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Show Up and Down llu Street Salt iu I; f Sri hum' Union Pacific, Utah Keep Rolliiv With Profitable, Historic Ties Its operating headquarters are in Omaha, where start of construction on the transcontinental railroad began in 1365 after UP was chartered by act of Congress. Its corporate headquarters is in New York. However, after the bankrupt railroad was purchased at auction in 1897 by a combine headed by Edward Henry Harriman, it was incorporated in Utah. It remains a Utah corporation to this date. Meetings in S.L. Further, annual meetings of the railroad and the successor holding company have long been held on the second Tuesday of May at the Hotel Utah. We're a great big rolling railroad. One that everybody knows. We were bom of gold and silver spikes a hundred years ago. Were a thousand wheels of freight train. Hear the diesel's power. Were the Union Pacific doing 90 miles an hour. From the green fields of the prairies to the blue Pacific shore. We deliver your great cargo and come rolling home for more. Cross the flats to Salt Lake City on to Vegas and L.A. We re the Union Pacific and we've got the right of way. By Robert H. Woody Tribune Business Editor A lot of macho in those lyrics. No matter. The great big rolling railroad ended 1977 with record earnings and revenues. Net income of $221.9 million was up 18 percent on a revenue gain of 24 percent to more than $2.5 billion. The figures are in the annual report of Mr. Woody Union Pacific Corp., a holding company since 1969, whose principal property is the Union Pacific Railroad. The fates of the railroad and Utah have been intertwined since 1869 when U.P. and he Central (now Western) Pacific linked at Promontory Summit. Salt Lake City is a development U.P. sulisidiary Upland Industry. the Ii.. , -- ' jt. y Jr) V just-issue- d Namely: They note that an estimated 600 trillion cubic feet of natural gas is locked into tight sandstone formations of Utah, Colorado and Wyoming will not be liberated until realistic prices prevail through deregulation of new natural gas. Phase Out Price Controls They urged a phasing out of oil price controls to encourage more intensive domestic exploration as well as expand development of known petroleum resources. They ask for conciliation in place of confrontation by industry, government and environmental groups on air, water and land use so that the nation can cut its dependence on foreign oil. anywhere else, says chairman James Its traditional. Nor has there been any inclination to change the state of incorporation. About 3,000 of Union Pacifics 29,000 employees are residents of Utah. Some 1,700 are residents of the Salt Lake II. Evans. area. Major Presence The corporation has a major presence not only in terms of rails and railroad equipment, but also in a diesel locomotive heavy repair shop, a car repair shop, its South Central and Utah Division headquarters, a communications and computer center, a training center, and switching yards at Salt Lake City, Ogden and Provo. The Centennial Industrial Park They ask for the speeding up of environmental reviews and issue of leases and mining permits by the government to allow careful development of the large reserves of western coal. Receives Land Union Pacific, like other railroads during the 1860s, got a checkerboard of public land sections at the rate of 10 sections for every mile of track it built. Union Pacifics original territory in the wild and undeveloped West is now proving to low-sulf- . As a condition of receiving the sections, however, it was required to maintain comparatively low freight and passenger tariifs, says a U.P. spokesman. The reduced schedules prevailed through the end of World War II. And a former Interstate Commerce Commission chairman, the spokesman says, returned to the nation more than $900 million in form of reduced rates in exchange for land valued at about $126 million at the time of giving. Paper to Counter Press One-Side- d A civil MANILA, Philippines (AP) rights group began publication of a new newspaper Saturday, saying it would counter what it called reporting in the Philippine news media. editorial said the paper A front-pag- e was not aligned with either side in the countrys first National Assembly elections in five years of martial law, scheduled for April 7. But the articles in the first edition clearly showed the paper would be an outlet for opposition to President Fredinand E. Marcos administration. There military-backe- d is no official censorship in the Philippines, but the press generally is careful not to offend the administration. one-sid- years and raised 11 children there. She mostly knits now. 55 Tribune Staff Writer of hard to get to Caputos kind Its Grocery Store any more. The freeway was built near the store several years ago and it divided the old neighborhood in two. Once you find the store, at 730 W. 400 North, youre not really that impressed by its exterior. Its kept up nicely. The wood building looks as if it has a fresh coat of white paint. It looks like many other well-kebuildings in one of Salt Lake Citys older neighborhoods. pt What you is the small, dont see from the outside flat above three-bedroo- 1 15-3- 484-278942-317- Ross Caputo, the patriarch, died eight years ago. He and his wife ran the neighborhood store since 1922. Two daughters, Rose and Hazel, have actually operated the store for the last several years, but Cristina is the official owner. Not Much Profit The grocery store is too small to reap much of a profit, although Hazel says she makes a profit on everything she sells and the store brings in enough money to pay for itself. Lease a new We have a limited amount of retail and office space left in Carillon Square Phase II, at the hub of Utah County business activity. Office building to be Some retail space completed about May available immediately: some available in May and June. Let us show you what we have. Phone Salt Lake . . . Landvatter Bill Fawcett where four of her 1 1 children were bom. She spends most of her time knitting sweaters, which she gives away. the tiny grocery store in which Ross and Cristina Caputo raised 11 children. You dont see the little room in the back of the store, where many of the Caputo children, now in their 40s, 50s and 60s, gather to chat about old times, fix themselves salami and pepperoni sandwiches and enjoy a few swigs of beer. And you dont see Cristina Caputo, matriarch of this the Italian-bor- n family, which still follows the old country tradition of remaining close to one another. Mrs. Caputo remains in the upstairs Thinking of Locating in Utah County? A1 flat where she has lived for 55 years and m By Kristin Goff Associated Press Writer Even while the United NEW YORK members Mine Workers were assessing the proposed contract for this weekends ratification votes, early reviews from economists were beginning to surface on just what the e impact might be. pacts The proposed contract offered generally higher wage and benefits than other recent major labor settlements, but economists say that exact comparisons are difficult because of the differences in fringe benefits. rank-and-fi- le long-rang- Top Old Package Its maximum wage and benefits of $2.50 per hour over the life top the $2.35 contracts three-yea- r package the United Steelworkers agreed to last year. First-yea- r provisions for both industries were considerably higher than the nationwide median of 45 cents an hour for all types of industries in 1977. The UMW contract calls for a $1 wage increase in the first year. Last Mays United Steelworkers contract provided boost for the first year. a Because the coal industry is depended upon by utilities and other industries, the increased costs may g nt variety of ways. Econom ists say electric utility rates may rise because of the expected increase in the cost of coal, but there likely will be some absorption of higher coal costs that wont be directly passed on. Joel Price, an economist at Dean Witter Reynolds Inc., estimates that the proposed contract will increase labor costs 8 percent to 10 percent in the first year and 15 percent to 20 percent life. over its three-yeExpects Cost Rise In turn, he expects the cost of a ton of the type of coal most often burned by utilities to rise between $1.25 and $2.60 a ton because of the higher labor costs and inflations effect. It was selling at about $22 a ton prior to the strike. h Any time you have costs that are higher than productivity, it will have an inflationary effect, says Price, who adds that productivity has been a major coal industry problem in recent years. an economist at Richard Scott-RaChemical Bank, expects coal prices to rise $2 to $4 a ton and maybe more. Other Development In other business developments in the news this week: It was disclosed that the nations show up in a ar pass-throug- The main feature of the store is the fact that it still sells Denny candy, like cinnamon bears, malt balls and the like although some of the candy has been raised to two cents because of inflation. Hazel and Rose say the store doesnt do much business in the way of groceries. Most people do their grocery shopping at the larger chain grocery stores scattered throughout the west-sid- e 4 $ i The January deficit was the largest since a record of $3.6 billion deficit in October, and it followed deficits of $2.4 billion in November and $2.1 billion in December. The Labor Department reported Monday that prices consumers pay spurted a seasonally adjusted 8.4 percent in January while their purchasing power declined at a record rate. The traditional consumer price index, which the department will eliminate at mid year, rose an adjusted 0.7 percent in the month, equal to an 8.4 percent annual rate. The increase followed gains of an adjusted 0.4 percent, or 4.8 percent at an annual rate, in November and December. The Commerce Department announced that the index of leading indicators, a key barometer of future economic trends, plunged 1.9 percent in January, its biggest decline in three years. The embattled U.S. dollar continued to suffer declines against most other major world currencies in foreign exchange. like an active lifestyle, youll love If you W Springtree. area. six-pac- Choice r5995'SOmHFSi 225 00 Lake newes growing .markets unBDTEiiEr 48 MONTH OPEN END LEASE o 05M3 Long or Short Runs Our new condominium community of Springtree offers the recreational activities you've come to expect from Prowswood. Play paddle tennis, year round, on two lighted courts. Choose billiards or cards in your own social center. Or, when Spring arrives, sw im and relax by your own pool. . Springtree is active, when you want to be active all . ... Classic and authentic architectural design houses i total ol 145.137 square leet of profitable space now available. 3 to 5 day delivery on aluminum plates in most cases. Design raised or sunk. Call r . . . Steve Argvle LEASE MANAGER BOUNTIFUL MOTOR LARSON STAMP DIVISION 2284 South West Temple 2773 So. Main 292-720- 1 BOUNTIFUL, UTAH 1 -- - - . peaceful, when you want to relax. Visit our Sales Informaor. next week for sure. We have only tion Office today 'a limited number of condominiums remaining in our 8.5 acre wooded estate. two-bedroo- Aluminum 1 reported-Friday- But if someone needs one loaf of of bread, or a quart of milk, a k beer, a pack of cigarettes, its easier to run into Caputos because of the store's smallness and speed of service. That type of customer makes up See Page F-- Column 1 Stainless Steel Salt Lake City 84115 Phone: 486 201 Department 978 Brass obligation con ui Italian Commerce mmmm MARK V No trade deficit for January was $2.4 billion, continuing at a rate that led to a record $26.8 billion deficit last year, the CONTINENTAL 0 r etched name plates be a rich trove of business and resources, Corporation reported 1977 as another record. Miners Pact to Have Economy Impact Caputo Store Mirrors the Golden Neighborhood Era By Paul Roily I Week in Business cost-of-livi- I , s. W Sunday Morning, March $. i7g The subsidiary Rocky Mountain. Energy Coal Co. is into uranium mining and nulling in Wyoming, trona development m Wyoming and coal in Utah, Wyoming and Colorado. The U.P. stake in the West is apparent in the corporation's annual report. Chairman Evans, and William S. Cook, president, and Eldridge T. Gerry preface the usual optimistic outlook for the year and the future with strong admonitions. We wouldn't think of holding it Cristina C iputo, 89, has lived in apartment above store for - A MarkelsV inaiiee Mines Oil Drilling The subsidiary Champlin Petroleum Co. has been drilling or participating in the drilling of oil and gas wells throughout Utah, southwestern Wyoming and western Colorado. And so, there it will again be held on May 9 at noon. just-issue- d of Business A :S Individual store locations range Irom 300 to 30.000 squart feet with hmshed interiors. Paved parking for 800 cars, accentuated with appropriate landscaping. Easy icess provided tor both North and Southbound traffic. SPRINGTREE Sales Information Office open daily. 0 a.m. 'til 7 p.m. 6 5 East 5t00 South Telephone 26 3226 oCdetailsTand JermsYfcontac 38im ms & uMiB gaiaai t Oll 0 years N si-- ( ( )UMl N! 'i ta "MO of protection W5Z.' |
