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Show 'rytT "t1; V 2B DESERET , STOVE PIPE Aluminun and Black Se ection Americans Shake Off Fear, Go Heavily Into Debt "A FUN PIAC! TO SHOP" NEW YORK (AP) - Ameri- cans are going heavily intu debt again after imposing a Spartan-likregimen on themselves beginning in the summer of 1969, when economic e ATTENTION MR. BUSINESSMAN DON'T BUY A COPY MACHINE! Just buy the supplies from us and we'll let you use our copier in your office. COPY SERVICES CALL FOR MORE INFORMATION and other fears overpowered the buying instinct. In October alone they added credit of $1.92 billion, a record for any month. Excluding home mortgages, it brought consumer credit to nearly $150 billion and the peal of the surge may still be many weeks away. The greatest single category credit is for the purchase of the automobiles, although more recent increases quite likely reflect in pail the activities of early Christmas shoppers. Regardless of the use to which the money is being put, it is considered highly significant as indicative of a fundamental change ir consumer psychology, from fear to from lethargy to enthusiasm. of tonfi-denc- 328-425- 2 225 EAST 9th SOUTH, DICK MURDOCK, ' ni n -- -i SALT LAKE Owner The malaise that afflicted consumer buying had been discretionary spending is, a choice in their money was to be spent. For millions of people, all money earned was committed to necessities. power-t- hat how '"Our computer eliminated all human error but introduced a few of its own." New Inn Planned At Ogden A new. $1.2 million Rodeway Inn will be built in Ogden by a Utah busitwo ness firms. newly-merge- d The companies lm olved are Frontiers West Inc., a closely held sy ndication and development firm, and Consolidated Financial Sei vicconsumer es. a publicly-helfinance company. Their merger was effected by a stock transfer with Frontiers West Inc. the surviving corporation The new Rodeway Inn will be built five miles south of Ogden m the area of the Interstate 80 and Interstate; 15 intersection. It will include 7li units, a large restaurant, convention and banquet facilities d d EARLY WEEK SAVINGS PRICES EFFECTIVE MON. DEC. 1 1TH ANDTUES. DEC. 12TH 1972 The company is also working oil two other Rodeway Inns, each to cost about $1.7 million and to be built in Elko. Nev. and Fort Collins, Colo. Among other projects, said Lynford L. Theobold, president, the company plans to begin construction immediately on a 120 unit garden apartment complex m Ogden, and has acquired over 500 apartment units in Seattle. Wash and Portland. Ore. diPr TABLE TRIMMED TENDER BLADE CUT Irony In Mountain Fuel's (MFS) Brady Unit No. 1 w'lldcat well near Rock Springs, Wyo., has been tested again with encou- e Since that time the rate has been declining, although there were indications it was leveling off at a rate around 6 4 per cent. A drop of that magnitude adds at least $13 billion a year to sales. It is because of this enormous market power that retailers in recent years have been especially attendant to consumer moods and why the study of consumer attitudes and expectations has risen in importance. Just a little more than three decades ago relatively few Americans had what is called iii:iiiiiiiiiiiiiiiiiiiii,!iii:iiiiiiiiiiinniiiiniiii9i'iiiiiiiniiiiii!iiiiiiiin Looks Good accompanied by a surge m the rate of savings that peaked at 8.6 per cent oi pay in the second quarter of 197i. take-hom- Arnold Irvine Wildcat Well Test Utah-base- The company develops for syndication as investments, lie said. Theobold was elected president and chairman of the board of the new company after the merger Ellis J. Robinson, former vice president of the previous Frontiers West, is executive v ice president. Kenneth L. Penlami. former president of Consolidated Financial Services, is vice president and general manager of the division. raging results. B.Z. Kastles , MFS president, reported Sunday a third drill-stetest of the Weber formation at the well has again produced cruae oil and natural gas without encountering mation v, ater. for- The test was conducted at a depth interval between 13,750 and 13,851 feet, and and during a period, resulted in a flow of 53.5 degree gravity oil (at 60 degrees) at a rate of 576 barrels per day end natural gas at a rate of 1,850,000 cubic feet a day through a choke with a surface flowing pressure of 2,400 pounds per square inch. The bottom hole shut-ipressure was 5,914 pci and at the end of the test, the bottom hole flowing pressure a was 5.441 psi Kastler reported v two-ho- n Kastler noted the Weber formation, in three consecutive tests, has now been penetrated 261 feet. New Officers Named - AppointBOISE, Idaho ments of a new director and four vice presidents have been announced by Co., Inc. The firm has also it announced FRESH QUALITY FAMiLY PACK (Ltt vy Cream Cheese Marshmallows Hash Browns Green Beans Sliced Bread Ballard-Wadhas Inc., announced the 1973 line of Subaru compact cars from Fuji Heavy Industries, Japan, now is on display in the firm s showroom. 13 Fronl wheel time is a feature of the new models along with synchromesh transmission, and steering independent wheel suspension system, according to Nate Wade, manager. will join with ConPacific struction, Ltd., Honolulu, Hawaii, in construction of Mr. Spencer a $22.4 million family housing project for the U.S. Naval Facilities Engineering Command. Pacific Division. The new director is L. Neal Spencer. Boise, vice president of operations in Canada and Europe He will succeed Lee M. Greenleaf who will retire Dec. 31. M-- The new vice presidents are Gilfillan, in charge of diviconstruction specialty sions; Frank S. McGarvey, international operations; Robert A. Allebom and John R. Hall, Northern Construction Co. G.W. INSURANCE SERVICE insurance bonds 3553493 SALT LAKE OGDEN , I MEOALL!ON Do it yourself-i- ts easy with There may be some irony in the fact that a former steelworker now heads the Utah Copper Division of Kemm .ott Copper Corp. B.B. Smith who prefers to be known by his initials instead of 51 Billy, the name he was given years ago. started following in his father's footsteps at the Colorado Fuel and iron mills at Pueblo. I worked in the rail mill, the wire mill, the open heatth. he recalled, leaning back in his chair and gazing out over Salt Lake City. He prefers working in his shirtsleeves in the spacious office on the Kennecott Building's 18th floor. Drill cores and rocks on the tables give the room a far as the corptrate management is concerned, theres no doubt that the tall Texan will represent their interest well despite his blue collar background. As He has proved himself in all kinds of conditions in his long climb up the ladder. Born in Atlanta. Tex.. B.B. grew up in Pueblo, where he worked in the mills and attended Colorado Southern Jr. College before World War II. During the war, lie served in the Army signal corps the Pacific Theater. Returning to Pueblo after his discharge, he resumed lus old job at the steel null. Later, he and a friend started a busim'jl of their own. a delivery service which did pretty well but not well enough to suit B.B. He so'd out to- - his partner and enrolled at Denver in After graduating m 1954. he applied for a job with Kennecott. Ike Hearn and J.P. OKeefe sat in on my he recalled. B.B.'s first assignment was with the Nevada Mines. started learning the mining business literally from the ground up. filling in at times as foreman in the pit. After working up to the position of mine general superintendent, he came to Salt Lake City, to oversee a $100 million expansion program of the Utah Copper Division. This completed, he was transferred to Coy a. Chile, to handle a similar project at the famous El Tenientc Mine. After four years, he returned to the Utah Copper Division as mining manager. A year later, lie was appointed general manager of the Chino Mines Division at Hurley. N.M. Just two months ago. he ?as called to Salt Lake again to become general manager of the Utah Copper Division. In all, he and Alice figure they've moved 18 times since their wedding clay. Do they plan to stay in Salt Lake City? Weve bought a house." B.B. said with a grin. We enjoy Sail Lake. As long as theres a golf course, the wife and I are happy. Term Belittling, Broker Says By JOHN CUNNIFF AP Business Anuly si - The (AP) small investor" is demeaning and totally inappropriate," the speaker told the assembly of graduate business students. "It is ignoble " It is belittling, it should be dropped from the vernacular NEW YORK term As used by the brokerage community, he continued, it is a term of condescension, implying that the more important customer is the institution and that the small investor therefore is a second class citizen. in such There is little an observation when made by a small investor. It is the attitude of brokers that big is better. in fact, that has alienated so many ordinary Americans and driven them into olher investments m-- u EIUBlRNs 'iiiiiiiiiil!iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimii:iii!iiiini THE 'SMALL' INVESTOR four-spee- d BONDS Copper Story Division in Ruth and McGill. He Subarus Displayed Jf -n u j NEWS, Monday, December 11, 1972 CORNER lomplatt i Bui the comments, so typical of small investors, were made by Arthur Levitt. Jr. head of Hayden Stone Inc . a ihJ major brokerage house they were among other provocations that made his talk a significant document m the evolution ol Wall Sheet Speaking al the Columbia liuversity Business School this week about what i said were "personal feelings not shared by a number of my asLevitt suggested sociates. that unaffiliated or "individual or "consumer" be used in " place of small He explained that n brokers remembered that "while institutions today do over 60 per cent of the trading, individual investors own over 60 percent of the stock." they would realize the uproductiveness of their snobbishness. Because of the alliance, the small investor usually obtains poorer research, receives less attention. and is accorded less overall solicitude, said Levitt. This, he suggested, is opposite to the proper attitude. "In my judgment." he said, "the consumer investor needs more time and consideration, more guidance and more education than the institutional investor broker-institutio- cause of the inferior service. he stated, is the of a compensation system that rewards the broker for making sales while he exis-tenc- e ATTENTION SPORTSMEN WOULD YOU LKE TO SELL A NEW PRODUCT CONNECTED WITH We-$ti- k ADHESIVE-BACKE- HUNTING, FISHING, AND OTHER ACTIVITIES, AND AT 12 X 12 VINYL ASBESTOS FLOOR TILE new floor beauty in just minutes no fuss, no muss just peel, place and press full range of patterns and colors RECREATIONAL THE SAME TIME EARN PER YEAR $1 5,000 AND MORE? Then sell memberships in a new d National Recreational Company devoted to improving the opportunity for sportsmen to enjoy their leisure time. Require both full time and part time salesmen. Excellent commission and lead Utah-base- arrangement. A fun Plate la Shop SALT LAKE OGDEN n For an interview, phone 486-13- 1 1 poses in tbe conflicting role ol adv iser. Stating what a lot ol small investors have been saying for years, he argued that the quest for commissions might to some salesmen tempt portfolio changes "suggest when their best judgment told them tins was a time to do nothing." In his ow n personal v lew . he said, the answer to this dilemma is to take salesmen off commissions, to raise the standards of training, and to inspire them with a sense of professionalism that is badly lacking. What we should strive tor is the creation of job security for professional brokers who have the welfare of the investor as their foremost objective. he said. This, he continued, would require a basic salary structure rather than commissions In addition, the salesman broker would be paid for bringing m new accounts, for making few mistakes, for longevity, for maintaining customer loyalty. Such a system is being considered by some firms, but a' Levitt said after the address, it will take guts to impele d ment, mainly because other firms don't follow it will put the innovator at a disadvantage. "It would provide job securhe ity and professionalism. said. There would be less turnover. less recruiting of each others workers. There would be a greater incentive to serve the customer as well as the " industry Basic to such a plan, he feels, is better training. You will understand this need, he said, when you think of the responsibility earned by a broker who counsels an individual on the management of hi' total life's savings " V J |
