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Show rgpe,ri mr ,ii gyn..iw Largest implbyer, Runners-U-p May Be Surprise ; I :! : ihv w ft 3 fi $ 1 2 Jr J "g 2, m v, , i 2 Saturday, March 1, 1969 3A By DON C. WOODWARD and DOUG CHRISTENSEN Deseret News Staff Writers Utahns have long known that Hill Air Force Base is the states largest employer, but ' a'' they may not have suspected that two universities and the state itself are among the other tISTSirjTICtt OF jm Utah, mt top five. Only Iennecott Copper Corp., second largest employer, represents industry in a ranking of the top five, as shown in an exclusive survey by tne Deseret News. 1,000 OR MORE Forty of the state's largest employers were contacted by the newspaper and asked how many people they employed and what their payroll was. Their replies are tabulated on tills page, and are limited to those Utahs reporting 1,000 or more employ- es. The list contains some surprises, and it says a great deal about Utahs economic base. But like most compilations of statistics, it needs some explanation. Chart shows the major sources of income in Utah, with government leading all. but the tie itself is copper strike at. place Copper Corp. had 'revealing. Hercules Inc, was such an adverse affect on thelplaced first, thanks to its economy. With a payroll! roll of around $20 million, J. C. of $70 million, it spreads its in- Penney, with a large number of fluence throughout Utah. pastime helpers, had a payrollj THIRD IN PAYROLL of around 5 million, but had the government! same number of employes on its ranks second in employes and list. In part this reflects Hercuthird in payroll. The figures les determination to keep its shown do not include district highly trained professional engicourts, but they do include the neers in Utah. two vocational education colPart-tim- e help pays a big part leges and Dixie College, which in Utah and paremployment are under the State Board of ticularly at the universities. The Education. of Utahs total University Education has great impor- employment of 7,539 includes nine-mon- th Kennecott For example, two universities tiie University of Utah and Brigham Young University rank high in total employment, but that is because they each have a large number of part-tim- e or student help. In a ranking by payroll, they slip somewhat, but their total impact is still substantial, with a combined payroll of more than $58 pay-state- s' j j Utahs state million. LARGEST BY FAR The Ogden Air Materiel Area is by far the states most important source of jobs and income. It hires two and a half times more people than the next largest employer. Kennecott, and It pays out more than two and a half times as much in wages. spend at least $1,000 each while in Utah.) HOLIDAY SPIRT The part-tim- e employment reflects influence of also figures the trade industries, which beef up their sales staffs during holioutday season. ZCMI is an standing example of this. It had 3,700 separate people on its payroll last year, making it the 11th largest employer in that category. But it estimates it has e about 1,200 equivalent workers, which brings its payroll of around $6 million more in line with comparable trade organizations such as Safeway or full-tim- tance to Utahs economy. In 3,554 part-tim- e helpers. Brig- - Albertsons. h a m if school the districts fact, just Young, Universitys If nothing else, the list is surand the universities on the list1 employment of 6,927 includes in the number of firms are combined, employes, andj prising their total 4.859 part-tim- e who hire 1,000 or more people, include Utah States would exceed any other! figures impact and it seems destined to grow workers. segment of the economy, includ-- i 1.894 part-timeven larger in the future. Some The huge air bases employploymentj (BYU also estimates lhat organizations are very near the ment roll's include 18.068 civil-- ! atmiliLraha impact on the Utah economy is 1,000 level mark. For example, ians. who draw down1 FOIR-WATIE enhanced by the fact that most the U.S. Forest Service hires ! $158,177,000 in wages. list also of its students come from out- - 950 people, and 450 of them are The employment tie for 22nd1 side the state, and that they in its Ogden headquarters. Its also easy to see how a 'shows a four-wae J Y y ICC Cancels Building Gains Slight I Although foOstruction permit authorized particularly a good year for in Utah during 1968 construction in. the state. exceeded that of 1967, it was not This was pointed out Friday by the Bureau of Economic and Business Research, College of i Business, University of Utah in a report released by the bureau West increased its air stated that construction includifafgo tonnage 30 per cent last ing new residential and nonresi-dentibuildings, along with adlyeac over the amount handled rtiy.' Its. three part-- ; ditions, alterations and repairs, totaled $140.7 million for 1968. Vf-VIrn)ts paralleled a 22.8 per cent: This was a 4.9 per cent increase Increase in passenger revenue! over 1967s total of $134.2 milmi lies and resulted from the. lion, however it was well below Lfi&RU? two factors: more and the $138.9 million average over -- Trucking Hikes up 14.8 per cent over residential construction was also up: but additions, alterations and repairs took a drop of almost 29 per cent front $20.2 million worth in 1967 to $14.4 million worth in 1968. year 1967. New Air West Increase ...- Home showed building a ! Jaeger jet equipment and a er; .mgner-quHlit- icir$ route y : ' larg- strue-- i Harry D. Feltenstein Jr., the WASHINGTON (UPI) In father cl a dollar two separate actions Friday, lithium extraction plant row the Commerce Interstate built at Great Salt Lake, Commission canceled truck being - freight rate increases ranging up to five per cent. The commission overturned a tentative increase it approved earlier this year for 1.100 truckers in the Middle Atlantic and New England states on ground the truckers failed to prove their case for a rate hike. In another action, it also canceled a 3 to 5 per cent hike tentatively approved for 325 truckers in the Pacific Coast healthy increase m 1967 and this trend continued during 1968, but at a considerably slower pace, up only 7.3 per cent over 1967. Despite rising materials costs and high interest rates, however, it is expected that home building will have to be stepped the previous 10 years. up in the coming year to meet buildings demands resulting from new showed the biggest gains last family formationsregion. al - j - $ortee Rafted Buy Of Week "Police . Inc. has been selected stock of the week by the Electronic Stock Evaluator Corp. Following aie ti e selected .fecurlties and Friday s closing prices: Co. Continued strong research, manufacturing and marketing activities and a stimulated domestic economy should enhance long term prospects. Earnings for the twelve months ended December, 1968 were $1.12 per share veus $0.80 per share for the previous twelve months. ESE estimates eamings of $1.20 per share for the next twelve months. An annual dividend of $0.40 per share is paid. PORTEC INC. (!,')';) POR, formerly Poor A Co., manufactures, purchases and selis railway equipment for track maintenance and construction. Tire company has diversified into mining, quarrying and roadbuilding equipment areas, among others. POR lias agreed to purchase Electric Products Co. of Cleveland. Recent acquisitions and a strong trade position should aid future growth. Earnings for the twelve months ended December, 1968 were depressed to $2.00 per share verms $2.65 per share for the previous twelve months. KSE estimates earnings of $2.50 or share for the next twelve months. An annual dividend of $1.20 per share is paid. Stocks For Potential Capital Gains HAT CORP. OF AMERICA (U') HAT is a major producof mens hats and is diversifying into oilier areas of men's wear.-Tl- i ecompany has signed an agreement for the purchase of Cable Raincoat Co. and has reached an agreement in principle to distribute Eorsalino hats in the U.S. and Puerto Rico. An improved product mix and strong demand tor men's apparel should increase the earnings potential. Earnings for the twelve months ended October, 1968 were $0.72 per share compared with $0.38 per share for the previous twelve months. ESE estimates earnings of $0.90 per share for the next twelve months. An annual dividend of $0.40 per share er is paid. ELECTRONIC ASSOCIATES, INC. (I9V) FA is a producer of analog and hybrid digital-analocomputers and ' ' other precision instruments. New products, cost control programs and an increasing computer market support our beliet that the shares are attractive for the long term. Earn- lugs for the twelve months ended Decemlser. 1968 were $0.10 per share versus a deficit of $0.73 per share for the previous twelve months. ESE estimates earnings of $1.23 per share for the next twelve months. No dividend is paid. g ; KEIUIHOLD CHEMICALS, INC. (16) ltd is a prominent producer of surface coating resins. The company announced an agreement in principle l'j the acquisition of Superior Faint Manufacturing Co., Inc. and .American Paint Lithium Leader Quits Top Post BILOVA WATCH CO., INC. (15) VA is the largest manufacturer and importer of jeweled lever watches and movements in the U.S. Higher watch sales and lower interest charges should benefit margins. Earnings for the twelve months ended December 1968 were $2.56 per share versus $1.99 per share for the previous twelve months. ESE estimates earnings of $2.60 per share for the next twelve months. An annual dividend of $0.80 per share is paid. multi-millio- Chemical Corp. j I" 8 Contacted in New York City, ;Mr. Feltenstein said at the moment he would prefer not to give reasons for his abrupt resignation, but said there were some fundamental differences of opinion involved. I'm in kind of an awkward situation right now, he said. Mr. Feltenstein said he doubt-lethe moves would have any impact on the Utah project j Things are coming along beautifully there, he said. The whole project is still very close .to mv heart. I I 8 8 ; 1- - Harry ... Feltenstein Jr. awkward position D. ing on a lithium extraction plant at Great Sait Lake many years ago. His plans remained in the etn break. And thanks! raNKauBEXBaiGaa&HEBiu totaled 1967. 1968 NEW ISSUE DATE FEB. project. As envisioned, the plant has ponds covering 12,000 acres, and these are now completed. A chemical plant complex will be built to extract potassium sul-- ! fate, lithium chloride, magnesi-- i um chloride and other minerals Mr. Feltenstein explained that from the brines. he submitted his resignation Some 300 people are expected from Gulf Resources on Monday to be employed on the project. and it was accepted. At the same time, Gulf asked for his resignation from LCA, (which he has not done) and said his WANT TO BUY position with Great Salt Lake ADVERTISING AGENCY Minerals will be taken up at a with or without staff. later meeting of that organiza-t.on'Writ Full Details to Box board of directors. Mr. Feltenstein began work- - 13, 1969 drawing stages until his firm, Lithium Corp., merged with Gulf Resources and was able to bring in enough money for the. s ! in This is neither on offer to sell nor a solicitation of on offer to buy these securities. The offer is mode only by the prospectus. 500,000 Shares 4, MAJOR OIL CORPORATIOtl Common Stock Par Value ($1.00) price $3.00 per share Copies of the prospectus may be obtained by telephoning Bel Aire Securities, the sole underwriter, or by moiling in the coupon below. this paper. Bel Aire YOU CAN LEASE $085 Securities Telephone (801) Suit, 707 Judg Building .. Eight East Broadwiy Salt lake City, Utah 84111 Gentlemen, pl.ai. When your cirnerboy comes to coiiect, please make sure you're read. With tht ngM change, if possible. He'll appreciate it with a broad smile and s Think you. You see, because lie is in business hr himself, your newspaperboy depends on the full collection of his route for his full profit. Repeat calls mean extra work with no a Revenues A STATION WAGON Be ready for your profit. flinCreaSeinin1 d I newspaperboy B jpy And he is still president and a member of the board of directors of Great Salt Lake Minerals and Chemical, which is a joint venture by Lithium Corp. land Salzdetfurth, A G of West Germany. The company is a $30 million extraction plant at the lake. interest. ESE uses computers to perform commonly Oorv by Individual re search analysts. However, tn computer bat the advantage . speed, tnabiirf fcSfc to analyse approximately 2300 securities each week. in forecasting the price action ef a security. ESE obtains actimatet of and a consensus from dividends several tuurces. prooremmmg sales earning, oi these estimates into the computer. The computer, in turn, ast er a rating to tne security to serve as a ou'de tor ESE recommendations. Sinca me rating !s largely dependent on etimets obtained, the accuracy of a is oepenoent upon tne accuracy t tn estimates, in this recommendatiuft same respect, mt researen analyst and tne computer art subteO to tn limitation. General economic conditions, national crimes, or unpredictable news events iso may have influence on recommended securtes. Your broker will be pleased to furnish you with additional Information gardmg the above securities. (c) The Electronic Stock (valuator Corp. However, Mr. Feltenstein has not resigned yet as president of Lithium Corp. of America, a subsidiary of Gulf Resources & Chemical, although he has been asked to. j I United Air Lines net earnings $1,261,693,000, an increase of 13 cent over the previous year, dropped sharply in 1968 but traf-jpe-r fic and revenues hit record However, average revenue per highs during the year, it was 'passenger mile was down 2.7 announced Friday. per cent from 1967, while aver-- Tne company's net earnings ;a8e revenue per cargo ton mil totaled $41,750,000, equal to $2.23 dropped 4.8 per cent, per common share, compared: United set industry records on with $72,819,000 or $4.19 perall types of faffic. Revenue passengers totaled 27,221,000 share in 1967. 'compared with 23,947,000 in The earnings decline was .e operated blamed on further drops in unit 22,182,801 ,000 revenue passenger revenue yields with only a slight! miles, an increase of 18 per decrease in unit operating cost cent. Freight ton miles totaled tcrest expense. 430.040,000, up 24 per cent over has submitted his resignation as a director and executive vice president of Gulf Resources & Tn Electronic stock Evaluator Corp. (ESE). Rockville Canter, N Y., hat e tweeted tn five securities above tor outstanding fundamental value and market n UAL Net Eamings Take Sharp Dip mail 521-672- . 1 a copy at tha MAJOR Oil CORPORATION proipedus toy NAME t AODRCSS KMietsses Equipped with Radio, Heater, Overdrive, Other Extras. Cal! 328-964- 3 . UTAH Ask for Lease Manager R&R LEASE TO BUY 0 (only amiable to bona fide residents of theSlate of Utah) I '' |