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Show f. Mines ,x. Snli Section 11 Markets Finance The New York Stock Exchange: Final Quotations ftibnitf lk$inf$$ Salt Lake City, Utah Friday Morning Local Interest stock quotations furnished-bA. 9. Edwards A Sons, inc.t Page 5 June 4, 1971 By William D. Smith NEW YORK The computer industry still is reeling through the fiist recession of its oung, but action packed and growth-filled- , life. Despite some surface optimism, there are few concrete signs that the vitality that propelled the computer business through the 196(ls as the world's g major industry has returned. This is not to say that the computer business is declining. No, far from it; but the heady growth rate of the previous decade has stopped surprising many and shocking some who had thought that computers were tecession proof. fastest-growin- Made Some Changes As with most traumatic experiences, the recession has made some changes in the character of the victim. Some of these alterations will pass as the economic doldrums blow away. Others will remain part of the basic structure of the industry for years to come. A sign of the times in the industry has been the almost daily announcement of a computer company going into bankruptcy. Made Wrong Moves Most hae been two, or three-- ' an shops founded on the strength of one idea cf product. Others had names certain to garner money from Wall Street during the halcyon days. Others, such as Computer Applicaindetions, the nations second-larges- t pendent software company, were solidly conceived concerns that made wrong moves. The industry's situation was created bv a confluence of forces. The first was the nation's general economic slowdown, which put pressure on corporate budgets as usual and, for the first time in quite a while, government budgets as well. Tight money became the order of the day. The economic game plan for many new computer companies called for a second round of financing in 1973. It never came and many of the companies went, according to James A. Stone, vice president of the planning division of Quantum Science Corp. Other Developments In addition, there were developments affected the computer field. that specifically Everyone knew that the International Business Machines Corp. was going to introduce a new family of computers. Decisions were put off to await the IBM offering. In many cases the delay was extended as budget cuts brought on by the economic situation prevented any moves even after the IBM introduction. Last year also, IBM unbundled or separated, prices for hardware and many services such as programming. Unbundling was to be a boon to al- - Healthy Thing Dick Brandon of Brandon Applied Systems commented: Looked at objectivehas been a healthy thing ly, the shake-ufor the industry. It eliminated the poor competitors, taught suppliers the vicissitudes of a down market while educating tha buyers to more Intelligent use of their resources. A correction was needed and it sterilized the market for better future growth. Despite 1970 and 1971 thus far being a small economic disaster for the industry more new computers were introduced during the period than at any sthr time. These will be the weapons that will decide market share and possibly even life and death for some major corporations. International Data thinks the industry alignment of IBM and the six dwarfs p Proposed Law May Make By Dennis Duggan Newsday Writer - may be in for a if pleasant surprise youre one of 18 million Americans who have a savings account at one of the 2,100 federally chartered savings and loan associations hi the country. The reason: A little known but treNEW YORK You mendously significant piece of legislation that could turn those same 18 million depositors into what Federal Home Loan Bank board chairman, Preston Martin, calls instant capitalists. and What the board hopes to gain is a sweeping bank reform act would enahe member savings and that loan banks to raise money to escalate their role in todays booming housing market. The proposed legislation contains 17 articles including the most publicized one allowing federal associations goon to convert from "mutual organizations to to stockholder - owned corporations sweeping changes on where the S & in present restrictions Ls can invest their money. Bills were introduced in both houses cf Congress by Rep. Wright Patman, and Sen. John Sparkman, which Martin to authorize changes claims will be the most significant legislation affecting conventional mortgage lending, the savings and loan institutions and the government institutions which support both of these. Q. In other words, b: Will the or will they A. They Stock which stock thats I wouldnt call it a windfall because that implies they're getting something for nothing. These depositors have put their money in these banks which in turn have made money on those savings. People who dont have savings in an association at present won't be entitled to the stock. A. s bonus or an extra dividend? A. Yes. Their savings wont he affected at all, nor will their dividends or the $20 000 insurance new provided by the government. sell the stock they Q. Can depositors get? A. Yes. They could sell it through a broker the way he would sell other issues. The stock of the S & Ls will be sold in the market. Q. Do you expect the plan to become law soon? A. I do. The House Banking and Currency Committee is expected to begin hearings in June and I think we'll have it passed through Congress by the end of this year even though it's a very complicated bill. savings and loan associations go fot slock ownership? A. Not at first. There are hundreds and hundreds of small federally chartered savings and loan associations in small towns who may deride not to that they don't need more capital. Q. Will all Q. What would to know Issued be a windfall Q. So, the slock w ill be sort of free to pay for It? will not have to pay for the will be issued on a pro-rat- a have be the value of the shares to be issued? price will he set on each share. After that, the real price will he determined by the market and the new stock is bought and sold like other stock. But assume that an. S & L decides to convert and it has $50 million in deposits and $4 million in net worth. Suppose a value of $5 million is set and that the decision is to issue 1 million shares priced is $5 million at $5 a share. The total equal to 10 percent of the associations $50 miilion in deposits. Thus, each depositor would be entitled to shares equal to 10 percent of his own deposit money. A depositor with $1,000 in his account would then be entitled to 20 shares of stock. A. An initial NEW YORK -- manufacturing stage. Built in 1960s The Salt Lake plant, at WO N. 2100 West, was built in the early 1960s and employed nearly 500 at peak of operations. Litton also has a Guidance & Control Systems Division plant at 2211 W. North mostly women Temple. It employs 450 but is not affected. A spokesman commented: Our workload looks good and we are even recalling some workers. James Gregory, Van Nuys, vice perations for the Data Systems, said every effort will be made to find jobs for the Salt Lake plant workers within or without Litton. president-o- - U.S. Treasury 60 0 proa am w V r n VurpCO Ad I 80 16 2 0 Nap 2 20 Ml Fuei 33' VtStTei Air! Export AmHoist .40 1 70 A Home 26 AmHmsp AMetCx 1 26' 32- 30 V 26 a Volume Ntch Low Ind 1,4 79 700 9?9 00 914 63 724 rx10 227 3e 22 vg Ran . Utils 2ti 400 tU 87 112 95 2 428 7f)0 309 56 304 27 Con L IV Commodity Futures Index 1V 40 Close 732V1 33 V 33 34 35 143 36 N 5 16' 1 77 16 66 7 66 777 68 ' 67 66' 169 67' 4t V46V 163 47 44 388 44'4 43 13 39' 4 40 40s 4361 35 403 2 19V 20 20 277 27 437 28 8 9 g?8 878 1?; 64 12 712 75 104 78 V76V 248 32V31V 32 34 51 3oN 367 AmCyan IV AmericanDstl AmE'ec 1 70 Am 264 9?1 223 rfp k NoA Rk S 5 20 NoVGs NrStPw Nw Pan 2 nG 113 306 142 45 820 0 82 20 Bath Ind 1 16 ? 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Og 1 20 A Brest ABland 2 20 2 20 Am Can 80 Pwr At Vrtnrpia South Ma n Member of the New vork Stock Exchange fnit 'ed 5 2 Nieq'o Thursdays Quotations Lynch, Prce, Fenner by Merrill roo, Cash Grain A A Dow Jones Averages single daisies. - Psc Oi Ob to 0 55 Q,rn Wool Market A v 10 . Livestock Markets Metals 3Iarket 1' f? V 'rPi MtSeei at Salt Lake Stock Exchange M 20 kitv Pay Trip Expenses . u N, Total Potatoes: CHICAGO (UPI) 560; arrivals 13; track 197, shipment demand low; market slightly weaker Idaho Rus Track sale (100 U S. sets 4 25-- 75. Sales exceed72, arrivals Onions: Total shipment WASHINGTON (AP) 19; track 31; demand for iumbos good; ed redemptions by $160 million in transmarket steady; for others demand far, last bonds month, U.S. of savings actions market slightly weaker. said sales50's California yel'ovi Thursday. Track thp Treasury Department granex grano 4 10, Texas yallnw-qranSalt Lake County commissioners Rales of Series E and Series H bo..ds iumbos 4 epacks 2 cars, 2 00, Arizohave approvd spending $488 to pay na yellow granex prepacks 2 45 to totaled $462 million, a record for any Buffer: Prices paid delivered expenses of 14 sheriffs officers Mav since H bonds wore introduced in 93 score 67V; 92 score go unchanged. Convention Officers Peace totalled Utah series 67V; 90 score 65. 1952. Redemptions of both Egos: Prices paid delivered to Chicago Springville, June 10-1$301 million. mixeo Cents per dozen ISO percent A rr ted NEW YGPK socks on extra larga white Jumbo rret Hums 29 29V, Sales'hds) Hioh Ldw Last Chg. large white ) standards too few to eport. 19 4 Prices to retailers (Grade A, In cartons Arid 9 9 ? V ontrr 22 '2 22V Extra large 35 35V; large Am Pet delivered' 27 V rkL'iG medium 26V lb 92V 33V lb 14 505 25 , lower. P 4 cash position af the Treasury May 70, 1971 Washington 28.(AP) Cn The 14 25 7 5 2 3 lb 13 75 14 25 IP ; Cheee 5 lb. procev.d lof 9VA6V, V 5p dollars). to Chrd-'aIO May fnmoared 26V-t- V 17 7 Sheep ?0O. iflmbs steady spring 'ambs fcruk. 60 70 4 , Muenster,5 cO 70 6834 tvfl iV 32 rp ns, Bjrv3y ? 70, lorjh lower, cows steady, steeds h'ah choice enmee end prime 2 00 33 00. ib 7 I 186 0b9 5U 592 81 ircle DdV fiscal year July 1 Swiss carv lb blorks. 63V 6 V. 6 e - V and prime 1,120 1,250 lb 33 85, choice CHICAGO (AP - CeHl Corp 903 F96,95 62 00 USDA) to "SCal ,Mr 1J (blocks 80 100 r0ipmanCO 38 (wheels) too small supply mostly cows setting lb 975 275 lb 32 00, mixed oood and IN) 371,626.445 M? 06 TMaTSeh.'5 B A W "a 1M1S (x) i 68V 74 j, grade 13V grade Comou'esl arid utility 11,367,015,742.47 01 cy 475 31 'n :J3?'(y, 25 66V 72V; grade C, 6z' rhn,r. 1WI 300 lb 2 60a j V 28V Gold Creole f h'0 3 J'-lchoic. em-- I DW lb 31 35, wod J' 39 v tin W 9 21 dfct not sub;Kt to statutory limit. jCoilerLao and cull r .9 nd choice non 975 lb 31 00 75; cows utility 23 25 7? SO; com 47' 2 Vj Damon Cp no market test. none, Sheep V and commercial 21 00 2? 00 )0V Mines Day Hoqs 9 500. barrows end gilts wpak ,o 3? iV De nison 2S lower, T3 195 240 lb 17?5 ,8 50, 25- V- V DesPharm 250 280 lb 16 50, soy steady to 25 Dixiyn Corp fcqu Cp 05d NEW YORK (AP) FRS0U' Thursday's Quota tiong aomg. Storks Hiqher In arti $DOt nor,f,rou$ NEW YORK (AP) Feimont O 52V 53 metri prices Tbirsday; ccx?oer Cotton Higher. FinCpSB 20 Fronner Air prod Connecticut 16,Valley; ied tin CHICAGO Sa't Lake C'tv eco ma"kat unchanged 13 ? Npw York; zme Gen Battery deivereo, 1ae Wheat neavy, of) tmy Snarpiy higHr, t40 to re?a 'ers, delivered to stores, m car. 64V Nw gold York, HukyOl '5 jl O .nexco AA exra 07 Ji 594 trey o i, btyinq tons Br r ol Nw York silver pxcharqd In 2k k ai'-eAA $25 W tiask, Bui Mn Corn lerqe Yrk, quicksilver larg AA 34 38, med-uSharply higner, heavy demand 36 Kirbvlnd 13 29 2 22 York ivooLaods AA New small Ca OaV Hiahe good demand "Ylo Len E nt 40 lb nndtess bfoex 62V; 51b Cheese Champion I pp trade NaM Co ood ?C,''befr ons 69 . nuu umu CmrK. tn it.? o" 5 Not enough nn had Clavmn 93 score 84, 9? score Butter laughter steers 15 ?, CloCons tc market P'trw to prodricors Lere AA CombMef Tedium AA 17 20V, small AA 1 Ccm"t wool futures NFW YOTK (AP) ur Comslrrk closed unchanqed to 0 cent lower jui, Const ur neeos pfoctoction l S Z3 53 Od 60 7, 60 h 259 6, ;5 Crescent I" crop, dairy, livestock. Dec 64 0, 61 8, 263 5, Mar. 66 7, 66 7, Croft 3 Lei s talk1 Jul 7? 0, 7? 0 77 n tfayftA 69 5, Thur(iaj-,- i )!iotofinni Cmwn CHICAGO No J ' Hailey, i.'gr. Wheat 20 5 AP) m Ct Dra on 775 t P9 V yc-n5 2 Wool too pnt 54? No 6iVn 55i4 c.rn hard red Ce'tifmated bank rd Ni. 2 is li.1' fa". Pii EastiJtri yt.trdav'5 last d 54 a? 164 DO No 2 future c rrsed nme No sale yelirrjM 1 jn4n Otts Sme da. SLC. .sei 315 55' 65 4,66 re SDO WOO! triOS S 5. a "CS Ce' A sc: Legs., Rich, ehl & Roosc.eil 4 inr I1 76n, last year nal. 3am tt LovevTi, KO at 30c. jyeiiow 3 1IVn. Soybean ol I 4,4e 498 5J Saving Bonds Hit Record A NarDsnl Natl Gen NvGvP Clou Chq Low Principal Contract The plant's remaining principal contract is computer complements for the E2B Grumman Navy plane. The plant's bread and butler for several years was providing components for Marine Corps tactical data systems, he noted. That program, however, phased out in August, 1970. He noted that part of the plant was being used for the workload of the Inertial Guidance Systems Division plant. And hope is to keep the plant open, he said, pending development of any new workloads. He said the overall employe force of the Data Systems Division had increased by 600 over a year ago. However, most cf the effort, he said, now is in engineering. ?o 14 500 131 bYi 12a IU0 AiemMk Aod'es j Admiral Af Prd At Red Data Systems S.L. Operation o-- wnp 10 3f 123 Hiah SdiM(hdi) V UmH'til IV FnrCnt a LmcTemV 11V 34 -- 2i Grfynound V IBM )6 2 44 o 100 700 (AP) A- New York (UPli Following Is a list of bid and asked prices on Mutual Funds as quoted bytha NASD Inc Litton Industries announced Thursday it will phase out its Data Systems Division satellite plant in Salt Lake City. One hundred fifty employes mostly women are involved. The company said the phaseout was the unavoidable and will take pla.ee next two to three months. It said that though the Data Systems Division, headquartered in Van Nuys, Calif., was experiencing unprecedented a number of programs are growth, nearing completion and other programs are still considerably away from the 4 G most active 10 Standard and FoorV Daily 500 Stock Index Furnished Litton lo Close for depositor. To get answers to questions savings and loan depositors may have, Chairman Martin and other officials were asked these questions. q. What most depositors want this Is DeimaiPLt 'Ciylnvs basis determined by both the size of the savings account and the retained earnings of the savings and loan association. 300 s?: 2K KC 175SUO NEW YORK (LlH- t- Selected stocks on New Yorn Stock Exchange Thursday; M Instant Capitalists Of Savings, Loan Patrons 36 the Thursdays Quotations 150 Affected AmTei&Tsl Univtvf mp Brannri A r - moe Rr ''k V . NEW YCRK (API Sa et ciomg price and net change of the slocks traded on the New York Stock Exchange Thursday. l6ths. (General Electric Companys computer products and Honeywell, Inc., merged last year) may bave a further eonsoliaa- uvu. If it happens, most people are betting it will involve the Control Data Corp. in a merger with one of the other companies. National Cash Register Corp., Burroughs Corp., RCA Corp. or Univac division of the Sperry Rand Corp. (Copyright) Ten Leading Stocks omried' (00) pr most ail concerned because, according to theory, a major key to IBMs success (it controls about 70 percent of total computer shipments) was its service and support. Unbundling hasn't worked out that way as yet. A nunarecs m except fnr those designated (z) which a e traded n 10 share ios and earned tn fini DIVIDENDS are annual rate unless otherwise loeniihea (a) plus extra, co declared or pa d so tar this year, no rate? (c) payment on accumulal regular ed d vioenas; (d) pad last year; cash plus strek (gt annual rate plus s'oek dividend; (hi paid this veer latest cent n stock cm ried: ( ' paid last year, (k) per cent in stock; tq) or reorqamza-ticin banxrjptcv receivership (x) ex distribution; ti) cac-raa v bend; (wi when issued. (wt) Farrar ts following FRACTIONS; (ti Indicates Igure I fraction In 32nas; (I) indiates In ns; (r) is fraction following figure (s) Is fraction In ?o owing figure foil wing figura Is fraction In IMths; (t) Ind'cataa following figura Is fraction In () Computer Industrys Still Alive , But Not Without Some Scars New York Times News Writer sales Aii V Va 14 J4 V V V V |