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Show The Salt Lake Tribune, Saturday. April Stocks Up After Reagans Speech By Marianna Ohe United Press Interna- market some - The Stock Market scored win after New York Stock Exchange a giving up Friday, April 16, 1982 Composite - The basic money YORK NEW nations supply swelled by $7 billion in the first week of April, the Federal Reserve Board reported Friday, but analysts said they were neither surprised nor concerned that it had any long-terimplications One analyst said interest rates could rise if the central bank tightened its monetary reins in response to the monetary bulge, but added it was unlikely the Fed would take such action on the basis of one weeks increase. The Fed said in the week ended April 7, the money supply, known currently as Ml, rose to a seasonally adjusted average of $453.6 billion from $446.5 billion in the previous week In the last four weeks, cash in growth of Ml volume and over the countrer 65,286,990 shares compared with 3.527,940 traded T':.u' sday Toe American Stock g Exchange trader nervousness index gained 0 67 to 274 15 and the price of a about volatile situations in the Falkland Islands and Middle East weakened the rally The Dow Jones in- increased share 3 cents. Advances top8 ped declines among the 745 issues traded Composite 316-21- dustrial average, advance. The New York Stock Associated Press totaled talks were reaching a climactic state Trading was active. Profit-takinand its fifth straight weekly By Christopher Lindsay of NYSE issues traded on all U S. exchanges ment that budget overall, encour- 1 some late-da- y gains Friday as traders got a boost from President Reagans state- moving slowly higher throughout most the session and ahead nearly 6 points at midafternoon, gained 3 81 points to 843.42. The Dow gained 0 48 point for the week Money Supply Swells by $7 Billion agement when he told reporters the budget talks are reaching a climactic stage The Market In Brief tional NEW YORK volume came to shares compared with 3.834.900 Thursday 4.165.145 Dow Jones Ind. 843.42 Associated Press Chart Poor's index rose shares compared with 116 81. Ad- vances topped de- Thursday. The White House and Congress have not yet reached a compromise on cutting budget deficits, but Reagan offered the Standard 500-stoc- k 0 46 to clines & Exchange index 67.20 gained 0.30 to and the price of an the 1,880 creased average share in13 cents. came to 951-49- traded. 3 among issues Big Board volume 55,890.000 45,700,000 traded B 7 17, 1982 The National Association of Securities Dealers NASDAQ index of OTC stocks rose 13 to 182.25 1 On the trading floor. NLT Corp. was the most active NYSE-liste- d issue, soaring 5 to 28 in trading that included a block of 100,000 shares at circulation plus that readily available in e accounts at financial institutions rose at a seasonally adjusted annual average of 5.8 percent from 13 weeks earlier, the Fed checking-typ- 28 V said The rate of increase was slightly above the Feds target range of a 2 5 percent to 5 5 percent increase However, analysts said the week in question is a statistical anomoly, in that the weeks cash supply the month's Social Security checks. NOW account interest pay- ments and tax refunds, among other phenomena. Even with the Fed's seasonal said H Erich Heinemann, a vice president of Morgan Stanley & Co the rejort means very little in terms of substantive ixilicy "It is a reflection of an inability of the satistical art to adequately compensate for a normal buildup of cash balances in early April, primarily in con , Kathleen Seem it v Pacific National Bank in Los ngeles. averred ' It's not a surprise." she said, given the the month far tors aronomist f She said the report's only imssihle impact on the consumer would be of the cooked garbage can transmit a variety of mal and Plant Health Inspection Service Garbage also can help spread tiny microscopic worms trichinae which can infect humans after eating improperly cooked pork. The proposed regulations would carry out the Mussman, administrator should the Fed react to its own report and damp down further on credit That, she said, could lead to further unemployment. but said the Fed was most unlikely to make anv change in poll iv. based solely on Fn dav's figures AIR COMPRESSOR 5 HP Swine Health Protection i t parsed h Congress more than a year ago to Ani- rates higher interest lor Swim'S WASHINGTON (API -The Agriculture Depart department's a Cooper, ice president and senior tax of t em p at ion Low to Cook Swill ment said Thursday it wants to hear from the public on proposed feder-a- l regulations which would require garbage to bo cooked properly before it is fed to hogs Raw or improperly liabilities," he said ' It doesn't reflect anv overt future policy action In the Fed," he sug gested adjustments, 1350 prevent the introduction and spread of foreign animal diseases & Single 3 phase large inventory of sices Financing Available Mussman said the states would have the primary responsibility for enforcing the proposed regulations FHLHEim Pb. 473-084- 5 diseases among swine. "Diseases such as .African swine fever, disease and hog cholera can be spread to healthy swine if they eat raw or incompletely cookod meat scraps containing the vims." said Harrv D Manufacturers Operate at 7 1 . 4 in March By Robert Furlow Associated Press Writer - WASHINGTON US. manufacturers operated at just 71.4 percent of capacity last month, recording their seventh drop in factory use in the past eight months, the Federal Reserve Board reported Friday. The new figures, coupled with the Feds report Thursday that industrial production also has fallen in seven of eight months, gave new evidence that the recession was still holding on as the first quarter of 1982 ended. In a related report, the Commerce Department said Friday that after-ta- x corporate profits fell 7.9 percent to a seasonally adjusted annual rate of $144 billion In the final quarter of 1981. The agency had estimated last month that corporate earnings were down 7.1 percent. The revision was based on later and more complete information. A Clear Decline Robert Ortner, ihe Commerce Departments chief economist, said it now seems clear that the overall economy continued to decline during the January March quarter. Economic activity, as measured by inflation-adjuste- d gross national product, fell at an annual rate of 4.5 percent in the fourth quarter of 1981. And Ortner said Friday that for the first three months of 1982 I see no reason to believe its going to look in total much improved. However, he said the first-quart- er weakness was much more of the latter stages of a recession." That is, weak final demand for goods dragged the economy down at the end of last year, but the decline has been due to cutbacks designed to trim inventories of unsold "characteristic first-quart- er goods. Hope for Indications If inventory liquidation is now slowing, as some economists think it is, it wont take a lot to get flat GNP in the second quarter." Ortner said. In the meantime, he conceded that analysts still were only hoping for indications of an upsome near-terThe latest reports show the turn. economy has not turned up, or at least it had not in March, he said. Lacy Hunt, executive vice president and economist for Fidelity Bank in Philadelphia, predicted the first quarter GNP figure, due to be published next week, will be at least as low as the 4.5 percent rate of decline in the fourth quarter and said perhaps it could be in excess of 5 percent. But. he added: The inventory problem is nearly finished. Its my feeling that there will be a net rise in capacity utilization and industrial production in the current April-Jun- e quarter." "The basics are in place" for such an increase, he said, pointing to recently rising consumer spending for durable goods. Marchs 0.6 percentage-poin- t factory use followed a one-poi- drop in Feb- ruary gain that most economists said was at least partially weather related. The Federal Reserve reported Thursday that industrial production fell 0.8 percent in March. The two reports go since it only stands to reason that if factories were producing fewer goods, they probably were making less use of their manufacturing capacity. The March factory use rate was only slightly above the 71 percent level of January, the low point of the recession so far. hand-in-han- , The new report revised Januarys figure to that level from the 70.6 percent previously reported and revised Februarys to 72 percent from the original 71.8 percent. The March figure for manufacturers is also subject to revision when later figures are available from private businesses. Lowest Since 1975 The factory use rate for producers of industrial materials also fell in March, dropping one percentage point to 71 percent of capacity. That is the lowest level since May 1975, the report added. "Within manufacturing, declines in utilization rates were widexpiead." it said. 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Champlin Petroleum Co., another subsidiary, had fj Slalom Shareholders Hear Annual Report No officer of Union Pacific knows when the recession will end. but slow recovery is expected by the end of the year, shareholders of the firm were told Friday at Hotel Utah. James H. Evans, chairman of the board, noted that Union Pacific Corp. has itself felt the effects of the recession with a drop of 38 percent in first quarter 1982 earnings. But, he noted, the firm has taken action to cut costs as well as other stops II Freestyle and net revenues of $3,981,000,000 income of $160,000,000. Rocky Mountain Energy Co. had revenues of $179,000,000 and net income of $60,000,000 and Upland Industries Corp., industrial development agent of Union Pacific, had revenues of $55 million and net income of $28 million. In 1981, net income was 2 percent higher than 1980s $404.5 million. 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