| Show r§ $ 6B Cgien rer Stj'da'a-Ena- 8 1SS5 November Sai-'- U§M©§§ Amoco to halt leaded gas sales DAN CUNNINGHAM asss'a't e Amoco will stop selling B s' J also plans to sell leaded fuel Executives at the Brigham firm have discussed leaded fuel but are not ready to go public with plans said Phil Adams executive vice president About 40 percent of Chevron Refining Co’s product at North Salt Lake is leaded gasoline said refinery manager Jerry Moffiu “We have made no commitment to change facilities or production" MofFitt said He added that the federal Environmental Protection Agency has ordered a 90 percent reduction in lead content from 11 grams two years ago to 0 grams in every gallon of ed'or leaded fuel in Utah and other states by the end of next year the company announced Friday However other Utah refiners can't say when — or if — they will follow suit Phillips still plans to sell leaded fuel at least through the end of 1987 said Jim Woods Phillips refinery manager at North Salt Lake Woods said Phillips will sell leaded fuel as long as it is profitable “But we will do what the market dictates" he said Utah’s largest independent oil company Business in brief S'anciar3 leaded fueL “Ninety percent of the lead is already out They have already done it for all practical purposes" Moffiu said For health and environmental reasons the EPA is expected soon to announce a ban on the sale of leaded gasoline effective January 1988 the Associated Press reported Friday Amoco is the first major US refiner to announce it would voluntarily phase out leaded gas ahead of the EPA schedule Amoco will stop selling leaded gas at 600 Chicago outlets Monday and will phase out leaded gas sales by the end of next year Flying Fed is facing a critical challenge By DAN CUNNINGHAM j"Cjrd Eammcr assistant business editor LOGAN — The Federal Reserve Bank must keep the U S economy fired up in 1987 without rekindling inflation That’s the critical challenge facing the nation's money supply overseer former Fed board member Lyle E Gramley said at the annual Utah Banking Association seminar at Utah State University The Fed doesn’t want a US recession right now because the Japanese and West German economies are still sluggish Gramley observed If the all three nations have multaneous economic slowdowns there could be a re- ’ cession “I think the chance of that happening is highly unlikely But if it did it would be a disaster” he said So the Fed’s current course of action is clearly oriented toward US economic expansion That means lower interest rates fueling could be implemented early next year if an economic downturn beGramley said For now Gramley expects economic expansion to be stronger this autumn than it was in the summer Tax reform is pushing spending that would normally occur early next year into this year so that buyers can take advantage of tax breaks that are still in force “People planning to buy an auto or VCR will do so now So will companies that buy fleets of trucks and cars” But the economic surge could subside early next year as the growth rate for consumer spendgins ing slows A slowdown in business investment and excess manufacturing capacity will also hinder economic growth early next year Congressional attempts to rein in federal spending will also slow economic growth over the near term “Deficit reduction is good for $ the health of our economy Indeed it is essential” Gramley observed that both Democrats and Republicans — over the objections of the Administration — are now working together to slow the growth rate of federal spending to its lowest level in 20 years But slowing the growth of federal spending will have a substantial impact on gross national product Gramley explained Purchases by federal state and local government have soared in recent years and now account for Lyle E Gramley of GNP On the bright side Gramley exhappen But we will see steady pects business to continue buildprogress” ing inventories while the US Gramley foresees 2Vi percent begins to export more goods and economic growth over the next services overseas four quarters including the cur“We are looking at increases in rent one “The first half of next the manufacturing sector that are year will be weak but it will pick as strong as anything we have up as we go along” seen since World War II He also foresees the Consumer “Our manufacturers are starting Price Index rising to 4 percent to see the light at the end of the next year compared to this year’s tunnel No miracles are about to 2 percent rise O NYSE trading this week NEW trading New York Slock Exchange (AP) week selected issues' annual ratio (PE) shares traded hundreds (Hds) (or week (or week (Low) closing price Friday (High) (Las' and price change since previous week's close ' Northern Utah issues (Friday closing Examiner California is still the leader in electronics employment even after losing 20000 jobs California’s total of 556000 electronics New York with jobs in 1985 compares with that of runner-u222000 About 50000 electronics jobs were lost nationally last xear according to the American Electronics Association Boeing Co will begin screening prospectixe employees for s drug use Feb I The aerospace giant is the Puget largest employer and has 114000 employees nationwide including Wichita Philadelphia Huntsville Ala and Oak Ridge Tenn The company’s largest union and the American Civil Liberties Union protest the testing plan People Express Inc has given its public creditors another six das to agree to interest rate payment cuts that Texas Air Corp is demanding before it will buy the troubled airline The original deadline of midnight Thursday passed with 74 percent of the affected debt securities being exchanged at the lower rates Texas Air is demanding that 84 percent of the securities must be exchanged for debt issues General Electric Co will close its Phoenix-linmedium motor production department and lay off about 825 workers The layoffs will bring job terminations announced this year at GE’s Schenectady NY facility once its international headquarters to more than 4000 Emerson Electric Co has agreed in principle to sell its outdoor power products division Eater to AB Electrolux of Stockholm The sale is subject to approval bv the Swedish Central Bank and other filings Beaird PoulanWeed Eater manufactures gas and electric string line trimmers and other portable garden tools and chain saws It has manufacturing and distribution units in Arkansas and Toronto and is headquartered in Louisiana An agreement has been reached to extend the shipment of Alaska coal to South Korea through 1988 Usibelli Mine near Healy the Alaska Railroad and Suneel agreed to absorb a 15 percent price cut to make Alaska’s prices competitive with those of Canada and Australia said Bill Noll vice president of Suneel Alaska Corp Mobil Corp is withdrawing from the sale of gasoline and diesel fuel in all or parts of seven states because the operations are not profitable The retrenchment is the latest in a series of cutbacks by Mobil which is concentrating its investments only on the most promising markets and business segments Mobil is dropping sales in Iowa South Carolina most of Georgia and Missouri eastern Oregon eastern Washington and the Cleveland metropolitan area MARKET REPORT Most active stocks Activity over the past 30 trading days 1950 1925 1900 1875 1850 1825 1800 1775 1750 1725 1700 1675 1650 1625 prices) Albertson's AYR AZP AbtLbS Industries 264 (Jetwav) AirPrd Nucor Steel Corp AlroSld 292 s Mutual funds Amax AmHes ABrnd Mutual fund AST Utility Income Affiliated Fund bid asked 84 Am Gen Pace Am Gen Venture Dreyfus Fidelity Equity Fund Fidelity Trend Hutton Bondlnc Hutton Special Equ Hutton Growth Inv Co of America Lord Abbell Dy Gr Mass Inv Growth Mass Iny Slk Trust Merrill Lynch Basic AElPw 226 AmExp AFaml Amrlch AlnGro ArrS'd ArrStor Ametek Amoco AVP Anacmo Anchor 77 23 90 29 30 36 85 85 j 00 46 83 44 --- Avery J Avdn i '4 I j C'wnCk CumEn 220 CjrlW bny BNY$ s KerrMc 248 KnghlRd Kooers Kroger Biased Bax'Tr Becor --- -- '4 - '1 II SquarD Squibb Staley SierlDg StevnJ '4 Oxford Syntax si Sysco s Gpnscb GaPac GfroPd viTacBI Talley Tandy Tndvcfl Tektrnx Teidvn Teiex Tennco 304 Tesoro Texaco si Texlnsl TxPac TexUhl 268 Textron Tigerln Tim TimeM Timken Toknm Tosco Transm Transco Trnwid s GidNug GJrich Goodvr Gface G'AiPc G'NNx G'WFm G'fyh Grumn G'Ast C - Luken ' Ha'i"d PhiiMr PhiiPet Pilsbry J I P'lnvB 132 Pittsm Poland PortGC P'oetG II Harris Hets s BackO BHR B'eng PSvEG 796 Pupe'P PuiieHm Pvro OutxOt Ouaxso Ouettar HedaW He mn 'I Hf'ruS H'sfv t MfwPx day E: pC3 Bc'den si Bo'gA Bnfdll’8 B' - 3 Nov nl 34 Bes'Pd Be'fS'l 27 NEW YORK (AP) The following gives the range of the closing Dow Jones averages for the week ended Nov STOCK AVERAGES First Low Last High Chg Ind 04 1886 Trn 84963 84500 967 Utl 210 210 67 209 209 40 65S!k 750 94 746 65 BOND AVERAGES 20 Bnds 9203 92 9164Utils 93 96 0 Indus 9053 90 COMMODITY FUTURES INDEX 42 84 12101 076 OhloEd OklaGE 208 - - G'Mill GVot GV GPU -- 'i ConsPw Cor'el CmCd2 C'Daia Coooe' vBadU Ba'vMI Bai'GE 1 ?0 October Dow Jones range 5 30 -- d!0 Cc'Gas II CmbEn Comd'e CmwE Comsat CcnsEd 268 si AnasCo Ajgai 13 Sept 90 days Notes Treasury Ganneil C'Coro GnDyn GenEI 232 CnHous Gnlnsl si 'a 29 60 days 86 24 Coas'al ArchD s A'mco A'mWin Asa'co Merrill Lynch Cap Merrill Fed Sec New Perspective Dir Oppenheimer Oppenheimer Spec Pioneer Fund Pioneer Putnam Growth Putnam Investors Rowe Price Templeton Growth Templeton World Windsor NEW YORK (AP) —The following is a list of the most active stocks based on the dollar volume The total is based on the median orice of the stock traded multiplied by the shares traded Name ToKHOOO)Sales(hds) Last CPC Inti 81313170 159899 270 y Hmjixp 'PI ' '2 RJR I- t 160 -j no I a 1 II 'a a l j 8 -a- 2- Trvlr -- TriCon Tribun Tnco Trmov TucsEP -- la RaisPur 110 f I I'd 8' vn B"g Eas'Ar ( jvgf 260 CGNA260 CNV tk'd 19 i) 15979 : n::o C4sar 4V9 2' Cku -- I) l) - ) '4 ’i no :S 252 f I'on Ec" EmrsEII "pa E'S'Ch I’b I S9) 714 " -f I I'd '7 4 r ”4 '9 'I ie"P ! Raoco RangrO Ravlin ReaoBI ReichC Rvkm u)2 II ti ' 5n Hciui'd Hg"Ti Rmd -- 134t IM ins 104 I - 204 U5FG237 2D0 69 29a --- Unfic R'4d 5)4 l RoM Rxi RHaat I Rohr Rortr Rowan Nl i UCarb I I II 'I II It 7127JI llPionn si U5LIFE U'aPL 'a 1514 NLngE NnM t II N'Sa'ni Na'tif NPw - 4) II 4'4S l2 4) 'a loir) aVP 140 NxVUI III lO'l? VI im 4' I l'2 11 -- U It ID? -- )l ‘I Pel MV" Mv'l a H 7i s' '1 II Nt'o' inJ Ni k'”n I 14 2M I I) II III 3' '70 7' O u'7 VIJ 'HS 3) h Sa ' )ul lu -- 4a V I I i V 04 1Vit ami I4iIS4' 60 MV 4 - )i r di’a V N"5 N' Nn I 9l N Nace Na'D'Si 770 Na'f ) -- i UnTfcn UniTl -I d) - i II UnPac U"Bmd - M U I 4S4 ii V - r |
