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Show -- j2 rJ Monday, January 23, 1978, SL banks break $1.5 billion in loans Outstanding loans at all Salt Lake City banks finished 1977 at $1,503 million, breaking the $1.5 billion mark for the first time, and racking up a growth rate of 26.3 percent over the last calendar year. According to figures released by the Federal Reserve Bank of San Francisco, the largest proportional gain came in the real estate secter, which climbed from $356 million at the end of 1976 to $519 million at the end of 1977, representing a dramatic 45.8 percent gain. Consumer loans held second place, growing at a 29.5 percent clip over the past year, from $173 million to $224 million. Industrial loans also grew at a lively pace, from $374 million to $440 million, an increase of 17.6 percent. The federal funds component grew at a more moderate rate over the year, from $145 million to $158 million, or nine percent. Real estate loans gained in popularity with Salt Lake UP&L banks asset managers over the past year. In December real estate loans held by Salt Lake banks comprised 29.9 percent of the total loans outstanding. At the end of 1977, they made up 34.5 percent of the outstanding total. Consumer loans increased marginally as a proportion of the total, from 14.5 percent at year end 1976 to 14.9 percent at the end of 1977. Commercial and industrial loans lost ground as a proportion of total loans in 1977, however, at the end of 1976, industrial loans outstanding comprised 31.4 percent of the total. In December 1977, industrial loans came to only 29.3 percent. Also sliding were federal funds, which accounted for 12.2 percent of the total in 1976 but dropped to 10.5 percent at the end of 1977. Total Loans Outstanding All Salt Lake City Banks (millions 1976-197- 7 1,500 1,400 1,300 1,200 1,100 1,000 JFMAMJJASOND 1977 1976 Source: Federal Res. Bank S.F. Its the amazing new CASIO calculator that is a wants larger share of prospect Utah Pow'er and Light will continue exploration on MounSan tain States Resources Juan County uranium properties in order to earn an additional 15 percent interest in the joint venture with MSR. MSR president Ray en said UP&L has already completed the second year of its exploration and development program to earn a 30 percent interest in the Mortgage volume tallied The number of trust deeds and mortgages recorded in Salt Lake County during 1977 came in 55.8 percent higher than last years figure. For the year, the total reached 42,853, valued at SI. 62 billion, compared with 1976s 31,154 deeds and mortgages valued at $1.04 billion. In releasing the figures last week, Security Title also said the average VA loan during December, 1977 was for $43,315. The average FHA loan was for $33,848 and the average conventional loan was for $40,152. Below is a ranking of the area's top ten mortgage lenders computed by Security Title in terms of volume for the year earn up to a 60 percent interest in the property by spending sufficient UP&L can funds for exploration work on the property, Albrechtsen explained. The orginial agreement has been in force since August 1975. The property covers 35 unpatented claims on about 700 acres in the Elk Ridge area of San Juan County. Since work began, UP&L has been responsible for supplying the total funds necessary for exploration and drilling. R-2-20 printingdisplay Desk Calculator: adds, subtracts, multiplies, divides, has memory, plus special functions Tape Readout or Visual Display: eliminates tape errors and provides accuracy check Payroll Machine: converts hours, minutes directly to decimal form Three machines in one. Write or call Suzy for free color brochure andor demonstration. DONT SAY CALCULATOR, SAY CASIO Office Equipment Associates 1367 Major Street 487-299-1 1977: Lender SMillion 1 . Prudential Federal $86.67 2. Western Mortgage $75.62 3. First Security $65.14 4. Zions First National $63.67 5. Valley Bank $52.00 6. American Savings $42.84 7. Walker Bank & Trust $37.99 8. Tracy Mortgage $34.78 9. First Federal $34.77 10. Western Savings $32.62 Sell Phaster with Photographs Weve Opened A New Home On The Freeway Your Butterfield Ford Family, with over 40 years in the Ford business, has opened a brand new home to give you better service. Come out and visit with the personable people at Salt Lake Countys oldest Ford dealer. A.L. Butterfield, vice president; Elias C. Butterfield, president; Roger Butterfield, used car sales manager and Brent E. Butterfield, new car sales manager extend a welcome. SALES NEW FREEWAY LOCATION IN SANDY w-SKSiM- s Photographs speak phaster than words when you only have a moment to get your story told. Next time you have to impress a client with a complicated concept, back up your word with expressive color photographs processed and printed by SERVICE 423 PHOTOGRAPHIC LABORATORIES EAST BROADWAY SALT LAKE CITY, UTAH 84111 For full Information contact: MR. BRIAN RECORD, Professional Phototechnical Sales, 532-339- |