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Show supplement to the National Enterprise WESTERN AMERICANA' Business Calls for Policies Utahs economy and As Women File Bank Never before has Bank Racine, president of the newly Commissioner Smoot Brimhall formed bank holding corporareceived an application for tion, we will become the first charter quite like this one! women's bank in Utah." Filed with the Depart If the charter is granted, ment of Financial Institutions the Beehive state will become June 21 was a bank charter the third to have established application for the First Wo- such a precedent among men's Bank of Utah. women. New York saw the We dont intend to be- First Womens Bank open its come the 119th bank in the doors last October, while Cali- Salt Lake valley," said Janet fornia boasts the Womens Bank of San Diego and Western Womens Bank of San Francisco. On the horizon, First Womens Bank of Boston is looking at a fall opening and the Womens National Bank in Washington D.C. has a January 1977 target. Women of Utah also deserve a banking institution which will provide them the atmosphere of equality with men and services tailored to womens needs which are not available to them in Utah at the present time," Racine said. She speaks of women who are frequently required to have their husband's guaran tee or signature on any credit card application. Widows are often required to open bank accounts or take out loans in the name of their deceased husband. Divorcees have a similar problem, she added. While equal credit laws prohibit discrimination on the basis of sex, Racine said they havent been altogether successful in eliminating the practice. Public Offering Ownership of the First Womens Bank of Utah will be shared by the women of the continued on page 5b population have reached record rates of growth, participants of the recent state-wid- e conference on Utahs Financial and Growth Opportunities expressed repeated concern about their ability to cope w ith change accompanying that growth. The Conference, held last week, featured representatives from Utah business and associations. government After morning discussion sessions, participants reported on the major issues concerning them. Policy statements from federal and local government was the most repeated concern. Miners and oil people wanted a federal , energy Manufacturers want- policy. ed an economic policy. Farmers wanted a national food policy, and a state policy regarding water allocation and land use. Bankers wanted a plan that wrould insure orderly change from paper to electronic financial transactions. continued on page 5b 5?e related story, this page 1 To Grow or Not to Grow by Mary McMillan Gaber Janet J. Racine , president of First Women s Bancorporation of Utah says , We don t intend to become the 119th bank in Salt Lake valley. We will become the first women fs bank. and Share Alike ? Share Not a Good Idea f stop using wasteful products, stop consuming so much. Utah has been growing at We need to plan, and . Ian increasing rate since 1965, we need to plan together. ;when the legislature estabPeople are afraid land use Promolished the Industrial planning means socialism. of Commission. Much But we need to control tion that growth can be attributed growth, he continued. to the' combined efforts of what is now the Department of Dcnc Growth Development Services, and Bert Carlson, formerly ;the many arms of the depart-men- t, to attract new industry director of Utah's Manpower to the state. Planning department, had a But even the head of that similar response. We need to define department, Milton Weilen-manexpresses concern that growth. We need to set up eventually Utahs growth alternatives. We have enough Imust be limited. water. The only question is, We dont need to stop what do we use it for? growth. We need to control Agriculture? Industry? Resjt," he said in an interview idences?" Carlson asked. We need a with the Review. "The issue isnt growth land use plan. We need to or Its what kind think about conserving energy of growth, he stated. md materials. We should Where do we want to go? If our goal is to provide job opportunities, should it be to provide those opportunities for women? Or is our priority a clean environment? We need to answer these questions, he said. But Sherm Janke, scientist and teacher at the University of Utah, is not so convinced these men are right. We cannot keep growing," he stated. We are limited by finite resources. Utah is only part of the world." 10 l.hi. i . n, Milton Weilenmann growth decisions are sprouting throughout Utah. Residents of central city, Salt Lake and in Midvale have asked city officials to stop development. Bountiful officials are trying to determine the future growth pattern for their community. Recently defeat of a Park City sewer bond issue pointed to the need in that community for decisions about future growth. City officials are currently wrestling with the ramifications of the voters decision. And as Utahs population continues growing faster than that of any other state in the country, its place among the growth and becomes increasIssues Abound ingly important. Urahs birth rate is 70 While these men debate, percent higher than that of the continued on page 3b issues based on growth-n- o no-grow- th. Although the American free payments, unemployment enterprise system has been able to accomodate considerable sharing of income with the less fortunate, the recent compensation, social security benefits, public employee retirement allowances, veteran pensions and related benefits, trend toward economic etc. uni- formity is eliminating a basic motivating force in production and is threatening the free enterprise system itself. This point was emphasized yesterday by the Utah Foundation, in its latest study of transfer payments in Utah. The U.S. transfer payments are amounts taken by gov- ernment from the income de- rived from the production of goods and services and redistributed to individuals who render no concurrent service for such payments. They include such items as welfare While social security originally was devised as an insurance program with benefits paid from trust funds accumulated from worker and employer constitutions during productive years, sufficient reserves never have been accumulated to meet incurred liabilities. Rather, the expansion and liberalization of the program over the years has brought the system to a point where current payments to eligible recipients now exceed current collections continued on page 6b ff M V Sherm Janke . no-grow- th con-trovers- ey |