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Show ft? April 27, 1970 ML ft OOINS JOIIMAL I) Midwest stockholders get break as firm readies offering on TV chair BBOooy Mining men, who probably spend as much time in airports RICHARD BLACKBURN . o brainchild of life-lon- g inventor John W. Rich of Salt Lake City. No, its not a super sensitive sensor for charting the geology of the ' below-groun- d strata as you jet from Los Angeles to New York City, or Chicago to Houston. What it is, is a way to pass the time youre going to spend waiting at the airport. Its a television set, which may very well be as much of a boon to the bored traveler as Kentucky Fried Chicken was to the harried latest to hold on longer or sell? Name withheld. Dear Sir: LeRoy Corporation operates 1,148 apartments in the Las Vegas area from which they received $2,050,000 in rent monies during their last fiscal year. They presently have 300 more apartments under construction at an estimated cost of $6 million with completion scheduled for October 1970. In addition to the apartments they own two commercial buildings and the Moulin Rouge Hotel which grosses annually over a half a million dollars. Whether you should hold or sell is anyones guess. But with the continued influx of residents into the Ims Vegas area and the severe decline in home building it would seem to this writer that the LeRoy Cdrporation will continue to have a high occupancy rate for some time to come. Whatever is good for your company is usually good for all the stockholders. From their last report I noticed that Fiscal 1968 assets were $14,104,164 and 1969 Fiscal showed an increase to $19,934,926. Quite a jump!' coin-operat- ed housewife. And although it seems so simple one wonders why nobody ever developed one before, a man who has been involved in the development of both the Kentucky Fried Chicken boom and the television chair, maintains that for every great idea there is a season when it is great while at other points in time it is merely good. Jake Harmon, Salt Lake City grocery owner and entrepeneur who with his brother Pete was in on the ground floor of the food franchise operation, feels that now is the season for the television chair! Jake and John Rich, with Dear Mr. Blackburn: Your article of April 5th stating that ninety two per ceftt of all was the people will be broke or close to it at the age of sixty-fiv- e terrifying to say the least. The ten per cent pay yourself plan you outlined was a good idea. However, how does one manage to save ten per cent when: a) Our congressional representatives vote themselves a 41 raise? others, have formed b) The farmer receives less than he did thirty years ago for wheat, yet we pay five or six times as much for a loaf of staff of life? bread the c) Who can afford to eat butter for the bread when it has a price five or six times the price of the margarines? d) When you vote for a change of all this taxation without representation you don't get a change at all. Just the lesser of two corporation International to a Midwest manufacture and market the TV chairs throughout the United States. Midwest Realty, a corporation formed in 1958, owns one-ha- so-call- ed evk age of modernization in the mining field, will be interested in the 0 Dear Mr. Blackburn: I have held LeRoy stock for many years and just recently have found that there is a daily quotation in the newspapers for it. Can you supply any information on it for me to try to decide whether this in. as anyone lf of Midwest International. Another corporation, Continued on Page 7 International Movie Chairs, Inc. of California, owns the other half. Midwest Realty stockholders were given an opportunity until April 25 to exercise an option to purchase additional shares of Midwest at the original offering price of $1. Only Utah residents who were stockholders of record were permitted to exercise the option. The stock of Midwest is trading currentlyat $1.50 to $2. over-the-count- er The company plans a national MINING OF BOREDOM looks to be a profitable activity for Salt Lake City based corporation Midwest International. At top, waiting passengers take advantage of TV chairs at traffic terminal! Below, a workman puts fiberglas on chair at the company's Kearns, Utah plant YQD Can Profits an Image Build Create DSP1LAY A $2.00 a column inch. Qtsffsao: Wednesday proceeding desired OVER-THE-COUNT-ER Salt Lake City Only 2000 Univ. dub Bldg. publi- 134 L Sooth Temple Phone: 344-19- cation dste. CcS: INVEST WITH OUR MARKET SPECIAUSTS 71 and one of our creative representatives wdl assist you. 298-24- 03 J ui vega ,1721 L Charleston Nvd. Phone: 3S4-299- S iTovo 163 N. Univ. Ave. Phone: 374-4257 of Mi? west offering International stock in order to finance the dramatic expansion on its timetable. Expansion is fairly expensive, since the chairs are furnished to the point of use by Midwest International which furnishes the chairs and gives the airport, bus line, hospital, beauty shop, etc., 35 of the take for the use of the space, electricity, and collecting of the revenue. At a conservative estimate of $3 per chair per day revenue, the chairs, which cost $350 to manufacture and put in place, have almost a three-times-per-ye- ar payoff. The combination of no initial investment by the point of use, a new source of revenue, and a means of solving the problems of boredom by weary waiters, has made the TV chair an instant hit with t airport managers, bus stations and other observers and participates in the hurry up and Continued on Page 5 |