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Show 10 Wednesday, May 9, 1979 Sun Advocate, Price, Utah The Church of Christ because of a fire will be temporarily meeting at in Helper Time: Sunday 10 a.m., 7 p.m. Wednesday 7:30 p.m. Call: 637-545- MCDONALDS GRAND OPENING DRAWS LARGE CROWD Grand Opening day activities at the new McDonalds restuarant in Price were a great success according to Ron Terry, owner of the new facility. 7 or 637-682- 6 Won serving CJG of the Utah economy during the past eight years is a reversal of the experience in the 1960s, when business activity in Utah was growing at a much slower pace than that of the nation as a whole. Between 1960 and 1970, the average growth rate in Utahs adjusted sales volume was 2.8 per cent per year. This was well below the average increase of 4.0 per Michael Baxter, of Bloomington, Illinois earned has membership in the Price, Millionaire Club of State Farm Life Insurance Company, it was annouced today. Baxter, an agent for State Farm since 1977, placed $1,000,000 or more of life insurance during 1978 to qualify for this recognition. This is the second year he has achieved Millionaire status. State Farm Life, celebrating its 50th anniversary this year, ranks 7th among 1,800 life insurnace companies based on personal life insurance in force. 208 South Main a PGDODJ The restaurants Grand Opening was held Sunday, April 22, with Doug Cross, a representative of the Intermountain McDonalds Cooperative Association, cutting the ribbon. In addition to the ribbon cutting ceremony was a presentation by Richard Tatton, Vice President, and Thelma Jones, secretary, of the Carbon County Chamber of Commerce who awarded Ron Terry a certificate representing his first dollar of profit. It was a great day for the children, too, said Terry. Americas favorite clown, Ronald McDonald, was on hand to greet an estimated crowd in excess of 2,000 who visited the restaurant during the Grand Opening. In addition to the Grand Opening festivities at the restaurant, Ronald McDonald visited the Carbon Hospital, Carbon County Nursing Home, and the Price Care Center spreading smiles and good cheer along the way. Gross Sales up 17.1 SALADS & DRINKS Try our TAKE HOME too! percent MONDAY THRU THURSDAY 11:30a.m. to 10p.m. FRIDAY AND SATURDAY 11:30a.m. to 12 12 p.m. SUNDAYS Noon to 6 p.m. Castle Rock Square 1199 East Main U.S. Steel Announces Dividends United States Steel PITTSBURGH, Pa., Corporation announced that the Board of Directors today declared a dividend of 40 cents per share on common stock, payable June 9 to stockholders of record at the close of business on May 4. Income for the first quarter of 1979 is reported at $42.0 million, or $.49 per share, on sales of $3.1 billion. These results compare with a loss of $58.7 million, or $.70 per share, on sales of $2.4 billion for the first quarter of Mountain Fuel Joins Pipeline Proiect 1978. In each quarter since the first quarter of Steels income has increased over the income reported for the comparable year earlier period. This trend should continue in the second quarter. The corporations return on equity, however, continues to remain far below the average attained by all manufacturing industries. Increased profitability is essential in order to generate the necessary funds to expand and modernize facilities and to meet environmental requirements. NEW YORK Second Quarter Economic Strength Forseen Foundation analysts point out that inflation has been a major factor in the increased dollar sales volume during recent years. When allowances are made for the reduced purchasing power of the dollar, the effective net gain in sales volume throughout the state last year was 8. 1 per cent. This compares with adjusted effective gains of 9.9 per cent in 1977, 7.8 per cent in 1976, 2.6 per cent in 1975, and only .7 per cent during the recession - plagued According to the First Security News Letter, economic activity is expected to strengthen in the second quarter, said Roy Hansen Senior Vice - President. Edited by Dr. Kelly Matthews, vice president and economist for First Security Company, the quarterly News Letter will be published this week. By the latter part of this year, however, the pace of economic growth will likely diminish, with an inflation induced downturn in business conditions extending into the early part of 1980. The major threat to continued economic expansion is inflation, according to the News Letter. Inflation went from bad to worse in the first quarter as producer prices rose 14 per cent, while prices at the retail level jumped about 12 per cent. There are no easy solutions available which will noticeably slow inflation in the immediate months ahead. Monetary policy is not expected to be altered significantly in the second quarter. Short - term interest rates could edge moderately higher, but significant tightening in credit availability is not expected. $46,710,000 in 1974. Utahs economy has been performing much better than that of the nation as a whole during recent years. The adjusted sales gain of 8.1 per cent recorded in Utah last year was twice as great as the adjusted personal consumption increase of 4.0 per cent throughout the U.S. in 1978. Utahs average increase of 7.4 per cent per year in adjusted sales volume since 1970 also was double the average annual rise of 3.7 per cent in adjusted personal consumption expenditures throughout the nation during this same eight year period. -- Kennecott Announces First Quarter Profits t 1975. with $63,707,000 in 1977, and and $46,710,000' in 1975. Mountain Fuel Supply announced that it will become Company today a partner in the western leg of a major new pipeline project known as the Trailblazer System. This project will gather and move large supplies of natural gas from the Rockies to consumers in the West, Midwest, and Eastern regions of the country. Gas obtained by the Trailblazer partners will be handled initially by existing interstate transmission facilities of Mountain Fuel Supply Company. This will reduce costs for all of the partners and will provide benefits to Mountain Fuel customers by making some efficient year - round use of Mountain Fuel facilities. The arrangement should also have a beneficial effect upon reserves available to the Mountain Fuel market area. SALT LAKE CITY -- Business volume, as measured by local sales tax receipts increased by 17.1 per cent in Price last year, according to an analysis just completed by Utah Foundation, the private tax research organization. Gross business volume throughout the state rose by 16.3 per cent in 1978. year of HOURS: cent per year in adjusted personal consumption expenditures throughout the U.S. in this period. Despite the generally strong economic picture in Utah during the past few years, the Foundation study notes that there was a hint of a business slowdown in Utah toward the end of 1978. Fourth - quarter sales throughout the state were up only 10.1 per cent from the 4th quarter - 1977 levels. The three previous calendar quarters in 1978 recorded year - to - year gains ranging between 18 per cent and 20 per cent. When these percentages are adjusted for inflation, it is found that the effective year - to year gains averaged about 10.8 per cent during the first three quarters of the year, but dropped way off to 0.9 per cent in the fourth quarter. Ordinarily, the fourth quarter, strengthened by Christmas sales, is the strong quarter of the year. 1978, U.S. The study shows that gross sales in Price last year totaled $74,599,000. This compares also SANDWICHES, The News Letter predicted that business activity in Utah in the second quarter is expected to improve relative to the reduced growth rates experienced in the first two months of 1979. The cost and availability of petroleum products, particularly in the summer months, is a major concern for the Intermountain area, as well as the nation. A 15 per cent shortfall in gasoline supplies will undoubtedly result in higher prices, reduces station hours and some lines. Utahs job market is forecast to remain strong in the second quarter despite some subtle evidence of softening in the first three months. The rate of unemployment in Utah dropped to 4.4 per cent, compared with a 5.7 per cent national average. Residential building permit activity in Utah remained soft in the first quarter, but, should improve in the second quarter. Residential real estate sales volume remained strong in the first quarter with unit sales down only 5 per cent. Reflecting a sign of caution, the pace of consumer spending and retail sales in Utah is expected to improve in the second quarter. Retail sales tax collections reflecting sales made in the fourth quarter of 1978 declined abruptly, and consumer spending probably remained soft in the first quarter of 1979. Demand for commercial bank credit in Utah slowed in the first quarter but is expected to strengthen in months ahead The report observes that the strong showing MICHAEL BAXTER ACHIEVES MILLIONAIRES CLUB We've tried radio, TV and other newspapers, but we find that we get the best dollar return on our advertising when we use the Sun Advocate! 7:30 Thomas Barrow, officer of Kennecott Copper Corp., announced today that Kennecotts net income for the first quarter of 1979 amounted to $21.2 million, or 64 cents per share, a 300 percent increase over the $5.3 million, or 16 cents per share, earned in the first quarter of p.m., Monday, May 14 on Highway Eagles Lodge, Price, Utah 6 aid P SOCKET POWER TOOLS Bench Grinders 2 ' ,12.3 ITEMS Radios Stainless Steei Toblewive Rubles & Dictionary Electrical Appliances Stainless Steel Waterless Cookware Cutlery & Knife Sei Hurricane Lamps Large Assortment of Jewelry AIR C0MPRESS0RS-AII 34 Impact Wrench Orbital Sander but we will point out the advantages of a regular display or classified program for your business To find out part of the secret of Brad's success call 637 0732 today Drills Polisher Hammer Point Sprayer Guns THIS IS A PARTIAL LIST Of TTTMS TO NOTIU m well WOTIM AH MR or i a it At Mtw MATeOWAtlV AVCllOA nmk SUBJtCT TO 14U PRIOR SALT TERMS CASH or CHECKS avoion to twt MOMttt woma rwovNo o IttM. ft tU PA fOV 10 MV NAME Conducted by WOODRING AUCTION Grover Street OMAHA, i - ALL AAVOT1M Sflfo WiM B 637-073- 2 Bf SOLD NOT RESPONSIBLE FOR ACCIDENTS MERCHANDISE GUARANTIED (LI Ini TOOLS R 2" Impact Socket Set 3 8 Atr Impact Air Chisel Air Grinder Angle & Straight Ait Rochet 3 4 Imparl Socket Set Aif Compressor ALL 2 H P I 4 ' Socket Sets 4 , 38 Booster Cables Torque Wrench, Drill Bit Sets Cham Hoist Plumbing Tools Metic Sockets and Tools To1 8 Carpenter Tools 3 '8 ' x 14 Log Chains HOUSEWARES-GIF- T prospective customers. That is better coverage of our area than H P SUPPUES T00LS-FAR- M SETS-HAN- D 34 HD Drills Electric Hand Sows 75 p c HD Tap & Die Set Socket Set Heovy Duty Copper Power Cords 25 to 100 Open End Box End Wrench Set All Kinds Tool Box full rf tools, All sues Ad Wiench 4 io 18 Hydraulic Jacks Flex Wrench Set Trouble Lights . Drop Cords crnd Hand Tool, Alt Kinds 12 Pc Punch and Chisel Sets 3r8 & 12 Deep Well Sockets Air Air Air Air 2 H P 12" Elec 3 8 68 any other medium If you would like to discuss the advantages of a regular advertising program in the No 1 newspaper in Carbon county, please contact our advertising department today No obligation of course, fast of Prjce p.m., tuesday. May 15 the Overniter Motor Inn, East of Green River on Highway 6 & 50 7:30 Heovy Dufy Drill Presses Heovy Duty Steel Bond Saw Bolt Cullers Electric Impact Wrenches Open End Box End Wrench Set up to 4' 5 Machines! Bench Vise Weekly over 8,000 households in the Carbon and Emery area receive the Sun Advocate. That means a potential of over 20,000 1978. Despite the increased earnings, Kennecotts return on shareholders equity amounted to only 6.1 percent on an annualized basis, he reported. Income before taxes and minority interests amounted to $31.8 million in the initial quarter of 1979, an increase of $19.7 million over the $11.5 million earned in 1978. Included in the pre - tax profits for this years quarter was a total of $13.1 million, $7.3 million from the sale of an undeveloped coal property and liquidation of LIFO copper inventories of $5.8 million. During the 1978 first quarter, pretax profit included $16.8 million of income from the sale of a portion of inventories of unrefined gold and silver. The effective tax rate for the 1979 quarter was 30.4 percent. In 1978, when certain operations incurred losses for which no tax credits could be recorded, the rate was 52.9 percent. INDUSTRIAL-SHO- ill D. chairman and chief executive NEBRASKA Phone 14021 134 (422 M144 ouail Mu IO |