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Show Wifilh By JOHN CUNNIFF Pay increases have been large, especially in construc- years ago, Katona says, they generally give themselves full credit and forget that inflation may have played a role. They commonly refer to their own efforts, to increased and ability, and to progress in their careers rather than to inflation or to 10 - NEW YORK (AP) With Inflation underlying almost all other problems of the nation today here is a brief report on how Americans are dealing with this cardinal sin of economic management. The following may sound preposterous, but it was uncovered by Survey Research Center of the University of Michigan and related recently by Dr. George Katona, director of Its Economic Behavior Program. When survey respondents are asked why the) are making more money than five or tion. Last yeir the median hourly wage increase for all ndus-trieas extracted from 2,819 agreements studied by The Bureau of National Affairs, Inc., was 27.7 cents an hour, or 5.6 cents higher than 1969 agreements. For construction, however, the median was 90.5 cents, and the increase over settlements made a yeer earlier w'as 20.3 cents. The big increase continues a trend that appears to have developed on 19C7, as judged by BNA figures. s, activities by the government or trade unions, he reports. is inflation Therefore, viewed as bad even by people whose income rose much more than prices advanced. Inflation detracts from the satisfaction with W'hat is seen es fruits of ones labor. d A review of the recent record of wage increases for all industries shows a median of 8.5 cents in 1965, 11 cent, in 1966, 18.5 in 1968 and 22.1 in How To Cut Oinif? The Inrtitute of Life Insur- more protection against inflastandard than plans, which are geared toa fixed return. Instead of guaranteeing the owner a specific return for a specific period, a variable annuity offers him an amount that may fluctuate with the stock market or the cost of most tion 1969. The comparable figures for construction are 17.5 cents and 19.8 cents in 1965 and 1966, respectively. In 1967 the median increase jumped to 34.9 cents, to 49.6 in 1968 and living. The variable ance reports that the number groups which set up variable benefit plans by the beginning of 1970 more than doubled from the previous year. of total of 227,000 Americans were participating in 3,849 variable plans in which funds were invested in equities, such as stocks. Another 140,700 were in plans with payouts geared to the cost of A annuity con-ceinvolves some risk, because the funds often are invested in stocks, but many to 70.2 cents in 1969. of persistent Recognition inflation is showing up in insurance and pension plans. Americans are buying more variable annuities, which are or pension programs that tend to offer pt living individuals planning for their retirement feel the risk is worthwhile if they at least have a chance of outwitting insurance ndex. Even greater numbers are expected to become evident once final figures for 1970 be come available, the Institute said. inflation. CORNER ON COMMERCE I m sure -- of tatting our great Shills many of us, Sitting round Steel Firm Cuts Increase who cart trdy beat the mins wry of cun maker said reducing to be competipi ices in tive with other producers. o-- Monday, January 18, 1971 B --.fhotojur companies mutual success I merge mto. one big, 4ll Election of Calvin W. Jeppson as vice president and assistant to the president of First Security Bank of Utah, N. A., was announced by Harold J. Steele, president. Jeppson has been with First Security since 1961. He served as assistant manager of the banks Mt. Pleasant office for six ears and since 1968 has been supervisor of operation and personnel for the 19 Southern Utah diviMr. Jeppson sion banks. Nine Carloads Of Tissue top. Oil for an. band of we Mother-s- that! e Co.s k BMVtrbreeit KmMms Lid. M79 A al u J-- esi-den- V1V4 vt 7l V one-fourt- h 7 '4 ' general, it wilLbe the third cut this month. becomes their prime lending rate today of use by another 6 sevto cent cent and per per eral smaller banks elsewhere quickly followed their lead. t v 4 U V4 3 3'4 - 4- Major banks had cut the rate charged on loans to their biggest corporate borrowers to 64 per cent from 6 per cent only last Friday. If 1 0 d a ys reduction 4 fc'J 74 4 4 Vi- . -,3 Cut Prime Rate The latest move was initiated by Morgan Guaranty Trust Co. Chase Manhattan Bank and Chemical Bank, both of New York, went along within an hour. The sliding prime rate Is expected by financial observers to eventually result in lower rates on mortgages and consumer loans. & Pennsylvania Banking Trust Co., the biggest bank in Philadelphia, was among the early followers of the New York banks drop to 6 per cent. Others included American National Bank & Trust of Commerce Union Chicago, Bank of Nashville, Tenn., Southwest Bank of St. Louis, First National Bank of Atlanta, and Western Pennsylvania National Bank of Pittsburgh. -- 4 . Thiokol To Operate Day Care V 4 7g SALT H -- i- 7Va U LAKE . A Vi 14 Mar-quard- 4 Banner Bristol BullMon CanyonLnds Cftcmp .... -4 4 Clayton ColoCons CombMet Comet Comstock ConsEur 1V4 h 4 1i Vern R. Burton, Ogden Division general manager has overall responsibility for oper-atio- n Crescent 14 3i-- Croft Crown Dragon Vl: 4 34 34 of the EastUtah 4 Vt 54 Over The Counter -- tf Z3 4 74 3 January II, 171 native Inter dealar prl Oes as of Inter-aaeimarkets 1 p.m. change throughout the day. Prices do '4 '4 H ? 7 H 4 notinclude retail commission. Ni 4 H 314 rl ' - markup, Securities Aita Industries AmalSugar3onds Amcor AmerSavinqs&L Va V4 The Thiokol EDO organization, led by Thiokol group vice t, president Robert L. also operates day care child development centers in Washington, D.C., Roswell, N.M., and Atlanta, Ga. Quotations Monday's 4 Al STOiK EXCHANGE A AmerWestlife AiYtlluxSystems ArdenMayfair BeneSttfUfe BohemiaLumber BonnevilleSvIvan BrowtiingArms ChiltonCord ComlShearhq CcniiBank DasaCorp Data Design DataronProcessing DenvtrRealEstate FitSecCorp Firstf'rcCorp pfd FirstWesternFin GalaxvOil GarrettFreiqht Healttiindustries HydroRame ld?alNatl tntermtnGas Maana Investment AAaqnalnv MedDevCorp MicInvCorp n Worrison-Knudse- MtqTrustofAmer AUqTrustofAmer NailAmerLife or 3,000 at 23c. Vermont program. Financial and administrative support for the Vermont Produce Market Livestock Market - ANGELES (UPI) Weekly sum mary feedlor and range sales tor week ending Jan. 9; last close week's with Compared slaughter steers 2550 cents higher; no tests on slaughter heifers. Not enough feeders to confirm fully lest price lb trenas. Slaugnter stees choice and choice mixed good ib lb 27.7. 29.00, good standard and good 1.050 Ib 26.50. All four current delivery 4 per cent 0 shrink F.O.B. Feeder cattle choice steer calves 38.00. Current delivery F.O.B. weighing point. LGS Livestock: CHICAGO Cattle 8.000. Calves none. 3tau9riTer steers fairly active; steady to 25 higher; to heifers active; moderately steady wee-k- ; bulls to strong; cows steady steers prime steady; slaughter 1 load 31.00; high Ib No Ib choice and prime stangood choice ; slaunhter dard and lew good Ib choice and heifers high prime 1 load at 29.90; choice No. mixed aood Ib No flood and choice cows utility and commercial bulls utility cenner and cutter and commercial Sheep 100. A deck choice 111 Ib wool slarightp' lambs 24.00; short deck choice and prime 119 Ib 22.43. Emdakolntl FqtrfvC D markdown SALES Bristol, 1,000 at )3c BvllVon, 5,000 at 22c; LoveOil, 2,000 at 37c. SoStand, 500 at SOc. TlnticAAin, 1,000 at 35C. Triton, 300 at 1.25. grade A 69V3.75'2; grade B grade C ,,7i?TAT?ES..TS!a' shipments 44 6, w; deman flood, market banks steady; for round reds slightly; a,e-I(100 Ib US. Idaho ,rac SplSt PRCCc.- - RovalExecInns Schottind SeminelSecuritv Silver KinoMincNev W!nOil Telecommunication Telemationlnc ValleyBank&Trust ValteyNatlBank ViMronComputer Vista fntl WaikerBankUrust 2CMI ZionsFlrstNat! ZionsUtahBancorp M $64,956,898.00 $61,051,023.00 $64,944,758.32 $48,772,118.67 arQjv&D (1) Ask each dealer how much a car would cost if you paid cash. Then ask what it would cost if you traded in your old car. If the difference is less than the amount yon would get from a used car dealer, take the cash deal. (14 Dont pay exorbitant charges for such services as Preparation is included Preparation and undercoating. in the advertised retail (sticker price of all U.S, cars and undercoating should cost no more than $30 or so. (15) Be cautious when buying a used car from a private individual; try to get a money back guarantee to cover ycu if the car fails to live up to the way in which it was represented to you. (imo ar zmD ar QJX&SZmD ar QJX&D et News. Your , Federal Income Tax, containing 16G pages of answers to those perplexing tax problems, may be obtained at the newspaper office, 34 E. 1st South, or by mail. To obtain a copy, send $1 to Tax .Guide, Deseret News, P. O. Box 1257, Salt Lake City, Utah 84110. Books obtained at the newspaper office COSt I? Cents. MR. BUSINESSMAN, ARE YOU EFFECTIVE? size 5.00; minimum baled non size per cwt Dakota Red River Valley round reds natural color and color added fair appearance 3.25; fro- xen bottom 3.25. Onions: Total shipments 102; arrivals 19; track 20; supplies moderate; demand good; market steady. Track sales: 50's Idaho yellow Spanish fair conlarge 3.25; white large dition 4.25; mediums 3.50; Washington whites large minimum size 3.00. Butter: Prices paid delivered to so' steady 93 score 92 score 9784,- - 90 score 67.784. Egos: Prices paid delivered to Chk vw mixed; cents per dozen (80 per cent A or better): Jumbo too few; exlra large, mediums white large white too few; standards 3135. fn retailers A, In cartons delivered): Exra large 46V47 large mediums Minnesota-Nort- h (rde '; Studies have shown that the major reason for failure of a small business is poor management. A new course, offered through the Utah Management Institute has. been developed specifically for proprietors and partners of small businesses in the Salt Lake area Maor emphasis is placed on minimizing problems and maximizing profits cel SMCInvestment SouthwestResearch Suretylife 1971 QJX&D sticker prices on new cars to de(12 Use the posted termine how much of a discount each dealer is offering on each car. Cars rarely sell at these posted prices, but you use them for comparisons. Russet Burbanks 4.60; 10's meshed 5.30; NatiWpsternUft Researchlndustries JANUARY 1, Yesterday's Bank Debit Same Day Last Year Today's Clearings Same Day Last Year govern me A guide designed to aid the average taxpayer in preparing his federal income tax return is available through the Des-ier' Check Discount CHICAGO (UPI Produce: Cheese 5 lb processed loaf Wh4V i4-7Muenster Ched 62V2-6Qar single daisies longhorns 614-640 lb blocks Swiss (wheels) too few to report; (blocks lb) NorthAmerRe NewoortPharmlni Bank Clearings All the hot springs and nearly all the major thermal springs in Utah are in the western half of the State, the report says. test-driv- $10-$2- 0 hrjCR wt OiiResources PacEna&Prod effort will be fumisned from Ogden. The Vermont State Office of Economic has Opportunity announced the retention of an Ogden, Utah, organization, the. Economic Development Operations, (EDO) group of Thiokol Chemical Corporation, to furnish the immediate professional services needed to, establish a series of child day care centers throughout Tax Guide Will Help Drive e it may cost for a mechanic to and check over a used car for possible defects. Or have an automobile diagnostic clinic advise on problems and estimate repair costs. (8) Consider buying a car a dealer may have in stock even if its the wrong shade or doesnt have the options yon want. On such a car, you may get a really whopping bargain. bar(9) Most important, take advantage of the gains in cars: early autumn for new; February, November and December for used. If you plan to keep a car for several yeais, the fact that a new car you buy in the fall will be a year old in a few months wont matter. (10) Look over the years less popular models which may be clow sellers. It may be harder to trade in, but again, if you intend to keep your car for several years, this wont be a problem. (11) Weigh not only the purchase price of various makes of cars and models, new or used, but also the probable future gas and maintenance costs. A weekly saving of $5 on gas mounts up to an average saving of $250. every year you own the car. the fewer the number of cylinders, the lower operating costs are likely to be as well as the lower original price tag. (7) Invest the potential source of elec- Delta, MiDard County, and tric power geothermal Roosevelt Hot Springs, 12 the study, miles northeast of Milford, energy prompted Chapter, American Institute Thermal Springs of Beaver County. Major of Real Estate , , Utah, recently issued by the A These springs discharge ppi Utah Geological and Mineral-ogicare Dale L. jf The was water at or near the boiling Survey. study done by J. C. Mundorff, hydrolThis indicates a source point. ' of the U.S. Geological ogist of which heat could be L. Stratton, Survey. In the vice p r t; production of employed Information on the location, Edward geothermal energy. The proP. W e s t r a, chemical characteristics, duction of geothermal energy water discharge, temperature is a process of introducing se creta and general geologic setting is water into an underground and A. Melvin given in the report on more area through deep wells. The Mr. Jackman than 45 thermal springs in the steam thus produced is piped McDonald, distate. rector. back to the surface for the ONLY 3 STRINGS production of electrical er. Outgoing president is E. H. ergy. howevthree vice Throndsen, Only springs, president. ARE INDICATORS er, are sufficiently hot to jusValley Bank and Trust Co. the for tify further exploratior The springs themselves are new president is vice presienergy, acc' ing not used for the production of dent of Bonneville on the Hill, geothermal to the report. These r.e i.e but are considered as Inc., and manager of property Thermo Hot Springs Ys ul.es energy indicators of the existence of development. west of Minersville, .eaver a source of heat. Further tests Abraha , Hot must be made to ascertain The officers were installed County; Springs, 18 miles norhv est of whether the area actually can by Walter Winius Jr.. Phoenix, Ariz., regional vice presibe used for the production of dent of the American Institute geothermal energy, according of Real Estate Appraisers. to the report. ,miE A (5) Consult the National Automobile Dealers Assn.s monthly Used Car Guide or Blue Book, listing current average retail car values for most U.S. and foreign models, makes and years. Local car dealers and local banks keep copies of this guide. Using this as a reference, youll find that prices for a given used car can vary as much as $500, depending on the dealer and the cars condition. Test Thermal Potential New officers installed at the January meeting of the Utah n-de- (6) Consult Consumer Reports, which regularly rates new and used cars and indicates the best bargains not only in terms of the purchase price but also in terms of probable repair costs. 3 Springs Offer Appraisers Install New Officers Lake City regional offices has placed a giant order for nine carloads of Kleenex Little Traveler boxes to be used in a can to air us JQ Salt Lake district office, involves 20,000 cases of the tissues. Welker is consumer products sales representative. They will be used in a promotion throughout the region, special promotion. which includes many western The was order, which states, beginning first in handled by Glen Welker of Idaho, California, Wyoming Kimberly-ClarCorp.s Salt and Montana. American sotbat. once and Pleasure gives (4) Choose ft recent model, compact car ove- - an older, which will be loaded with complicated l extras ftnd be more costly to repair later. higher-price- d are able to say what First Security Promotes Jeppson y Keep Limits Secret two great I need scarcely 9 . NEW YORK (AP) Three big New York banks trimmed Worth (3) If you are shoppmg for a used car, dont tell a dealer in advance that you have, say, $500 and would like to see what he has in that price range. Keep your purchase limits to yourself. such rivalry has 3 Banks Your Moneys bays of,. days-- largest it was The increases announced Saturday by U.S. Steel to be effective March 1, will range from $9 to $12 a ton on construction-related items. Bethlehems original increases ranged from $16 to $17 a ton. Automobile prices are heading sharply upward for years to come whether for new or used cars. Prices of all automobile trimmings also are climbing relentlessly. And as in so many other impoitant areas of living costs mtiiimiimiiiiiiiiimm In the United States today, no other trend except up can be foreseen. Yet, in the face of this, you could slash from 5 to 50 per cent off the cost of the next car you buy. And here are 15 rays how: (1) Decide in advance what kind of car uiiiiiiiiiiiiiiiiiiiiiiiiiii you actually need and can afford and STICK to your decision. That last point is crucial. Do you need an car? An family car or a commuting-onlautomobile for short hauls or for long trips? (2) Dont sign up for expensive options on impulse. By eliminating or reducing options and extras, you can shave hundred or even thousands of dollars off the cost of your next earn B'M of U.S. Steel. By SYLVIA PORTER car. Cuts competition, those Bethlehem announced the price increase last "Monday. The increases of up to 12.5 per cent, had been attacked by the Nixon Administration. announcement T 0 d a ys came in the wake of the over announcements weekend by U.S. Steel Corp. and Kaiser Steel Corp. of price increases a'bout a third less than the Bethlehem schedule released a week ago. The Bethlehem rollback apparently comes as a reaction to the competitors rates. Sunday, Kaiser set new prices on structural shapes and carbon steel plates amounting to a 6.8 per cent increase, comparable to that frenyed activity, trade, and prof it trimming pnee expanding and tumble of friendly this fade A statement from the nasteel second tions Ml against one anctna m the rough, pecan M Buying A Car d ihere ere BETHLEHEM, PA. (AP) -Bethlehem Steel Corp. said today it Is rolling back its price increases on steel used in the construction industry. Cost Of r ' JACK WHITESIDES is now and fin selling Mercedes-Ben- z used cars and inyites you to so a 1970 Cadillac DeVillo Sedan fully equipped, J,COO miles verified. Come and see us both at Contact us today tor registration and brochure information. Tuition is less expensive if you register before January 20. GOOD SELECTION. Utah Management Institute P.O. Cox 8086 THOUGH NOT ALL SIZES IN EVERY STYLE. Salt lake City, Utah 84104 4 Phone COdkuft TvumL 322-771- Jack WhittsiJ mi GARFF IMPORTS 1' DOWNTOWN and COTTONWOOD j1 bx) QJK&D arQJZ&DZX&D ar g zzrc ? t |