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Show Todav in Business Somber Slock Markets Slill Sinking New Yoik Times Service NEW YORK The stock market, somber In tone end saddled with worries, sank for the fifth day in a row Friday. s The Industrial Average, with ro signs or a ra'ly flickering among its blue chips, plummeted 6.85 poim-t- o finish at 934 45. The Dow dropped more than 26 points during the week and, with a dramatic flourish, mildly - Dow-Jone- ended at its poorest reading for the week. Wat was the market so worried about? t bulhsh Its hard to when you sea Sen. (Geoi ge) McGovern's stock rising, declared one money manager, who said he spent the day doing a htGe selling. The sudden political ascendancy of the South Dakota Dei vcrat a man whose f . . . - days of iecord-settin- the scll-cf- f the gold price dosed at $62.75 an ounce, sharp' y down from ThurIn Zurich, to speculators sdays level. The gold price also dropped In Asia Friday after hitting a record high Thursday of $77.1U per tael (1.33 ounces), or $57.82 an ounce, in Kong Kong. The closing price in Honk Kong Friday was down 90 cents to $56.92. The declines Friday marked the first major break in the tak- ing their profits on the gold rush earlier in the week. In London, trading opened Friday at $36.37 an ounce, but the price rapidly declined to a low of $62.50 before closing at $62.75. The closing prices was $.25 below the record high of $67 set in early trading Thursday, and $2.12 below Thursday's close. In Pans, where the market is controlled by me government, gold closed Friday at $58.61 an ounce, off $3.58 from the previous days closing to be published each Sunday in June in the CLASSIFIED SECTION the Kids a Break! Page 6 $62.98. ces that had driven it to an e high of $67 an ounce. Market analysts attributed YOUTH MARKET WANT ADS li price. In Frankfurt, the price fell by $1.93 and closed at advan- g Finance steady advance that had driven up gold prices by $16.80 an ounce in Europe within the past six weeks. It was at the beginning of May that the marke, first felt the effect of Soutn Africas reduction of the supply of fresh gold it sells to the market. Market analyses began predicting at that time the price would rea $85 an ounce before the end of the decade. Dealers in London said Friday they knew nothing of an alleged sale of 15 to 35 tons of gold by the Soviet Union, which was reported from unidentified European sources Thursday. We would normally know about it if anything like that happened, said one .99 sport shirts y (Sorry, no phone or mail orders on these items) reg. 29.99 to 24.99 reg. 39.99 sport coats men's suits 10.00 Only 34 of these handsome sport ccaf3 for men. Wools and corduroys in popular styles and colors. Broken sizes 38 to 42 reg. buy, all this price. Single and double breasted styles, va- - A wool suits Refin- The shafl was la'er sunk to the 2,400-levby Park City ventuie of Ventures, a Anaconda and ASARCO, which now operates UPCM under lease. 60-4- 0 Increase Shares The new issue of stock will 5? at increase UPCM's outstanding shares by 345,713 to a total 4,727,524. The additional shares will be distributed to and ASARCO on a basis and wall be held by the two companies for investment purposes, according to a UPCM spokesman. Anaconda 60-4- 0 Hazel repayment. The effective date of the conveision is June 30. The notes totaled $600,000 and added interest of $5,000. To Siidi Shaft Under the loan agreement, the notes were convertible at $1.75 a share at option of the holder. They were issued May 1, 1965. Proceeeds were used, together with other funds, to sink the companys Ontario No. 6 shaft to the 2, 300-fo- level. Quebec Seminar Winter Wheat Up - The WASHINGTON (AP) Agriculture Department Friday estimated the 1972 crop of winter wheat at 1,192,478,000 bushels, percent more than last year and 4 percent more than predicted in May. 2 The government of Quebec, an Canada, will conduct industrial seminar Tuesday at 9 a m. in the Ramada Inn, 10C0 S. State. Maurice Lalonde, director and economic counselor for the provinces Los Angeles office, will give the address of welcome. Discussions Am I making a surprise for YOU! will review the political framework, the economic structure, ir.tentive promen's pants grams and provincial polit? cies on jo.nt ventures, duties, taxation and incorporation. The seminar will conclude Casual pants with flare or with a noon luncheon. of assortment leg, straight good colors - and patterns. Broken sizes 28 to 38 waist. Only 122 At United prs. (limit, 2 prs. per customer) reg. 5.99 to 7.99 1.00 20.00 1.00 Outstanding group of solids end patterns, Permanent Press sport shirts for men. Long and snort sleeves, sizes S, M, l, XL & ing Co. will take an additional stock posiuon in United Park City Mines Co., UPCM officers announced Friday. The acquisition is at the option of Anaconda and ASAR-Cand is based upon the conversion of notes plus accrued interest into capital stock of UPCM, in lieu of dealer. DOOR peg. 2.99 I aud Co. O bullion markets Friday after four consecutive Sundays Give Section European and summer help be sure to read Markets Saturday MornLig, June 10, 1972 LONDON The (UPI) of gold plummeted in price for your parttime r Mines High Gold Price Dips e Anaconda American Smelting -l All-Tim- United Park Mine Lists Slock Plan The g Mr. Businessman & Mrs. Housevife fait aki gfiinw economic programs s' i ike fear into many Wall Street hearts and die specwatne runup m gold bullion prices in Europe tanked among the main reasons ascribed for the week-lunsinking spell. Undersco-m- g the market s weakness was a preponderance of 1972 lows over yearly highs for individual issues. (Cop right) Gets Ski Post Norman Rasmussen, a native of Salt Lake City, has been appointed ski coordinator for United Air Lines, M. M. Davis, sales manager, announced. Mr. Rasmussen joined UAL as an airport ticket agent in 1955. He has been a supervisor in passenger service here. He will organize familiarization tours for travel agents from other parts of the nation, family tours for UAL personnel, sales seminars for other United agents, ski tour packages, joint ski promotions with ski clubs and will direct sales activities with travel agents. Business Tradewinds Lumber, Hardware Finn Appoints Sales Manager James L. Voss has been named city sales manager for Burton Lumber and Hardware S. 2220 Co., State. Mr. Voss spent 25 with U.S. Gypsum, years more and . . . Stephen Knudsen has been named manager, and Don Angell sales manage, of the industrial electronic division of Kimball Electronics, Inc., 350 Pierpont Ave. The firm wholesales major elec- was b u ilding recently in material sales in Salt Lake . City Provos . . Sig-neti- Corp. has donated 5,000 integrated circuit semiconductor packs thats $2,500 worth to the BYU Electrical Engineering The Department. units will be used in computer training . . . Stephen Francis of Ogden, a licensed real estate salesman and a former appraiser for the State Tax has been asCommission, signed to the real estate divi-so- n of the Utah Department of Mr. Business Regulation. Francis, 27, is a 1969 graduate of Weber State College . . . H. Lynn Davis, general traffic manager for IML Freight, Inc., in Salt Lake City, has Science Wins Position Gary R. Vance has joined First Security Co. as assistant vice president. The company Is the service and operating company of First Security Corp. The new officers duties will be in the area of corporate said comptroller functions, Spencer F. Eccles, executive vice president, First Security Co. named manager of IML Sea Transit, a wholly owned which subsidiary handles between Hawaii and freight the mainland. Mr. Davis, who has 13 years with IML, will maintain Salt Lake offices fcpen tronics parts . . . Barry has completed a Mort-enso- n two-we- educational course at Laboratories, the Eaton Morton-Norwci- h Products, N.Y. Mr. Mortenson is a medical sales representative for Eaton, covuf ering the southern portions the Salt Lake area. Inc., in Norwich, Canadian Data Study Bach Alaskan OilPipcline Reuters News Agency A railroad OTTAWA pipeline system to carry oil from the Prudhoe Bay oil fields in Alaska to U.S. markets is economically and tech- - nically if perf. 1,00 Summer sleeping's cool and comfortable in noiron Dacron polyester and cotton, coat or pullover styles. Cood selection of patterns in blue, green or red. Sizes A (small) B (medium) C (Large) D (extra large). (postage, 65c for 2 prs.) ea. 2 for 1.80 Briefs and tee shirts in shrinkage controlled coS ton knit, or Kodel polester and cotton blend. All white in tee FRANK ,I shirt sizes o M.L.XL Briefs 28 tq 40. (postage, 30c for B WARD r"tCh-W- . .n Ch.n I, Princeton lllmoii up to 3 TIMES MORE ROSES! GLADS! 5 to 6 Foot HAN-HIGBushels ol GORGEOUS MUMS! 2) H NEW BEAUTY FOR ALL SHRUBS, FLOWERS, TREES University test proves instant actionin t. rose bush Famous University scientists added tiny o! rcrijcactive tracers to test quantities solution of MuacleGro. They then applied th s solution to the roots ol a rose b ish. Within 30 second Geiger cou iter of definite at bush i rtgistactivity tep proof of how fast Mitacle Gro works. if perf. 15.00 to 20.00 An excellent selection to suit every man's tastes. Polyester double knits with straight or flared legs, belted or self belt styles. Washable, never need ironing, vrinkle free. Over 2,000 pa.rs in solid co'ors and patterns, twill, rib and sand pebble brashes. Most have very, slight irregularities. Shades of brown, gold, red, navy, green or blur waists 30 to 46, lengths 29 to 34. (postage, 65c) f t Perf I reg. 4.99 to 6.99 minr mn rrunuLftrul Tit5 mui Hfiu 3 for 18.QQ Permanent Press Dacron polyester and cotton with long slseves, long po'rt collars. A Ojso'Tment of stripes, solids and pat-t-fn tan, brown, blue, burgundy, red, gold, navy, wh'e, green or yellow. Collar sizes 14'i to if perf. 3.50 te 5.00 CASUAL KiiiT SHiRTS 7SC reg. 4.99 ee. 2 for 5.88 us fs V. ' to 35. Vv?2 (postage, The railroad-pipelin- e proposal comes about one month after U.S. Interior Secretary Rogers Morton selected the Trans-Alask- a Pipeline System to carry the oil to the U.S. nr! New York Times Service MORI UNIVERSITY TESTS DEMONSTRATE AMAZING EAST ACTION WiTH SAFETY Pant Number 3 received most liquid oanf food Visible improvement was noticed within a tew da yz There were absoufey no signs ol lerhlizet burning or forcing. s , I w.ll not ''bum" wen In hoi dr wea'het when used as directed. Excellent for lawtif, trees. CONCENTRATED! ECONOMICAL! Mut une table-irtoom one oallon ol water tor ainrantfd reu'ts, HELPS PENETRATE HARD SOIL' Contain concen-Ira'e- d a ingredient. Heips reacn deep roots fast, helps roots absorb more food ana watei; reduces wasteful run-off- . SAFE LONG SLEEVE DRESS SHIRTS No man ever has enough ties so choose a handful of these "now" ties. Solids, stripes and neat prints in many shades of blue, grey, brown or wine. 95c for 3) (postage, 14c sack) II -- r ,A yVJVt VAM, r V AV, twt'r- - Afs&i St For the golf course, for all his leisure hours, choose several of these polyester knits or Banlon knits. Crew necks or long point collars, witli button or zip closing, Popu'cr shades of navy, whits or brown, 5.M.L (postage, 65c for 2) 8 USIbs.J2.49 oi. SI. 00 J hm WATER-SOLUB1- ".'j' CONCENTRATED! just add water 1 i- N BROWN FLORAL 5th South 1 Cth Veit serve system reported Friday. The nations money supply averaged $235.6 billion a day during the four weeks ended on May 31, which was equiva- 5 lbs. $5.43 . - NEW YORK Monetary expansion, which was very rapid during the first four months of 1972, slowed markedly in May, the federal re- lent to a 7.o percent seasonally adjusted, compound annua' rate of growth in the three months ended on that date. In sharp contrast, in the quarter ended on April 2G, the money suppjy grew at an 11 5 - runt annual rate a pace that many economists argued PLANT POOD nccl915.. Salt Lakes Leading Flu! tat" INSTANT-ACTIO- a Monetary Rise Slows m May , XJXt says west Territories. It would link up with a pipeline which would deliver the oil to U.S. markets. GUARANTEES RESULTS IN 7 DAYS Sterns will refund full purchase price at any tune J you dont get superior results m attractive, researen Queens University group. The Canadian Institute of Guided Ground Transport, based at Queens in Kingston, Ont., has released a report which proposes a $2.4 billion railway from Prudhoe Bay, along the MacKenzie Vallpy, to Trout River in the North- 364-554- 4 would produce renewed inflationary pressures Should it be continued for any length of time. (Copyright) |