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Show m- Oil Dividend Director-- , or Equity announced a Oil Co dm-den- semi-annu- cents a share payable Oct. 2 to holders of record Sept. 8. of 20 Livestock 'Loans forneedsyour X' production N.Y. Bank Boosts Lending Rate to - The NEW YORK Chase Manhattan Bank said Thursday it is boosting its prune lending rate from 5 4 to 5 percent effective (P) Eridav. in the j commercial bank in the country, said it is doing so to keep mlt nhc when it was declining from a 7969 peak of 8 j percent to a January bottom of 4 14. money market. Most other banks have been holding their prime rate at 5 '4. The rate, which is the interest charged by banks on short-terloans to their most credit worthy corporate customers, has not been as high as 5 C, since last November, Chase, third biggest Star 'ey Peters, Mgr livestock PCA S.LC.'BOlj Call Utah rates in line with other 52 Salt Lake Cits, I tali Section It WASHIXCTON VPI) The Ilou.se subeomrnt'ee on commerce and finance, hoping to remedy the problems that brought tne stock market to the brink of collapse in 1970, LESS For Pay Quality Tires at Pearson Tire! EVERYBODY TIRE PRICES has' urged Except 4 2 Cord Body. Free replacement first year. or E70-1- 4 F70-1- 4 (7.75-G70-- 1 1 (8.25-1- 4 H70-1- 4 (8.55-1- 4 J70-1- 4 (8.85-- 1 AVERAGE 10 $38.73 $40.56 $42.63 $45.80 $47.56 $48.26 (7.55-14- ) or 4 or 15) 4 or 1 5 or 15) or 15 or 15) or 15 4 or 15) L70-1-5 (9.15-15- ) aw And Seiberling Announces an e 110 NYLON Amazing value on our premium level. Best conventional full FOUR-PLtire. CUT 178-1- tl fifi flO'OO 4 (7.55-14- ) Goodyear, Goodrich and Firestone announced another price increase on tires and other companies quickly followed suit . . . all except who actually REDUCED distributors and WE'RE SIEBERLING prices to PASSING THE SAVINGS ON TO YOU! r (7.75-14oG78-l4o- 15) 15 or 15) r (8.25-1- 4 H78-1- 4 (8.55-1- 4 J7S-1- 4 (8.85-1- 4 or 15 or 15) or 15 or 15) L78-1- 5 (9.15-15- ) $21.88 $23.88 $24.88 $28.88 Among the major mendations: "While Tiie Companies are raising prices, we are reducing ours. We can do this because we've become tougher on ourselves, making changes in manufacturing and marketing which make our operation more efficient. We want to grow by giving our wholesalers more teeth in the marketplace." 200 2-- 2 (7.55-14- ) 15 F78-14- (7.75-G78-14o- 1 r (8.25-- 1 H78-1- 4 (8.55-1- 4 J78-1- 4 (8.85-1- 4 178-1- 4 or 15) 15 4 or 15) or 15 or 15) or 15 or 15) 5 President MORE PROOF THAT QUALITY 4 COSTS LESS ALWAYS $24.88 $25.88 $27.88 $29.88 2195 SOUTH MAIN $32.88 State 3500 4800 West $34.88 41 COS. Ph. 262-847- 3 All (9.15-15- ) J. I. Cummings, GRANGER 5. Ptices Plus Good Casing and $2.61 to $3.64 fed. at 60 Series LEMANS SS WIDE SIXTY . . . Nylon. Raised White Letters ly TiferlS uatmmg PROVO 265 5. 1 st West Ex. Tax. Premium G60-1- 4 G60-- 1 5 RICHFIELD 660 is our own S. Main 160-1- 5 designation. m, recom- L"p m stolen securities a multibdlion dollar business for organized crime. Rate Abolition Gradual abolition of fixed commission rates for securi ties transactions in favor of open competition for brokerage business, no matter what the size of the order. Permission for institutional investors such as mutual funds, insurance companies and pension funds, to become stock exchange members as long as they are barred from handling business for their affiliates. Stiffer penalties, up to a r $10,000 fine and a prison term, for violation of securities laws and regulations. five-vea- Single Rule Establishment of a single net capital rule to make entry into the securities business easier for competent broker-dealer- Creation, by Jan. 2. 1974. of uniform accounting proceand dures for broker-dealer- s by Dec. 31, 1975. of a single national system of clearance and settlement of securities transactions, leading to an eventual market "central PLYWOOD PANELING The study grew out of passage, in December of 1970, of the Securities Investor Protection Act that was hurried through Congress in the wake of serious financial troubles on Wall Street that led to the collapse of 160 member broker firms of the New York Stock Exchange alone. ABITABI BRAND Both to Blame Beautiful Everlasting BUY & SAVE $31.69 $31.69 $35.23 AT lE2 ugut Page 12 anti Down the Street You Want Peace, Quiet? Check at Broker Office trading system." Eventual elimination of all stock certificates to reduce the crush of paper work that nearly drowned Wall Street in recent years and to thwart slick thieves, who have made BELTED Premium long mileage for even wear. Needs less balancing. E78-1- 4 . d g Seiberling's Statement . 170 The report was compiled by the subcommittee, chaired by Rep. John E. Moss, after a year-loninvestigation that included testimony from 87 witnesses at 26 days of public hearings. Many of its findings jibed closely with those of a compathus rable Senate panel indicating the direction securities legislation may take when the new Congress convenes next January. 10 flfl JIV00 or 15 F78-1- 4 bro- page, 95, report made public Thursday, the subcommittee severely criticized the performance of the securities industry and the government agency charged the Securwith regulating it ities and Exchange Commisfor permitting a sion (SEC) "state of chaos to reign on Wall Street. It threatened legislation unless "failings are remedied oluntardy. Follows Probe (ig? SEIBERLI1MG RADIALS Whitewalls. 40,000-milwear. Guarantee. g ker competition and protection for individual investors. In a eszas: :3 wide-rangin- reforms keyed to greater RAISES Er'ulas Morning House Panel Urges Reforms for Mart The move by Chase w by Western Pennsylvania National Bank. Lincoln Rochester Trust Co. of Rochester, N.Y. and the Bank of New York in New York Citv. - PROOF! You pilmti r$u$in$$ In reviewing the reasons for the paper and cash crunch that caused the crisis, the subcommittee found that both the industry and the SEC were to blame. "The subcommittee's hear- ings show concretely that the (N'ew York Stock) Exchange's fallings were one of the major causes of the operation and fiw hich breakdowns nancial crisis in constituted the 1967-7the the securities business. report said. Nor is the commission without responsibility for the 1967-7debacle; instead of regulating or supervthe ising the commission has usually negotiated with them as if they were coordinate bodies. By Robert H. Woody Tribune Business Editor Want a little peace and quiet? or the upper Amazon: No. no, no. Not the Uinta wilderness broker. local of otfiee the your Just check into Guaranteed: teleohones 5 no ringing Peace, quiet, For as the big board has boomed, the market particularly the settled speculative "pennies" fringe has of inaction state into a turgid The causes Sam Dans, partner in Wilson-Daviissues says there been too many local underwritten with not enough money. Even the outside money that used to bomarket lster the local has dried and cool oexM up Brings Rule WASHINGTON' Each iront wheel oi a Vega sports disc brake a big standard lor steady ?ops h Each seat is la! fcc.ni cu. h:ored and contour molded to fit your logs and back, softly Voca is the only little car with a guard beam m every door added protection in the event for of Eor strength, two ste-c- l roofs not For one. just quiet, the inner roof acts like acoustical tile. side impact. (UPI) -- Government investigators concluded Thursday that 42 persons might not have been injured aboard a jetliner in January if the crew had paid o seatbelt more attention safety than meal sendee when the plane entered an area of air turbulence. As a result, the National Transportation Safety Board recommended in a report on the accident that the Federal Aviation Administration (FAA) establish this You can go .ru,Ll?0 rules under normal driving cend.tiens, before Vegas engine air lifter needs A bigg-'er.g.he than most little cars have makes Vega respond : quicker, mere fun to drive Vega has rocker panels that ac- fually clean tnemselves of salt. dirt and other rust causers. You get a coil spring at each wheel (same- as you do on a big car) to smooth the r.dn - replacing Ap sons Ma party natio elairr versi buying. Mr. Average Investor has not been involved in the NASI or Anex and he certainly hasn't been involved in pie OTC. mat ket in recent months. Thi ert I said beep stron Broker Optimistic Edward J. Mawod is optimistic. The OTC for that volatile period in 1968 and 1969 when market except has it was riding high on the prospects for gold and silver board. behind the big always lagged doctrine of "InacRight now. the OTC is afflicted by the r tion begets inaction. But someday: "Action will beget action. In the meantime, OTC market companies have a quality have they did not have in previous go rounds. Many actually he some are and says. cash flows, profits, showing Before, many started out big, and ended up with nothing. The difference: This time, the companies have management and product substance. Not Promoter Types The managers are not the old promoter types. They are more likely former Lockheed or Litton engineers and managers who have solid ideas of their own. Edward Brown of Brown Securities Co. says it's simply been a typically quiet summer. "Everybodys waiting to ei; what gold and silver will do. If the summer is "quiet, however. it is not as quiet as last summer at least tor Brown Securities. Ernest Muth of Mountain States Securities has been profillocal OTC stocks for several years. the ing This week 32 of the stocks were down. 25 were up the 11th consecutive week downers were greater than uppers and down record of 1970. he said. near the Sharp Setback Shakes Jittery Market Prices Allen cisco lho.Ot Aik have NEW Alumin plus. Du Antimc lob Lc Cooper 7 50 leod, Monqo reouior. Nickel, Coiborne Piatmij OT Ouicks Tm N TungsL mun duf Zinc, LOND closed tt Exchonpi buyers 4 ng oer with buv Dec ton Soot ci ers New York Times Service A jittery NEW YORK stock market took a severe pasting Thursday as prices had their sharpest setback in more than three months. Declines outpaced advances by ratio. about a The Dow Jones Industrial Average tumbled 11.97 points to finish at 958.38 with selling by investors and traders late in the session accentuating the decline. Of the 1,758 issues traded on the New York Stock Exchange, 970 fell. 468 rose and 320 were unchanged. Glamour Issues Glamour issues were under the ses pressure throughout sion and had the biggest declines. Most had been declining in recent weeks because of 4?4 ( forword ond selli 300 tons Soot t 1556 one forword or d sell tons I'M Snot h VI ond 0rword and sell ton 525 S)Ot ond seiii DOunc er 15 Soot rt e Air Accident lunct were resul side-lines- 0 The report said there had on been "undae emphasis regulation instead of competition in the industry and said this should be ended. broki Panel Cracking Down Commission has been Again, the Securities and Exchange that is. foimeily "shells of the on down several cracking new principals inactive companies that have been picked up by that. or reline tms with avowed intent to produce And, further, says Mr. Wilson, the new commission price schedule has mitigated against the lower price stocks. . Another point. The average investor is staying on the The impetus on the New York and the American Stoqk from institutional Exchange, he says, has been primarily Broker-deale- An e 73-- 0 DjnnriL in si so ofj orward ond sciie oenc oO sutlers S 06 lots profit-takin- In the glamour group, Corning Glass dropped 5 to 253: to 158 ;!4 ; Xerox was off 4 to 152 Honeywell lost 5 'j WASHir deposits current t International Business..? oored Machines slipped 5 to 407 4: Eastman Kodak was off 3 to 128 Disney was dovvn 5 i4 to 183 :ii and Upjohn tumbled 3 i,4 to 111 Withdraw Deposits Cosh boi Public c Biggest Loser The biggest loser of the session was another glamour issue. Burroughs, which plunged 7 :,4 to 209 in active trading. There was no corporate news to account for the drop. Yrthdro OOS4tS lash Bo ubiic CMICAC Wheat Con ui Dots u bite &4' Barley osn Sovtiew 'ON Ch OFFICE SPACE WANTED The Federal Government has a requirement for 1,450 square feet of net usable offiefe space in Salt Lake City, Utah, as soon as possible. Space must be with air conditioning and subdivided into 6 offices. parking for 3 vehicles is required. Space available may be listed before Auaust31 1972, with: first-cla- ss Off-stre- et Whenever the passenger seatbelt light is turned on, irrespective of whether or not the flight attendants are performing passenger service duties, they shall immediately visually cheek seatbelts and remind the passengers to keep belts snugly fastened. rtAy Acquisition Branch 8PRA General Services Administration Building 41, Denver, Federal Center., Denver, Colorado 80225 Parmer ntol PuilAAon CrvLnds DefCon r'ovton oiCons nmoMe omet omstoci onsEur roff rown 'cxjon ToUtcfr i 'I Mon Oyton, ',o Com I Tiny Turner 0 thinks The accident occurred Jan. when a National Airlines Boeing 7s7 encountered turbulence near Lake Charles, La., on a flight from Miami to Los Angeles. Of the 3311 persons and aboard, 38 passengers four stewardesses were hurt. Four of the passengers and one stewardess were 4 J ndmg ihebtg Silver Eagle is the way to go1 t s dependable economical and lull ot friendly loins Save time save money and fn;oy your trip more ON V s lc 9 SHOP SPACE WANTED The Federal Government has a requirement for ,500 feet of shop space and 4,000 square feet of adjacent, square fenced storage yard in Salt Lake City, Uah. The shop space must be weathertight having a minimum ceiling height of 10 feet and adequately lighted for close machine work. Easy vehicular access to shop from storage yard is required. Space available may be listed before August 31, 1972, with1 power vcr.t.lution system keeps air moving through the car, even when it isnh moving A Battery terminals are on the side and scaled, so they shouldn't cor- rode and you from starting. Did you know that The Vi ga Drive Is On? It's not something you give to, il s something you at your Chevrolet dealers: a chance to test dnn, test handle, test emoy Vega's better ways. g--- t 1973 FURY Y if ' r. - III ijf r M" 77 itipTTTiTOTTFnrF 1 T i I A A i i v fv 83 50 Ullll Ch evrebt. Building a bolferwayfoseelhslLSA ' p ; ( Acquisition Branch 8PRA General Services Administration 411 Denver Federal Center, Denver, Colorado 80225 t i Yr,u f t itf m Cl a |