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Show Case of War Nerves? Advice From BIJ1 isalt Cake (tribune 'Business -- Market Takes Dip - The stock YORK (UIl) climb market ended a Tuesday and succumbed to profit-takin- NYSE NEW five-sessio- n g pressure and nervousness over war. Trading was active. Oil issues, which had been leading the advance, also were victims of the slump. The Dow Jones industrial average, which jumped 15.02 points Monday, fell to 900.67. The closely 5 03 points watched indicator gained 44 points in the past five sessions The New York Stock Exchange index fell 0.39 to 75.65 and the average price of a share decreased 19 cents. Declines among the topped advances 1 ,2112 issues traded at 4 p m. the Iran-Ira- 879-70- 9 Gary Wicks doesnt mind cism of the Bureau of Management Utah office he But, please, he told a group volume totaled 50,790,000 compared to the 50,130,000 shares traded Monday. The market opened higher, but quickly lost the momentum of Mondays sharp dim, caused by optimism among traders that interest rates wouldnt climb any higher and the Federal Reserve would ease its right rein on the interest money supply. Short-terrates were lower Monday Composite Volume The market tried to climb out of its slide on buying by cash-ladeinstitutions early in that afternoon. But profit-taker- s won out in their bid to cash in on the overbought markets recent rally Concern over the Iran-Irawar and the possibility of its widening to include other Arab nations including Jordan, which has already expressed support for Iraq, also pushed the market lower Composite volume of NYSE-listeissues on all U S. exchanges and Over the Counter issues totaled 56,798,548 compared to 55,454.910 traded Monday The American Stock Exchange index 36 and the price of a share fell 2 26 to decreased 13 cents. But the National Association of securities Dealers NASDAQ OTC index rose 0.16 to 196.17, a second straight record high. IBM was the most active NYSE listed issue, down tod?. Mobil, the second most active, dropped H to 74. Stores was third, up 4 to 15. On American Exchange On the Amex, declines topped advances among 820 issues traded at 4 p m. turnover was 6,920,000 shares compared to 7,290,000 traded Monday. Houston Oil and Minerals was the to 40. most active Amex issue, up Gulf Oil of Canada was second, down to 23, and Dynalectron Corp. was to 13. third, down Wednesday Morning October 8, d 1 345-26- 9 1980 Sod ion Pago 6 C By Glenn Ritt Associated Press Writer To listen to JapanWASHINGTON ese automakers these days, American cars are as roomy, as technologically advanced, as mechanically sound as any Datsun or Toyota. The high praise from strange quarters is actually part of a strategy to try to avert import controls which the United Auto Workers and Ford Motor Co want slapped on Japanese cars and trucks now streaming into the United States. The touchy issue comes before the federal International Trade Commission on Wednesday ; its decision could affect Detroit's shaky future, U.S. joblessness and relations with a steady Asian ally. Specifically, Ford is seeking an import limit of 1.7 million cars and 260.000 light trucks annually for five years. In the single year 1979, imports of Japanese vehicles alone exceeded those numbers. Ford claims such restrictions would increase domestic sales by 3.9 million to 5.4 million, raise car company earnings by $5 billion to $8 billion and expand domestic employment by - all-ne- It enters a field where British Ford, Frances Renault and Italys Fiat already are established rivals. PM FOR FURTHER INFORMATION CALL SALT IAKC HILTON UIEIGHTS & MEASURES AM. G' (601)355-155- commodities trading service 5 to Singapore hatchThe two-doback Metro, with a transverse-mounted engine, is essentially a grown-u- p version of the Austin-MorrMini, the tiny box-lik- e model which revolutionized car design or is VW Readies STERLING HEIGHTS, Mich. Volks(AP) wagen of America Inc., broke ground Tuesday for a $90 million paint shop at the site of its Sterling Heights plant, the first substantial construction work on VWs second U.S. assembly plant. 20 Some of these was to save on taxes are simple (hut youd be shocked at how many investors overlook them) Some arc more complicated and requite careful planning Some apply virtually to all investors Some apply only to investors in spev ml situations Some arc earmarked for investors of more modest means Others, frankly, arc for the rich ( But (hey re Le. mating' i Whatever your investment goals and strategics, this booklet can help you save a lot of tax dollars And Merrill I yneh would like you to have u Iter I ven though April lt'th is tar away, the best time to start thinking Act. years In fact, imports comprised car and truck of the U.S. small car 42.9 percent in 1980. 31.7 market percent in 1975, but The Japanese also argue that Denew small cars such as Chevrolet's Citation, Chryslers and Fords Escort will make U.S. troits rs the domestic auto industry. Industrywide, three out of every 10 autoworkers are laid off, about 85 auto part plants are closed and more than 900 car dealers have gone out of business, according to Ford. Japanese producers are taking much of the U.S. market for these vehicles and producing on overtime, while U.S. taxpayers are paying unemployment benefits to American workers on layoff, Ford said in its petition to the ITC. Japanese automakers say this begs the issue, that escalating imports are the consequence, not the cause, of Detroits agony. The Japanese say they simply filled a vacuum that Detroit due to poor planning and events beyond its control could not fill. They support their argument with quotes from U.S. auto officials, Congress and the ITC itself. and ago. The car will compete with British Fords Escort, the Renault 5 and the Fiat 127 but British Leyland claims it w ill set new standards in both economy and price. Hertz Reduces Fuel Charges WASHINGTON (AP) The Hertz Co., a national autombile rental firm, has agreed to reduce the prices it charges customers for gasoline for a year in response to Energy Department overcharge allegations, the department announced Tuesday. The department said the company has entered into a consent agreement under which Hertz will return some $800,000 to its customers through the gasoline price reductions. The announcement said that in approving the agreement, Hertz does not admit any violation of federal gasoline price control regulations. The Energy Department's Office of Enforcement alleged that Hertz had improperly calculated its gasoline prices in car rentals since Demand Dried Up When the price of gasoline doubled in from 65 cents in just over a year early 1979 to $1.30 by June 1980 d demand for big, cars dried up almost overnight, replaced by autos. demand for small, The U.S. auto industry's ability to satisfy the rapid shift in demand was less than adequate, the ITC said in a staff report last month. Detroits problems intensified this year when credit controls and a sharp jump in interest rates deterred car sales. Interest on car loans in 1978 averaged about 11 percent; this May, it exceeded 15 percent. This helped bring on the recession, which in turn cut further into sales. inflation perMeanwhile, double-dighigh-powere- Paint Shop The plant was turned over to Volkswagen by federal authorities when production of the Armys Lance missile ended in early 1980. It eventually will receive an investment of close to $300 million for renovations and additions. 1973. 9 New Boeing 767s For United Airlines CHICAGO (AP) United Airlines said Tuesday it has ordered nine Boeing 767 jetliners at a total delivered cost of about $400 million. The price includes engines and related spare parts. All details of the agreement have not been worked out. it further eroding personal sisted, Renovation of the main building is to begin early next year, and production is scheduled to start with 1983 models with eventual employment of 4,000 people. incomes. Play Down Increase Nissan Motor Con., maker of the Datsun, argues that imports have not substantially increased their share of the small car market in recent years. The twin-engin- e, 4 at planes will be delivered in the same time as Uniteds initial order for 30 of the craft. 1982-198- Logan Park Plan Aired Plans LOGAN (AP) to develop 140 acres of land adjacent to Willow Effective Annual Yield on Short Term Trust Deeds Just published! This booklet of practical ideas investors can use right now: And l free. te Mr. Wicks, who has been Utah director since September 1979, said the BLM is trying to lessen impacts of the wilderness survey mandated by Congress in the Federal Land Policy Management front-driv- e Braniff, along with other airlines, has been seeking permission for flights into Japan from the Civil Aeronautics Board. But it is still awaiting a decision. airline also anThe Dallas-base- d nounced it would suspend for the winter season its four weekly flights to Amsterdam and Paris, effective at the end of this month. No resumption date for those flights has been announced. It plans to continue its winter service to London, Frankfurt and Brussels. Heres important information from Merrill Lynch to help you save money on your 1980 taxes. up-to-da- inventory of wilderness lands and a possibility that some 2.4 million acres of Utah may be set aside for wilderness, he said But rmits for exploration and development on wilderness territory could still be available, he stated theres Japanese car companies, operating at virtually full capacity the last two automakers competitive against years, exported 47 percent of their imports. entire production. At the same time, Detroit concurs to a point. U.S. automakers produced at only 79.5 in 1979 of and evei To Take Time percent capacity less in 1980. Actual U.S. car production U.S. cars will be competitive, agrees declined 8 percent last year and 29 Escort will be Ford, whose percent during the first six months of rated at 30 miles per gallon in the city, 1980. The drop in light truck production 44 on the highway. was worse, falling 60 percent in the first But, Ford adds, conversion to domeshalf of 1980 from the same period last tic models will take time. Import year. restrictions would break Japans Devastates Industry momentum in the U.S. market and give Detroit claims the onslaught of the domestic industry a breathing spell Japanese vehicles has helped devastate to catch up. November, will be based on powerful statistics: Japans share of U.S. auto imports jumped from 33.6 percent in 1975 to 62 percent during the first half of 1980; light truck imports rose from 46.7 service of all of 1980. The panels recommendation to President Carter, expected by late dropped Guam. percent. sales in the United States increased from 8.9 percent in 1975 to 15.1 percent last year to 22.5 percent in the first half 170.000 to 240,000. DALLAS (AP) Braniff International Airways is indefinitely suspending its three weekly flights between Los Angeles and Hong Kong via Seoul, the company announced. Braniff spokesman Michael Kaeser said Tuesday that high fuel costs and increased competition in the transpacific routes made the economics unsatisfactory" at this time. The suspension, effective next Monday, leaves Braniff with only its u route remaining in the Pacific, an area which it moved into in 9 a expansion effort. It earlier 66.7 Japans portion Braniff Halts Orient Line Reuter News Agency LONDON The British Leyland auto group, like Detroit staking its future on the small car, Wednesday unveiled a new model in a desperate gamble to regain lost sales in an industry-wid- e recession. Some 100,000 jobs in the British car industry depend on the success of the car, named the Metro, the first model from the Austin-Morri- s factory in four years. 7:30 of oil percent to British Unveil New Minicar 1980 with Japans Praise of 81 U.S. Cars Sly Strategy 1978-197- OCT. 10, The BLM is trying to demon- strate its willingness to work right-of-wa- Dallas-Honolul- fftl. criti- Land runs. energy producers to get orderly development on public lands, he representatives Tuesday, be said. Utah has shown a 20 percent increase in drilling since last year, specific in the gripes. The Utah BLM director told the for instance. The bureau is also streamlining Independent Petroleum Association of the Mountain States that he its procedures to put more decicant do much about complaints sions into local jurisdiction, Mr. such as we have to get the free Wicks added. One of those areas is y enterprise system running again. permits, which will be Mr. Wicks said it would be more handled by district offices after helpful to address local situations Oet. 15. The BLM is still deep in its in his power to correct. n q Associated Press Cnart Have a Complaint? Be Specific v Recreation ph 74'57 801-?7- 8 Director LeRoy Dennis said the cost of connecting the new development with the existing park will be about $20,000, which would be split by the city 74 wmi 500 toutn OCursUhj). uON 84010 J golf fields, tennis courts and numerous picnic areas are planned for the expanded park. aroMta f I com- three soccer course, equity about taxes ni;hl turn: By giving yourselt time to read, to plan and implement your strategies, you could realize important benefits for this tax year and for many years to conic Ot course, you should always discuss all tax matters with your accountant and yout attorney. But won't it help to discuss them more Just one up from knowledgeably this free booklet could help you save thousands ot dollars in taxes Why not ca'I. or mail the coupon now tor your free booklet. V Au .Sin mg Ideas fur Mark City planner Bre.ichley told the mission a Fatty CoHataraltxad SNxl Trvn 6 to ?4 months Op to JO Simpt Intorost Pc Ymt tax-savi- Park in southwest Logan were explained to the Cache County Commis- sion Tuesday. . Available to Utah Residents Only by Prospectus and county. Earn $575.83 in 26wee!is. niom tmxx ft N7IAL 11.390 (Annual Rate) (Effective 10980 through 101580) 'Based on 1 10,000 minimum deposit Interest paid on certilicate only when held to maturity. Federal regulations prohibit compounding ot Interest and requira substantial penalty lor early withdrawal. "ESE-RAT- E for the latest TFS '5 115 MOUNTAIN STATES RESOURCES CORPORATION Thats based on this weeks rate: 8 J nCHAl oA.'M,S Savings Cert if 1 I I SHAREHOLDERS MoneyMarket cate I I THE OF 1I I I I I I NOTICE TO DIVIDEND REC0R0 DATE: NOVEMBER U, 1980 DIVIDEND ISSUANCE DATE: DECEMBER 15. 1980 IN Tut PREVIOUS ANNUAl pIVIC'MD MNY SHARE HOI Ot RS DID NOT Rt'.FIVf THE'R 0'VlUINO (HOUSE 'Ml STTX K WAS NOT HtIO IN TmiR NAMES AND THIY DIO NOT APRtAR ON STOCK TRANSTfR RfrnRDS AS O' 'MAT DATE. TO ASSORT THAT f ACM SMART HOt Of R RfCf'v'.S TMflR DIVIDING The T.OMRANY URGf S AU SMARIHOl OCRS TO TRAN'.Tf R ThUR Cf RTHiCATTS INTO THtIR OWN NAME IF THEY HAVE NOT Al READY X,NE SO I'RIOR TO NOVEMBER 10 lSHO MAT AT TH'S CHANGE HI AfCOMPUSMED NO COST THE SHARE HOI OE R BY SUBMITTING 'Ml CERTII ICATES TOR TRANSFER BY '6 CEHlEif D MAIL TO UNITED CAUE0RNIA BANK MoneyMarket Rate. P.0. BOX 54261 TERMINAL ANNEX LOS ANGELES. 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