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Show 5 aqir,8rti Car 'Bargaining' eel red A AA ust- ii I Si! s'yww'' L s. VwXv By WILLIAM B. MEAD -WASHINGTON (UPI) Ford Motor Co. argued today against changing automobile pricing practices under which, it said, most new cars sell at 17 to 21 per cent less than their sticker prices. price in the be automobile industry the exact price at which cars John J. Nevin, are sold, Ford vice president for marketing, told the Federal Trade A suggested Commission in CFTC) pre- pared testimony. In some substantial measure, it must continue to be what the Congress intended it to be when it passed the Automobile Information Disclosure a creditable refAct of 1968 erence point from which bargaining can begin, he said. Nevin testified as the FTC opened public hearings on its proposed rule to make sticker prices the manufactur ers suggested retail price, required under the 1968 law be within 3 per cent of a level at which substantial sales are actually made. His testimony closely paralleled points made by General Motors Corp. in' its written statement to tire FTC. GM said the proposed rule would lead consumers to be- lieve that t.ie existing sticker price is the fair and reasonable price, and that the purchase of autos, like purchases in a department store, are no longer subject to bargaining. Both firms said prices vary widely from model to model, season to serson, city t ' city and dealer to dealer, making it impossible to pinpoint a nationwide right price. But Rep. Benjamin S. Rosen- thal. argued that the should be FTC proposal strengthened. He said the 3 per cent allowance permits The Sharp Micro Electronic Calculator "The 3 -- lb. genius" 8 the perpetuation of fictitious sticker prices, although at a substantially reduced level. Roserthal called the auto industry a malignant monopsaid the dominance of oly, three huge firms hurts the consumer and the nation, and urged more drastic action against auto makers. Nevin however said auto discounts are so widespread and widely known that consumers are not deceived. I Today, over 59 per cent of the cars sold in the United States carry discounts that range from 17 per cent to 21 per cent, he said. The discounts . rise with the value Imports,anddom H i - . . tend to of the car. estic sub- compacts compacts generally use a 17 per cent discount; sporty compacts and intermediates generally use a 21 per cent discount, and the more traditional standard size, medium price and luxury cais generally use a 25 per cent discount, he said. Robert McElwaine, executive vice president of the Volkswagen American Dealers also expressed Association, opposition to the proposal in prepared testimony. vrVvV'.s , W ', wA6WAWtiivivAiXv.VA6k B .& ty .v &..& ?Hvi5s . 1 avN V ' V.S a. The liberalization of busl-neax law by the Nixon Ad- c- ministration received midly enthusiastic response in the Antitrust Suit Facing Kennecott WASHINGTON -(UPI) The Justice Department Monday accused Kennecott Copper Corp., the nations largest domestic coppei producer, of using illegal reciprocal purchasing arrangements with various suppliers. Attorney General John N. Mitchell announced a civil anti-trusuii was iiled in U.S. District Court in New York City simultaneously with a proposed consent judgment which could settle the suit in st 30 days. The government charged that since 1956 the New York City firm has entered into arrangement with various sup- pliers to restrain trade by reciprocating purchases in of the Sherman violation Act. also changed that Kennecott had used its purchasing Anti-Tru-st It that . . . power to promote sales in an attempt to monopolize the requirements potential of actual and supplier-custome- for products by the com any. Kennecott had of more than $1 billion in 1969 and assets of more than $1.6 billion to rank as the nations 11th largest corporation. s of the proUnder posed settlement, Kennecott would be prohibited from purchasing products or services from any supplier on condition that such purchases will be based on Kennecotts sales to the supplier. The suit is one in a series brought in the past two years of the Nixon administration to break up practices of reciprocal purchases. Most have been brought sales SAIT LAKE CITY TIRE AND SERVICE CENTER 133 Eat 4th South, 3554M8. out 581 or 582 Open daily 8 o.m. to 6 p.tn., Monday and Friday to 8 p.m. Convenient Credit Plan Welker Bankard Accepted SHOCK ABSORBERS FLASH! d Units Have Jest Arrived! INSTALLED ORIGINAL EQUIPMENT Fits In Your Briefca.e CAPACITY 2 TYPE - AUNE 14 INSTALLED Mountain West. We probably wont ?e any significant effect until 1972, -- said Dr. J. Whitney Hanks, professor of finance ard economics at the University of Utah. Spending for new plant and equipment has been high, but it Las lost growth momentum since last summer. The tax change is intended to give additional inducement to businessmen to invest n new he plant and equipment, said. te'-m- g against the steel industry. The tax change wont be a big factor in our area, but it will be a morale booster, commented Dr. ElRoy Nelson, First Security Bank vice president and economist It could increase sales of machinery manufactured in the Mountain West and should help our reel and copper wire manufacturers, Dr. Nelson said. Livestock Market Computer Business Machine Co. New Executives Of BBB Named Affects .A Vi:','. Utah Mildly Tuesday, January 12, 1971 adds, subtracts, multiplies, divides, floating decimal. Jattery-Operate- Tax Spur 4- s John B. (Jack) Lake Monday was elected president of the Better Business Bureau of Salt Lake City for 1971 a yea- - that is expected to be a critical one for the consumer -oriented agency. Lake succeeds Ik. old t, East 2nd South Salt Lake City Phone 322-124- 9 1. Do you know how hedging can Getting its computer operation under way in 1966 with in new, young personnel charge enabled the New York investment firm of Thomson and McKinnon Auchincloss, Inc. to sail through the recent stock market crisis. Instead of closing branch-- j es. we were able to expand during the past two years, said William E. Ferguson, president of the firm. He was 23 help raise profit margins? 2. Do you know how hedging can help expand bank credit? 3. Do you know how to cut hedging costs? hlefers: Choice 27 30; 1 tSTSTt The company began its expansion in 1969, when it acquired the New York and Philadelphia offices of J. W. Sparks and Co. In Feb. 1970, 15 more offices were acquired in a merger with Auchincloss, Wash- ington, D. C. bad a great ambition to get into the West Coast so we acquired 10 western offices and one additional mid-weste- rn of officer formerly part Blair and Co., Ferguson explained. The Salt Lake office of Blair thus became part of the Thomson and Mckinnon Auchincloss, Inc. with James A. Gamble as vice president in charge. measurer. Lake is owner and president of Midwest Office Supply Co. He has served on the board for four years. A native of Salt Lake City, he worked for American Paper Supply for 19 years and before that was general sales supervisor for the Coca Cola Co. here. Grain Futures 0 Choice fb 9 canner and cutter 16 bulls 24 and choice slaughter 80, and commercial 29 25. Feeder steers: lb 28 good good lb calves 30 0 few 25; good lb 26 6 9 9 70; 40 calves individual 25; choice calves 28 00; standard and 0 27 00; lb Hoistems lb Holsfpns lb Holsteains 23 70. tb Feeder heifers choice 26 75, good good calves 27.25-3- 0 50C 700 lb 24 20; utility and commercial feeder cows 17 0020 20; few youns cews 19 3 00; choice mixed foed calvy stock cows 212 50 per head; good calving cows and neifrs 183 per head, few choice pairs 230 00. 17 000; OMAHA Hogs lb barrows and gilts weighting 50 1 000 lb weak to 50 lower; lower; 50 head 2 near 210 Id 16 25; 3 lb 15 lb 00; 15 1b 50? 5 lb 14.50-1- sows 5 00? 14 CHICAGO (UPI) Produce; Cheese 5 lb processed loaf 601'?47i'3; brick 6044-7- 1 ; Muenster 6044-7Cheddar Single daisies longhorns 638; 40 lb blocks 60l266 Swiss (wheesl) too few to report; (blocks lb) Grade A 69fe ?5Va; Grade B 684724; Grade C Potatoes Total shipments 428; arrivals 40; track 74; supplies light; demand moderate? market for reds about steady; market for russets about firm. Track sales (100 lb US. Idaho Minnesota-Nortrussets; Dakota Red River Valley round reds natural color. Onions Total shipments 62; arrivals 4; track 12; supplies light; demand good; market slightly stronger. Track sales: 50's ldaho-Orgo- n yellow Spanish large 2.753.15; white mediums 3.25. Butter Prices paid delivered to Chicago steady. 93 score 69 784; 92 score 69.784; 90 score too few. Eggs: Prices paid delivered to Chicago barely steady to weak; cents per dozen (60 per cent A or better): Jumbo extra large white J9V?-4large white mediums standards too few. Prices to retailers (Grade A, In cartons Extra large ; large delivered): mediums 39'241Va. Markets In Erief to 25 50; weak lb 11 50 13 00. lower; 30-651,5CC 11,600; 10,000 slaughter? Cattlg 0 feeder? calves 200; steers lower; heifers 25 lower; cows 50 lower feeders fully steadv; high choice and 11 001,20 lb steers 28 8 50? ?7 95.29 no? low and good 4 hioh ch,'e e"d prime 5? 9'0 1 00 lb heifers 77 2 85? lambs 24 u 2 7 98; n'vxt choice slaughter low and cows grade 22 50; choice 98; tifilitv rv commercial choice '9 1 00, few at 21 50? canner and cut-- lambs 25 50 0 Quotations 9 utility good 6 Tuesday's 20. 9 lb Mfer 0 lb heifers In 60; calves load lots 2 3 85; choice lb steers 37 37 70; mixed good and choice 325 455 tb steers 34 feeder cows 1 18 mixed good and choice 20; 00 per head. stock cows 180 OGDEN (AP) Cittle and claves 550, including 25 calves; compared to 425 last week. Slaughter cows mostly steady, bulls firm, feeder steers over 550 lb higher; steer calves scarce, hardly Calves- - 21.75-2- We Other officers elected were V. Cracroft- - vice president, and A. J. Schoer.hals, 60. 6 Feeder 3C.60-3- 2 IE B. Lake . . difficult job L. NORTH LAKE Producers Jan. 12, i97i Livestock Market Wednesday auction); Quotations from the NAsD art rtprese Cattle 1,068 head with about 250 head nativa prices as cf 1 yet to sell after 4 o'clock; narket acpm markets tive; good attendance of both feeder change throughout the day. Prices do aid packer buyers; cows sold at fully notinclude retail markup, mar' down or steady prices with some strength on commission. cutter and earner cows; slaughter higher; spots up 1.00; fed steers and heifers higher; all classes 0 of feedjr cattle strong higher wifn exeeotions of Holstein feeder sreeers which sold steady. Cows: Canner and cutter cows sold mostly from utility cows 19 slaughter bulls 26 9 60. 7 Fed cattle: Choice lb slaughs ter ste-- some with tag dock of 25 lb per head; for mud 28.10-2- 9 20; choic 7 Fed cattle: Choice lb slaughter steers some witn tag dock of 25 lo per head; for mud 28.10-220; 7 9 choice lb 20; good to lew choice 27 5 lb 30; standard o low good fed Holstein 8 steers 23 50; choice lb slaughter reifers 27 7 60; flood to low choice tb 2627 20. 3 lb in Feeder steers: Choice lead lots 30.40-330; 777886 lb fleshy lb feeder steers 28 50 79 40; oood 7 26 Holstein steers 40; feede visiting the Salt Lake branch at 80 S. Main, Monday along with John J. Maloney Jr., New York, executive vice president and David H. Bra- tesed Feeder heifers steady, heifer calves zil, Sa; Francisco, vice presiand not tested. Receipts Included dent. The executives left Mon- scarce 250 slaughter cattle, remainder fedeer. Slaughter classes few good and low day evening for Boise, Idaho, choice lb steers 25.80 26.80; to visit the companys new of- derd and good tb Holstein 30? steers and qood fice there. lb heifers 24 00? utility cows Parker and Redpath, . Over The Counter 7 Save $6 to SI 6 depending on quantity. John SALT Saved Stock Firm ! Colli-pries- who guided the BBB through a period when there were not enough funds in its accounts to keep it operating. The same situation is expected to prevail this year, unless the BBB lncrea.es its membership and gets more financial support, said Robert Murray, outgoing treasurer. The BBB, although it deals mainly with consumers, is supported by businessmen their membership through fees. The problem is that membership receipts have been less this year than they were last year by about $4,000. said Collipriest, who blamed the decline on the slowdown in the economy. Collipriest said in BBB had reached a saturation point in its handling inquiries or complaints. In order to handle any more business it would have to expand its ODeration, he added. During 1970 it fielded 24,900 contacts with the public. 0 SALE ENDS SATURDAY 1 Tuesday's Quotations By United Press International Stocks Higher in active trading. Bonds Steady. US. government bonds Higher In moderate trading. American stocks Higher In active trading 00; load same Lower London stocks and prime shorn Cotton futures Higher. 23.C0-2- 3 SO. Higher, Chicago grain futures T11"!11"! Fmi"""'? Lan you answer these three questions about hedging in commodity f fu- tures? If not, you need our new booklet, The Hedgers Handbook. It not only explains how hedging works and how to apply it to jour business, but bow hedging can help cut inventory costs, conserve working capital, expand credit, and sharpen procurement and marketing. The Hedged s Handbook is available now from the worlds largest commodity futures broker, Merrill Lynch. For your copy, send the coupon today. No cost or obligation. "i Free: The Hedgers Handbook Mail to: Merrill Lynch, Commodity Division 70 Fine Street, New York, N.Y. 10005 Please send, without cost or obligation, your new booklet. The Hedgers Handbook. Mr.. . . . skillful, (Please print). Address. .State. City If you want to see a pro at work, watch for IML. Every IML driver is a qualified professional teamster .Zip. Telephone. Type of business. Most of our drivers have driven hundreds of thousands of miles without even a near miss. In fact our trophy room is overflowed with safety awards won by the IML pros. Across the back of IML trucks youll find the slogan . . . Safety First Then Proceed. Its more than just a slogan, however, it's our watchword. We wish that more drivers would follow the example cf MERRILL LYNCH, PIERCE, FENNER 2 ZZ3 EZZ3 E2 & cautious, and courteous. IML, THE SAFETY LEADER. SMITH INC 23 E2 EZZ3 EZZSti 6 FREIGHT INC. One of America's great transportation companies. t 9 II |