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Show 1 Page 26 4 ? i The Enterprise Review , Bank News Ibex Charges Monopoly in $7.5 Million Law Suit Protests from Utah County Under fire from two Utah County banks, proponents for the proposed Village Green State Bank will be subject of a public hearing November 1, 1976 at the Department of Financial Institutions, Salt Lake City. The Wasatch Bank of Orem and the Far West Bank of Provo objected to the proposed bank, saying banking needs of the community are already being met. Far West Bank stated five banks already serve the proposed service area. Village Green State Bank proponents are John K.M. Olsen, Joseph F. Ollivier, H. Mark Magleby, Calvin C. Magleby, Howard W. Barnes, Douglas W. Morrison and Norman Larry Agle. Holding Company Approved by Fed Ibex, Inc., a Salt Lake manufacturer of small diesel terminal tractors used for jockeying of tractor trailers, has filed a S7.5 million suit against Young Ottowa, Inc. and Gulf and Western Day-brook-Otta- Orem. According to Kay L. Jacobs, president of the Bank of Pleasant Grove, creation of the holding company would centralize computer, bookkeeping and marketing operations. and Western Metals Forming Company. The suit alleges that a Western Daybrook-OttawDeleware corporation, is in violation of Sherman Anti-Trust Act. Lowell V. Summerhays, council for Ibex, said that his clients complaint makes We bethree allegations. lieve that Western Daybrook-Ottawa has intentionthe ally monopolized market, Summerhays said. It is not illegal to be a he said, big company, but it is illegal to intention- - Classes Spur Competition have some additional but welcome competition. High school students from Utahs Granite School District have been building single and multiple family homes for the last six years. Wayne Brooksby, vocational director for the school district believes that builders, students and area high schools will all benefit from the vocational homes are appraised by Valley Mortgage Co. and are The sold by closed bid. homes usually sell for their appraised value, and revenue from the sale of homes goes back into the general district fund, he said. program. Eight area high schools participate in the building program and high school students have been doing the work complete from drafting the building plans to decorating and selling the home. To date, the student builders have constructed and sold 36 homes in the Salt Lake Price Discrimination Ibexs suit further claims that Western Daybrook-Ottawa has conspired to restrain trade and that they have illegally practiced discrimination by selling the same or similar products to different companies at different prices. H. Dougall Toyota internationally distribute small diesel terminal tractors used in freight yards. Summerhays maintains that his client's business is important to the states economy and he says that Ibex's business has been severly limited by the illegal practices carried out by Western Daybrook-OttawFurther allegations on page 5b a. Murray, Utah Being a car dealership , our buildings needed to be beautiful, as well as economical, J. Tony Hernandez H. Dougall Toyota Wcrc a local company, so wcrc not tied down The program has proven to be beneficial to contractors, despite the competition, because it provides builders with a hew supply of qualified workers, he added. Brooksby said the new . per- -- carpentry, masonry and elec- school. pres- ently occupies about 80 cent of the market. The H. Dougall Toyota sales and service facility posed a special challenge - a priority on beauty and economy. This challenge was met. By virtue of the ARMCO System's modularity, an attractive combination of glass, block, and ARMCO Steelox panels was constructed. They did a terrific job for us. The businessman wields it; SENTRY THRIFT supplies it. because many students move into building jobs with contractors right out of high Daybrook-Ottaw- a Integral Steel Structures did it consists of drafting, tile setting and plastering, plumbing, floor covering, cabinet making, dry wall application, trical work. Brooksby said the building program indicates a continuing trend toward vocational jobs rather than professional careers and, he claims, that area contractors are thankful for the program ern Ibex and Western Daybrook-Ottawa are sales and manufacturing competitors. Both companies produce and W.'i X' valley. The vocational training program teaches students all aspects of home construction, decorating, landscaping, accounting and sales. The construction curriculum painting and decorating, ally monopolize a market. Our figures show that West- Division, Gulf a, The Federal Reserve Bank of San Francisco has announced approval of the application of Deseret Bancor-poratio- n of Pleasant Grove, Utah to become a bank holding State approval of the holding company was company. in granted August, 1976 by the Commissioner of Financial Institutions. By acquiring all the voting shares (less directors qualifying shares) of the successors, the holding company will merge the Bank of Pleasant Grove, State Bank of Lehi, Mountain View Bank and the proposed Geneva State Bank of Area home builders i October 6, 1976 to national policies. At Sentry, wc work with you. And. if youre in a hurry, wc can be. too. We'll cut vou a check in less than a dav. BUSINESS LOANS. MORTGAGE LOANS. SAVINGS ACCOUNTS (HIGH INTEREST) INTEGRAL STEEL STRUCTURES quality construction, durable, flexible ARMCO's unique steel building systems make many things possible. component parts and precoated wall and roof panels allow quick completion... in any season of the year. Finish, structural strength and workmanship are guaranteed. Modularity makes expansion or alteration a simple matter. If time, money, and quality are important to you, contact Integral Steel Structures. Pre-engineer- ARMCO RIE11V THU TFT CORP 2285 So. Main (suite 11) 486-815- 1 V AUTHORIZED DEALER Armco Bunding Systems INTEGRAL STEEL STRUCTURES 444 So. 300 West - 210 Salt Lake City, Utah 84147 Telephone (801) 363-885- 8 |