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Show The Utah Enterprise Review, February 2 , 1977 Pane 5b Option Market News Utahs Condition Strong Continued from page lb 34 of the state revenue total. The $87 million resulted from tuition remianing fees, charges for services, interest earnings, and other miscellaneous earnings. Except for Federal aid, the sales tax is the most productive revenue source for state government in Utah. Foundation analysts observe that last year it produced $195 of total state receipts. An million, or 22 additional $42 million was collected for local units of government, making the total state and local sales tax receipts in Utah equal to $237 million during the 1976 fiscal year. By comparison, total property taxes charged for local units of government in Utah amounted to $208 million. No property tax was imposed for state purposes. The Foundation report observes that education accounted for $403 million, or 44 of all state spending in Utah. Included in this total was $144 million for higher education, $233 million for state aid to local schools, and $25 million for other educa v tional purposes. In addition to these state expenditures for education, substantial amounts from locally-raise- d funds are spent on education. all When state and local expenditures are included, spending for education in Utah amounted to $590 million last year. Because of the recent recession, total expenditures for unemployment benefits and employment security administration rose by nearly $24 million to $84 million during fiscal 1976. As noted, this unusually large outlay was met by drawing on reserve fund balances accumulated from taxes on employers for that purpose. Other major areas of state spending in Utah last year, as indicated by the Foundation report, include highways $137 million, public welfare - $104 million, health and hospitals $34 million, and natural resources $32 million. It was emphasized that these expenditures are for state operations only and do not include disbursements by local units of government. Drive-Lin-e Six State Distributing is There is a strong tendency now to acquire high yielding stocks. As a result, there is a rush out of the low yielding growth stocks like McDonald, National Semiconductor, Texas Instruments, Hewlett Packard, Walt Disney, Schlum-bergeetc. Most of these companies were the darlings of the institutions in the early 70's. Now these institutions are weakness leading the exodus out of them. Further long-teris likely in most of these issues. However, the selling was sharp enough last week to suspect a sharp temporary rebound. When it occurs, the general market will move higher too. Option traders in the growth issues will have to be extremely nimble so as not to get caught long or short. Two more stocks were added to the Pacific Options Exchange last week. They were Combustion Engineering and Lucky Stores. These two are the first Exchange to have the expiration cycle. r, m off-Midw- Earn 12-1- 4 not going into the assembly business, as the Review mistakenly reported two weeks ago. Rather, the owner of Six States has leased property next door to David L. Jones, Serpresident of Drive-Lin- e vice, a new Salt Lake busi- ness. Jones will be building drive lines (shafts) for industrial machinery, trucks and cars. WITH SAFETY First mortgages and contracts fully recoursed. Utah residents only. Utah & Western Investment Corporation out-of-sta- te Mail Today or Phone Collect one of about branches of a national franchise headquartered in Sacramento, the firm will employ a newly patented type of machinery that assembles the shafts faster and less expensively than older methods, Jones said. Jones will be housing the new four person operation in a steel building now under construction. He expects to 486-074- 8 UTAH & WESTERN INVESTMENT CORP. 1321 South State Street, Suite 201 Salt Lake City, Utah 84115 I would like further information Name ... Franchise to Open As kctchain . Ph.lt. February. provide beginners with technical assistance. We want to help them find financing, and help them with management problems, he said. He cited a particular interest in assisting minority businesses. Miller said he will continue informing companies about the advanof tages moving to Utah, but pointed out the budgetary emphasis would be on research, not search. We expect to conduct studies for specific industries, Miller explained, saying he sees existing Utah businesses as the best source for employing the states expanding work force. 20 M. Prince . I.nnhcinricli X' ilrvvr down every week The market is keeping its steak alive so far this year. I predict with certainty, however, that this downward streak will be broken this year. With somewhat less confidence, I predict it will occur the first week in Small Firms Will Get Boost The Industrial Development Department of Utah will be paying more attention to Utah's small business community during the next four years, according to Mike Miller, director. This year we want to identify those Utah industries that are expanding, and those related to our natural resources, Miller told the Review. We want to concentrate our attention on existing small businesses, he continued. He said he wants to help develop financial stability and the expansion ability among the states small businesses, and ll'urren Address City open for business by March ... State. Zip. Phone 1. COMPLETE PRINTING SERVICE Letterpress Creative Layout Design Phototypesetting Intertypesetting Lithography 4400-square-fo- ot Business Industry Commercial FULL COLOR PRINTING Stationery Pamphlets Brochures Forms AND EQUIPMENT WE HAVE THE KNOW-HOFOR YOUR PRINTING REQUIREMENTS W Phone (801 ) First State Banks request to establish a branch bank in Ferron has been denied by W. S. Brimhall, commissioner of the Department of Financial Institutions. The bank was denied, Brimhall said, because of its close proximity to a branch of Zions First National, one which made application only a few months before First State Bank. Both had cited a need for additional banking facilities as a result of increased coal mining and construction activities in the Ferron area. Since Zions application was made first, its approval also came first. Its charter granted on Sept. 29, (only nine days after First State made application), Zions opened for business on Jan. 7. 487-065- 1 LORRAIN 1952 West 1500 South Salt Lake City, Utah 84104 iMrawww |