OCR Text |
Show Page twelve The National Enterprise , July 21, 1976 Terminate Talks Zoller-Danneber- g DENVER Kenneth I. under its new' name Premier Danncberg, president of Resources. Ltd. Zoller & Danncberg, Inc., a Danneberg announced Denver based independent gas and oil exploration, dev- that the company had recently completed the construction of elopment and production an $800,000 gas processing company, announced that the plant and related pipelines in company had terminated its Alberta, Canada, in the Gas Field. After 30 merger discussion with various companies and will direct days of testing for operational future activities toward the efficiency, the plant is curcontinued development of its rently processing at the rate of U.S. and Canadian properties 4,000,000 cubic feet (4,000 For-estbu- rg mef) of gas per day, which represents approximately of the plant's present 60 capacity. ZD I owns 73 of these facilities in partnership with the Pegasus 1972-- 1 Oil Explor- ation Partnership of Philadelphia, Pennsylvania, owning 20 of the project. Further development drilling of the Companys Forestburg properties scheduled for mid-summe- Results Level at United Banks Mid-Yea- r is r. United Banks of Colorado, versus $1,815,000 last year. Inc., (OTC 17.25, 17.75) a Earnings per share for the multi-ban- k holding company, period were 59 cents comhas reported generally level pared to 58 cents. For the first six months, operating results for both the second quarter and first six income before securities months ended June 30, 1976 transactions amounted to $4,158,000, an increase of 2 compared to a year ago. Neil F. Roberts, presipercent over the $4,093,000 said secincome before dent, reported a year earlier. Per urities transactions for the share earnings dipped slightly second quarter was $1 ,976,000 to $1.26 from $1.30, a decline of 3 percent. Net income for the second quarter rose to $2,024,000 from $1,820,000 last year, and per share earnings were up to cents from 57 cents. net income advanced 3 percent to $4,272,000 from $4,137,000, while per share net income dipped to $1.30 from $1.31. Roberts said the loan demand, contrary to the national trend, continues to be good. Total loans, he said, increased 13 percent over June 30 last year. Average loans for the first six months were $775,595,000 compared to $719,254,000 a year ago. He said pressures on interest rate spreads, however, have continued to affect the companys performance. assets equaled 61 Six-mon- Swt'ie comiameA Non-accrui- th ng $26,183,000 on June 30, down from $3,588,000, or year-en- d 1975. 14, During the first six months of 1976, our subsidiary banks showed a provision for losses of $2,136,000 compared to $1,590,000 for the first six months of 1975, Roberts said. United Mortgage Company, our mortgage banking subsidiary, added $312,000 to its reserve for losses during the first half of the year compared to $860,000 for the same period of 1975, and $2,720,000 during all of 1975. Permaloy Seeking Funds For further information please call James Harrett , Chairman. Area Code 208 356-422- 9. First Lombard Corporation Investment Bankers Salt Lake City Idaho Falls continued from page ten year. And into their fiscal year by only 45 days, Permaloy has firm orders totaling 425,000. Weve set a sales objective of $2 million this year, James said. Permaloy Manufacturing Corp., Ltd., the companys first licensee, will begin photochemical etching operations in Edmonton, Alberta, Canada next month. While the operation is smaller than the Ogden plant, the company has already received contracts from all government offices in Alberta for indoor and outdoor signs. With orders in hand, James said the licensee should produce approximately $150,000 in royalties for the company. Its probably not the best license wre could have gotten, James reflects, its our first." but |