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Show ' Tryvyy y 'Vry y If Troubles Delay Broadway 75 H ti T irimn 2-- The Market In Brief New York Sfock Exchange rrojeas VOLUME 772 Continued From Page B-- 2 the Kress regarding plan for ills, piojxrims building (which Keith Warshaw used to occupy), Gi jut's uim tlic old tlieatei He holds leases to the warehouse and the Harver parking terrace Year-Lon- g Battle Mr Yurth said he waged a year-lonbattle with city building officials on acceptable designs for his club and over the warehouse's sturdiness He said it took two teams of structural engineers and architects 10 finally persuade officials that proper design and renovation could make the warehouse vacant for about 15 years, able to withstand the demands that racquetball handball and squash courts jxise Roger Ev ans assistant director of Salt Lake City building and Housing Services, says, however, that he has neither heard nor spoken to Mr Yurth or Mr Honiiun in months about their plans Nor, he said, has he seen any rev lsed engineering or architectural designs on the athletic club or the retail complex Mr Yurth said his architect submitted new designs for the sports club only five weeks ago to Mr Evans and received an informal approval on the plans after months ago confronting the city's building appculs board on the iruflei Needs Formal Application At any rate, Mr Evans said the city considers the question m "preliminary review and all Mr Yurth has to do is formally apply for building permits and submit his designs for final consideration The city had earlier pointed to problems in the warehouse and the rest of the properties regarding fire protection, sprinklers, exits and vulnerability to earthquake damage, Mr. Evans said. He said he has seen no new engineering studies addressmg the warehouses seismic durability. Mr Yurth said city officials originally claimed that it would take $1 million m reinforcement construction to render the warehouse structurally sound But his engineers rebutted that opinion and devised plans to make the warehouse conducive to the proposed l athletic club he said Fire, Safety Concerns The club president said the city has been grappling with fire and building safety concerns that his new design complies with for so long that there was a time when he thought the whole proposal would fall through. For Mr. Hormans project, much ot the problem has centered around fire and safety standaids for large open areas that the cluster of commercial properties pose, but that no city ordinances or regulations deal with, Mr. Yurth said. Nevertheless, Mr Yurth hopes renovation of the warehouse, which he will lease from Mr Horman, could begin as soon as next month, pending closure of construction financmg and issuance of building permits. He is looking at a September opening for the Downtown Athletic Club. be welcomed news to the 1,600 or so who It have purchased advanced club memberships. Run on Bank Despite the delays, Mr. Yurth said the clubs advanced membership has been patient and supportive of the project. Only about two dozen paid members, he says, have asked for and received refunds or asked that their memberships be resold. We are committed to the concept, said Mr. Yurth. We havent had any run on the bank. He said about $350,000 has already been committed for some of the clubs remodeling and furnishings Total cost to renovate the warehouse will top $3 million, he said, with some 33,000 square feet of the complex made available on lease to concessionaries and vendois who will be responsible for their own improvements, which will amount to another $1 million, according to Mr. Yurth ine 48,900,000 fj gone the good old fixed rale, xvvear mortgage w av of the dixio has !xut vanety of methods and lending to cope with the vagarus of interst rates that fluctuate wildly and unprediet ibly above the double-diglevel Ttiev are complex and for the most putt misunderstood tv leiidel and Ihm mwt r, savs Walter Vail, vice president of the Mortgage Finaiuing Div lsion of Merrill Ly in h and Co New 5 ork What is needed, he said is a secuiitv readily accepted and readily liquified and understood by emit i bvmuwfi to ease liailsacllons The security itself would lx- surrogate for a vantiy oi i cm i puc jieu uunTgat, v n.,.n,igoi ccluu ques with ingredients ranging from mortgage packaging to hedging by options Ills film, lie said, has invented new instruments to provide the fluiditv needed to deal with coming housing mortgage needs He was the speaker Thursday at a lenders forum at the Hilton Hotel spnsored by Stewart Title Co, Houston, and Champion Mortgage Co San Diego The two-da- y conference, concluding Friday features representatives of 28 lenders and deals with financing subtects such as condonmuums mid condomuu convei sums, hotel motel acquisitions, and construction projects Replacing SHARES it is a paihages designed I ake Tribune f ridav 9K1 Mr Will told the confeienee that with the presuit in interest r ites housing, starts should increase to 4 million in 14-- 2 computed to million m si 1 720 - -- mssjc Marathon Wins Big In Market Gains NEW YORK iUPIi Maidihon or, apparently rescued by U S Steel from Mobils advances, scored a huge gam Thursday while leading the rest of the stock market to a small advance in active trading The Dow Jones Industrial Average, down more loss than four points at midday following a 6 Wednesday, rallied late to gam 0 67 point to S44 75 The NYSE Index gained 0 33 to 70 36 and the price of an average share increased 14 cents Standard & Index added 0 45 to 120 71 There Poors were 741 advances and 741 declines among the 1,910 issues traded Marathon, the most active New York Stock Echange issue, saored 27 to 104 after an opemng U S Steel ottered to block of 500,000 shares at 103 shares as of 51 Marathons for each $125 percent pav part of adeal worth $6 65 billion U S Steel, a Dow Average component, was the second most active issue, skidding 2 to 28 with blocks of 140,000 shares at 28 and 325,000 shares at , , the 1'mted States and a icstored rationality in vv oi Id oil pi u es P.E. Sales 1981 SAVINGS await man who bis & dtslnbulore utacturers tax covet Die low cost convenience & single inventory distnbu savings bom tion capabilities available 000 QUO sq tt ot space at nearly Freeport West HOUR HOTLINE PHONE t Broker inquiries welcome 801 4 Variable Rate Certificate Investment Plan IRA PioRtams 776-0840) American O Savings Want Ads are tor buying CARS1 Editors, brokers consensus, subject to ctonoe 531-561- Money Market Certificate Tax Free Certificate FREEPORT WEST 27 See One of These Fine Dealers SALT LAKE CITY Beehive Video 865 East 400 South Family Home Video Blvd. 3935 So. 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South State 971 PRICE Oliveto's Furniture 48 Eas Mmn Jean Selme's Radio Shack Tfri t it TliiifltTlWrini'falfilUtf PROVO LaBelles 1400 North State TAKE ONE IF fh rt pjrihi4 V ir o n i opinh r y - fl - f r pi nf pr md h frnn tt I M KM HE RE v N JON HAT Stokes Brothers f .! S OHb0 446 North 200 West MDK 4 LIS headphones and ACK 55 Auessorv Kit Buy both ttith Walkman II and Sony ttdl send you a big $15 n hate RICHFIELD Dode Dennis Sales Service 393 East 4th Nor'h 581 East 200 North ST. GEORGE Wilkenson's 245 West Tabernacle TOOELE Gordon Furniture and then some note of reason for buying NOW at . . . Dave Strong KJ5SCHE Utah Salt Lake 1045 South Stale Street, City, 3 Monson Brothers Mini size stereo cassette pluver with headphone Highlv efficient MDK 4L1S headphone supplied Improved counter inertial flywheel sjstem for tape transport stability while unit is in motion Mi t d tape capability Sift touch controls for super-ligh- t tape mode actuation External battery case allows, sixty full hour-- , of plav time on two alkaline D cell Dual headphone jacks for a second, optional pair of he idphones Battery life based on test results of listening at normal listening levels for four hours a dav . Farr The leiintiting -- -- M OGDEN 4119 j-- year Japan sees the proposed airplane as one that will allow it to assume a greater role in work West Main 130 Featherweight headphones Sonys Walkman II comes complete with these stereo headphones Buy an extra set to share the great sound and get $10 extra from Sony ROOSEVELT Selections A i Stale Show and Tell Video batteries' ft sit. latest Inteiest Hates 24 BOUNTIFUL Duncan TV &Appl. MEMO: Hit. fining it ill selling 111 recession hit markets Third quaiter earnings weie $7(G million up sig nificantlv from $?1 mill ion in the second quarter Crossroads Mall Fashion Place Mall memorandum of understanding for a joint feasibility study for such an aircraft may be agreed upon by the end of the ImdecL losing monev buy mg high priced crude re U-e- TREMENDOUS - Boeing Talks Productive asnrty Dutch ng1o MOS T WIDELY FOLLOWED STOCKS IN UTAH T EN 500-Sto- .ri W) V group along with other Western Furojx'.in and Japan se lefuieis had in the week Continental Illinois followed No 12 Crocker iiintul Bank of 9(0 Fram iseo which cut its prime r i, in ivreent Mond i the lowest lev el for the kev business borrowing rate since Nov 17. 19sl Other major banks left their pi ime rate at 16 5 percent The prime rate, the base upon which banks compute interest charges on short term loans to their most creditworthy corporate customers, has Imen falling sharply as a deteriorating economy has reduced demand for business loans char-broiler- - The in g Fourth quarter net was $403,000, or 25 cents a share, compared with $270,000, or 16 cents a share, for the year-ag- o quarter Revenues were $9,804,000 compared to $7,827,000. Clark D Jones, president, said installation of s in nearly all gourmet salad bars and restaurants, as well as a sophisticated marketing program, provided greatest impact on the 1981 results. The firm operates 62 restaurants in seven states 111 , ings by Shell Oil Co earlier to $29,764,000. a com-pun- 1 CHICAGO (VPi Continental Illinois National Bunk A Trust Co , the nation's seventh hugest bank, aid Thuisdav it is reducing its prime lending rate a half point to 16 percent, matching a level established Net income for the year was $1,058,000, or 63 cents a share, compared to $589,000, or 35 cents a share, for the year before Revenues were $36,562,000 compared expected and Kou! woilds Bunk Krdiu'o lYiiiu Halo Sept. 27. A Boeing spokesman said additional talks are gency ON DON Dutch Shell, the I 1 iXc City-base- 150-se- 5 second biggest oil said hursduv bet ter thud quartet piofits rt flev ted impt ov ed earn- d Inc , Salt Lake restaurant chain, reported a sharp increase in fourth quarter and yearly earnings for the period ending Two SEATTLE (AP) days of talks with rep-- ' resentatives of the Japanese aircraft industry on development of a airliner new have been productive," Boeing Co said '1- He said that while furthei flue tu.itums m i ates are probable no di astn drop mi has ixtui red m spune of i csO is led JBs Reports Gains In Fourth Quarter JBs Restaurants 20 19X1 Reuters News drop 1 ij Burnings Gain for Shell Oil developers and bickers are attending 1 ember Nov , it g four-leve- The Salt Confcivnro Da ...y Lending Options Discussed Thursday, Nov. 19, 1981 UP V""' nyfy SONY WALKMAN 1 HE ORIGINAL PERSONALIZED STEREO. 80 South Main EVANSTON. WYOMING Casin & Houts 800 f ront Street & |
