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Show f' 'irtr ir' V V'V r y- vy - y- t f' yr'frHrry' hhhm Wexpro Rehearing Order Stayed So MFS Can Seek New Appeal Paul Roll Tribune Staff Writer In a procedural move Thursday, the Utah Supreme Court stayed the execution of its Wednesday order denying Mountain Fuel Supply Co.'s petition for rehearing in the Wexpro ease. The court is not changing its mind It will still not rehear th Wexpro matter, but it will not send the record back to the Utah Public Service Commission for further review until Mountain Fuel has had a Bui assistant Utah attorney general Janies L. Barker Jr., represent mg the Committee for Consumer chalice to see if the U S. Supremo Court will hear the case The effec t of the stay is significant because pending Indore the emnniis sum is a $1H.3 million rate increase that has agreed to by stipulation between the Dnision of Public Utilities and Mountain Fuel Bv Services, and Bruce Plenk, attorney for the Coalition of Senior Citizens. to the stipulation in Thursday's hearing. Mr. Barker and Mr. Plenk both cross- - examined Mountain Fuel's Parties Approve president of the utility division. John Crawford Jr., about Mountain Fuel s current financial status. Mr. Crawford testified that in June the company paid quarterly Most of the parties in Mountain Fuel's current rate case, in which the utility originally asked lor $23.4 million, have stated their approval to the tipulalion Mr Barker said after the hearing that if the Supieme Court had not Bill Pages. dire tor ot 1't.ui Issues Intor 'nation Sol v u e. teamed to the stayed its order, giving Mountain Fuel a chance to appeal with the highest court in the land, he would have argued that the Wexpro deer sion should be applied to the current ease. Such an arrangement would change the situation considerable beeau.se the revenues fn.ni oil to Wexpro would need to to Mountain Fuel s revenue statements and would reduce the revenue requirement from the rat epa vers Mr. Barker said that in light ol that, the company seems financially healthy enough to withstand a public hearing without gelling a rate m crease in the interim. Needs Rate Relief The company has constantly stated to the commission that it needs rate relief as soon as possible if it is to remain a iable investment in both the stock and bond markets ojlK-cte- lu-e- Most dividends ol 5 cents per common share He also said the company has never missed a dividend payment 't i(ii. mission tile are unove said tlii.se mere;, inflation rates, therefore an should be conducted by the commission hcfore any rale increase is granted Salt i'alir Mr. Wilke assumes Sept 1. Flection of F. W. Wilke Jr., 52, as president and chief executive officer of Walker Bank & Trust Co., was announced Thursday by Robert F. Bryans, chairman of the hoard. smooth transition said. his new duties Mr. Bryans, who said he intends to retire in lttst) after a banking career, relinquishes the post of chief executive officer. , is president and chief executive officer of the Bank of Nevada, I.as Vegas, which with Walker's is an affiliate of the Izw Angeles-hasWilke Transition Period He will continue as board chairman for an interim period to assure a d Western Bancorporation. 25o50 And Other SPORTSWEAR and FURNISHINGS P. W. Wilke Jr. Gets Top Waiker Post Reduced . Robert E. Bryans Looks to Retirement O And More From the Ladies Dept. Odds n Ends QaitP a At 24 ssfl tfin anflaft Fantastic Reductions Shoes h? g&jit rm 00 Mens Shoes REPORT OP CONDITION ConvcmJa'ed Reoort of Conditio of VALLEY BANK AND TRUST COMPANY of Salt Lake City. Utah and Foreign and Domestic a stale banking Subsidiaries, at the clot of business June JO, institution organized and operating under ne benkitig laws of 'ht State and a member of th Federal Reserve System. Puonshed m accordance with a call made bv the State Banking Autnuiltles and bv the Federal Reserve Banking ot this District. ASSETS Cash and due from depository Institutions (9. Deposits ot States and political subdivisions tle United Slates Depo nts of ommemai hank Cnrfitiedanduffiv.er o1 Letusis ... theiks 10.926.000 .473.000 T.l.OOO 4)1.000 $317 00 00 00 00 JIC4 ederi REG. $42.50 SIDEWALK SIZZLER! cnvirrmKfir irara-- The t?rrTii!nRiTrcwaitmaro n, Burton-Armstron- ir I1! J REG. 32 1A g Mr. Bryans i a member ol the board the Sait I.ake Bram h of the Fedt ai Resen e of San Franeiso and of the execiitne committee of the Commei cial Fean Division of the American of i Bankers Association. Mr. B nans and his w i(e to reside m Salt Lake City w lion I Igett ill coni nine "The outlook for this yeai is more pnu.iiMii-,Mr. Bates added. "The incoming order rate is vood employment has stabilized with most of the peopV hired last year now trained, and greater utilization ol the new plant should further reduce unit fixed coMs He also said the companys new Valdisk control valve, now in production, should begin to have a positive impact on sales as the year progres-e- s Ojjjden IVIall Project Planned for I 9? 1 1 Special to The Tribune OGDFN Flails have been annomieed lor the const rut t ion of an 875 mail here, with the completion date scheduled tor the toll ol las; The project, a joint ventuie between New.- tie Associated, LTD, and Hornait Development Co envisions more than h)0 stores, a theatre complex, three restaurants, a dozen haul bouliqius and. parking for 4.5oO cars. till . Detelopei-v-Ine.Construction will be handled by and" of Encino. Calif Machan, Ham;. Pruitt, of Salt Lake City, will handle leasing Humart Development Co. of Chicago will operate and manage the Newgate Mall, which represents the companys first venture into the mountain states,-llomarhas participated in the development of 36 ' regional shopping centers around the country and 15 of them. operates di-re t . ?j folfS AL $29.95 00 tmim 5254 SIDEWALK SIZZLER! CAMP STOVE SIDEWALK BURE11R CAMP STOVE Black Box. .. l) Tola' demaiKl 1epVMis Total time and savings OfOOSiK f 5256 3-BUil- in 71 20, 1979 20 GAL. COOLER 7.199.000.00 corporations t ime aro saving. riuosIH of individuals, partnerships, .tu cur po ations DthVsItsof United Stales Government 1 0TS:05$oSTTilMlJ5 0D.si33r5itjnoJE4i Treasurv wcurties b. Less- allowance tor possible loan losses c. Loans, Net I ease financing receivable. Bank premises, furniture and futures. and otner assets representing ban premises... Real estate owned other than bank premises Other e.sets lOt AL ASSETS LIABILITIES Demand de posits of individuals. partnernips. and Ju! omM Open 10 a.m. to 5:40 p.m. Obligations of otner U S. Government agem es and corporations Obligations ot States end political subdivisions in tn? United States Federal Reserve stock andio'porett stock Feoerai funds sold ano securities purchased under agreements to resell a. Loans. Total (excluding uneartKt Friday Morning, YU AT THE SGG Downtown only S. In 1971), he was named president and chief executive of the First National Bank of Laramie. Wyo lie joined ih Bank of Nevada. Las Vegas, as ;vm dent and chief executive in 1975 NATIONAL ARMY & NAY'Y STORE Arthur Frank U 1W7. Valtek-Edmonto- $2" Fron'U" MENS Mr. Bryans also has held the presion interim basis sinee last December when former president. M. D. Borthick, was named director of the Ftah Financial Inst it u dents esponsibilities Special to The Tribune SPRINGVILI.E Valtek, automatic control valve firm based here, has reported net earnings of $) K 8,954 for the fiscal year ended April 30, 1979. The earnings are down from $1,523,287 for the previous year, the firm reported. Although earnings were dow n, the firm said sales of $16,013,333 were up more than 17 percent from last year, orders received were up more than 24 percent at $17,890,333 and backlog was up 23.5 percent at $9.9 million. Lists Four Factors Valtek president Charles L. Bates listed tour factors contributing to the drop in earnings: Relative inefficiency of a large number ol new employees hired after the firms move to its large new plant in Springville. of other manufacturing Escalatin' costs resulting in an overstatement ol pretax earnings lor the previous nine months. Higher operating costs associated with the new plant. Costs of Lawsuit now under appeal which Costs of a lawsuit was brought by a competing control valve firm. On tlie positive side, Mr. Bates mentioned an outstanding year by Valteks Houston operation, continued improvement by its subsidiary, and a strong export performance. Overseas licensees contributed nearly $180,000 in an increase ol 144 royalties to pretax earnings percent over last years figure, Mr. Bates said. SHIRTS, WASH PANTS From business Valtek Sales Up, Earnings Dow Odds n' Ends $ i in 12 when he w as named senior loan ofticer and vie e president of the Conrad National Batik of Kalispell. Mont. He was elected senior vice president in he management l'J-C- Slight Charge For Alterations Florsheim in tions department. Mr. Bryans joined Walker in BC5 as vice chairman of the hoard and was named chairman and hief execute e officer a year later. He formerly had been with the First National Bank of Casper, Wyo., also a WBC al filiate, which he joined in as a teller. Mr. Wilke hegan his banking career Reduced 50 Flic! on Mountain study Walker Bank & Trust Elects New Leader Mr. afte-moo- i l. W. Wilke Jr. Special Group SUITS, SPORTCOATS and SLACKS liursdav thi.l he has done extensive on the business cost Mountain Ft:.-- bus churned ovvr the post ,w veals ALL OTHER SIZZLER! 426 REG. $44.50 413 REG. $34.50 20 COLEMAN ... tunds pu(hd,J and securities sold ufkJe agreenents tc rvrpurcn se interesl bearing demand notes mote baianres) Issued tetne U S. Treasury b Olhef liabilities tor burrowed money Mortgage indebtedness and liabi'lty tor " ' jf OF?! ggumwMra1 3-L- capnaiUed ieaas B. HOLLOFIL SLEEPING BAG SWIM TBUft&S ALL SIZES! Reg. $21.95 Other liabilities TOT AL LI ABU iTlfcS (ec luding sufxr dinated notes end debentures i Subordinated noies ard ires EQUITY CAPITAL Common ?tu k a. No Shares authorized, 481) 000 b. No shar esoutstdiMjug, 3el,J?6 $76 00 (par value Surplus Undivided profits TOTAL EQUITY C APITAl s AND Ny1or Outer! Soft Flannel Lining! totai liahiut.i equity capital MEMORANDA Amounts outstanding as o retjort date a Tmte ertltic ales of deposit in denominations jf $)O0 Ouuor more Average for JO calexjr days (or calendar month) ending witn report date, a. Cash end due from depository Institutions b Federal funds sold end securities pur ha1 uno' agreements to resell c. Tolai loans d T Ime certifU afes ot deposits m denominations of $00 uOOor waleh mu. comm more e Total deposits t. Federal funds purchased and securltii-sold under agreements to repurchase g Oftw liabilities tor burrowed money h. Total assets i. Dennis G. Reeves Controller, of the above named bank do herebv declare that this report of condition has been prepared m contorman.e with tt instructions issued by the Board of Governors of the Feoerai Reserve Svsfem and thy State Banking Authority and is true to ihe i o nv knowledge and behet SIDEWALK SIZZLER! ASSORTED STYLES SIZES! Values to $32.50 EXCELLENT COLOR AND DFNNISG REEVES We the undersigmd directors, ettest the correctness ot this reurt ui kOndifio ai d 'aie that It he Iwen evammed by us eid K in benl o r our knowledge anj has pre(ared in conformance with fhe nstfucfions issued t)y tte board of Guvernoit of the Feoeri keiMvve Banking A utbor IS and is true and correc ir sfom and the D. H DAVIS JR oi St? o acorh thaynf ST INGHAM TNIDH Dir ec tors STATE OF UTAH of F inane tat institution, Chief Enairuner do hereby certify that the foregoing i. l,CB coQuinn, 4 n,. .hkv, , nttniMi n.tk hied in rw.'t r ouv 'd the stafmni ve this off n e on July 16, 197V C B QUINN Chief E Rammer State of Utah, ( ounfy of Sad ake s Swore ip and subsc rihed before ne fhw lsh day ut Julv, 199 Department U.m! to sic lui uii'mH; ( :.tll Burton-- . i iii'ituiig hi, tics. Wc'ic tin kc to your rm.iiui.tl lit i N N Asm 1 .V Assoi ialcx, liu . 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