OCR Text |
Show 9 M it rj .rtliiiir1.fty kj i Trucker president warns of strike 68 DESERET NEWS, MONDAY, JANUARY - the economic downturn begins. Statistics show that a liabilities are high In relation to assets in both sectors, thus weakening their ability to withstand the stresses of lost sales and wages. While it is too early to predict the consequences of this offiilliquidity, government cials, businessmen and others will be watching closely for of indication any rising bankruptcies. Some businessmen already are complaining about slow payments of bills, and attribute it tc the reluctance of customers to finance inventories with high cost loans. Instead, they borrow from their suppliers. Lionel Edie L Co., the economy research and consulting arm of Merrill Lynch, the brokerage house, kmmments that an situation shows the iCashh Carry TV alarming resemblance to the 1969-197- 0 penod. It was during that time that found it many companies difficult to fiincreasingly nance their operations, none more so than the Penn Central, which was forced ir.; reorganization. ). Edi notes that corporations hac sharply increased their short-terborrowings and that now their cash assets are only 18.6 percent of current liabilities, compared with a ratio near 40 percent on the early 19ii0s. Another measure, the ratio of cahs and securities to current liabilities, shows corporations in almost the same position as they were in the dangerously illiquid penod. "The deterioration in these 1969-197- 0 - A shuffle MIAMI (UPI) in January fuel allotments will shift 110,008 barrels of residual fuel oil destined for Florida Northto the energy-starve- d liquidi- ty is once again a cause for concern to the financial community, it said, adding that conditions are no better m the household sector of the economy. One sign of household strain of is the high percentage instalment credit extended in relation to disposable pi rsonal income. This figure has nsen sharply. for energy chief William Simon asking for a special meeting between all responsible representative groups in the trucking industry and govern that a Hill complained re- cent Interstate Commerce Commission (ICC) ruling that allows a surcharge for increased fuel costs provided no immediate help for truckers owning their own rigs. instituted requires trucking companies to prove their need for increased hauling rates by a submitting fuel cost data costtoo Hill was said process ICC ruling, The Dec. ly, 13, and time-consumin- for complex independent truckers. - Americans OKK (UPI) NEW may have to pay through the nose for heating oil the rest of the winter but they are Li no danger of freezing, oil trade circles said. the percentage of debt to dispoable income is below 1.5 percent. Dr. Alexander Sutulov, a visiting professor of mineral economics and me'allurgv, said Thursday that political conditions in Chile encouraged his return. A professor at the University of Concepcion, he came to the U.S. after the election of Marxist Salvador Allende as president in 1970. y FORT WORTH, Texas -ChampLn Petroleum Co. announced that the Department of the Interior, Bureau of has acLand Management, cepted and issued leases effective Jan. 1 to Champlm and Sutulov will take the post with Corporacion del Cobre, or CODELCO. The company was organized about 15 years ago to control mining output in Chile, Sutulov said. Under the Eduardo Frei government, it acquired 51 percent interest in Kennecott Copper Corp.s. Chilean holdings, mainly the El Temente mine. others covering nine tracts off the Gulf Coast of Florida. 5,760-acr- e The tracts were offered for lease by competitive bidding at the outer Continental Shelf lease sale held in December. Champlin joined with Exxon, others in submitting Mobil and successful or Of course, if you were one of the very smart investors of 1973, you put your money on the very lucky like Homestake Mining Co., the nations big winners gold producer, which zoomed up 198.42 percent, closing at 70 on Dec. 31. Even more spectacular was Houston Oil and Mineral Corp. which streaked into a stratospheric 448.84 percent gam, closing at 58 on Dec. 31. These were the leading gainers respectively on the New York and American exchanges. investiRep. Jesse Helms, gated reports from constitutents that tankers loaded with gasoline were waiting off the coast for higher prices. He said he found that all the tankers were loaded with heating oil and simply were waiting for empty storage space ashore. ., bids aggregating the nine tracts. Champlins share of the total $699,760,750 for bids is $120,773,560. Champlin is a wholly-ownesubsidiary of Union Pacific Corp. d With respect to six tracts approximately 70 miles southeast of Fensacola and 57 miles off the Florida coast in 155 feet of water, Champlin joined with Exxon and Mobil in submitting successful bids turn-aroun- d d turn-aroun- d Other top gainers on the New York Stock Exchange were ASA Ltd., up 198 percent, Foster Wheeler Corp. 189 percent; Pullman, Inc. 34 percent: Bucvrus Erie Co. 131 Red percent; Dome Mines Ltd. 123 percent; Campbell Lake Mines Ltd. 120 percent; Stone and Webster 118 percent; Arthur G. McKee and Co. Ill percent and Hughes Tool Co. 100 percent. oil leases issued Off-sho- re The Allende government was overthiown by a military coup in September. The average decline for a share of stock was 16.4 percent on the NYSE and 39.8 percent on the Amex. There a rally in September and October which the was a bit in the marbrokers hailed as the ket. But the promptly reversed itself and the index hit a new low for the year in the fourth quarter. How scon refineries will be able to shift production to a higher proportion of gasoline and a lower proportion of heating will depend on the weather for the next 60 to 75 days. y Dow-Jone- Rally didn't last long y As of Dec. 28, stocks of heating oil were 203.042 million barrels, a If you had invested a thousand dollars in common nearstocks a year ago, your investment wouldnt be worth than likely. ly that much today, more s industrials were flying Last January, the index has been hovthe mark. Lately, high above the 1,000 850 level. the around ering An analvsis of the cast years activity on the stock market by Interactive Data Corp., Waltham, Mass., shows listed on the New York only 197 of the 1,481 common stocks Stock Exchange (NYSE) gaining in value during 1973. One the American Stock Exchange (Amex)), 98 of the 1,185 listed common stocks were winners. The odds against the investor coming out ahead of the half of the big board game were pretty high. More than of the Amex issues stocks and nearly showed losses for the year of 30 percent or more. three-quarte- supply, up from 159.168 million barrels, or a supply a year earlier, which was a very cold winter. In 1971, a much milder winter, stocks at this time were 193.553 million barrels, a supply. The heating season now is nearly half over on a calendar basis. Stocks of distillate, the tradfe name for heating oil, are much higher than a year ago because it has been a mild winter in spite of a few big storms. Stocks are so high that many tankers are waiting off major harbors for stor-- , age tanks ashore to empty enough so they can unload. This has given rise to mistaken rumors that these tankers were carrying gasoline or crude oil that was being held off the market by speculators waiting for higher prices. iRvme More downers than uppers ment to work out a solution. No danger of freezing Economists who use this measure first compute the amount of new instalment debts being assumed by consumers and subtract from it the amount of credit being repayed. Then they match that figure against income. metallurgy professor to accept Chilean post tracli plastic sliding doors William Hill, president of the Fraternal Association of Steel Haulers (FASH), sent telegrams to President Nixon and east , Florida Pow'er and Light Co. said. Florida's The company, largest utility, said it was notified by federal energy adWilliam Simon ministrator that the fuel will be used to shore up lagging stockpiles of the Boston Edison Co. U. A University of Utah professor says he will return to Chile to become a director of rsearch and development for the Chilean state company . that runs the nations five largest mines. The. PITTSBURGH (UPI) an independent head of truckers association warned there would be one - of a transportation strike" unless Administration the Nixon provided quicker relief of rising fuel co its. to aid Northeast measures of corporate Historically, - Florida fuel oil Business liabilities high in relationship to assets AmerNEW YORK (AP) ican businesses and households are in i. less than satisfactory financial position as 7, 1974 rrhold aggregating $632,377,950. Champlins interest in each of these tracts is 17.5 percent and its share of the total bids is $110,666,140. In the case of two tracts approximately 80 miles southeast of Pensacola and 30 miles off the Florida coast in about 135 feet of water, Champlm participated to the extent of 15 percent with Exxon, Mobil and e Corp. in submitsuccessful bids. ting Kerr-McGe- Amex's 10 best gainers The 10 best gainers on the Amex were Bridge Street, Inc. (formerly Duralloy Co.) 135 percent; Atlas Consolidated Mining 134 percent; Wright Hargreaves Mines Ltd. 125 percent; Preston Mines Ltd. 105 percent; Earth Resources Co. 100 percent; Consolidated Oil and Gas, Inc. 93 percent; C and K. Petroleum, Inc. 85 percent; Texas International Co. 82- percent and Philippine Long Distance Tel. 77 percent. The losers, thank goodness, didnt match the winners in the spread between high and low points. On the big board, Interstate Stores, Inc., dropped 92.73 percent to a close on Dec. 31. Open Road Industnes sank 92.22 percent to close at 2 on Dec. 31. - IWJTPMK? - SELECTION A QUALITY & VALUE irrfw;is- - CASH & CARRY STORE HOURS: 1 970 So. (Between) higgs; 9-- 6 Main And West Temple LIWU$pii 322-552- FOR TAX TIME AND STORAGE FILE TIME, YOU CANT BEAT SUPER CITY FOR THE BEST DEALS IN TOWN MANILA FOLDERS tetter Size: $22, ,0 $27?,co All Steel Base Adust-obl- fully TYPEWRITER STAND Heavy companys Somerset, Pa., camping trailer manufacturing facility will go to a thre-dawork week, effective today. The decision, said Lawrence M. Jones, president of Coleman, was caused by the general inventory adjustment of recreational vehicles taking place at the dealer level. y STACK CHAIR ROYAL APOLLO GT ELECTRIC TYPEWRITER s Height And Tension PAYMASTER CHECK WRITER - WICHITA The Coleman Co. Inc. announced that the 9 HOWELL BRETFORD SECRETARY, SWIVEL CHAIR legal Size . PHONE: MONDAY-SATURDA- Y Full Sire Touch-Se- Duty t Tabulator Carrying Case upholstery The Somerset plant manufacturers small, fold-otype camping trailers which can be Keyward Margins Pre-S- Vinyl towed economically by compact and standard Included Choice Of Colors vehicles.- 79 Molded Shell Exlremtly Comfortable Ideol For Home, Office. Auditorium Mirror Chrome finish And LEXAN GENUINE For Office O Prints irr e'Businesj-Lili- Heovy-Duf- y 45 Check e x MATS Choiri-- 1 Typewriters 53' Bronze Ports ' APSCOGIANT t- V t v JO AVERY LABEL w e Corrects rusuio Dries Quickly IF3PJR And Smoothly HOLIDAY OIL CO. 3847 So. Redwood Rd. 1 69' 89' White Colors 950 W. 3500 So. Granger, Utah ACCO PAPER CUPS HOLIDAY OIL CO. 2728 W. 3100 So. Granger, Utah HOLIDAY OIL CO. Prints, Spaces, and Cuts label to Size With One Lever 8913 W. 2700 So. Magna, Utah HOLIDAY OIL CO. 33rd So. West Temple Salt lake City, Utah HOLIDAY OIL CO. Z&01 Parleys Way Sait lake City, Utah USSSI y ROYAL TRAVELER ATTACHE CASE . 4483 Holiday Blvd. 7 Salt Lake City, Utah Gouge Conifrgclfofl Smooth Drower Xr Urge Copocity Universal factory Worronty Freezer Compartment Cent Operotton Locking Draw (ran Drawer Pulls Genuine Walnut Fmling SCHWAB 4 DRAWER FIREPROOF FILE ACORN STEEL DESK ut. ANDERSON WALNUT SECRETARY DESK. BOX OF lOOO 30 Top WEAREVER SAMSONITE Aporoved 1700 "tj CJiW RETURN e i BALL - POINT BLUE AT BLACK OR INK SUPER & S94 9 A Seporote Safe Pollers Full Suspension Center Drawer Walnut Plosttc laminated Heavy Gouge Steel Dfawer And Eower W Lock Each Drower Steel Ball Beomg , PENS Fire Safe All ! SAVE CITY HOLIDAY OIL CO. II Htowy 34" (urn and Star Resistant Micarla Top Five (m Drivers Full File Draver FOR HOME OR OFFICE 4828 W. 4 100 So. Hunter, Utah . HOLIDAY OIL CO. ANDERSON GENUINE WALNUT DESK Steel Construction 1 'Year Locol Service ond Guarantee Genuine Compressor Model 7604 Utility Micarra lop L Shaped While our camping trailers have continued to sell well, dealers are experiencing slow consumer demand for larger recreational vehicles with a resulting reluctance by lending institutions to finance additional inventory. This move, Jones pointed out, does not change our previous prediction regarding the divisions trailer camping profitability in 1973 or its continued satisfactory performance in 1974. $30990 Asks 3 - - 4MAWa Typing Errors DRAWER M60 189 99 PAPER Or Written HOLIDAY OIL CO. 2 CORRECTION FLUID MAKER Salt lobe City, Utah CABINETS! Print Out Five Decimal Places Easy To Operate Buffered Keyboard Guaranteed 5 Years Under Normal Use LIQUID STEEL RUNG Calculations j',1 Pencils ill Steel leceptocl husky! Addition, Substroction, Multiplication, And Division Cham, Mixed, And Percent Steel tegs Tubular (right Colors ELECTRONIC PRINTING CALCULATOR ill Popular Style Heavy 6 REFRIGERATOR Americas Most Popular A1! Purpose SBorpener Accepri ROYAL DIGITAL XII 0 SANYO iV of1 Rugged And Versotil Large Top Permits Use Of Heavy Electric ay week for Coleman DELIVERY SERVICE AVAILABLE 3-d- Full File Drawer okay to use DDT for moths WASHINGTON (UPI) -The Agriculture Departmant asked the Environmental Protection Agency, (EPA) for standby authority to use the banned DDT to pesticide control a moth infestation in the Pacific Northwest. The EPA last year denied a similar request, with resulting heavy damage to douglas fir forests by the tussock moth. The Agriculture Department request asks for emergency to use DDT in authority Oregon, and Washington Idaho. Tt said that certain safeguards would be employed including buffer strips along streams and nvers where the pesticide would not be used in order to reduce the threat to fish. 9 |