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Show 'yv-yTTYrvy- mrr Trv y uu cvyyTwvYTryvtyvnrvyy To Construct 7 Mew Terminals u Profit Up BAAL rV 8 Pet. m At Zions IML Freight Inc., Salt Lake1 d motor carrier, plans Zions First National Bank into open seven new terminals' creased Its net operating profits this year and expects its growth by eight per cent last year, said to continue at a pace greater Roy W. Simmons, president. the than industrys average. Profits were $1,887,000, or Thi forecast was given $1.39 per share, compared to MusWednesday by Allan D. $1,749,000, or $1.29 per share for grove, IML president, who said 1967, he told the board of directlie carrier's revenues last year tors. increased at a healthy pace to The increase came despite the more than $52.5 million. This 10B Thursday, January 9, 1969 costs of introducing the new year revenues should hit $58.5 Master Charge bank credit million. card, he said. During the year Since IML is a subsidiary of a for other moto- - carriers, he taxes, and $9,834,000 in local Zions introduced Master Charge in conjunction with the Valley purchases family owned corporation, the added. Gates Rubber Co. of Denver, it! Musgrove Said IML was In contrast, its revenues from Bank & Trust Co., and Continenis under no obligation to release 'puUng all o its proflts back Utah wee $7,200,000, and a tal Bank & Trust and some 30 its financial statements to the jn(0 (be carrier. major share of that came from other Utah banks. public, other than some reports This program cost us some Jhe company js defense installations. Durjng The company has 1,000 em- - profits, but in the long run we meceVommission planning to spend nearly $8 milin capral expenditures, ployes in Utah, making it one of expect it to pay rich dividends However, Mr. Musgrove said,i!ion Mr. $4.95 million for newjthe states largest. The average on the money invested, 'including the company, is proudofjne Yn Los Simmons said. e also is about Angeles, high contribution it makes to Utah The credit card has been a Louisville, New $11, 000 per employe, thanks to and of the role it plays in the land, Chicago, success to date. In fact, we are Pitts- - the wages paid to 450 line and Haven, Harrisburg states economy. For that realers, who alone average more substantially ahead of projecson, he said, he felt Utahns had tions for the end of the first six than $14,000 each, items all He that stressed an interest in knowing how the months of actual use. he said. he said Mr. was the for Musgrove such as office equipment line was doing. over rumors that IML During the year Zions also all indications, it is doing new terminals are bought the Bank of Spanish wen! he added Urt fear it had ly. further adding to the compa- - might move to Denver, and flat-a- n acquired Fork and We more denied them. opened the Sugar get ly operations. operating ratio of 91.6, a fig- - nys Utah House branch, both of which d we than here oin productivity IMLs Last expenditures, ear, ute based on I.C.C. accounting' proved to be very worthwhile he said, methods which simply means in the state were substantiaUy 'Denver, was founded 40 steps, Mr. Simmons said. The from its company revenues more than $100 for that it cost $91.60 every He also expressed confidence in 1929 by the late in revenue it brought in. This freight operations. They totaled, years ago for the future and said 1969 sold was to T. S. Carter It IMLs is substantially $21,332,000,. and figure-oshould see some Interesting de1965. in Rubber in $373,000 ratio'$ll,125,000 payroll, injGates lower than the normal 94.7 velopments for the bank. jr - driv-burg- h. U . P. (Buys 'Post' Rejects Grove Offer - The Union Pacific Railroad has purchased 1,200 acres of land near 30th West and 21st South in what it termed one of the most significant land acquisitions in Utah in many years. An NEW YORK (UPI) offer from Grove Press, Inc., to buy the Saturday Railroad Delays and M. Walker Wallace, all Salt Lake businessmen. Godfrey said, the purchase brought U.P.s land Inventory in the state to almost 5,000 acres, which is certainly John W. Godfrey, chief execu- resounding evidence of our faith tive officer of the railroads in the industrial future of the land division, said the land was state. purchased for industrial develWhile we have prospects for opment purposes. utilizing some of the land at Cost of the land was not dis- present, we believe the balance closed. The sellers were Leland is extremely Important to the S. Swaner, John M. Wallace Jr. future, Mr. Godfrey said. Post has been Martin S. Ackerman, president of the magazine company and the parent Curtis Publishing Co. said Thursday. '.He did not' reveal the terms of the Grove Press Evening rejected, offer. Land However, Mr. I Halt Of Trains - WASHINGTON (UPI) The Chicago Burlington and Quincy Railroad has agreed to postpone for one week its plan to drop two trains between Omaha, Neb., and Billings, Mont. The DOWNTOWN AUTO 8 A.M. CENTER OPEN AT MON. THRU SAT. GUARANTEE AGAINST FAILURE Penney t guarantees every Foremost tiro this guaranagainst all lailurts la usa tee lasta for tha entire guarantee period stated for each tire. If the lire fails during the guarantee period, return it with your guarantet certilicata and Pennays will, at its option. (1) repair the tire, (?) replace it with a new tire, or () give you an immediate refund. If we replace the tire duung the free replacement period, there it no charge; if we replace the tire after the free replacement period, you pay SOS or 25 less than tha current selling price of the fir includ.ng tha Federal Ei-- I cist Tax see guarantee against fsilura ch-- rt lor details). Industrial Aide For Chamber The Salt Lake Area Chamber of Commerce today said it would strengthen its Industrial Development Department and named Lee Jorgensen to manage it. community relations. DYNAMIC EFFORT This appointment was necessary to strengthen our industrial approach and we are confident it would round out our industrial team to provide a effort in attracting dynamic new industry, said Max E. Rich, executive vice president of the Chamber. NEW YORK (UPI) Utah is a potential steam well site in the "great steam rush which is centered west of the Rockies. United States companies in recent months have decided to drill seriously for geothermal power locked in the earths molten cpnter. The rigs are especially active at the Geysers, about 80 miles north of San Francisco, where Pacific Gas & Electric (PG&E) since 1960 has been producing electricity from steam created by molten rock, or magma, under the earths surface. PG&E plans a $50 million complex capable of 250,000 kilowatts, enough to turn on San Francisco. Oil companies also are in the steam race. Occidental Petroleum, Sun Oil and Union Oil are prospecting. One company tying its future to steam is Geothermal Resources International, Inc. (GRI) which has leased 96,109 acres in California, Nevada, and Oregon and is looking at potential steam well sites in Utah, Idaho, Colorado, Montana and the Philippines. Last September it joined with two firms to drill wells and build generating plants in the Geysers area and within 22 months expects to provide 300,000 kilowatts to 11 northern California communities. If wells can be tapped close enough to the earths surface 600 to 8,000 feet the profit potential is good because the cost of such power is about 23 per cent less. Finding them can be dangerous and expensive. One well in the geysers area erupted with such force the scalded workmen thought they had tapped a live volcano. It has been running wild for 10 years, so great Is the underground pressure.- biummiti ' 4 A, Y. ,v & '$ v-- r V.,' - ' P Drilling for geothermal power. The earths crust, about 20 miles thick, is too deep for economic drilling at this point However, in some areas mostly on government land volcanic west of the Rockies activity has cracked the crust, letting steam escape through fissures or fumaroles. In other instances, the molten rock or magma has been exploded close , Keith J. of Utah-Idah- Evans and Associates, secretary - treasurer; and Harold W. Siirrson, director of public relations for Mountain Fuel Supply Co., assembly delegate. All are from Salt Lake City. Mr. Wallentine has been ptiblfc o relations director at Sugar since 1963. He was manager of United Press Internationals Salt Lake bureau from Utah-Idah- 1955 until 1963. He is a graduate of the University of Utah and is a past president of the Utah Headliners Chapter of Sigma Delta Chi. - - - . Keith Wallentine - plus fed. tax BLACK TUBELESS hew y.vr guarantee failure war lit: Here's inrire guarantee Free 50 25 eif peried off peried . retreads on sound tire bodies... plus 18 month jguarantee with 9 month free .. replacement menihs meniht m.nltit -t 10-1- 4 . Long Wearing gainst peried IS-t- g 31 f. 650-1- 3 , Igmenths p.ri.d , r. placm.nl Fd. Tax Six NO TRADE-I- N NEEDED! Off). - W f- --gr n- m tto I tat O) BO ? mmm tom wm tto w m mm NMM MO 9W to MM tosai to to lufftto to to toe toto evtoito tototo meMto to COREMOST Foremost1 I'MM'IWI tort - Ns BO Mv to Out fcto St Wto HUM KM Mf tototoV CftMt! (f) to CLOSEOUT! JUEJUfr t MARANTIC BAHIRT m YS TTTUILfT-T- to mu. Mileagemaker wtotoi. RELIANT 12 VOLT Guarantssd 24 Months 12.95 735-1- INSTALLED 685-1- 5 5 TYPE 24 WITH TRADE 24-M- FOREMOST PERMANENT ANTI FREEZE & plus 2.07 Fad. Tax plug 1.96 Fed. Tax GUARANTEE Entlr guarantee psrled Free replacement psrled 50 eff peried 25 e H peried kg NOW ONLY ORIG. NOW L design cars the way we design jet planes. For maximum performance, comfort and safety. We 27.52! Crager Wheels 171.52 AUTO CENTER DOWNTOWN SALT LAKE 24 meathe menths 13-- 1 menihs IP-2- 4 menths SAVE 4 SAAB FOR iMsmi now tvtil.bl n.tion.lly, Unusuit ovri plan: Fr ihipmtnt from Swtdtn to P.O.C. Et Coast Qp CLINE'S AUTO SALES $M4 5540 South State, Murray, Utah Open Man., Thwrs.y Frl. till p.m. K - enough to the surface to make drilling possible. ' Finding steam wells on public land, at accessible depths, then harnessing them to turbines is the problem. The potential ip staggering. Power from steam wells will be virtually inexhaustible when a technology permitting recirculation of condensed steam back into the ground is refined. GUARANTEE AGAINST TREAO WEAROUT Penneys guarantees evety Foremost Ur (except the 72 series) agiinst trsad wsar- out for tho entire guarantee period. You benefit as follows: if your tiro wears out during tho first half of (ho guarantee period, return It with your guarantee certificate and Penneys will replaco your tiro with new tire (the charge for this will bo 50 of the current selling price Including Federal Excise Tax)i if your tiro wears out during the second half, tha charga will bo of the current selling price including 75 Federal Excise Tax. These guarantees do not apply .to com. mtrcia1 usa of tires. ,4 Sugar Firm Aide Heads PR Croup Wallentine, director o relations for public 6 COMMITTEES was Co. installed Sugar Mr. Jorgensens duties will include directing the six work- today as president of the Intering committees of the industrial mountain Chapter of the Public department, liason with national Relations Society of America. location consultants, coordinaMr. Wallentine succeeds tion with other industrial agencies and handling publicity and James Hamlett, a public relamedia relations for the Cham- tions consultant, as president. ber. Other new officers of PRSA A native of Brigham City, he for 1969 Include C. R. Rockwell, of a veteran and ,is broadcasting public relations for the past 11 public relations representative years. He is a graduate of for Union Pacific Railroad, vice Weber State College in business president; G. Robert Ruff, senior vice president of David W. administration. department. $4 ia Oil executive who heads the transportation department, and Kay Dimas, manage; of the information and research FOREMOST TUBELESS RETREADS PASSENGER TIRE GUARANTEE Lee Jorgensen . . . industrial aide trains stop at Sheridan, Wyo. He said the appointment The Interstate Commerce should also bring in new ideas Commission asked the railroad to keep pare with competitive to keep the trains operating trends, and a cooperative assist until Jan. 13. The commission to other agencies devoted to the asked for the extension to com- same objective. plete its report on the railroads The Chambers Economic Derequest to drop the trains. velopment Council also includes William L. Fields, an nter ( - Mr. Jorgensen has been manager of public affairs for the chamber since October of 1967. Before that he spent six years with Thiokol Chemical Corp. as The banks annual meeting is customer relations representaset for Feb. 28 at 3 p.m. tive and assistant director of included f Utah Offers Potential For Steam Well Drilling i City-base- Oak-wag- v WTT'vyTr'w'yvrTVfV trvf u try y v vyyvi v v tTVi'vryyv ... PR president cr |