OCR Text |
Show NEWS, MONDAY, OCTOBER 3, T977 DfcSERET Engineer that switched t A we 1977, it is By Arnold - to our working raks, an achievement imdei lined by the fact that in only five full SYLVIR I rf i" f years during the past three decades has employment risen more than 2 million Corporation profits have continued to climb impressively, and so have dividends paid on corporation stocks Personal incomes have been zooming, were abov e fl ft trillion at latest reporting date, a full $150 billion over the same period of 1976 Meanwhile, "real" spendable earnings average real weekly pay of all workers reduced by Social Seem ily and federal income tax rates applying to a nvirried winker with three dependents earning an have risen 3 5 percent average income ovci the jetti While still far below a level adeefuate to maintain our productive capacity at maximum efticiency and to prevent bottlenecks, business spending on new plants and equipment in '77 is slaied to increase 13 percent over 1976 and the totals have been steadily upgraded as the year has progressed This is another key force for sustaining the upturn Interest i rites have risen modestly, particularly short term rates, but not enough to force cuts in borrowing, and the Federal Reserve System has kept the money supply flowing In totals more than sufficient to fuel expansion w hath And ev en the rate of inflation zoomed in the first few months back into a double-digi- t 10 percent range slowed as the year went on, so the year fate fell back into the underlying 5 Mi to tt M, percent range PORTER Tour money's worth d post-Vorl- boom of the 19o0sl. And the bolls also will sing out to the world that ours remains among the most resilient and powerful lands any where. of all industrialized But it irt iqiiollv indisput.ihlo that psychologically this upturn has been all the way characterized by gloom-dooNot in memory has a cycle of solid business expansion boon so marred by worries that its death is imminent, so undercut by fears that we are heading for a repeat of the nightmare of galloping inflation side by side with economic slump, so blotched by rnxiety. Statistically, the case for 1977s upturn to an economy turning out goods and services valued at an annual rate of more a size never before even than $2 trillion can be approached by any other nation To demonstrated. eonv and incingly quit kly document . 1973-197- 5 Real" growth in our economy will end '77 at a yearly rate around percent, although this hides the lad that in 77 (as in 76), the pace has been erratic, starting at a sizzling 7 W percent in the first Salt Lake Zone and lor the whole country. Mason expects more of the same In 78. He's going harder m the more buyers Chevette over Educators plan regional institute to lie pushing his dealers to try subcompact market, persuading to choose the American-mad- e Japanese and European makes. Mason expects that pickup triuks will continue to outsell passenger cars m the Salt Lake Zone. The ratio is about 1 3 trucks for every passenger car sold. In his eastern assignments, he was accustomed to selling only one truck for every 11 passenger models. What sort of car does he personally prefer? "1 switch around I drive just about every Chevrolet model during a year. My first 78 model wlll be a Monte Carlo," he said Karen has had a Chevette in the past and is hoping to get the 78 version. Mason isn't denying that, as a GM Institute alumnus, he could follow' the path blazed by Cole and Estes, hut right now, he is committed to making 1978 the Salt Lake Zones best veai ever " City. Last March, the company transferred him to the Salt Lake Zone as manager. Mason admits to no trepidation about coming to Utah, even though he had never been in the West before. "This is the nicest place weve ever lived," he stated flatly. Id like to stay here. I hope tliev lose my IBM card and leave me in Salt Lake. Its a great place to raise children." The whole Mason family is planning to learn i) ski this winter. That includes wife Karen and four youngsters ranging in age from 5 to 12. la his work, Mason sees a good deal of the West, visiting dealers in Utah, western Wyoming, eastern Nevada and in Montana. He spends a lot of time traveling m planes md cars but insists. "I enjoy the job and the dealers I work with. The current year has been a good one for the western regional institute on cooperative education will be held Oct. during the Utah Education Association convention in Salt Lake A 7 City. The cooperative education meetings will be held at the Howard Johnson V. 102 Motor Lodge, South Temple Sponsors say the meetings will show employers and educators how they can work together in preparing students for careers. The Oct. 6 meeting will be geared toward educators and the Oct. 7 session toward emp- quarter, slowing to 6 4 percent in the second quarter and continuing to deeel crate in this last half of the year ("Real" growth measures the rise in dollar totals witn the impact of price increases eliminated from those totals This, however, was the growth scenario laid out months ago by leading economists, and business i a rely played thesienanoas forecast The fundamental housing Industry finally pulled out of its prolonged slump and housing starts have soared to a boom annual rate approximating 2 million, a new record, well above the predations of administration experts, and a prime tone U'lnng the general expansion The rate of unemployment has stuck in a diseoui agingly high range of more than 7 pert uit, w lth the rate among blacks at an appalling 14 ta percent and among black teenagers at an explosively dangerous 40 4 per cent. But the number of employed has been increasing to a new peak of nearly 91 million in late summer. In the first half of 1977 alone, a huge 2 million were added to-ye- Brokerage firms reach Do You A preliminary merger plan - Dean Witter NEW YORK (AD Organization Inc. and Reynolds Securities International Inc. said Monday a agreement has been preliminary reached for combination of the two firms under the name Dean Witter Reynolds Organization, Inc. Dean Witter & Co., a subsidiary of Dean Witter Organization, also would be combined with Reynolds Securities Inc, a subsidiary of Reynolds International, under the agreement. Under proposed terms, outstanding Dean Witter common stock would remain unchanged and each share of common stock of Reynolds would be converted into 0 6 share of common stock of the resulting company. The combination is subject to negotiation of a detailed agreement and to approval of the stockholders of each of the companies According to Finance magazine's latest ranking, Dean Witter is the nations sixth largest brokerage-investmebanking firm and Reynolds counter Livestock market Mondoy'i allocations Mondays quotations Grain futures Two unit bank offices in Salt Lake City will be merged into Commercial Security Bank by year-en- Friday's Quotation OMAHA, Net) (AP USDAJ Lives tock quotations Monday Hogs 6,200, barrows and gilts 25 to 50 0 lb 40 lower, U S 50; lb 39 CO, a few lb 39 50 280 300 lb 38 00-- 39 00, sows closed steady to 25 higher, lb 36 unit mergers Grain range CHIGAGO (UPI) provided necessary approvals are obtained The two offices, former branches of the Bank of Salt Lake, have been 00 7 Cattle and calves 5,500, steers 25 1 50 higher; heifers mostly 50 higher, 75 higher; cows firm to 50 higher, four loads choice and prime 1,150-1- , 2S0 lb steers 42.75-4- 2 85, a few head chotce 1,325 lb 43 00, choice 2 lb 41 50 good end low choice 36 50, part load choice heifers ,075 lb 41 15 everal loads choice lb 40 1 00, and prime lb 39 choice 50; good and low choice 34 0049 25, utility and com50, canner and mercial cows 25 50 cutter 22 Sheep 1,000, only around 300 head salable with the balance direct to dealers, slatghter lambs 25 higher, lb shorn choice some prime slaughter lambs 55 5 50, wooied lb 54 4 the operating under sec- name. Commercial urity Bank of Salt Lake since they were acquired by Commercial Security Bancorp. An application for permission to effect the merger has been made to VV.S Brimhall, commissioner of financial THE WOODLANDS, House Tex. (UPI) Speaker Thomas P. O'Neill says inadequate planning has left the United States short of energy and called for an end to the ad hoc approach to national problems. "In this era of accelerated change, we simply can't afford to reel along from one crisis to Lawyer? 432 Bankruptcy Individual 150 00 plus filing Wrf and Husband 250 00 plus 100 00 tiling fae. Divorce UncontWed 150 00 plus 25 00 filing fee is 19th in size Wall Street sources cakulated that a of the two would create the third or fourth largest firm m the merger Collections 300 00 to 1,000 00 25 of securities Industry. Amount Collected, 1,000 00 or over 20 of amount collected Client advances costs O'Neill urges energy planning Bank seeks Need LEGAL SERVICES AT VERY REASONABLE RATES loyers. Over the 7 Anxiety blotches economic upturn move into the final UK) days of indisputable that this has been another year of economic expansion to the highest peaks ever When the bells ring out 1977, they will ring out more than years of recovery expansion, a respectable middle age as economic upturns are measured, but still not aged against the three-yea- r War II expanaverage for all sions inot including the prolonged Irvine Deseret News business editor A people person that's hat Thomas Ralph Mason is "I would ha', e made a lousy engineer," said the personable Salt Lake Zone manager for the Che rolet Division, General Motors Corp. An engineer is is hat he planned to become when he applied for admittance to the General Motors Institute after graduating from hidi school in Baltimore, Md He was bom m Baltimore 34 years ago. Young Mason stuck with the couise through five years, graduating with a bachelor s degree in mechanical engineering. Later, he earned an MBA at Michigan State Uiuieisilv. The institute program included a large dose of training that gave the student engineer experience ui all phases of automobile production. As many as 35 to 40 percent of the students who enroll at the Institute drop out of the program or go with other companies after graduation. Of those who have stayed with GM, there have been some eminent successes E M Estes, present GM president, is an alumnus as was his predecessor, Edward N. Cole. Even while he was still a student at the institute. Mason wanted to get into marketing Nevertheless, he stuck with the engineering department for a couple of years after gradua non working at Chevrolet assembly plants in Atlanta, Ga., and Willow Run, Mich. In 1907, he seized a chance to go into the Philadelphia Zone sales organization where he subsequently became district sales manager Since then, he has held several positions in the Detroit offices and has been assistant zone manager in Birmingham, Ala. and New York B another as we are now doing, ONeill told the opening session Sunday of a three-da- y conference entitled, "Alternatives to Growth 77. ONeill told the gathering of business, scientific and academic leaders the nation must permanently lay to rest what he called an antiplanning attitude O Simple Wills $35 00 No cKorpo for initial consultation. that has dominated our thinking for the past " Information IB regarding other types of cases furnished on request Massachusetts The DICK CALCSa Democrat said Congress has taken some steps to improve its planning flexibility, including creation of the congressional budget office of technology assessment. ATTORNEY AT IAW uite IOI4 Kearns Bldg I J6 South Mom Street Snh lake City, Utah 841 10 1 Phone (SOi) 531-14- 1 , 50 Estimates for Tuesday Cattle and calves 4,500; hogs 3,500, sheep 600 B'isto Cnyinds ChaCcm Clavon CombMef Comet Comstock ComTelinr Croft Cmwn CrsOII Oftgon FasUitah eurStanJ did Ask to n n 1 87 82v, 50 13 3 3Vi 704 80 06 19 07 47 )? 62' Protected Bank clearings 90 08 .57V Monday's quotations Today's clearings Same day last year 21 55 $165,952,420 07 $i22,48,747 58 18 12v 41 17 42 50 55 The Best Bargains are in today s 22 up to $10,000 WANT ADS! 8 ON $500 FOR 3 10 5 7,50 ON 7.25 ON 6 $250 $250 FOR 2 FOR 1 i YS Y3 ON REGULAR SAVINGS Accounts protected to a maximum of $10,000 by Industrial Loan Guaranty Corporation of Utah, a private corporation The view of downtown Salt Lake City is spectacular from Emn Summit which is not an instrumentality of the State of Utah or of CONDOMINIUM only one block north from Temple Square1 the Federal Government Certificates redeemed before maturity still earn at ouY Reg ular Savings rate, from day-i- lo Temple Square Imagine being able to waik from your condominium-homrestaurants office theatres ZCMI Center, The Sait Palace, maior buildings at Zion the This what res'dents is and a host of other downtown facilities too1 You can, Summit Condominium are enjoying of floor We have a number plans ranging in size iium 200 tu 24b0 sguaie feet With underground parkirg and closed circuit TV at .he entrance, security is maximum Amen ties such as party rooms and swimming pool are many Prices start at $52,300 a m til 6 p m Come see our elegant models We re open cailv e n to Available to all VHILE YOU WERE our ly day-ou- t individual-corporatio- ns and orgamza PADS tions residing in Utah TELEPHONE FOR DETAILS ono QQc W pink Pads OFFICE SUPPLIES, MACHINES & FURNITURE 46 9-- 6 Mon.-Fr- i. 9-- 2 Saturda- FAYETTE AVE. J y- JJ MAIN H I Inn Ramoda of (Wsf Av.) J On Q i 976S. L. 1 I 7 5UPfJ cm I -- 1 2 COMMERCIAL CREDIT PLAN 'INCORPORATED Sai Lake Citv Grange- - 252 Eabt i.46' W 3juJ S ,8 Tu.rj 9b t M T--T" CONDOMINIUM One block from Temple Squaie at 0. Second North and Main on Vine Street i 344 Murray Fashion Place Mali f ? S b Provo 23b N University Ave V ( LHlZ Ogden 2618 Wasriington Bivd j'j! 41 Cedar City Ti W Center Lot i, 1 lorrbimmtil COMMERCIAL CREDIT 1 A. gAvrr 1 ji S t , Phone 322 5C01 5. U iW A j m $ development of the Busch Corporation i I |