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Show fwrjw AV As anyone who has bought a new home knows, thats only the start of the expenses. And just as homebuyers overlook the impact on their as ' a Utahns pocketbooks, whole may be underestimatg ing the total impact of on the state, according to a recent study by a University of Utah professor. Homebuilding, says Dr. P. Matthews, professor In the College of Business, has a of far reaching impact more than $300 million a year In Utah. Only a portion of that represents the actual cost of the home. Variety Store Complex Seen As Top Stock n i - ic' r The stock of the week selected by the Electronic Stock Evaluator Corp. is McCrory Corp., operator of variety and department stores. McCRORY COPORATION (29) MS operates a complex of variety and department stores. Sales and earnings for fiscal year ending Jan. 31, 1969 are up. It is anticipated sales gains should continue with increased merchandis- uillllllllllU'llliiB If cost ing, higher prices, and more space. controls are maintained, earnings may gain Earnings for the 12 months ended January, 1969 were $2.32 per share compared with $2.27 per share for the previous 12 months. ESE estimates earnings of $2.50 per share for the next 12 months. An annual dividend of $1.20 per share is paid. FOUR STOCKS OF INTEREST FOR POTENTIAL CAFI-TA- home-buildin- Mil-to- hi I II. n X , ilvr r s '$0; - v- 1: - Xf.p&V . .. 'Myi& i y L i ings and Loan League. He goes into the multiplier that homebuilding effect brings about, adapting figures from a national study prepared by the U.S. Savings and Loan League to fit the state. As an example, he cites a which cost home typical $18,730 in Utah last year in direct construction expenses. That includes outlays tor manufacturing and distributing materials, for designing the home, for job organization and direction and for the actual constriction, GENERATES MORE other expenses However, will be generated by that home. They include: Site improvements and utilities. The average outlay for these purposes is $2,500. Other related construction. This includes commercial and religious building and auxiliary street and utility construction. This is conserva- Homebuilding's impact spreads itself throughout the economy, multiplying itself far beyond the original cost of the home. shrubbery and furniture and for carpets. Tie estimate of these costs in 1968 was $4,000. This rings the total related costs for that $18,750 home to To take these into account r for a period. Dr. Matthews says it is possible to use a multiplier effect of two. $30,450. That brings the total impact cf one home in one year in Utah to about $60,900. Even the impact then, . DOESNT STOP But the total impact doesnt stop there, says Dr. Matthews. The Income that is received by individuals as a result of such expenditures appears again and again in the economy in the form of income to others as each set of workers pays it out in consumption expenditures (living costs) or taxes. Moreover, he says, Income that is saved also reappears as capital investment ECTSyilMM f 1 t Assist Rural Areas? Newt Washington - Burtau areas the West by legislation of is the lack of employment op- portunities in rural areas. Our bill would offer genuine incentives to potential industries to locate their plants In rural areas and help check this the Utahn growing problem, the iiiiiti!!!it!iiti!mii!itim!l Finance Committee. Sen. Wallace F. Bennett, R. Utah, is one of several cosponsors of the measure. Our bill is designed to help stem the manpower flow from rural areas to our nation's cities, which are already overpopulated and overburdened. Sen. Bennett said. The major reason for this drain of manpower and capital away from the countryside persons. In return for these benefits, the business must show that its operation will create new jobs and hire a certain percentage of its work force from the locality and from categories, Sen. Bennett said. week by 7, Commerce Senate low-inco- e Marquardt Gains Contract OGDEN contract has A $21 been million awarded the Avco Corp. Corp. by of Tulsa, Okla. manufacturers of the new r jetliner. The contract calls for purchase of leading e'ge slats for air- the giant Lockheed Tri-Sta- will use bus. their plants at Ogden, Irving Tex., and Huntington Park, Calif., for manufacturing the slats, which control wing and surface for lift on the giant airliner. Full impact on the Utah plant is n:t yet known, said local officials. S.P. Record Earnings Record high earnings in the first quarter of 1969 were reported at the Southern Pacific annual meeting in Wilmington, Dela., Pres. Benjamin F. Biaggini reported a net income of $29,190,348 or $1.08 per share, up from $28,064,645 or $1.03 per share for the first quarter 1968. The shareholders voted to merge Southern Pacific Co. into a new corporation, Southern Pacific Transportation Co., which will take over all S.P. activities. All of the transportation company stock will be held by a new holding Declares Dividend A cash dividend of 60 cents a share was declared Friday by the directors of Kennecott It w'ill be Corp. Copper payable June 23. to stockholders of record at ihe close of business May 28. $300,612,429. Over a period of years, this can have a staggering impact in any one area of the state. For example, In the period 1960 to 1968, expenditures for home construction in Salt Lake County alone were $328,657,350. After the other costs were added in, this And reached $536,655,550. when the multiplier effect is added, the total reaches well ovet a billion dollars. Dr. Matthews pointed out that about 47.88 per cent of the construction last year was financed by savings and a gain of 14.7 per cent. The valuation of those penults was $16,410,500, a gain of 13.8 per cent. loans. Most savings in the orfind ganizations eventually their way into home investments in Utah, and in most cases the funds are channeled through local banks where they may return one or more times in the multiplier process, he said. REPORT GAINS The major from last year. Weber County was up 16.3 per cent; Utah County a whopping 75.6 per cent, and Salt Lake County was up 9.1 per cent South Davis County increased 19 per cent. Thus, if the trend continues, the total impact this year will be even greater than- it was A cheek with the University Utahs Bureau of Economic and Business Research . showed that homehuilding so far this year is well ahead of the pace set last year, which formed the basis for Dr. Matthews study. The total number of permits for new homes during the first quarter of this year was 1,284 By ARNOLD IRVINE Deseret News Business Writer company, temporarily named SP, Inc., which, upon consummation of the merger will assume the name, Southern Pacific Co. The answer: for the small business man, leasing a warning system is prohibitive. Furthermore, burglars have found ways to circumvent the conventional electric warning systems. As he thought about the problem, Garside developed an idea for an electronic detector system that not only would be within the reach of the small businessman but would give better protection than is now possible. MANY PATENTS He turned the idea over to Joel Driver, an electronics wizard with many patents to his credit, who engineered the equipment for the new system. Driver has set up Continental Manufacturing at 2310 S. West Temple to manufacture the equipment, and sales Garside will handle through Salt Lake Safe and Lock Co. which he recently acquired. The new system, christened Guard-Site- , was placed on the market this week and Garside - last year. reports that orders hav? been placed already by several local firms. The manufacturing organization has been in the process of training 30 employes in the intricacies of assembling electronic equipment and production will begin immediately. The system consists of a computer unit about the size hv UP&L Studied could be first to the police then to the oth- er company officers. The system also can be adapted to detection of fire and the notifying of the fire department or to the detection a refrigeration failure. It operates on small batteries so of ter pipeline Austria ' outside Project A large diamebe built in River is to by M. K. N.V., Maatschappij, Hague. Netherlands, a wholly-ownesubsidiary of Morrison-KnudseCo., Boise, Idaho. The d n David Garside, left, and Joel Driver examine nuw electric burglar alarm for businesses. COMMERCIAL SECURITY BANK f Ogden, In the State of Utah, at the close of business on April 30, T969. ASSETS Cash and due from banks (Including no unposted debits) I ll,193,827.fl U S. Treasury securities 13,933,612.4 Securities of other u.S. Government a9endes and corporations 2,45l43.50 24,X9, 982.06 Obligations of States and political subdivisions Federal funds sold and securities purchased under agree 1,400,000.00 merits to resell Other loans 53,236,165.66 Bank premises, furniture end fixtures, and other assets 2,231,058.15 bonk premises representing Real estate owned other then bank premises 503,432.11 Other assets $ 1,577,574 85 TOTAL ASSETS $110,844,090.98 LIABILITIES Demand deposits of Individuals, partnerships, and corporations $ 30,858,272.65 Time and savings deposits of Individuals, partnerships, ' and corporations 40,876.883.47 ... 369.OM.33 Dronsits of United States Government 17,886,705.38 Deposits of States end political subdivisions 5,492,524.33 Deposits of commercial banks Cernf ed und offers' checks, etc 1,846,261.72 . $97,379,727.18 TOTAL DEPOSITS .$42,120,125.2! (a) Total demand deposits .$55,207,602.67. (b) Total time and savings deposits redera' funds purchased and securities sold under aorea 750 000.00 ments to repurchase 747,366.62 Mortgage indebtedness $ 3,162,974.57 Other liabilities .... TOTAL LIABILITIES $101,990,069.1)7 " RESERVES ON LOANS AND SECURITIES bad debt losses on loans (set up pursuant to Revenue Service rulings) I TOTAL A find diitriHution hat mod Truit now bgn by Tho Continental Bank and Company, 200 South Main Street, Salt lake City, Utah 841 10, receiver of Inland Empire imurance Company and thi; receivership is now in the final closing stages. Tha receiver is holding a numeer of checks payable to certain claimants whose whereabouts are unknown. If you hove a claim in this receivership and have not received at least five dividend checks or payments totaling 22.44 of your ilaim, contact the Trvst Department immediately and give your name, present address, claim number and payments you have received. Medium sized manufacturing company is looking for an attorney with 2-- 3 years experience in a law firm or in a corporate legal deportment. Undergraduate work in Engineering or Business Administration preferred. Will perform general corporate legal work involving contracts, licenses and warranty problems associ- ated with domestic and international operations. Professional growth opportunities afforded by this position are virtually unlimited. For confidential consideration please send resume, of including salary requirements to: Box this paper. RESERVES ON LOANS CAPITAL ACCOUNTS Capital notes and debentures (One Issue, thru 1972) Equity capital, total Common stock-tot(No. share par value authorized 95I.542.SS t AND SECURITIES metvre 9SI.S42.SS 1969 297,913.00 7.597,546.36 S 2,625,000 S (No. shares outstanding 440,000) TOTAL 3,900,000 00 1,072.564.34 TOTAL CAPITAL ACCOUNTS LIABILITIES, - RESERVES, t AND CAPITAL 7,095479.36 10,144,090 91 I. Richard K. Hemingway, President, of the above-name- d bank, do solemnly (swrarafflrm) that this report of condition if true and correct to the best of my knowledge and belief. RICHARD K. HEMINGWAY Correct-Att- est: R. SCOTT DYE CLARENCE E WONNACOTT GRAHAM H. DOAfeY, Director Kate ot Uten, County of Salt Lake ss: Sworn to and subscrioed be'ora me this 12th day ot May, report OF CONDITION OP VALLEY BANK AND TRUST COMPANY state 1949. VIRGINIA P. COSTAN70 Notary Public. STATE OF UTAH Department of Financial Institutions do nereby I, W. S. Brimhalt, Commissioner ot Financial Institutions, certify that the foregoing is a true end correct copy ot the etatement of the above-namebark, fued In this office on May 13, 1949. W. 'it BBIMHALL ComnJ sioner ot Financial Institution. Utah, at toe close of business of on ASSET Cash and due from banks (Including 30,113.34 unposted debits) ( U.S. Treasury securities Securities of other U.S. Government agencies and corporations Obligations of States and political subdivisions Trading account securities Other loans .. Bank premises, lurnlture and fixtures, and othar assets representing bank premises Real estate owned othar than bank premises Investments In subsidiaries not consolidated Other assets TOTAL ASSETS 4,751,64.95 5,093 740.17 4,344.9 7,343,173.74 43.13 35.051,493.41 1430,413.05 36), 090. 5 77,449.1 513,367.44 5.763.933.94 S LIABILITIES of Individuals, partnerships, Demand deposits and corporations $ Time and sav'nqs deposits of Individuals, partnerships, and corporations Deposits of United States Government Deposits of States end political subdivisions banks . T Deposits of commercial Cetlifled end officers' checks, etc TOTAL DEPOSITS 46.349. 507.19 (a) Total demand deposits 90.353,793.59 (b) Total time and savings deposits 37,996,713 60 Federal funds purchased and securities sold under agreements to repurchase ... Other liabilities tor borrowed money Mortgage Indebtedness Other liabilities 16,607,563.75 36,173,713.60 354,633.64 1,951,619.61 67,719.00 1,195,047.57 300,000.00 170,296 0 905.630 50 1,383,016.42 ...... TOTAL LIABILITIES 51,006.452.21 RESERVES ON LOANS ANO SECURITIES Reserve for bed debt losses on loans (set up pursuant to Internal Revenue Service rulings) TOTAL RESERVES LOANS Eoulty capital, total Common stock-tota- l par value 5 00 (No. shares authorized 200,000) (No, TOTAL 94,240.f3 19,2.90 1,000,000.00 .. shares outstanding 200,000) Surplus Undivided 624,240.61 SFHiritieS AND CAPITAL ACCOUNTS ON 2,000,000.00 930,239.90 profits 00 420,000) Surplus Undivided profits ; Electric power costs more manager, planning depart-i-n ment-but Japan than it does in Utah, The four have been studying virtually every Japanese ..Utah Power and Light Co. home has electricity. generating, distributing and However, the use of power methods 6which markng in much heavier the U.S., is h to apply in their f.T IfidalTS f own expanding company. Shikoku Electric, Co., We have a u to 12 per who have been visiting in Salt ammal ra Lake City since Wednesday. business is said They are Noriaki Matsuda, doubling every seven years. assistant manager, planning Through better marketing department; Aldra Tamai, methods they said they hope of manager of sales;' Yoshinori to increase utilization Minato, system planning and power during the hours that development engineer, and are new extremely low in assistant er use. Itami, of Salt Lake City, In to April 30. lyov. REPORT OF CONDITION OF Internal VBTrc!M2Y , !asS Rnerv, lor NOTICE TO ALL CLAIMANTS OF INLAND EMPIRE INSURANCE COMPANY $ r The activated sensor can trigger a bell on the premises or notify the computer to make one or more programmed telephone calls. The M-- K EVANS PRODUCTS COMPANY (58) EVY is in the building materials wholesaling and retailing field. The increased demands for these products both for homes and mobile homes should continue their sales gains. By the elimination of loss areas and improved new facilities, eamings should continue to gain. Earnings for the 12 months ended March, 1969 were $3.19 per share compared with $2.96 per share for the previous 12 months. ESE estimates earnings of $3.40 per share for the next 12 months. An annual dividend of The Electronic Stock Evaluator Corporation at Rockvllla Contra, New York Ims selected (be five necuritiee listed above for outstanding fundamental a value and market Interest. ESE uses computers to perform tasks commonly don by Individual research analysts. However, the computer hat to advantage of speed, enabling ESE to analyze approximately 1500 securities each week. In forecast1 ,ig toe price action of e security ESE obtains estimates of tamings, dividends and sain from several different sources, and programs a consensus of toes estimates Into to computer. The computer then assigns g rating to to security which serves as a guide for the recommendations mad by ESE. Since the rating assigned to a security is largely dependent on to estimates obtained by ESE tha accuracy of a recommendation is dependent upon the accuracy of to estimates obtained. In toia respect, to individual research analyst and the computer are subject to the same limitation. General economic conditions, national crisis, or news events which are also may influence on to securities that ar unpredictable the of electronic output human body or by any movement within their electronic field, Garside explained. Sensitivity is purposely cut back to prevent the systems being actuated by mice. TRIGGERS BELL is Independent power sources. Garside figures the cost of the new system at about a third that of the existing alarm systems. He will sell the equipment outright or lease it. He estimates that less than five per cent of small businesses have alarm systems now and sees a large potential market for the new product. The possibility of expanding production into other electronic items also is being studied by Garside and Driver. . cents per share is paid. Your broker will be pleased to furnish you with additional information regarding the above securities. So sensitive are these units that they are activated by the of . 60 square feet owner of the business and oppe-tunit- i d of a candy box and one or more sensor units of similar size connected by wire to the computer. Each sensor surveys an area of 4,000 calls, for example, CORP. LEASCO DATA . PROCESSING EQUIPMENT LDP has expanded its base by acquiring positions in the insurance management, consulting, and container leasing fields. Full conversion of debentures and preferreds, and the exercise of warrants and options would triple the number of shares outstanding. The possibility of a secondary offering is likely to have an adverse effect on the short-terprice, y. providing a good buying Eamings for the six months ended March, 1SCD were $1.48 per share compared with $1.02 per share for the corresponding six months. ESE estimates earnings of $3 per share for the next 12 months. No dividend is paid. (38) of north Davis County, which had a drop of 35.8 per cent WELL AHEAD of populations areas of the state all reported increases, with the exception FOR SMALL BUSINESSMEN stall a burglar alarm s y added. The rural job development measure includes federal tax incentive including: special tax credits related to the cost of buildings and equipment; special accelerated depreciation schedules: and extra deductions for wages paid to ..a1'. Additional stopped. effects will be felt in later periods in amounts depending on the division cf income between consumption expenditures and savings at any particular time, he said. Dr. Matthews points out that in 1968, building permits for new dwelling units in Utah amounted to $72,494,100. After the multiplier effect and other costs had been taken Into As a locksmith, David Gar-sid- e has seen the havoc wreaked by burglars in many b u s i ..vss n t s. He once asked the victim of a break-in- , Why dont you in- Bill To Deseret hasnt Utahs Inexpensive Burglar Alarm 9T- - Saturday, May 17, 1969 New WASHINGTON Industries could be encouraged to set up shop in the under-- p o p . the total impact on economy last year from construction of new dwellings units amounted to account, 1 vv I I 18B one-yea- V 4 ''r; '"A 17 expend- itures. & Vs- -' TRANSMISSION CORPORATION TEXAS EASTERN TET is basically a natural gas pipeline operator in the Northeast. It also contains oil production, refining and refined oil products lines. It owns 97 per cent of Transwestern Pipeline which supplies gas to California, as well as a fully owned sublsdiary, Pyrofax Gas. It is expected that TET will continue its acquisition program which should broaden its earnings base. Earnings for the 12 months ended March, 1969 were $2.32 per share compared with $2.11 per share for the previous 12 months. ESE estimates earnings of $2.40 per share for the next 12 months. An annual divided of $L40 per share s paid. ' r ms? - L (28) closing costs which in 1908 averaged $1,500. Related retail sales. Buying a home usually brings on outlays for new kitchen and laundry appliances, for - ? . McDONNELL DOUGLAS CORP. (33) MD earnings expected to continue into 1969 due to increasing profit margins as production proceeds on the DC8 and DC 9. Despite strike costs and high proposal costs and a decreasing volume. ESE anticipates increase earnings. Earnings for the 12 months ended March, 1969 were $4.04 per share compared with 67 cents per share for the previous 12 months. ESE estimates eamings of $4.85 per share for the next 12 months. An annual dividend of 40 cents per share is paid. Related service expenditures. This includes sales and , -- , n GALNS: tively estimated at $3,700. SALES, CLOSING COSTS .' - Mr MIXTIPLIER EFFECT Dr. Matthews this week released a study of homebuild-ing'- s impact for the Utah Sav- ' J"ren9iewf-i- 1.. CAPITAL ACCOUNTS TOTAL LIABILITIES, ACCOUNTS RESERVES. .1 3,930,339.90 AND CAPITAL t 35,762,922.94 MEMORANDA Average of with call Average ot with call total deposits for the total loans for tie data 15 calendar 15 calendar de'e . I, Farrell D. Anderson, Asst. Vic do solemnly swear that this report to to dayt ending days ending 46, 603, 872.9 35,391,030.3 Pres., of the eb3venemed bank, of condition it true and correct, best ot my knowledge end belief FARRELL D. ANDERSON Correct-Att- esl: W. E. MYPICK STRINGHAM PEACCCK, Directors F. H. M. R. State ot Utah, Coumv of Salt Laka ss: Sworn to and subserved before me this 14th day of May, 1969. G. LEE PARKS Notary Republic STATE OF UTAH Department ot Financial Institutions I, Spencer C. Taylor, Chief Exumlner, Financial Institutions, do hereby certify that the foregoing Is e tru and correct copy of to statemeul ot to above named bank, tiled In th office r- May 14, 19(5. SENf ER Cj TAYLOR. ( Chief Exemirlr, Financial Institute f , |