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Show y r "1i'-i- rny'i ittinj ir ' Fi pi tty" ifr"'yi' y jj1 '''r'ty w,''wl,wVifril,lTlwl(i'1limf 1''''"1rffl,,ri1 1' WfWl ll'1WIW'' Of'iilrMlil tssy??'-- jrjpzrT"' DESERET Deaths Action Ads NEWS, SATURDAY, MAY 19, 1973 Business B City-Region- al Car performance down since '65 - The average 1973 standard-sizeDETROIT (LTD automobile gets 21 percent poorer gas mileage than a comparable 1965 model, a top Ford Motor Co. executive said recently. Performance has also suffered with acceleration dropping 12 percent from 1965 models, said Harold C. MacDonald, vice president for product development. The interim emission standards set for 1975 models sedan will probably will mean the average standard-siza 26 percent decrease from get about It miles per gallon 1965 models which had iio emission control devices. But MacDonald, in an address to the society of automotive engineers, admitted the company mileage charges may be showing better mileage than many drivers of cars are getting in actual operation. While emission control devices can be blamed for part of the fuel loss, McDonald said, the problem of increasing weight and the use of power steering, automatic transmissions and air conditioners also affect fuel economy. The need for larger engines to compensate for deterioration in power, aerodynamic considerations, variations in the fuel itself and modifications in driver and traffic patterns, all contribute to the downward trend in fuel economy experienced in recent years," he said. The typical 1965 standard-size- , r sedan with optional small engine, automatic transmission, power steering and power brakes weighed about 3.500 pounds. In normal driving situations, the average driver could exeect 15 miles per gallon. In tne intervening eight years, the automakers have either modified their engines or added on eqipment to control emissions. Theyve also had to build larger engines because of poorer performance and add on heavier equipment to meet safety standards. d Pluto ' (1 A iif:LHI1 ' . . . v world s - , - Illlllll - s v v w . wi.m..nm. rc?, - rvXe" v II e A a The downtown Bountiful scene depicts a rapidly declining business for merchants. Some businessmen say a downtown mall is needed. Downtown Bountiful: life passing it by? By Arnold Irvine of 5th South as a business street. Three eating places currently are in the construction stage between Main Street and Highway 91. along with an auto supply store and a tire store. Access to the freeway makes 5th South a busy, street and city officials expect the new Grand Central store on 2nd West just south of 5th South will generate even more traffic on the street. The city is planning to widen and resurface 5th South. cendancy Deseret News Business Editor BOUNTIFUL You've got to have a downtown. Where else would you hold parades? ' This plaintive plea was voiced by the president of the Bountiful Main Street Merchants Association. Mrs. Jack (Lois) Pickett, as she summed up the plight of the downtown area of Utah's fourth largest city Like Salt Lake City, and most other cities in the U.S., Bountiful is grappling with the dilemma of a downtown decline., Population of the area .has grown tremendously - Bountiful had a in 1960 and population of 6.000 in 1950; 17,0 but downtown business nearly 28,000 in 1970 activity hasnt kept pace. Malls and shopping centers in outlying areas have joined, w ith the drawing power of the nearby big city, Salt Lake, to keep downtown Bountiful at almost a 1950 level. I can see the business district shifting to said Mayor Morris F. Swapp. 5th South. The Main Street merchants will have to do something if they want to reverse the trend. lie and Holbrook agree that federal funds are needed to make a mall development possible. The mayor noted that federal funds are hard to get at present. Id In addition, the highway construction program has robbed Bountifuls Main Street of nearly all through traffic. Bountiful has actually suffered more than Salt Lake Citys southern satellite Murray, which still has busy State Street bringing traf- fic through its downtown area. Even so,. Bonnie. Seegmiller, secretary-managof the Murray Chamber of Commerce, concedes the Murray downtown area is dying or, at best, going through a transition. ; ; Most city business development is nOw along 5th South in Bountiful. shopping area. The central structure in the Main Street area, the historic Bountiful Tabernacle, built in Pioneer days, would be an asset to such a something beautiful to build development, around, says Holbrook. village-typ- e er Bountiful furniture store owner J.; Dell Hol We need to generate traffic. brook urges, bring in more, stores, Theres been Only one new building built on Main Street in the last 10 or 12 years the new First Security bank. Attorney Keith L. Stahle. one of the principal property owners in the Main Street area, agrees that something is' needed to upgrade the area and make it. more competitive with other business developments. Holbrook is proposing that Bountiful follow the lead of downtown Salt Lake City, and build a downtown mall. In fact, he sees a postraffic along sibility of routing north-soutstreets west or east of Main Street, and of Main Street. building a roof over a closed-of- f A chaste, white gem of Pioneer archion its tecture, the Tabernacle stands alone own midtown block surrounded by a green one of the oldexpanse of lawn and trees. It is state. the in est church buildings . Holbrook has persuaded the City Council to agree to help finance about a third of an study of the downtown develop ment alternatives. Merchants would raise the s of the money. other One of the obstacles to the mall proposal would be the need to remove some 50 homes and 25 business structures in the downtown area. Holbrook concedes. The high cost of land is another barrier. $8.00()0-$9.00- As an alternative, should there be no possibility of a large store coming in to anchor the mall, Holbrook would turn Main Street into a 0 ... two-third- As a result, not all of the Main Street merchants are enthusiastic about the development h plans. A mall would be too expensive for the small businesses, said Wayne Fisher, manager of Bountiful Lumber and Supply. His busi - : It has NEW YORK (AP) been a postulate of the Securities and Exchange Commission in recent years that one " of the few unique advantages left to the United States m an increasingly competitive world is its capital raising ability. . .This view was described by ; William Casey, when he was ; chairman in 1972. And G. Bradford Cook, who succeeded him until his resignation - Wednesday, expressed similar . thoughts. Each felt the capital ' markets must be preserved. These markets for savings, stocks, bonds and other securi-- j ties are the biggest fund rais-- s ers known to man. bigger than th? U.S. Internal Revenue Ser-- ; vice or the Bank of England, a national treasure existing nowhere else. They have financed war and peace and launched and kept supplied with fresh funds the expansive corporate machinery that for years has given the United States an industrial advantage over all other nations. But the capital markets have been having troubles in recent years. The old structure developed cracks. Some brokers failed to hold up their end, ethically or The financially. change machinery stock ex- was found to be inadequate and Regulatory guidelines needed Confimodernizing. dence needed to be restored. to 1892. He sees the primary need of downtown Bountiful as a matter of parking space. with her husband of Mrs. Pickett, Servis Drug agreed. Parking is the main problem. We dont want parking meters. Were going to have to persuade the property owners to open up the areas back of the stores for parking. Some of the property owners also need to fix up the buildings. She noted that of the 100 or so businesses on Main St., about 10 ow n their own buildings. She feels the estimated $3 million price tag -on a mall would be prohibitive and favors the village-typ- e something like Troldevelopment " . ley Square; Business is satisfactory but theres, room for improvement. We developed the sidewalk days idea which has been a good promotion, copied all over the country. Still, we need to be more conscious of the need to serve the - There it is again, that word confidence, synonymous with faith and trust. In the hard world of money, it sounds too conceptual, too abstract to have reality, but that isnt so at all. Not only is it a hard term, it is the bedrock on which the unique capital markets are Without confidence, people dont take risks, and that has been the case with millions of investors during the past few years. They might trust the in which they companies invest, but they've had doubts about the machinery of buying. And so the SEC ious exchanges and the and var- brokers are agreed, at least superficially, that a new order is needed. Its purpose: To restore confidence. That is why the resignation But at the same time that he was pushing the case, the jury claimed that, at the behest of Nixon fund raiser Maurice Stans, he had deleted reference to Vescos $200,000 contribution to the Nixon presidential campaign. And so, at a time when many scared investors were spending their hiatus from active investments to become spectators of the SEC's progress toward modernizing the markets, they are shaken again. Those hurt worst are the mass of individual investors, many millions of them, who as a group have more money to invest in the expansion of the country than ever before, and who have demonstrated their willingness to invest if treated properly. The institutions aren't likely to mind quite so much. A pension fund might invest even when the market is poor in order to avoid being swamped threat to Main Street is the by a grand jury of having submitted to political pressure in deleting information from an SEC case, is considered so damaging. The timing could hardly have been worse. But the individual investor has been quietly waiting while the regulatory officials, to some extent w ith the cooperation of exchange officials and brokers, advanced these promises repeatedly in recent months: that he wouldnt be at a disadvantage in trading alongside powerful institutions. To restore public confi- dence in the nations unique marketplace. WANTED Large Parrels oJ Land, Brazilian Land Owned by Americans. HEOAMCO (714) S70-896- 1 K. Kwan, U.S. Agent, ' UiUH.l' big store. Nearly everyone agrees, however, that Main ought to be preserved somehow. As Mrs. Pickett put it, Youve got to have a downtown. Where else would you hold as- - Summit International, Trans Atlas merger plan Summit International Corpoof Salt Lake City announced plans to merge with a Trans Atlas Corporation, Washington firm, forming a wholly owned subsidiary to be formed by the Washington company. The signing of an agreement in principle the evidencing intent took place Friday. Under terms of the planned agreement. Summit International shareholders will receive for their shares $1 par value stock totaling 71,000 ration will be at Hotel Utah from May 21. BUY TRUCK Dodge 34 Ton 53,420 The average 1973 model standard-sizsedan now weighs about 4,275 pounds and may get as much as 12 miles per gallon, says MacDonald. Weight has a much more telling effeet on small cars than on large ones with an additional 100 pounds on a subdecrease. A compact resulting in a 0.4 increase on a standard-siz- e car causes a drop of 0.1 miles per gallon. e car should averBy 1975, said MacDonald, the age about 11 miles per gallon and suffer an 18 percent loss, compared w ith the 1965 model. e n d full-siz- We feel that despite our engineering efforts to trim pounds, car weight will go still higher and there is the probability that even large base 8 engines will be in use engines in the neighborhood of 400 cubis inches, said MacDonald. V-- Stock of the week American Motors picked to top list The fourth largest producer of cars in the United States, American Motors Corporation is picked as stock of the week by the Securities and Commodities Corp. Additional stocks listed may be of interest due to potential capital gains. Prices of the stocks are shown as of the close of trading Friday. , (7) AMERICAN MOTORS CORPORATION AMO is the fourth largest manufacturer of automobiles in the United States. Acquisition of Kaiser Jeep, a major supplier of military fourwheel drive vehicles, ownership of five United States auto plants and twelve foreign, and record demand for smaller cars all total up to a continued earnings gain. For the 12 months ending March, 1973, earnings were $1.22 per share compared with $.48 per share for the preceding 12 months. No cash dividends are paid. Capital Gains ARCHER parades? To develop a central market that would assure him of the lowest prices to be found, not just on a particular exchange but on or off any market in the country. To give the individual in- .shares. vestors equal access to inforThe shares to be received mation about corporations so 2736 W. Orangethorpe Fullerton, Ca. 92633 of Cook, accused The chances of attracting a large store to the downtown area as a mall attraction are virtually nil according to the Penney manager, Gerald P. Langton. With us . on the north, going up on the south, Grand Central opening off Main Street and the other shopping developments in the area, the downtown area doesnt have the potential to attract a public. I think we can make Main Street the center and focal point of the south Davis area, Mrs. Pickett said. . Another like to see us have an a nice downtown. If we could get people to shop in Bountiful, we could reduce the city property tax by five mills, said Swapp. He estimated the city could get another $100,000 in sales tax if Bountiful residents shopped in Bountiful. The citys current mill levy is 15 mills, one of the lowest among the large cities in the state, the mayor noted. The mayor expressed a feeling that further development of the proposed shopping center around the new J.C. Penney store on the north side of town would help stimulate business in the Bountiful downtown area but this development is not moving as rapidly as had been expected. Meanw hile, the site of the old Penney store on Main St., once the anchor of the downtown business district, stands vacant, a forlorn portent of a possible Main Street fate. er mg illegally transfered $241 by incoming funds. To them it million from mutual funds to is a matter of necessity rather his accounts and those of oth- than of choice. ers. - ness is one. of the towns oldest, dating back - unique . four-doo- V-- 8 will equal about 8.1 percent of the shares of Trans Atlas stock outstanding or subscribed by May 16. The proposed merger will be subject to Summit International shareholder ratification, according to company officials. According to Summit Internationals unaudited financial statements, the company had net earnings for 12 months, ending Mar. 31, of $123,529 ai.J total assets of about $1.5 were liabilities Company listed at about $1.4 million. DANIELS MIDLAND COMPANY al City Bank of Minneapolis, greatly contributes to the long term earning potential. For the 12 months ending March 1973, earnings were $2.17 per share compared with $1.56 per share for the preceding 12 months. Cash dividends are paid at an indicated annual rate of $.50 per common share. DIAMOND SHAMROCK CORP. (19) DIA produces a wide variety of chemicals and plastics for use in the agricultural, automotive, metal, paper and other closely related industries, here and in the foreign market. Acquisitions and an aggressive expansion has contributed greatly to a strong earning factor. For the 12 months ending March, 1973, earnings were $1.96 per share compared with $1.24 per share for the preceding 12 months. Cash dividends are paid at an indicated annual rate of $1.64) per common share. UMB REGIONAL MAHAC-l- l for major building firm. Must be experienced in construction for single family horns. land-buyin- g, marketing, 25,GG9 Plsxs Benefits Also 2 experienced esasfewfa ssperinfessfests. Must be thoroughly familiar with single family residents und have recent experience. delivered HUEYS PH. 359-765- 5 - Salary Open DODGE 1000 SOUTH MAIN (28?i) ADM processes vegetables (mostly soybean) manufactures food products, mills wheat, marine oils and markets feed and grain ingredients. Operating in 40 cities in 18 states. 14 foreign countries, and having 88 percent control of Nation- replies held in confidence Reply to: P.O. Box 6131 Sait lake City, Utah 84106 1 Phone: All 486-870- v., |