| Show THURSDAY November 6 1997 )f 56alt fcdte tribune Page MUTUAL FUNDS Page TRADEWINDS B-- 6 Page msmrnm 94276 200 $31370 $030 -- NASDAQ COMPOSITE COPPER MERC- 618 rra - BY CHET CURRIER 90900 344 LJ THE ASSOCIATED PRESS 300 RoTech Medical Corp recently was issued a Food and Drug Administration warning letter the fourth warning letter in six months since FDA inspectors found problems at the companys RoTech Valley Home Medical Inc facility in Layton An FDA letter cited RoTech Valley for failure to properly test medical oxygen and properly train employees It also listed problems with record keeping and testing procedures Jim McNabb corporate counsel for RoTech said the number of warning letters are due in part to the companys large number of individual gas manufacturers General Mills started a guessing game last week when it officially joined the ranks of US Olympic Team sponsors for the 1998 Winter Games After the 1996 Summer Games in Atlanta the company put the pictures of five Olympians on Wheaties cereal boxes But after We are selecting only Nagano one team or individual said General Mills Chairman Steve Sanger The companys announcement at its Minneapolis headquarters was highlighted by the appearances of the 1996 US womens gymnastics team and two leaders g of the gold 1980 mens hockey team medal-winnin- October Prices Rise For Ranchers Farmers mid-Octob- were up for barley all milk alfalfa and other hay from the previous month September sheep and lamb prices were down compared with August k The price was $1250 per hundredweight up 10 cents from the previous month but down $270 from October 1996 Barley at $231 per bushel was up 5 cents from the previous month but down 74 cents from October 1996 Baled alfalfa hay was $85 per ton up $1 from the previous month but up $18 from a year ago Other hay at $70 per ton was up $25 from last year The September 1997 sheep price was $29 per hundredweight down $4 from August but $4 more than September 1996 The September lamb price at $86 per hundredweight was $6 less than August 1997 and $2 less than September 1996 mid-Octob- all-mil- Monroe Inc reported third quarter net earnings of $11 million or 21 cents per share on revenue of $162 million d comThe Salt Lake pany had a net loss of $656945 or 15 cents per share on revenue of $22 million for the same period in City-base- nt the October drop accomplished some positive things for the US market by reducing some of the enthusiextremes of asm and presumably moving stocks out of the accounts of investors with weak conviction into stronger hands Even with its speedy recovery from last weeks losses and its more than 19 percent rise for the year the Dow remains 567 points below its Aug 6 record of bull-mark- 825931 See DOW Page 1996 BY JODI RAVE THE SALT LAKE TRIBUNE Despite the increasing trend toward electronic transactions Encore Senior Living a Portland provider of senior housing has purchased MillCreek Retirement Residence in Holladay and its ownership entity MillCreek Retirement Associates in Salt Lake City Ore-base- d Utah check clearing houses continue to process millions of checks daily I can remember 20 years ago the industry saying in 10 years checks will be gone said Marvin Schmid vice president and manager of First Security Corps Utah operations center item processing It hasnt happened yet This year more than 55 billion checks will be processed in the United States First Security alone acts as a clearing house for 15 million checks daily although Schmid acknowledges that check volume is beginning to flatten Banks have a choice of what entity processes their checks Many banks including First Security and Zions process their own Some banks use services provided by the Salt Lake City branch of the Federal Reserve Bank of San Francisco while many credit unions choose Corporate Central Credit Union (CCCU) as a clearing house A debit or electronic transaction can deduct funds from an account within a matter of hours whereas a check transaction generally takes approximately two days It can take as little as four hours and up to 48 hours to process a check said J Paul Morley public information coordinator for the Salt Lake City branch of the Federal Reserve Bank Childrens Academy a d Salt Lake day care center has opened a new facility at 6900 S Highland Drive The facility features computerized code access and video surveillance cameras in each room 9400-square-fo- NPS Pharmaceuticals Inc extended its existing agreement with SmithKline Beechan through Nov 30 while details for an extension are being finalized The companies are working together on the discovery and development of compounds for the treatment of osteoporosis Wasatch Clothing Company in Midvale recently opened stores in Utah at South Towne Center Layton Hills Mall and Ogden City Mall Wasatch specializes in the design and sewing of fleece products for the golf ski climbing and hunting industries Steve GriffinThe Salt Lake Tribune Checks are piled on a check sorter Tuesday at the Sait Lake branch of the Federal Reserve Bank 20 S State where checks arrive on a basis Some banks process their own 1 24-ho- Not all checks go through that fast The Federal Reserve holds back between 8000 to 12000 checks from the sorting process on a daily basis Checks can be held back for a number of reasons including insufficient funds and postdated or missing signatures Between Zions First Security the Federal Reserve and CCCU more than 3 million checks are sorted and rerouted daily For machine-processework Morley said it costs between enths of a cent to 47 cents to process a check Checks arrive at the Federal Reserve at 120 S State Street on a basis The majority are separated by machines that read the magnetic ink character recog nition (MICR) line at the bottom of the check The MICR line identifies the bank as well as the customers account number d The font was established as an industry standard by the American Bankers Association in 1958 as a way for 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This 3750 3500 in- stock item at Dahles Women's store Not valid towards prior purchases gift certificates or layaways OFFER EXPIRES: 299m 499m Crystal Serveware Cake Plate This coupon is good for 25 LLI B-- 8 Electronic Option Hasnt Slowed Flow City-base- Prices for Utah farmers and ranchers during growth can continue without significant disruptions Once confidence falters the markets vividly demonstrated the impact can be transmitted to investors the world over with lightning speed Theres a lot we dont understand yet about recent events in Asia says Greg Smith at Prudential Securities Investors appear fairly certain that the recent developments will have a relatively minor impact on economies around the world Hopefully that is the case but its by no means clear to me that it is The way many observers saw it 55 Billion Checks Will Clear in 97 BRIEFLY Olympian or Team 1 its 7161 reading at the close of business on Blue Monday The loss in that tumultuous session had been recouped By markets close the Dow had faded a bit but still was up 344 at 769257 about 23 points shy of the level it held before last weeks plunge If the markets didnt spend long transmitting the message of their October selloff analysts say that doesnt mean it can be forgotten In focusing on the problems facing many countries in Asia the market drop raised the question of how long worldwide economic 554-poi- NEW YORK Say whatever else you want about investors in the US stock market they arent easily intimidated Scarcely more than a week after the Dow Jones industrial average suffered its largest drop ever on Oct 27 the best known of all Wall Street indicators recovered all the ground it lost that day On Wednesday afternoon the Dow rose to 7766 up about 77 points from Tuesdays close and more than 600 points higher than RoTech Gets Warning Letter No 4 Wheaties to Feature B-- 8 Wow Follow That Bouncing Dow GOLD MERC- - SPOT 163733 B-- 4 m 7s Prices apply to select patterns Quantities are limited & CSZSUBBQsm Sunday 1 lam-6p- m styles Shop early for the best selection Sale ends November 11 1997 Offer exptresll1197 pei visit Cannot Present be combined ad at Previous purchase not appBcabte Offer good one time time of purchase only limit one per customer wtth any other offers savings plus or phone orders Sot valid on odds and ends and clearance items TOMMY HSIFiGER V iKm-- j |
