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Show N rr TT ' ( 9 Up and Down the Street Dow- - too Hourly 11 o m. Noon p ro. 1 VV. 2pm 3 pm. Total 4,280,000 $79 33 35 33 Bonds High grade rads 2nd Grade reds Public ufds. Industrials 11 96 Mondays Quotation In 100s iCIos. Chg ggs m iCIosei 10ft, ExCel iO Feirbks FairbWhy FchidStrat FamdyFn FerroCp 5 i; 29 2j 2' I 12! FirstChFcI Fhmkte FtaPwL FoodFair FMCCp Ford ForemstD 10 11 'a a sale of more stock to its shareholders. i.i.. V 1 1 a 'll 2 H 7 74 21 207 r 1. 37i 19 31i 1 r .626?L ' 4! .. 244a Gen Foods 'Genlnstr 11, 12 GenMills 4i 26' GenPbU 15 4! 2f 30 Later, this figure was hiked to three million dollars as the marathon struggle got under way. The principal stockholders of the bank then were the late Walter E. Continental Bank president, and the Cosgriff familyCosgriff, of Salt Lake City. ArizonaPubS The bank objected that the FRB did not have the author- ArmcoStl Armour ity to cause shareholders to contribute to capital in a manner Atchison AtIRef dictatedriay the board. There" were no rulesr nor law, which AtlasCp AvcoCp gave the FRB grounds for such demands. Penalty for Babcock was forfeiture of FRB membership. BaMi Hm THIS PRINCIPLE WAS NOT touched on in the decision b.im0 announced on Monday in prepared statements by the board. The bank had won a favorable decision from an examiner under administrative proceedings. But because it was confronted with further such proceedings, it was not able to get Jts issues tried fully before a federal court after six years Bestwii of litigation. Since 1956, the bank had added two million dollars to its jBikJ.Dk mui capital accounts from retained, net earnings; 1 9 Under the plan suggested by the bank and approved by the board in the settlement announced Monday, Continental Bank at the end of this year will have capital account of 6Va million dollars an increase of three million dollars over 1956 levels when the issue was joined with the board. However, only $540,000 of this total will come from a sale of stock to bank stockholders. Mr. Sullivan outlined the plan as follows: GaPac 12H' 42' Ho.!! 1 L 5 2 3 2n 31 4 43 m 19 39 IV Burund Burrgh Goodrich Goodyear GraceWR iGravsnR OtNOre GtNOfRv GtWSus Greyhound 36 37' 80 33 261 27' 36 3 7 10. 29 V Hershev Hilton HoftEiectr Homestk HouseF 32 23 10 HoweSd HudBayM IdahoPw IdealCm IllCent IngRand InlandSt InspirCop Intlakc Gold (x)aSncudes & Standard NEW WORK, 0 i372.683.903 debt not sufaiect 28 25 55 31 56 38 FALLS Potato offerings small IDAHO size liberal; other moderate; many from prtvious sales, small sue other light, market slightly weaker; russets stock demand slow, market dull; min. 100 lb sack U S. I not or 2 slie A, too few to 10quote; U S. 21A 60, oi larger 0 per cent 50; 2 2 cent 2.60-per 90; cent 0 per z 1 85-00; 90; 2s mostly mixed bulk per to 1 growers, prices min. ln or z cwt pack out basis to be washed-2-1 occamm. at growers' cellars, U S. min. 00 ; 2s Including sional tales 1 mostly 1.00. Dairy Market by loose A dozen). Large make Air Travel, Rail Traygl, Skip end Bus Travel Travel easier for You. Also make all hotel reserva- tions anywhere In the world at Cvr rant Rata. Our services or FREE. JACK CALI THOMAS TRAVEL SERVICE Newhevse Hetel lobby Hm EM EM 24J 115 30' 36l 18 231 46 71 50 ' 17i 2231 34' 1 1 4 - 12 66 4031- - 121 251 321 I1 3 '2 H 3 4 '2 31 17 105 4201 4 47! 10' 4 67H' 3951 - 42 54' 551 Va 1( la McDonnell McGrwEd McGrwHI McIntyre McKess Mead Merck Merritt 41 A1 V i 22341 53 36 344l 6731 1 4 1 2't 11' 30' 7 76'! 47'l 27 13d 3934f 2 7 H 2'2i A 31 77! 43 17! 293aI 86! 9 7! 121 NatOR NYC&SL NYShipb NoAmAv NoPac North rp NwstAir OhioEd OlinMath OttsEi 3034 25Va!-- 37 7191 5151 229i j9 7! H Tn 714 1 36val V4 63V4 49! 6! 11! 29'?! V9 Ai 14 562l 4131- - 2' 26V? 72' 20i 307l II 12' Ul 16) Norf&W 1 25'!- - H 17' av A 19 263! 5211 67) v4 '? 41 1 19' 97 61! 62 351 311?i 56 26HI- 51 11 34,756,241,922 296,473,719,452 17,301.134,836 'a, grade 4 A 1 V? 27! 421- shares; 1962 H date, 778,204,000. SELF-EMPLOYE- 904 8J5 3 01 ' 1466 4 88 12 04 12 5 33 688 744 1 13 It - 21 3 47 10 77 t 3 4 90 8 11 11 01 i 14 28 81 11 71 i 533 889 12 418 26 .28 06 1.18 k of presenting D PROFESSIONAL MEN "AVERAGE"? The favorable R Par alt ran Comptoa lm of lniioa ParM fa, Amartcan and farriya tar. -- PS and A GMC Dovblr Achaa 9 Shack Abiorban ap 1c SO by PyraH . . Map all Maak-i- n fast. FUEL PUMPS far all cart. 30 p m. Tuat. thru Saif Sunday 10 a.m.-- 5 p.m. 10 a.m.-- 4 WESTERN AUTO PARTS 1334 South Statu 06 4 57 11 1 ir 96 87 9 51 7 77 BUSINESS AND YOUR 1 tn ber of branches not counting ' four military offices! 965 WHAT WAS Net Change ALL CARS THERMOSTATS ITS NEW Foothill Drive office in suburban Salt Lake City will be opened in November, bringing to 79 the num- 21 90 16 85 ?sFREE It 03 87 8 72 7 09 How does your investment record compare with that of 15,000,000 other common shareholders? You will never know, of course for there is no such thing as a published record of individual results. On the other hand, Mutual Funds (who are investors, too) publish their results periodically. You can and should make a personal vs. mutual fund comparison., We suggest it is worth your while to do this now, as the , market enters a new phase. Simply mail the investment indicating your personal objective. At no obligation you will receive the data yoimeed to compare your results with those of professional, full time fund managers seeking similar investment goals. -- provision previously characteristic only to company and corporation pension or retirement plans are now available to the You owe k to yourself to get the facts immediately. k may pay you weH to investigate now how YOU Individuals may benefit from the Tax Retirement Act of 1962" recendy enacted by Congress and signed by the President. coupon-below- AUTOLITES over V4 65 A TEMP 8,569 significant importance to SPARK PLUGS HI tors, an increase of levels. 1961 Produre Market This message limit. 27 The First Security svstem now has some 361,000 deposi- CHICAGO, tOcf 29 (UPD Produce Live poultry Roasters 26'V28''?; special fed white rock fryers heavy hens 10? CHICAGO, Oct 29 (UPI) U S Cheese active, Hogs 9,500, moderately Single daisies long17 00 17 50 2 lb butchers No horns 4M? 42'?, processed loaf 75 5 lb sows 14 40 lb block mixed No Cheddar brick Cattle 11.000 calves 25, bulk high 39 43, muenster 0 swIss lb choice and prime steers 1,150-- 400 lb blocks); grade A grade B 31 25, bulk choice heifers 850-- 0"0 grade C 38 44, (wheels): grade A 48 52, 00 28 9 lb utility and commercial grade B 46 50 cows 14 75 17 25, utility and commercial Butter Steady 93 score 57'; 92 seort 00, standard vealers 20 00 57' buds 18 car-lo2, 90 score 56'?; 89 score 25 00 90 score 57 V4, 9 score 57. Sheep 800, moderately active slaughter Top Eggs choice and grades lambs and ewes steady, steady, balance lb native wooled slaughter easy White large extras 37, mixed large prime 00, lambs 20 package choice and extras 35 ?, mediums 24V?; standards 32j dirties with 100 lb lambs shorn 26?, checks 25 slaughter prime 1 No pelts 20 00, cult to good wooled Potatoes Total U S shipments 660; ar4,50-00 ewes slaughter rivals 167, track 182, supplies moderate; demand good, market firm to strong. s OMAHA Hogs 13,000; 1A unless Track sales (100 lb U S 25 and gilts mostly strong to hign otherwise Idaho Russets 4 IS; stated). r, sows steady to 25 higher No 50-415-- 4 3 Russets 60, bakers Wisconsin 7 2 7 0 50, lbs and uniform 25 190 250 lb 16 mixed 25; sows 0 50-0 lb 15 4 Street lbs 15 5 75, Russets 65, 50 bakers 5 00-- 25, Washington Russets 4 25--4 4 4 Minnesota-NortCattle 19,000; calves 10,000, steers and 50, bakers 75, heifers mostly steady, cows steady to Dakota Red River Valley round reds lb 2 65 2 90 25 lower; high choice lb 29 50 steers 30 00; choice Onions Arrivals 13, track 2V; supplies 28 00 lb heifers high choice light, demand moderate, market steady. lb 27 75, choice mostly utility Track sales Nona reported. and commercial cows 14 6 50 lambs about Street sales Colorado yellow large Sheep 4,500, slaughter steady, ewes steady, choice with small 1 75-- 1 85, white large 2 85, Idaho yellow end prime 100 lb shorn lambs No 90, Midwest yellow globe large pelts 20 50; utility and good wooled medium Michigan l 50, Illinois large 25-50 ewes 6 50-- 00 50, medium V lVd 3851 1 2 26 4 - 29 2! 63' V2I 33'V 42! 2 62! 7! 121 487 12 NatDainf NafDist NatGvprp NatLaad NatSteel NewmtM NewpNsh NYAirB NYCent 1 21 124' Mission MissRFI MoKenTex Monsanto MontPw MontWard Motorola MtFuel Murray NatAvia NatBisct T4 1 8 40! 341 ve 32 85, lot choice1 270 lb heifers other choice 225 285 lbs 30 50 32 50, choice 310 lb 30 30, several loads lbs 29 50 30 25, lots choice lbs mixed good and choice 9 00, medium and low good 20 Livestock trading Los Angeles area feedlots week ended Friday, Oct 26 Direct trade tor slaughter steers slow, strong to 50 higher, heifers slow, steady, heavy shipping of packer owned and cattle, broad in previously purchased and well finished qulry tor close-out- s cattle; available supply in strong hands, no confirmed prices of out of state buy ers in local areas, slaughter steers choice 1,050 1,075 lb 26 75r mostly choice 50. current lb 26 through 15 delivery, Nov choice 1,300 lb 26 25 lb 26 50 choice with good end for January 1963 delivery; heifers mostly cnoice 956 lb 25 00 rail basis choice 950 lb live weight 42 50 V 183 56 751 IV MidSoUt - 50324 304 2' MarshFId MartlnMar 2I 34 31U1 413 33 12 15 16 9 9 8 4 .but--wh-- 12.56 11 62 11 14 14 55 15 69 2 74 13 49 11 14 THE "BIG contributing factor to the higher earnings was the substantial gain m loan volume, he said. As of Sept 30, 1962, the banks in the First Security system had $362,288,862 m loans. Average dailv loan increased by $38,400,000 over a year ago period. IN THE 1962 nine months. First Security banks completed 91,124 loans, totaling more than 419 million dollars. In the like period a year ago, the banks in the system recorded 88,786 loans. The loan increase was in all categories. AT THE END of the nine months period, the banks weie servicing 110 million dollais in mortgage loans originally made by the lending institutions FOOFlgagea-habeen sold to other in- - 7' 49'l-19- 52 J J 00 IX, 10,252 'ry. 200, barrows and gilts fully Hogs steady to strong sows steady 3 Barrows and gilts several lots No 18 35 18 60, 190 235 lbs bulk lots mixed 00 I 18 18 3 and 2 and 3 190 240 lbs No 25, No lbs 12 00 14 50 and 2 and 3 500 lambs fully slaughter Sheep steady to 25 higher, slaughter ewes fully steady to 50 higher, feeder lambs steady to strong mixed choice Wooled slaughter lambs lbs 20 00 20 60, bulk land prime 00 mixed good choice 80 115 lbs 19 and choice 80 115 lbs 18 75 19 45 Slaughter ewes cull to good wooled and 90 some fall Shorn 4 bulk choice and some Feeder lambs 17 85 lbs 95, mixed good 60 fancy 00 and choice 50 80 lbs 15 29'4, 1411 334l 331 4651 741 243 22 21 22 144 5 2P41 11 14 ,nv, 50 24 4, 20' 30 - Ismail few load and bulk 2 2 153' jiiny',nyy'-ii- 26 Medium 34; We ore here to 34 I 2534. 8' 2I Egg Market TRIP? TAKING "A 1 14 1941 LOS ANGELES, Oct. 29 Eggs: prices to retailers f.ob. distributor plents (dellvsred 1VS cents highsr): A extre large i, AA extri large A large AA large j, AA medium B large AA smell 241 A medium, consumers AA i, A smell AA medium A large large A AA small A medium small roasters Poultry: try art 16.42-1wtd avg 5.30, hens light type hens 6 Wtd 28; evg turkeys young cross hens 23, young toms 20'o. to Butter: prices rteller,'grede AA 1 Cheese 40 lbs Rindless Block 38; J lbs Sandwich Loaf 42; Mild Longhorn 4Z 90 Butter; 93-- Score 71; 92 Score 69; Score 68. r Oct. 14, 6.479,192,584.15 t 26.484.922.837 58 27 86 54 45 55.72 57 88 65 54 02 55 34 27 07 Potato Market Eggs (prices Grade AA 43; Low High 58 93 Industrials Railroads 50 Utilities 500 Stocks 425 2 V 256! 101 24 21 12l " feeder Calves vealers 500, steady, calves active, fully steady to 50 higher, receipts fully 80 per cent feeder calves Vealers good and choice 24 00 28 00, 00 standard 20 small showing choice Feeder calves 33 25 33 75, two loads 225 290 lb steers sev- 5 lb steers 33 00 33 20 choice lbs eral loads and lots choice 30 50, bulk mixed good and choice 300 500 lbs 27 00 30 25, yiedium and 22 00, with moderate showing comosrtd Troosury Close 2 12i 447 431 56' 121 127i IptRectif IntResist 13 344?'13 470 LouANash Lukens MackTrk Macy MadFd MagmaCop Magnavox Marathon MarqCm Poors Closing 500 Stock Index Oct. 29 (AP) 2 '4 22 Total New York stock tales Monday, 4,280,000 to statutory 2 ' I3 "t J? Broad Street Inv BuTiockFund'' Can Gen Fd 154 caned.en Fuito Inc Ca ln Grow chemicel Fund Comwlth Invest Diversified Gr Stk Fd DlverslflK) Dividend Shares Dreyfus Fund Eaton & Howard Bai Eaton & Howard Stir E lectroncs Inv Fidelity Cap Fidelity Fund Fncl Ind Fund Fid Trend Fd Founders Mtl Fundamental Inv Group Com Stock Fd Hamilton Fd Hamilton Fd H DA 50 ifew good and lbs 16 good 500 choice 2 end 3 veer old' heifers and young stock cows 18 00 19 90 several loads good 50, bulk medium and aged cows 18 00, common 11 50 good aged cows 14 H 16HI 384i U.S. Treasury Oct. 24, 1942 $ 7,200,502,967 44 30,856,799,055 53 38,343,518,343 31 (X) 303,190,281,917.55 1 6. 018, 077, 493 23 h4. 37s Litton Lockheed When the (Washington, D.C.) Court of Appeals ruling could not secure in May of this year made it apparent that we and subseof hearings additional years such a ruling without considerable capital imour that felt we court review, quent made the economic issues provement over the past six years moot and the legal issues largely academic. RATHER THAN CONTINUE THE expense and litigation, a Mr. Sullivan said, it was decided to resolve the matter on basis. ; negotiated The stockholders of the bank will meet Nov. 15, 1962, to the authorize the issuance of the added shares. Including will have stock dividend and the new issue; Continental then 351,000 shares outstanding. It K 6 45' 4. 14 steers 25 50 26 60, mostly choice 700 810 lbs 24 60 25 30, bulk mixed good 40, good and choice 500 750 lbs 23 ana choice 750W lbs M 00 24 50, medium 00. end low good 500-- ,000 lbs 19 lb hberel volume mostly medium yearling A 54 5 448 28 35 20' 7 14 33 Hi 31 53U 501 1 7 2 2 00x-- 1 V 527s 3634 12' 4 L 5 ? 2 23 7 71 Ltgg&My LilyTuI ' LlnkBIt Felt Economic Issues Were Moot of - ,24 257 71 THE BANK EXECUTIVE SAID the settlement was in the "best interests of stockholders and customers. We have devoted the past six years and expended time, of our position. . . . energy and money in the constant defense That position, he said, was that our capital accounts and would would continue to increase from retained earnings From the and in loans deposits. keep pace with our growth to secure a judicial rutagas to we have sought beginning, of the Federal Rethe authority of the board of governors standards which it the and serve System as to the premises must apply in determining capital adequacy. 1 IV 43 Korvette Kresge Kress Kroger LearSieg Lehmann 1962. - 40 207 24, 35' 5' 31'4 JonesALgh JovMfg KaiserAI KelseyH (Apparently, they did or will. Continental Bank stock market Monday.) rose to $44 a share on Mr. Sullivan said the banks management "believes that the agreed settlement .will provide the bank with a capital position clearly adequate to meet any possible adverse economic situation that may arise. We, of course, plan to continue the sound management policies which have made it possible for us to add nearly 2 la million dollars to our capital accounts from net retained earnings between 1956 and the end of Balance Deposit fiscal year July Withdrawals fiscal year Totat- - debt V 3t KimbCI position 1 8j4 344r 22,27'i- 4 3IH1 1H 74i 6 KerMcG cash 31 71 Stock Price Rises to $44 a Share l'4 op-fo- 775-- 6 12j 12, IsICrCoal JewelT capital stock. Mr. Sullivan said that since the current market price for Continental stock is around $40 a share, we anticipate most stockholders will desire to take advantage of this opportunity. W ' 23l 4 8i 2 9': 50 1 40 18!j 4, 34 25 35' IntHarv IntNtckel IntPack BucvErie 28 19 IBM 3Iillion Capital Account to Reach $6 GenTeiE GenT4R payable Dec. 12 to stockhold-reporteers of record Dec. 1. THIS PAYMENT brings the corporation's 1962 distribution to $1 a share, compared to 95 cents a share during 1961. in 1961 and Additionally, 1902, directors declared two per cent stock dividends, paid in June of the two year. FIRST SECTRITY Corp. at end of September has 2,615,709 MONTHLY DATA Oct. N HI 146 m Km shares outstanding, as against 2,550,829 at that date a year ago, as a result of the stock dividend declarations. r The increase in the net nine prating earnings S543.951.181. months of 1962 were after taxes of $3,874,310 and pa THIS AN IS increase of OGDEN (AP) Cattle J.000 jHugbter m steers and heifers moderately active fully like ment of a record $6,117,460 for oer figures steady; cows moderate, generally steady, a term ago. feeder cattle fully steady year Recepts less than 10 per cent slaughter steers and The earnings were an- - THE INTEREST payments, heifers; near 30 per cent cows and bulls, ,, , e hlke in ilQUIiml Al-JFCb tilling ffO HI ba lance JJUartrl of into rates Directors directors. effect by banks put lbs 25 near 1,000 lbs at ing 50, load dtHlai od a semiannual div- - on Jan. 1, 1962. were up $1.666.-- , 26 50, borderline and low 90x?. is ldond of 30 cents a share, 792 during the 1962 nine 23 00, standard generally 21 00 23 00, 19 tew utility and months, Mr. Eccles reported. 050 lbs choice Slaughter heifers This increase in interest 25 bulk good and lowhtce Mutual Fund to our 'savings Cus750 1,050 lbs 23 00 25 00, standard mainly payments 20 16 75, utility and come through our tomers has Monday's Quotations 00 banks paying the highest ' Cows and standard Bid Asked 16 16 50, bulk commecial 00, rates allowable tinder governS 95 78 $ 10; cutter 13 40, can Aberdeen utility U 39 ment regulations and also as 25 6 83 Affiliated Fund ner 10 Am Business 404- 4 37 Bulls high yielding commercial 20 00 Atomic a result of the increase in the 3 44 Phy Sd Fd 20 90; bulk utility and commercial 17 80 A 5 12 4 71 amount of savings deposits in 19 70 B 8 n- 746 our banks. Mr. Eccles said. Feeder cattle mostly choice 500 700 lb BostonFund $5$ 9,34 Corp. Monday net operating earn- ings of $4,594,517 or $1.76 a share for the nine months ended Sept. 30, 1962. GEORGE S. Eccles, president, said this compares with net on like basis for the same period a ypar ago of $4,114,363 or $1 62' a share. Share earnings are based on average number of shares outstanding. Resources of the area bank holding company reached an high of $629,020,198 and avetage total deposits of affiliated banks in Utah, Idaho and Wyoming amounted to teedee-c-eW- er 1 GenMotors- Figure Was Raised to $3 Million First Security 3Iarkets 4 .i First Security Earnings Gain Dtpt Store Livestock 1 31H 7 ii It 197 4i 15 FruehTr iGardDen GenAccept tGenBk rOriginalIy1lheFRBasked.lhat...CPntinentaLmcreas.eits; f UnH P m hv OflA find nnn.Knlf w iIIiam 4.11n m. 4Ui 7'4j 22i 43. 57U 34 ... Chj. ( 35', ''t 10 4, v 31 25 27 27 15 21 - I 119 21 35 Voi Close Hign Low Ind 470 000 586 59 576 13 579 35 10 Rads 60 800 120 50 118 84 119 28 0 Utils. 59 800 116 88 114 37 115 45 2 590,700 204 51 200 85 202 09 3 Comp Commodity futures mde U2 9 - mar The Salt Lake Tribune, Tuesday, October 30, 1963 SIGN OF THE TIMES Department store sales up but stock prices lag. Jones Averages Furnish by J A Hog e Co. S, Mcmbtr of The Now Yore Slock x change Voi Indus No. secs, traded 770,000 579 77 Advances 1,970 000 579 40 Declines 1650 000 579 41 Unchanged 1330 000 500 46 New hgn 1720 000 New lows long-standin- WASHINGTON, Oct. 29 (AP)-- Th with corresponding date a year ago. rigru. i Monday's Quotations Bemick Tribune Business Editor capital adequacy battle between ContiSL?ytalld nental & Trust Co., Salt Lake City, and the Federal Reserve Board came to an end Monday. K. J. Sullivan, the' banks president and chief executive officer, announced, We have successfully concluded a settlement of the Continental Banks controversy with the board of governors of the Federal Reserve System with respect to capital adequacy. The board, for its part, said: In light of the banks current capital condition and the banks plan to increase its capital funds within a reasonable time, the board has concluded that there is sufficient to terminate the ground pending administrative procedure. 1 V - New York 'Stock Exchange Continental Battle With FRB at End By Robert f 9 J. A. HOGLE & CO. Members Mew fork Slack Exekmge mi Other trmcifei Exchanges 132 SOUTH MAIN STREET SALT LAKE CITY, DA g 8411 earby offices in Provo, Ogden, Pocatello, Idaho Falls Gcnttamn: At no obligation pieue rnsfa detailed mforrnstkm enabling me to s. compere my investment results with tboee of profession sJ mutual fund Mr investment objective is: Mars current Conservative income mid Growth possibility -moorne Igrowth possibility future income Kamo. Address . Information k for rui denes only As in tbs m no aasuranoa of achievswumt objective. Come in for information 7e will gladly help answer many practical questions 'that confront people in taking adthese of tax Oar savings. experienced Trust vantage at pust performance, tbere SERVICE Service ties your business machines to our telephone lines. The result? Incredibly fast transmission of all kinds of business information between offices or plant wherever they are with dramatic savings e in time and money. Our spe cialists have the complete story.' At no cost, we will visit your office or plant, explain Data-PhoService, survey your communications procedures and demonstrate with facts and e can be profitably taifigures how needs. We are doing this for lored to your other companies; we can do it for yours. Data-Phon- e Data-Phon- ft y--- ne Data-Phon- Officers will assist you. without cost or obligation. In Salt Lake City, call Trust" Department FIRST SECURITY BANK F)rt Sowrtty Rank of Utah, N A. IxM Sacuray look aTldaiw, e WMONE -- , L . I i , 328-793- 1 and ask for a Communications Consultant - In other communities, call your Telephone Business Office. WJL. MOUNTAIN STATES TELEPHONE ' f. & |