OCR Text |
Show YfT' wyW)iqyffipyi yy yy'yv1' tF DESERET Variable Rates Proposed meirat Investment cL.js are multi-- i plying at a phenomenal rate all over the country, according to a pair of national organization of- - McLane who also is a public relations consultant with International Harvester Co., was the speaker at the Salt Lake Rotary ficers visiting in Salt Lake City. Club luncheon. She is sch duled The clubs are increasing at for a talk at the Twin falls, ttte rate of 100 to 125 a month, Idaho, Rotary Club Wednesday. said Helen J. McLane, Chicago, Her subject, What Life Is Likevice president for publicity and ly to be Like in t!- - Year 2000." member of the board of direcMr. Janke edits the tors of the National Association Shop," a section of Repair Bettor of Investment Clubs. the official publicaInvesting, .She and Ken Janke, member tion of the national association. In the U.S. there are about of the association staff, met investment clubs with Monday night with officers and 45.COO directors of the associations some 10,000 members, Miss Utah Council.' Today, Miss McLane said. These clubs have 4 1Y A Y"l1t To End Mortgage Freeze assets of over $750 million. grow th rate of 16 per cent which She explained that club policy is more than enough to double xeV YORK (AP) One vay sponsored by the Mortgage is to invest regularly to avoid the investment in five years. t0 combat the L.hronic shortage Banking and Investment Instisecond guessing the ups and' nVeSt0rs an "ot, of mortgage money, Sherman J. tute of the New York University downs of the market; growth' traders.ie..We want to get high,, iUscl of School of Continuing Education., ,he Fcd.Prai X stocks aie acquired for long- performance stocks and hold term capital gains and all in- - them as wou ,0 Perm't s "The ability to write loans long as earnings come is reinvested for the ad- tinue to lenders to change the interest with increase, she said. kickers however is, vantage of compounding. She noted that in the first two rate during the life of a mort- - limited, Maisel said. The avenge investment per years, a club is expected to lose gage. club member is $15 a month. money while the members gain Variable rate mortgages al- the clubs are adding experience. Overall, about $10 million a month to In addition to economic gain, ready arc ust-- to some extent Dw' bvy any vmt ntl tint try It Ml. Owr wait nrrirt thw ilrHit their investments. Our aim is the clubs stress education and in financing construction of wtl vtrtatM wt any. FMt to double our money every five sociability, Miss McLane said: apartment houses, Maisel said ASSOCIATED ELECTRONIC ENGS. years, Miss McLane said. The .The national organization fur-- . Monday at a conference on 14labI. City.im. Utah M109 a nishes help to the local units, j mortgage market developments. typical club is enjoying - t V NEWS, yywyoyw1 March Tuesday, 4, 1969 9 More Business SOUP and SANDWICH LUNCHEON SPECIALS! News On Soup du Jour, Egg Salad Sandwich, Bsverago Bowl of Pages B-1- B-- 0, ll Bowl of Soup du Jour, Chicken Beverage Salad Sandwich, sa-v- con-j03- 1 ..'..Me Bowl of Soup du Jour, Grilled Cheese Sandwich, Beverage Your New Source For W? Chemicals" INDUSTRIAL AGRICULTURAL LABORATORY hxhpiiom: wsufiiim; Bowl of Crisp THATCHER CHEMICAL try-M- Chili Saltine Crackers 50c TEMPLE SQUARE COFFEE SHOP CO. Now located at 1900 Fortune Road (14S0$a 1900 West) Phont 486 729S 7 79c 75 W. SO. TEMPLE. SALT LAKE CflY , FREE FmiMC IN TERRACE f J &Wn'u)lli,f ' Paul Huish . . . heads IEA Electrical fj Confab Scheduled t 1 Leaders of the Mountain West electrical industry will install a new president at the 48th annual Conference of the Intermountain Electrical Association Thursday. f Paul Huish, owner of Huish Distributing named Co., has been president of the associa- tion for 1969. He succeeds (Rcy Timmons, owner of Distributing J, L. Pole-Lin- e Co. f The conference, which opens tt 9 a.m. in the Hotel Utah, will include a seminar addressed by T. F, Bartley, director of marketing training services, Whirl-jjoCorp., Bentorv. Harbor, Mich., and Dick Cox, manager, dealer education, for the same Company. ol Merrill Lynch U.S. Steel sees reason for concern in the present speculation H To Form unseasoned securities. in Division New . t - PITTSBURGH (AP) U.S. Steel Corp. announced today the fofination of a new division to acquire and develop real estate. .Board chairman E. H. Gott stud it will be called USS Realty Development. ;We plan to acquire real estate either undeveloped or and to partially developed iqpprove it through planning and construction. We plan to sell, retain or operate these projects as may be indicated by the facts in each case, Gott lefcse, E$id. Many new issues offered during Decern ber, and in the first weeks of 1969, have also risen above their offering prices. But premiums have tended to be smaller, and many issues that did command substantial premiums have subsequently dropped. . Is this a straw in the wind? Merrill Lynch has just taken a dispasmarsionate look at the whole in a its summarized ket, and findings Research Report: it is called, Reason for Concern." If youd like a copy, clip the coupon below. Meanwhile, you may find it prudent to review these highlights. new-issu- es 10-pa- ge USS Realty Development, h$ said, could be involved in a best of projects which would in elude a broad spectrum of business and commercial ventures covering all phases of American -- 154 new issues offered to the public August and October 1 968, 1 40 went to premiums on the first day. fe. rash: a symptom of fever? New-issu- e In 1968, new issues came to market in droves. In the first half of the year there were 422 offerings more than double the number for the equivalent period in 1967. In the whole history of the market, 1968s total number of offerings has been exceeded only by the total of one other year: 1961. I J Puzzle: find the earnings Neil L. Davis Insurance Consultant, Tracy Insurance Agency issues have taken one and flown despite noteworthy drawback: a complete absence of earnings. Examples: As in 1961, many new off You Come First With Tracy Staff An jtw company, . anti-polluti- on ic newly-publ- we believe the company has long-tergrowth prospects. We do not underwrite new issues unless the company is an important one in its industry. We do not urftjerwrite new issues unless we are convinced that the price of the stock is fair and reasonable in relation to actual and projected earnings. If you are interested in a new issue, we recommend that you carefully read the prospectus, the circular filed with the SEC that describes the company and its stock issue. In addition, after the new issue is out of registration, you can always ask us for our opinion of the stock. As weve said for 38 years had gone bankrupt. had disappeared. The S.E.C. estimated that about 1,000 companies making their first public offerings during the previous decade had failed having raised $100 million by 1962-af- fer from investors. 5 8 m indoor-recreatio- ol own. But as Merrill Lynch's new report points out: "Should the market decline. ..the price- earnings multiples for new issues would drop, as would the multiples for seasoned issues of ed companies. If A recommendation... and a cautionary reminder Merrill Lynch believes that, now as at any time, there can be attractive opportunimarket. ties for investors in the new-issuWe ourselves are underwriting new ises sues, and offering them to our customers, in substantial quantities. However, we do not underwrite new issues unless the company concerned has mg he Corp.) We do not underwrite new issues unless overall speculative interest were to wane, y issues would be among the the first to suffer. MERRILL LYNCH, PIERCE, FENNER SMITH INC Free Research Report To: Merrill Lynch, P.O. Box 333, Wall Street Station, New York, N.Y. 10005 After the 1962 market break, the S.E.C. traced the fortunes of nearly a thousand companies that had gone public" in the previous decade. of these companies were found to 39 be in good health, or were merged into other going concerns. But 61 were in trouble: 25 were operating at a toss. 18 were no longer active. 5 had been liquidated or dissolved. Please send me, without charge or obligation, your new report, market." Reason for Concern a study of the new-issu- e MR. MRS. -- PHONE- MIS- S- (pl.u. AODRFS- CITY. print) S- -- STATE- Kennecott Building 84111 -- ZIP. Nl Let Salt Lake Citys Merrill Lynch office be your Investment Information Center. i & BB stars (601) 328-461- 1 I t 4 lowest-qualit- The fallen it F substantial earnings. (There have been some exceptions such as our offering of Comsat, tha Communications Satellite 10-pa- ge k i' Investigate1 Then Invest.' s, Sec Neil Davis now for your insurance needs.mm vmjirmmr al whose shares were offered at $5, recently traded at $19, despite the fact that it has not even begun operations. Because Tracy reprenot sents a number just one- - of nationally proven insurance a policy can be arranged to best suit your needs. com-anic- information-retriev- company, offered at $10, was recently bid $23Vi: it has not yet begun production. Furthermore, as in 1961, the stocks of other companies that do have inflated to almost ridicbeen have earnings ulous levels: n An company has been 130 at times earnings. selling A weight-contrcompany at 160 times. An electronic data processing company at 290 times. A few of these companies may, of course, report substantial earnings in the next few years, and as long as the market continues to rise, most of these will probably hold their An OF Just walk Ini |