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Show Car linisiuirapseUp, Up By LEROY POPE UPI Business Writer NEW YORK (UPI) - Annu- insurance now costs many motorists more than the market value of their cars. . The $1,000 a year premium is commonplace for penalized drivers in the big cities. Rate tables of insurance companies show the possibility of premiums as high as $7,400 in Philadelphia for minimum protection for very risky drivers! Of course, no one is really paying $7,400 for minimum insurance, said the Insurance Information Institute. Its just a. statisticians idea of how much a company would Ir ve to charge certain risky drivers. An study made al automobile L . J ' 4 C sv V. s 7: 4 - A ' '"3 4: $ ? H - V g 8 t 4 sy ematics, a Princeton, N.J., research bureau, said rates will keep going up. problem, the Mathe- matics report said, b that property and casualty insurance is a service business that has not found any way to in ; "t Tuesday, recently for the American Insurance Association by Math- The s IBl s 4 s Vf Z v.5. December , 15, 1970 crease its productivity. Its costs keep going up and up. It also is tied to the medical hospitalization and auto repair business which also have been unable to increase productivity to offset spiraling wages and other cost increases. cited several Dennenberg priority areas in seeking ways Shopping Centers Come On Fast - LookNEW YORK (UPI) out, suburbia and exurliu, the shopping centers are coming on faster than before. The international council of shopping centers, in a presentation before the New York Society of Security Analysts Monday, said another 12,000 shopping centers, requiring an annual invetment flow of $4 billion to $6 billion, are going up in the next 15 years. This will nearly double the lo, 000 shopping centers now operating with more tnan 200,0000 retail units, the coun- cil said. Howard second of Connecticut General Life Insurance Co., said insurance companies find shopping center investment safe and profitable. N. Nielson, vice president i Found Mine, Group Claims A lower insurance rates drunken driving, reducing automobile theft and demanding better automobile design from the industry. Noting a congressional report that insurance companies are being stuck with $8 billion to $10 billion a year for padded repair bills, he said the Pennsylvania Action Committee for Highway Safety, of which he is a member, is demanding of all automobile licensing to , && 1 CORNER ON COMMERCE 1 curbing damage appraisers. The mathematica report said the proposed no fault insurance plan could increase the industrys productivity only to the extent that it would reduce legal costs and avoid court delays in major claims. Both Dennenberg and the Insurance Information Institute said that the sales cost of auto iiuJurance cr.n be reduced substantially by selling policies deductions. through payroll Automobile insurance cant be underwritten on a group actuarial basis like life insurance, they said, but if an agent can sell large bloc of policies to be paid for by payroll deductions through a company or a union, the selling cost does go down sharply. This is already being done. mountains since its owner was killed by Indians in 1881. After 13 years of research, the Orlando team went to Arizona recently to search a canyon they believe contains the legendary mine. Sunday, Steen claimed they had found mineral samples which indicated considerable guid content, but a range deputy scoffed at the idea. There aint a thing to it, said Amos Hawkins, 64, who has prospected in the area for 52 years. I've never seen anything in there that indicated any gold at all. and I rode down that canyon many a time. A group ORLANDO, FLA. Orlando men claim they have found the fablod I,ost Dutchmans gold mine in the wilds of Arizona, but a veteran prospector scoffingly says its much too soon to start a gold rush. Amie Steen, an Orlando contractor who helped back the gold search, said Sunday three members of his team think they have found the mine about 40 miles east of Phoenix. Ho said they would file a claim for mining rights to 100 acres of federally owned land. According to Western folklore, a $10 million gold mine has been lost in the rugged of X six-ma- n Hip Pouring Giant Helping Geneva Works Open Hearth pouring crews, at Orem, during a recent seven-da- y period, experienced only one defective poured ingot in 2,670. The accomplishment is a team effort including the pouring crews, ladle lining and stopper crews, iurnace crews, ladle cranemen, metallurgists, ceramic engineers, mold preparation and maintenance crews. Genevas pit crews consistently attain high efficiency pouring records striving for Errors Zero workmanship. Kaiser Gypsum To Close Plant OAKLAND (UPI) Kaiser Gypsum Co. - said will close down graduauy and stay closed until business The Mon- day it will close down a plant in Rosario, N.M., because gypsum prices are extremely poor in the southwest. A spokesman said the plant, which employs 37 persons, Production will stop by the new year and the plant will be shuttered when the stocked gypsum inside is sold, he said. Boise Cascade Opens New Mill BOISE, lize the timber available. The new plant will manu- Boise IDAHO Cascades new $3 million plywood mill at Emmett, Idaho, on will begin operation 4. the company lumber-plywoo- t If he wants the convenience of having us hold his securities, well be glad to do so. In that case, the securities can stay right where they are. As part of the acquisition, weve put enough capital into Goodbody & Co. Incorporated to more than meet New York Stock Exchange requirements. And one of the best guarantees a customer has about the safety of securities left with a brokerage firm is the firms financial strength. When did the acquisition take effect? We started working on it' in the early part of November, but it wasnt official 2.- until December 11th. 3. What if a Goodbody customer wants to buy or sell stock? He calls the usual Goodbody number. Hell probably get the same broker hes been dealing with. (Some Goodbody brokers are leaving, but we expect most of them to stay.) When a broker does leave, well immediately assign an experienced representative to take his place. In any case, Goodbody customers will be able to use the facilities of Merrill Lynch, including our $6 million-a-yea- r research operation. 4.- How does the acquisition affect Merrill Lynch customers? Not at all, except that many of them now have a wider choice of convenient offices. This has happened because Merrill Lynch customers are now welcome in Goodbody offices, many of which are in places where Merrill Lynch had no office. to at Hotel Utah. because of his Aspinall, wide experience on public land matters, is termed an authority and a friend of stockmen. He will be in a strategic position when legislation is considered to implement the Commission's recommendations, Aagard said. City, chairman of the convention committee, said that all residents of the Intermountain Area having interest in public Livestock Market NORTH SALT LAKE Market .Livestock auction): (Monday cattle? slaughter and feeder cows fully bulls steady; feeder slaughter steady; heifers strong 1o .25 higher; feeder steers weighing over 600 lbs strong to .50 higher; Cows: canner and cutters sold mostly from utility and commercial ? bulls slaughter Fed Cdttle: choice 995 to 1100 lb slaugh-te- r steers good L005 to 1,235 lb s.andard to low good fed Holstein steers lb steers: choice Feeder Can Merrill Lynch afford it? Yes. Our total investment in y isnt more than a small fraction of our net capital. Heres a summary of our 5.- Good-bod- lb 700 good and low choice lb choice and prime choice good and ? mow choice utility and com- ? canner and cut-ta- r r- .iercial cows lb feeder choice s.- eers 27.50; choice 950-l- b choice 440 lb feeder heifers 3?.00; 2 choice 7t heilers 26.15; lb 1,000; lambs mostly steady; Sheep was steady to weak; choice ana prime choice and lambs wooied prime shorn lambs 24.50; choice and prime 22.00; cull to good ewes to lb mixed good and choice to 765 'bs Holstein feeder steers Feeder heifers: choice 489 to 598 lb 615 to 68v lb fleshy 754 to 773 lb good 560 to 640 lb 940 555 financial condition as of October 30, 1970. Current assets: $1.8 billion, including more than $59 million in cash. Over The Counter Dec. 15, 1970 Quotation trim nasd are represeiv ative Inter-dealprices as or approxii r market p.m. mately to change throughout the cay Prices oo not to include reiaM markup, markdown or Calves: mixed good and choice 265 33.25j38.75? good 380 choice 320 to 470 lb feeder cows mostly with 3-- and thin fleshy feeder cows to 23.20. 440 lb 4)0 lb heifers Capital stock and surplus: $283 steer calves OGDEN (AP) Cattle and calves 650, including 150 calves. Slaughter classes fully steady; feeder cattle fully steady, good and choice yearling steers in short supply. Slaughter classes: standard and good lb Holstein steers few good heifers utility and commercial cows few young individuals canner 22.10; and cutter cutter and utility bulls individuals weighty 5 few choice 29.60; lb slaughter calves Feeder lb steers: choice choice lb 31 b individual choice lb good calves good 25 standard and geed )b 25.00-2Holsteins 00; lb million. Our net capital is more than twice as much as the New York Stock Exchange requires. ( As it has been throughout the bear market.) Wed be glad to send you a copy of our latest financial statement. 6.- employees. Aspinall, the Public Land Law Review Commission, will speak at the morning session of the Utah Wool Growers annual convention Jan, 8, 1970. Wesley Aagard, Salt Lake Producers Its up to the customer. lion sq. ft. of exterior sheathing plywood annually from approximately 40 million bd. ft. of logs. The plywood mill when operating at capacity, will employ about 140 hourly Aspinall To Address Wool Growers Wayne land matters are invited Congressman attend the meet to be held Colo., chairman of Merrill Lynch answers 6 questions investors have been asking about our acquisition of Goodbody & Co. What will happen to the securities Goodbody is holding for its customers? 90 mil- facture approximately Janu-ar- y announced. The Emmett and Barber sawmills are being converted d into an integrated complex to better uti 1.- up. picks Why did Merrill Lynch make this acquisition? Our basic reason was to protect lb 23.7525.10. Feeder heifers: Choice choice lb lb ib in good slaighter few choice ; Ib flesh good sene geed utility standard, 20; geed and choice feeding cows, 18.20-2first cal hei'ers 180.06202.50 per head; few good and choice mixed age calving 0 stock cows per head. Goodbodys 200,000 customers. We were also concerned about how the failure of the countrys fifth largest brokerage firm might affect all investors. The New York Stock Exchange shared our concern and asked us to help. They offered others the same opportunity, but Merrill Lynch was the only firm that came up with a workable solution. However, theNewYorkStockExchange membership joined in the effort by voting to guarantee Merrill Lynch against certain kinds of losses up to an aggregate - fAP-U- f OMAHA Livestock quoDA) 12,000: barrows tations Monday: Hogs and qilts steady to S' lower; Ib Ib Ib 14.0015.00 ; 5 Ib Ib sows SECURITIES 11.00 80.00 10.75 5.62 1.00 7.25 12.50 18.00 2.(0 8.25 8.25 32.00 16.00 4.75 4.00 2. CO Amerbavmgs&ln AmsrWesternLite AnelluxSystems AroenMayfair BcncSldLife BchemiaLurnber BonnevilleSyivan BrewninqArms ChillonCcrp ComiShearinq ContinentalBank DASACorp DataDesign DaiarcnPrccessing DenverRe-aicstatEquiyO'l FirstSecCorp Firsts cCcruDfd FirstWesternFin GfloxyOil GarrettFrieqht 5.00 4.50 2 25 5.50 1.- 36.50 49. CU 2.75 2.62 22.CO 5.1 7 P7 3.25 lntTntnGas 9.67 10.25 Mignalnvec-men- 5.00 3.00 87.00 1.75 11. 5 t Maanolnv6-7- M'ClnvCorp MorrisonKnudsen Mt(jTru:lofAmer AlnTrustofAmerWTS NatlAmerLHe NatlWestmLife NorthAmerRE NWGas NewDortPharmlntl PacEnc&Prod PRCCorp 85.00 1.50 10.75 19.87 3.75 .87 3.87 1.75 9. CO co 2.12 ZCMI 20.25 4.12 1.37 4.25 2.25 9.37 r 18 75 2.50 4.75 350 ?5 1.75 3.87 1.87 1.27 3.50 .00 3 f0 5.75 8.1? 3.13 3.87 2.- 5. CO 4.00 8 58 1.6? 4.12 5 1.V0 10.00 11.00 17.75 3.00 1 ' peg 2.50 nro ?roo 2. 09 27X0 2.C9 4.87 3n no 14 75 12.50 1.75 n oo .75 17.00 14 11 Cash Grain Tuesday's Quotations CHICAGO :UPI) Chash grain sales: Wheat No 2 soft red unchanged; 1.7C4n. Corn unchanged; No 2 yellow 1.52; No 3 vellcw ; N'1 4 yellow Oats unchanged; No 2 extra heavy white .8 34n. Rye unchanged; No 2 plump 1.25n. feed .95-- .C5n. Barley malting Soybeans inchoroed to r? cent lower; Nr. i wncw 2.91' tyo 3 yellow 2.77V:, ail Chicago tvgh rate. A new low cost returned, were even better equipped to handle the business and give all our customers good service. Whether they want to buy 10 shares or 10,000, Homeowners Package Policy Protects your home fire, windstorms, explosion, theft, bodily injury, property damplus a age claims debt - free home in case of death. MERRILL LYNCH, PIERCE, FENNER 7C & SMITH INC Inquire now. PINE. STREET, NEW YORK N. Y. 10005 NSUMVaiCEK i C0 10.00 4.. 4.75 HyrircFlame loecINatl WalkrBankiTrust Z'onrFirNatl $100 million in improving customer service. Now that higher volume days have 16.75 s Hjollhlndo-trie- Amcor ValtevBank&Trust VVIevNatlBank ViatrcnComputer Vistalntl recent bear marketfrom December, 1968, to June, 1970 we invested over 1.75 7.62 13.25 18.75 2.50 8.75 8.75 34.00 .75 9.50 35.75 47 .CO 2.50 2.37 20.00 MedDvCorp SPECIAL RATE December 10th thru January 15th 11.50 6.12 9.0 Emdekolntl 0 Ib Steadv to 25 lower; Cattle 8,500; slaughter 7,5C0; 1,000? calves 125; steers and heifers Reserrchlndustries steady lo strong, listener-'- . 2' higher; eews fully steady; feeders steady choice RcyalExcInns lb steers 27.00; Schottlnd ang prime Scr.tineiSecuritv SMverKinaMineNev SkylineOil SMC Investment ScuihwestResearch SuretyLife Tr Communications Teiemattonlnc of $30 million. As a matter of fact, helping the individual investor is something weve always tried to do. We built our business that way. Even during the worst of the Asked 12.00 8itf Altrlndustries AmalSuqarBonds If SAIT LAKI CITY 465 East 2nd South 359-206- 2 |