedged on what role Wexpro issues might play in a pending S2K.6 million MFS rate case. I In recent years, a hot issue in such rate cases has been whether MFS has been too quick to label assets as nonutility property. By doing so, the firm would not be limited to the PSC-slegal rate of return on the properties. et non-utilit- Deseret Press. 1600 Empire Road, recently completed printing of "United States Stamps & Stories. Volume Four" on contract from Scott Publishing, New York, for the U S. Postal Service. Urn ted States ' stamps. I Advertising Associates. 225 - 2nd East. Salt Lake City, was elected a vice president and charter member of the board of a new national orgeniza-tion- , First Network of Affiliated Advertising Agencies (FNAAA). : (VSTOHIES ; We did the entire project after it came into us as artwork. We did the color separating, plating and binding, explained Kay Schwendiman, general manager. Although the printing job was mediumsized for Deseret Press which does job printing for businesses and manufacturers throughout the West, Schwendiman said the project was unique in many respects. It was a difficult stripping job because there were thousands of stamps that had to be individually placed. And it was unique because the color register had to be studied closely so the stamps would appear the same in the book as they do in real life," he explained. Sales Representative Dave Pratt said that Deseret Press heard through a former customer that Scott Publishing was looking for printers for the job. "We submitted bids and were lucky enough to get it, he said. Printing was done on Deserets five-un- it web press, Schwendiman said. The job press also recently completed printing catalogues for Gates Rubber Co. and Walker-Scot- t Stores of San Diego, as well as printing a set of books for Dr. Frank McGill, a West Coast publishrer. n ffiliated Tuesday's Quotations (lb; and choice choice slaughter heifers good and choice 2 3 ID. good 32 2 4 00; utility and commercial slaughter cows 27.00 26.50, few 29 00; 0 tew 27.50; yield cutter 7 lb. slaughter grade few 37.00; bulls 34 NORTH SALT LAKE Producers Livestock Auction for Monody, July 1. 1977 balaWe at auction: 7?6comoerlwithSfl0 last year. Previous sale not reroroed No proe comparison Average seasonal fair to good oemano. Most feeoer cattle selling as singles or few small packages. Supply about to oh- cent slauqn-te- r cows, about 30 per cent feeders with only few better than offeree, IS per cent slaughter steers and heites. Feeoer steers- mostly choice, few good, few choice. eXkuQ lbs, 6F0 lbs, lbs- 38 39 10; couwe individuals, 40 40; standard and gooc hoistems, 25. lbs, 29.75-3lbs, Feeder heifers: choice, 40; indilbs. 29 choice. viduals, 555 lbs, 35.20. Slaughter cows high utility and commit 26.80-250; herterettes and good cal young cows, 28.00 32 20; other utility 22 good 35 lb. 00; 37.50-3- 9 lb. ; 31 few 900-1- , ment with General Mills. Also elected were Bill Dr. David L. Scott, a Bountiful pediatrician, and Dr. Terry M. Buxton, a Roosevelt general practitioner, were elected to represent health care providers. Other officers include O. C. Madsen, Salt Lake City, comptroller for Kennecott Copper Corp., vice chairman; Jed Pitcher. Bountiful, general manager of Blue Cross and Blue Shield of Utah, secretary, and C. David Kikumoto, Salt Lake, also of Blue Cross-Blu- e Shield, comptroller-treasurer- . Executive committee members are Dr. Richard Nimer, a Provo internist; Robert Bischoff, Sait Lake City, president of Commercial Security Bank; Richard Kinnersley, Salt Lake City, executive director of the Utah Public Employes Association; Smith, and Madsen. In a president's report, II. G. Pearce said Blue Cross-Blu- e Shield's reserve position is now well above statutory requirements after financial and management development since the first of the year. He said the better position can be1 attributed to more efficient administration of claims and benefits, and savings from a cost containment program started in November. 1,275 2 50; Monday's Quotations 0CERTIF. lbs, 35.70-3- CERTIF. im - lb, siueis. choice good. Shares, removed from sale on June 30, 1970, are now $74.68 billion. Treasury officials tributed the increase in to the work of a sale's force, spearheaded by the U.S. Industrial Payroll Savings Coinmit-te- e and its chairman, G. x ' manual in each mobile home before it leaves the manufacturing plant. home manufacturers have 19 more days of the'ir month's extension of a deadline placed by the U.S. Department of Housing and Urban Development (HL'D) for placing consumer manuals in the homes Mobile HUD spokesmen said the manuals will explain how to set up. anchor and maintain the mobile including their operation and repair. Also included will be written warranties, an explanation of the mobile home construction and safety standards act, and the location of the homes data plate certifying the unit was produced according to federal homes, HUD granted the extension because several manufacturers said they needl'd the additional time to prepare the materials. The is requirement Livestock Loans tor youT noeds--production T feed, stock, eoinpment Let s talk Call Dick Phillips. Mp Utah t ivestoch ?CA 8011 SIC Advert- y ising, Providence, R.I., SHOP EXECUTIVE MODEL It you need guy tor modolmg, ond gol public relations, Call us for your fill-i- receptionists, n radio ipots, promo's, typists or tor TV or chemicals CALL INDUSTRIAL SOLVENTS CLEANERS US AT EXECUTIVE MODEL SHOP 3000 Highland THATCHER 487-492- CO. CHEMICAL the Hi! I'm Louise with vice president, and Herb Gardner, retired from 3 Dr. L 1 Stnr Malouf, 1900 FortDM Road (14M St. 1900 Wttf) Phone volunteer nationwide six-mon- th dent; Sanford Fern, at- the National consumer -- WASHINGTON ol Mobile Home Construction and Safety Standards Act, which requires manufacturers to prepare and distribute a on mobile homes Mgr. (Training Available) 7 Fun Day is when you surprise her with tllllp - MI 00. Slaughter heifers: good and choice CERTIF. SOUTH ST. PAUL, Minn. Cattle and calves 4,300 Tuesday; slaughter steers and heifers slow, steady to weak, instances .50 lower; cows slow, .50 lower, instances 1.00 lower; bulls 0001 300 lb. steady; choice 2 4 00; good slaughter steers 3V lb. 38 and choice 2 3 choire 38.0039.00; 50; good lb. Hoistems 1,200 ,scKr: See your Grain futures 200,31.50-35.5- Siauyhier Chevalier of Hugh Dwight Advertising Inc., Portland, Ore., presi- Freedom tstanding pari 100 lbs. Slaughter bulls: yield grade one, 13 45 lbs, 35 00 36 70; yield gtauc two, 38.90-4- of H William Miller, chairman of Textron Inc. vealers steady to weak; canner, cutter, Advertising lowing a number of years in retail clothing sales and marketing manage- MD named to Blue Shield board Livestock market non-utilit- y Delay granted the spokesmen said. They said that Americans now hold $74.28 billion worth of E and H Bonds, an increase of more than $4.5 billion since June 1976. Total holdings of Savings Bonds, including ou- . Nord began his Salt Lake agency in 1958 fol- re- talk -- Agencies tNCAAA). i trade . Series E and Series U.S. Savings Bonds for the first six months of this year have set a record, the savings bonds division of the l.S. Treasury Dept, announced. Sales amounted toll. 11 billion for the January Jtine period, five percent higher than for the same period in 1976 and the best for the period since Treasury officials said. Second quarter sales of $2.06 billion were recorded, seven percent higher than the April-Jun- e period last year, they added. The resulting net cash inflow total sales minus total redemptions including accrued interest was $510 million for the period, the largest in 28 years. ( 8. non-utili- ty . - WASHINGTON Sales k Y record 32-ye- ar during a recent four-da- y meeting here which un ited 24 independent advertising agencies from across the United States. The group is the result of a merger between First Advertising Agency bnet-worFA AN) and the National Council of A- - r: Dr. A. Krehl Smith, a Salt Lake obstetrician, has been named chairman of the Blue Shield governing board for 1977-7The governing Iward was also reduced in number by three and restructured to give a majority to public representatives during Blue Shields annual meeting this week. Eight directors will represent health care providers and nine will represent the public. Elected to serve three-yea- r terms as public representatives were Lloyd E. Burton, Salt Lake City, Mountain Bell area accounting manager; Malan R. Jackson, Sevier County, executive director of the Association of Governments, and Gary Jenkins Sr., Salt Lake City, vice president of Jolco, Inc. Allied 4 for his SUMMER SPECIAL I Bank clearings . i; ' ' li., ', , We've got 600 buildings worth of experience Tuesday1 quotations Monday's debits Same aay last year Today's clearing Someday last year $193,424.463 $161,348,950 $120,205,927 $112,793,782 Ih.cV how m.in 00 92 08 intermountain Stock Exchange Ask nylnds tMotCon ,iavton .rjmhMrt omet ixnstgck .omteiini , .09 425 3 75 .82' j 8 08 .OS .62' 3 06 , .70 .75 07v, .omF-'j- r 75 85 iv 21 rown ;rshOil 45 50 . 17 1? 40 asttJtah EurStand Fvcaitbur GoidCham GrWest hjsthmm 16 14 OH j 17 75 47 .25 ComFur t 000 at Croft. 1,000 at 20 5 100 WAYS TO HOLD A BETTER MEETING STEP TWO KvU7c) Shares LoveOH laPar Mmoth MwstEnrg ft. . . 50 Common Stock ho-hu- m ParxCity SALES 05; 3,000 next meeting The location can make it a winner Of just another session. If a hotel can't otter golf, tennis, horseback riding, special banquets, entertainment, then come to the Cest Bon Lodge in Park City. We've got 100 ways to help you with your next meeting. It's a handy checklist that you'll use over and over again. It's free. Just call C'est Bon Lodge Group and Convention Sales 8 (or your free copy of your Nowpwrk Nouinc y NoLiiy at I 80 FurStand, 500 at 70 PetroSilver, 20,000 at .10 Over the counter Tuesdoy't quotation interdealer prices as ot iatiam from ttw NASD are representative ttirouohout ttie day. Prices do nmately I p.m. tnterdealer markets change or commission. markdown IimSr markup, huiMing-- i mcc wc'c been ( oiiuncrci.il buiMmcs. in ui.lii'-tiu- l biuMinriv I'oililiric- - I uric ind .in, ill biuldnic-I- l olllct'V illls. .ill holl-C- -, built 00 Tuesday's Quotations u istoi 5 operations or accounts should be investigated. He did note that MFS's profits from oil have soared in recent years. "In the past," he contended, "alot of the costs of holding the costs property, of dry holes, or exploration risks have been borne by the utility part of the business. Costs have been fairly allocated between utility and operations, countered MFS attorney Robert S. Campbell. "Where a gas well turned up oil, the stockholders reimbursed the utility for (the well's) capitalization costs," he said. He added that "the whole issue of properties has preoccupied every rate case since 1972" and said issues that have been "reviewed, assayed and litigated" don't need to In reheard. non-utilit- Bond sales set FNAAA was organized Artwork on the Stamps & Stories cover calls exciting events from U.S. history. proper, and that was all the PSC ordered them to do. The document includes MFS's version of the joint report. In attachments to its motion for the extension, the division concedes lhat y "the assets transferred are assets as presently defined by the company. However, the division believes that there are many more issues related to the transfer. Therefore, the scope' of the examination was enlarged. MFS, meanwhile, acknowledges that one reason it opposes an extension is that it hopes shortly to sell stocks and, or bonds to capitalize its new subsidiary and can't do so if there is a "proceeding pending." Randle didn't sjK'cify in his prehearing arguments what features of Wexpro Gardner Advertising, St. Louis, executive secretary. COLORADO SPRINGS Lewis V. Nord. Bountiful, president of Nord A i non-utilit- y B National group elects S.L. adman Deseret Press rolls history Salt Lake presss work will go on sale soon in post offices across the country. propidentifying utility and erty. Later, the PSC ordered the two parties to dispense with the Wexpro matter by filing a joint report verifying that any MFS transfers to Wexpro complied with those criteria. But after repeated questions from Randle, the PSC agreed that it will admit any relevant testimony or arguments during the rate case, including, conceivably, those about Wexpro. Meanwhile, a separate clash between MFS and the Public Utilities Division over Wexpro is still before the PSC. The division has asked for an extension of time to prepare the supposed "joint" report verifying that transfers to Wexpro were proper. MFS has filed a letter objecting to any delay. The letter asserts that both parties have agreed the transfers were 1977 Precision Casiparfs Corp. Price SI 1.50 per Share (! n.i.in -- il Hli.,1 does our cvpcucnc h.o.c lo do wuh our new budduiu nun'ci ol tlnnc-,- : I. We v.iu build sou mu .iboul or kind oi huildinn ,u :s si.-Soil W.llll Vic i. in l ike c.ite ol cscis dct.id tli in Mic selection to I.iiutsc.ipuiri. oi in- c.m do ruts fi.ul ol it. How i si r son ss.uil to woi k it ' o ni.tllci ub.il ph.isclsl o i out building piotcil we bundle, s ou ie of ,i prolession.il ob. .mil t dm experience bus tutt::!it Us to he extremely ctficicnt. W bii h results in lime .mu money siixmes lor sou. Ifsou're planning lo build, call us. We'sc got a lot of good buildings lo our credit. And we d like to add vonrs lo the list i'j 322-550- ft H ;h .oj lh 'h-- .;u: '.I v ( u.h ii. .ov,. ,.i I k. ' ' BUILDERS, INC. Q?' Oil Drawer Empire Aye., Park City. Utah 84060 UTAH SYSTEM Foster (Marshall Inc. 27 North 8th West Salt Lake City 7 Phone: 322-130- COMMERCIAL & INDUSTRIAL ) BUILDERS |