| Show Insider Trading Monitor The Salt Lake Tribune F3: Sunday February 26 1989 Commercial Banks' Insiders Setting Trend in Buying Shares' shares in December probably don't regret the move Five of them all directors picked up a total of 75325 shares in the $35 to $38 range during the month Since the buys the stock By Bob Gabe le FCI InvestNet For over a year now we've been noticing the rate at which insiders at commercial banks have been buying up shares The trend which leveled off a touch in the second half of '88 is picking up again Commercial banks continue to lead all other industries in the level of insider accumulation for the past year Much of the recent accumulation is centered in the regional banks First Fidelity Bancorp (New Jersey Pennsylvania) shares took a hit in mid December when upon the announcement of an expected fourth quarter loss merger discussions with Montclair Savings Bank were canceled The stock promptly fell from $36 to the $26 range First Fidelity director Arthur M Goldberg seized the opportunity to load up He bought 114500 shares in the $2613 to $2713 range boosting his holdings substantially to 159690 A second insider bought here also Director Rocco J Marano picked up 1000 in the same price range and now reports his holdings at 3548 ': Insiders who bought Citytrust Bancorp (New York New Jersey) ing at $1150 in June the shares have been on a steady downhill slide which has taken them to the $6 to $7 range recently Recent strength in the market has done nothing to change the pattern We're especially concerned to see big insider sales occurring right on year lows Five insiders sold a total of 424655 shares in January in the $675 to $8 range Officer Louis P Ferrero sold 150000 at an average price of $680 each slicing his holdings to 151123 Vice President Thomas R Simmons' sale of 50000 for $670 each brought his position down to 34520 Both Computer Associates International Inc President Anthony W Wang and director Charles B Wang have been regular sellers for some time now What we've noticed lately however is the fact recent sales of the two are running at higher levels than in past years Anthony Wang sold 150000 in late January for $3554 each His previous sale of this size occurred at close to year highs in 1983 Charles B Wang let 300000 go in January in the same price range He had also sold 286500 in December Like An has moved sharply higher and is now trading in the $44 range City National Corp (California) has seen three of its insiders buy a total of 13100 shares since November in the $2350 to $2550 range The biggest buyer has been director Burton S Horwitch who has picked up 10000 shares in his first buy since 1987 He now holds 66350 shares Three insiders at Valley National (Arizona) bought a total of in the $25 to $27 area It looks as if they are taking advantage of bargain prices as the stock traded as high as $3288 back in September On the sell side the computer group is beginning to show renewed signs of insider distribution We had been seeing an abatement of selling in this group for the past six months and have been looking for signs of buying It looks as if the selling still has some way to go however Anacomp Inc's recent chart reads like a depressing soap opera Peak Corp 4500 shares recently SL Area Sees Industrial Space Drop was sold "A very positive development was The drop in the overall vacancy rate to 959 percent" Mr Bennion said "which was below that of 1986" Last year 448200 square feet of space was added to the market bringing the total amount of industrial space to 64676172 square feet "The new space that has been built is being absorbed with not a lot of new space being added" he said "That helps stabilize rates and with current building rates shortages could be seen in 1990" The average monthly lease rate fell 079 percent last year to $2526 per square foot from the $2546 in 1987 but ahead of the $2340 average in 1986 feet The industrial space market benefited from the improved economy according to an annual survey by Commerce Properties Inc The 1988 Salt Lake County Industrial Real Estate Absorption Study shows activity last year produced the highest occupancy level since 1985 a drop in vacancy rates into single-digit- s rents stabilized and a 20 percent drop in the major industrial park vacancy Commerce Properties has charted the industrial market for the past 10 years The study does not ine clude projects Richard C Bennion Commerce Properties principal broker notes absorption has remained around 3 million square feet the past three years with 38 million square feet absorbed last year almost 700000 square feet more than 1987 " He said just over 2 million square feet of space was leased last year and more than 18 million square build-to-suit- even the Salt Lake International Center was able to reduce its space by 5 percent to just over 20 percent from 1987 The study notes leasing activity for large increments of space was three times that of leased small spaces a reversal of the usual pattern of the past several years reflecting the negative impact of the local economy on small start-ubusinesses Mr Bennion noted a significant number of sales of large properties last year helped the absorption level With 1988 absorption levels there is only a seven-mont- h supply of small industrial space 5000 square feet and under and a supply of and large space over 5000 square feet "We expect 1989 to be as good as 1988 and the attitude to improve greatly and lead to an excellent 1990" Mr Bennion said thony Charles had also sold a big block (475000 shares) in '83 near Deposit or Regular Certificate of Deposit pays high money market rates Deposit $100000 or more to your IRA Certificate of Deposit or Regular Certificate of Deposit and reap the rewards of an 87 interest rate mid-size- to $10000000 by the National : ' : I1 ' 870 Robert L Austin officer and director exercised an option for 3000 shares of common at $3153 per share Jan 19 and now indirectly and directly holds 19588 Stuart G Cameron director exercised on ophon 6100 shares of common between $322243228 per shore Jan 30 and now directly holds 22481 Richard Marvin Womack vice president sold 2000 shares of common at $91 83 per shore on Jan 27 and now directly holds 6274 Allen C Born chairman purchased 4000 and sold 21000 shares of common between $2325 and $2488 per share from July 6 1988 to Jan 12 1989 and now indirectly and directly holds 3864 Ballard Medical Pmduct John Bloomberg director sold 10000 shares ot common at $18 per share on Dec 27 and now directly holds 46200 Dupont (LI) Do Nemours b Co Charles D Brown vice president sold 3000 shares of common between $90 and $9375 per share from Jan and now indirectly and directly holds 15167 Inc E Systems Esop beneficial owner purchased 32501 shores of common between $3025 and and now directly $3088 per share from Jan holds 5348764 - '''':- 4 : I ' Insider Trading Month Activity Summary Company Name Accum Disposing 25 Albertson's 1 Alcoa Amax Inc 0 12 American Brands Inc Ballard Medical Product 0 11 Dupont 4 Inc 4 Eaton Corp Six Exxon 8 GM 6 Natures Sunshine Products Procter & Gamble Co Santa Fe Southern Pacific 2 I I : ' i Station zoning AntoCAD4 ---- T 2 Co Westinghouse a 0 a I sPageatilet5itionLiker i :i: askt 77:2 - ' It:''4t4' :::: S::: k i 4 4 ''' - ' s: -- -- Vs 44 t 6 k''k ' 't 'i ! " - e$3k: tk ':17: ii ': ' ili44431 - '4'Xk ' i': 4kkk:-'''''r':4144 k '1 ttL' ttIV '' 6fi: 440 " N "":: - - k4: ''f: 4 w ''' IV:1 k 1 :''' '?:'':':' t:' ''""' - f 45 t worAdtmom ":' " - A Ithntton ILT70 numinglAtUSA ' ''''''''S' - t ' t :: and 4 character based terrainals Or up to::':!: Mix up to 4 graphics workstations : 8 character hued tertninals:- 1::::: il: :!: ' anal a Share printers Mes with up to 8 Other users I multitask on the host console Novell and Tie into networks such as 3COM 1111M Token Ring artd PC-N- Siemens and btidge clusters of 8 nodes through network cards a VM386 provides the highest degree of data integrity of all the PCMS-DO- S multi-use- r operating environments so you can continue to use your favorite DOS I vM1386 uses PCMS-DO- S software - 13CKE'IT COMPUTER -- I 0017' 'est - 5 269:8400 :EVEHEXIA11 Ortz- f:- SERVICE ' f ill y ip " 1 : :I--J -- r toPtqt L' ! k At '' k ' 11 la iI I : '' " 4 1! 01 " ::' '''' ' :'- '‘ A6 f '''' -- q 0 - t 4 4 li 4 N: i: I 4 1 I t ::-r- ra i t 1mmc It ra 4 t Ma !) tiliw aeff '''''"" ''''''"'""414t t- - ' kk'tit7:- - : !:' 1: 444f 469mmommimi No kir 04:7 4"4004gte!e rl 011::":"::: '- 44 F 7 sk gP ' S4k t t ot ls :1— 44 -- t t ' P etli Ntsit t I " Ne )t- ) N I li' t 'iI 1 --74 - 4olor ''' - ' i ' Aotszlool '''''' b Sialt ' ' -- '!'i t t s -" ' ' : ' 3 : — A:r MO stature G0111 ACC 1 KIM HS major award MONY gives including some very high honors from the industry itself fie is dedicated to being the best he can be and has been described as a consummate professional Ile serves the industry well ' not only by his national in '''':0:1(1':''''::' volvement but also as past '' 'Att 1 '' ' ':!: ':: '' president of local associaip'V) tions lie currently sits on t numerous MONY Commit- - Everyone who knows Carroll D Do 'son agrees he stands tall Perhaps that is why a committee of his peers has chosen him from among 4000 agents to receive MONY Financial - 7777""H 4 1- -: in - e it and not only 1) t:1 i ! Carroll Dolson standstall N) 11) "A variety of businesses including a law firm restaurant travel agency bank radio station and advertising agency made Triad Center their new home during the past year In fact more than 115000 square feet of office space was leased in 1988 Services' highest and most prestigious award: Man of the Year This is an award based on outstanding character and leadership — an award that reflects an unusually high level of dedi- cation to the life insurance industry his clients and community Carroll lives in Copperton with his wife and daughter but his community devotion extends throughout the Salt Lake Valley He has been involved with Easter Seals United Way the Primary Children's Hospital his lo-cal PTA and Ducks '' ''''' '':: '' ' :4 '1''''' Id0 01 ' tees ttitt '''' c:::::: 1'7:: : :::ik:-::::- 1(17 11:i: -'- ' ' :'::: 4 " t - '! " " Since joining MONY's Salt Lake Asso ciates 16 years ago Carroll has won every : ''''' : is an accounting firm Triad otters an excellent tenant mix a prestigious downtown location with all the conveniences of a suburban office park and very competitive rates So if your accounting firm is looking to make a smart move we're anxious to talk with you" Ecouiwetil A - 9a4 (704e7a-u0-C Jack Woodward Scott Wilmarth k rirt LsottL 1111r71- ' - : mEFABE R Of THE SEARS FINANCIAL THE TRIAD CENTER Jack Woodward Scott Wi hart 530-392- 8 NETWORK The - ' FINANCIAL SERVICES 6985 Union Park Center Mutual Life Insurance Company of (801)-566-66- Carroll D Dokon CLU ChFC New York New York New York 530-392- 5 x be- - lieved if you work hard you can reach any height and any goal Nothing is insur- - mountable winning Imagine 1 the highest award his corn- 1 :'''' pany can give and he feels his climb is just beginning! f We invite you to call 1 Carrroll to find out what he " can do for you in the areas of fringe benefits personal and business insurance and financial planning 1 i:- ''7' iT": T i!isp : '''i ) 1 ' ' 7"(4' - e 1 :::': FE:: Carroll has always e e Hi t:)'t V '' As the leasing representatives for Triad we're very pleased to have these respected businesses join us What we don't have however ' :: its & H :: la a rorpaterod trademark Of internetionat Pearsall Wyse and W140 are trademarks 31 Wyse technology tos AutoCAD Is a- trademark or AutoDook Inte trademark of Lobs Cavalornent Corp Of Kindron Corp Lotus and 1241 Machines SiderUck la a Irademark or Portant KI10 is a Pedants 3 k '''''1""v et 2 (801)572-600- 1 nmning a Q&A database : LAN7 Itott0111:7An00saert8:1:g 71 wy604 A Wyse 17 1 4 word A :: lt k JY0- i 14 Texaco Inc t 13 3 PC onninsitunningsVolinuming386 to (16 coArib2glertHrho::etuo0773 Sandy Branch 10692 South State Sandy Utah 84091 C 4 "II Richard J Kruizenga vice president sold 2000 shares of common at 846 pet share Jan 30 19159 : and now indirectly and directly holds 28013 '''tsildlotrt the complexity -- :::: (801)487-169- 853 i "p ' ' David W Calloway director purchased 1006 of common at $45 38 per share Jon 26 and now directly holds 2500 shares VT1386 Toluttither Pak givos you the bendrzs of f Credit Union interest rates are subject to change without notice I 4 - ' 1 j 6601 t 4 4 sold vice president Exxon Corp Charles M Harrison vice president exercised on option for 3009 shares of common at 81928 per share Jan 30 and now indirectly and directly haldSt 47289 of Santa Fs Southern Pacific Corp tel Corp beneficial owner purchased 185100 shares of common between $1725-$177- 5 per shore from Jan and now indirectly and directly holds 26750300 Olympia & York Realty Corp beneficial owner indirectly purchased 13489354 shores of common at $1813 per share on Jan 13 and now indirectly holds 30136154 Olympia & York St Holdings Corp beneficial owner purchased 13489354 shares of common at $1813 per share on Jan 13 and now directly hoids 30136154 Texaco Inc Act Industries Inc beneficial owner indirectly puichased 1849700 shores of common between and $5475 and $6575 per share from Jan now indirectly holds 42322200 Heron Investors Plan Inc beneficial owner indirectly purchased 1849700 shares of common between S5475 and $5575 per shore from Jan and now indirectly holds 42322200 Amax Inc ' Main Branch 37 West 1700 South Salt Lake City Utah 84115 : - Merrill for 1"" Trans West 881 843 holds 7400 Gappmayer director sold 10000 shares common between $675-$- 63 per share from Jan 26 and now directly holds 3180 PTOCt 9f la Gamble Co Eaton Corp Robert W Gillison William F Gilroy vice president sold 100 shores ot common at $7613 indirectly and directty holds 372 ' Vitstinghouso floctric Corp Somuel R Pitts vice president sold 645 shores ot common at $54 per shore Jon 24 and now direttty: Campbell also sold 804 shares of class H cornmon at $2475 per share on Jan 23 and now nalredly and directly holds 56 shores Nature's Sunshine Products Inc 7532 4 It pays higher to invest at Trans West Effective AnnualYield Annual Percentage Rate All deposits are federally insured 0 Amount Lewis 8 Campbell vice president sold 1312 shores of common at $8775 per share on Jan 23 and now indirectly and directly holds 1968 He also sold 546 shares of class E common at $44 25 per share on Jon 23 and now indirectly and directly holds 14 Albortson's R Bruce Gordon vice president soid 2600 shores of common at $3788 per share Jan 18 and now indirectty and directly holds 2321 Amrican Brands Inc John T Ludes officer and director exercised an option for 2400 shares of common at S3153 per share Jon 16 and now indirectly ond directly holds d Credit Union Administration a US Government Agency CD $1000 $10000 to $9000 to $49999 Carl C Icahn beneficial owner indirectly pur- chased 1849700 shares of common befween $54 75 and $5575 per share from Jan and holds 42322200 Icahn Holding Corp beneficial ownet indireptty purchased 1849700 shares of common between $54 75 and $5575 per shore from Jan and now indirectly holds 42322200 t Womokombort Co Battenberg vice president sold 851 shares of E common at $44 25 per share on Jan 16 and now indireclh and directly holds 878 He also sold 296 shores of class H common at $24 63 per share on Jan 16 and now directly holds 1754 Judith M Gueron director purchased 100 shores of common at $61 25 per share Jan 25 and now directly holds 200 logo Ads I Ji Aluminum Co Of Amorica tntin SENO Eu 8 General Motors Corp doss : A Trans West Individual Retirement Account Certificate of directty The Wang's hold 1491800 and 3926300 shares year highs 0 Some financial institutions pay so much for large advertising that there's little left for your savings Icahn Capital beneficial owner indirectly pur1849100 shGres of common between 5 per shore (torn Jon $54 and noyi indirectly holds 42322200 chased p The active leasing activity dropped the vacancy rate in the area's five major industrial parks by 20 percent according to the study and Epomo re og shores or common between $57 50 and $57 25 per - 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