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Show Broker knew of merger, yet car sales back on track, recommended sell, suit claims domestic models take lead in strong recovery Did Dean Witter & Company, know Warner Lambert Company intended to buy out in Third District Court last week by Mel R. Ballou against the San Francisco based stock would soon increase sharply in value because of a pending merger with Warner Lambert brokerage firm. cember 1976? Ballou charges in his suit that Dean Witter knew and had reason to know that the price of shares of Deseret Pharmaeutical Company Company. The suit maintained Dean Witter had a special relationship with certain officers Deseret Pharmaceutical between October 21, 1976 and the first three days of De- Thats a tion posed $200,000 quesby a suit filed and directors of Deseret Pharmaceutical and had access to information not available to the plaintiff or the public. Ballou charges that despite this knowledge, Dean Witter advised him to sell Fun and Treasure Waitin with the over 10,000 shares of Deseret Pharmaceutical on three separate days between October 21, 1976 and November 30, 1976. The selling price of the stock ranged from $25 per GARRETT Long considered the finest consumer metalmineral locater available, the new breed of Garrett VLFTR detectors offers incredible new technology. Probe deeper than ever before, discriminate between junk and treasure, compensate for high mineral soils and moisture and much more. Take some time for a demonstration and start now... spring brings treasure to the surface. 220 S State Salt Lake City. Utah share to $29 per share. The average selling price of the stock was $26.26 per share. Car sales in Utah recovered sharply in November after the disappointing showing in October. According to the Utah Automobile Dealers Association, new car sales during November totaled 4,557, or 28.5 percent above the previous month. The gain was also an impressive 60 percent above the 2848 new cars sold in November 1976. However, the large gain benefited primarily domestic model dealers at the expense of imports. The market share for foreign cars in November sunk to its lowest point in 1977: 23.1 percent. The pre- vious low was set during Jan In the first three days of 328-201- Olds-mobil- e. Utah Market Share Foreign Cars December, the suit continues, Warner Lambert Company tendered for all the outstanding shares of Deseret at $38 per share. From $279.95 uary 1977 when the market share stood at 23.8 percent. Domestic dealers sold a total of 3506 new cars during November, up 41.9 percent over Octobers 2470 and 69,3 percent over November 1976 when 2,017 new American made cars were sold. Foreign cars, on the other hand, lost 2.4 percent in November from October, from 1077 to 1051, but still gained over 35 percent on a year to year basis. The top three domestic models sold in Utah were Ford, Chevrolet, and Ford increased sales to 1,022 units, the highest for the year. Nov.-No- v, 76-7- 7 The suit asks for $123,187.50 which it claims Ballou lost as a result of selling too soon, and punitive damages of $75,000 for a total of $198,187.50. 6 20 If You Prefer... NDJ FM AM J Natural Fibres... 100 Suits and Cotton Shirts... Shop Maurice Andersons All-Wo- ol Your exclusive headquarters for Oxxford and Louis Roth clothes... Countess Mare ties and Johnston & Murphy shoes. DID U PJA) A H JASON |