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Show The Enterprise Review , August 18, 1976 Page 6b Holland Equipment Company Expands at New Location Til V 6StOFS Dd.llk OH factures cutting edges, wire rope and nylon slings. Gordon Jensen, president Holland of Equipment Co., said that his company's new facility will enable Holland to increase production and give his customers faster, more efficient service. The Holland Equipment Co. of Salt Lake City has moved to a new building at 2420 W. 2100 S., just off Pioneer Road. The new 20,000 sq. ft. building is constructed of precast panels built by Buehner Concrete Co. of Salt Lake. Founded 23 years ago Holland Equipment manu Commercial Security Bank protested at a public hearing last Wednesday a charter application by Norton Parker and others to establish a new unit state bank at 2182 South State Street in Salt Lake City. At issue were the impact of Parkers proposed bank on a Commercial Security branch at 130 West 2100 South and the propriety of Parkers desire to establish such an institution. Commercial Security, among other things, claimed the new bank, to be called First City Bank, could not provide services to the area that were not presently being met by surrounding bank facilities. Legal counsel for Commercial Security, David Salisbury, also said in closing statements that the ink was barely dry on the sale document of the Bank of Salt Lake to Commercial Security before Norton Parker had applied to establish a competing bank in the very area of one of Commercial Securitys KEEP IT MOVING! If you want to keep your business moving, the Review can help. If you're running a business, you cant afford to be uninformed. The more familiar you are with your total business environment, the better able youll be to take advantage of its opportunities. Because the Review is a specialized publication, we can provide our readers with the most complete, accurate, and diverse reports about the Utah business scene. Growth centers, sales tips, retailing information, advertising analyses, real estate, finance, investment opportunities, industry trends, legislation, management problems (and solutions) and more. It's all in the Utah Enterprise Review each week. Utah business is on the move. Move with it. i - 3TK6r Utah economist Milton Mathews, witnesses testified to a man that they were staking the success of the proposed bank on Norton Parkers experience and acumen as a banker. Parker himself testified that on May 1964 when the Bank of Salt Lake began with assets of $1 million, he built it to $17 million plus and brought it from 53rd to 16th place of 54 banks in the state by the time he sold to Commercial Security at the end of 1974. During those ten years he lost only four customers major accounts because they grew too large for his capabilities, he said. The Bank of Salt Lake, however, retained their auxilary accounts. Parker added. bank is necessary, Parker testified, because businesses in the area suffer from the "big bank syndrome. Regardless of the size of the business, he added, certain types of people prefer dealing with the chief executive officer of the bank rather than a branch manager who tells them I'll take this A new unit branches. Parker had served the Bank of Salt Lake as up with my superior." In addition, Parkers economic data president until Dec. 31 , 1974 when Commercial of 92 the Bank percent purchased seemed to support his premise that South Salt Security for made Parker stock. application Lake is a dyanamic area of growth and could outstanding the present bank charter in April 1976. easily support a new unit bank. It is second in counthe state in wholesale volume with $212 million Applicants counsel. Carman Kipp, should tered that the Banking Commissioner in annual sales and employees in the area not even consider Salisburys argument since, account for 9.3 percent of the Countys after selling to Commercial Security in good workers. faith, Norton Parker, like anyone else, had the Other protestants of Parkers application free agency to apply for a bank charter. Witnesses called to testify in behalf of were Walker Bank, Pioneer Bank. Citibank, Parker's application were also named as N.A. (who had protested Parkers original spelling of the name as First Citibank) and proponents of the bank: Jack B. Neilson, G. Alfred B. Weigel and A. A. Cheney. Laury Miller, John M. Rapp, and Martin T. None of the other protestants were present Besides supporting economic data Hart. presented to the Commission by University of at the hearing to make their case heard. SUBSCRIBE TODAY (you really jiot JJafford send me the Utah Canyon Condos Open Yes, please Enterprise Review. Enclosed is an $24.00 check to cover my one-yesubscription. P.O. Box 11778, Salt Lake City, Utah 84147. ar Name Company Name. Address .State. City BRING THIS AD IN fora10 DURING THE 123-2n- Zip 10 DISCOUNT Salt Lake City dentists Burton Todd and Keith Lignell, owners of the $10 million Canyon Road Towers Condominium, have formally opened their building for business. Avd Located at enue, the Tower has been partially occupied for several But landscaping months. and interiors have been recently finished. Construction financing, though Womens Federal Savings & Loan and perma-men- t single women to obtain financing to buy the units. The Towers offers two tennis courts, indoor swimming pool, exercise room and sauna. financing, through Womens Federal and Western Mortgage & Loan, has been said to encourage General contractor was Christiansen Brothers, Inc. Architect is Ron Molen. ON PRINTING AND PHOTOTYPESETTING MONTHS OF JULY AND AUGUST. OFFER VOID AFTER SEPTEMBER 1ST. Option Market News by IT'arrvn M. ketch am, Ph.l). Viin. htngltcinrich & (Irvvr PHOTOTYPESETTING The stock market continues in the August doldrums. Option premiums slipped slightly this week which is to be expected in a stagnant market. It is likely that this scenerio will remain with us the rest of the month. Another report on option writing versus market performance has been released by Blyth, Eastman. They examined a model portfolio consisting of 51 CBOE option stocks, with close to the money options written every three months. The results of a three year study shows the option writing portfolio up 38 versus the market average up The value line option portfolio, which includes all underlying stock and options, give the following result for the past 1 13 years. Option writing portfolio up stocks only portfolio up 20; option buyers portfolio down The results of these and other studies show without exception that option writing outperforms the market. It continues to amaze me that the majority of professed conservative investors continue to buy stocks only when buying stocks and writing calls will on average give the investor a significantly better return with less risk. 5. IPEKsOlt 255 West 000 SouthSalt Lake City, Utah FREE PICKUP AND DELIVERY 30; 78. |