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Show Sunday. September 2. 1979 The BailyMHerald Business News Firm Starts Two New Businesses in Provo Scoreboard, Inc., a Provofirm, is opening two new businesses in Provo, according to William D. Dunlavy of Orem, president They are Trafalga II, a family fun coephere after one already operated in Orem, and The Scoreboard, a restaurant. The fun center is open now, with the restaurant opening scheduled soon The fun center will be located at 263 North University Avenue on the second floor of a structure which will house the Scoreboard Restaurant on the ground floor of the same building. Address of the restaurant will be 275 North University. The restaurant will be primarily a sandwich and pizza shop, said Mr. Dunlavy, with live entertainment scheduled six nights a week and a sports theme throughout. A 10-foot screenwill televise all BYU sports that are telecast, plus other major sports events such as the world's series. The restaurant will award a ‘‘Playerof the Week" honor from each of the Utah County high schools and all major BYU sports. High school and BYUschedules will be posted on walls, along with professional sports. The fun centeris primarily geared to foosball, but will have video and pinball games and air hockey. The center will sponsor, through agreementwith BYU, the university foosball club. Credit Vital Today, But When, How, How Much? Washington, D.C. — Today most ple find it impossible to live without credit — the ability to get goods, serHashor money now,on the promise to in the future. . iding when, how, and how much credit to use can be ngthe many e Better it is defined by iaw and based on uniferm factors. Basically, there are two typesof consumer credit: installment sales credit and directloans. ‘Buy now,paylater’ agreements are made directly with retailers. Some stores offer ‘no interest" 30-day terms with interest a after the first 30 days. Other arrang ments require payments in install provisions of credit agree- ments during which interest is ments are understood before signing charged. are two “musts.” Credit costs money, and consumers buy on credit usually willpay more for a product or service thanif they pay . The added cost for credit buying, finance charge on a credit agreement, is the fee set by the seller or lender for the te a products or money. The , the interest rate, and the of timeit will take the consumer to pay are major factors in how muchthecredit willl t. The cost of credit must be stated clearly in writing along with all terms and conditions, andthis information Woolworth Gas and Oil Production is Vital Utah Industry a Utah's oil and gasfields are produc- is imported from Coloado and Wyoming at a rate of 2.2 million barrels ing. This is primarily a function of monthly, a slight decline trom last geographical distance from refineries year’s average of just over 2.3 million to oil fields. Mostof the oi! produced in barrels, notes Carlton Stowe, Utah Uintah and Duchesne counties moves Department of Natural Resources by pipeline to the refineries in Salt Utah produced 31,368.154 barreis last Lake City. However, other production year compared with 1977's 33,069,910 Moves east or west from sotheast barrels. In addition, 5,282,144 barrels of Utah. gas liquids and 3,633 barreisof oil from From a small refineryoperation that shale were produ ed last year. In 1977. processed seven barrels of crude oil 3,518,659 barrels of gas liquids and 1,653 per day in 1909 has grown a majorinbarrels of oil from shale were dustry of eight refieneries that have a produced capacity of more than 159.500 barrels Mr. Stowe points out that in the daily. Gasoline output totals more than state's 30 years of commercial produc- 63,000 barrels daily tion some 654,379,334 barrels of oil have Mr. Stowe further notes that the imbeen produced; about 45 percentof this portanceof Utah's oil and gas industry, - 293.5 million - has come from the especially to the economyofthestate, Greater Aneth oil field in southeastern is overwhelming. In 1978, oil production Utah. Utah's top four fields the was valued at more than $346 million Greater Aneth (south of Blanding); the (Copper, in second place - valued at Greater Red Wash ‘east of Vernal); $277 million). Marketed natural Bas and the Lisbon field (south of Moab), reached $33 million (Gold at $46 mi} account for nearly 85.8 percent of the lion). Producers paid $8,458,501 in mine oil produced. Ten Utahoil fields ac- occupation tax in 1978 and already this count for nearly 97 percent. The other year, mineral companies have paid three percent has been contributed by $9,370,283 in occupation taxes into the more than 120 small oil fields and state treasurey where the largest porproducing areas. tion - $6,551,967 has.come from oil and Northeastern Utah's Thrust Belt gas companies. region is the current focus of exploratory attention. The Pineview field ‘The petroleum industry also makes is fast becoming an important produc- up just over 2.4 percent of the work ing area. The fild has produced nearly force in Utah with 12,080 people 11.5 million barrels of oil and is cur- employed in exploration, production, rently producing just under 400,000 bar- refining, pipelines and in marketing. rels monthly. Total wages are estimated at $136 milUtah’s natural gas production in 1978 lion annually. was 78,660,655,000 cubic feet. For comOil and gas drilling to the end of parison, 1977 natural gas production ome this year has accounted for 161 was 80,790,745,000 cubic feet. Gas wells w ls drilled. At this same timelast in Utah at present average about7 bil- year, 138 wells weredrilled. Mr. Stowe lion cubic feet each month. Cumulative Says that forecasts call for about 275 records show 1.7 trillion cubic feet of wells to be drilled and completed in gas has been produced from gas wells Utah for 1979, about equal to that of in Utah. 1977. Last year, 258 wells were driiled Mostof Utah's crude oil production in Utah. Rotary drill rigs active in the moves out of the state to Southern state now number 29, an increase of California. Approximately 80 percent three rotaries working since last of the crudeoil used in Utahrefineries ‘month. 4 3= re Re = =— GERALDL. DAVIS Honor Awarded Quarterly Profits Up NEWYORK — The F. W. Woclworth Co. reported todaythat 1979 second quarter net income,including its 52.7 percent equity in the earnings of F. W Woolworth and Col, Limited, Great Britain, rose 40 percentto $20.98 million, or 69 cents per share. This compares with $15.01 million, or 48 cents per share (restated) in the sameperiod of 1978. The company's second quarter ended July 31 “Improvements in both consolidated companies and our unconsolidated British subsidiary contributed to the profit increases,” siad Edward F Gibbons, chairman and chief executive officer Firsthalf net income was$29.76 million, or 96 cents per share, compared with $25.87 million, or 82 cents per share in 1978. This represents a 15 percentinOREM — Gerald L. crease in net income In the second quarter currency translation losses Davis of Orem, represenwith 12 cents a mpal tative of Gabriel Sales amounted to 8 cents a share compared Division of the Maremont sharein 1978. In the first half the net effectof ail cur- Salesman Corporation, recently rency losses amounted to 16 cents per share versus 2 was one of 20 individuals cents per share in the first half of 1978. Consolidated sales for the 1979 second quarter were nationwide to be named to the firm's Council of $1.59 billion, compared with $1.42 Dillion ii n the 1978 period, a 12 percent increase. Professionals for 1979 f § & eeeeee Page 18—THE HERALD. Provo. Utah Office chairs For the discerning executive kimBall PRESIDENT 900 mentis signed. It is up to the consumer, however, to make sure he or she receives this information and understands it before making a commit- ASK ABOUT OUR SPECIAL PRICES The prestige desk that indicates your success Medel 92 ment. It is also the consumer's responain oH for crea paretully By comparing annual percentage rate (the finance charge reeras a percent) consumers canget a good idea of how one lender’s or seller's credit costs wee with another's. The Truth In : ing Act permits ast comparison of percentage rates since all lenders must disclose this rate, and teineereet Utah Reynolds Briefs | Recovers SALT LAKE CITY (UPI) — Fifth Circuit Elegant Wood Office Furniture in the Traditional Style Medel 94 Aluminum Court Judge Raymond RICHMOND, VA. — Uno has Mantancns Studio Theater cashier Beroeuds Metals Com"s Recycling and Lynette Johnson to seven ition Divison has fig in jail and fined her $110 on her pornography announced it will build a multi-million dollar conviction. But Uno stayed the to separate aluminum sentence for 30 days to and brad nonferrous give Ms. Johnsoo's at: metals from auto shredvee timeto file an ap- der reales It will be Excellence in design with the dignity of Maditicna styling in selected wainut veneers President 900 is a recognition of aenieienent in business or profession. Madewith the same careful attention to details of construction and finish that has made Kimball pianos and organs famous. 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