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Show Up and Down the Street Associated Food Store Sales Hit Record By Robert H Woody Tribune Business Editor Sales of the Salt Lake Associated Food Stores Inc. reached a record $598 million for the fiscal City-base- year I f, IV Johnson and Carter. Salt Lake food retailer Waldo L. Macey, who in 1982 was elected first chairman of the National Grocers Association, in wake of the affiliation of the Cooperative Food Distributors of America and the National Association of Retail Grocers of the United States, stressed need for continued unity within the industry. The NRA represents some 28,000 independent grocers affiliated in 65 regional associations as well as 1,500 individual retailers, 43 state and local associations, and 97 food manufacturers. Members paid honor to r secretary-treasureHarold M. Baithe company in ley, who 1940, and who will be retiring July 1 Mr. Black and Mr. Warner announced election of Claude Purles as secretary and general director, and Stan Brewer, treasurer and general director. d ending March 26, Russell Black, chairman, t and Gill Warner, KTSi! ; and president general manager, told the ber food store or- ganization at the "fit ff 700-me- k Mr. Purles r ' Friday Mr. Woody And inflation, they noted, accounted for less than half of the gain of 8 78 percent over the year-aglevel. Return to members, up 4 28 percent to $18,360,808, also was a record for the the association, Mr. Brewer Mr. Bailey million employer for inadequate documen- Asso-catio- o they said Member return is based on member interest share in the company and patronage rebates on purchases Assets, they said, were up to $97 6 f&m wsm&s&m million, compared to $89 2 the year before. In interview, Tom Zaucha, president of the National Grocers Washington, DC., told The Tribune, the NGA, which stoutly opposed the burden of collecting taxes" through withholding on interests on dividends, is now resisting imposition of immigrant reporting" standards on the industry. These would would require the inwhich has a high employee dustry turn over to maintain five-yerecords on the immigration or alien status of workers at penalty of $500 per worker and possible jail to the annual meeting jrJ tation. While the industry accepts the it is resisting idea of the idea that it should be burdened the collection of with functions taxes and immigration control that should properly be the responsibility of government The women housewives, mothers within the ranks of food industry employees, he noted, provides thousands of Esther Petersons to monitor its performance The reference was to the Utah native and women's rights activist who was presidential assistant on con By Chet Currier dimmed hopes for a cut in the Federal Reserves discount rate, which has stood at 8 Vi percent for about five months, and contributed to a rise in interest rates. In Fridays activity in the credit Treamarkets, rates on short-tersury bills climbed as much as 20 basis points, or hundredths of a percentage point. Prices of long-tergovernment bonds, which move in the opposite direction from interest rates, dropped about $10 for every $1,000 in face value. Much of the rise in rates came after the money-sup-plreport. Brokers said it was likely that the numbers from the Fed would not sit well with stock traders when the market reopens Monday. Some of Friday's best gainers were natural-ga- s issues, spurred at least partly by takeover rumors and speculation involving some eompa- - Associated Press Writer - inStock prices drift- ed lower Friday the closing session of their second straight declining week. open-mark- Analysts said concern over the outlook kept the market and might well to on the defensive continue to do so in early trading next week. The Dow Jones average of 30 industrials slipped 1.35 to 1,190.02, bringing its loss for the week to 28 73 points. Volume on the New York Stock Exchange totaled 73.15 million shares, down from 83.26 million y Thursday and the lightest total since 67 71 million changed hands on April 8 Analysts said traders spent the day looking ahead uneasily to the Federal Reserves weekly report on the money supply, which was issued after the close. As it turned out, there was cause for that concern. The data showed a $7 billion jump, far exceeding expectations. Advance Wall Street estimates had called for an increase in the $1 billion-$- 4 billion range, after a rise of $4.2 billion in the previous reporting week. d growth in Directors Set Dividend Directors of Commercial Security Bancorporation declared a quarterly dividend of 35 cents a share payable June 1 to holders of record The dividend is the Wednesday. same as for the previous and year-agquarter. o Greater-than-expecte- the money supply lately has DUFFY Saturday Morning May 21, 1983 Section Panelists include: James Bradley, director of the Utah Energy Office; Jack Lyman, external affairs director for White River Shale Oil Corp.; E. Reese Davis, vice president and chief financial officer for Paraho Development Corp.; Kenneth Richmond, supervising research physicist for the U.S. Bureau of Mines. Pittsburgh, Donald H. Nielson, president of RAMEX Synfuels Inc., a specialist in tar sands, and former state science director; and Paul L. Russell, consulting engineer and author of The History of Western Shale Oil, Denver, Colo. ' Panel moderator will be Roy Gibson, associate professor, University of Utah Department of Communica- VOLUME 73,150,000 SHARES iiNrMAMr,$n 388 ject higher gas prices under decontrol proposed by the Reagan administration. Collins Foods rose 1 v4 to 29 V The stock company declared a split. ACF Industries, which cut its dividend and said its earnings might remain depressed, fell 27 to 337. In the overall tally on the Big Board, declines held about a edge on gainers, while the exchange's composite index edged up 04 to 93.71. Nationwide turnover in NYSE-listeissues, including trades in those stocks on regional exchanges and in the market, totaled 85 56 million shares. Standard & Poor's index of 400 industrials rose .19 to 181 78, and S&Ps composite index was up 15 at 162 14 At the American Stock Exchange, the market value index rose .36 to 449 61. The NASDAQ composite index for the market closed at 303 56, up .74. ISSUES TRADED 1,967 DOWN 847 N.Y.S.E. Index 93.710.04 S.&P. Comp. 162. Dow Jones Ind.l, 190.02 4 tions. 1.35 Associated Press Chart d Chain Reports Earnings Up Special to The Tribune SEATTLE Nordstrom, Seattle-basefashion department store chain, reported earnings up more than double and sales up nearly 30 percent for the first quarter ending April 30, compared to the year-agperiod. Utah Division sales were up 42 5 d 500-stoc- k o percent, the firm said. Nordstrom opened its first Utah store in August 1980 in the Crossroads Plaza. It now employs 500 at that store as well as in stores in the Fashion Place Mall in Murray and at the Ogden City Mall. Net earnings for the 36 stores were $5,241,000, up 122 4 percent, over the year-agquarter. Per share earnings were 56 cents compared to 28 cents. Sales were up 29 4 percent HammoncI 4 session. question-and-answ- May 20, 1983 732 Page Boom or bust? Status of Utah's synthetic fuels industry will be reviewed by a panel of experts Thursday from 2 to 5 p m. at the State Office Building. Sponsored by the Salt Lake Area Chamber of Commerce, the program consists of presentations by panelists followed by an audience New York Stock Exchange UP B Utah Synfuels Topic of Discussion The Market In Brief The group also appeared to benefit from news reports about an Energy Department study said to pro- Bruce Business Boise, and Jack Shaum, Ogden, were elected new members of the board. nies in the industry Arkla rose l5' to 24, Laclede Gas 134 to 27V, Texas Gas 2 V to 36, and Wicor IV to 203. by tribune Carl Shaver, Stocks Drift Lower in Closing Session For Second Straight Declining Week NEW YORK Snltfcikc sumer affairs under presidents o Many business and industry people have wondered if our highly touted synthetic fuels industry boom has already gone bust in light of the economic decline. This forum should help us get a handle on it, said Fred S. Ball, chamber president and gen- eral manager. Money Surge May Mean Stock Decline - In another NEW YORK (AP) dose of unpleasant news for financial markets, the Federal Reserve Board reported Friday that the nations basic money supply soared $7 billion m early May, extending its the latest surge to $12 9 billion over three weeks Disappointed bond market trad- ers bid interest rates sharply higher after the 4 15 p m. report. Weve gone from euphoria to the depths of depression," said Thomas Thomson, chief economist at Crocker National Bank in San Francisco. The growth in Ml, a measure of funds readily available for spending, was more than double the typical forecast among financial analysts and remained well above the upper limits of the Fed's inflation-fightin- g target Interest Cut Expected As the month began, before the onset of the unexpectedly strong upturn in Ml, expectations had spread in financial markets of an imminent cut in the Federal Reserve Board 8 5 percent discount rate and in the banking industrys 10.5 percent prime lending rate. For the foreseeable future, neither one will show a change in either direction, Donald Maude, chief financial economist at Merrill Lynch, Pierce, Fenner & Smith Inc., said after the Feds report Friday. The discount rate, the interest on Fed loans to banking institutions, was cut seven times late last year as the central bank sought to stimulate the economy. But it has not been changed for more than five months Prime Rate Steady The prime rate, the base upon which banks compute interest business charges on short-terloans, has held steady since February. In Realtors Report Sales for Week Sale of 280 properties for periduring a od was reported by the Multiplte Listing Service of the Salt Lake Board of Realtors, according to Alma Mansell, board president. A computer breakdown last week prevented reporting on a weekly basis as has been traditional. Two hundred residences were sold for $14,817,152; 28 condominiums, $1,774,400; 13 apartments and $18,519,027 two-wee- k duplexes, $946,800; 10 commercial properties, $100,725, and 29 lots, $879,950. Average residential price was to $142,971,000. $74,086. Shareholders, at the annual meeting here, voted to increase authorized shares from 12 million to 30 New listings during the past week numbered 699 compared with 527 in week. the year-ago credit market trading late Fri- day. yields on three-mont- h Treasury bills shot up to 8.40 percent from 8.21 percent just before the release of the Treareport The price of long-tersury bonds, which moves in the opposite direction of interest rates, fell more than $5 for each $1,000 in face value It's el collapso, in the market, said Maury Harris, senior economist at Paine, Webber, Jackson & Curtis Inc. Its an unpleasant surprise." Associates Elect New President president of Utah Trust Co., has been elected president of the Mountain States Chapter of Robert Morris Associates Glen C. Larsen, M H. Atwood, Bank & executive vice president of Val- ley Bank & Trust Co., was elected vice president. RMA, founded in 1914, includes some 2,500 mem-w- l &3L Mr. Atwood 10,500 commercial loan and credit officers. It was named for Robert Morris, a principal financier of the American Revolution. ber banks and million. OPEN HOUSE CABIN SPECIAL ON DISPLAY Down will hold the price 'til Summer of 1983 10 4 Esquire in Chestnut or Pewter Pigskin leather, from $38 8 to 13 Extra Wide 12 to 14 Narrow A Medium JL- - PINE OAK TREE 20'x24', 8' Sidewolls 6990 PACKAGE READY TO BUILD man-- 1 day Supervision PRE-FA- Delivery $1 RHAND Exterior Shell 16x24 Exterior Shell $9980 $4890 Exterior Shell $ HIDEAWAY TREE 20'x28', 8' Sidewalls SEASONS ALL CABINS 1474 So. 700 West, SIC 6 Phone 972-242- 50 per mile HOURS Weekday 9-- Sat 242 South Main Faahlon Ptaco SMUFb SaXLakt City, Utah Oram Ogdan iDahlesl I PRICE INCLUDES: Floors, Walls, Roof, Shingles, Windows, Doors. Stairway, Nails, Hardware No Interior Finish NEXT YEAR. ..LETS GET UTAH ROSES GREENHOUSE BEDDING PLANTS! j. Famous Scalp Specialist Tells Truth About Saving Falling Hair 10-- 2 SALT LAKE CITY SPRING CLEARANCE Prices Good From May iy thru May 28 FIREPLACE ITEMS CERAMIC TILE WOOD BURNING n FLOOR TILE WALL TILE du $j 00 STOVES SO FT. & UP SO. FT. A UP DECORATIVE BRASS ITEMS DURA VENT SELECTED TOOL SETS ENT,RE STOCK 30 CLOSED MEMORIAL DAY 150 i UP 25 OFF l PRICE OFF Petunias Geraniums many more Portulaca Marigolds Vegetables plus Impatiens Begonias Alyssum Also French Garden Planters and Beautiful Fuchsia, Ivy, Geraniums and Impatiens. o $9.99. Hanging Baskets $4.99 Solid Red 1 F a?1 utaLr5se, inc. "0 pp, ( - Petunias Opan Every Day From 9 to 6 O V ' t3 p i F is- Except Sundays Greenhouse Outlet 567 WEST 90TH SOUTH M f In an interview, K.C. Conner, nationally famous consultant for International Hair and Scalp SANDY 566-767- 3 s Specialists, Inc., said, "There are many different scalp disorders that cause men and women to lose hair. Using common sense, a person must realize that no one tonic or cure-al- l could correct all disorders. GUARANTEED Conner said, Once a person avails himself of the International treatment, success is assured. You will be given a written guarantee from beginning d to end on a basis, and the guarantee must be honored according to Federal law." HOPELESS CASES REFUSED for slick, We have no cure-al- l shiny baldness, or male pattern baldness, where no treatment is of any value. Therefore, we will continue our policy of refusing all hopeless case". There is one thing Conner wants to be certain every man pro-rate- I and woman knows. When baldness seems to "run in a family, that does not prove whats causing your hair loss. If hair appears to recede at the temples, or a spot begins to show up on the crown, there is something wrong and it should he given immediate attention. FREE CONSULTATIONS This free consultation is very thorough. It requires 20 to 30 minutes of your time. No appointment is necessary. Interviews are given in private with no possible embarrassment. After the consultation, he or she is told the required length of treatment and how much it will cost. We accept Master Charge and Visa. HOWS YOUR HAIR? If it worries you, just go the Ramada Inn, 999 S. Main, on Sunday, May 22, from 2 p.m 9 pm, or m.--on Monday, May 23, from 9 a l 1 a m. Ask for Mr. K C. Conner. Or phone -- |