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Show The National Enterprise, April 27, 1977 Page two THE NATIONAL Wadhams purchase increases Moving American-Strevel- ls product line seminar American-Strevel- l, Salt Lake City, has reached an agreement in principle with Wadhams and Company, Portland, Ore., to buy the assets and business of Wadhams for an undisclosed amount. Pending approval by the Federal Trade Commission, the transaction is scheduled for consummation on June 1. Wadhams, a wholesale food distribution company, had sales of approximately $130 million per year and was increasing revenues by about 14 With the purchase of percent annually. Wadhams, and the earlier acquisition of Albertson's Mountain States Food Distribution Company in Boise, Idaho, American Strevell plans to gross approximately $500 million within one year. The Wadhams purchase involves a 350,000 square foot food distribution center in Portland and Best Buys, Inc., the companys general merchandise distribution operation. American Strevell will assume all inventories, equipment and debts of Wadhams as well as the companys 400 wholesale customers in Oregon Sugarhouse Featuring advice about how to pack without damaging furniture, how to save money moving, and what companies should know about moving policies, the seminar is directed by company consultant Elden Rich. The Wadhams purchase makes American-Streveone of the Wests largest food and hardlines distributors. The company will now operate seven food centers serving over 3,000 retail and institutional customers in eight western states (Utah, Idaho, Colorado, Wyoming, Montana, Washington, Oregon, American-Streve- ll and Nevada). supplies hardware, sporting goods, carpet, appliances, and automotive parts in the same eight-stat- e divisions in area from its Strevell-Paterso- n Utah and Washington. The company grossed approximately $300 million last year and expects revenues of approximately $70 million this year from its Mountain States acquisition. ll version. Highlighting financial gains in PFS's operations during the first quarter, Donovan said: Total consolidated assets at March 31 were $588,673,000, percent, over last years assets of $68,430,000; up said total stockholders' equity at March 31, 1977 stood at $34,932,000 or $13.69 per share, up from $31,884,000 or $12.49 a year ago. Donovan Since its conversion in April 1976 from a mutual institution to a stock association, PFS has approximately 2,442,000 The association has approximately 27,000 stockholders, most of shares outstanding. 13 Outstanding loans and tracts receivable $495,853,000, con- totaled over Second Class Postage Paid in Salt Lake City. L'tah R. GEORGE GREGERSEN Publiahor ALENE E. BENTLEY Editor mary mcmillan gaber Managing Editor DEANALSUP JO SCHNEIDER SUft Writers R. PASSEY PETER HARRISON Production Manager Advertising Manager KRISTOPHER WHITNEY JONES Art Director So. Temple, Salt Lake City, Utah 139 E. Office and Commercial Lease Space Available 1976s $45,212,000. Donovan also announced the board of directors has declared a quarterly cash dividend of 8 cents a share payable May 24, 1977 to stockholders of record on April 30, 1977. The dividend is the same amount as the quarterly dividend paid in Februarv Development Associates 307 West 2nd South Crane Building Phone: 532-768- 0 1977. revealing a 10 percent increase over a year ago; Gross new loan volume for the first quarter of 1977 was $41,518,000 compared with $30,550,000 for a volume increase of 36 percent over the same period last year; rt in the office is the hallmark of a cultured man. EMPLOYMENT AGENCY Promises, Promises An employment service should advance your interest. Advance Careers guarantees it. WE HAVE A RESUME ON THE PERSON YOU NEED YOU WONT SEE MOST OF THE APPLICANTS WE INTERVIEW Testing Facilities CALL US, WELL DO THE WORK. PRE-SCREE- N Pre-screeni- ng WE CARE Advance Careers, Inc. The Art Gallery 227 South State Cents Per Copy Located at And savings deposits at the end of the first quarter totaled $435,738,000, a 12 percent increase SO The National Enterprise is published weekly by the National Enterprise Publishing Company, Inc., 500 Continental Bank Bldg., P.O. Box 11778, Pioneer Station, Salt Lake City, Utah 84147. (801)53)G66 Lines Van (Bekins) is sponsoring a free moving seminar Thurs., April 28 at South Salt Lake Auditorium, 2500 South State St. at 7:30 p.m. American Strevell President George Bitzes, Jr. said the 275 employees of Wadhams will be retained as employees of American-Strevel- l. The Wadhams business has been in operation for 111 years specializing in frozen foods, meats, dairy products and general good merchandise. whom received their stock free as a consequence of the con- Subscriptions S24.00 per year planned and Washington. Prudential Federal Savings notes 15 percent increase in net income Prudential Federal Savings and Loan Association this week announced a 15 percent increase in net income for the first quarter of 1977 over last According to Gene year. Donovan, president, earnings totaled $951,000 or 37 cents per share compared to $827,000 or 33 cents for the same period of 1976. Enterprise ! Advance 1399 South 700 East. Suite 4 Salt Lake City. Utah 84105 363-49- 41 Telephone: 486-575- 3 Building Better Business with Better People |