| OCR Text |
Show The Salt Lake Tribune, Wednesday, January 4, 1961 Up and Down the Street UP&L to Advance Useof Resources By Robert W. Eernlck Tribune Business Editor- V Natural resource development ef the Intermountain Area will contribute substantially to progress of Utah Power & light Co. In the months ahead, says E. M. Naughton, president of the utility. The quarterly report mailed to shareholders asserts that territory of Utah Power & Light Co, and sub sidiaries contains a great number of natural resources that are being developed." A new large one is the Texas Gulf Sulphur Co.s potash project in the uranium and oil field area of 'southeastern Utah, construction of Mr. Bernlcfc v which is scheduled to begin in 196L' MR. NAUGHTON SAYS that investment in potash mint ing and processing in excess of 20 million dollars will con sume from 12,000 to 15,000 kilowatts of power from qur . t J - system."- . - - During 1960, he noted, Utah Power extended 'our 138,000-vol- t transmission system from Utahs coal fields in Carbon County into northeastern Utah to serve the mining and processing oLphosphate rock, oil fields and other. anticipated. industrial development generally in Utahs Uintah Basin. We extended our Telluride .transmission system southward to the Iron County line to interconnect at 138,000 volts with a similar line of the California-PacifiUtilities Co. built northward from Cedar City, the utility executive reported. This line makes available to the people of southwestern Utah a large block of power for industrial, commercial and ' residential use he added. c UTAH POWER ALSO finished the first phase of a dam in western Wyoming to impound 28,000 acre feet of water for the Kemmerer generating plant and will begin to harvest that water this spring. A . Construction of the generating plant will begin this year, with electric generation scheduled for the fall of 1963, Mr. Naughton said. , Utah Rower also completed in 1960 the initial leg of the transmission line to be constructed on its first 230,000-vol- t system, , This line, which presently delivers power into the heart of subsidiary Telluride Power Co. system, ultimately will become a part of the interconnection between our network and that of the Arizona Public Service Co., he said. It will also be available to help market the energy from . Glen Canyon Dam. - LOOKING AHEAD, MB. NAUGHTON said that while the home of today uses substantially more electricity than one of 10 years ago, the home Of 1970 will include specal electrical appliances either now In the laboratory stage or as yet undreamed and which will "make our lives in 1960 seem ' wmewhat primitive." ' Automation in industry, mechanization on the farm and climate control in homes and offices will become commonplace," he predicted. AS REPORTED EARLIER, Utah Power and subsidiaries had net earnings of $9,310,752 for the 12 months ended Nov. 30, 1960 an increase of $251,348 over the net for the previous comparable term. CHICAGO, Jut J (AP) Open Huh Low In Market Lag C New York Timet Service NEW YORK, Jan. 3 Aggregate market value on the New York Stock Exchange fell almost 1 per cent Tuesday in a session marked more by a lack of bids than by genuine selling pressure. Turnover was about half that on Friday. SALES ON the New York Stock Exchange dropped off from the Friday figure of 5.300.000 to an unimpressive 2.770.000 shares. Of the 1,242 issues traded, 551 fell, 501 rose and 190 closed unchanged. There were 27 new 1960-6highs and eight new lows. It was notable that stocks that had been strong at the were inclined to be year-enweakest Tuesday. 1 May July Sept. Dec Cor- n- March May 2 07 2 09 1 86 1 88 1 94 2 09 2 08 205 205 109 113 89 1 89 197 110 114 108 113 110 92 1 13 117 1.16 .85 .66 .67 .68 .85 .67 .87 .69 117 120 118 111 122 .68 69 118 111 122 Soybean 2 32 Jan. March 2 37 July Sept, 235 2 38 2 39 2 23 2 20 216 218 2.16 218 10 97 10 51 10 72 10 90 10 88 10 75 10 92 10 97 A 91 10 July Aaked. - A S.L. Bank Clearings Tuesdays Quotations 825 718 00 debit Same day Uat week Tuesdays clearings Same day last yea t $35 36 020 958 00 47,615 692 30 27,414,122 06 Triday- ing district, San Juan County, is no more. THE FIRM WAS MERGED Tuesday into Colorado Oil and Gas Corp., Colorado Springs, Colo., which owned more than 90 per cent of COG stock and which launched the firm as a uranium diversification. All of the issued and outstanding shares at CO G stock were cancelled. Each of the minority holders of COG common will receive from Colorado 15 cents for each share of COG stock surrendered. American StockExcliange - Sales in 100s(Cksel Chi. Aerojt-- AliedCnt AmPetf AtlasCW BaldSec BrtAmO BritPet BrwnAC BunkHtl BuryBis CalElPw CanMrc CiaryCp CreoleP DayMns EdoCorp ElBdAS BoeingA BookMn Borden BorgWm BdgptBrs BriggsMf Brunswk BucyErie BuddCo Burllnd Burrghi CalPckg CallahnM AH Asked Cal CanDry CanPac CapAirl CasePI CaterpilT Celanese Celotex Cerro CeHntd Cessna ChmpPap ChancV. CheckrM Chemetrn ChesAO CMSPAP dopf ChANW dopf ChRIAP Chrysler CITFin CitiesSv CityStrs Clark Eq ClvEllm CocaCla Colgate CollmsR ColoFlr CBS ColGas ComCrdt ComSolv ComwEd ConEdis CnsNatG Containr at 92 ContBak 20,000 ContCan Total Am, stock sales Tuesday 800,000 shares; 1961 to date, 800,000 Total Am. bond sales Tuesday, $140,000; 1961 to date, $140,000. Salt Lake Stock Market . " Tuesdays Quotations Bid Bid (Asked Asked Bid Bonanza, 500 at 5c Cardiff, 200 at 82 c Chief Con, 200 at 85c. asked and quota bid The following Colorado Con, S 000 at tlons are obtained from the National Cr Eagle OU, 3,000 at Securities Dealers Assn, quotations 10.000 at Croff. committee. They do not represent East Standard, 3,000 at 4c. actual transactions and are intended Investment Resources. 200 as a guide in the range within which OU, 21,000 at these securities could have been sold at Majestic 5c; 9,000 at 5c. bid the column) indicated in (as Mono 10,000 at Kearsarge, aaked or bought tas indicated in the 1,000 at column). Mt. States Dev., 8 000- - at me. T,000 Royston Coaln$ 9.000 at Tuesdays Quotations at 4c. I Bid I Aaked Tintle Standard. 300 at $1 28; 300 at 31 25 Imdastrisls And Utilities Unil Park ty,- - 400 at $1. Ut N. M. Gas, 300 at 62c; 700 at 55c; 100 at 55c. West Toledo 500 at 5c. Water Wonderland 700 at 46c. Over the Counter 3c 3c. 4c. 4c; 2s 2s 4s Oct. Nov. 3s 4 May 3s 3a 7 56 12 14 6 60 55 102 58 4 44 35 58 46 22 67 57 39 40 69 32 41 MadFd MagmaC VsMagnavx lMarqCm - lMarqrdt MarshFd - Martin MayDS -. 1'McGrEl V McGrHl McIntyre McKess Merritt MGM Mnsnto MontPw MontW Motrole Murray NAF1 461 NatCLe NaDairy NatDist NaGpsm -- 10 -- 12 -- 18 -- 14 We are legally - qualified to accept all types of accounts 19H 72H Mission MoPac 5 14 29 451 441 141 441 Nori&W 14 NoAmA NoAmC NoPae 441 Nrthrp NwstAr OhioEd 15 14 4 18! 18! 151 OutbdM OwenIG PacGEl PacLt PacT&T PackBI PanAmS t 141 MlnPL OhloO OlinM OtisEl . 52 63 84 28 V 22 31 18 27 50 10 31S i MtdSoUt MinnHw MinnMo) lib MMM NYShipb NiagM 10 4 52 45 87 27 16 22 39 51 Vs 54 32 -- 1 46 20 36 46 52 19 54 60 44 . 31 31108 31 38 9V 42 - NewpNS - 741- 81 NatAv NatBlsc NatChR - 31 Macy - 1 - 22 Lonllard re i 40i Lukens MackTrk 2u 1 - 22 291582 43 Vs 58 15 Lou-Ns- h re - 8 LoneSC . . , 1 LUyTuf LinkBlt Litton Lckheed LoewsTh -- 1 1 19 47 28 20 32 V 32 25 81 114 30 16 47 34 14 53 V 26 31 19 73 V LibMcN Ligg My 51 V 14 36 57 76 33 46 14 35 23 70 21 68 68 51 23 46 Sales ta IOOsICIomI Ch 45! 15 14) 14 14 141 291 13 461 Individual 3514 35 V. 40 V. 4514 3114 2814 7544 2714 30 V. 2914 7214 82 21 60 2614 5814 85 82 62V. 4314 25 V. 1514 3814 13 3914 9814 4714 4714 42 4414 1614 36 3814 4214 58 2314 9114 7314 5214 31 2314 1614 Joint S Corporation -- 4 t i.'. X ix H Payroll Deduction Save-by-ma- i il George S. Eccles Chairman of the Board Peirce Brady L. Wool Market V t Childrens Accounts 12 14 , Trust -- 12 -- 14 Company - - President ' Something New at the HOTEL UTAH EMPIRE ROOM SALT LAKE CITY J ' Street Floor First Security Bldg. 33; Main at 4th So. - Affiliated Fund Common Stock A Investment Fund: Investment objectives of this Fund are possible How to build No , Why not drop in and dhcun this with u.Or phone or write. It could prove one of the most important move of your financial life I No obligation, of course. J.A.HOGLE & CO. income A g.iwreu. portion of hot roatf top .irioin of hoof on kummolwick roll, rerred wMi goMwi.. brown tatw loh and Hilacl 1 . f1 0 growth for its shareholder! j rvjptcawi assy w spwni jvsss mitlmiui dssUr Hot pentromi tandwteh on ipocial ryo roll, or ry. broad, Kohr sr; ' dillpidtl., potato lolod Lord, Abbett 65 Will s i itr Atlawta lea Anqsus L & Co. Esv Tsrk I Sah FiANctsce . Geatlemea Pleus send ms a Iras Prospectus OB Affiliated Fund. wMiijiw Addrsak. atjrAStafc. -- W-lt N , 1 ... 1.1 , A "do it yourt.lf tandwich" largo French roll, tlic.d (treat, Cucaoo 1)2 SOUTH MAIN ST. ' SALT LAKE CITY I PHONE DAvti 1.1411 Served from the copper cart capital and m long-ter- future... - Federal Income Tax to Pay From MUNICIPAL BONDS Received on Interest ' Some Bonds - Available to Yield 3.75 to 4.50 , 16 14 36 52 34 35 JohnsM Jones&L JoyMfg Kaiser Al KanCtyS KelseyH Kenncott KemCL KerMcG KimbCk Kreage Kreas . Kroger Lear Lehman LOFGls 66 351 Cash Grain your financial Municipal Bonds First Security Bldg, Salt Lake City, Utah, Phone EL 54 -- 2 -- 1 88.- -- NIW YORK. Jan. 3 (AP) Wool tops and wool futures were higher Tuesday. Strength et the futures markets In London end Sydney, CHICAGO, Jan. 3 (AP) No wheat coupled with concern over developments in Laos, stimulated demand for ale Corn No. 4 J.llaw 1.01; No. 3 yel- contracts in New York. low $4-- 1 00. Wool futures closed 1 to 1 8 cents Oat No. 1 extra heavy whits 68 9; higher. March 113 SB, May 113 5B, No. 1 whit. $7; No, 3 white July 113 8, Oct 114.9. Dec. U6.3B, March 115 7B, May 116.23. 84; No. 4 whit. 84. No. Certificated wool spot 111. IB Soybean. No. 1 yellow 3 3 yellow 3 34. Wool tops futures closed 1.0 cent A. Soybean oil 10 00-1-0 higher May 1961 147 0B. Certificated spot wool tope 145 5B choief 1 10--1 S3N. Barlay Malttn Feed 75-- 1 00N. Bonds " 78-6- 80 3 Vis Nov. 80 Feb. 90 Ss Feb. 95 Nov. 98 old and is operating - LINCpLN URE & CO. "15-8- 5 3a4s June Feb - v 102 16 102 24 100 30 1016 103 26 104 2 91 18 9126 102 12 102 4 102 4 102 10 93 0 93 8 87 16 87.24 92 2 92 10 69 74 -.- -- ICVi 39 31 41 58 21 28 54 30 53 IslCCoal 2e 2e , v 8 45 2 16 26 20 4 285 16 48 4s 4s so short a time, Mr. Buehner' said. The bank, he added, is now 24th In size among the states 50 state and national banks. said that ' the Beehive Bank Bldg, at the , Mr. Buehner of State and 1st South Is ahead of construcnortheast corner tion schedule and will be occupied "not 'later than June of f this summer, , . I 1 Dow Jones Service" NEW YORK, Jan. 3 Closing dealer markets (bid and asked fractions and changes in 3 2nd) : Notes Bid Asked Chg 2 996 Feb. 63 994 104 14 104 20 Nov. 63 104 12 104 18 May '64 105 12 105 18 5s Aug. 64 I I Bond 98 29 8 98 31 ! Dec. 3 2 99 26 99 28 -- 1 Nov. 61 98 16 98 20 2Vs Aug. 63 97 3 Feb. 65 976 -- 10 0 90 14 14 Mar. 906 3s Aug. '66 10 97 30 98 4 87 26 86 3 Sept. '67-7- 2 3 68 4 Dec. 88 12 -- 14 1014 1018 -- 10 3 May 68 the, black, Few institutions have achieved this record in - 3 I2y 50 67 U.S. Government Bonds Beehive State Bank is operating' In 'the black and had total resources of 5 million dollars as of Dec. 31, 1960, Carl W. Buehner, president, reported Tuesday. ' 28 47 53 V 87 - 4c; Beehive Bank Tells Resources Municipal 364 42 2e; 2c Marquardt Corp, operating ramjet engine plant at Ogden, has field registration statement with Securities and Exchange Commission seeking registration of 50,657 shares of capital stock to be offered selected officers and employes of the firm and subsidiaries pursuant to a previously adopted stock purchase and option plan. Tax-Exem- pt Babcock 12 BldLHm 8 Balt Ac O 3 Bathlr 9 BeatFd Beckman 32 3 Belilnt 45 BellAH 15 Bendix 24 Benguet 2 BestACo 7 Bestwail BethSU 145 6 BiglwSan 6 BlkADk 6 BlawKx BlissEW Marquardt Seeks Stock Listing 17 MONTHS I 1961 to date, $4.920,000. Sales in lOOsiCioset Che. ,(34 -- ; 1 ft li'A Genesco GaPac Gillette Glddmg GlAlden Ghdden Goodrch Goodyr GrceWR GrPaige GraysnR GtNOre GtNrRy GtWSug Greyhnd GrumA GulfOil Harsco HercPdr Hershey Hilton HoffElee Hmestk HouseF HoweSd IdahoPw IdealCm IllCent IndRyon IngRand Inlands Intlakg IBM IntHarv IntNckel IntPack. IntPapet IntRectf IntResist IntShoe IntSilver IntT&T do3 1 THE BANK IS JUST 41 04 67 47 56 GnTAtR Sales in lOOsIClosei Chg j ; 60 32 59 64 12 30 19 48 18 8 39 FdFalr FdMsch Ford FremstD FrprtSul FruehTr GardDn GenAcpt GenBk GenDyn AmFP5 ATT3 HE WILL WORK DIRECTLY from San Francisco, Under E. W. Littlefield, executive vice president Mr. Vaughan is a 1940 graduate of Stanford University and a native of In Seles in lOOsjClosej Chg FchdEA 6 33 Family I1 FerroCp 28 Filtrol 4 Fires tne 34 FirstAm 28 ft Flintkt 29 AUdC8 George W. Vaughan, former secretary of defense for labor affairs, has been elected a vice president of Utah Construction and Mining Co, according to Marriner S. Eccles, chairman of the board. - Sales in 100s Close( Chg Sales, 91, ( Tuesdays Quotations 81 Tuesdays Quotations GenMot GnPrec GenRef GenTAE 4 42 57 57 SO 98 57 17 94 $8 18 81 Tuesdays Quotations Utah Construction Lists Official , 425 Industrial. 25 Railroad. 50 Utilities 500 Stock. x i Standard and Poor, cloaing 50Q stock Index: Low Cl.i Ht.k NatChanr - 62 60 87 60 7 el 50 29 80 29 6 ' 29 28 ' Genlnst 6ALE 8 a Poors Closing 500 Stock Index & GenMUl was in range of COG Minerals Corp., which was hopeful of establishing major beachhead in uranium in Utahs White Canyon min- Standard NEW YORK, Jan. $ (AP) New York Bond Market do2 ATTSF4 BA04 do4 do4 Vs CanPac Total N Y. bond .ale. Tuesday. $4,920,000; Cht 83 04 10 56 45 05 70 02 52 4 02 51,100 48 800 147.600 41,300 FlaPAtL WASHINGTON, Jan. 3 AP The cash boalUon M tha treaiunr with corresponding' data a year ao. Dec 28, 1959 Dec 26. 1960 95 840.574097 96 523,786 352 76 Balance 939 740 513,173 942,734.190,245 84 Deposits Fiscal Year July 1 946,635.212,552 $47,146,230.015 49 Withdrawals Fiscal Year $291,188 191,426 X$290 952,484.371 10 Total Debt $19,456,138,024 917,836,618.885 10 Cold Assets not to 58 debt statutory limit. x Includes $401,555,376 subject 501 551 190 27 8 Volume U.S. Treasury d COG Minerals Firm Merged Brunswick Certain teed Amer TAT Stand Oil NJ 2 42 2 42 2 23 241 Lard (drum) 10 65 10 51 Jan. 10 75 March 10 72 May ' 42 2 43 2 2 21 Nov. 135 139 2 31 239 1242 Ten Leading Stocks 1.23 2 38 2 40 May 121 The Utah Mining Assn, estimates 1960 iron ore production at three million tons, compared with the 1959 when 2,842,000 tons were produced from properties in southwestern part of the state. OUTPUT t 192 197 Iron Production Records Rise UMA SAYS THAT 195 million tons of iron ore. Tuesday! Averages Furnished by J. A, Hogle A Co. Member of the New York Stock Exchange Volume Indus. Balls Hourly 680 000 614 67 Li0 87 Number securities traded llem. Noon 1,220 000 612 19 130 51 ' Advances 1 pm. 1620 000 610 40 130 63 Declines 1 2 pm. 040 0o0 609 52 1 JO 64 Unchanged 2 3O0 OOO New highs pm 2.770 0O0 610 29 13106 Total New low Lew Velum Close Risk Chg. 340 2o0 616 65 606 09 610 28 -- 8 b4 Ind 40 bonds 84 46A00 11168 129 56 13106 Rails .21 10 high grade rails 80 47 400 100 57 99 15 Utils. 99 75 - ,27 10 2nd grade rails 61 85 10 public utilities Comp 4 15 900 206 58 203 23 204 77 -- 1 14 1 10 142 32 10 industrials 91 Commodity futures index 2 08 2 05 1 86 1 88 1 94 1 1 Dow Jones Averages Cloae , strike-affecte- New York Stock Market Grain Futures Stoclzs Sluggish 17 and eh...., lottuc. and tomato or A la cart, londraon g.I J25 from lire itremi jytgg )asasgse First Security Savings & Loan Association, AFFILIATE OF FIRST SECURITY INVESTMENT SALT LAKE CITY ? PROVO 405 So Main x , Inc , OFFICE-HOUR- 20 East Is! No. S 9 a.m. to 5 p.m. Mon. Tues. Wed. Thurs, 9 a.m. to 6 p.m. Fri. CO. |
