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Show Marathon Oil Up ami Down the Street 1C Alta to Up Prices Next Season akr Salt tribune By Robert H. Woody Tribune Business Editor Sorry. Alta bulfs. The price goes up next season. Twelve bucks Business bucks half day. Both up $2 over time. But when the venerable Mr Quinney died in November at the age of 90. a lot of people speculated the resort would to start charging whatever the traffic would bear. No way. said Mr. Morton. this season's its No. because Joe Quinney may be dead, but the spirit lives on. he said. We still remain oriented to the locals. Our intention is still to provide the best skiing for the most reasonable not Joe passed Quinney 15, 19(14 s nd away. Charles (Chit 3 price," i Section D Page 1 S. Credit Crunch Predicted By Economist By The Chicago Tribune CHICAGO The chief economist of First National Bank of Chicago predicted Wednesday that banks will raise their prime lending rates percentage point to It's by one-hapercent by as early as Friday or lf Monday." Roy E. Moor also said the key banking rate could rise to ll3. or 12 percent by the end of the year as conditions become tighter because of heavy borrowing by the federal government and a growing demand for funds by busi- credit-mark- nesses. Moor, in a press briefing sponsored by the bank, said that crunch conditions could develop in the credit markets by the fourth quarter. For the first time in this recovery, we see some pressure building up on liquidity, or the availability of funds, he said. That means there will be some lack of funds available y for borrowers on an individual basis. Lenders won't be able to accommodate all of the demands for funds. Moor said the prime rate is under upward pressure because the costs of funds to banks have risen and loan demand also has increased markedly in recent weeks. good-qualit- He said short-terinterest rates have gone up because the economy in the first quarter of 1984 is proving to be stronger than it was in the last three months of 1983. As a result. Moor said, the Federal Reserve Board has tightened its credit policy Column 1 See Page D-- ' Morton, prtsi dent of Alta Ski Lifts Co. J. (Joe Next year's price hikes, he said, are not aimed at making more money, but to cover costs. This season revenues are down, and costs are up. With all that snow" All that snow - and fog he said, resulted in Alta losing about 16 days of the 41 days between opening day and Dec. 31. That's 39 percent of potential business shot. That period, which includes the busy Thanksgiving and Christmas holiday, determines whether you break even or make a profit. ;; MrWuod i Quinney. chairman of Alta Ski Lifts, had been in on the resort since its founding in 1938. - chairman, he and incorporators. gauged prices to cover costs, not market conditions. Profits, it any. always go back into operations and improvements. Even thtJIigh some national celebrities eventually came to savor its powder and quiet anonymity it is a resort for the the locals, he As - Controlling interest in Alta is still owned by New Horizons publisher James Laughlin and his family. Second largest interest is owned by Mrs. Janet Lawson. Mr. Quinney's daughter. The rest is scattered among a few holders, said Mr. Morton. said. couple of years ago. Mr. Quinney disclosed chagrin in his voice - that the resort was going to double-digit- " prices for the A and then some tor a long ble-digi- ts fares. Thursday, March Helped U.S. Steel in 1983 - first time. lot of newer resorts in Utah, and a lot of the older ones elseStowe. Sun Valley. Vail. where have been charging dou Aspen A Last season was best ever for the resort, he told The Tribune. - And for the first time in 45 years, owners indulged themselves with a dividend $187,500 declared in January that year, and $250,000 declared at a September meeting. In all years past, profits went back into the mountain and its PITTSBURGH Il'PI) - U.S. Steel Corp.'s acquisition of Marathon Oil Co. "helped lessen the effects" of a miserable year, the chairman of the nation's No. 1 steelmaker said Wednesday in his 1983 annual report to stockholders. lifts. U.S. Steel s report reflected the company's shift in its profit center from steel production to its oil operations. The firm showed a net loss of $1.16 billion, much of it attributable to the permanent shutdown of several And for years, said Mr. Morton, the company could count on growing patronage to cut the ticket costs. That day. however, is over. The Forest Service has prohibited any further expansion of its parking lots. There are are no current plans for additional lifts. Clair F. Coleman Career Alta's eight lifts can haul 9.000 skiers an hour. But during peak periods. the company deliberately slows the lifts to make sure those on the hill don't have too much company on the way down You could parallel lifts and increase capacity, he said. But that would defeat the purpose of keeping slopes reasonably open. You don't want to be looking over your shoulder all the time when you go skiing." And. he adds, there just isn't that much skiable terrain left. The canyon resorts also have a lot of costs they didn't have in the old days. Grooming was done by patrons who would side step the slopes. Now. costly machines do the job. The resorts pay lor the avalanche control once done by the Forest Service. To End Executive Officer Of MI S Affiliate To Retire in June Clair F. Coleman, president and chief executive officer of Mountain Fuel Resources. Inc., an affiliate of Mountain Fuel Supply Co., and president of MFS's Transmission Division. will retire June 1. The announcement was made by R. D. Cash. Mountain Fuel president. A native of Ogden. Mr. Coleman joined the company in 1954 as a gas dispatcher. Later, he held managerial posts in the engineering and distribution operations. He was named president and chief executive officer of Resources in June 1979. In November 1980. he was named president of the Transmission Division. He has been a board member of both since 1975. He also is chairman of the Management Committee of the Overtli-rus- t Pipeline Co., the western segment of the Trailblazer system. He will continue as a Resources board member after retiring. Mr. Coleman also has served on professional and civic boards. The company and its people will greatly miss Mr. Coleman's expertise as well as his knowledge." commented Mr. Cash. Rehabilitation of Charred Mine Begins Special to The Tribune ORANGEVILLE. Emery County - Emery Mining Co. has confined a fire, which erupted in December, to a mine-ou- t section inside the Beehive coal mine it manages near here and has begun to rehabilitate the burned area. But spokesman Randy Price said the mine's workforce, laid off since Jan. 13, has not been recalled because the fire is still burning. The workforce includes both management and coal miners affiliated with the United Mine Worker of America. District 22 based in Price. Mr. Price said that leaves Emery Mining's workforce at the three coal ruining operations it manages in Emery County at about 1.UU0. He said before the recession hit the coal mining industry in 1982 the company had 1.800 employees. The mine operations Emery MinDesbee Dove, the ing manages are Wilburg and Deer Creeke owned by Utah Power & Light, which uses the coal mostly to fuel its power plants. in Utah The fire broke out Dec. 30 on a diesel tractor in the Beehive, one of the three mines which comprise the Desbee Dove operation, on Dec. 30. Five miners were using the tractor to help repair a belt line. 30-Ye- ar the week of Feb. 26 workers broke down the seals and set up temporary seals 2.500 feet further inside the mine because the fire had advanced to the burned out section. Meanwhile, the work to restore the burned area is under way, said Mr. Price. He said only about four miners were called from layoff status to do the work. steel plants and manufacturing facilities announced several days after Christmas. U.S. Steel reported an operating income of $1.1 billion from its oil and gas business but an operating loss of $634 million from steel Chairman David Roderick said the past two years was a turbulent period for the American steel industry. but that "the commendable performance of Marathon Oil helped to lessen the effects of these adversities." Marathon's operating income was $1.1 billion before foreign income taxes, compared with $1.2 billion in 1982. the report said. Marathon Oil became a wholly owned subsidiary of U.S. Steel on March 11. 1982. at a cost of $5.9 billion. Roderick downplayed the effect of the plant shutdowns on his firm's coffers. "Although the charge against income was substantial, the shutdowns had no significant net effect on cash in 1983 and are not expected to have a material impact on cash in 1984." the report said. Among the steelmaking facilities being shut down are certain units at the Fairfield Works in Alabama, the Fairless and Mon Valley Works in a Pennsylvania, the Works in Cleveland and the Gary Lorain-Cuyatiog- Works in Chicago. The companys sales were down compared to the previous year. Sales in 1983 were posted at $17.5 billion. $1.3 billion in 1983 E When the miners were unable to douse the fire, they fled the mine. All were taken to Castleview Hospital in Price, treated for smoke inhalation and released the same day. 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