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Show U tii"( - Veteran Builder i.jT,. X-,- t1, , Sold Pay $1.5 Million i- - , G.' M. Paulson, a' veteran of 51 years In the contract- ing trade,, is retiring, announced Saturday. it was n THE AREA, superintendent for Utah Construction and Mining Corp. will be honored Tuesday1 at a board meeting of the Intermoun-tai- n Branch' of,. Associated General' Contractors, of S.L. Syndicate Deal Covers 30 Downtown Ogden Sites America. , MR. PAULSON was bom Nov. 13, 1890, at Sanford, Colo., and started in the More than 30 downtown properties in Ogden owned by, D. H. Peery Estates, Inc., have been sold in a 114 million dob contracting .trade with that firm had contracted to build the first railroad at Bingham mine of the old Utah Copper Co. in 1910. U-- lar transaction to Salt Lake and Southern California interests when Major changes at Carbon County facilities of Independent Coal ft Coke Co. Include new 5,000, ft. tunnel con- - Gate mines and. opening of new' necting C Seam Conveyor production at Castle Gates No. 4 mine. Kenilworth-Castl- Up and Down the Street e Mines Markets More Capacity For Coal Firm AP By Robert W. Bernick Tribune Business Editor Independent Coal & Coke Companys $700,000 expenditure in opening a new mine and completion of a funnel connecting two existing properties in Carbon County places operations of the states larg-"- J est commercial coal firm in a new C 7 dimension. A trip through these facilities ,y ' with William J. OConnor, president v w of the company, also discloses that while some people may be inclined f"to write off coal mining in Utah, Independent Coal & Coke continues to fight for its share of the fuel mar-- I ket at all levels of operations. Modernization and mechaniza-Mr- . tion is one of those levels. AggresBernick sive sales and sales promotion are others. Independent Coal has a capability of producing some 1,700,000 tons of coal annually at its Castle Gate, Kenilworth and Clear Cfeek properties in Carbon County. one-mil- 4 '.! .vlv t x s'? f' K .1- ,r 'i V i, JJ T '&' -- ! " - t 4. - k , v ' 1 UPI-D- ow Jones-Ne- Salt Lake City, Utah Section C A" G. M. Paulson e vv o ' V , V; t- - ' ' ' r i, j . , . Retires as area superintendent. s alt a!tf Financial News Busing it was reported Saturday. PURCHASERS IN the cash transaction were J. L. Whits Investment, Inc., and family of F. Orin Woodbury, both of Salt Lake City, and William F. and Arthur N. Macrate, Long Beach, Calif. The properties include' holdReal Estate ings betweeft , 24th. and 27th Streets on Washington, and Farming on Adams and Keisel Avenues. . York Times w Sunday Morning February OWNERSHIP DATES back Page One 12, 1961 Stocks Point Down as 24th STREET Market Tilts THE ESTATE had been privately listed by Woodbury Corp, Salt Lake realtors, for several months. Handling the transaction was Woodbury Corp. .president Wallace R. Woodbury and Woodbury commercial salesman Joseph Eisen. Representing J, L. White Investment, Inc., was Salt Lake attorney Alvin I. Smith, J. L. White Investment Inc, s of the deal, carried By John G. Forrest New York Times Writer NEW YORK, Feb. 11 The stock market ran into heavy sledding this week and lost ground. PROFIT-TAKING- , a spate of unfavorable corporate earn- ings reports and perhaps even the inclement weather conditions combined to depress many prices on the New York Stock Exchange. Washingtons initial moves to alleviate the business recession and support the dollar were generally welcomed and may have acted to prevent the setback from being a sharper MODERNIZATION OF THE MINES dates back in part to acquisition by the firm of the Clear Creek and Castle Gate holdings "of the old Utah Fuel Co. in 1951. Independent has now paid in full for these purchases, including a million dollar coal washer plus an added half milliorj dollars it has spent in renovations of the washery. STREET two-third- PURCHASE WAS made by the syndicate for purposes of investment afid development. INCLUDED IN the properties as showm by map numbers are (1) White City Bowl, St.; (2) Egyptian 2439 Theater, Washington 3 Blvd.; Ogden Theater, St.; (4) south end of block between Keisel and Washington, facing 28th Street, including Bennetts and others; (5) Virginia Professional Bldg., 45524th St., and (6) Peery Apartments, 2465 Adams Ave. 430-25t- one. Connection $400,000 for 5,000-Foo- t Another $400,000 has been spent in the last two years on the 5,000-foo- t connection between the Kenilworth and Castle Gate properties. This connection also involved laying of new rail in the Castle Gate section. ( Actually, the market appeared overdue for a reac- 420-2ot- tion. Stocks had made gains,, as measured by the key averages, for three consecutive months. On technical grounds, at least, the stage was set for some liquidation. Selling Monday and In the early part of Tuesdays session was partially offset by a trend quick r V e r,s a 1 Wednesday, That da 'volume soared to 4,900,000 shares in a burst of buying, indicating that there was still plenty of public support in the market. COAL MINED AT KENILWORTH can now be sent under ground, through the new tunnel to the addit of the No. 2 Castle Gate mine and thence to the washer. This eliminates a round the mountain haul from the Kenilworth addit to the washer. Additionally, Independent has brought into production the new Castle Gate No. 4 mine at a cost of about $300,000. This t mine taps the lower C seam, running up to thick. Mining at Kenilworth continues from the D seam. The $700,000 in improvements represented by the new connecting tunnel and the Castle Gate No. 4 mine all have been paid for. NO MINING IS CURRENTLY BEING carried out from the older Castle Gate properties or Castle Gate D seam as workings are currently so far back that operations tend to become higher cost. These workings are now sealed off from the main haulage area in Castle Gate No. 2. It is an experience to enter the Independent Coal & Coke properties from the Kenilworth side and, nestled in a 42-tomine car, zip down the 6,000 foot, 11 per cent grade that constitutes the old main haulage (No. 2 slope) at Kenilworth. 25th to the late D. H. Peery who died Sept. 17, 1901. His heirs, , including nine children, incorporated D. H. Peery Estates, Inc. Approving the sale last week were nearly 60 heirs and stockholders of D. H. Peery Estate. Inc. A last child, the late Harman Peery, former mayor of Ogden, died only a few weeks ago. -- . THURSDAY, however, stocks went downhill again as trading amounted to 5,590,000 shares, the largest volume This crane, biggest In the U.S., went since Sept. 26, 1955. The widespread demand for Into operation this week hoisting Thlokol missile engines. issues was cited by observers as evidence of the broad public interest in the market. So was the heavy volume of trading. That volume has been running about 40 per rent above the year-ag- 26th STREET Metals Prices Mark Time By Associated Pres NEW YORK, Feb. 11 Tima marched on in nonferrous metal markets this week with prices steady and demand about unchanged. 27th STREET rubber-tire-mounte- low-pric- Grade Follows Dip Down to Seam The grade, of course, follows the dip downward of the D seam at Kenilworth. The guide was E. O. Jackson, Kenilworth mine superintendent, who has worked in this property since he was 16 years old. AT THE FACE IN MAIN EAST, we found Larry Regis Sr. and his helper, George Jensen, operating an automatic loader which poured coal to the shuttle car. The shuttle car load of coal to the railthen scurries with its 10- - to 13-to- head where rail cars are filled. Independent Coal still maintains the No. 2 slope hoist in good condition because it will provide flexibility in either increased mine operations or in case of repairs which may be required On the new connection and main haulage out the Castle Gate No. 2 portal. Largest of Kind ThiokoJ, Employs Huge Crane for Minuteman Special to The Tribune CITY A BRIGHAM D. H. Peery Estates, Inc., has sold above properties in Ogden a Salt to Lake huge rubber-tire-mounte- - by the Mani- t Special to The Tnbune There was little evidence yet HOUSTON, TEXAS Three of any important change in in the lanks of promotions the business picture. Continental Oil Co. were announced Saturdav by the firm. towoc Engineering Co Manitowoc, Wis., the $120,000 crane K. K. liLKliAKl, assistant to the general manager of , was delivered to Thiokol by the Rasmussen Equipment and petrochemical manufacturing, was promoted to the post of Supply Co., Salt Lake City. manager. J. E. CLARK, manager of J. D. Burns, formerly assist The Salt Lake Stock Exof the plant engineering at the Thio- change, the New York Stock ant superintendent La., petrochemical kol facility, said the.big crane Exchange and all other prin- Gretna, would speed lifting operations ciple securities and markets in the manufacture and testing will be open on Monday. RCA fo Sell Notes of the first stage engine, Dow 'ones Sci .ce SO WILL BANKS in Utah. which weighs over 20 tons NEW YORK Radio Corp. In the past the markets and when loaded with solid banks in the state would of America has ai ranged for lant fuel have been closed because the private sale of $100,000,000 Lincolns Birthday falls on - of five and per Sunday, with a holiday on cent promissorv notes due May - Markets Banks Open Monday Remember those questions in schoel? The variety where the correct answer was always right there in front of you and all yoa had to do was pick it out? Veil that iomething like this business of investing. There are 2,600 or more securities listed on the New York Stock Exchange . . . Nearly another 1,000 on the American Exchange . . . And something like 40,000 stocks and bonds to market. choose from in the find think we the right securiran these, Among yoji ties for any particular investment situation or objective. ,The only trouble is that nobody can possibly keep track of that .many securities all by himself. Which is the main reason why weve gradually built np one of the biggest and best Research Departments in the business why we feel more qualified than most in helping you choose the most attractive securities currently available for your purposes. We dont charge for that help, either, and youre not obligated in any way. Just tell ns something about your present circum- -' stances, indicate whether youre primarily interested in increasing your capital, protecting it, or getting a liberal dividend return and address your letter, in confidence, of course, to WALTER L. ROCHE, Trcary - RATES ARE LOWER o HP El IT TRUCKS-A- Mimitrs Nrui York Stock Exchongt tnd other principal Slock and Commodity Exchanges 129 SOUTH MAIN STREET, SALT LAKE CITY ..Telephone: ELgin The following table lists operating results NEW YORK. Feb 11 fAF in major lines of business and finance in the latest week, with comparisons with the pieceding week an'1 a v a ago. Latest Wk. Prev. Wk. Year Are 1,492,000 1,466.000 Steel prod (net tons) 2.690.000 497.630 476.403 587 981 Freight carloadings Misc. freight 257,927 250,777 315.955 123,564 Auto prod (units' 183,010 13,63Su 7 440.000 7.085,000 8.470.000 Soft coal prod (tons) 6.862.210 6.922.810 Crude oil prod (bbls.) 7,073.210 $286,900,000 $346,400,000 $374,800,000 Engineering awards 91 4 97 8 Paper prod ( ' of cap ' 90 0 96 0 90 O' Paper board piod 24.397.172 13.483.960 23.272,220 Stock sales (shares $35,445,000 $39,016,000 Bond sales (par value) $27,466,000 409 :m ' Bus; failures ( number 119 2 1200 120 0 Wholesale prices BLS index) 072 000.000 15.361,000.000 14.203.000,000 ) tc kwh po c rod $27,140,962,000 $28,689,353,000 $23,785,348,000 Bank clearings $h0, 680,000.000 $61,955,000,000 $60,616,000,000 gemand deposits Ioann $31,074,000,000 $31,150,000,000 $29,941,000,000 $432 000.000 $628,000,000 $545,000,000 Excess reserves $17 429.000.000 $17,441,000 000 $19 433.000.000 gold stock $905,000,000 $835,000,000 Brokers loans $779,000,000 $31,805,000,000 $31,774,000,000 $31 599.000.000 Money in circulation $850,000,000 $66,000,000 $179,000,000 Meipfrer bank borrowings Smith Inc. & , . v million 2 SIZES LL I HOUR TO 3 YEARS 1 320 WEST 13TH SO. , HU 6-72- 89 dollars. e plant, was promoted to techmeal assistant to the manager of petrochemical manufacturing. - - Major metals prices: Copper 29 cents a pound, delivered. Foreign 27S cents, nominal, New York Lead 11 cents a pound, New Yorkj 10 8 cents, St. Louis cents a pound, East St, Zinc 11 Louis, 12 cents. New York Aluminum 26 cents a pound, unalloyed ingots, delivered. Antimony 32 59 cents a pound, cased Hess than carload lots'. New York Bulk 29 cents, carlots, producers plant Magnesium 35l4 cents a pound pig fob. Velasco. Texas Manganese ore 87 90 cents a long ton unit (22 4 pounds', India ore, r i f US. ports, import duty extra. 11 cents a pound, Ferromanganese standard, carload lots, fob. shipping point Nickel 74 cents a pound, electro- tic cathodes. Port Colboine, Ontana u Platmum-$81.- s85 an ounce formerSilver 913 cents an ounce, New V administrative assistant to York, 79s. pence. London. Tin $1 OOa a pound. New York. Conoco president L. I. McCola flask (78 Quicksilver lum was promoted to manager pounds'. NeworeYork. $17.25-$175 A ton Tungsten section. of the firm's land unit (20 pounds), duty extra. C. E. GREENWOOD, - S208-52- 7 M7H iOOTQOi! s USE CAT EXCHANGE! 1, 1986. Monday. HOW TO MAKE REAL PROFITS USING OTHER PEOPLES MONEY ESTATE of Investors who Thousand chance to have passed up make money in reel estate who have' slued away from thta lucrative Acid for lack of were big sums then thought needed, are In for the surprise An of their lives exciting new study Just released shows small Investors 27 unusual Investment angles In use today reveals how substantial profits could be made on Just small cash outlays or by using other peoples money entirely. All this startling Information, lngenloua new methods, actual dealt worked out In detail for each adaptation am brought to light by William J. Casey, a leading authority In real estate, tax planning and related matters. In hie new book Reel Estate Investments and How To Make Them. Want to know how to eonvert a 3 cash equity Into 100 Income property? producing Would you like to close a deal that yields a guaranteed 7 net with as little as ten cents on the dollar of your own money? These are Just a hint of what you could do, of bow amazingly easy It la to set up ell kinds of profitable deala that banks and other Individ-fiual Investors will gladly nance. For example, you're shown how businessmen use front money alone to awing lush How apartment .house deals.ettrac-tlva Investors capitalize on of mortgage financing b' small industrial plants that . w- I l1 Bv Associated Press Manager Merrill Lynch Pierce Fenner . Last Week in Finance for Continental Oil Promotes 3 three-eighth- true-fals- e syndicate , mobile crane put into operation this week at Thiokol Chemical Corp.'s Utah Division promises to simplify hanKENILWORTH, CASTLE GATE NO. 4 and Clear Creek dling of the Air Force's ICBM mines all are making wide use of roof bolting, rock dusting Minuteman first-stagengine. See Page , Column 5 THE NEW VEHICLE, largest crane built in the U S., will handle many of the heavy lifting operations in the manufacture of the Minuteman engine, Multiple Choice level. - nL Plans to Retire "V V-t- ' - to 15 bonuses. 6 and has a payout. How syndicates buy up submerged land at $125 an acre, develop It at no cash cost end then gross $21 000 per acre A plan that averages 20 net profit after taxes on motel deals How to set up or buy shaies In a syndicate to cash In on shopping centers, cooperatives, hotels. ,etc How to make the most of leverage, use Investment trusts, multicorple corporations, two-shleases, exporations, atep-u- p to . . . how discover changes and size up the kinds of deals that let you pyramid profits by using financed capital. Not a word of this revealing book la theoretical. You get each step of transactions Involving real people, real profyou its, actual investments could duplicate on similar opMany portunities everywhere. of these methods were pioneered by men like Henderson. Zeckendorf end Hilton. In simple terms, Explained hlgh-prof- lt here are the teehnlquea that could same the touch fnaglc give you In real estate dealings. "Real Estate Investments and How, to Make Them" Is available for 10 days free examination. If you keep It you pay $12 50, and It would be a terrific bargain at three times foe the price. Write Institute Business Planning. Dept, RE-143 Weat 13th St., New Ybrk 11. N. Y.i for your tree trial copy. I pavs 10 Interest, HERE'S HOW IT WORKS: 1. Phene WHIILIR MACHINHY needed. CO. for exchange assembly 3. We ship a Bended" rebuilt assembly right ta your fob, 3. Return old assembly within 10 days. 4. You go back to work . . . pay only for parti anS labor required to bring yeur assembly up to standard. Write or call for free catalog of exchange parts Caterpillar and Cat ere Reg. Trademarks of CaterpUUr Tractor Co. F3B CATERPILLAR MACHINERY CO. SALT 990 WCST Sill UXI CITY, UTAH SOOTH HU DIESEL ENGINES EARTHMOVING 7 TRACTORS MOTOR GRADERS EQUIPMENT |