Show iz I - 5 'if' i 4 - v ie - British Lived Beyond Their Means- Devaluation To Be Lesson for US? r J A By Same Thing In US is a pound the And the mme has been hapworld over — in Philadelphia Faris New Delhi San Francis- - pening for more than a dec--1 ade to the United States co New York The troubles of the British and Moscow with the industrial rise – began it's nut only r of Germany and the United worth $240 t States in the last half of the this week as 110 19th Century and early 20th compared with British methods a nd The pound r r last - will –- it - j r II - - t E -- p'-- DIVERSE TOILET ':' J ::' ' ' 1 30" TRAP comnrrs 29'1 WAIN DOWN -- TOILET COIAPLITD -- 1191' TANK end SOWS SPECIAL Only Other Kinds wr low Prices ell Plumbing flouring end Suppling We bolig Hon bind Com owl KETCHUM'S Op 4 titit $O 7th WIST I Your Money Sock it Isn't Ight r--- Pith An -: ' :: 1 1 I '4 AATItVv- - 3 1 p 4::' 1 4 4 SO E ! on— r - 1 1 TEMPLE 5 I - PH 355-465- kJ 1- COMPANY Ca I 645 m City tank of New Chase Manhattan in the rate large New York bank s including Morgan Guaranty Trust and Manuffic-turern Ihmove- - Trust also Joined in the raises The prime lending rate is the rate commercial banks charge their most creditcustomers usually worthy Other large corporations lending r a tes are scaled from it Continental Illinois Bank k Trust Co Chicago's largest Initiated the prime rate boost Monday The increase follows the devaluation of the British pound and boosts in the British and American official bank rates The British bank rate went up to 8 per cent from 61i per cent The Federal Reserve Board raised the discount rate to 412 per cent from 4 per cent Sunday The discount rate Is the rate the Federal member charges banks 8-- r-- o respected 1 c i Li Li Li 11 ! )C:21 rl LI -f- e-- Li 44 r CA' 1 I I '' weir (:iflii' "' L CD L'(D L 15 r t 5--'- 71 - 77 '' ry—vriis r1 117-1(1- LI ' k::j 10 W Howell Beverly ed post Mr Bunt was educated in Ogden schools was graduated from the University of Utah in 1951 with a liberal arts degree As a reserve lieutenant commander he is commanding officer of the Ogden Coast Guard Reserve unit and is a past president of the Utah Chamber of Commerce Executives and president-elec- t of the Mountain States Assn of Chambers of Commerce William 11 Tomshevk chief Western Laboratory Agricultural Stabilization and ConserServvation ice 2505 Par- - " I leys Way (2120 i South) has re- tired after 32 1 years with the vi 0 1 n culture Cr' TAX CHANGES IN THE KEOGH ACT MAKE 'IT EASIER FOR YOU TO ACCUMULATE WEALTH FOR A DIGNIFIED 2 A HIGHLY-INFORMATI- TO 20-MINU- VE YOU ACT NOW -IF Natural TELLS SLIDE LECTURE TE HOW PUT THESE NEW CHANGES TO WORK FOR YOU your own boss—or g In plans enjoyed by corporate employees many respects Keogh has many of the same GOODBODY& CO I tax-fre- e I help you better understand the tax she! tared advantages and provisions of the revised le and Keogh Act Goodbody & To I 7 T- i - tik4I I AthzL the - cien grot first 359 Industrial US gY ( r t i -- t 1- ' '' Salt Lake 1 Oty The 4 pany special' zes in sale of electrical ap and paratus - 1 j '''--' ' I '' ' — ' Tue lion erat I t t 4 right-of-wa- at pm brin Into prof indu Opinion Suggested The city attorneys opinion suggested five' years as a rea sonable time for elimination of the signs The committee Tuesday also voted to request the city to extend a moratorium on advertising benches in the central business district until the urban designer's plan had been completed Professional Management' Co Salt Lake City previously gained approval to place such benches The city later put a moratorium on their installation until comple lion of Target: Vitality m Local 'wrier f t ) ViCkpecr 00-- - AR' 1 LI a-- NEW li i : ) ' ' phone: Air Can ArnCyat Ain El A For P A the :dock Am TA Am rob Allard& Armco Armour Arm C Athl Ott Ass0Tra Assoinv Aichisn PIP tat Atlas AvcoCio Avnot i PhaVkl Bangor F Bath It the subjects we'll cover—these and many Beat Fd Beck m BeechA Beech N Belco Pei in11BH1 Bendi Bon St Black BnsE V Tuesdays November 28 December 5 right here in our office In the & 12 0 KENNECOTT BUILDING at starting 7:30 B oeing BoiseCal Bo oa pm sharp Borgnalr Bost Like to attend? Just call or mail back the coupon below and we'll reserve your seats Braniff BrtogS B l rtShoeNi Britnsso" Bucy E Road CI Btiovat ' I : 1 -1 : u reservations for your course for Please make seasoned investors - Borlind Ourrcitecrl 1 Cal Name I Can Dr1 CnPac Address Carol Tel 1 Carrier i Phone Zip City Cater!' r Celanese CenSoya Cerro ICertain-- i Cessna MERRILL LYNCH 1 Hcla Car111:401 PIERCE FENNER III LE1 1 MCI III 1111111118 An DOOM! KENNECOTT BLDG °lila ChmSPI haseelt Chernet r SMITH INC C ITOCI TIE1 Telephone Our 'CFI St All SALT LAKE CITY (hes cte ChheSPA Chi NOW Chi R IMAMS COMW011iT 84111 CitiesSy - ()pets Saturday Fin CIT 359-768- 1 10 um to 1 CleveE I CoraCol pm I Colgate Collins CoilntG 'CBS Col I LEASE I DISCOVER THE GEER EDUITY Corn '-' Gag Cr ComStst Ed Corn ComSat Cons Geer Equity Lease :dAil' :1" Contanr ContAir a new car of your choice second years rrrLN4e : driving CALL: 322-585- Bk Ca MO Ott Corned CorriGlal Crane costdaily! Crownl Crucibt Cudahy CurtisPiJ Curtiss Cyprus right now and ask for our Why proof on any car I any model your selection of equipment ' Cont Coot Con? Cont Con0i1CF ConetC Contri at lower not call Ed ConsFci ConsNO ConsP rP 1 DanaCP I THE GEER EQUITY LEASE GEER LEASING CO 424 South Main Street—SALT LAKE 11 tA - PIT YCO ' ----'! sor is OPIln DenvoK R Get Ed Dla Alt( CHArMrrt I TRUCK LEASING INDIVIDUAL CR FLEET L:: - - De38Fld DeiMon - ' 04ggrad Dftfve - -7- : T01 t t t t i t 4t7'1'"1IITMO t ' ' ' '' '''' ' ' - - - - - ' -- ‘ - - - airta DADold Distill 54 D ' Ed Bourn Br CAR AND ' Ste SugarT A : others—in three lectures scheduled for— t - OlA AMetC I Amer A Nt Gs Amer Am Sim s k - Home A i Z23-811-7 ty arcst Am Ametek Amoex I I i - adt IR Akan A AlieoCp Al Lod AlleoPr AildCh AlitedSt Allis Cl Am Z in These are 1 ' 320 East 4th South Air Am on the market? Dairy Market mg114erl rr107401 Prd Air Alcoa shout the impact of institutional investing equipment e AtxxCp Acme M Ad r es sc A A1414540 Amer 341 about technical theories of market action! about the techniques of charting? about tax switches? Mr Blake S State The meeting will include a display of security and fire i Nee the Admirt - market? 1000 131 per FRAC ligure r i''0A fo traded tun 0 declare regular ed cash p Am i I a Alt Cede A Do YOU know as much as you should about 1 ':: 1 the Inn Ramada t- pre —That's all we can accommodate In our new lecture for people who understand the fundamentals of investing who want to know more about the stock mar- ket and are ready to learn more T1 1 heat course y national bead- quarters The Utah Sod- ety for Indus- trial Security will elect offt- cern at a meeting at 6 part - ' Ii uled SEASONED 11111ESTORS log I "' effe h trical motors and genera Rich- 11 la tors Denman ard Mr Sherman and Kenneth Peterson associates in the accounting firm of Haskins & Sells have been elected to the American Institute of Certified Public Accountants John L Stratton Salt Lake officer for City a the Bureau of Public Roads has been awarded the MA! (Member of the Appraisal Institute) designation by the council of the governing American Institute of Real M W Estate Appraisers Blake a native of Salt Lake City has been appointed national product manager-wate- r Prodpipe for Certain-TeeCo at ucts Pa Ambler I1-- fort LIMITED TO of elec- - repair J - P require their removal after A reasonable period of time The Target: Vitality report urges elimination of ONClu hanging signs as one means of beautilvin7 the central bust ness district The committee set a Jan 31 deadline for submission of brochures and other statements of qualification Any interested party may send his resume and brochure to the Downtown Planning & Promotion Assn 146 S Main Salt Lake City 84101 AmeriThe Utah Chapter can Institute of Architects has been asked to draw up a model contract for the hiring 1 corn- - p 4 )eat of the designer A Dean Barney Salt Lake City assistant planning director reported a city attorney's office opinion that signs hang ing ov- -r public s'dcsvolks are "permissive" and the city can Committee Tuesday called for brochures from "qualified in interested professionals" serving as urban designer for a downtown Salt Lake City revitalization project The committee will seek response from professional planrers architects and others to the nation throughout implement its Target: Vitality program said Howell Q Cannon committee chairman News items in national professional journals and personal letters to professionals with experience in mall work are planned by the committee Submission Deadline promotion 1 u 3 : W Silver Co ' N m o hike : Delay In Buying An Elm-- o spokesman noted that the strike obviously will result In copper industry post ponement of purchases of con centrating equipment which Eimco produces The Downtown Development manufacturing natural resources and water resources R E Sherman has been appointed a service center sales representative for the C ' ---- ery on - le tit rc anti '411 SERVICE SINCE 2911 --- seal Group Seeks Design Aide It employees a long Thanksgiving weekend with their lamiliesContinental Agency will be closed on Thurs ind N Nov 23rd and 24th le f United To give our more-flexib- ' : tsno want to find out how I can sten my 'rowans tor a finaro cially Independent retirement Mass confirm my rosary& Sion tor your slide lecture slide-lectuwill conduct a on Tues Nov 28 1967 7:30 pm Lowell School Auditorium This in119 E Street formative discussion—delivered by Keogh Qualified specialists—will cover the major points you should know You'll also learn about the costs risks and advantages of a practical and highly-flexibmethod of investing the funds you set aside A plan which you can start immediately There is of course no assurance of achievement of fInvesting goals but this investing plan could well be the approach you need to make a dignified retirement come true if you start now Take the first step in making realistic plans for the years ahead Make your reservation fott this important hcttwe-slicJust mail the coupon today presentation Re- - - I Co 1 e 80 bow States Smelting Refining & Mining Co is continuing operations at the US and Lark Mines But it now has a stockpile of 30000 tons of lead concentrate and 10000 tons of zinc concentrate with no place to dispose of them and no intome It has kept its fa mining and milling employes on the job and paid out 114 million dollars in payroll sinee the strike beean The strike cut off its load smelting outlet at & International Smelting Refining Co at Tocele and zinc processing by Anaconda Co at Great Falls Mont It is In similar straits with cooper concentrates at Silver City NM because of the closing - ?Ambers of Wenn' Stock end Commodity Exchanging 1891 Over 100 Offices throusfieut the Nation 1132 SO 328-841- 1 MAIN SALT LAKE CITY Ge THE KEOGH ACT EXPLAINED: 1 30 Co services Richard E Brecko manager of Southwest Kenworth Inc supplier of trucks parts and services reports business down by 50 per cent Four of a staff of 21 Wool Market advantages of your earned income The law now lets you set aside 10 before taxes up to $2500 AND ALL CONTRIBUTIONS ARE INVESTED IN A TAX SHELTERED FUND (you have a choice of four methods) to compound ilyou retire You also get wide flexibility in taking out the profits when you retire to of d Salt Lake City market unchanged Prices to retailers delivered to stores in ceses exchanged: grade lefts cartons Irrieil A medium A AA Cheese-40- -lb ringless block 494 5 lb NEW YORK (AP) — Wool Mute 5014 mild lost longhorn SA doom half a cent lower to half a cent sandwich Butter-- 93 snore ni 92 score IV's 90 1018 531 Dec 11714125 Mm ne7ner 711 score 5 114 3 113 Dec Oct May 1135 Jul 1152 Mar 115115 Certificated wet spot — LOS ANGELES 109 ON no Egos—Prices to retailers for distribution Woof tops Mures &sad ouiet $ales certificated spot wool tops 1531)N plants (delivered lles higher): AA extra 2 A extra iarge 35it36is N110111inlii large — A tarot leit nit AA AA hire 311101 A medium medium A stnall 1712111i2 8 AA small consumers AA large as 53 large 26'1-2i AA A mebium lame f: s roasters 25 'Poultry—Fryers 1A hens (delivered) 31441 w!ci ASV wtd 212451 avo117st 364 latranchl d profit-sharin- I sources Coun- cil Salt Lake : — Area Chamber 't of Commerce k Ile will be refor sponsible 111 1 $ the five corn- mittees within s Mr Kenney t h e council They are agriculture and live a partner In a business enterprise—some day you'll quit working And when you do your Income will plunge But your expenses won't Will you have enough money accumulated to retire In comfort? To help you obtain the wealth you'll need Congress passed a law In 1962—the Keogh Act Important new revisions starting January 1 1968 increase Its attractiveness retirement program similar to the pension and Now nine million can start a If you're 1 1 1 TWO DRAMATIC NEW AND COMFORTABLE RETIREMENT- ' Covallis Ore ! k to reside kmAwtdAstmst -Comer E Mr Tomsheck Smity 2519 Blaine Ave (1719 South) assistant chief of the division aerial photography since 1960 will serve as acting chief former Don E Kenney president of Salt Lake Union Stock Yards Co is new head — of the Eco-nomic Devel- and opment ! V0 Z E'''' — : and moved 5 E)r Depart- of Agri- - If the No Income stock cham- ber president announced that the chamber would consider new candidates for the vacat- US ment 0 Tai c'l 0 0 CJ 1:: 1 Ei 1 1 11114 close of the Burgin Mine operated by Kennecott Copper Corp on lease from Chief Earlier this month United Park City Mines Co reported a loss for the third quarter — of losing the consequence markets for I's or by shutdown of the orincipal lead and zinc smelters off Laid Off Proler Steel Co which provides shredded steel for KCC's precipitation Plant at Copperton ha R laid off eight of its force according to Richard Obyn plant manager In the meantime con tracts have compelled it to take a million-dolla- r stockpile inventory now lying idle Less affected because of the wide diversification of their businesses are Eimco Corp and Boyles Brnthers Drilling Archer Tractor & Machinery Co said his business has been cut 65 to 70 per cent The firm supplies Kennecott with mechanical front-entractors crawler loaders trucks and parts and Archer Wayne - $ ri Mining it reported Monday expects losses of $30000 this year against what would have been $100000 net but for the laid been strike continues another days business will be off per cent he said "We're down to a four-da- y week" says Jack May president of May Foundry and Mawhich produces chine Co castings for KCC The firm has managed to keep its 80 to 90 hands on the job Co National York and Increasing Other Reserve Consolidated Chief have & Tex El Paso Week LOAN $30000 Co's Badly hit are some direct suppliers to Kennecott of C Aide Named to Bank Post C Ogden 74 row' TT''''FT47-r- the list of Injured "bystand- refinery Trade Winds --- flanw—asmi 1 total year m ' 1 - a British Simultaneously businessman who buys materials and merchandise from abroad will have to pay about thru Sot 130 to Um 9 no to 4 pm AUL Without each pounds Farmers At $24 Billion American merchant would have had to pay before devaluation $560 per sweater Now the British manufacturer will be able to let him have the sweater for $480 a reduction at nearly 15 per tent But there's it n "if" attached The British manufacturer won't be able to reduce his export price that much if British workers pet higher Ivages or if prices of wool and other materinls shoo up Have to Bay More t 4 two drop Ai(1 to Example: Suppose a British manufacture sells sweaters for rage 16 Second Section Refining only directly affects the striker and company it also hits a services host of enterprises and sales November 22 1967 1Vednesday American Smelting dow of nationwide copper into its 131st day the strike moved ers" continuiNI to grow For the strike not Nation's Banks Boost Prime Lending Rates 1 l' Mines—Markets—Finance suppose the French Germans and Dutch reduce the value of the franc the mark and the guilder the same amount as the British This would neutralize Prime Minister Wilson's action Other major Assumption: countries won't follow This would not of course include NEW YORK (AP) — The Spain Israel Denmark and other small nations Wilson nation's three largest banks must have explored this possi and a host of others Tuesday boosted their prime lending bility The Intent of the prime minrate to six per cent from 5 ister is clear: Continued auseffective immNliately terity He has to curb wage The Bank of America In San demands Ile has to Increase Francisco largest in the 'la Industrial efficiency obtain tion followed the suit of First greater Output per pound shilling and pence of labor input lie has to convert an economy running into debt Into an economy running a surplus Past losses in foreign exchange must be made up WASHINGTON (AP) — 'The Discount Rate Rises Agriculture Department reThat's why the Bank of ported Tuesday that govern- roglAnd- ellsenont rate was ment payments to farmers for vaulted to 8 per cent It is complying with various crop Intended to stop the outflow of control and farm-aiprograms short-tercapital and to totaled $24R0000000 during the first nine months of this repress speculation in inventories stocks real estate and year so on It Might even create - In the same period last some unemployment But this was the too would have a purpose It $2640000000 For 1967 as a would introduce more stick whole payments are expectM and less carrot into industrial to total $3100000000 comactivity pared with $33000001)90 last If wages and prices rise the year devaluation would evaporate Into inflation The response of the Federal Reserve Board was semiautowhich matic Speculation beset the pound will now be directed against the dollar Holders of lollars the world over will ponder: Will central bankers who hold dollars as Special to The Tribune reserves turn them in for OGDEN — Keith Hunt ex gold? Will the dollar go the ecutive vice president of the way of the pound? Greater Ogden Chamber of To check wholesale selling it Commerce P ter of dollars the Federal Reserve sI nce 19G2 ' Board boasted the discount f Tuesday was rate from 4 to 412 per cent named an offi- - r1 i ' This will increase interest cer in the L'7 : I rates generally It will have business de- - ( ':I an immediate effect on short-terr "' deI velopment t ' ' of Treasury bills Foreign partment ers will get a higher return on C o m mercial V them This might fruluce them Security Bank 4 1 to keep funds here i tt f AppointThe PreSident and Congress mPnt of the -i ki tow must act Federal expen3 id Mr Bunt ea ditures must be reduced DT Ogden native was announced tainly the President's plea for by Richard K Hemingway a tax increase will be more president Mr Hunt was assistant exin Congress Demand in general must be ecutive chamber vice presireduced Purpose: To slow dent before being named to down the inflation the top post overspent 1 M However mortgaged 1 Cop OerStrike Hurting Allied Firms 13usintss now 100 pounds products would buy only $240 worth This is going to make it more costly to import It will raise the cost of living It will mean consumption of foreign goods Century British labor standards — productivity — were emulated A a' 1 ) Then came World Wars I her 1519 and ii IL Great Britain had built and ALAi AAi farther back up huge investments over-- e Mr S488 and even a a But these were sold or $5 Livingston Debts were It's no longer the banking incurred money of the world It has The once-larg- e Consequence: been supplanted by the dollar inflow of foreign exThe reason is neither deep change from investments didevious nor disconcerting --- minished Instead funds had to be earned to pay for intermerely depressing est and principal on obligaThe British once leaders in tions Alas British prowess — colonization banking trading her manpower manufacturing have and manufacturing techniques and union themselves — was not up to it! They've been living beyond Hence another devaluation their means for the pound and for the secThe fate of the pound is a ond time In a row by a Labor warning to President Johnson Government Congress you and me It an the To Increase Exports for told so" d'I you French No nation no matter Devaluation won't help the bow rich or powerful can go pound or the British if it leads on year after year receiving to Inflation at home or comin goods services and investpetitive devaluation abroad ments more than it pays for The purpose is to make BritThat's the dolorous story of ish exoorts cheaner and Britthe pound That explains the Ish Imports dearer: To inrevealing repeated reports crease exports and decrease losses in foreign exchange — : imoorts $2 80 week $4 03 be- fore Septem- - 5alt igatit (q5tibunt 17 per cent more Example: Formerly 100 British pounds would buy WO worth of US British holdings of gold and other currencies Livingston 13LIfitlIPS3 Writer Fulitzer Prize Today in Business - - |