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Show w 't m ri p fr' f iy rrr 'Must Pot Brakes On GNP increase' of the world market, Randall must have We charged. world markets and must find some way of becoming again a competitor. Japan, Germany and Italy have achieved and fantastic productivity have surpassed the U.S. in the world market, he added. By ARNOLD IRVINE l)eseret News Business Writer increase in the A continued gross national product during the third quarter of this year will mean serious economic trouble for the country. K. A. Randall, chairman of the Federal Deposit Insurance Corp. and former Provo bank president, gave this warning Thursday to the Salt Lake .Kiwanis Club. He was the speaker at the clubs luncheon meeting at the Hotel Utah. He said that with the increase in the prime rate, the large borrowers have turned to the commercial paper market for money. If the commer- Randall told the group that despite the Nixon Administrations efforts to get immediate action on the surtax renewal, Chairman Russell B. Long of the Senate Finance Committee apparently is planning on Sitting on the surtax until fall. cial paper market interest rate increases and the borrowers go back to the banks, there will be a crisis. Already short of lending funds, the banks again will face the nethe cessity of increasing prime rate. The dollar is in trouble because we are not only losing out in the world market but we are still flooding the world with dollars through our tourism and the war in Vietnam, Randall said. Randall , , . warns of crisis te. A. The President is faced with the problem of going to the same well too often to get when he is forced to rely Demo on the crat coalition to carry out his programs, he said. U.S. labor has priced us out ac-ti- n t ' - 1 1 '' sf ':i r',"? , i 'J gm. l . ; ;" '' , " 4 ,4 t?9rF i Consumer . Friday, July 11, 1969 6D 'Go Public i-y.--i"' w, fys'rf ty," , "" f i ;Vff 1 1 ' '"?y '' jwr,r t& ," f,tfsAte6 '' " CORNER ON COMMERCE Inflation Blues For pWWSWjyRW ' ' NYSE To ANN AROBR, MICH. (AP) Consumers are pessimistic about the prospects of the rate of inflation being reduced in the next 12 months, the Investor Firm Gains, Observes 75th Year University of Michigan Survey Research Center reported today. The majority of people believe that interest rates will continue to go up during the next year, the center reported on the basis of a survey coveting a of more than 1,500 families in May and June. There has been a small increase in the proportion more unemployexpecting ment. With respect to Vietnam, people are still waiting to see what happens. The centers economists said the survey indicated that people dont believe that high interest rates will help curtail inflation. The extent of Investors Di funds accounts in the state numversified Services economic ae ber 4,443, with holdings valued tivity in Utah reaches well into at more than $27.7 million. Special accumulation plan accounts the millions, said Monte L. fund divisional sales manager, (where you buy shares in a as the firm noted its 75th year on an installment basis) amount to 636 and are valued at $3.4 of business. million. IDS is an investment manageInvestors Syndicate of Ameriment firm based in Minneapoca has 1,099 accounts with malis. The company is holding an value of certificates of open house this weekend to turity about $6.8 million and Investors mark its anniversary. Syndicate Life Insurance and Hunsaker said IDS Mortgage Annuity Co., another subsidiary, Corp. has some $41 million in has 467 contracts with a risk mortgage loans in Utah. Mutual value of $5.1 million. cross-sectio- Hun-sake- r, n Say Such a recommendation would require approval by the By DEAN C. MILLER UPI Business Editor - Securities & Exchange Commission and the NYSE membership. If it happens, said the head of a major Wall Street brokerage, were in a new n dollar ball game. No place for the weak or fqint of heart. A NEW YORK (UPI) New York Stock Exchange committee next Thursday will reluctantly and under pressure, a rule change which will rock the securities affect investors, industry big and small, UPI learned recommend, multi-billio- today. The Young Turk segment on the street applauded. They were eager to build more capital to meet block positioning needs, rising costs and expansion expenses brought on ,by market bigness and backshop backlogs. The old guard elements were shocked and After weeks of deliberation, the committee will recommend that members be permitted to go public, that is sell stock in their own firm. For decades, the exchange has forbidden members to do so, contending the regulation was necessary to control membership and to prevent power institutions such as mutual funds and insurance from extending companies their influence on the market and avoiding large commis- bitter. The head of one major Wall Street brokerage said, The public ownership boys may find they have less support outside New York than they figure. Could be a close vote. sion charges. Geologist Promoted ftnufiin of the geological, geophysical and land departments of Mountain Fuel. Lyle A. Hale, chief geologist for Mountain Fuel Supply Company, has been promoted to manager of A native of Afton, Wyoming, Hale holds B.S. and M.S. degrees in geology from Utah State University at, Logan and the University of Wyoming at Laramie. He joined Mountain Fuel on April 16, 1951, and worked out of district offices in Rock Spring, Vernal and Price, Utah until his transfer to Salt Lake City in 1960. His numerous publications and activities as a geologist have made him well known in the industry. the companys exploration division, according to J. T. Simon, senior vice president. Hale Mr. succeeds Hurry L. F o Isom, W. who is taking retireearly ment from the company. In his new position Hale will direct all activities ONLY A FEW DAYS LEFT Research Aide Named Yes, there ore only a few days left for you to take advantage of the greatest savings ever offered on all heme furnishings. Our new store at 3360 So. Redwood Road is almost completed. We have slashed prices to unbelievable figures. We don't want to move any of this $165,000.00 of merchandise now on display. So hurry! Don't be late, or sorry. Just a few of our tremendous offers. Deluxe Custom Built 22-cu.-- FREEZER REFRIGERATOR PLATFORM ROCKERS now Side by Side ft. COMB. 3995 originally 599.95 while stocks last NORGE WASHERS 129 at Vz least off REFRIGERATORFREEZER Spanish c. 2-P- originally 499.95 LIVING ROOM SETS now only originally 299.95 now 19995 39995 4-P- SECTIONAL 26995 3 colors 35995 now COUCH v only starting 100 originally 439.95 15-f- at t. Color Portable, 14", starting at 278.00. Color 23" Consoles starting at 399 Color Combinations, AMFM Stereo Radios from Nylon V yard Gold only at now We have over 200 other living room sets on display et similar savings. Over 100 Deluxe prices start at Wool Wiltons 19995 from 695 per yd. Twin or full six TRESS originally 10-Y- Hundreds of similar savings on all other refrigerator freezers. Over 70 Dinettes on display r. 49 Electric or Gas 95 rnly only 279 Complete from or Full Size HOLLYWOOD BED Complete $yQ95 M 5495 jw new merchandise carrying full guarantees & service. prices F.O.B. Store deliveries can be arranged. We ship also. Store Hours All i Sundays 11:00 to 6:00 Saturdays 10:00 to 7:00 Weekdays 9:00 to 9:00 149 Twin BUNK BEDS 95 Natural Gas In Cars To Cut Pollution tem of financial enterprises geared to the consumer market in the Western United States and in particular the State of Utah, the prospectus states. - X WASHINGTON (UPI) new firm said Thursday It plans to market an air pollution control system that will sociation which is being converted to a legal stock reserve life insurance company under the new name of Olympic Security Life Insurance Co. j permit car motors to use either gasoline or natural gas. Edward Falck, president of Natural Gas Vehicles Inc,: said the use of natural gas tremendous advantages' in reducing air pollution. Many farm tractors, which once burned gasoline, now operate on natural gas. Falck said the company will market an Inexpensive conversion kit which permits standard internal combustion rs -- . J to be switched from!? gasoline to natural gas, to gasoline. ! No engine modification .is.' ; required, he said. engines and-bac- 1 Livestock Deluxe Hardwood originally 399.95 while stocks last originally 49.95 while they last r KING SIZE under Johnson, Gary Bliss, Howard, L. Eckersley, Verl R. OBrien and Franklin W. GunnelL The firm was organized a year ago in Utah to engage in the sale, promotion and development of life insurance companies, together with the building of other financial Institutions in general, and specifically, to develop a sys- Officers of the company are Robert H. Wilstead, board chairman; William P. Hansen, president; John Packard, executive vice president; Thomas Huntsman, vice pres- - originally 299.95 TAPPAN RANGES DELUXE CRIBS & MATTRESS 'sa & s, been announced by Olympic Holding Corp. of America. tions and for developing 2,000 acres of land in and around Beaver. The land is to be divided into half acre lots which will be sold for $1,500 each, according to the prospectus. Guarantee last Deluxe over ident; Owen Bronson, vice president; Lowell V. Summer-haytreasurer. secretary Other directors are Frank a share has Guarantee 99 r. $10 The proceeds from the stock sale will be used for further acquisitions, company opera- . 10-Y- at 39,s while they Wolnut, White or Maple All BOX SPRING & MAT- QUEEN SIZE 199.95 while present stocks originally of stock The Salt Lake firm has acquired Guardian Benefit As- 70.00. now Wo carry the complete line of & Gibson. Amana-Norg- e 95 149 BEDDING RECLINERS in stock COMBINATION Many others at 4.95 originally 249.95 several colors 699 RadioStereo starting at UPRIGHT FREEZER 6995 23" Color TV Record Player CARPET starting Holding Firm An offering of 20,000 shares & COMB. originally 399.95 while stock lasts eniy 14995 Side by Side By 1995 Sectionals c. Springs. He holds both master of science and bachelor of science degrees in chemical engineering from University of Colorado at Boulder. Prior to that he graduated from Trinidad State Junior College at Trinidad, Colorado. Stock Is Offered Prices on portable TVs starting at 89.95. BlackWhite 23" Consoles at pc. - REFRIGERATORFREEZER Spanish c. - 3 colors 1 2-P- Over 200 bedrooms in stock prices starting on sets at 89.95. Many ethers at 109.95 119.95 & 99.95 up. 5-- COMB. Rowland M. Cannon, presi- tions marked way down. . colors ..v 149 Side by Side o dent of the sugar company, said Mr. Norman will supervise chemical and operating research projects, including pilot plant studies. He will be headquartered at Moses Lake, Washington, where a new All Stereos, TVs & Combina- GAS DRYER ROCKERS & CHAIRS 1 12 Off. Matching ELECTRIC DRYER 45995 Only table lamps, chain lamps, pole lamps at least Vz off. All occasion tables at least Vs off. Many odd chairs at least All b. 179 originally 59.95 Bell Deluxe operating research laboratory for U and I has been opened during the past year. Norman previously was general chemist and director of research for Holly Sugar at Colorado Corporation Sugar Company today announced appointment of Lloyd W. Norman, Colorado Springs, Colorado, as operating research manager for the firm. Utah-Idah- J i OMAHA C a 1 1,200; calves 25; slaughter steers and heifers steady; cows strong to 25 higher; bulis steady; steers choice slaughter lb ,10001225 good and choice lb 31.00-350; sla u 0 h t e r steers choice 675 lb 30 cows utility and commercial canner and cutter cows 19.0021.00; bulls utility, commercial . and good 350; slauahter lambs strong to Sheep 25 mostly higher, slaughter ewes steady; spring slaughter lambs choice and prime 64 102 lb shorn slaughter ewes cull to good 6,500; barrows and gilts steady Hogs to stronq, instances 25 higher, lb jib !sows 13 lb fully steady . 22.5023.25 lb 23 1 1 - CHICAGO Hogs receipts Thursday were 3,500; barrows and gilts were strong to 25 higher; fairly active; sows steady to 25 higher; instances 50 up on 400 lb weights around active top prices 27.50 for 60 head; lb 0 sorted lb lb j?6.25 26.75; lb 2 290320 ,13 lb 13 22.75-2- lb 23. 25; lb sows ib ftW cows commercial utilities 23.0023.25; cahnef high dressing ; Comand cutters and utility ' V. mercial bulls 200; spring slaughter Iambi Sheep and shorn slaughter ewes steady; couple, lots choice and prime 95100 lb; spring slaughter lambs 31.50 cull to good shorn, . . slaughter ewes and LOS ANGELES Livestock market Artesia July 9: Cattle 300; slaughter 600; calves cows and bulls strong other classes steady trade active, demand good; slaughter ; lb good cows and good 28.5030.40; standard cutter Holstems 21.2022.50; utility 19.5021.25; utility beef breeds mostly cutter 19.5021.25; utility bee ; mostly IP. 4020.50; bulls hiqh quality and conv 0 lb mercial other , 1, '50-1725 lb beef breeds and HoistetnS few cutter 21.6022.70; feeder lb classes steers mostly good, 2. 1030. 25; good and choice 800850 Hb choice heifers and good ib 25.50-200; lots 525 lb 30 00; lb steer calves lew head choice ; Ib good and choice steers cutter breeds 310380 ; Ib 33 460490 numerous lots standard and 05.0038.75; MW lb 18, Ib' 38 ,19.5020.50; boar200-- " 400700 lbs 17.7518.50, Ib heifer calves Cattle Ib 29.2530.00; 200; supplies mostly slaughter good and choice cows, strong; few bulls steady; utilities mostly good Ib 31.0032.75. 122 lb lb 21.50 22.25 Ib lb good good 150200 Ib, Holstein standard |