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Show i Nation s Lines Post Discontinuance Notices to Pave Way for Railpax By Stephen M. Aug Wasnington Star Writer The naWASHINGTON tions railroads filed ronce Wednesday that they are discontinuing all their passenger service except for cummut-e- r effective May 1. runs Posters went up in railroad stations and aboard trains across the country in accordance with federal law which - requires 30 dajs' notice before a railroad may halt service. howevThe announcement, er, was not as bleak as it seemed many of the trains will continue to opeiate, but under the ownership of the new National Railroad Passenger Corp. (Railpax). The notices of discontin- uance represented a procedur al step required before Rail-pa- x takes over some of the trams. The only major railroad that has not posted discontinuance notices is the Southern Railway, which still may choose to opeiate its own passenger trains between Washington and New Orleans after May W. 1, Graham Jr., Clayton president of the Southern, said that his company had not yet decided whether to join or whether to conRailpax tinue running its own trains. that He noted roads were other rail- to post even beioie their nonces they had signed contracts because they with Railpax want to be sure to be able to get their trains off the first rushing possible day. And I'd rather be sine I know what 1m doing. Tlie giant of the rail indus- the bankrupt Penn CenTransportation Co. posted us nonces Wednesday advising it will discontinue moie than 200 trams. But it notified its passengers that Railpax will continue to operate about 60 percent of these. try tral HATCH Willi Details of Plan to Save Rolls Jet Bait AND COMPANY INSURANCE! PHONE IANK ILBS. 3J9-77- J7 WASHINGTON (AP) Lockheed Aircraft Corp. went knocking on the doors of its airline customers and bankers Wednesday with a plan in hand to retain Rolls-Royc- e air engines for its bus. First on the list for a visit from Lockheed's top brass was Air Canada, which has ordered 10 Lockheed L1011 u firestone TRANSPORT Nylon cord body truck tires for fM PICKUPS! VANS! CAMPERS! fi r M 1LE AGE...STRENGTH.. SMOOTH RIDE end LOW, ECONOMY FRKX8 featuring X TriStars which c?n. fly up to 350 passengers at 600 miles per hour. Terms have not been disclosed for tnt tentative agreement announced Tuesday, alter two weeks of private talks between Lockheed and on the British government Rolls behalf of the bankrupt empire. Could Raise Cost The plan could jack up costs and alter deliveries of the 178 TriStars on order. But a switch to another powerplant at this point would require costly redesign of the planes tail assembly where a third engine is located. Hie other in two are wing-mounte- d pods. The British government, which picked up the Rolls pieces in an effort to maintain its balance of trade, sought assurances that Lockheed would go to full production of all TriStars on order. on the other Lockheed, hand, demanded guarantees that the Rolls RB2U engines would be ready when needed and at a price making the TriStar competitive with the McDonnell Douglas DC10, also SIZM7S-I- IwtiKHW ly plus 12 42 Fad. Eic Tax and exchange tm 4lt prill- fur l.m'ktu.nl' ratinirplualaweBmliXfhaiwrrtii imfrtit nmiitsToiiE Qtutn nuBtsatwi)) 1- HUiTicsniumt WHcit a air e bus. Connally, Nixon Meet POPULAR SIZE WHITEWALLS SLIGHTLY. HIGHER s V s three-engin- 7rzzriL r7L U.S. Secretary of Treasury John B. Connally reportedly was to fly to the Western White House at San Clemente, Calif., Wednesday for talks with President Nixon. The Lockheed-Britisagreement was understood to be one of the topics. Later this week Lockheed will call on other TriSta' customers and on officials of more than 20 banks with interests in Lockheed and the airlines. The other airlines involved Include Eastern, which has ordered 50 TriStars; Trans World Airlines, 44; Delta, 24; Pacific Southwest, 5; and Air Jamaica, 2. Other customers include two American firms. Air Finance and Haas Turner, with orders for three and two planes, respectively. h 4 This l , .. 14-0- z. v v v.L. Size King Size 20c OFF Mines at- (Copyright) Federal Reserve Rejects Housing Credit Issue - Markets - Finance By Lee M. Coin Washington Star Writer WASHINGTON Legislation to give the Federal Reto serve Board discretion channel credit into housing Thursday Morning, April 1, 1971 A newly formed corporation, Capitol Theaters, Inc., will assume operation of the Capitoi Theater, 46 W. 2nd South, July 1. lease with Capitol Theaters has signed c Bank Tracy-Collin- s & Trust and Walker Bank Co. & Trust outnumbered declines by a ratio as 772 issues rose and 3-- 2 626 fell. One analyst noted that al- though he was pleased by the markets performance after sessions of indifferent trading, further base building and favorable economic developments may be required to motivate a significant uptwo swing. The Dow Jones Industrial Average, which was up 3.09 points at noon, its high for the day, finished at up 904.37, 0.98. (Copyright) 3330 x , j the-boar- All other officers and directors were f . Harold C Molitor, presi-- 1 dent, said tie agency volume had shown an excellent gain in 1970 and that volume gain should be even greater in ', 197L 3 Summoned In Rail Theft to-sa- ' - Interstate Brick Approves i; Entrada Industries Merger of Interstate million. Stockholders y t Brick Co. approved merger Under the proposed merger,' with Entrada Industries Inc. Interstate stockholders would wholly-owne- d of receive nine shares of MFS ; subsidiary Mountain Fuel Supply Co., at for each tO shares of Inter-a special meeting Wednesday, state. ' Harold Cahoon, president and The merger is subject to a general manager, announced. favorable tax ruling by the In- Interstate Brick, founded in temal Revenue Service and t . 189i, is a major supplier of other conditions according to. " bricks. principals. -- AN ACRE 273-761- 3 Insurance Tuesday was elected executive vice president and 4 member of the board of direc- tore of Continental Agency Co., Salt Lake City. Election was at the annual meeting. Gary D. Peterson, comptroller, also was elected to Logan, Organized Crime. Investment Lend. Inflation hedge. e Delta, Utah farmland. parcels. 10 down, easy terms. Ph. or ScOur:AdFogIM of . Agency, . he said. Complicate Execution totalling $67,500 for park development in Idaho were announced Wednesday. The funds come from the Bureau of Outdoor Recreation. The will grants provide $35,000 to Wendell, $7,500 to Ucon and $25,000 to Twin Falls County. $100 Hatch ' J. Garrett, president, Variable reserve requirements for loans would complicate the execution of monetary policy for general economic purposes and would give a tentative advantage to banks that do not belong to the Federal Reserve System, Grants WAREHOUSE W. , ' a PHILADELPHIA (AP) . -- J . Three Penn Central employes ' were summoned Wednesday" to testify before a federal grand jury investigating what4 the government alleges Wa$ the theft of 277 freight cars from Americas largest rail-- , v road. The three men declined rio Identify themselves except they were from Philadelphia and employed in the railroads transportation department. The investigation is being . conducted by attorneys for -the Federal Task Force on -- (AP) Mr. Peterson Insurance Staff Changes for example, the Federal Reserve could establish higher requirements for loans to corporations than for housing mortgage loans. The intention would be to create an incentive for the banks to increase loans for housing and curtail lending for other purposes. Bums said that his board was unanimously opposed to this provision. Funds for Parks WASHINGTON . ac. Agency Reveals ance. The bill before the subcommittee would in addition authorize the Federal Reserve to establish variable reserve requirements on bank loans. In a period of tight money, During Active Trading institutional purchases firmed the stock market Wednesday as the list made a modest advance in active trading. Analysts attributed the increase in institutional activity to switching by mutual funds in an attempt to improve their financial posiof tions for the the year. The greater Interest by the institutions was reflected in the increased turnover on the New York Stock Exchange. Volume climbed to 17.61 million shares from 15.43 million shares on Tuesday. A total of 119 blocks of 10,000 shares or more changed hands Wednesday compared with 99 blocks the previous day. Advances on the big board fr. Garrett programs. The Federal Reserve now sets reserve requirements on bank deposits. The banks are required o set aside specified percentages of their deposits and can lend or invest the bal- Stock Market Advances p .... Conducts Hearings On the credit issue, the subcommittee was conducting hearings on a bill to allow the Federal Reserve to encourage bank loans for housing, small business, agriculture, state and local governments, poverty areas and other favored Volume Climbs Stepped-u- , UK limit. Mr. Cohen is a veteran of the film business and hi s interests in The Tower and The Movie theaters in the Salt Lake area as well as other theaters in Utah. He was formerly vice president of Intermountain Theaters, Inc. His Film Service Corp. buys and books movies for television use throughout the country. - social priorities. (Copyright) Federal Reserve Chairman Arthur F. Burns told the Sensubcommittee ate Banking that Congress should give the President the power to impose controls sueft as those invoked this year to curb construction industry wages for only six months at a time. T r easury undersecretary Charts E. Walker testified against that kind of time intact. New York Times Service More fundamentally, Bums' said, broad discretionary au-thorny of this kind should not be louged in the Federal which is not the appro-priaie body to make fundamental decisions regarding v' trols. Co., trustees for the heirs of the late Louis Marcus, who own the building. Owners of the new company are Film Service Corp., Sidney L. Cohen, president; George C. Hatch, vice president; and Sera Amusement Co., operator of several other theaters in the area. Intermountain Theaters, Inc., has been leasing the theater. Mr. Cohen, also president of the new company, films at the theater, pledged to show only which seats 1,900. An arch in front of the theater arcs across 2nd South. Constructed about 1911, the arch violates city ordinances and is scheduled for dismantling by May, 1973, but owners said they will seek permission to retain the structure NEW YORK . and other social priority areas was opposed Wednesday by the board and by the Nixcn administration. on While agreeing this issue, the Federal Reserve and the administration divided in congressional testimony on how much authority should be granted to President Nixon to impose w age and price con- New Firm to Operate Capitol Theater in S.L. -- " - Page 10 Section D FOR Gian! Size people modern, tractive, efficient rail service. e intend to do just that on all routes of our system as rapidly as possible. the Rail-pa- x notice says. It adds, however, that the business last-minu- te HotisNishAM daisy" Spnng.aMakeYor v rr ; U American gfilmne first-quart- er - improvements we all know are necessary cannot happen overnight, and we ask your patience and understanding i ruth e months ahead." Under the law that set up . Railpax, railroads w is! Jug to get out of the passenger bustand virtually all of ness will be offered, them do contracts by the corporation; means by which at least some trains could be Saved tram extinction. We are a private corporation charged with giving the Joins Nixon Forces Lockheed Visits Customers, ami Banks, EASTMAN CONTINENTAL Railpax is also posting nosaid one of ns publicists, Miihcel Goodstem, in older to avoid some of the confusion and chaos that might otherwise result." Hie Railpax notice simply advises that starting May 1 it w ill be responsible tor operating intercity passenger service under a new law which created the corporation as a tices, Hie plant is located at 3100 East and has an annual sales volume of about $4 S. 11th 467-990- Interstate has stockholders about 35 100,000 holding "j Giant Size BREWED WITH PORE ROCKY oKal MOUNTAIN SPUING WATER nil1 f is 11 1- sh - fti 111 LAVA Bath Size , i: ,, The HAND Soap ; H -- 19c 2 for 35e ;;; t w f " lit H ; ItryiM ikUiiUi Jl le. 'V l1' ' i v a J ... i, Ear !t it , i. s r ill in jn, I,, S f.1''!Sii I,'.1,, 1 4 ! tfY, Ip H ,, 'll Ilk fi Jl n'j fni1 f J f ,i V (I 1 "Hi, ' fi large ' ri '' Mi1 a f, t r1"1' If n't, p Ij, f h,1; ? IY' ,t MaitH cim tcsfiin, Jl 1 suit, . 2 u J |
