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Show Mountain Fuel Stock Surge Due to Misinterpretation? By Paul Roily Tribune Staff Writer Mountain Fuel Supply Co.'s common stock shot up five points in three days this week on the New York Stock Exchange and company officials are worried the sudden surge is due to some misinterpretations by investors on Wall Street. Mountain Fuel's public relations director. Dale O. Zabriskie, said Friday the company is delighted that the stock has done so well this week, but there is concern the stocks prosperity is temporary due to erroneous assumptions. The problem involves a decision by the Utah Supreme Court Tuesday, which prohibits the Utah Public Service Commission from ordering Mountain Fuel to transfer its exploration department from a subsidiary, Wexpro, Co., back to the utility division. Regulated by PSC The utility division is regulated by y the PSC while Wexpro, a firm which handles Mountain Fuels oil assets, is outside the jurisdiction of the commission. Mountain Fuel transferred its exploration department to Wexpro t non-utilit- The Supreme Court agreed with Mountain Fuel's contentions and issued a writ of prohibition to the Senator Claims Ethics Cou rse Issue Special to The Tribune and 17. Sponsors are the Snowbird Institute, the Utah Endow ment for the Humanities and the Westminster College Institute for the Humanities. Businessmen, academicians as well as attorneys will be the faculty. The $50 registration fee includes continental breakfasts and lunches on both days, according to for Randy Montgomery, vice president-marketin- g Snowbird. percentage is higher in terms of money involved The Florida Democrat, chairman of the Senate subcommittee on federal spending practices, said his staff found that $1.1 billion of the $2 billion in contracts audited were awarded to people and companies that shouldnt have gotten them. Goes to Wrong People "We're talking about a program that is giving hall the money away to the wrong people, Chiles said at a hearing on the SBA findings. William A. Clement, associate administrator of the program, said minority businessmen now must own 51 percent of the voting stock in their companies y and demonstrate control in order to qualify for the special federal contracts. He said the SBA also will analyze the personal assets and net worth of businessmen applying for the contracts to be certain the government business is directed at economically disadvantaged" minority businessmen. The SBA's inspector general, Paul R. Boucher, said he disagrees with an SBA decision to allow minority businessmen to make management agreements" that affiliate them with other businessmen day-to-da- SNOWBIRD Business ethics from a humanistic perspective will be subject the seminar here Oct. 16 Use Minority People Chiles agreed, say ing he was certain businesses that are not eligible for the minority contracts still would be able to use minority people to operate "fronts." "Im convinced that the same players are going try to take the money out again, Chiles said. The University of Utahs INVITES YOUR BID ON THE FOLLOWING: LAND FOR SALE announces a new aeries of 38. 37 ACRES, more or less, located at 1 ,600 South 1000 East and runs EAST (opprox. 1330 ft. on 1000 East St ). Porcel is almost square. Parcel is sold subject to all zoned easements, restrictions, and rights-of-wa- yi Minimum Acceptable Bid: $1,228,000 SANDY: 19 48 ACRES, more or less, located at 11,600 South 200 East and runs WEST (approx. 1 338 ft. x 650 ft. deep). Parcel is sold subject to oil easements, restrictions, and rights-of-wazone Minimum Acceptable Bid: $623,400. Successful bidder on each porcel to pay balance in full within 20 days. SANDY SEMINARS FOR SMALL BUSINESS MANAGERS beginning Tuesday, October 9 Eight weekly sessions on marketing management, accounting procedures, planning and control, financing, and management strategies will be held from 0 p.m. in the The Utah of Transportation makes no Department representation as to title or boundary lines. Title is passed by the State through Quit Claim Deed. Parcels are sold subject to State restrictions controlling outdoor advertising and open storege. The deed of conveyance will be recorded by the State. Business Classroom Building PERSONALIZED COUNSELING ON BUSINESS PROBLEMS A cashier's or certified check in the amount of 5 of the bid must be furnished as a deposit with all bids. In the event the successful bidder fails to make payment in full within the time specified, the deposit submitted will be forfeited as liquidated damages. In this event, the State reserves the ALSO AVAILABLE Call 581-718- 1 or 581-745- to THE STATE OF UTAH Small Business Development Center lor 8 right to award to the second highest bidder. For further coll Property information or inspection, 1. Management, Utah Department of Transportation, fee and registration information issue and essentially force a transfer jf the acreage back to Mountain Fuel, plus divide the revenues earned through sale of oil reserves between Wexpro and Mountain Fuel After that order. Mountain Fuels stock slid about eight points to 24 on the Big Board. It then rose to about 28 Volume Leader That order has been suspended by the Supreme Court to give Mountain Fuel a chance to appeal to the U.S Supreme Court non-utilit- y Saturday Morning October 6, 1979 Pape 8 Section C Papers Due Oct. 22 On Mining Claims Persons who located mining claims on federal lands before Oct. 21, 1976, were reminded by the Bureau of Land Management that they are facing a critical deadline. Copies of location notices and evidence of 1978 and 1979 assessment work must be filed with the U.S. Bureau of Land Management's state office in Salt Lake City by Oct. 22. Central Registry On Oct. 21, 1976, Congress passed the Federal Land Policy and Management Act. One provision calls for a central registry of mining claims on federal lands. Congress gave miners and prospectors three years to comply. If they fail to meet the deadline, the law says the claims must be considered abandoned, according to Robert Lopez, chief of the branch of records and data management for the Utah office of the Bureau of Land Management. No Notices The law makes no provision for mining claimants to receive notice. Nor does it provide for administrative recourse. Claims and assessment work may be filed m person or by mail. Persons with questions shou'd call the BLM state office. Learn the exciting and lucrative way to earn unusually high commissions. If you have had experience selling one called high products and are a strong closer, we can show you how to earn $50,000 annually or more in commission. We are the leading apartment broker in Utah with more listings than our present staff can handle. If you have a current real estate license and are agressive and have a desire for lots of income, call Jerry Brown Mountain Fuel Supply Co. for the first time is extending natural gas service into Wellington, Carbon County, as 400 residents have signed up with the utility for service which wiU begin later this year. Mountain Fuel's Utah service area has pretty much been limited to the northern portion of the state because the company has no gas lines running into southern Utah and the population has not justified the costs of building new lines. Mountain Fuel has had service to Price for some time, but the venture into Wellington is the first time the company has gone south of the Carbon County seat. Factor in Decision Residents and developers requested last April that Mountain Fuel bring natural gas service into Wellington, and the growing population in this coal-ric- h area was a factor in the companys decision to build a $785,000 pipeline to the area. Mountain Fuel public relations representative John Keahey said the areas growth potential is reason the firm is spending that much on the pipeline. Mountain Fuel, he said, felt it would be better to build a pipeline that could handle a greater capacity than the present demand because construction is cheaper today than it will be after inflation takes its toll. $70 Up-Fron- Fee t Also, he said, some of the cost is going the existing to to improvements pipeline to Price. The new customers will each pay a e fee for the $70 construction costs of the pipeline. Mr. Keahey said that fee is being imposed so other customers in the state are not saddled with the costs to add the Wellington residents to the system. one-tim- up-fro- ut According to Ralph Coates, Price division manager for Mountain Fuel, the community has 500 potential customers plus whatever future development occurs in the area Mr. Coates said the first customers should be hooked up by the middle of December, w ith others coming onto the system as their appliances are converted. He said Wellington residents currently use fuel oil, propane, coal and electricity for their space and water heating needs Gas for Other Areas The Tribune reported several months ago that other areas in Southern Utah may be getting natural gas service in the near future as Pacific Gas and Electric Co. of Northern California is planning to construct a pipeline system from the Overthrust Belt area in Scuthestem Wyoming through Utah, Nevada and into California. Mountain Fuel officials have said that if it proves economically feasible, and if they have support from communities near the PGE pipeline, the Utah utility may contract with PGE to extend lines off the main system into those neighboring Utah communities. Fair to Study Relations With Government How to do business with the government will be the theme of a business fair to be held at the Salt Lake Hilton Oct. 11. The fair is aimed at small businesses and APARTMENT SALES Bid forms available in Room 147 State Capitol, 533-572- 1 Bids will be received until 10:30 a.m. October 23, 1979. J. DOUGLAS CHRISTIANSEN PURCHASING AGENT minority-owne- busines- d ses in Utah and surrounding states. The seminar is hosted by Hill Air Force Base. The event will also demonstrate how indi $5,000 Increments 1 MAIL TODAY OR CALL COLLECT 486-082- 1 .$$15 PIONEER MORTGAGE Purchase 1570 So. Main, S.L.C., Utah 841 15 I y Msitats $$ .eacuiad t PHONE UMi fully Mortgages safetmare (5000 to Invest- $100,000 denominations gale the details MORTGAGE INCOME REALTY 0 63? East 400 Soum 801 NAME CITY sound, Apartment Building y yielding 15 or ADDRESS 0 Registration will be 8:30 a.m. to 9 a.m. at the Hilton. Counseling and displays will be available from 9 a.m. to 11 a.m. and from 1:30 p.m. to 3:30 p.m., all at no Luncheon will be served from noon until : 15 p.m. Cost is $6.25 per person. Fully Secursd Short Term Paid Monthly at 363-503- viduals can qualify to be contractors or subcontractors. charge. ON SHORT TERM FIRST TRUST DEEDS ly NORTHPOINT NEW FOR FALL FROM DESERET BOOK -- v. Tuesdays announcement, how ever, sent the stock spiraling from 27 Tuesday to a Wednesday close of 29 after 635,000 Mountain Fuel , shares were traded, easily making the gas company the most heavily traded firm on the Big Board that day. On Thursday, the stock went to 32 after 335,500 shares were traded and Friday the stock slipped back to Vi 31 after 149,900 shares were traded, indicating to Mountain Fuel officials that the word is finally getting around Wall Street that the Wexpro issue has not hi'en finallv resolved The court ordered the Public serv ice Commission to rehear the jalt alf Sribunr MFS to Provide Service "Business For 400 in Wellington Audit Bares SBA Fraud By Jim Davis Associated Press Writer WASHINGTON Half the money for federal minority business contracts is going to fronts or minority owners who don't qualify. Sen Lawton Chiles said Friday. The Small Business Adnunist ration announced Tuesday that an audit revealed that 323 companies receiving minority business contracts may be ineligible for the program. But Chiles said the commission, disallowing the lorced transfer. That's where the apparent confu sion comes ill Mountain Fuel officials think many investors took the Supreme Court decision to mean a reversal of an earlier decision of the Wexpro controversy, and entnely different issue. That case was decided by the state's highest court a few months ago. The court ruled that Mountain Fuel should not have transferred millions of acres out of the Mountain Fuel accounts to the Wexpros accounts little more than a year ago, but thi commission ordered the department back into the utility division a few weeks ago Mountain Fuel argued the ordei was a violation of the companys constitutional rights to due process because the order was made before the utility had a chance to argue the matter. It also charged that the state was trying to manage the business of a private company. ' I' l 1 I t Families Are Forever ...if I can just FAMILIES ARE FOREVER... IF I CAN JUST GET After One Year In Development THROUGH TODAY! Janice Madsen Weinheimer. This enjoyable book covers everything from bathing babies to disciplining teenagers, from giving children household chores to giving them votes in the family council, from rocking the cradle to cutting the apron strings This very successful mother tells how she and her husband trained their children in gospel subjects, homemaking skills, reverence, cleanliness, thriftiness, and joy Nortljpoint Condominium Phase One By Janlce Vnheir lo A Limited Number Of Residents Who Hove Whited J be Quintessence For In Garden Condominium Homes S6.95 At Salt Lakes tcx elusive Address, litlj Avenue and through! today Madsen Now Offered Is Pirni Inquiries to telephone I hi1 ZCMI Center Cottonwood Mall University Valley Fair Fashion Place Mall. Orem 550 .Sunil I Jjiril Cache Valley Mall. Logan 521-63- F Street Ikiln Uimidi 75 hirtun Componi tost. Suit Luke Cii I inti) tiiw hiom S 179000 M 1 K T 1 j |
