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Show WESTERN AMERICANA lci-jsc-v- mz ir s'.risLC cr r-- ut '- -' cLin rirj t LiTnirs i n (JT - o: 1 the national u i """"" . 'Vf C. 1 Business news and comnj6ntary Volume 6 Number 45 Wednesday, May 11, 1977 Preservation interests Index 50 cents Utah Edition ill-prepa- red for action DvDopers plead by Tom Horton Enterprise Staff Writer destruction vs. preservation clash last week has left area developers pleading for workable alternatives and historical interests admitting to a bad case of naivete. A Economic Page 2 Roundup New Corps... Page 9 Mrtg. Rates.. Page 7 Bldg. Briefs. Page 21 Stock Quotes Page 28 The stage was the front porch of the old Hogle mansion at 548 E. South Temple, where Drought is taking its toll; farm loans are increasing Federal Reserve Bank economists sec what they think may be the first sign of increased agricultural loan activity in Utah due to the drought. Economist Gary Zimmerman says in the first three weeks of April, 1977, the outstanding agricultural loan figure for Utahs four largest member banks moved up from $49 million to $54 million a $5 million increase in three saw only 29 similar applications, and officials attribute the big drop to either un- certainty or optimism sure which. Figures are not available for the first quarter of 1976 because the agency was between loan programs at that they're not the play had taken on the creaking atmosphere of an overused movie plot. . .automatic acting, predictable dialogue, and conditioned media The perturbed response. silence from the developers panelled office seemed to fit right in. Even while historic preservation interests were conceding we have lost this one for sure." successes in preservation were being scored at two other locations in Salt Lake City. A realty company comof at profit pleted resale a historic neighborhood which the city commission had declined to offer to the bulldozer, and a local developer became the first in the nation to apply for significant tax savings awarded to preservers of historic structures. A long time In the making mansion is the time. The Hogle Utah bankers are predicting they will be gazing at more (See DROUGHT, page 4) neighboring historic buildings slated for destruction by DEVELOPERS, page 6) - center structure of three weeks, which Zimmerman astoundcharacterizes as He ing. emphasized, however, that the interpretation is tentative, pending more in- Half-far-e dc-(S- ce to Denver? Oh nuts! formation. As for a long term projection. Zimmerman says 1976 was characterized by a steady growth in outstanding agricultural loans, from $41 million in the first quarter to $51 million in the last quarter. The first quarter of 1977 fell to $49 million due to an exThe pected seasonal dip. latest figure, $54 million as of April 20, is the highest in several years. The story is so far just the opposite among government subsidy programs. Farmers Home Administration officials are keeping their eyes on the mailbox these days, waiting for the flood of emergency farm loan applications theyre sure are on the way. Farmer specialist Don Rasmussen says uncertainty about the severity of the drought has contributed to the number of loan applications to his agency. lower-than-usu- Peanut Fare. Is it no more than a hill of beans, or is it the best thing since wings? The It all depends on which Confrontational thinking and lack of creative alternatives is working against preservation of historic sitest according to developers . This rally last week opposed destruction of three South Temple structures . Survivors of price war claim to be flying high airlines doing the flying. markets. We expected to find a lot of new people who would rather fly, if only the price was right. Most airlines say one things for sure, however: The Civil Aeronautics Board is watching the half price air fare experiment closely, and the results could mean a lot to the future of any airline deregulation proposal which comes from the Carter Administration or Congress. The price was right airline put their idea in proposal form, The Houston-base- d which most airline slapped a Peanut Fare label on it people say just may have been a reference to national politics and submitted it to the CAB. Texas International got back a resounding Yes! in 30 days or so, which is unbelievably quick considering that most new rate or schedule proposals are more than a year in consideration. We knew it was a success 45 days after we started it, says Kay Bergand, Texas Internationals Salt Lake City manager. Texas International was the originator of the half price air fare, which resulted from the airlines study of the disadvantage it found itself saddled with in certain markets. We just couldnt match the number of planes in the air that the We decided pricing competition could field, Bergand says. is the critical factor in generating new customers, and that a lower price would give us some additional leverage in certain point-to-poi- nt Salt Lake City - Denver was one of the six routes on which Texas International began the experiment. Frontier Airlines protested to the CAB, but it and Western Airlines joined the upstart in e g runs to Denver and back. Didn't want to play ball early-mornin- half-pric- al Optimism or uncertainty? In 1975, for example, m r v oar .$, y v. United Airlines found itself involved in a game it didnt want to play, and so cancelled its morning flight to Denver. Says United's Salt Lake City manager John Meyers, We did not want to be dragged into a break-eve- n situation. long-haWe arc a high-cosairline compared to the ones playing the peanut fare' game. Mevcr believes there arc not that many new air (See HALF-FARpage 11) t, 3 his office processed 95 applications for emergency loans in the first quarter of the year. This year, the first quarter .S Frontier Airlines is one of the winners in the Denver half-pric-e air fare Salt Lake City .',v.v. v.v. ;. : derby . The CAB is watching the experiment to gain data for possible airline deregulation . E, ul |