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Show House Purchase a Solid Investment By Richard Phalon Npw York Times Writer NEW YORK Dollar for dollar, one of the best investments around these days is not a new high technology stock, but the house. plain old Over the last five years, the median te one-fami- ly home has value of the Increased at the rate of 14 per cent a year. That figure does not take into account the advantages of income tax savings generated by mortgage interest or tax payments. home has proved to be The single-famil- y such a good investment, in fact, that speculators have moved into the market, buying and selling houses with the same g instincts with which they trade commodity futures or gold stock. Shut Out of Market A house has always been regarded as an investment For many families, it is the biggest investment they ever make. The problem is that rising values have boosted single-famil- y real-esta- but almost invariably only when a couple's income is upwardly mobile. On the credit side, bankers are required these days to take a working wifes salary into account before deciding whether a couple qualifies for a mortgage or not. the investment cost so high that many people, particularly young people, hac been shut out of the market entirely. The problem has been compounded by rising costs generally. Interest, fuel costs taxes have all escalated and real-estadramatically. The other side of the 14 per cent annual increase in housing values is the much slower rate at which income has been rising, only 8 per cent a year. e That squeeze is forcing to take a many prospective home-buyesecond look at the rule of thumb that says Inal housing costs should not amount to more than 25 per cent of income. Those costs are generally assumed to include both mortgage payments and operating expenses, including taxes. rs te time-hallow- July A beer makers fight over SEATTLE CAP) light is coming to a head in U.S. District Court here. Involved in the name calling are Miller, Rainier and Olympia brewing companies all of which brew the increasingly popular reduced calorie, low carbohydrate beer. The Wisconsin-base- d Miller Brewing claims it had the name LITE first contends in separate legal actions that Seattle based Rainier Brewing Co. and Tumwater, Wash.-base- d Olympia Brewing Co. infringed on its exclusive rights to use the word light to describe the beer. Market Light Miller claims Rainier Brewing infringed on the Miller name LTTE by marketing since last May a reduced calorie, low carbohydrate beer called Rainier Light. Miller asked the court to grant preliminary and permanent injunctions halting the use of the word light by the other brewers. Miller also seeks unspecified damages in the two suits. Bought the Rights Miller contends it bought the rights to the trade name LITE in 1972 from Meister Brau, Inc., of Chicago, which used it as the name of its reduced calorie beer since 1967. Miller claims it then experimented with the Meister Brau formula, improved it and launched nationwide sales of the beer in 1973. By 1976, sales reached four million barrels a year. Use of the word light by other brewers misleads the beer drinking public, Miller contends, because many suds sippers order their light beer without mentioning the name of the brewing company. BIGGEST COUPON DEAL IN UTAH! FOR BUY ONE GET ONE FREE with this coupon pc. stuffed flounder, 1 deviled oyster, 1 shrimp, 3 hush puppies, 1 onion ring, 3Vi oz . chips, choice of slaw or fix SHORE PLATTER . pc. fish, 1 crab, (good thru 72477) "J mimmmimrM 1 1 salad at salad bar tjJ iimX'WfW pMM WHHMmI EelT I I Choice of: I5S Es i STORE . . PiTj STORE 3 633 Washington Blvd., Ogden STORE 2 4500 So. (near M5), S.L.C. 1 2323 East 7000 South. S.I.C. 943-124- for 59c (save 59c) 1 Strawberry Shortcake . 3. Coconut Cream) Boston Cream Pie 4. Chocolate Mint flood thu (7M77) 0 268-660- 621-728- 2 Page 6 the term Thursday July 21 Thru Sunday July 24, 1977 H The level of the Great Salt Lake was 4,199 95 feet 15 at the Salt Lake Boat Harbor, the U S Geological Survey reported. That compares with 4,200.35 feet two weeks previously. The drought has retarded water flow into the lake. A year ago, there was much concern that yearly gams in lake level posed a threat to industries using lake waters for raw materials. A level of 4,205 feet was deemed highly critical since it would then require a major rebuilding and heightening of dikes that were planned and built when the lake level was much lower. The apprehension triggered many discussions and meetings on methods alleviate or stay the increase. These included cutting the Southern Pacific Railroad causeway to allow more water into the north arm, as well as pumping lake water into an artificial lake on the western desert to speed evaporation. on July Lite Beer Fight Comes to Head PIONEER DAYS SPECIAL 3-8- Level of Lake 22, 1977 Section E Need Two Paychecks Many couples are putting off having children these days precisely because they do need two paychecks to carry a honse, or because they need more time to accumulate enough money for a down payment. A sizable down payment is not a bad idea. It helps cut monthly mortgage payments to more manageable proportions, and opens up the possibility of taking over an exisiting mortgage. Widening Incon.t- - Gap Though mortgage money is plentiful enough, the widening gap between income and bousing costs has made many bankers chary of accepting down payments of less than 25 per cent In some cases, a bank will still settle for as little as 10 per cent down. crap-shootin- Drought Drops Friday Morning, Before the advent of the Equal Credit Opportunity Act, many bankers preferred to play a cautious game. The almost automatic assumption was that the wife would soon become pregnant and quit work, leaving only one paycheck to meet the overhead. cost-incom- Today in Business Salt ake Sribunf 'Bnsinrss Frontier Air Cargo Jumps Special to The Tribune Frontier Airlines carried 4,643,000 DENVER of cargo in the second quarter of 1977, a 15.1 per cent increase over the same period last year, the company announced. In the first six months of 1977, Frontier carried of cargo, 17.5 per cent over the 8,982,000 first six months of 1976. Cargo shipments include freight, mail and express carried on Frontiers routes between more than 100 cities in 17 Western states and Manitoba, Canada. ton-mil- es ton-mil- es Acquires Sharp Electric Thomas L. Felt, former vice president of Felt Electric Co., Salt Lake City, has acquired Sharp Electric, 56 E. 400 South, from J. Vernon Sharp. Sharp Electric was founded in 1934 and has been at its present location for three years. Mr. Felt has been in the electric business for 27 years. G. Hardy Felt continues as president of Felt Electric which has moved to new quarters at 165 Regent St. Fuel Symposium Dated Special to The Tribune PRICE Experts in mining technology will address participants of the sixth annual College of Eastern Utah Fuel Symposium here Aug. 13. New advances in mining technology will be announced and discussed by mining officials from throughout the country, acocording to Kent Eden, director of CElTs mining program. The symposium will be an open industry briefing, overviewing selected research programs of the Bureau of Mines, Mr. Eden said. 1 REPORT OF CONDITION REPORT OF CONDITION of "Capital City State Bank" of South Salt Lake in the State of Utah at the dose of business on June 30. 1977. ASSETS Cash and due from banks U.S. Treasury Securities Federal funds sokl and securities purchased under agreements to resell in domestic offices a. Loans, Total (excluding unearned income) b. Less: Reserve for possible loan losses. Loons, net Bank premises, furniture and fixtures, and other $ 53400 100.000 .. 1,950.000 $833,000 $ M00 827,000 assets representing bank premises .. Other assets 205,000 34,000 TOTAL ASSETS Coffee Prices Dive .$3,169,000 LIABILITIES Demand deposits of individuals, partnerships. and corporations. 983400 Time and savings deposits of individuals, partnerships. and corporations. 704400 51 400 Deposits of United States Government 551X000 Deposits of States and political subdivisions Certified and officers' checks 39,000 TOTAL DEPOSITS IN DOMESTIC OFFICES $2,327,000 1 a. Tefal demand deposits ,07X000 b. Total time and savings deposits 1,254400 TOTAL DEPOSITS IN DOMESTIC AND FOREIGN OFFICES 2427,000 25,000 Mortgage Indebtedness Other liabilities M0Q TOTAL LIABILITIES (excluding subordinated notes and debentures) $2,360,000 EQUITY CAPITAL Common stock a. No. shares authorized 100,000 b. No. shares outstanding 61,000 6)0,000 Surplus Undivided profits 122X100 77,000 TOTAL EQUITY CAPITAL 909,000 TOTAL LIABILITIES AND EQUITY CAPITAI .$3,169,000 MEMORANDA Average for 15 or 30 calendar days ending with call date: a. Cash and due from banks .. .. 153,000 b. Federal funds sokl and securities purchased under .. 1,950,000 agreements to resei I c. Total loans 570,000 d. Time deposits of $100,000 or more in domestic offices 450,000 e. Total deposits 2407400 Time deposits of $100,000 or more in domestic offices: a. Time certificates of deposit in denominations of $100,000 or more 550,000 Number of operating branches os of call date NONE I. Ann Casklnette, Controller, of the abovetamed bank, do solemnly swear that this report of condition is true and correct, to the best of my knowledge and belief. ANN CASKINETTE Cor rest Controller Attest: JACK B. NEILSON NORTON PARKER JOHN RAPP State of Utah, County of Salt Lake s$ Sworn to and subscribed before me this 7th day of July, In Futures Market LONDON (UPD Coffee future prices plummeted by about $510 a ton on die London terminal market Thursday to their lowest levels since early July. The bottom seems to have fallen out of the market, a London coffee dealer said. Its frightening to think how its going to open Friday before the weekend. The July futures contract on the London market lost roughly $510, falling to $3,655 a ton. Against a background of declining retail coffee sales and unusually favorable weather in Brazil, the London market had been propped up in recent weeks by rumors that producing nations were buying to support prices and concern over a tight supply situation on the New York market. But hot these factors disappeared Thursday, and one dealer said: Things have been chaotic today, with everyone calling sell. In New York, prices for green coffee in the cash imarket dropped sharply in early trading and depressed futures prices, dealers said. , i Directors 1977. DAPHNE ROBINS Notary Public STATE OF UTAH Department of Financial Institutions I, W S. Brlmhall, Commissioner of Financial Institutions, do hereby certify that the foregoing is a true and correct copy of the statement of the above named bank, filed in this office on July ft, 1977. Ahousef ulof cool comfort W. S. Commissioner of F Inane fat institutions 13,500 BTUHr. capacity 9.8 E.E.R. fan Energy Saving Options (Intermittent fan and FIRST SECURITY Treasury Securities Obligations of other U S. Government agencies and corporations Obligations of Stotes and political subdivisions Federal funds sold and securities purchased under agreements to resell in domestic offices (a) Loans, Total (excluding unearned income) $50,738400 00 U for possible loan losses (c) Loans, net Direct lease financing Bank premises, furniture and fixtures, and (ExhaustFresh Air) Slide-ochassis other assets representing bank premises ut Other assets TOTAL ASSETS COMFORT GUARD' TOLL-FRE- E COOL-LIN- TELEPHONE Dial control Adjustable thermostat partnerships, and corporations Deposits of United States Government Deposits of States and ootittcal subdivisions Certified and officers checks Subordinatednotesanddebentures eouity Capital NATIONWIDE TECH-CAR- E SERVICE ORGANIZATION SERVICE A TECH-CAR- SALT LAKE CV BEECH ADAMS 1818 SOUTH STATE BETTER LIVING APPLIANCE 3476 SOUTH STATE BIGLER S FURNITURE 522 SOUTH STATE AUTO DOWNTOWN VAUFYFAiH COTTONWOOD DELTA I Ta lt LOGAN HOOntR appliance MAGNA PAFANIKOLA3 auto r & DUCHESNE AOHL S MARrl PAVSON PAYSON MIDVALE MOS jMOWh PRICE A M'NMt fct T Nk l V W FURN'Tvm PPOVO URN1 r NEPH1 URNiTwiHi iOHbfc'l S - AAA Ifi.lRATfC TV 6 WAKErtLu.L b f A sHl(,)N SALINA CAHPtT SONS & GALwERV iNL FljRN'T Y Correct Attest S SPRiNOVTLi VNDLRSi N E S Hf ST GEORGE ARHOWHtAD ,) Wt "T t i. M ROOSEVELT VElScNS TURNlTURt Ac & f HD vernal jRNfSHiNu , Vjt Of TRE MONTON MA b oMl 'THEM TOOFl RICMHFL0 iRl TURNfTURL FtJHNf MVTUHr R L SALEM Mt L HANKS SPANISH FORK V MONROE 3474,000.00 600,000 00 523,000 00 50,7)5,000 00 271,000.00 828,000 00 1,216,000 00 64409 ,000 00 13,763,000 00 26.097,000 50 000 14,772,000 480, 0U0 00 00 00 00 1,200,000.00 .... ROY A APPuanE ZCMI f URN1TUHE MOA8 HELPER MUTUAL OREM RAVI NIELSON MANT1 MaNTI home SUPPIV AN M4lL OGDEN BUTT S MUSIC DAVIESS APPl JANCf Rt AO BROTHERS ZC ML MILFORD MFBFfi C Ml HUTCH S BOUNTIFUL CHARI E FULLER CLEARFIELD Bari oyy FijRsn JHL Dtr Kf WESTERN AUTO LEM Shah DOUG S TV 4 APPLIANCE 4377 SOUTH STATE MURRAY 2075 WEST 3500 SOUTH GRANGER Z MCtXXXiAL CITY bHOWKASE CARLOS SMITH SHOWKASE 4677 HOLLAOAY BLV0 VILLAGE TV 6 APPLIANCE 776 NORTH REDWiXX) RD 4000 SOUTH REDWOOD RO - BRIGHAM Ntu KEARNS CEDAR CITY NOHIHtAST FuRNTTURE SURE APPLIANCE 153 WEST 9TH $(XTTH aik. BLAND! NG HUNT b WFSTERN 483,000 00 total liabilities is Available at One of These Fine Dealers IN 00 00 Common stork (a) No shares authorized 100 000 (b) No shares outstanding 100,000 (parvaiue) $ 1,000,000 00 3,000 000 00 Surplus Undivided profits 876 000 00 TOTAL EQUITY CAPITAL $ 4,876,000 00 AND EQUITY CAPITAL ... $64,809,000 00 MEMORANDA Average tor 5 or X) calendar days ending with call date. Cash and due from banks 3,461,000 00 Federal funds sold and securities purchased under agreements t0 resell 1.167,000 00 total loans 53.224,800 00 Time deposits of $00 000 or more m domestic offices 19 8401)00 00 Total deposits 56.587,000 00 Federal funds purchased A securities sold under agreements to repurchase 1,65X000 00 Time detosit of $100 000 or more in domestic offices .... t9 840,000 00 Number of operating branches as of call date . 4 I. Jav D Knudsen. Cashier, of the above named bank, do solemnly AFF IRM that ttus report of condition is true and correct, to the best of my knowledge and belief JAY D KNUDSEN Whirlpool franchised and trained service representative near you if your Whirlpool appliance ever needs service for information about operating, maintaining or servicing your Whirlpool home appliance. $ 3,978,000 3,344,000 TOTAL DEPOSITS IN DOMESTICS OFFICES $55,162,000 00 15 206,000 00 (a) Total demand deposits 39.956,000 00 (b) Total time and savings deposits TOTAL DEPOSITS IN DOMESTIC AND FOREIGN OFFICES 55.162,000.00 Federal funds purchased and securities sokl under 2.000,000 00 agreement to repurchase in domestic offices Other liabilities 14714U040 TOTAL LIABILITIES (Excluding subordinated notes and debentures) 58.n3.000 00 E' (In Michigan uabiliYies Oemand deposits of Individuals, partnerships, and corporations T me and savings deposits of individuals. AIR CONDITIONER BIG-CAPACI- S. (b) ay hirlpool ASSETS Cash and due from banks ay a STATE BANK REPORT OF CONDITION OF "FIRST SECURITY STATE BANK" LAKE CITY m the State of Utah at the close of business on June of SALT 30. 1977 thermostat) air direction air changer control with BR1MHALL URNITUIU ASHTON BROS CO F W CHAMP M E ENGEMAN RAYMOND G WILLE Directors of Utah C nunty of 5ai Lake ss sworn to and subset bug beto'e me this 13h day of Juv, 1977 BILLIE MILl FR Notary Public ATE OF UTAH rV"tartmnf of Fman ial Institutions C B Quinn, ehief Examiner of Institutions do hereby citify that the foregoing is a true and correct copy of the above named bank, fiiid m this office on Jury U 1W7 C B QUINN Chief Examiner of Financial Institutions Re port op cowomow CONSOLIDATED REPORT OP CONDITION of WALKER BANK & TRUST COMPANY of SALT LAKE, and Foretan and Omnllr SuLmJWi les. af Hid clow of business JUNE 30, 1971, a slate banking institution organized and operating under ttw banking laws of this State and a member of the Federal Reserve System. Published In accordance with a celt made by the State Banking Authorities and by the Federal Reserve Bank of this District. ASSETS Cnsh and due from banks. $ 7S,BS6,000 00 OS. Treasury securities 36,890,000.00 Obligations of States and political : 6, Fedsii-::::::::::::::::::Trading account security a. Loans, Total (excluding unearned income) $357,965,000 00 b. Less: Reserve for possible loan losses 4 2,396,000.00 c. Loons, net Bonk premises, furniture end fixtures, end other assets representing bank premises Reel estate owned other then bonk premises, Other assets T0T ASSET$ S X 995,000 00 355,569,000.00 11,522,000 00 ,000 00 8,722,000 00 $558,038,000.00 UA8.UT.es Demand deposits of individuals, partnerships and corporations Time end savings deposits of individuals, partnerships, and corporations Deposits of United States Government Deposits of States end political subdivisions Deposits of commercial banks Certified and officers' checks TOTAL DEPOSITS IN DOMESTIC OFFICES 41 72,043J)OOvOO 249,344,000 565400 53,558400 13464400 6,984400 00 00 00 00 00 $495,558400 00 a. Total demand deposits $197,561 ,000 00 b. Total time and savings deposits $297,997400.00 'TOTAL DEPOSITS IN DOMESTIC AND FOREIGN OFFICES... 495,55040040 Federal funds purchased and securities sold under agreements to repurchase in domestic offices 15,44040000 Other liabilities for borrowed money 7400 000 00 151400 00 Other liabilities 3497400 00 TOTAL LIABILITIES (excluding strtordineted notes end debentures) Subordinated notes and debentures EQUITY CAPITAL $552,046,000 00 3 2UUU0 ii Common stock a. No. shares authorized, 1,259,200 b. No. shares outstanding, 1,259,200. $6.25 (par value).. $ 7470, 00 Surplus. 12,130400 00 Undivided profits 11 cca xx ft) Reserve for contingencies and other capital reserves 1236 000 00 TOTAL EQUITY CAPITAL ' TOTAL LIABILITIES AND EOUlfY CAPITAL 64&OM0O0 w MEMORANDA Average tor 30 calendar days ending with report date. a Cash and due from banks mvvm cm b Federal funds sold and securities purchased under grrenwnt to reMlI 6,433,000 ! C Total loans ... 254.3ks ttxi til d Time deposits of $100,000 or more in domestic offices 93 631 400 00 e Total deoosits In domestic end foreign offices 7 48$!654U040 f Federal funds purchased end securities soid under to agreements 20.19A nm m repurchase g Other liabilities tor borrowed money 23X0HWM 0l to ... Standby letters of credit outstanding os of report date Time deposits of $100,000 or more in domestic offices Outstnding as of report date a. Time certificates of deposit In denominations of $100 OHO or more oisittn on I 90 ?Ti fmn an I. ROBERT R BRYANS. CHAIRMAN OF THE b6aRDA CmiFF EXECUTIVE OFFICER of the above-name- d bank do hereby declare that of condition is true to the best of my knowledge and belief ROBERT R BRYANS. Chairman of the Board and Chief Executive Officer We, the undersigned directors, attest the correchwst o this of condition and declare that It has been examined bv us and to TODW,W our knowledge and belief is true and correct M D BORTHICK GEORGE WINDER A. B, KESLER, JR Directors STATE OF UTAH this report rmrt Department of Financial Institutions S hereby that the foregoing Corn7SKrr' is a true and correct copy of the statement of the certify atovw named henkfiiMt In this office on July 19. 1977 W S BRIMHALL Of Is! Lsts ("V. iwom end subscribed before me this 8th day CnmreKmlwr of July, 1977 DIANNE H ZITO Notary Public |