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Show rs 7i ditin r&rms to nwiia Wyoming Homes Hanover Ltd., Salt Lake City, and Intermountain Pipe and Welding Co., Linden, Utah County, have launched a joint venture to develop and build a major residential end commercial project In Green River, Wyo. ralt akc ?rilmnr "Business Mines Markets Finance Supday, September Section B 19, 1(576 Hanover Ltd., is s partnership of Brooke Grant, John Gaskill and Dennis Lawrence, Salt Lake City . Organized four years ago, it has been acquiring land for joint venture development m energy impacted areas. Mr. Grant is chairman of Intermoun-tain- , which win develop the Green River property. Multiple Units Mr. Gaskill said the development will consist of 116 single family and 62 multiple dwelling units. They are being built with the cooperation of Green River and Sweetwater County to accommodate the permanent serv ice force brought in by expansion of the areas trona Industry, he said. Green Rivers population has grown from 5,000 to 11,000 in six years, he noted. Many of the new arrivals are yet residing in trailers and apartments for lack of housing. The units are being built on 37 acres of land acquired from the Union Pacific Corp. About 10 acres is being reserved for commercial development. Take Page 1 1 c I oieei imports Dip, Then Rise Again T. The United NEW YORK (AP) States imported 1.5 percent less steel in the first seven months of this year than it did in that period last year, the American Institute for Imported Steel reported this past week. Years 2 The project will take about two years to complete, Mr. Gaskill said, and will have a mature value of about $7.5 million. will ho huilt in 24foot, by modules at Boise Cascade and Interstate Homes plants in Salt Lake and in Pocatello, Idaho, then to site. jho houses 50-fo- The houses, ranging from two- - to units with one to two bathrooms, will be sited on lots with depth, he frontage and said. m 90-fo-ot 55-io- Most will be have basements. Prices will range from $29,500 to $40,000. A survey of potential buyers, he said, indicates that they are in their 20s and 30s have joint incomes in excess of $20,000 yearly and have more vehicles e.g., cars, snowmobiles, than children. drives, motorboats four-whe- But that downward trend began to turn around in July, when steel imports were 48 percent higher than they were in July last year, the institute said. 4 An institute spokesman linked U.S. steel demand to the economic recovery, which is now considered to be going through a pause. Although the auto industry has experienced high demand, the steel plate it uses represents only one segment of all steel production. Demand for other manufactured goods requiring steel has been low, he said. Bank Financing Interim finance is being provided by First Security Bank of Rock Springs. Mr. Gaskill added that the Wyoming Community Housing Authority is expected to complete a $30 million bond issue by year's end to provide finance for home buyers in energy impacted areas. Tenatively, mortgage loans would be made at five percent down and with an annual interest rate of about 8.5 percent. The developers have started struction of four model homes. Tribune Business Editor Two years ago, with inflation raging and food prices skyrocketing, the consumers were crying for blood. Among those whose blood they wanted was that of the sugar com- ponies. in 1975. - I v ' i z '' ' Sugar industry spokesmen said that sooner or later market forces would come into play. Those who had grown sugar beets in 1974 would grow more in 1S5. Those who had grown grain In 19(4 would put more in sugar beet acreage - - 1 For sugar prices were faster going up than most. In a sweaty encounter with the press in Salt Lake City, U. and I. Inc., President Rowland M. Cannon tried to explain what had happened. Affluence had begun to reach all of the worlds developed and developing nations at the same time. Everybody was buying simultaneously from a finite world supply. On Nov. 22, 1974, cane sugar was selling in the Northeast at a record base price (before delivery) of $71.95 for a sack. Protection From Speculators On Nov. 21, 1974, U. and I. was selling its sugar at $59.60 for a sack. U. and I., Mrs. Cannon said, had been compelled to join the price rise to keep its sugar from being looted by speculators. It w'as not a pleasant time to be president of a sugar company. d More sugar would inevitably mean lower prices. And, indeed, the prophecies came to pass. This week the sugar industry was not looking trouble in the face because of lower prices, but because of drastically lower prices. Price Plummets Thursday U. and 1. was selling a hundred pound sack at a base price of And Mr. Cannon noted along with an announcement of a dividend declaration, that if the pnee depression continues, earnings could be hurt. In Florida, Nelson Fairbanks Jr., vice president and general manager of the Florida Sugar Cane League, said the industry is in for a lot of belt tightening. The high 1974 prices resulted in increased acreage devoted to sugar production in the United States and abroad. Production also was heightened by good growing weather last year in the Caribbean, Europe and Asia. And Mr. Fairbanks said about seven million more tons of sugar are available to the U.S. sugar market this year than two years ago. Thats about three million more than needed to fill con sumptive needs In this country. Because of the carry-ove- r effect of the high 1974 prices, U. and I. earned a record $3,740,896 for the fiscal year ended last Feb. 28. And in fiscal 1976, it earned a w'hopping $10,675,022 as an aftermath of the frantic sugar market of the preceding year This Year: Impairment As for the earnings this year, the company declined to speculate other than to talk about the possibility of earnings impairment. The reason : Anything the weather, for example could change the outlook. A perfectly beautiful beet crop in 1972, for example, devastated by a cruel and prolonged December freeze. U. and I. contract acreage is down about eight or nine percent this year from the previous year. The crop appears fairly average. Assuming conditions continue about the same as last year, sugar production would be off about the same percentage, a spokesman said. In the meantime, the industry is calling once again for some kind of protection from the vagaries of world prices. Quota Act Lapses Sucli protection had been provided in the form of quotas under the Sugar Beet Act which, after 37 years, was not renewed by Congress in 1974. Quotas assigned a cut of the market to various foreign producers. They could be raised or lowered to maintain domestic price stability. gBBaHWmUHBg Sherwood & Roberts GIHESAL KSLHH3 SYSTEMS me. SOUTH MAIN, SAIT LAKE CITY THEY ARE APE PLEASED TO ANNOUNCE NOW THE FRANCHISED DEALER FOR STAR building systems and mesco metal buildings throughout the intermountain west. .1 1 South 600 East, Suite 210, (801) Salt Lake Cty, Utah 84102 Service SnSR BUELDrKiStSTEmS Our business is building yours. GIVE US A CALL 262-266- 4 521-955- & Rehabitfy ynce 1932 . 24 in- Manti mobile service will now include Fridays. And Nephi customers will be given an extra day of service on Mondays, in conjunction with the opening of the Richfield office, which frees the mobile unit for other use. iiMM Oacali classic clotlmuj UH Ijaliniiasiicn) T axs. y 'UTAH IDAHO FCVADA WASHINGTON OREGON t "that great Men1 SAKRETE LIME - PLASTER 5hop at J07 South Mam" Sand Gravel SACKS AND SMALL LOTS S A 10 LB. BUY & SAVE AT KETCHUM'S OGDEN SALE LAKE lake roc 01 Vt HUS V0UM PAYCHECK BIG ENOUGH? DO YOU HAVE A JOB? of IMC mm usco slw HOTS RfH f MCTHf H SHORT! BAUMttt OCR emtACA DMVf 972-176- 40 Sttcuusrs IMFtOINCY 2t.i623 5 (V. lit. hart. Uttlafc rAUCTION taxes and government control are driving industry to foreign lands! This creates a loss of good paying jobs for Americans. Vote for a man who wi work to reduce "Big Gov ernment" ond its controls Put AMERICA first. Vote High SALE- BM'KwmTrv COURT ORDER Cafe Equip., Fixtures, Supplies. KEELEYS CAFE Sunday. Sept. 26th Open at 1 00 Sale at 1 30 P M no reserves Absolute sale Call tor handbill bv Co. nm To Elect Batchelor, Ido Batchelor, Hif, HAWAII .. aafet:AiJ AUTO A'ARKTT r You CALIFORNIA r irlniiwkH umiay i jSh m m mCa 4 r 486-304- 5 i Of ices to Serve m Magnetic Show Card Silk Screening Paper Sinner CEMENTS Pd Pol 7 t Prudential has Utah offices, cluding mobile facilities in Manti and Nephi F J 1876. 14 Commercial Mortgage Loan;, mancing Fteal L'jtate Insurance Imobtments . -- -- Residential Subdivision Sacramento, California Sherwood & Roberts inc 323 Completion is set for December, VOTE GEORGE BATCHELOR FOR U.S. SENATE Sunrise Knolls A Special to The Tribune Construction has RICHFIELD begun here on a $100,000, permanent facility for Prudential Federal Savings and Loan Assn. The structure, at 255 S. Mam, will replace a temporary facility. General contractor is Valley Builders, Gunnison. John N. Clawson & Associates, Salt Lake City, was the architect. a a S.L.C., Ut. Land Development Loan For in Prudential Savings Building Under Way at Richfield Site 160 So. Main St., $600,000 100-l- ot hundred pounds. "Underdeveloped nations get their sugar in without the tariffs. . and Rep Robert Rergland, 11 other congressmen have submitted a bill, II R. 15485, that would provide a v ariable tariff according to world price. If the world price drops below a certain "fair" floor price for U.S. sugar, then importers would pay into the U S Treasury the difference between the foreign price and U S. floor price. None of the money paid into Treasury would be paid to domestic producers. Hence, the industry would be off the hook as far as any charges of "subsidization" were concerned. a AMERICAN! Announces A Intent, according to supporters, in addition to providing consumers with reasonable prices, was to promote foreign trade without killing off the domestic industry. Now threatened, the U.S. industry summons up the spectre of increased foreign dominance in the U S. market and the possibility of OPEC-styl- e sugar cartel. Western congressmen, including Sen. Frank E. Moss, have asked President Ford to to use current executive tariff and quota authority. Tariff Mighty Law Quotas are merely pro forma now, says an industry spokesman. And the tariff on import sugar is only 62 5 cents $13.70. SBBMHSSag! T.p- e Pendulum Swings Sack on Sugar swstpnnnee to West-- 1 ers are worried as world sugar shortage of two Rolling nrfnlrler em sugarheets. However, growers and produc- - j years ago has now turned into a world surplus. Star build ng changes with the times When your business expands, your Star building expands with it easily and economically When production methods change, your Star building can be adapted to the new methods, simply and swiftly Build a building with a future Call your professional Star builder for complete information tain Pipe and Welding, Linden, are joint developers for the Wyoming project. Up & Down the Street By Robert H. Woody Design intent was to provide housing at the lowest possible cost, he said. three-bedroo- Artists rendering shows different styles commercial project in Green Itiver, Wyo. of housing planned for new residential and Hanover Ltd., Salt Lake City, Intermoun - |
