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Show V ? anl Up Saif akf Down the Street pibuiu 'Busings Turn to Compact Models Finance et- Sunday, July 19, 1970 Section F Pag. One Busing a ness cat t a big step winch some Utahn aie apparently not taking this sear. the I tail Automobile Dealers Assn, repot ts. Accoiihng to national statistics, the sale ol new cais is down slightly fioni 1969 figuies, ranging from a low in January of lti pet cent below the 1909 figures to a June high ol 18 66 percent above the sales maih. means that there have been, Looking over the selection of new cars at Capital Chevrolet is Susan Erskine. Tom Cooper, saleman, fi-- Street. Bank The bond mar-- k e t extended its second-quarte- corporate headquarters. The early profit returns, if anything, were slightly better than anticipated, but many analysts were quick to caution against any premature optimistic conclusions. It still looks like a quarter for many companies. lean-prof- Small Dip From A flash computation it 69 first of the to disclose 140 fi- manufacturing companies nancial data showed aggregate earnings of $700 million for the second quarter up 37 percent from the first three months and a mere 1 percent dip from the good results achieved by the same companies in the June quarter of 1969. The picture, however, is distorted by over-al- l the fact that the General Electric results r (a profit of $98.2 million in contrast to a loss of $42.5 million) are included in the early tally. It) addition, many reports from the giant companies, particularly those in such heavy industries as steel, automosecond-quarte- first-quart- have not been issued and are therefore not included in the 'preliminary survey. (Copyright) and petroleum, and officers from 12 will be in Salt Lake City Sunday for the annual conference of the Western Bankers Assn, at the Hotel Utah The states of Hawaii and Alaska will also be represented at the conference, which ends Wednesday. Willis Alexander, executive vice president and former president, American Bankers Assn., will be the keynote Growing Furor rally By Agis Salpukas New York Times Writer speaker. Fted G. Eberhard, DETROIT The internal combustion engine, once as pure a symbol of America as apple pie, has become public enemy No. 1 in the controversy that is building up between the advocates of clean air and the auto industry. The advocates of such alternatives as gas turbines, electric engines and steam engines maintain that Detroit will never be able to effectively control the pollution from the internal combustion engine and that it should be Washington Post Service NEW YORK Wall Street's merger wave is reaching a new crest and creating some new trepidations. Brokersome of them by shotage marriages are cropping up all over the gun street. During the past week alone, three large merger possibilities came to light and, according to Wall Street higher-ups- , there are a lot more to come. It would be ironic if the pace of mergers increased at just fhe time when the stock market is putting on its best show in months. Paine, Webber, Jackson and Curtis, for one, is one of the streets larger firms and has not been rumored to be in any trouble. Reynolds and Co., according to reports, rode nicely through Wall Street's profit squeeze. But that just shows the depth of the problems in the Street. It isn't just the McDonnells and the Gregorys both in that will undergo big liquidation changes. The course of the business is and thats something basic shifting that will leave a permanent imprint on the securities business. Some day, probably still in the distant future, the brokerage business will be dominated by a group of 15 or 20 large firms, catering to the broad public, and a number of smaller, specialized houses serving mutual funds and other institu- 1980. Experts Uncertain These devices will cost the consumer about $350 per car by 1975 and some of the industrys own air pollution experts are not even sure that they can come up with controls that will work. The controversy, which pits environmentalists, whose main weapon has been public concern, against the large auto corporations in many ways resembles the 1960s struggle over auto safety. But the present. conflict promises to be more bitter. Switching to a new engine, unlike the addition of safety belts, See Page F-- Column 1 tions. The reason for that is that the costs of operating a brokerage business have grown enormously. WITH 930,000.00 MARK-MASTE-R 6x6. Trucks, Reo, Dodge ambulance 4x4, tiros, wheel axles, 5-t- on FIRST TIME OFFERED . . . UNIQUE MARKETING CONCEPT! shaft axle assemblies, transmission differential, drive line, eints, sprockets. Chain, dump beds, heists, cargo beds, winches, cable springs, exhaust pipes, l, pressure piate, tire chains, brake shoes, brake parti, radiators. 900x16 wheels and tires. DEALERSHIPS NOW AVAILABLE IN AREA An investment of S2948 can give you a yearly potential up to $30,000.00 and mote, in your spate time building to full time with unlimited earnings. .... fifth-whee- SALES COMPANY INTERNATIONAL 600 Delmjr Suit St. Louis, Mo. (3124 (314) Dpt. 1 M 5 Fisa to Build With PRESTRESSED COR-DE-K FLOOR in drive lina repair, transmission, transfer CONCRETE CO. CDAPGQ'G GH3. 1730 1563 South 2nd West Salt Uka City, Utah 14110 Phonat Serving fha latarmevntain Want TOOLS PASTS IQUtPMINT IU - BECK ST. PH atm" nti I"Tk 74 - AID R0CF SYSTEMS UTAH PRESTRESSED case, and differential rebuilding. fr 359-370- BMW- - UMnMrim. Ual M mi imamuM mo- - c i. The primary drop in new car sales, lie added, lias been composed of standard size autos. dont think the sale of import compact cars has affected sales in Utah too much. But, 1 think tlieie is a change ill what people want in a car. Our Cheviolet Vega will be introduced the first part of September and we hof this will pick up a share of the compact car market," Mr. Pulitzer Prize Business Writer The head of a major NEW YORK points, v.e v We h. Credit Sales Rise Jobless Rate Falling tcel "We have experienced a slight rise in the number of autos that are financed. People who have the cash want to keep it in reserve and those who never had the money before still dont have it, Vernie Swenson, new car sales manager at Ben- On the oilier hand, employment, at 78.2 million, is down less than a million e 79.1 from its high in March million. And the unemployment rate is down from its June level of 5 percent. So, it can be argued that the woist is pretty good. That justifies our waiting. But then we think, maybe we should have had more cash. Our holdings of cocks are far greater than our cash and nett Ford, said. He said the company has experienced success with the Ford Maverick and has good expectations for the new Ford com-pcar, Pinto. past. invest- ments. So our total value declines. And when stock prices rise, we get the same mixed-ufeeling. We say to ourselves: Gosh, has a bull market started, leaving us asleep with all this p cash? We dont really know where we stand: Do we want stocks to go up or go down? Thats because we dont know what to expect. Were not optimistic about business. Were not optimistic about profits. And yet, we're not sure that stocks will go below their May lows. So here we no sit, waiting and feeling uneasy on the matter what happens New York Stock Exchange. day-to-da- y Hes Ralph said. He added that the firm has a normal y supply of new cars in inventory. Sales officials at Bennett Ford, 47 W. 6th South, report new car sales for the first half of 1970 are ahead of the 1969 figuies. from 3.3 percent of the labor force when President Nixon took office to 4.7 percent last month. For the first time in a decade, college graduates find themselves more plentiful than jobs. For them Ecothe law of supply and nomics 101 demand has become personal. By J. A. Livingston investment company was talking. have more than $25 million in When the market I" goes down a few 1 Not Alone This investment manager is no different from the heads of banks and corporations. As noted here last week, this is the a period of sussummer doldrums pense. Will business revive in the fall or will optimistic expectations collapse with a dull thud after Labor Day? The statistics are as as a daily horoscope. An optimist or a pessimist can find whatever hes looking for because theres no positive trend. Example: Unemployment has risen multi-facete- d Or consider industrial production. It from 169.0 to dropped anew last month 168.6. But such a wee drop. Since January, production has slipped a mere 1 percent, less than half as much as in the five months from the July, 1969, high of at Cadillac Co., 1070 S. Main, of new cars, as well as used autos, is excellent. Our only sorrow is that we may run out oi new Cadillacs before the new 1971 models arrive, one sales official said. Carleson reports the sale 174.6 to 171.1 in December. Furthermore, the entire drop from July through May was nnly 3.4 percent. Obviously, the decline isnt gathering momentum. But its continuing. And it has lasted for 11 months. Reports Sales Dip The sale of standard size autos at East, is now as Freed Motor Co., H. BenWilliam in the as past, strong nett, vice president, said. car sales But the are the ones that have been affected, he said. Spiraling insurance rates for the muscle cars (high performance autos) has had a real effect on the market, Equipment Orders Down Or. take new orders for industrial supplies and equipment reported by tha American Supply & Machinery Manufacturers Assn. (ASMMA) Theyve skidded more than 15 percent since November. Is this bearish? Is this a signal that manufacturers are retrenching on capital outlays? It could be. But, another interpretation is suggested by ASMMA: The drop in new orders has been greater than the decline in Consumers activity. manufacturing apparently are lipping into inventories that will require replenishment later on. The $275 million drop d he said. Some of the higher-price- auto d sales have dipped too. Foreign Cars Sell Foreign cars are selling quite well, ports Ken Garff Foreign Cars, Inc., re- 525 S. State. National figures show people are buying smaller cars and we find this to be true. People want the advantages of a smaller car with good gasoline mileage, a salesman said. Inventory of new cars at Ken Garff Foreign Cars is about 12 percent above 1969. in business inventories in May can be simibily interpreted. This was the second largest decline in nine years and occurred when sales of manufacturers, wholesalers, and retailers were rising. Are businessmen worried about consumer demand? Mountain Cabin pr Corrosion Resistant Plastics New Cabin plu, Vj acra above Sacrifice far each. Brighten 2,993.00. or 467-990- 4 NEED LARGE LOAN CONTRACT Inc. 1455 last 330 South Mil-Ra- Readily available for sptcial jobs such as theso Polypropylene acid fume vents. Lot a find the answer to your problems. ,. 9:34 t. imo til! o. Vc 278-768- 3 y, Provo, Utah 374-095-4 . . ( - 5L r6. exot Mitaf. This announcement is neither an offer to tell nor a solicitation of an offer to hut any of these securities. The offering is made only by the Offering Circular. 7,000.000 SHARES Common Stock $0,005 Par Value Build Sefely WE SPECIALIZE Standard Car Sales Off - EXPERIENCE NOT NECESSARY NO SELLING ALL RETAIL ACCOUNTS FURNISHED INCOME STARTS IMMEDIATELY GUARANTEED INVENTORY WRITE TODAY FOR COMPLETE DETAILS . . Eis (ooo Non, A4ins omt Phot Numbr isJL- -. , Conflicting Business Signs Bedevil Financial Oracles short-ter- mass-produ- VEHICLES: CMC, SVton to r, Sea of Mergers Tosses Brokers Not Advanced Enough The auto industry, however, remains convinced that the alternative engines they have been experimenting with are not advanced enough to replace the present engine. They also maintain that even if they had a new type of engine right now, it would be technically unfeasible to enough of them before 1980. The auto makers argue, therefore, that they have no choice but to keep adding expensive devices to control the pollution from the internal combustion engine in order to meet the strict air quality standards proposed for 1975 and the even stricter standards proposed for GOVERNMENT SURPLUS secretary-treasure- Utah Bankers Assn., said approximately 35 persons are expected to attend the conference. scrapped. They are gaining support from their position among an increasing number of legislators, air pollution control officials and leaders in the environment movement. Sssss:s offers her some help. Utah Automobile Dealers Assn, says people are looking more than buying. Gasoline Engine Salt Lake Will Host Western Bankers At Center of managers western states more Based on Hopes Behind the advance, of course, there was some good news in the economic area, but the financial communitys optimistic tone was based more on hopes and intuition than facts the feeling that the recession has truly bottomed, that interest rates will continue to decline, that inflation has peaked and that the corporate liquidity squeeze will not intensify. To some extent also, the stock market was aided by the lack of unpleasant surr prises in the flood of earnings reports now cascading out of generally more downs than ups. But it locks like Mr. Bryson we are turning the corner, said Max N. Lunt, executive vice president. Utah Automobile Dealers Assn. Sales in Utah did not drop as drastically as the national figures, but they did not peak as high, either. The Utah market has enerally been mote stable, but s p eaking. V Dow-Jone- We susiect this trend will continue and even inctease. Ametican auto makers aie now manufacturing more compact cars." he added. Salt Lake area auto dealers reported varied sales for the first half of 1970. This is probably the best July we have had in the last four years, said Tom Ralph, new car sales manager. Capital Chevrolet, 777 S. State. But new car sales have generally been down for the first six months of 1970." This is probably the tesult of a combination of many things: the state ot the national economy, internal problems with labor, changes in the local economy, and changes in uto styling, he said. This NEW YORK Without any gieat array of favorable economic, political or international news to propel tnem, the i nancial mar k e t s I nevertheless con- rV-tdg- , tinued to advance last week as a confident mood enveloped investors and Vail through the fifth consecutive week Mullaney but in more subdued fashion while fhe stock market displayed a quite vigorous upward tendency in moving higher for the second week in a row. Renewed interest in stocks and cashladen institutions helped push the market to new recovery peaks since its low point s (031 in the Industrial Average) at the end of May. The Dow index ended the week with a net gain ot more than 30 points as it passed easily above the 730 level. See Trend (onlinuing 1969 Bv Thomas E. Mullaney New York Times Writer summer like the national maiket. sales probably will trail 1909 figure''," he raid. Tiuditioualh, the standard size car accounts lor more than halt of the total car sales. Now, liei ause of the economy, tiie sa'e ot the stumlnid size car is down to 38 ix'iient of total cal sales national-ls.- " Mr. Lunt said Robert Biyson Titbune Staff Writer B No Great News, But Market Rises Anyway 4 Tiiay1i Standard Car Sales Drop In Utah as Purchasers Uinea-Mark- biles vug 1 II j River Unas w This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is mode only by the Offering Circular. Mineral Company $0.03 PER SHARE circular of the Copies may be obtained from the offering undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. New Issue 601 Kearns Bldg. (801) Salt Lake City, Utah 322-35- 1 5 lle CENTAUR ENTERPRISES LTD. OFFERING PRICE: BONNEVILLE SECURITIES, INC. Non-ossesss- 10,000,000 Shares Common Stock No Par Value Offering Price: $0.03 per share ith subsidiaries w hn li propose lo offer a vaholding coinp-inriety of sers n es to the public in the fields ot set unties and insur-amA v e. Copies of the Offering Circular may be obtained front the Underwi tiers. FIRST FIBELIfY UNDERWRITERS, IKC. 530 East 5th South, Suite 201 Salt Lake City, Utah 84111 0 Telephone: (SCI) 521-680- f |