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Show v n tHjr ji;ilt ' m ry w ff w Tff f'rf t rtM'VMi Sribunr ;tkr Sunday Morning, October 17, 10H2 tTlion I' IacrOne p and Down llie Street I Foreign Firms Flex Muscle At Mining Congress Show Some of 'hr in ms i ..,t so mot h t ttans)ort and assemble on site that Rnlicit H WiknI) Tribune Rumnps Editor By - LAS VKGAS. Nev "If lik hu ing a now car. You want to slam the door and kick the tires," Glenn F J ark son said from a glns boot h elevated over the vast exhibition hall of the V v 'pas e n t Center. there are some mighty big more than twice the tires to kirk height of a man and costing about f 15,000 each The rpiadrennial show is the biggest yet for the mining industry ami possibly among the o biggest industrial shows in the world, says Jaikson Charge of Show Mr Jackson, a World War II paratrooper, former Carbon County coal miner and a 1951 Cniversity of Utah mining engineering graduate, is in charge of the shpw for the American Mining Congress I hiAMC is an industry association made up of the producers of most of America's metals, coal and industrial and agricultural minerals; manufacturers of mining and minerals processing machinery and associated consulting and engineering firms Though times are bad for the U S mining industry, the show is about 20 percent bigger than four years ago. with 18.000 Ions of equipment worth more than $2 billion on display III - in Las Vegas was this $1.2 million ; loader purchased nese-mad- e Japa-a- t by Getty OiL It 's a Bully Time to Invest Long-TerBy Dick Davis apprehensions about the stock have Writer A super bull market is under way, says The Elliott Wave Theorist tRohert Prechter, Gainsville, Ga.). "The whole orientation of strategy for stock-markinvestors will now have to change from one of aggressively trading the intermediate swings to purposefully accumulating stocks for a long upward pull of at least five years duration. This bull market should be the first market since the 1960s. The experience of the past 16 years has turned us all into traders, and its a habit that will have to bp abandoned. The Dow should nit an ultimate target of 3830 on the long-terwith interim stops at 1300 and 2860. It now remains to identify upcoming reactions to establish good entry poinls along the way to take advantage of what is now a new ball game. Do not assume it is too late to get invested for the longterm on the next reaction This market has still got over 2,000 points on the Dow left to go." specter has been settled, the ragging concern about competition from the Japanese is not the worry it onre was, and fears about market maturity should be put to rest. Morten says his $10.50 earnings per share estimate is way out in front of the Street consensus for 1983 of $9 50, and he believes a substantial s expansion of the stock's multiple is coming up. Two prime beneficiaries of lower interest rates will he Chrysler (C 97a and NYSE, range American Motors (AMO 4 NYSE, range says Andres Market Cycle Investing (Mountain Vipw, Calif.). Chrysler and American Motor sales and earnings are expected to improve significantly before year end. Look for nice profit reports in the fourth quarter. Both stocks have turned the corner smoothly. Once the turn begins to he believed, look for aggressive sales promotion, good trade-i- n prices (they are at a premium even now', and lots of industry talk about recovery. Consumers are hungry for new models. They need small, local commuting vehicles to replace aging clunkers and gas guzzlers. AMC has among the better domestic selections in its new line, and Chrysler has been importing small cars, and selling them. too. Buy both stocks at current levels and put them away to Knight-Ridde- r Wall Street thinks the best is yet to come for Eastman Kodak (FK 89, Portfolio range Letter (New York, N.Y.) says: "The spectacular rise recently in Eastman Kodaks stock is a preview of whats ahead for a company that just a few weeks ago many investors thought might be humbled by foreign competition and a mature market. Stay with Kodak, says Staney Morten of Wertheim. The stocks done well and will do better. Recommending Kodak for the third year in a row as his top choice, Morten says that the three been put to bed. The antitrust Transcript (New York, N.Y.) panel discussion on the industry, Swort says: "Wallace (formerly Wallace Business Forms) has put together a remarkable string of years with no reversal in earnings. And it maintained progress through fiscal 1982 (ended July), when it reported $3 13 per share Our estimate for the coming year is $3 65. And we see m operating margins picking up with the recovery in the economy next year." David Benwood of Prescot Ball & Turhen concurs. "Wallace is the best managed company in the business-form- s industry. It has the ability to price right, market right, control costs and maintain a very high degree of employee productivi-ScPage F-- Column e 1 r Lower Rates Benefit Money Movers Most 3V-10- ), k Wallace Computer Services (WCS 397-'NYSE, ) range is rated a timely intestment in office supplies for the next 12 months by Edmund Swort of Arnold Bernhard & Co. In a Wall Street 26Vi-39- EARN UTAH'S HIGHEST RATE ON 3 YR. CERTIFICATES By Robert Burns German corporate cousin. Iraedifo Parker Seal Group, now employessmri ing .100 (umpaied to a peak of 550 a year and a half ago. c pce-re- was formed in Salt Lake City 20 v cars ago as Sealcraft Co. Other Utah manufacturers on the scene include Eimco, with its familiar front-enloader, and Ireco Chemicals, with its slut ry explosives unit. Also on the Scene On the scene, too, was a large the contingent of foreigners Japanese, the French, the Australians. the Indians and the Nor w egians. In 1978, the People's Republic of China delegation made its appearance attired in Chairman Mao suits They were back this time in what could best he described as Tuesdays Kiwams Club luncheon suits truck-mounte- a hint of with the Occidental. There was another foreign presence disturbing to some, perhaps welcomed by others. And that was the Foreign Machinery. Krupp, Hitachi. Michchn, Bridgestone. exAbout 80 of the near-70a hibitors were from overseas record It was for Hollis Dole, now a consultant and a former U S assistant interior secretary for mines and minerals, a rather dismal trend. Says 'No Thanks' The technological lead of American manufacture is Associated Press Writer NEW YORK Consumers have gained relatively little from the dramatic drop in interest rates. The big winners have been the money movers and lenders; the Wall Street investment firms and the commercial hanks in Americas money centers. - Some major lenders an- nounced this past week that they were reducing their rates on home mortgages, automobile loans and personal loans. But the breaks were small compared with the recent decline in the lending community's cost of buying funds. Evidence of the banking industrys gain from the rate drop was report from Chemical Bank U once-domina- the nations sixth largest bank, that its net income soared 44 percent in the third quarter ended Sept. 30 compared with r the quarter Manufacturers Hanover Trust Co reported a 25 percent increase and Security Pacific National Bank posted a 19 percent rise. E. F. Hutton Group Inc., the investment giant, reported a 174 percent increase and Shearson-AmericaExpress, the brokerage subsidiary of American Express Co., said its profit jumped 23 percent. The size of such gains was less revealing, however, than the reasons behind them. Donald C.. Platten, the chairman of Chemical, said the lead-Se- e Page F-- Column 4 I I I SIGN SERVICE IBM the G. A Mam. West Germany, corglomerat now owns Terex, the Hudson, Ohm, manufacturer of loaders, trucks and scrapers formerly owned by General Motors, he said Maimler Ben, Sliittrmart, West Germany, owns Fuelid once owned by White Motor Co of Cleveland. As foi "Bridgestone" tires and (onvcvor bells, that's the trade name adopted for international convenience by the Ishibashi Corp of tapar, Translated Ishibashi means " Stone In Gc t it 1 At the lf7 show recalled Mr Mole, the Japanese were here with 1 and cameras nol-boo- ks ' .Now ai e manning the booths " More Sanguine the' Campbell Jr .chairman manufacture division, w as more sanguine If the foreigners arc here to exhibit and sell equipment, he said Column I See Page Calvin A ol the AMC . IlOFs Earnings Rise 36.3 in Third Period Reuter News Agency N Y. International Business Machines, the biggest U S manufacturer of computers and office equipent reported a 3fi 3 r profits percent rise in despite increased cancellations due to thp recession. IRM, the eighth largest U.S industrial corporation based on 1981 sales, said its profits rose to $941 million from $633 million in the third quarter last year. Revenues improved to $8 17 billion from $6 72 billion, and earnings per share rose to $1 58 from $1 18. For the first nine months, profits were 218 percent higher at $2 71 billion on a 16 percent increase in revenues to $23.29 billion. Thp earnings per share moved up to $4 56 from $3.80 IBM President John R. Opel said in a statement that "overall, orders have exhibited strong growth over last year, though in the past several months we have seen somewhat higher order cancellation and deferral rates on some of our products. He also said the recession was being felt in IBM' overseas aARMONK, third-quarte- ctivities, remarking that "operations continue to be adversely affected by economic problems m a number of major countries in whicn IBM does business. OFFICE FURNITURE EXCELLENT CONDITION! Executive and steno desks, various styles of chairs, fo!ding tables, conference tables; study carrels, dictation equip. Desire to sell this week. To see downtown, call: year-earlie- 356-933- 1AW.D OFFICE WAREHOUSE FOR LEASE 7100 SQUARE FEET n i Thru off coiuput extension study Law Graduates Quality CA BAR (U S federal Courts U S U S Tax Courts plus Administrative Courts a f'A attorney Cshforms res'dency not required) DOCK HIGH GOOD LOCATION FIRE SPRINKLERED 5ucemiCirt REGISTERED RAIL SERVICE 22 FT. CEILING HEIGHT TRUCK DOCK LAW SCHOOL TOLL FREE 800-423-45- A 30 Southland University 35 N. Craig Ave Dept. Pasadena, CA 91107 CAPITOL INDUSTRIES 486-840- 9 INew Industrial Earn the high rate... Utility Vehicle CERTIFICATE Fffpctivp mtil rQ' Deposit $1,000.00 or more in a three-yea- r certificate. Your savings are compounded daily, earning an average annual yield of 16. If you withdraw your money prior to maturity, you will still earn 9 interest. HOME CREDIT THRIFTS LOAN 1455 EAST 21st SO. 487-081- CO'' ( 13.25 Mom Office .WAS South 700 ast Vilt nke City Utah fldlC'h Rhi'h Telephone 1 'Average Annual Yield tor lha week ending Oct. 20it. 1992. All savmqx am proterled up In a minimum el $15 non ps tin Indur-tri.iA Guarantee Corpnialion ol Ulan private corporation which instrumentality ol the stale n( Utah or the lednral qovernmnnt $10 000 aopnvt i 'S nan nnt an COMMERCE the nvnh t0 '"'h'rmr The DAIHATSU 7 'Jtp 1 dopo'ut fp'Lfs jte Water cooled engine Avg. 50 MPG. 4 Speed Transmiss'on 12,000 mile Wamnty V th S Sal Af st I nke '.'ll.p'l C 'll iy n ,f i'nn t. FIRST THRIFT Jl'f' S ommitnient to rescan h and do v elopment and to the highor rust , of I S manufat tore i Citv-base- 0 price-earning- 1984. Other I'tah bound products in lode the Bangor, Mu h made Get man utility vehicle, a $78,000 unit that will go to I'tah Fuel Co in Carbon County The mobile unit can provide maintenance, refueling and repair service for underground vehicles at various locations in the none Less Spectacular Much on display was less spec taeular, dealing more with the anatomical parts of mining and processing machinery. There were industrial seals now made under shared technology by Barker Hannafin Corp 's Salt Lake Seal Group and its i Anri Among the many mining machines displayed the American Mining Congress convention Some on displav have already been sold ami will be delivered to the customer One is the Japanese made Hit dt hi tractor mounted loading shovel, which will go mlo operation shortly at the Getty Oil Co gold projec t at Mert ur, looelr County 'I he $1 2 million giant can lift in cubic yards with one scoop of us hue ket Spread over Mr 'Voody more than a billion square feet of concrete pad in the hall and outside is the machinery of the mining industry Mr l.cv will not be moved from" here until they are sold Some Already Sold l lliiilg til fol l oil llirtlilifdl ll no thanks he said to the See it at. . . C1A1HATSU Turf Equipment 2006 WEST 1500 SOUTH 972-416- 4 ) |