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Show The Enterprise Review , July 14, 1976 Option Market News by II Vim'll M. Kvlclmin. Ph.I). Prinvv. hinphrinrich & (Irvvr For the third week in a row, the market as measured by the Dow Jones Industrial Average went nowhere. Glamor stocks, Numerous options on however, were especially strong. Polaroid, Teledyne, IBM and Upjohn gained 50 percent for the week. Many of the chemical stocks went down after a report that DuPonts quarterly earnings would not match last years. Consequently, options on DuPont, Monsanto and Dow dropped sharply. This volatility in the options market is typical, and is part of the reason that options have attracted so much interest. In another area, the Securities and Exchange Commission announced this week that put option trading will be postponed until after January 1, 1977. The SEC said that reasons for the delay include the rapid growth of options trading, the unique nature of the trading vehicle, the need to acquaint the public with options, and a large number of regulatory and The investment community was surveillance questions. generally disappointed by this decision. Page 3b Business Initiates Power Base in City Government Through Study Although city and county departments compile data, they do not evaluate or analyze it. So, although information about how to improve the operation of local government is available, it has not been used. Pleading too much politi- We should determine what government should and shouldnt do, added another. We should ask, When does government its overstep bounds? Cooke said the Chamber study could play a major part in the upcoming battle between local and federal gov- funds. He said Congress is considering the requirement of city and county government consolidation in order to qualify for funds. With our will we have the facts study behind us to prove whether consolidation saves tax money or not, Cooke said. Corradini said she anticipates the committee will have established a plan of action within a few weeks. cal involvement, Salt Lake commissioners have said they cannot fairly evaluate the information gathered by their ernment for revenue-sharin- g They have departments. asked the Chamber of Commerce to do the job for them. Peter Cooke, Director of Government Affairs of the Salt Lake Area Chamber of Commerce has gladly taken on the 3240 South 11th East This is a task major job. Salt Lake City, Utah 84106 victory for the business com1 Phone (801) munity, he declared during a recent meeting of the Chamber committee on city and This is county government. our opportunity to establish a American 22" x 60, taper attachment. power base in the city govSummit 11 x 32, new tooled. 486-355- SPECIALS Lathes: ernment, he added. Businesspeople have been complaining Bank News one member services aspect, said. that city government does not operate efficiently and is too powerful, he continued. This task gives them an opportunity to initiate changes. Dee Dee Corradini, public relations director of Snowbird Corp. and chairwoman of the committee, told members past analyses of local government have been only recommendations not necessarily based on facts. She told committee mem- bers commissioners Mills: Bridgeport BRJ 9 x 42. Cincinnati HA universal 16 x 78. Drills: American radial 4 12. x Saws Wells horizontal 9" x 16. Shears: Hercules 12 x 12" hyd. Brakes: Chicago leaf brake 8 x 14 ga. have offered to grant the Chamber $10,000 to conduct the study. Members of the committee appeared enthusiastic about the prospect of initiating the in Salina V. tourism the of Rawlin The application expected Its about time we project. coal area. business The east and Barton Jacobsen, George looked at government from the Curtis J. Armstrong to estab- of Salina was also instrulish a new unit state bank in mental in BrimhaUs decision. In making his decision, Salina, Utah has been ap-- . proved by W. S. Brimhall, Brimhall overlooked the objeccommissioner of Financial tions of four existing banks in Institutions State of Utah. The the Salina area.' The banks in proposed name of the bank is opposition said the economics of the area could not support Sevier Banking Company. The application was ac- another bank. Opposing Bank of State banks were First cepted on the merit of the recent completion of Interstate Salina, First Salina Bank, 80 through Salina and the Gunnison Valley Bank and expected economic impact of Valley Central Bank. Bonk Approved in Satina Complete warehouse full of machine tools. All sizes and types. NEW AND USED Buy Sell Liquidate St. Georgp Bonk Charter Denied An application filed by Don L. Ipson, Jr., Nicholas Hammer and Paul Eardley for permission to establish a unit State bank in St. George, Utah, has been denied by commissioner of Financial Institutions, W. S. Brimhall. Brimhall .based his decision on the current status of competition between the three existing banks in St. George. It is debatable whether the banking market in St. George can adequately support a new bank at this time, Brimhall said. He pointed out that neither of the two unit banks which have started in St. George in recent years had deposits in excess of $10 million at the end of March, 1976 and the newest bank in the area has deposits of less than $3.5 million. There is a competitive banking market in St. George at the present time with three separate banks having offices in this community of only 13,000 people. The introduction of a fourth bank and new competition into this limited market at this time would appear to have an unreasonable competitive impact on the new Bank of St. George, Brimhall said. When speed is necessary, a metropolitan airport isnt. If your time is valuable, driving to those places can be expensive, as well as arduous. Consider a charter from Thompson Flying out-of-the-w- ay Service. Within a Salt Lake City radius of 500 miles, well set you down in two and a half hours or less, in almost any spot where you have business. (There are over 700 airstrips within this radius; only 20 serviced by commercial airlines.) AtThompson, we consider metropolitan airports a luxury, not a necessity. Short notice, day or night-w- ell get you there fast. Call us today for rates. Your time is worth it. Thompson nz 2? . THOMPSON FLYING SERVICE, INC. Salt Lake City International Airport (801)364-643- 8 |