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Show Tribune. Saturday. Mat fi B The Salt T. 10- - Farmers Market Sets June Opening in S.L. Increase Called Excessive Leads Boosts Steel Way Prices, Republic government spokesman said in Washington that the price council thinks the industry needs some relief, but this seems too high " Imported steel is selling m the United States for about $50 per ton less than domestic steel and you can draw your own conclusions from that." he said A By John Bronson Associated Press W nter PITTSBURGH Repuhbc Steel Corp led the way Friday in announcing price hikes on steel used m a wide range of consumer goods The federal Council on Wage and Price Stability immediately called the boost excessive and said it would investigate even though it does not have the power to force a rollback Other major steel producers, who have long complained of underpriced products and rising costs, said they were studying the increase We all need it," said an official at one steel firm Republic, the nation's fourth largest stcelmaki r, said the price of products would go up an average of 8 8 per cent, while the price of hot rolled and cold finished carbon and alloy bar would be increased an average of 6 8 percent, effective May 15 Flat-roP- d steel is used mainly in auto bodies, appliances and office furniture such as filing cabinets, and accounts for nearly half of the indus try's shipments Bar products are used in machinery, tools and forgngs and make up about 16 per cent of the steel market Called Imperative Rapidly rising costs make an increase at this time imperative," said Republic President W J DeLancey - long-expect- Repuhbc spokesman said the company notified the appropriate in the Carter administration people about the price move before it was announced pubbely Meanwhile, Arrneo Steel Corp and Universal Cyclops Specialty Steel announced increases averagmg 8 per cent A M&M Candy Munclicrs Learn Red Morsels Arc Long Gone HACKETTSTOWN, NJ (AP) -Those cute bttle candies that melt in vour mouth dont look the same anymore flat-roll- The next time you open a bag of M&Ms, the usually colorful misture of tvwniatp morsels may candy-coate- d look a hit dull The reds are gone Ban on Dye spokeswoman for the M&M Mars Co , headquartered here, said it elimi-natethe red candies from the package because some consumers associated them with the Federal Drug Administration ban on Red Dye No 2 She said M&Ms werent made with Red Dye No 2 but we decided to eliminate it Although there was nothing unsafe about the red M&Ms, some cancer-consciou- s consumers A d complained about them, she said The company, which produces about 4A billion pieces of plain candy and 11 billion pieces of peanut M&Ms a year, stopped making Uie red bits Jan 1 From Red to Orange The plain candies were reduced to yellow, green, tan, brown and orange The peanut M&Ms only had four colors to start red, green, yellow and brown so the makers switched the red to orange Now, the company has beard from consumers protesting that the reds were gone " You can't please everyone, the spokeswoman sighed Red Dye No 2 was banned in February, 1975, although it has never been conclusively proven to cause cancer," an FDA spokeswoman said A flat-rolle- Revenue Boost Repubbc's price hikes, covering ahout 80 per cent of the firms products, are expected to increase mill revenues by 6 5 per cent The company said it estimates the price increase, if matched by other major producers, would increase the wholesale price index by less than of per cent d Republics increase on steel works ou to about $25 per ton Since about 1V4 tons of steel goes uito the average automobile, the increase to car manufacturers would be about $40 A ton of flat roUed steel sells for about 6 5 1 flat-rolle- Today in Business industry source estimated the price increase would boost the price of steel used m a major appliance about $5 An Firm Chairman Resigns to $10 The effect on consumers depends on how much of the steel price increase is passed on by auto and appliance makers In Detroit, L M Chicone, Ford Motor vice president for purchasing, said he had seen no details of the proposed price increase and could not comment until he did Co s Victor I Cartwright, chairman and executive vice president of Deseret Pharmaceutical division of Warner-LambeCo , Morris Plains, N J , announced his resignation and retirement Deseret, founded in 1956 in Salt Lake City, was acquired late last year by Warner Lambert of Mr Cartwright, 59, u as Deseret along with former fellow pharmaceutical salesmen Dale H Ballard rt Volvo, Saab Agree On Merger Plans Think about yourself , for a change. time you fa a change Start living in a new Alta View Mobile Home that s not mobile at all, but set permanently on a lot. you own installed complete wi'h drapes, carpets, appliances carport and patio Forgot about climbing stairs and exhausting yardwork Alta View is fa adults who love tennis swimming clubhouse recreation and lots of shade trees in a quiet, country setting Alta View For the time of YOUR life Special to The Tribune Groundbreaking Friday marked start of construction of the $1 million Towne and Country Racquet Club here WOODS CROSS STOCKHOLM (AP) Swedens two giant carmak ers, Volvo and Saab, have agreed to merge, it was announced Friday. The merger would be the biggest in Swedish history The proposed new company will he named AB and will be headquartered in the city of Goteborg on the Swedish west coast, Volvo Managing Director Pehr G Gyllenhammar told a news conference. will be the new company's Gyllenhammar managing director, with the Saab director. Curt Mileikowsky, serving as Gyllenhammars deputy No Production Decisions Yet Gyllenhammar said no concrete decisions have been made yet about future production methods or the merger date But he said existing Volvo and Saab makes will be preserved Volvo and Saab together have more than 100,000 employes and last year recorded combined sales of $5 84 billion. Volvos share of that was $3 6 billion Together, the two automakers sold 53,111 vehicles in the United States last year, a 28 per cent decline from 1975 levels, and about one-haof 1 per cent of the U S car market. lf The club will offer racquetball, ten-mplatform tennis, handball and exercise and spa facilities, according to Merrill Beck, president Home Community 9800 South State Sandy Open 10 am - 7 pm Sunday 255-097- 2 Financing NOW Available Long-Ter- m Ncjon - 5 pm Large subsidies by other support of their car industries J. S. Special to The Tribune Dr Vance B. Tingey has been named works medical director at U S Steels Geneva Works, personnel superintendent F S Dam announced A native of Logan, Dr Tingey from Utah State graduated m pre-me-d University m 1962 and received his M D degree in 1966 from the University ZIONS FIRST NATIONAL BANK OF SALT LAKE CITY IN THE STATE OF UTAH AT THE CLOVE OF BUSINESS ON MARCH TO CALL MADE BV IN RESPONSE 31 1977 PUBLISHED UNDER TITLE 12 OF THE CURRENCY COMPTROLLER UNITED STATES COPE SECTION 161 CHARTER NUMBER Alii ASSETS Cash and due from banks f mu I ii.rt MW i fm S i $4ft1 619,000 Less Reserve for possible loan losses 3,115 (X He has served $s a liaison between police and doctors concerning drug abuse He served in the U S Navy for two years He is presently president of the medical staff at American Fork Hospital He and his wife, Cathy, have seven children maybe1 California, here we come Frontier Airlines has applied to the Civil Aeronautics Board for authority to operate non stop flights between Salt Lake City and Oakland, and between Denver and Oakland Frontier, based In Denver, for years has been trying to get authority to fly to the lucrative California market However its western limits are marked by Salt Lake City and Las Vegas Frontier said it would operate two daily rotind trips between Salt Lake City and Oakland, perhaps with a single plane backup to Billings, Bozeman, Missoula, Kalispell, Great Falls, Grand Junction and 00 00 OVER 50? COUPLE WANTED ... to manage rental property outstanding Other assets including tenant relations, light maintenance and individuals partnerships and corporations Time and savings deposits of individuals partnerships and corporations Deposits of United States Government DeoosIH of States and political subdivisions Deoos'ts of commarclai banks Certified and officers checks of domestic deposits total Total demand deposits of Minnesota Jackson Loans Net Crert lease financing Bank premises furniture and fixtures and Other assets representing bank premises Real etate owned other than henk premises Customer liability to this bank on acceptances assets total Dematyl deposits Financing was through Walker Bank Trust Co Frontier Seeks Air Route ZI0NS FIRST NATIONAL BANK Treasury securities ea ions of other U S Government agencies end corporations Obligations of states and political subdivisions Other bonds notes, and debentures Feoerai Reserve stock and corporate stock T tailing account securities Federal funds sod and securities purchased under agreements to resell Loans Total (excluding unearned income) & Steel Taps Logan Native PROVO REPORT OF CONDITION CONSOLIDATING DOMESTIC SUBSIDIARIESOF THE U manufacturers representative company in the first quarter of 1977 and in anticipation of improved earnings for the full year The companys per share dividend was 50 cents for the first quarter of 1976, as well as for last quarter The board of directors of the comon May 20 panys principal subsidiary, Northwest According to John G McMillian, the Pipeline Corp , declared a quarterly companys chairman and chief execu- cash dividend of 621k cents per share on tive officer, the decision to adopt the the pipeline companys $2 50 cumula higher dividend rate was based upon tive preferred stock, payable July 1 to the increased earnings recorded by the stockholders of record on June 17 The success of Japanese cars on the European and U S markets Ob The first phase development is to I completed by Sept 1 Other founders include Phil Anderson of a and Jens Traeden, commercial lighting firm, Daniel D Christensen, physician and businessman, and William W Compton, a Directors of Northwest Energy Co voted Friday to increase the regular quarterly cash dividend on the companys common stock from 50 cents per share to 55 cents per share The increased dividend will be payable June 10 to stockholders of record in governments Mr Ballard, 54, will continue as president of the Deseret Division Mr Cartwright said he will continue as a consultant to Warner-Lamber- t, and that he also will pursue other business through a new family corporation, Cartwright Enterprises Northwest Energy Co. Boosts Dividend Major Reasons for Merger said major reasons for the Gyllenhammar merger, still in a preliminary stage, include Weak economic prospects in Western Europe that have caused overcapacity in passenger car manufacturing Alta View. Adult and James Sorenson Mr Sorenson later left Deseret and founded his own phamaceutical company, Sorenson Research Co Rites Start Racquet Club Volvo-Saab-Sca- t it The kind of produce that will be available in June, he said, includes strawherrles, lettuce, radish, peas, snow peas and possibly beets L $400 now Swedish Auto Giants After years of hard work isn started thinking about YOU . . produce license And, he added, the Salt Lake County Board of Health says trucks will have to be clean Heath officers will lie on hand for inspections Truck farming, he pointed out, is for full time for some and part-tim- e others A former psy chology student at the University of Utah, Mr Ames got into truck farmmg three years ago Direct contact between pi viucer and consumer, he said, offers the possiblity of higher returns to producer and lower prices to the consumer not seen beginning Saturday, June 18 Truck farmer Steve Ames and partner Ms Tessie Golata, Draper, said they now have city permission to use the Decks Field parking lot at 13th South and West Temple on Saturdays from 8am to 4 p m Basically, the market" will allow farmers to bring their produce to the lot for direct sale to consumers, he said Mr Ames said he expected 30 or so farmers would be signed for the opening day The cost $5 each to the city for use of the lot Farmers also will have to have a $15 business license and a $25 retail d Armco also produces steel, but the company did not disclose price action on that product line two-tent- farmers market" in these parts for several years will be re instituted in Salt Lake City on stainless steel products Friday, following the lead Monday of record keeping. Live on premises. Home, utilities and salary provided. Age is no barrier if in good health. Call Mr. 2 or Johnson 278-168- 272-545- 2. $71 7 547 000 467 009 Oflfl 4vtnn dnnits TOTAL DEPOSITS IN DOMESTIC AND FOREIGN OFFICES Federal funds purchased and securities sold Tml Bra Mode VC New 1 9 Mfgrs. Sug List " $649.95 'O m crows r cc defrost cce va element brown.ng beautiful blank glass oocr m o ' no " microwave oven au.aOn a groe Deluxe Thprmaoor REDUCTION PRICE Hurry - c0 ip jnt- - a nl S0PO ONE W ' r f1 VO OR IS A ,jnO ' tOR t DOZEN 'os - G.DCEO today 1 jt THIS IS A BONAFIDE BELOW WHOLESALE PRICE" OPEN TO THE PUBLIC - DEALERS DO IT YOURSELF GREAT MOTHERS DAY GIFT! Check our distributor prices kti on all IlHpl Hj 950 Wect 2610 South Salt L'--e Thermador appliances. KITCHEN DISTRIBUTING City, Utah 841 19 thp Wagnor IndJstnal Park In PHONE 8 to 6 i 972-119- Common stock a No shares authorized 2,000 000 b No shares outstanding i 000 000 Surplus Undivided profits TOTAL EQUITY CAPITAL TOTAL LIABILITIES AND EQUITY CAPITAL Average for IS or 30 calendar days ending wth call date BUILDERS HOURS under agreements to repurchase Liabilities for borrowed money Mortgage indebtedness Acceptance executed by or for account of this bank and outstanding Other liabilities TOTAL LIABILITIES (excluding subordinated notes and debentures ) Subordinated notes and debentures INVENTORY REDUCTION 7 tifYMk 7 Monday thru Saturday This Week Only Cash and due toom banks and uvVr Fed funds agreements to resell Total loans Time posits of $100 000 or more in domestic offices Total Fed funds purchased and securities sold under agreements to repurchase Liabilities tor borrowed money sojrifs jrrhad Standby letters of credit Time deposits Of $100 000 or more Time certificates of deposit in denominations Of $100 OOOor more Other time deposits m amounts of $!00 000 Xpn Qfoummit CONDOMINIUM 10 ono ooo no looononono 19 752 Of 00 39 752 ftrt 00 809 1 11, ft or 90 186 544 000 00 667 978 000 00 2 6 Come see our elegant lobby, recreation rooms and furnished models 416000 00 H 156 000 00 479 112 000 00 51 NOW COMPLETED AND BEING OCCUPIED 000 Of 571 OjG 00 44 000 00 771 bedrooms 2 and 3 baths to 2430 sq ft 1200 plans, Underground security parking plus dosed circuit TJ view of front entrance in every Onp two or more Five floor apartment 190 015 000 00 3 191000 00 or more Vice President and Controller of the John Henriksen this Report of hnv named bank do hereby oeciare that Condition is true and correct to the bet of my knowledge and belief JOHN HENR1KSFN Aoril ?9 1977 We the undersigned directors attest the correctness of this liabilities We declare that it has been statiTni of resourcestoand the best of our knowledge and belief is ee"Hned bv us and true and correct ROBERT N PRATT VANWINKLE BiCHARDA A J SCHOENHALS Breathtaking views from individual terraces Look up Main street for the 16 story twin towers ONLY ONE BLOCK FROM TEMPLE SQUARE 2nd North 322-580- & Main on Vine St 1 Open daily noon til six 3-- ZIONS FIRST NATIONAL BANK Where "PEOPLE 2 . mean everything!" - . 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