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'- .- - ,- NEWS AND TELEGRAM, Tuesday, April 21 , 1964 , DESERET CIUSILIECSINfitys - -- Finance714ustrr--Oli - ' '...;.:'-:...::- i Of I y rtz , : 13.0ii n-ot- 113 .?. v The financing of this Worlds Fair has been a cagey operation, according to Mr , with Investors remembered all too well the 1939-4- 0 fair In New York, which paid back only 33 tents on the dollar end was wrild , For one thing, ground rents run any ;3 to 94 a square foot per year of this has to be paid at the FLUSHING MEADOW, N.Y.The New date the 'lease is signed, another - fourth York Worlds - Fair, which opens here --w- hen the building Ls beglid,--a- third fourth 'muchhas been after hoopla,Wednesday 7 ' ' due disaster. financial t a , b this July and the final amount is due facetiously described as the ',,, took In January. bee This fair's of a promoters , marriage offspring advantanagl e c tween big business and of the lessons they learned," Mr. "Akeady sve itet,a M a result, the $35 million loaned to ihe concession receipts, ha," Mr. Witt said. show business. Whatever else it might fair corporation by individuEds and banks The fair orightally anticipated le mg. 10' will be d off dollar for dollar'maybe by Tx, it will be a whopping non advance ticket sides at a discount the end of 1964. New York advanced the financial success. rate. "The last week this. wan offered, In fact, said Erwin Witt. fair $24 million out of its park improve. orders flooded in and no sold more, than ments fund, and this will be repaid in lull 28 miMon tickets," Mr, Witt sidd. comptroller of the Worlds it e kr Fair Corp., judging by the by the time the fair ends. This meant more than $35 million to e size of advance ticket sales, And finally, the fair eorporatien will the corporation, and was a big shot In the "we know it will be well ' end up with "a very nice sum left over" arm for the officials, who immediately re- , - over our original wMch could total $33 minion. This will be their attendance figures up to about ylsed Woodward used to restore Flashing Meadow into a mates." 80 rniillonwhich:thef admit is still con-' Mr.. Witt was interviewed just before servative. city park.' What is left win go Into the New York education' fun& the fair opened, with workmen racing in Not too long ago, the fair Was every- , ' , all directions Id vomplete the billion-dollThe big corporations, which are carry- body's whlppingboyln New York, said one ing 75 per cent of the exhibition dollars, all changed, and the spectacle for its debut Mpst of the build, lugs will be readyin fact:about 90 per know that getting Into the fair is not a is now looking for a 66 billion bonanza city ' cent, he said. .2 in the two fair sea sons. cheap operation. . ' - BY DON C. WOODWARD , Deseret News Business Editor ; : - where from One-fourt- h - - 1,a.11 , ', - , . ' ar ........................... . ustest FirstQuarter, NEW 777-6- DUCHESNE New York Stock Exchange reported YORK-(1.TP1)--T- Monday the first three months of.1964wasthA:busiest quarter 'nits historywith nearly 319 MiniOn shares changing hands. The previous record was ,315 million shares in the last quarter of . 4 1963. A - for The average the quarter was 51 million shares, unchanged from the vious quarter but up from the 4.1 million shares in the first of 1963, the Exchange's quarter U.S. daily-volu- Boos -- Pay WASHINGTON (UPI) corporations paid Ill per cent more dividends during the first quarter of 1964 than during the same period last year, the Commerce Department reported. Cash dividend- - payments by c000rations issuing public reports totaled $42 billion during the first three months of this year. Last year's first 'quarter figure was $3.8 billion. , --- - - Divi en - , e "It,' MVO 41111Citi 0,, p;477,7 .111.11, ERVIt 10.. national distributor for 5 MUTUAL FUNDS Fore prospectuaboaidat - , ertottieori man or clip this complete adver - tisernant and send it to: LIW HUNSAKER --EL 340 So. Main quarterly report said. Odd-lo- t purchases and sales an indication of the market participation of the "small o. 4,,,,Z,,,,:x,,,:,, GAS-LEASE- S :L.-- 3 pet cent' o!fix',Chargel -- dis- charges, patents, 'mining claim and other mining records, and public The pa3t year, however, Mrs. Burdick said little activity was shown in the mining records, as no new claims were filed, and only a small number of proof of labor oil Such clidms were recorded. ' -,- - , 800 - DOW-JONES711111- 100 ; .. V.4.0.-..0c---0--.i.R00..1.1s.-:::- productswith-U.S.Ste- el from 1255 until recently when he was elevated to assistant general manager of adminis' ' tration service. J. Stephens, now president of Jonei & Laughlin, will plead , . .. NetThidoitiéTal timing- - thi Ilicil INDUSTRIAL- - 600 50d -- 1T1 7.; AVERAGE::: - , , 400 - Al 200 ; gond -- 100 'Earnings eases? A 300 TéäiGÜIfLis 0' , 91111111 0 1964 1926 - u to comprise it, eleven stocks representing ten different industries recorded their peak prices prior to 1960. just nine of them hit their highs in 1963 or 1964. the Average And only twelve of the 30 itself during all of last year. ' 'Any particular moral? - - ' ' - - just this: - -- - - - . - - - - . - - , One of our qualified leasing d specialists 'particular. - ' III - PIERCE PENNER askingforour way is fine TAIL 129 ;IOU S.fMAIN STREET Telephone t ,b new ITOSI, KE SALT-LA- lit with us.- - - et:gf, ' - 'GEER. Lag AZ CI M la, ' U CD. agiti 9.7681 , the :more:you- te i - -- . ,. , IsaRE400000es BUSINESS -- TAD LOIDS Stock Mart ,....,,..,. ., t , n -- Africa Inkiest, Sold By Eimco I earth-movin- L NOW Electrostatic-Cop- , , - - . Vol. SCM Machines Only) - - - , y Paper: - ' , --,-- Special-Introductory-Offer- 500 nE I Order 1 Sheet fisio7 (Mal) 7$ - ,, Whiter - Lighter,; - PermaneLt-El - --- --- : I g Trademark SCM - - liW. Superior Color Print; , ' 1415 Siuth Main floolstered o -- eori. , - , , ;t files Systems Standard , ' 486.1212 - 4- - - , 1w))00, SZU MSS WS Ma 11 CO., INC. I. FIRST SOIM1 IT. SALT LAKE CITY, WAR - 2Ist, South 1Z211 MI f. 1 MU MSS 111 , PHONS , - DA ' , , 2 1 22 2 22 22 2 , ne m-o- , COAST '111VOISERSIttiN YORK STOCK ECCHANGE ts 11 22 a : Indi-- - 7.6.101q1:: STATC easy' As'an , NAME 6- o present car. Call for complete details On'this saving plan. No obligation. , ti.p.m.xtey .- ITY a MGiMilaWM - COAST TO is-s- a business or industry, we invite your inquiry.We II give you cash for your - $4t 1 Please 'send 'me free booklet on Tax Exempt Municipal Bonds and comprehensive ADDRESS y at Freed's , -- SUS wittfli (t;$111 , MunicipalBondsis riN ' VRIVI 10: Or. ' t V ,'4.,, . , . OL.11,,a pa -- - . : Per Minimum L--- IIIP I , -7 wittili (tali may income . ----- - - federal's air present:: than after-ta- , ZDEMPSEY-TEGELE- R SALT LAKE CITY ,231- - E. - - '' : 1011101111 CITY 1 - taxes Therefore x' return on many other this income is higher investments which: prov,ide less security' Of principalWrite your free booklet. "Why The Informed Investor. Buys Tax Exempt Stuni,ipal Bonds" and also a comprehensive chart showing 1964,and 1965 tax exempt vs .. taxable yields.; - Flit more In ' be able to save' with tax 1 free municipals - Carefully selected ;IMunicipal Bonds;-:-' provide a secure, re,gular income through interest, 'Usually The more you make:. exempt from - , SMITH INC Wit per cent 011, free - --- G. sold 50 Cd.,--whic- year;looksTfor-196t-to-beTeven-lighert avo04.i!!..q.y04...r-p-..-::441co- , :you. Or maybe you'd prefer the more wary approach of MERRILL LYNICH ' - Sunset Life Insurance 4 happytomeet-wit- h T-- - , - REBATE, Leasing, In -- tolky's-market.---- . . 0-,64- EQUITY' RENTAL; -- --- .,,.,, COp : to generalize about stock Prices; It's always --they don't all move together. In 'Substitute for selectivity when it comes to successful vesting and that's especially true in NiThich stook should you buy, sell, or hold? circumstances and inon That depends on your your iestment objectives growth, income, OT relative stability but ifyou'll give us those facts and send us a list of your present holdings and their purchase price, we'll analyze your portfolio as carefully as we can and Make only those the most Sense in your ease. suggestions that seem to make There isn't ny charge and you aren't obligated to use our brokerage services either, in case you do decide to make any purchases or sales. If you would like to see our suggestionsdust write in ' confidence to WALTERManager ,,k. , Z-3- : Out of the 30 leading stocks used 1;,,, - - , - 'Check any leading index of stock prices in 'fact, and all-tihighs. you'll find them sitting at But look behind the lines on any chart and you get a different story. For example take the Dow-Jone- s ZlirMEMSiZMEI : -- ... .... e. , cL, for -- 4:, .,::4 ..fair's comptroller, 0:00.t.;,1146:Antitiät0i s a es- r' R eco to the charge on May 1. Stephyear ens was assistant vice president ended Feb. 29 was $3,014,972, the firm announced Monday at its of sales for Bethlehem Steel during the period covered by the annual meeting of shareholders . indictment. ' Net earnings a share amounted to $1.27. In the preceding Federal Judge Edward WeMyear pet income was $2,390,041, or $1.01 a share, on the .2,- - feld, who heard the pleas, sched371,283 shares of stock outstanduled June 1 for the setting of a 1 ing. was the second harvest in tentative trial date. ," It The seven Content Down - , other companies a row in which average yield,had Sugar production by U-- I dur- Increased more than one ton per entering pleas were Bethle2 Mg the year was 'equIvalint to acre. However, sugar content of hem; the No. producer ; Jones 6,537,941 bags weighing ,100 the beets was the lowest since & Laughlin, Armco, National, pounds ,each, a new company 1905, 0, situation common Republic,- Wheeling and Great record that was 93 percent throughout the western United Lakes. Youngstown Sheet, Pittsburgh higher than the previous year. States in the 1963 crop. Steel and Granite City Steel were A record 2,722,339 tons of sugar -'rhe annual report noted a vig DIVE 2W:UW utrators--OT- J vverp narvestea not defendants in the indictment 821 acres by growers for the ing recent' years hi Eastern IdaThe indictment was returned company last fall, with a yield ho and the sugar company is ex7 and sparked fears in the April per acre of 20.81 tons. panding its Idaho Falls factory business and financial conummi33 per cent this yearto keep ties .4hat,the. action lead pace with -- upporturdties in the to a deterioration might in governarea. The US. Department of ment - steel Industry relations Agriculture has granted a re- which bad impmved since the serve allowance of 8,140 acres to 1962 'steel crisis." , r new growers of the area to support the expansion. Mechanization Program pi In 1964, growers for the corn-- 1 Rise In pany intend to contract for about NEW YORK (UPI) 1501000 acres of sugar beets in Texas Washington; Idaho, Utah, South Gulf Sulphur Co.- Tuesday- reriseIn a first and Dakota, Oregon Nebraska, ported quartet an increase of 12 per cent over profits to $2,764,000, or 28 cents , 190. , per share, from- the $2,319,989, "Conilderable progress was or 23 cents per share, earnod , interesting question. The answer Is that made in. 1963 toward spring in the' initial 1963 period. znechinkation of the sugar.,Aeet The earnings gain was marked anyone leases who crop by growers for the com- on a rise in sales to $15.2 milfinds it good business r pany," the report said. wills re- lion from $14.7 tvOlion' in the Thus,-outo do so. duction in dependence on mi- first quarter of 1901. good customers ronge,, grant labor resulted largely from from larger increased use of chemical weed . ..,. ....: ,....... control and precision planting financed ompanies to , of seed. Further improvements the limited capital, in materials and methods for -Individuai operator. chemical weed control appear to oth-have be almost ready tor use- - . , one thing z .Looking to the future; the reIn commongood -- noted that no acreage report Established tocal Corporation is interested in credit.' Yet, their strictions were imposed on the Interest may range 1964 crop, and it is expected Increasing its base for warehausing receivables:. in- from a fleet of trucks be will sugar production interest, paid monthly, minimum ,$10,900 creased again, assuming normal . investment', to a personal results. All operating faccrop office 'autornobile or core this newspaper tories are expected to work at Reply Box 0, If typewriter.,you're capacity hi the coming seasdit. V thinking of buying, satz rem! szss cos ssmi Imm Ems a Kai 11 ems ssmt Ems cm, msm you owe it to ' -yourself to check:Into ,; AND COM BUT YOy. AFULISTH IIAS leasing. Geer 7-.- I -- said President James L Davidson Tuesday.-Mr. Davidson, who conducted a regional stockholders meet. I the Hotel Utah Monday night, said sales this year were at ing ' 20 per cent ahealt of , , '.z, running ,, , '' x,' last year, which he termed "the In 1963 against $8 in 1962," , SI highestyolume year in our his said t',$.4', 'k ' , , -e- . , , : e added that-thMonday I , , :: tory."--1 t ',' , '' ' 114 shareholth 1 attracted ':, N The Olympia, Wash company meeting , , -'' gained 230 stockholders in Utah ers representing about three per "That's stock. Amercent firm's of A, the Old it when with merged , , t ,, Life Insurance Co. about better lhan we do in our reg. . lean Mar meetings in Olympia," he ,, three years ago, he said.' said- :.. Presides Director . , .., now sells over stock , Sunset's The regional reeding was pre- - James L Davidson we counter for, between 3155. sided over- by Carr W. Buelmer , cites gains, a director- for Stmset and &di and $160, he said. Most of . e Seattle area. ' trading 'Lake bank executive. . 10 The firm does business in .:, western states, Mr. Davidson said,-an-d has about $114 million in force. ' insurance of . our "At ;resent growth rate colOpotOiT.-::::::::...:.1969 arid this could double-b- y, triple by 1972," he said. "If it doesn't, I'll be out of a job." BY UNITED PRESS He said the firm planned no INTERNATIONAL new acquisitions or eVen tsates do to business. which "We're In To' Seek Controi WHITE PLAINS, N.Y. (UPI) primarily interested in boosting NEW YORKThe Chess.' -- - International Business Ma. our activity in Utah," he said. Ohio Railway and peake Utah chines said lt has worked out GeneVickersis general the Baltlmore Ohio Rail, a computer program tailored for agent. road - amounced they will $28 Million ' move to assume effective constock mEtrket analysts. IBM said 1963 were 828 mn in New sales trol of the Western Maryland. wide a computer can gather a said. The company's in- Both lines already jointly owls he lion, range. of! information; on: stocki come per share was $3.94. "Ad63 per cent of the vot: but won'tmake any- - recom justed for the value of insurance -- nearly The affiliation blte--stock. ing PEIMUE aOLLI ly would create eventually At A. H. - Pfansclunidt, manager rail system extending more than -12,000 trdles from St. of finance industry marketing and Chicago to New. Louis for IBM's data processing diviYork... sion, said the 41financial analysis. program" makes no judgil'ent The Su. WASHINGTON on market prospects or the prospromo Court struck down th stocks. pects of individual system used by , Consol- consignment The proz..ammed computer, he LONDON (UPI) some oil campanies in selling explained,-wi- ll free the analyst idated eGold Fields ,Ltd.. has gasoline to. consumers.- - T h e majority fnterest.In high court ivied that Union from much of the clerical work bought-th-1he- must 10W- perform toass- Ehna) (South Mrica)-Ptyr-Lt- d. 00 on which he for 137,500 pounds ($385,000; laws by refusing to sell gaso information emble cash. The balance of the capital line to a dealer but instead ' bases decisions. is "held by thi Ethic Corp. of "It merely serves as a sup- Salt Lake tabling ownership and paying City. the dealer a commission. plement to the analyst's perConsolidated said it ,acted sonal judgment, experience and De Angelis Admits subits South- African the various techniques be now tlirough NJ. Anthony NEWARK; in Ehnco the republic uses in making stock evalua- sidiary. sole rights to sell and ar- De Angells broke a long Si. has ' tions," Pfatschmidt added. range for local manufacture of lence and admitted making The list of instructions, which Ehnco't range of products, in $100,0004-inont- h payoffs to a must be programmed on an cludin loaders and ether min- company treasurer in return g IBM 1401 computer will be availfort eliminating interest ,, on g and equip able in June, the company said. ing ' multimillion dollar loans. ,- ,: W. ROIL iriTO.n.ielnte.:6:06-,:',--- , , r 111 Id , nocent in federal court Tuesday a federal indictment alleging a Plat 10filx-prices Attarbon sheet steel, the most widely used steel in consumer, products:,... James P. Barton of Pittsburgh, one of the two steel executives also named .itt ' the indictment, also pleaded innocent. He was product manager of sheet and strip- .... US NEW YORK (UPI) Steel Corp. and seven other major itee producers Pleaded in- e Erwin Witt . , ' 900 estir!latet) $5 million for this end he said. "We now estimate about $11 Million, and it we do ths entire thing ,,' it would be $23 million." that alone would be a major under. alone "45ki0i,,,,.,,,9,,,,,k,4.;."4:,,:$,,,, I ' a park? "Orig. InanYy! ' ::',,t, P1,00..dilOpoti.liti -- nvestor"totaled pared with a sales balance of 3.3 million shares in the first quarter of 1963. Popular...common ;stock- - price averages rose during the quarter to record highs, the Ex. change noted, declined slightly at the end Of March: and closed the quarter up about 6 per cent from the start of the year. tVvet the qOarter; the report said, 808 issues were up, 348 were down and 28. unchanged. But at the same time the yields on common stocks traded on the - Exchange declined to their lowest levels in two years, ending the quarter just above to loot anIwah be oldd. The cost of restoring it as Wt .; -i- -55 -- millionshares 41 million in the same against period last year. Purchases 'outnumbered sales by 100,000 com- ' $116,101,::,fjpni--,..F:::;'-:::-:- DUCHESNEOli and gas leases In Duchesne County have accounted for an almost "land Office" businestincrease Jn Lthe Duchesne County recorder's office. Mrs.. Maxine W. Burdick reports the activity in her office tbe pastyearlicreased-th- e riumber-o- f documents recorded nearly 1,000to 4,675 for 1963, and the fees collected amounted to $15,016.60, including $160.85 for sale of certified copies of documents recorded or otherwise Presented for copy work 'TI - Mrs. Burdick's office is equipped with a photostat ma-chine, which is used to record most of the public documents, Including oil and gas leases, assignments, and other related other thee-scie- - CREATE:1300W FOR 'RECORDER -- dons to some of the exhibits. moreover, as one far official tens vb. Iting newsmen, 'It would take 12 days, 12 hours a day to see everythhig." What happens to e2 'this when the fair la ever? nord, tear hhiltlinrect wm remain of ea:id mr. witC ...They are int, which .win become a museum; the city's (New York's) exhibit; the Unisph ere. and the Heliport." , s, ' Au The red will be torn down to zoom' for the park.' Many were not built f xot ,xotk..:::,,,V .quesTe'ss put the charges for a family of four for a worthwhile day at the fair at $27.50. That does not include supper at a good restaurant. a 96 ride in a helicopW,AradmW S , tr,tedrarmiist.:vz::.,, n Exchange ,Keports - Apparently, crMcs underestimate& the promotional power which U.& 'businessmen , would put behind their exhibits. For exam- - ,pie, the fair will be featured in more that 0150 tendon worth of paid advertising by companies. ' ' The reason is clear. These eompanies have aiready spent so much on their ex- - ' hibita that theY are alM(151 einbamtased. te talk about it. Ford, for Instance, originally budgeted $21 million, but ended up spending tie minion or more. General Motors planned on p5 spent Pi 's Arnim. $8 million exhibit equals 13$ miMon bottles of Coke:- The find tab for 34 corporations hasbeen estimated at upwards of $300 minion. They all expect to get some Di 'this aknosphere, It would be hard for a' firm to come out ahead, but U.S. Steel, ,,' which built theAlnisphere for $2 million, receives credit ht. all World's Fair promo- lions little lhie 'that reads, "Uni- 'sphere presented by U.S. Steel Corp." wM it costyou? pm estimate Coca-Cola- -- - ndfncia , |
