| Show Outlook on Budness Major Utah Companies France Keeps Sharp Eye On Wall Street's Trends I J i - In the movie "Funny Girl" PARIS Vhich is showing here Nicky Arnstein the gambler enters suave positive ancj full of the joy of life Then his luck turns He gets in - debt self- His esteem judgment and poise disinte- - 4 grate I after nrQ rt I economic Dolicv Mr Livingston So it is today with France Not the gambling part al--j though critics of former President Charles de Gaulle argued that he I gambled for gold with the French Etan-- Idard of living that he put monetary reserves ahead of social reform and prog- ! - ress They go on to say that his stringency and on the student riots brought demands for higher wages which toppled economic ! France from I equilibrium Consequence: A flight of j capital the halving of French monetary no j reserves and forced borrowing and I devaluation I d I j Crucial Periods ! I've had the good journalistic luck to m rans lautwg 10 iikhwi ment and banking officials at three cru- cial periods: 1 TWO years ago wiieu riemu 11 —of a nAalr Tha Via Gaulle could imperiously bar Great Brit- ain from the Common Market He could turn in dollars for US gold thus causing De t ' t ir - tTMil rvuuiu C Vo TT w Finance et- in Sunday August 10 1969 Now— Section C Its mPOld Troaciirv nprmit f--- vwuj TV Device Puts Missile on balance-of-paymen- Nose of Target New York Times Service ts early 1968 it was generally assumed that $1 to $2 billion a year might be issued for the first five years But late in the John- WASHINGTON — How do you direct a guided missile at a vital enemy installation? Why you just give it a picture of the target and send it on its way son Administration the US raised the to $5 billion a year talky-tal- k Thus the agreement to create $35 billion in ths first year and $3 billion annually the next two years represents a bargaining victory for the United States European countries got more than they Akron Goodyear Aerospace Corp Ohio received patent 3459392 last week for what it calls its "sceneseeker" The equipment is undergoing engineering development and will be offered to the Air Force wanted! Recently Release Papers The inventors are George R Buynak a Goodyear engineer and Roy K Paxton a former company engineer now living in Sarasota Fla They applied for the patent nearly 10 years ago but the papers have only recently been released from secrecy As the patent explains a manned aircraft carries the missile within visible range of the target which may be an enemy launching pad up to 12 miles Hope for Best Though critical of US use of power "The Americans are behaving like all great powers" — this same official hopes for the best: "SDRs won't correct the US problem — — inflation Ogden Page One "For instance the Census Bureau in said consumption was 210 pounds of flour for each person In 1964 it was Passes Guidance Corrections The missile is released under its own power — perhaps a solid fuel rocket The picture and the continuing television image that the missile "sees" are constantly compared and guidance corrections are passed to the direction controls As the distance to the target decreases the image gets larger and the effective size of the picture is increased accordingly It is calculated that the missile will arrive within a few feet of the object at which it is aimed (Copyright) garaNt J J DC BRY COMPANY 2335 SW Temple 487-323- mt w m4 tm 7 mwy fill Wheat from Other States am ° y-f- iff t " " y-'- IMMMM M M MIIWIII M 111! — Trlbunt Survey Indicates PI of Slowing Business Pace Staff Photo by Earl O Conred make costs prohibitive" Moderc milling has evolved into a far different hybrid cousin of the small neighborhood mills which once abounded across the nation like spring dandelions The two millers said they no longer perform custom work that is grinding a farmer's wheat for his own personal use But the smaller mills in Utah come close to that Floor Exchange 5 O NEW YORK (AP) — The business pace shows signs of slowing a survey of purchasing executives indicates The National Association of Purchasing Management said its July poll of grain is Partially-processe- d members reveals "a stabilization or contraction reminiscent of the start of the 1967 quasi recession" amined for quality ex- uniformity Production in July d jtllpii They will help you hold on to Wheeler Low Bidder On Sewage Dynamo The apparent low bidder on machineiy to generate electricity from gas given off at the Salt Lake City Sewage Treatment Plant was Wheeler Machinery Co The firm bid $177932 compared with a city engineer s estimate of $178799 city commissioners said Sifted flour is examined as it moves to storage bins prior to 1 Acrylic Floor Mots packaging The industry trend is toward fewer large flour mills Defrccfnjj It Standard or Custom electronic ekgs Sizes r43jj1ii- Receiv a $1000 CASH BONUS on your first $50000 pinnteed 840 So Main iwpbjy? v : l Time Certificate Each additional $50000 certificate will receive a 1 CASH BONUS Open or add to your Interlake Thrift account today Earn the highest rate paid in Utah Compounded c : " ii SHOULD YOU BE LOOKING FOR A BETTER JOB? y Bocouso of a lack of advonctmont potential-lo- ck defonto Indujtry InOability— or perhapl location more tuitablo to your family FINEST LINE SUPPLIERS of w geographical challongo-lo- a better for Architects Engineers and Draftsmen Sr — " I MAIL THIS COUPON coupon entitles bearer to cash bonus determined by the number of Month Interlake Time Certificates purchased I Name This 'If ik 245 So Stat $ Zip tnJosed Security Number Place my cash bonus in i 5:' is my check lor rwP ' We Are Personnel Recruitment Specialists £f w City Social ' j Addrcrs jrwMwwti ' J Sin- - representing induitry in the Intermountain and Wert Coast areai of tbe United Stales Cor services are CONFIDENTIAL Our employer clients pay our fee interested persons should deliver or moil their resumes to the: Bureau of Personnel mipjs Salt Lake City Utah 84115 363 East 33rd South " '"ri '"' "VV1 rn wni m EVEN H 486-208- ADVERTISEMENT COUPLES RETIRED PEOPLE! 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Each receives a diploma LIMITED FREE - - - 1 — — — i Mail Couoon or Call (303) MOTEL MANAGERS TRAINING SCHOOL (Dept Nl) 4455 S Broadway Enqlewccd Colo 80J10 Mail FREE BOOKLET cn hew t can be a MOTEL MANAGER am Jnder no cb:iga!ton — Name — Address 4S6-005- 3 2 Wail my cash bonus direct M LAKI CITY UTAH ADVERTISEMENT WOMEN MEN ADMINISTRATORS Interest SALT - TECHNICIANS ENGINEERS SALES REPRESENTATIVES m X 2300 SO MAIN tl MACHINERyUdVCOMPANY WESTERN ROAD SERVICES I SUPPLY CO M Good Running Condition V $5200 bucktt and itrvict PRINT MICHIGAN LOADER D Modol 125 A wWauketha gat origin torqu convortor drivo powor shift trant powor braktt 1400x24 tins NICAL DIVISION Cvttomor Parkins p" Moral one-thir- Protect from our four divUiont LABOR DIVISION KfUY GIRt DIVISION MARKETING DIVISION TECH- 3 Officials said the machinery will burn "sludge digester gas" given off at the d of the plant to produce about electric power used there V diom D9AL flour exchange" says manager of the Lehi "Farmers bring in their grain and we give them flour to take home" The Lehi mill is one of the smaller ones in the state employing about eight persons p M 364-782- a wifftouf frffMt A1A Forms 6 Clearprint Papers David White Instruments Frederick Post © Hamilton Rolatape Vemco Furniture & Supplies Complete Reproduction Services "We do have Sherm Robinson Roller Mills commercial bakeries require uniform flour mix Highly-automate- GUARANTEED TEMPORARY HELP featuring Grain Availability Availability of grain is also an important element for Utah mills If a drought hits wheat crops in Idaho then mills have to reach farther for grain to Montana or even Kansas — "which could e rates round the clock Milling capacity in Utah exceeds consumption but West Coast buys surplus Duane Caddy head miller for Colorado Milling & Elevator Co checks machinery at the mill which op- - m— Equal OvpoftoftHy The wheat milling industry is the reverse of some Mr Cunningham mining operations which ship Utah's raw resources out of state for processing Instead much of the wheat milled in Utah is obtained from Idaho western Colorado and Montana The grain is then shipped into Utah for milling shipped out This hauling has serious impact on milling however Noting the tight competition among mills Mr Stoker said: "The slightest change in freight rates can make or break a market for us" "We're very dependent on the factor of freight rates" agrees Mr Kern e tlllkiCltUtliM10I 328 B926 d well" trr-M- Ciil today for 100 state Utah-mille- T" nt tft kr y John M Stoker plant accountant and control manager at the Pillsbury facility said his company markets more than half i ts products in "Some Californir of our product goes to the Pacific North west as ANSWERING If Ml Omr at MfTte Hm 10-1- Despite the dclinc in individual contotal flour consumption is sumption about the same because of the population increase "The curve for total consumption is surprisingly flat" Mr Kern notes "You'd be surprised at the change in milling The industry has moved from "We rely on California for marketing" he said "One of the large mills in Utah could not run full time if it relied solely on Utah for its business ——TELEPHONE— DM1! 150 Employes Colorado Milling employs about 130 in Utah Another large milling operation operated by the Pillsbury Co at Ogden lias about 125 employes Mr Kern says total milling capacity in Utah exceeds the local consumption of flour Both Colorado Milling and Pills-burship more than half their products out of While the summer slowdown usually reaches its bottom in July the aslocia-tio- n said the current shift from growth to decline in both new orders and production is not normal The survey showed that 22 percent of the respondents felt that in July new orders were better 50 percent found them unchanged and 28 percent felt they were Corresponding percentages for Thus the Gaullist view persists in the worse 27 48 and 25 June were Pompidou Administration But a concern As for production in July 19 percent has been added — a concern for France said it was better 56 percent unchanged As before the French government This compares urges a policy of disinflation for the Unii-e- d and 25 percent worse 59 30 of with and 11 in June — percentages States but not with the same equanimity as when French monetary reserves Cost of Money amounted to $7 billion A US slowdown might become a "Tight money fiiid the cost of money turndown — a recession This would inbrought on by continued severe inflation dominate the comments ot our tensify French difficulties France too is trying to curb an inflationary spiral members" the association said This can be done with the least domestic "The money crunch receives most of the blame for Inventory pressures curpain if other nations are expanding Then when internal conuimption detailment of capital investment a slower clines increased sales abroad will take new order rate and a growing curb on both industrial and residential building" up slack and cushion unemployment The pilot points his craft and the missile at the target A television picture appears before him and a duplicate is recorded in the missile hundreds and hundreds of small mills to a few large ones usually close to large consumer areas "It's extremely competitive the Midwest has suffered most" "The reason for this is more affluence Society is changing from flour and beans to meat tind vegetables" your gold You can run deficits and pay — in part — with SDRs "I fear that inflation is inherent in any system that permits a nation not to pay its debts But if you slow down your inflation nothing extraordinary will happen" Concern for France away WHOLESALE SHOWROOM See you at the gift show Salt Palace Aug The two largest flour mill companies Utah agree — "'It's a competitive 1910 The shift in France — from strength to weakness — is evident in two conversations with the same official Two years ago he said to me: "Why doesn't your country raise the price of gold now? You can still do it coldly and with calculation Why do you foolishly wait until you have to bow to pressure?" In one sense he was right In March 1968 the two-tie-r system for gold was forced on the Untied States Monetary gold has remained at $35 but free gold has risen to more than $40 an ounce Today that same official concedes that the US has triumphed — not because of its own strength and discipline but through the misfortune of other nations: "If students and trade unions had not acted up in France in May and June last year the dollar would have been in immediate jeopardy But the weakness of the franc and the invasion by the Soviet Union of Czechoslovakia strenthened the dollar Francs and marks fled to the US for safety Victory for US "The agreement among the group of Ten authorizing $95 billion in Special Drawing Rights is a great victory for the United States The French did not possess the strength to contest The Italians have no government The Germans had the financial power to resist but Germany depends on US troops "All other nations are too small or difficulties are in Most nations welcome a big issue of Special Drawing Rights So the United States had an open field" The assessment is valid When the legal document was ratified to create "paper gold" — SDRs — in down to 109 pounds" says Mr Kern who was in Utah 13 years before bring assigned to Colorado Move to Meat Vegetables business" "Fer capita consumption of flour is on a steady decrease" notes Robert ilern Denver vice president of operations for Colorado Milling & Elevator Co which operates mills in Salt Lake City and Shift to Weakness in in i Mines-Mark- after the resignation of De Gaulle and the election of Georges Pompidou as his successor — devaluation of the French franc has become necessary 3 — Hofoatc By Daniel K Cunningham Tribune Business Writer so" be it can nations defeats So wiih submit stock to go? 2 In April and May last year just before the student riots and strikes and just after the United States had to give up on the Gold Pool which fed monetary bullion into the capacious stomach of the London free market This for many French officials was an exalted hour of "I told you A Livingston Pulitzer Prize Business Writer By Flour Mills Competition Tightens In Decreased US Consumption I'ate City Phone - - At - Zip 4ef e &4& m'C e |
