OCR Text |
Show The Enterprise Review , October 27, 1976 Page 2b Mtn. Fuel Building Addition Scheduled for Spring Completion Option Market News Mountain Fuel Supply's $1.5 million building addition is "on schedule." woman, construction began in June, 1976 and is scheduled for completion in late ry, According to Susan Dudley, company spring, 1977. "The steel work is up spokes and floors are poured. It will be enclosed for the winter," she said. The third phase of a master plan designed by architect Ashley Carpenter of Carpenter, Stringham, the addition sits on foundations laid in 1966 when the "total energy wing for the building was erected. Rocky Mountain Contractors is building the addition. The original company 34,000 Dfi ml We re Winborg end Winborg And we do it all: logos, brochures, point of purchase materials, annual reports, catalogs, company magazines, posters, billboards, newspaper ads. calendars, magazine ads. t.v. commercials and package designs More than an advertising agency 141 Pierpont Avenue Salt Lake City. Utah 84101 (801) 364-770- square-foo- t building, constructed in 1956, was four stories high, by Hodgson & The Holbrook of Ogden. second four stories and the addition were designed by Carpenter, Stringham, Salt Lake City. designed Salt Lake financial have been lending an All CARGO. to SAN FRANCISCO and LOS ANGELES Sunday thra Friday Nest morning delivery md and omt-bom- nd This past week the Dow Jones Industrial Average gained points. However, by most standards it was a very bad week. Example: Polaroid started the week at 40, announced record earnings, and ended the week at 35. The Polaroid Jan to 1. Similar precipitous declines were 40s fell from 2 experienced by IBM, Teledyne, National Semiconductor, Burroughs, Digital Equipment, Honeywell and others. Although the market could rally sharply at any time, a is still more probable. One reason is the further wash-ou- t uncertainty of the presidential election. Another is the leading economic indicators. On Friday the 29th, the indications for September will be released. Six of the twelve are already in, and five of six are down. These indicators for August were down, and a second straight down month most likely wrould signal further selling. Recommendation for this week dont look at the financial page. 1-- 34 3-1- Lenders Come Clean Against Redlining Charge 1 in-lbot- by Warren M. Kvtrhmn . Pli.l). Prince. Lanpheinrich & (Ireer I average of 7 percent of their total home loan portfolio in urban areas, and about 33 percent in the suburbs, according to information compiled by the People Against Redlining group. Using information supplied by the 15 major financial institutions in Salt Lake, under the newly effective Home Mortgage Disclosure Act, the group assembled a report on loan activity in the area. According to the report, Western Savings & Loan and First Security Bank of Utah have been the institutions most actively lending in Salt Lakes urban areas. Of their total Salt Lake County home loan portfolio, 41 percent of Westerns and 43 percent of First Securitys went into urban areas. The balance went toward suburban homes. Among city areas, Western seemed to prefer the central city area, while First Security seemed to like to lend in Rose Park and Northwest Salt Lake. Of six urban zip code areas considered by the re84102 port authors, one 60 represented about percent of Westerns city loans. About 84 percent of First Securitys city loan portfolio went into zip code area 84116. areas. In the city districts American loaned $1.2 million. In urban areas it loaned $10.3 million. First Security demonstrated a remarkably balanced loan policy, since about 43 percent of its total loan portfolio for Salt Lake county went into urban areas. First Security reported lending $5.6 million in the city and $7.5 million in the suburbs. (See graph.) People Against Redlining, administered by the Crossroads Urban Center, is a group dedicated to ending lending discrimination against potential city dwellers. Spokesmen have said the group wants home loans to be based on an individuals ability to pay, not the condition of the . neighborhood or the home. Residential Home Mortgages 1975 by Institution Salt Lake County 8 CJ 03 lx o0) 0) Ut Loan to Amount o SMillion Among the top lenders ert ix 0 co slx li M C eg CQ lx do in the area, Prudential Federal Savings & Loan recorded one of the greatest Cargo Adoiphic Enterprises Terminal Executive Salt Lake International Airport, (801) 533-081- contrasts between suburban and urban home loans. During 1975, Prudential lent a total of $503,573 in the six city zip codes considered. In the six suburban zip code areas Prudential loaned a total of nearly $11 million. 8 American Savings & Loan reported a similar dis- crepancy between the two ! CHy:iIp S 04, 16 (841) 11, 01, 02, 03, Suburbs! zip (84) 070, 120, 121, 107, 117, 119 |