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Show Tt w to tr r yynOYtvw yy ynrv y Greets Building industry - At least this was the optimlo-ti- c consensus of government spokesmen, representing both Democrats and Republicans, who appeared on a major panel program at the 25th annual convention of the National Association of Home Builders (N4HB). Although the recognizing seriousness of the tight money situation and the growing shortage of manpower, the speakers agieed these are problems that can be and will be solved. Howard J. Samuels, chief of the Small Business Administration, said the abundance of the nations growing wealth can make adequate housing for every American become a reality if we combine strong government leadership with a little creativity. William B. Widnall, r a n k ing minority member of the Banking Subcommittee on Housing, called for realistic adjustment of FHA and VA ceiling rates to eliminate discount points now being paid on home mortgages. He outlined a flexible formula which would raise this Rep. REPORT OP CONDITION OP Walker Bank and Trust Company Salt Lako City, Salt Lake County, Utah S4U0 at thy dost of business December 30, 1968, a state banking Institution organized and operating under the banking laws of this State and a member cf the Federal Rater System. Published in accordance with a cell made by tha State Banking Authorities and by the Federal Reserve Bank of this District ASSETS CAPITAL ACCOUNTS MEMORANDA Cash, balances with other banks, and cash Items in process of collection $66,110,143 93 United States Government obligations ?7i3lM17 l5 Obligations of States and political subdivisions 3M9L799 6 Other securities (Including no corporate stocks) 512,WI,69 Federal funds sold and securities purchased under agreements to resell 100 000 00 Other loans and discounts 175,199 810 76 ftanj: premises, furniture and fixtures, and other assets representing bank premises 4,379,185 3 Eea estate owned other than bank premises 65,044 20 Ofha,-- assets J,3M,04. ........ ........ TOTAL ASSETS $308, 147,349.25 LIABILITIES Demand deposits of Individuals, partnerships, a no corpo- . ration, $104,193,118.41 Tim and savings deposits of Individuals, partnerships, and Corporations 112,590,996 45 Deposits of United States Government ... 419,123,06 Dapaaltj of Stataa and political subdivisions 43,024,285 24 Deposits of conmtrcial banks ... 13,375,144.27 3,170,533!5T entitled and gfflcer's checks, etc. TOTAL DEPOSITS (Items 13 to 19) $279,473,902 94 . fa) Total demand deposits 139,501,777.75 b) Total lima and savings deposits.... 139,972,125.21 Other liabilities (Including no mortgages and other Hans on bank premises and other real aslata) 4,329,244.94 ........ TOTAL . ... LIABILITIES $215,803,149.92 CAPITAL ACCOUNTS (a) Capital notes and debentures (b) Common stock total par value No. shares authorized 944.044 No. shares outstanding 944,044 Undivided 3,200,000 00 1,912,912.50 10,007,087 JO 3,144,199.33 profits TOTAL CAPITAL ACCOUNTS TOTAL ANO CAPITAL ACCOUNTS 830$, 147,349.15 MEMORANDA of total deposits for th 13 calendar days ending Average . with call datt 'Average of total loans call data With Loans 22,344,199.33 LIABILITIES 349,303,441.00 for tha 15 calendar days ending 173,324,979.00 shown "Assets" ora after deduction of valuation of 3.209,444 40 A. B ssler, Jr., Chairman of tha Board and President, of tha above-namebank do hereby dtclaro that ttila report of condition I true to lb bast of my knowledge and belief. A. B. KESLER. JR. e We, tho undersigned directors) attest tha correctness of this report of condition and declare that It has been examined by us and to the boat of our knowledge end belief Is true and correct. J. HAROLD FIRMAGE, GEORGE WINDER, FREDA. MORETON, Directors. STATE OF UTAH Department of Financial Institutions ' t, Spencer C. Taylor, Chief Examiner, do hereby certify that tha foregoing Is 0 true and correct copy of tha statement of tha above-name- d bank, filed In this offlco on January 14, 1949. SPENCER C. TAYLOR Chief Examiner. State of Utah, County of Salt Lake ss: (worn to and subscribed before mo Iftlt 14th day of January, 1t49. GORDON F. SCHEFFNER, Notary Public. (Seal) In reserves - 1, ' decade. He listed several reasons why he felt that way: mainly the new housing act, which was passed in 1968 but has not yei been implemented. He noted, too, that the Income surtax charge instituted in "has not yet reached Its full impact." Among other factors he said will cool off" the economy are government spending cuts, the latest increase in the mii-196- Hr-T- Prudential Federal Savings and Loan Associations assets are now more than $213 million after an increase of $16 million last year, said Gene Donovan, First Federal Savings and Loan had a net gain in savings of about nine per cent over the previous year, said M. L. Dye, president, at th 2 associations annual meeting Wednesday. First Federals assets at the close of the year were at a record high of $43,408,555. Savings were also at a record $34,837,568 Mr. Dye said 1969 was full of promise" for the Utah economy. Nationally, he said, the president. biggest problem is inflation and there are signs the Nixon administration will take steps Mr. Donovan told the annual meeting Wednesday that mortgage loans and contracts were up $17.9 million last year. Savings at the end of the year were $173.3 million, an increase of $9 million. Mr. Donovan said savers were paid a new record $8 million on their savings accounts last year by the association. Mr. Donovan said Prudential recorded $21.1 million in mortgages in Salt Lake County last an amount which year exceeded the next largest lender by $8.15 million. Herbert L. to slow down inflation. First Federal added $343,000 in reserves last year, and it increased the number of new accents by about savings Price ... heads BBB 3,000. Elects H. L. Price As New Chief BBB Education Problems TeleMation Gets New Plant Site years. The BBB elected new officers during their annual meeting at Hotel Utah. Other officers elected are Hal Collipriest of KLUB, vice president and Robert Murray, Prudential Federal Savings and Loan Association, treasurarchitectural plans were avail- er. Marvin Yeates was renamed able. The development Is a joint executive secretary. venture with KUTV It was New directors elected include noted. John Anderson, Quality Press; TeleMation is one of Utahs H. N. Aloia, Hotel Utah; R. fastest growing industries. It Wayne Bentley, J. C. Penney has grown from 25 employes Co.; Steven C. Richards, Granand sales of $400,000 in 1963 to ite Furniture; Robert B. Ste162 employes and an estimated wart, and Clifford ZCMI; $4.8 million in sales from Janu- Whatsitt, Albertsons, Inc.; ret, elected directors were Mr. ary through October of 1968. The company has r ifices In David B. Castleton, Salt Lake City at 2275 S. West Castietons Inc. and Robert TemTemple and in Atlanta Ga. and ple KUTV. affiliated with TeleMation, has acquired a companies, site to locate a 60,000 plant at 3600 W. on 21st South, it was reported In the companys newsletter today. Although an airport now, the area Is rapidly developing into an Industrial area. Utah Central Airport is being discontinued in favor of an integrated industrial development tentatively named Communications Park. TeleMation will be the first New York City. project in the area. The new plant will house administrative, sales, manufacturing and ware100-acr- e t housing facilities. It is expected to be ready for occupancy during late 1969. The company presently leases five separate buildings in South Salt Lake City. The rapid exparsion of the firms line of television equipment, as well as the Increase demand in education and CATV (cable televifor sion) equipment, requires roomier, more efficient quarters, it was explained. No details as to the cost and Colli-pries- Produce Market Western Union Tenders Offer NEW YORK (UPI) -Western Union, which operates the Western Union Telex service, plans to buy a chief competitor, Bell Systems Teletypewriter Exchange Service (TWX), for about $80 million. this Suggested S3995' CHICAGO (UPI) Produce Cheese: 5 lb processed loef 49'A-5- 8 V, ; Muenster 54-- 4 11,) cLedd brick ,; ers: single deletes longhorns Swiss 40 9 lb blocks (wheels): Grade A loo few to report; Grade B too few to report; Grade C too 0 tow to report; blocks lb): Grade Grade A 3 Grade B C Vl. Wlioleeale prices as reported by the Chicago Mercantile Exchange: Butter uneven; 91 score 44; 92 score earlats U score 44; 90 score 90 score 44; 19 score 42. Egos steady; white larae extras 48; mixed large extras untraded; mediums 44; standards 41; checks 28. POTATOES: Total shlpmants 412; old and now sales 14; trade 8; supplies very liaht; demand for round rads good, for russet bur banks moderate, baker alia alow; market steady. Track tales (100 lb. U.S. 1A unleee otherwise noted): None. Street sales-- . Russet burbenkt Idaho Minnesota-Nort- h 4 Michigan 4 Dakota round reds 3 25-- 50. Onions: Arrivals S; track 22; eupoIlM moderate; dement1 fair; market steady. Track sales: Idaho yellow Spanish largo 2.30. n Street sales: yellow Spanish large 2.40-- 50; Midwestern yellow 1.03-Illinois 25; Indian medium 1 white medium to laree 1 Idtho large 2.75-- 3 00; medium 40; 43; S.L. Building Pacts Up 79 Pet. Total building contracts for future building in Salt Lake City for November, 1968, were 79 per cent above November, 1967, it was reported recently by the F. W. Dodge Division of McGraw-Hil- l Information Systems Co Total value for contracts in ture, legislative leaders said Herbert L. Price, business and industrial relations manager of the Newspaper Agency Corp., Wednesday was elected president of the Better Business Bureau of Salt Lake City. Thursday, January 16, 1969 6C The problems of education both in financing and in the over-al- l philosophy governing will be the main it in Utah concerns of the new Legisla- He noted a sustained Interest rediscount rate and the in- in home improvement loans crease in family formations throughout the year. These which he said would place were up 10 per cent from the huge demands on the housing previous year. Gross new loan volume was market in 1969 and the next Mr. Price, who served as vice decade. $38.8 million. president of the BBB last year, succeeds Harold B. Dobson of the Lockhart Co., who was president of the organization for two square-foo- ' w First Federal Reports 9 Pet. Gain In Savings $I6Mii!ion ceiling from its current 6 per cent to 7 per cent. Sen. John Sparkman, who has been one of the leaders in drafting housing legislation for 32 years, said, when we look back next year we and 10 years hence will find that some of the fears we have today were false. The senator said he is highly optimistic about the outlook for housing production this year and through the next ryvrry n CORNER ON COMMERCE Prudential Assets Up ptirrossm Copley News Service A new ConHOUSTON gress and a new administration will help the building industry solve its problems and meet the nations housing goals, now tentatively fixed at production of 26 million new dwelling units in the next decade. f today. Appearing before the Salt Lake area Chamber of Commerces Presidents Council were State Senate President Haven Barlowr and House of R e p r e sentatives Speaker Lorin Pace. The Utah Central Credit Union reported that there has been a growth of $1,037,000 in Independent Petroleum of America, IPAA president Harold M. McClure Jr., Alma, Mich., has announced. They are: Fred H. to $11,449,878. Hito Okada, president of the made the credit union, He announcement today. added that the annual meeting of the association will be held tonight at 7 oclock, at the Ramada Inn. Business at the meeting will Include election of three direc- States. appointment of Plans to merge Mortgage Investment Co. and MIC Investment Corp. were announced Wednesday following a meeting of the two firms directors. Kent M. Whitney as an Account Executive in our R. George Gregersen, chairman of both boards, said the merger, which calls for a exchange of stock, is subject to ratification by stockholders of the companies. Investment, a Mortgage Utah mortgage and closely-hel- d contract financing company has consolidated assets in excess of MIC Investment $6 million. Salt Lake City Office Dean Witter & Co. INCORPORATED public stock company, 15 deals In real estate contracts East First So., Telephone 34 328-3- 4 and loans. AT A PRICE YOU CAN.. AFFORD!!! UP TO feeder lambs SIX MONTHS TO PAY NO INTEREST NO CARRYING CHARGE classes stsady to strong; cows: canntre and cutlers mostly 14 utility and few odd, tttnderd head high yielding cows 21.40; slaughter all fed cattle carrying bulls 20 led steers: choice fed titers mud; 25 70; good to low choice 50 fed hell-- : standard to low pood 22 ers- - choice 25 good to low choice 24 to low 10; standard good 22 40; feeder cattle: very active lb feeder fully steady; choice 10- steers 37 b food feeder 23.90-3- 4 0 lb steers 40; pood To low 23 medium pood all Holstein weight feeder titers 73 lb feeder steers 33 40; pood lb 50; steer calves 33 31 heifer lb ctlvtt 28 lb - all commercial FISHING HUNTING CABINS BOATS TENTS STADIUM Portable, flameless catalytic heaters have been a hot idea with lukewarm performance . . . until now! Most outdoorsmen have been using a mushroom shaped" liquid fuel heaer with a dangerous a when started flare-u- p te n. Modtl 4000 Compact eal for stadium, pickup camper, etc. Adjustable, 1200 to 4000 BTU's. Same fast startup. same safe, flameless model-id- S24ss s Retail J operation as Traveler 7000. Overall size, 0 6 x 12. X M.T. Whitowall-4-p- In Salt Laka City State Duce Sporting Goods, 3975 Wasatch Blvd. In Ogdmn K Mart, 3636 Wall Ave. KAMMEYER'S, 318-24t- h St. St. K Mart, 2705 Parleys Way SUNSET SPTG. GOODS, K Mart, 1770 W. 4100 S. SUNSET SPTG. GOODS, 5451 S. 1900 W., Roy Mart, 4670 S 900 I Whittwall-4-p- ly ly 8.25x14 7.75x14 NEW YORK (AP) Spot rtonferrout metal prices Thursday: Copper cents a pound, Connecticut Valley. Lead IJ cent a pound. New York, zinc 14 cents a pound. Esst St. Louis. Tin 1.41 a pound, Naw York. Gold 842 98 per troy ounce. New York. Silver 2 08 per troy per ounce, New York. Quicksilver 8528-83- 2 York. fietk. New Salt Lake Eggs Check These Exclusive Midas Budget Pica Features It Will Save You Many Dollars mark at unchanged prlcat to reft lKg itre dallvared to fttorM to carton cam txchangfd: Gredt AA aatre largeAA .5365; greda47- - AA larga .50 5$; grad37 40 madl-uPHcm A small 50; to prod wears: Grade AA larga .3P4D'i; AA AA medium ,36,3 grad grd amatl .2.29'i. '; K 14!? ly 6.50x13 rdt Consumer Division Brunswick Corporation P. O. Box 270 Tulsa, Oklahoma 74101 Duce Sporting Goods, 3&50 S. 4-p- Metal Market - a snuffer wait for But now there's a flameless catalytic heater ' youll really warm up to: the ZEBCO TRAVELER! Full heat output within 45 seconds. Fueled by safe, clean, disposable propane cylinders. Heat adjustable from 2000 to 7000 BTU's at the twist and heat flow can be beamed in of a knob direction! any cool-dow- Whlt.wall te straight- up heat flow extinguisher, and another wait for full heat output CUSTOM PREMIUMS DENVER (UPI) L'vestock: Hoot 700. Barrows and allts 50 eentt lbs. 20 higher. US. U S. lbs. 20 25.20 75. U 8. 3 4 lbs. 50. U.e. lb. 20 19 Sows steed. l.S. lbs. 15 4 00. Sheep SO. No feet of market. Cattle 10.000. Bulk receipts feeder cattlt now In progress. for special auction Early teles steers end heifer calves 50 cents to 1 50 higher than lea week. Steer, lbs. ' calves, choice and prim 34.10-3lbs. lots 90. Few 80. 37.30-:-$ lbs. X 75. Choice Load 335 lbs. 35 40. Heller calves, choice Few lbs. 29 and prim 325-4Choice lbs. loads 00. 320400 lb. X 70-- MODEL 7000 3?4-24f- h NEW YORK (UPI) Wool tom futures opantd five to nlna points lower on tha Naw York Cotton Exchange today. Prices: March 163 3B, May 164 0B. July 164 DB, Oct. 164 SB. Dec. 164 IB March US IB May US 4B. (1 f70 Greas wool futures epensd four to hint points lower. Prices Murch Ilf 3B. May 130,08. July 170 3B, Oct. 170 SB. Dec. I70.7B March (W0) 170 ?B. May U1.4B. 18, Wednesday'! Btnk Debris Sam Day Lest Veer MUFFLERS Stock Glass Pack NO CARRYING CHARGES Custom Duals $ 1026 East 21 $t South 487-082- 5 4444 South State 49 77,257 850,982,300 ... MUai First 3 CONVENIENT LOCATIONS IN SALT LAKE 902 So. Main, 262-246- 8 Alio 2666 Waihlnston Blvd., Ogd.tt, Its . NO INTEREST FREE INSTALLATION Bank Debits January FOR THE BEST UP TO SIX MONTHS TO PAY Wool Market bw con- per cent. in announcing the - - 400- 23 We take pleasure tors. LAKE NORTH SALT Wednesday j Livestock Merkel: auction, Producer lb butcher hooi Hoee 210; sows 100; food end choice slaughter Sheep Carlo building Evans, president, Equity Oil Co., and A. T. Jones. IPAA is the only national trade association representing some 6,000 independent oil ?nd gas producers, wtith membership in every petroleum producing area of the United Association Livestock lambs Residential tracts were down the 1968 Corp., as contracts valued at $2,289,000 were reported as compared with $259,000 a year ago. TULSA, OKLA. (Special) Two Salt Lake City oilmen have ben elected directors in assets during the past year bringing the total at Dec. 31, a $3,655,000 compared with $2,039,000 for the same month a year ago. The increase was due to where building 2 S.L. Oilmen For IPAA Post Credit Union Gains MIC Merger was November 399-117- 9 328-025- 8 |