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Show mt VU- -r r I'nax ir, KCC inventors 2 DESERET B For contnbutiona in trial developmnt, nine of are which at Kennecotts research center in Salt Lake City, were given awards ence for hauling the products in American bottoms. Hammer says he wants to go farther than congressional leaders have been urging by insistmg that the vast majority of the tonnage move under the staars ans strips. Bills m Congress are asking cnly 29 to 50 percent of suen freight move m American bottoms. He has told newsmen that American shipping companies would take in many millions by hauling ammonia and urea from the Soviet Union to the United States and other parts of the world and hauling phosphoric acid, machinery and equipment to Russia. He said a consortium of banks to be led by Bank of America of San Francisco may provide the financing for the Soviet Union. This involves $400 million for the fertilizer complex and ultimately much larger sums for piplines to Murmansk on the Arctic Ocean and a Pacific port to provide petroleum and liquefied natural gas for the Western hemisphere. American ship operators also would get most of the business of hauling the oil and liquefied gas. The Russians have agreed on both directions prefer- - Sugar firm authorized to buy own stock shares commERCE Company President A. E. Benning said the purchases would be made over a considerable period of time and under price and volume restrictions designed to minimize the impact of the pur- - the the company is not committed to purchasing all 20,000 shares. Ground broken for warehouse to be built in industrial park expansion to capacity. OGDEN Ground has been broken on a tract in Weber Industrial Park for a $3.5 million colJ storage warehouse, announced John Inglis, chairman of the board, United Foods, Inc. 75 million pound The United Foods warehouse will consolidate shipments from the companys five John Inglis Frozen Foods Company plants to fill carload size orders. The facility, which will employ over 100 persons and handle an annual payroll over $300,000, will have 25 million pounds capacity when complete this fall, Ingks said. An additional 25 million pounds of capacity wild be added in two years. The units f flexible design permits Earnings Reports JUSTHEIM PETROLEUM MBAs not for me, tycoon declares By Leroy Tope NEW YORK (UPI) Its rare to find a corporation head who is downright hostile to Harvard MBAs and to masters of business administration in general, but President Jay Monroe of Tensor Corp. is one. stockholders. - I dont think state. Mountain West was highest among all regions for Small Business Administration penetration per business population during that six month period. Utah ranked highest in the region. The A graduate of the University of Utah, he entered tho securities business in 1967 d Thats the idyllic setting Shadowbrook hopes to pretract just serve on a north of Provos Riverside Country Club. Shadowbrook is a $4.4 million condominium development of Bruce A. Jackson, Bountiful, and Lincoln Realty headed by Lowell H. Christensen, Provo. The first model units of the development are to be opened to the public Tuesday, with the 1973 Miss America, Terry Anne Meeuwsen, DePere, Wiac., on hand to help with the festivities. high-performan- which cover company Five architects were hired to develop independent plans for the project with the under explained. plan chosen was the most costly but tne most he eslhetically attractive, said. The housmg has been limited to 5.3 units per acre although zoning w'ould hae permitted up to 6 units. The The project is being built in four phases. Phase, one. started last September, is scheduled for completion in 69 days. Some of the units will be ready for a occupancy about July 1. included in phase one are 30 condominium units, a swimming pool, clubhouse, playground and picnic areas. The clubhouse will have a health spa in the basement. The emphasis is on family living, Jackson noted. When fully completed, the project will also have a second clubhouse and paddleball courts. Phase two construction already is well under way. Phase three will be started in July, and phase four is scheduled to start next spring with completion set for the summer of 1974, Jackson said. Were pleased with in pre-sale- The units have up to four bedrooms. Prices range from $38,000 to $50,000. Jackson is the general partwith the limited partners having furnished funds for the ner planning. State Savings and Loan Association is providing the construction financing. Architects-Planner- s signing. Mr. Sansom Powell new vice president Oren P. Powell has been appointed vice president of the mortgage loan department of Deseret Federal Savings and Loan Association. A graduate of North School in Coalville, Powell Summit High attended Weber "YOUTH MARKET" WANT ADS FOR SUMMER JOBS State College, graduating in 1940. During WW II. he was a commissioned fighter pilot in the U.S. Air Force. Chapter picks officers 4 Producers select officers i I. former superintendent of testing in quality assurance at the Bacchus Works of Hercules Incorporated, has been promoted to field superintendent in the Hercules office at the Navy missile base at Charleston, Drive, joined Hercules in 1961, and served as group supervisor in Polaris Quality Control, superintendent of quality assurance, and superintendent of Poseidon Quality ControL South Moor SAWHORSE Model THINKING SH-- 3 Prompt Service? lew Peymentj? All Makes? Call Steve i-- g ie Lease Mgr. QOWiYtFUL MOTOSI SALES, i:ic. 2773 295-552- 1 on oisPtAY Come see .Complete as pictured Longer Legs made to order ,.$495 UR We Art $tr flit Tht KonAyiMA, TM SALT LAKE ProfitM!. OGDEN Advertise your specialty. This is a Want Work column only. T. ify. 3. 6. 7. 8. Full Maintenance? 40,000 Mile Warranty? Imfaediata Oelirary? Bountiful, Utah Baby Sitting Housecleaning Pet Care Typing Errands June 3 tlirougli June 2 Sjiecial offer good for 4 Sundays Your ad will he published on the day nr days you spec- 4. 5. S.C. So. Main During the past few years hundreds of teenagers have found summer jobs with small ads in our special classified columns for young people. YOU can do it, too! i Bacchus aide 1796 MusH Yard Care Trash Hauling Delivery Work Trainees Odd Jobs, etc. Other officers selected were Gail J. Gill. Mountain Bell, as first vice president; John C. Riches, Beacon Metals, Inc., second vice president; Norman W. Osborn, Stanley Hardware, treasurer; and Alvin E. Jacobsen, Mountain Fuel, secretary. Mathews, 10 A LINE ' Robert IL Merrill, "f Lauren Burg, INnc., was elec :d president of the Intermountam Chapter of Producers Council, Inc. at a re cent business meeting. Stanley M. Mathews, COST JUST Mr. Powell Place your ad at the Classified Counter, 143 South Main. Let a friendly help yon write your ad. Pay just l()c a line per ad. Two or three lines will do it, or use up to 7 lines. Must be cash. No phone calls. Xo refunds. Ads must he placed prior to Saturday, 1:00 p.m., to run the following Sundav. ad-tak- er High School age and under eligible. "YOUTH MARKET" WANT ADS FOR SUMMER T43 South Main Use "Youth Power" for Summer Work. Alli- ance, Salt Lake City, has done the project planning and de- 7 marketing. the he said. yi'-- Directors are Fred H. Stringham, president Valley Bank and Trust Co.! Louis Harris, vice president. First Security Bank of Utah; and Grant Holman, assistant vice president. Federal Reserve Bank. Let's face it. he said. I He followed up by making a the high intenspeech before the new Enterlamp and attracted a lot sity of Club Harvard the prise a Business School that gave the of competitors. It reached whole MBA concept a verbal peak manufacturers market He charged that of $30 million in 19ti7. of which lashing. at Harvard and other Tensor had $7.5 million. teachers business schools routinely put Today the market for these profits ahead of morality and lamps is only about 15 million even ahead of sound manage- a year and we have half of it. ment. Tnis convinced me that any It's wishful thinking to be- new product that catches the lieve that a young MBA from public eye is lively to have a cycle, and Harvard car. help a business boom and shake-ou- t roll with must it if even or in management trouble that's isnt in trouble, Monroe said. the cycle. What they learn in the MBA Tensor does currently course is unless to most busi- about $3.5 million with its metal nesses. It's almost Lke expect- tennis racket busmess. Monroe ing a boy to go out and play feels that his plastic tennis varsity football just on the ball, which bounces higher basis of reading about the but lies slower than tiie game, without coaching or standard covered ball will practice. prove to be what the soft ball is to the hard ball m baseball United Press Monroe told International that the trouble and ultimately will cause a lot more people to take up with MBA's is they have an tennis a game wmch Monroe of the idea imporexaggerated himself plays av idly. tance of tieir obligation to the police vehicles the A wooded area PROVO with gurgling streams of mountain water, sparkling and winding roads ponds seems like an ideal place to live. no trees were to be removed and the other natural beauties of the setting were to be preserved, Jackson standing that Dale II. Sansom, manager of the Salt Lake City office of Paine, Webber, Jackson and Curtis, has been named a marketing vice president of the nationwide investment and brokerage firm. (net earnings) preoccupation of MBAs, especially the Harvard breed, made them overcautious and inclined them to unwise penury in management. They always want to skimp on advertising and on research he and development cost, said, And the plain truth is that for many companies, sound and adequate spending Monroe admits that his dis- on advertising and research like of MBA's is partly emo- development is the very tional. One thing that turned breath of life. him against them was the Maximizing profits sounds comment by Chairman David fine and may work for a few Rockefeller of The Chase but it also can put a years, Manhattan Bank that Americompany on the road to the ca should reach some accemetery, he said. comodation with the Arabs. Monroe said his experience Monroe blamed that on some with the boom and shakeout in of Rockefellers MBA advisbusiers, but he promptly took Ten- the high intensity lamp ness convined him of this Rockeof account out sor's more than ever. fellers bank. Monroes the man who created the boom in lamps a few years ago and followed up by pioneering steel and aluminum tennis rackets. He now is working on a coverless, complex plastic tennis ball he says will revolutionize amateur tennis. The campaign involved pri- an incorrect was installed, said. O . Robert Moms Associates, Mountain States Chapter elected 1973-7officers with James K. Hill, vice president loan administrator at Walker Bank and Trust, chosen as president. Other officers are O. Rhees Ririe, senior vice president Commercial Security Bank, as vice president: Jerald D. Holvoak, vice president Zions First National Bank, was elected secretary. long-rang- e - engines By Arnold nine Deseret News business editor t, DETROIT (UPI) American Motors Corp. announced the recall of 1,624 passenger cars to replace a faulty emissions component. ncipality . Dream setting for dream house All stock and commodity markets were closed today due to the Memorial day holi- equipped with on I 1 condominium. greenery is the setting for the $4.4 million Shadowbrook are closed recalls 1,624 cars the Small Business Administrations annual quota for the vr jl, '' 1 Lush American Motors managements obligation to the stockholders is any greater than its obligation to the he employes and customers, said, and not as great as the sound obligation to follow policies. He said the bottom line ; Stock markets market. Utah banks had alcal 1972-7ready achieved 107 percent of St &-- ': Sansom is vice president after eight years COMPANY Total Income period end-InMar. 31. 1973, S79S6B compared to S6S.JT8 In some 1972 period, net income ftaures 557,898 m 1973 compared to S In 1972 Total current assets Soda, 607 compared to S437 564 in 1972. tt'. t Spedden. Other men honored were C.A. Lefler of Casa Grande, Anz.; G.D. Mittelstadt, Rifle, Col.; N.L. Ransom, Morenci, Ariz; and S.R. Zimmerley, Sun City, Anz. markets will open for business as usual on Tuesday. Small business loans increasing in Utah. During the first three quarters of fiscal 1972-7small busmess loans in the state reached $23.9 million, according to Don A. Carlson, Utah Bankers Association president. Five years ago, the total dollar volume of such loans was $9 8 million, he pointed out. In the first six months of fis- - 4VV ? H R. All Small business loans top $25 million level Kf. The Utah inventors were AE. Back, K.E. Fisher, J. Kocherhans, E.E. Malouf, and day. This includes the New York and American stock exchanges, the commodity markets and thq International Stock exchange as well as the CORNER ON chases on the market price of the companys securities." Benning said directors also announced Thursday a quarterly dividend of 40 cents per share of common slock. The dividend will be paid Aug. 1 to stockholders of record July 13. He said the company's plan to purchase its own stock could be interrupted or discontinued at any time, and that OGDEN (UPI) Directors of the Amalgamated Sugar Co. have authorized the company to purchase up to 20,000 shares of its own common stock for use as employe bonuses and benefits. ki The Utah, Ray and Chino Mines divisions of Metal Mining Division, for contribution in cone precipitator development, made the awards. The agreement with the Russians on the fertilizer ingredient complex provided that financing outside American sources can be sought, Hammer said, only if money becomes unavailable from lenders m the United States. Hammer plans to visit Moscow shortly to negotiate the pipeline deal which, he said, wouid be a joint venture of occidental and El Faso Natural Gas Co. This venture over a long period of years could involve twice as much money as the $8 billion which the Russians said the fertilizer complex deal would amount to over 20 years, '..e said. During that visit. Hammer said Occidental and Bechtel Corp , the trade center with an international hotel in Moscow. This hotel would be operated, he said, by Intercontinental Hotel Corp., a subsidiary of Pan American World Airlines. Building of the trade center could increase Pan Ams traffic between the Soviet capital and the United States and that of the Soviet aeroflot line. Pan Am now flies from New York to Moscow twice weekly. years. Vvtjr indusinven- five tors, employed U.S. oilman seeks Soviet deal Scores uf American companies NEW YORK (UPI) stand to make a lot of money doing business with the Russians if Dr. Armand Hammer's negotiations with the Soviet Union pan out. Hammer heads Occidental Petroleum Co. of Los Angeles, which has an agreement to build a fertilizer complex involving $8 billion worth of barter trade spread over several years. He is getting ready to negotiate an oil and gas pipline deal that he says could run to $17 billion in 23 wrMvk' receive awards NEWS, MONDAY, MAY 28, 1973 |