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Show Markets Mines Hazel Finance Sail fake SYilmitr eond Section Saturdry Morning, November 15, 1969 Page 30 Corporate Profits Drop $3 Billion, Figure Cheers Inflation Fighters WASHINGTON (AP) Book profits of American before taxes, in the quarter fo the fir-- t time since the 1967 economic slowdown, the Commerce Depart- ment reported Friday. llippity hoppity, zippity dee, an egg lor you and a seven for me. Gulf Resources to Buy Out Pennsylvania Coal Finn Special to The Tribune HOUSTON Gulf Chemical Corp. and stockholders of C&K Coal Co., - Clarion, Pa., h;ve reached a.i agreement in principle for acquisition of all of C&K's outstanding stock. C&K Coal owns reserves of about 18 million tons in Pennsylvania. All of it can be strip mined. Robert Allen, Gulf Resources Chemical president, said the acquisition is another step toward diversification. Gulf Resources also is engaged in the recovery of west-centr- chemicals and magnesium salts from the Great Salt Lake near Ogden, Utah. h The firm reported net of $2,162,500, or 40 cents a share, compared to $2,670,100, or 52 cents, for the like period in nine-mont- income 1968. Third-quarte- r for earnings were $359 100, f'r nine cents a share, compared to $493,100, or six cents a share, for 1968s quarter. The latter does not include 1969 the firms sulphur operations, which sustained a $515,900 loss during the year. The profits fell $3 billion below the record set in the first two quartets to a seasonally adjusted annual rate of $92.4 billion. It was another indication that the governments campaign inflation is beginning to show expanded by about 21, percent. In a broad economic report, the department also noted that the federal government recorded a surplus of, $7.3 billion the third quarter, considerably below the $13 billion surplus for the second quarter. The surpluses a goal of the Nixon administration follow several years of deficits. The federal government figures are on he national tn- - high RDfiinr I , n in the period. Stock Prices Dip results. Dividend Payments The departments Office of Business Economics said after-tafor the earnings quarter would be $30 billion, down $1.8 billion from the previous quarter. And nth dividend payments up by $600 million, retained earnings dropped by well over $2 billion. At the same time, the department revised its preliminary estimate of Gross National Product for the third to a seasonally quarter adjusted annual rate of $942 8 billion, about $300 million above the original estimate. Recorded Surplus The increase amounted to 7j percent when spread over a years time continuing the pattern of the inflatonary years; 5 4 percent of that was price increases while real prothe of duction economy Declines Outstrip Advances In Quiet Day for Market New York Times Service NEW YORK edged lower - Stock prices in relatively quiet trading Friday as the best gainers on the New York Stock Exchange active list, R. J. Reynolds Tobacco and Commercial Solvents, outperformed tne traditional glamour issues. Declines ran ahead of advances by a solid ratio. But the slippage in the s Industrial Average was minimal. two-to-o- Dow-Jone- ging by more than three points at midsession. This week the Dow declined 11.22 points. Standard & Poors dipped 0.35 to 97.07 and the NYSE composites fell 0.23 to 54.33. Volume eased to 10.58 million shares somewhat below the daily average for 1969 from Thursday's 12.09 million. Reynolds Ahead R. J. Rtynolds, the second issue, ran ahead 3 its points to close at best price of the session and less than a point from its 1969 high. R. J. Reynolds, furth-hgR. J. Reynolds, furthermore, led the tobacco group higher as Philip Morns rose 1 Vi and American Brands added y4- On the American Stock Exchange prices declined for the fifth session in quiet trading. The index of stock prices dipped six cents to $28.25 as 555 issues declined and 300 advanced. Volume dipped to 4,014,320 shares from 4,152,601 most-activ- e 50, Four Setbacks The Dow industrials eased 0.59 to 849.26 its fourth setback in four days after lag- - nggsaw i '7 Department reported that manufacturers profits fell despite an increase in automobile industry earnings, which fell m the second quarter as a result of strikes but recovered against CURTIS FMTEIES zC come and product accounts basis, which excludes trust funds and some loans which appear in the Budget Bureau's unified budget. Corporate profits are a key indicator of the state of American business. The Commerce Trrbun State Groups Name Aide Special to The Tribune - LAS VEGAS Robert E. Halladay, executive vice ; of the Utah Manufacturers Assn has been elected ing. The National Quotation Bureau Index of 35 industrial stocks eased 1.63 to 438.23. GINUINI GENUINE A public hearing on proof posed construction from West Levan to South Nephi in Juab County will be Dec. 15 at 3 p.m. at the Juab County Courtnou'e, Nephi, the Utah Highway Department announced. Length of the proposed stretch of highway is to be over nine miles. slightly Route is to approximately parallel Union Pacific Railroad tracks west of the communities and west of U.S. 91. turers I cot ncrun mu n V 0 WAT CURTIS era FUll TW'N HI 46 A PD MODEL Your Choice Eintiftllf J. Rriutroduanq a lassie our oiin vool gabardine tint tilth coat. C out, test and trousers. $120. kMI $ a 42) IF NO 7 95 picture tub worronty b eftCjFwl edditirmi eott. run $1 2.00 i 1 n r" The smart look of our British-madntjlon umbrella. $S 50. Tradeivinds Phil L. Hansen has been elected manager of the Industrial Center office of First Security Bank of N.A. U t ah. . . . John L. P i I a t i has be e n named of manager the valuation and construction loan deof partment ald E. Thornton has been named a sales representative for Frontier Airlines in Salt Lake City . . . John S. Young has been named agency director for the Utah Farm Bureau Insurance Co. . . . Junior F. Stewart has been appointed agency manager for Country Mutual Life Insurance Co., Salt Lake City . . . Jesse R. Curtis, Salt Lake City, has been elected i a three-yea- r term on the board of directors of the National Association of Mutual Insurance Agents . . . Leon B, Riley, general manager of Rodeway Inn of Salt Lake City, has been elected presia dent of the chapter of the American Hotel and Motel Assn. . . . Donald L. Telerson has been named staff manager of the Ogdnn district agency for Prudential L'tah-Nevad- Insurance Co. for Sait Lake City. e 1 We have great things In store for you. Try us. fylalural ofliouLItr (Slolhtng 217? HIGHLAND DRIVE Salt loke City, Utah 4 5 'a A in i wmm j$ I? Astro Beil November 15, 1969 Terrace Ballroom 4.- -' v, v. . I'?.- - ) -- It The UTAH SYMPHONY 1080 EAST 21st SOUV I! Our complete inventory jn Salt Lake City is only poT of the story. This inventory is backed up by additional quantities and sizes available overnight from our Service Centers in Denver, Focatello and Boise. hlai k qum (Coimtrn 3 LvLbU 4265 Riverdalu Rd. in Ogden tent sit enter Imported from England. Assorted colors. SI 6. t 916 SO. MAIN ST. uorsted center 2. h ully fashioned u ool W.T. ADC ADD NOW 2 STORES IN SALT LAKE TO SERVE YOU jji JOOc three-butto- !249? Mr. Stewart Gate City Steel has great things in store I2MSM tyH prtiW ntk trryi M NfM MNNi Mr. Curtis WIDE 15" COLOR PORTABLE TNE CONTINENTAL! Mr. Young Mortgage Co., Salt Lake City D. L. Peterson . . . Harold L. Peterson, Salt Lake City, national representative for the American Dairy Assn.s western region, has been nampd regional manager with headquarters in San Calif . . . Mateo, F.nin Lythgoe has been vice president and director of market-m- g fnr V. Mancini & Co. local food brokerage . . . Ron MATHES C0NS01E fl SPEAKERS Mr. Thornton Salt Lake A SIZE 11 Halladay states. Mr. Halladay was elected at the 1969 conference convention at the Tropicana. He announced that 1970 conference would be held in November. 1970, in Utah at a site to be announced. The conference is made up of executives associations, and staff members. Your Choice wikwty iuoo woemotui high-ceilin- g Western 'r. NO FINER COLOR TV ...AT ANY PRICE! store. The second floor has been expanded into an extensive display area for office furwhile downstairs nishings, attractive shelving has en newly-remodele- d associa- tions in the Gentlemans Fashions WALNUT open-hous- hanced the office supply displays. Pembroke, which employs 77 persons at three locations, also engages in leasing and interior design, said Jack Pembroke, president of the firm. The design is highlighted by a lobby at the entrance to the building. of State Associations. The confer-enc- e embraces manufac- Nephi Hearing U It was like Christmas eve at Pembroke's, 24 E. 3rd South, e Friday afternoon as visitors toured the of chairman the 1970 Western Confer-enc- e Road Jobs Wait PURCHASING ENABLES. OUR DIRECT FACTORY-TO-YOUS TO BRING YOU BRAND NEW 1970 CURTIS MATHES COLOR TVS AT FANTASTIC SAVINGS Pembiokcs Lures Croml Manufacturers Thursday. The over - the - counter market ended mixed in ouiet trad- staff pheto by Lynn R. Johnson from the new second-floo- r balcony a' ove the lobby at main entrance. Pembroke has remodeled its store at 24 E. 3rd South. This view is GATE CITY STEEL 2500 West 9th South, Telephone: (8U1) s'- 328-b44- f |