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Show irrir'rhyiWn Italy 3 TheSalt Npw York Stock Exchange UP Christopher Iandsav Associated Press Writer The nation s an lines continued on Thuisdav to report poor financial results for the first three months of p2 as they struggle with tare wars and recession Delia Air Lines the largely non union industry profit Under that had been viewed as an example of how to suivne deregulation, reported Us hist iiiarierly loss in 25 years $45 7 million on nitrations Trails World Airline's reported a pre tax loss of $110 3 million compared with a $71 8 million first quariei loss a year ago That produced a net loss ot $102 7 million for Trans World Corp . whose other holdings are include Cntury 21 real estate. Hilton nternational and food services. Be VOLUME 957 64,470,000 " shares DOWN 469 NW. S.E. Index 0.78 67.49 S &P. The holding company reported 1081 first quarter. 47 Asootifl Pct5S t By Marianna Oho Vnitfd Press International NEW YORK Die stock market stager) a strong, broad based rally Thursday as rashladen institutional investors moved in on hopes the recession is bottoming out and a budget compromise is nearing. Trading was the heaviest in a month The Dow Jones Industrial Average, rising steadily throughout the morning and ahead m.ae than 10 points in the early afternoon, came slightly off its peak to gain 0.70 points to 853.12. It was the largest gain since April when the closely watched blue chip indicator soared 10.47. The Dow added 2 80 points Wednesday, lost 5.52 Tuesday and gained 2.66 Monday. It has climbed nearly 55 points i.n the past 52 week? The New York Stock Exchange Index gained 0 78 to 67.1!) and the average price of a share increased 32 cents. Standard & Poor s k index rose 147 to 117 1!) Advances topped declines among the- 1,881 issues traded. Big Board volume was 64. 170, Of 10 shares compared with 57.820.tKK) traded Wednesday. It was the heaviest turnover since March 23 when 67.120.160 shares change d hands. Analysis said the- markets enormous pent-ubuying power was underlined by the 10 percent of NYSE short interest. Short jump in interest is the number of borrowed shares sold in expectation that prices would go down. Traders appeared optimistic that a compromise would be reached in negotiations to draft an alternative budget acceptable to Congress and the White House, although some doubts persisl U S commercial airlines lost $.5(K) million in 1081. and this year's loss may double lhat, the Air Transport Association says Match Discounts hub is Atlanta, said the whose Delta, recession, "uncontrolled deep discount fares and ticket giveways hy others, factors outside its control, contributed to the poor first quarter results. It said it had to match the discounts to remain competitive. Roliert Oppenlander, the airlines senior vice president for finance, said 72 percent of Deltas passenger miles were flown on discount tickets in the quarter ended March 31. its third fiscal quarter, compared with 57 percent in the first three months of 1981. loss amounted to $18.3 Delta's after-tamillion on revenue of $818.8 million, compared with after tax income of $27.9 million, or 70 cents a share, in the same quarter a year ago. Operating expenses were $927 1 million, an 8 percent increase. 1 c.Ul e to be ippcnlandcr said optimistic atMit the Inlin e m prevalent on Capitol Hill. By Lorraine Ck how ski Associated Press Writer Special to The Tribune The Amalgamated Sugar Co has reported a slight decrease in revenues tor 1981 but a jump in net inc ome hy nearly 50 Mrcent. The annual meeting of the firm wa hold here Thursday at the Ramada Inn. I :' .. ''rt Glen Snarr I Auard Recipient Reports Revenues The firm has reported revenues for 1981 of 744. (XVI m 1080. Net $3.54.221,000 as compared with incomj for 1981 was $.3.3,139.000 compared with Snarr G. To Be Honored $17,708.IXH1 with a $5 25 Per dividend declared. Shareholders equity per share in 1981 is $59 95. This compares with net income per shaie in 1986 of $8 78, dividends of $3.40 and shareholders equity per share of $48.83. share net income is $16.37 for Utah Advertising Fed oration has named I. den Snarr to receiv e its annual Silver Med.il m recognition of "a lifetime service dedicated to Pic highest radii ions ol the industry " The chairman and chief executive officer of Dav id V Evans Inc Advertising and Public Relations, will get the honor May 12 at a noon meeting of the federation Penning, chairman, told the meeting the firm is a producer and seller of sweetners: Ixitli sugar and fructose He noted the price of sugar is now determined by world demand and. for that reason, the price has fluctuated a great (leal Weather a Factor We had dandy prices in 1974 and 1975 and 1980 and 1681 and some bad ones in between." he said Weather also affects their operations as well and the number of farmers willing to grow sugar beets. In the annual report. Mr Benning said "company earnings experienced (since 197P have strongly suggested the need of examining other opportunities . Hotel 1 'tail NEW YORK - CBS Inc an nounced Thursday that it has signed a letter ol intent to acquire Ideal Toy Corp whose suecess with Rubicks Cube returned it to profitability and restored its leadership role in the ten in dustry The transaction was valued at $58 million. Thomas M Kirwan. president of CBS Columbia Croup, and Lionel A. Weintraub, chairman and chief executive of Ideal, said CBS will pay $11.85 a share for the 3 9 million out standing common shares of Hollis, N Y based Ideal. , With some $62 million annual billings, Evans ranks among the top percent of the nation's advertising firms Evans has offices in I, os Angeles, Sin Francisco. Seattle. Portland, Pittsburgh and Atlanta. Mr. Snarr joined the agency to work on a national public informa-- l o n and p ro g ra m Washington, D C.. lobbying campaign supixirtmg De-ive- i River Colorado Project He was named president of the agency in 1672 and chapman of the board in 1674. inining Evans, w as city editor Bcf-ii- Snan M r and executive of eq.inr the news Deseret u V, Mr p.jt a ' nuf Kii i nhuti t to m.'iLMinrs mKiMiiess Week. (iini,n REPORT OF CONDITION n Salt Lake R E PORT OF CONDITION ol 'Guarrt-TStAtP pane, r itv Utah 84 18 m the State ot Utah at the close of busmens on Afircr 31, I9H? ASSETS and doe from depository institutions Federal Reserve stock and corporate stv k ederal funds sold and securities purchased under agreements to resell a Loans, Total (excluding unearned $1 Car-- .705,000 00 51,000.00 F 815.000 13.1 4X000 00 income) b Less Allowance tor possible loan 19 000 00 losses c I oans, Net and Rink premises, furniture fixtures, and other assets representing bank premises Other assets TOTAL ASSETS LIABILITIES Demand deposits of individuals, partnerships. and corporations Time and savings deposits of individuals, and corporations Certified and officers' checks .. 791 00 11?. 000 00 168.000 00 5.975,000 00 partnerships, Total Deposits a Total demand deposits b Total time and savings 660,000 00 2.982,000 323,000 3.773,000 00 00 00 000 00 deposits 87,000 00 3 totalEQUitycapital TOTAL LiABU iTlfcS AND EQUITY CAPlTAi 00 000 00 900.000 00 POO Siho'us profits and reserve for contingencies and other capita' rest-'ve- 860.000 .. .. 4ISOOOOO 2H5000 00 5 975.000 00 memoranda Amounts outstanding as of report date 92 000 00 a Sfanoby letters of credit, total b Time certificates 0 f deposit in denominations 300,000 00 of SMO.OOOor more A or a ge for calendar davs ending with report dae 1697 000 00 a Casn and dure from depository institutions b federal funds so'd and securities purchased under 1322 000.00 agreements to reset! 3.052.000 00 c Total loans d Time certificates of deposits in denommat nns of 640 000 Oh liuO (kiO or more 6 367 000 00 Total assets Kathryn A Srhenk Vmp President and ofCashier of the condition is true above ndrtwi bank do solemnly swear that tn s report arid correct, to the best of my knowledge and belief KATHRYN A SCHENK Vice President & Cashier We rne unoersiQned directors attest the correctness of th'S report of condition and declare that it has heen examined bv us and to the best of nur knowledge and behef has been prnpared m rontomnance with tbe instructions Issued bv the Bna"d ot Governors of the Federal Reserve System and the State Banking Autnority and s trije and correct Mf RVYN B ARNOLD DONAt D O JOHNSON DAN P MERCER Suspends Trading Ideal closed Tuesday at $11 375 a share on the New York Stock Exchange Ideal stock reached $12,625 a share at midday Wednesday before trading was suspended at Ideal's request. or REPORT SALT I AK L March 31. Wft? 0 10 A. M. Directors Corner 3th East & 21st So. 020 See column 1 Classified for Detoils t ss of Utah County n Sait I ake Sworn to and subscribed before me in.. TfHh dav of April 198? LYNN J OLSON Nn'ry Public CTATF OF UTAH tment of F mannal Institutions Avon T F ranris Assistant Chief p xamutpr an hereby CPHifv that the i'iuoimq is a trim and correct ropy of the statement o the above Urt'ik, filed in this office April 15 igR; sami-AVON T FRANCIS Asst Chief F naminer of F mane iai Institutions faatn i i REPORT OF CONDITION CONCH T ion OE COMMf RClAL SECURITY RANK CITY m the $Lte of Utah at the nose ot business on ... 111 to bins million in first quarter, and $iv(8 million in the fourth quarter of 1681 Mr Gi.iein said the company confident that an upswing in the economy, whn h he said is "more uncertain than ever." will fuel a Hercules recovery. He xnnted out that company operations profits i cm, tint'll relatively steadv during the six months between 1981 and March. 1982, an OctolvT, indication of the success of the corporation's goal to "mminue earnings S US Treasury Securities Obligations of other U S Government agencies and corporations Obiigationsof States and political subdivisions Corporate stock Federal funds sold and securities purchased under agreements o resell m domestic offices a Loans. Total (excluding unearned 366 fmo (Yi 495 0u0itf 36 M ass ovi no 66 it. non on volatility throughout the peaks and troughs of a business cycle Opel aling profits tallied $29 7 million during the first quarter and $Jl(t 7 million during 1981's fourth quarter, he said $305 643 000 00 income) 2.5UO.OOOOO b Less Reserve for possible loan losses c Loans, net 303 04,3 000 .. .. Bank premises, furniture and fixtures. IS. 618. 000 and other assets representing bank premises Real estate owned other than 3 ?o nno hank premises Other assets 12.06 7 000 TOTAL ASSETS IS36.60S,000 LIABILITIES Demand deposits of individuals, partnerships. ana corporal ions mo.3)0 ooo Time and savings deposits of individuals. ..... .... .... partnerships, and corporations FORECLOSURE FREE SEMINAR 126 nun no 00 .34. OOP (VV .... 00 00 no 00 00 HOW TO 00 166 TAKEOVER LOW INTEREST LOANS BUY FOR DELINQUENT PAYMENTS BUY WITH LITTLE OR NO CASH 446,28 000 00 i I8.4fli.nm 00 327.886,0)0 00 7 U46. 287.000 ANDFOREIGNOFFICES Federal funds purchased and securities sold under agreements to repurchase in domestic offices 4X87 000 00 00 ... Other liabilities for borrowed money in, non no 4?9.ooo 00 Mortqaue indebtedness 5 212,000 00 Other liabilities TOTAL LIABILITIES (excluding 495,815.000 00 subordinated notes and debentures J 2 S23,0X) 00 Subordinated notes and debentures CAPITAL EQUITY Common stock 2,625 000 00 a No shares outstanding (oar value) 2.6,500 000 00 Surplus 10.142,000 00 Undivided orofits TOT AL EQUITY CAPITAL 38,2ft7,(O0 00 00 $536,605,000 TOTAL LIABILITIES AND EQUITY CAPITAL MEMORANDA Nonn of credit letters Standby outstanding V Number of operating branches as of call date I. Richard of the above-nameK. Hemingway, hank, do solemnly affirm that this report of condition is true and correct, to the best of my knowledge and belief. ... Correct record." 6:00 P.M. LITTLE AMERICA HOTEL HEMINGWAY JAMES E. FAUST DAVID E. SALISBURY ROBERT H BISCHOFF Flagstaff Room Directors By: HUNTER CHAMBERS C nuntv of Salt Lakp sx Sworn to and subscribed before me this 13th day of April, 1982 CAROL LUND Notary Public STATE OF UTAH Deoartmert of Financial Institutions I, Avon T Francis, Assistant Chief Examiner of Financial Institutions, do hereby cerify that the forgotng is a true and correct couv ot the above named bank, filed in this otnee on Apru in, 192 AVON T FRANCIS Asst Chief Esammer INVESTMENT GROUP 649-938- This advertisement is neither an ntfnr tn sen nor sniiarthnn marie only by the Official Statement The first Kmart store opened in 1962 in Detroit, and Utah stores are joining in the 20th anniversary sale. sale The stores are now involved in a three-weein which some 60 million transactions are expected Before 1962 the company operated more than 7ixt Kresge variety stores and recorded sales of $426 million. In fiscal 1981. Kmart Corp. had revenues ot NEW in il 24,1982 Times 12:00 Noon K State of l Itah. APRIL SATURDAY, Attest RICHARD Kmart Celebrates 20th Year BUY FORECLOSURE PROPERTIES 284 416 000 00 000 00 so 6A9 ono 00 4. 'as 000 JO 5.H2 0UU00 Deposits Of United States Government Deposits of States and political subdivisions Deposits of commercial banks Certified and officers' checks TOTAL DEPOSITS IN DOMESTIC OFFICES a Total demand deposits b Total time and savmqsdeoosits. .. TOTAL DEPOSITS IN DOMESTIC He noted that the firm has become involved in wheat and. in 1975, com wet milling. "Consequently, the company has in the last year given considerable study and pursuit to a solution to the feast or famine experiences of the last seven years," the report says s HOW TO BUY ASSETS Cash and due from hanks nf or 0 531-752- 9 offers to pu'chase these Securities The offering is ISSUE opinion of Runt) Counsel hatod upon oiiMioq statutes present federa income taxation regulations court deovsns nd intemst rulings nn the Series Bonds is Riampt tram k HOLY CROSS HOSPITAL $16.5 billion. OF SALT LAKE CITY Founded in 1899 as the S.S. Kresge Co . Kmart Corp. is now the second largest general merchandise retailer in the country. Stores are now in all 48 continental states, Canada and Puerto Rico. Today the Kmart private label has been .joined hy national brands as well. Beginning with thus year's season, many stores will offer Jonathan Logan Owner and operator ot the hospitals t,mq financed by the Bonds described below and a mpmbpr hospital ot Ho:y Cross Heahh System Corporation hark-to-scho- womens sportswear. REPORT OF CONDITION REPORT OF CONDITION of EMPIRE STATE BANK" of 14? t.v,t South, Salt Lake City, Utah, in the State of Utah, at the close of business on March 31, 1982. ASSETS 9J1 (YY) 00 $ Cash and due from banks U S. Treasury Securities Obligations of other U S. Government agencies iho 0d0 and corporations 25.000 Obligations of States and political subdivisions 0,000 Other bonds, notes, and debentures Federal funds sold and securities purchased under agreements .900,000 to resell in domestic offices 75, (XYJ 00 $7,800,000 Salt Lake City, Utah West Jordan City, Utah Hospital Revenue. Refunding and Improvement Bonds, Series 1982 (Holy Cross Hospital Project) Hospital Revenue Bonds, Series 1982 (Holy Cross Hospital Project) EARN UP TO 90 Date. April IS, 1S82 a. Loans, Total (excluding $7,757,000 00 unearned income) b. Less: .Reserve for possible 220.000 00 loan losses 7.8.37 000 00 Loans, net Bank premises, furniture and fixtures, and other assets 1.91? 000 on representing bank premises 564 nY) on Other assets $13.374, 0)0 00 TOTAL ASSETS LIABILITIES Demand deposits of individuals, partnerships, $ 3.431 000 00 and corporations Time and savings deposits of individuals, partnerships, 6.464,000 00 and corporations 1.4fYUYl 00 Deoositsof States and political subdivisions 149.16)0 00 Certified and officers' checks TOTAL DEPOSITS IN .. a. Total demand deposits b. Total time and savings deposits TOTAL DEPOSITS IN DOMESTIC AND FOREIGN $9,500,000 on 00 00 Interest Payment Date Due: March 1 1, Sept 11V 1982 as follows: TAX-EXEM- $ 1.434.000 on $ 3 680.000 00 $ 7 854.000 00 OFFICES Other liabilities for borrowed monev .. .. Other liabilities TOTAL LIABILITIES (excluding subordinated notes and debentures! EQUITY CAPITAL Common stock a No shares authorized, 100 000 b No shares outstanding. 59. QUO nar value) 11,474 ono w oofi non 00 1?4 too 00 $12 558 000 00 $ 600 000 00 Note S?, 390. 000 o! serial bonds and S6 570 0C0 nl term bonds in Salt Lake Senes and S7.455.30U ot term bonds in West Jordan Series not being reotteed lor 10 years callable on or Redemption after March t, 1997 at IP?. March 1. 1993 at 101V,. March 1 1994 at 101. March 1 199b at 100V March 1, 1996 a 100 Denominations $5 000 in coupon or fully registered lorm ... RESTAURANT AUCTION Sat., April 24th p Giaeco blamed tin sales profit (Imp oil ' the mapir bii mess cuntt actum which began m September. I'M and has eoiilmiied into l'i.s2 our lower sales and profits for the quartet were not unexxetei!. particularly view of tile i cent d hrst quariei- ol l'lxl The company rcxirted net income of $71 6 million compared to $12 9 million m the first quarter. 1981 Net sales tor the period were $6J6 million, compared ' to cope with the problems of an uneven earnings DOMESTICOFFICES 2,982.000 00 other liabilities TOTAL I ARIL IT IES (excluding subordinated notes and debentures) EOUITY CAPITAL Common Stork 200.400 a No shares authored b No snares outstanding 200 000 4 .00 ( oar value) AH 3.124.000 00 quarter ol 1681 Hercules President 1 ?00 m the 1981 A H I it in 1980. Sluggish Economy' Elnliticrs chairman and chiet executive, blamed the sluggish national and the continued pi olitei alien ol 0 disi oiirl below pneing bv m.iov ol our compelilots Olcn Rvland. Ideal and Gabriel Industries have complimentary product CBS' Kirwan said lines," games, including Erector and "Putting the two tngetlicl would Tinkcrtov construction sets, and create a wt II rounded, higlilv ( Mbcllii xtreategy board games competitiv e toy business Gets Boost "Two other attractive aspects Ideal's business got a boost last of the merger arc Ideal's year from the imputin' Rubik's worldwide operations, which Cube three dimensional pu'li. would allow the integrated Gab which added nearly $66 million to nel and Ideal prodmt lines as the recently announced sales This year Ideal is reintroducing the Shirley Temple video games license troni Bally to develop sig doll, which it first introduced m Manufacturing 193-nifiennt international distnbu t Ideal earned $19 million in ion and secondly Ideal's "modern on sales of $217 million manufacturing facilities P)S1 Id al has operations m Europe, compared with a loss ot $15 5 million on sales of $141.4 million Hong Kong and Australia and a the previous year joint venture m Canada Amalgamated Sugar Income Up OGDEN I mill manufactures and markets Child Guidance infant and pro school toys, Gabriel toys and Ssvrelens Report y Hercules toe Thursday rexirtcd igiiil leant dei teases in company prie Ills and sales during he first quartern) 1682. compared to the company's re curd selling profits during the first CBS Agi ees to Acquire ideal Toy full-far- mid-Apr- MTcenl in ! oiisiimpliori i the mime industrv Under the proposal. Ideal will be merged into a wholly owned unit of CBS. Earlier this week CBS, which has been trying to expand its toy business, announced that it plans to manufacture video games and game lowered Yield cartridges through a license with Oppenlander said the shift in the mix of Bally Manufacturing Corp. and discount traific lowered the Three major Ideal stockholaveraged yeild by 18 percent for the quarter and cost Delta about $84 million in passenger ders, who together own alxmt 16.1 revenue percent of Ideal's outstanding to vot e their For the first nine months, Delta said its net shares, inhave agreed favor of the merger, the loss was $2 2 million compared with a net of shares said. The merger is $98.9 million in the first 9 months of its last companies of a definifiscal year Operating rev enue grew 3 percent subject to execution to $2 67 billion, while operating expenses tive merger agreement and approval hv the companies' hoards swelled 10 percent to $2.71 million. and stockholders Fare increases, growing traffic, a decline in CBS's Gabriel Industries toy fuel prices and consumption should all give - it oiU the airline i 10 CALL 303-794-60- (if long B C and Company Ziegler distance call collect sirc ) B.C. Ziegler and Company 6045 80122 Numher of operatipq branches as of call rlafe I. Kathryn A Schenk. Virp P'esidnnt of thr abov nampd bank, dn solpmnly affirm that this report of condition is true and cor roc t to the bes of mv knowledap and belief SCHENK Correct- - AHest DAN P MFRCER DOUGLAS F SON NT AG J HOWARD DUNN Directors State of Utah Gnunty of Salt L ake ss 82 Swnrn to and subscrib'd beforp mp thi 1?th ejay of April LYNN J Ol SON STATE OF UTAH Notary Public Department ot F manoal Institutions I, Sewart G Vernon, Assistant Chief Examiner, of Finanna a ao the true and rnrrec is Institutions, fr.rooninq hereby certify that toov of the statement of the above named bank, hied in this office on Aunl IS. WH? STEWART 0 VE P NON Asst Chief of Examiner of Financial Institution ?00f East Easter Ave xathryna 1 by OR MAIL COUPON TODAY! 45 Littleton. CO Phone 303-79- Please send information regarding Holy Cross Hospital of Salt Lake City tax exempt bonds Name Address City 1 I' Decline For Hercules ea tun.- I He said that until ' we see a slnlt m t and in the unei op, mac pnenv. now II 23, 1882 Profits, Sales s npu itinr. revenue the quarter lo $ciM million !l s million Opet ating expense tell 11 troni million p Kent in $770 t million troni $.sU numb the tesnlt ol lower tuel costs and Sim !i -- x - Tribune, Friday. April outlook non In New Chief Executive L Edwin Smart aid pmtits from the hotel, food service and real In the businesses were more than nlt-airlines loss He attributed Hie later to TW s traditional weakness m winter months along with the "impact oil travel of a generallv weak economy and the prnlilet at inn of deeplv discounted airline fares " practices the .ihnut opl line In it Ioss Offsets ISof it York. TWA Uorp I'linmici million Earnings Kell Frontier Airlines, a Denver based regional line that substantially added to its routes following the 1078 deregulation, said earnings in the qua tier fell 68 percent to $2 4 million from $7.3 million Tiger International, the bis Angeles-basefreight transportation company, reported its worldwide air cargo operation. Flying Tigers, lost $33.4 million on operations m the first quarter oil revenue of $203.6 million C Heavyj Tradingo Buoys Market 051-46- a $57 5 rvp.i net loss in the 117.19-1.Comp. Dow Jones Ind. 853.12 9.70 I. alee Nations Airlines Report Bad Business The Market In Brief Thursday. April 22, 1982 nyrlHiaMHnryfrf Phopp Sbltf |