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Show ISiness “UTAH COALMINE COALMINE LAWSU LAWSUIT Page C-10 ‘523.65 $386.50 +$0.80 30 INDUSTRIALS -4.94 2871.87 -5.45 3 | Letter Tells Greenspan $1.3370 +0.25¢ By John D. McClain THE ASSOCIATED PRESS WASHINGTON — The senior Democrat on the congressional Joint Economic Committee asserted Friday that unless the Federal Reserve lowersinterestrates, the nation’s economy faces an imminent recession. “The warningsigns of an economic crash are everywhere,” Rep. Pete Stark of California said ina letter to Fed Chairman Alan Gr noting a ing job market, slack factory orders, shrinking retail sales and falling homesales. “Unless it takes strong action soon, the Federal Reserve will have engineered the first recession in memory with no prior in- nies. = If shareholders approve, the mergeris expectedto be final qune 30. = Data Broadcasting provides peal-time sports and financial inBRIEFLY... formation via wireless, cable and satellite transmission networks. ASCOofSalt Lake City has Broadcast International offers won the Outstanding Distribubusiness data and communication tor Performance Award for services. 1994 from American Crane Corp. ASCO provides crane andrigging services. The Utah SupremeCourt hassettled a long-running legal dispute over a request by UtahSign,Inc. to put an outdoor advertising sign at 2995 S. Davis Drive in South Oo Salt Lake. The decision only resolves which court had jurisdiction over the company’s appeal. The companysaid Friday it plans to file a new appeal in the correct court. Utah Sign first asked for a permit to erect the sign in May 1992. The Utah Department of Transportation denied the request. After an administrative hearing, a hearingofficer also rejected the plan, ruling the proposed location was not a lawful advertising site under Utah law. The Utah Outdoor Advertising Act regulates wheresigns can be placed,including restrictions on highwaysites. Utah Sign filed an appealin 3rdDistrict Zions First National Bank, headquartered in Salt Lake City, plans to offer its customers an electronic bill-payment service. Clients can use it to pay monthly bills overthe telephone. a OLDE Discount Brokers has moved its Salt Lake City offices to 1153 B. 3900 South. The company, based in Detroit, has 200 offices nationwide. Oo ByPhil Mueller tH ooaun 4 9 nS ae ng sh othe bth ae sg HRY 8A, he di vis | iiGas AuloDia 07 r2 an itSky Amaze 8 8i alonPr ayi 8 Arseas mans 0.8 Bdway 2.00 8494 0.30. 6850 19% +4 —~¥ ! 0.4 ¢x bayln owniea Hi eye TO tOE isk 4% +¥4 [BCE g 272 8740 31 RR lee Bs oe Sat OeseaBLO Z0Ke tu —% P|BNCsPru 16le0.08 2795 Abertsn 1149 16 Rated 0.53e 3282 17% High-low range money. fv> New issue in te past 52 weeks notcover the entire 7 94 ein |"a2 S761 AmWest AAA) 960300 1247 B34 . oO 98 AAG) * v 33,, 2{1% "| AMEE ODES - i Trading hated onthe primary mana stock dividend. Special payments not designated as regular ‘areidentted inthe following footnotes fa-Aiso eta or extra. B Annual rate plusstock dividend. 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According to Rob- OVER FIELDS OF 2 Botte83 “| BdwayStr O08 Bes “aie <4 +% 0.60 5730 45% pS a0 4188 $1 Ain AirProd 1.04f11952 51 4 Nam i A 1030 DulBro ro pik 1.56. Dogk Qe 842 o-"-a-o° ers when, like most of Benton’s companies, it sD 108 9985 40% —2 +%s BritSil 0.68e 1986 24 ‘hn pfCZ.10 2644 254 ‘AirFrt BrillChA 008 2045 6% —1% —%| AURC9T 022310995 25 dling and the world market price has been drifting upward, making the element an attractive investment. The Swissutilities that have been long-term partners with Energy Fuels depend on uranium to fuel nuclear powerplants. Energy Fuels President Harold Roberts said while the companywasnotinvolvedin the bankruptcyfilings, it had to furlough 65 work- erts, the loanswill be paid back by cash flow from the mill. The loan agreement was approved Thursday afternoon by Benton's creditors and U.S. Bankruptcy Court in Denver. “Weare calling some people back to work as early as next Tuesday,” said Roberts. “Within the next two to three weeks, we will be calling almost everybody back to work. We're shootingfor Aug.1 to start the mill up.” Company planners are working on a longrange plan to mine and purchase more ore from mines in Coloradoto keep the mill operating on a regularbasis wn ma) DILBERT waoe ra oe wo me eG eee meee G Deion ter aestig2)34h AMM 2,13 Aenpsu Aeintt 27618847 59, ~Se S| they predicted 1994 would be robust for sales-tax C40 @ Lawsuit involves Utah coal mine BLANDING — An‘infusion of about $16 million in loans from three Swissutilities will allow a uranium mill south of Blandingto resume production and put 92 people back to work. Energy Fuels Nuclear Corp. of Denver, the operators of the White Mesa mill, made the announcement Thursday. The firm is one of many holdings of Denver buisnessman Oren Benton, who declared bankruptcy Feb. 23. World uranium stockpiles have been dwin- Utah Power's bid to sell electricity to Utah State University is $90,000 less than Logan’s bid. An incorrect number was reported in The Salt Lake Tribuneon Friday. 4 By Judy Fahys THE SALT LAKE TRIBUNE Utah tax-revenue forecasters guessed right when revenues, according to a year-end summary from the Utah Tax Commission. Fueled by stronger than expected sales in the retail and service sectors, sales of taxable goods increased by 11.3% overall — 2.2% greater than the commission had forecast for the year. Onestandout: Business investment was lower than forecasters expected, 13.3% rather than the 15.4% the Tax Commission had projected. the economic expansion was moderating KeyCorp economist Jeff Thredgold said the disthough the extentof the slowdown... and crepancy could be a sign Utah businesses found a its effects on inflationary pressures were scarcity of key resources such as land, buildings and not yet clear,” the minutes showed. skilled workers as they tried to expand. “Tt has been almost impossible to find room to grow,” he noted. “But 13-plus percent is still outstanding.” Douglas A. MacDonald, director of the tax commission's economic andstatistical unit, noted Utah growth for 1995 is running ahead ofprojections. In 1994, tneretail-trade sector performedbetter Court, based on the advertising act. UDOT than estimates and better than the U.S. average, the movedto dismiss the case, arguing that unTax Commissionsaid. Actual growth was 10%, while der the Utah Administrative Procedures 8.3% wasforecast. Act, an appealofa final agency action beThe service sector also performedbetter than anlongsin the Supreme Court or the Court of ticipated. Year-end results showed taxable sales Appeals. grew 13.5%, compared with 8.7% projected and Third District Judge AnneStirba agreed 5.6% nationally. with UDOT and foundshehad nojurisdicSalesin the finance, real estate and insurance section over the case. She dismissed the lawtor grew 50.6% for the year. Private vehicles sales suit, and Utah Sign appealed to the Utah jumped by 26.8%, and amusement and recreation Supreme Court. increased by 24.4%. In an opinion released Friday, the high Meanwhile,sales in agriculture, forestry andfishcourt ruled the advertising act governs ing declined the greatest, down 18.7% from 1993. only thelegality of existing signs, for examHealth services sales declined 1.4%. ple, providing sanctions for owners whose Piute County experienced the largest growth in signsfall into disrepair. Utah Sign’s appeal was governed by the taxable sales (54.1%). San Juan (up 22.2%), Iron (17.8%), Morgan (17.2%) and Washington (16.87%) administrative procedures act and should followed. Rich County saw a declinein sales (577%), have beenfiled in an appeals court, not the as did Daggett (24.2%) and Garfield (1.2%). district court, the justices ruled. SPECIAL TO THE TRIBUNE CORRECTIONS & CLARIFICATIONS AFProv n0,85¢ 1415 274 +: Revenuesin Utah Loans Enable Blanding Uranium Mill to Recall Workers American International Freight of Terre Haute, Ind., is nowserving the Salt Lake City International Airport. The company serves 31 U.S. markets byair. Albertson’s Food Stores and First Security Bank of Utah have signed an agreementthat will put full-service banking offices in 19 Albertson’s stores in Utah. The movewill create one of the largest in-store branch bank networks in thestate. “Banking will be more convenient,” said First Security chairman Scott Nelson, “in large measure because of the strategic locations of Albertson's supermarkets and our extended banking hours Monday through Sun- Pump Up Tax Utah Sign Company Plans Court Appeal Now ThatIt Knows Whereto File It Qo Royal Oak Resources Inc. of Ogden plans to acquire a forest-products company headquartered in Linden, Tenn. Royal Oak wants to buy Graham-Hardison Hardwood Inc. in a stock trade. First Security to Put Banks in Albertson’s Stark wrote. The central bank’s policy-making Federal Open Market Committee (FOMC) met Tuesday to discuss monetary policy, but announced without explanation it had voted to leave short-term interest rates unchanged. During a 12-month period that ended last Feb. 1, the FOMC engineered seven rate hikes that boosted short-term rates to 6 percent, double the rate that existed whenit began tightening credit to slow the economyand curbprice pressures. But according to the minutesreleased on Friday, the FOMC put any further increases on hold during its March 28 meeting, voting 11-0 to await further evidence of the economy’s direction. “The members agreed that the pace of Crash Are Everywhere’ = Stockholders of New York-based Data Broadcasting Corp. and Salt Lake City-based Broadcast International Inc. have slated a June 28 meeting to vote on a mergerof the two compa- Room rents jumped 11.2% in Utah last year, indicating a boisterous year for tourism growth, according to a new report by the Utah State Tax Commission. Rich County saw the biggest gain, with a 53.3% hike in room rents. Garfield grew by 33.2%, Davis by 30.2%, Cache by 26%, and Emery by 24.2%. Fourcounties showed declining room rents: Beaver, -4.8%; Duchesne, -14.3%; Millard, -10.4%; and Washington,-8%. The counties with the largest taxable room rents were: Salt Lake ($119.2 million), Summit ($56.2 million), Washington ($25 million), Utah ($18.6 million), and Grand ($17.5 million). Page C-8 crease in inflation to use as justification,” ‘Signs of an Economic Stockholders to Vote on Merger Tourism Boom Hikes Room Rents 11.2% MUTUAL Demo to Fed: Lower Rates Robust 94 Sales SEATTNTS f I PAGE C-7 The Salt Lake Tribune SATURDAY, May 27, 1995 aut ret) Sn wren ante » RG a we bie ee BiHk Hie 4 tooute a8 bap AE 38+9 eto ¢ a £88(ile GORE tat 1 ; . M |
