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Show mr .y iV mu ,j. r. ymj g,, v eueese WASHINGTON (UPI) Hie FHA home loan program ' js caught in the tightest in almost money squeeze three years with only 62 per f cent of its offices reporting an adequate supply of funds, according to a government survey. The Department of Housing and Urban Development , (HUD) also reported continu ing increases in the cost of home mortgage money throughout the nation. ! HUD said the number of , Wednesday, July 16, 1969 2B Housing Administrat- ion (FHA) regional offices low cott Trip Insurance can caver your personal affects and assure needed medical attention for vacation injuries. Avoid serious financial drain. It's worth a call to your Independent Insurance Agent. SEE A PRO reporting sufficient funds tc fill qualified loan applications was 80 per cent June 1. The 62 per cent figure on July 1 was the lowest since A per cent in January, 1967, when the 1966 credit crunch was coming to a close. HUD said the nationwide average interest rate on conventional first mortgage home loans increased from 7.75 per cent in June to 8 per cent this month on new homes and from 7.30 to S.05 per cent on used homes. The survey also showed that secondary sales of 7 per cent FHA mortgages averaged 893.30 doesn t work in BUSINESS INSURANCE & Company INSURANCE for Every Need Ph. u20 .So. 359-37- Main Either ytMty C. Josephson or . Ronald L Shsphtid of tho 78 DALE JOSEPHSON CO. 6061 Highland Dr. Phene 407-363- 1 ZIONS V ramtimma INSURANCE AGENCY Cmphtt loavrwKO Service PERSONAL BUSINESS PROFESSIONAL Lincoln J. Salltbury Cloren L Welto 487-754-4 2037 So. MAIN AMERICAN INSURANCE & INVESTMENT CORP.' ar(?? vTrJiJ- I- fine AUTO BONDS CALI FOR COMPLETE INSURANCE SERVICE Den Bradihaw Paul Caitlaton Pb. 322-343- 4 Bill C Young R. (Bud) Bannion 65 S. Main' 8100 face value month June W3S 8.06 ier cent on similar sales. The shortage of FHA money results from high interest rates in other sectors of the economy that have drained funds away from the mortgage market. The FHA interest rate is fixed by regulation at 7 per cent a full percentage point below the prime bank interest rate of 8 per cent. Banks extend the prime rate only to their biggest and best customers with the rates on other loans scaled upward. Lenders tend to make up for the difference between the FHA rate and the market rate a fee by charging points equal to 1 per cent of the loan for each point collected at the time the loan is closed. FHA officials said, however, that even with several points added higher yields are available from other Investments. The report showed the increase in new June-to-Jul- i i v j t hhtwm .jwrmn i 'gnirw-ji- t i "" home conventional loans by region was Northeast, 7.60 to 7.65; Southeast, 7.6s to 7.85; Northcentral, 7.40 to 7.55; Southwest, 7.85 to 8.30; and West, 8.25 to 8.60. The Middle Atlantic region was unchanged at 7.55 WASHINGTON (UPI) -The House Ways and Means Committee tentatively agreed Tuesday to impose major re- at half of regu- lar income tax rates up to a maximum rate of. 25 per cent. In its tentative decision the panel decided to drop the 25 per cent maximum. y- No Dividend By Airline - to directors strictions In the preferential tax treatment of capital gains profits from sales of stock, homes, cars or other propert- The taxwriters agreed to lessen the preferred tax treatment, and place the rules high in its package of tax reform the panel Is rushing toward tiie House for passage by early August. Capital gains long has been a target of advocates of tax reform. In its tentative deliberations on capital gains, the taxwriters would require that stock, or other property, be held for at least one year before the profit would be considered a capital gain, and subject to a lower tax rate. Profits from sales of stock held less than a year would be subject to taxation at regular income rates. Now, income from capital gains Is taxed LOS ANGELES Western Air Lines voted omit the third quarter dividend on the companys common stock, company officials have announced. The dividend was omitted because of recent operating losses and the need to conserve company funds for use In the expansion of service on anticipated routes to Hawaii, according to Terrell C. Drink--v ater, president. The company reported a net loss of 85,089,000 for the five months ending May 31. HIP iwjft1 MV Earnings Up 12 Pet. (AP) - , NEW YORK United Air Lines Tuesday said Its second - quarter earnings lllllllllllillllllllillllllllllli Corner On were up 12 Per c V '' f. r ' ' ' i 1 f over the same period Commerce VeT e!X rrv. ings for the three months ended June 30 were 817,730,000 or 96 cents a lill!l!lill!lllillillllll!lllli. share coir. pared with or 85 cents a share a year earlier. Operating revenues totaled 8374,064,000, up 18 per cent over a year ago. 815.886.000 For the six months, Newest Dee's Dees earn- ings were 816,491,000 or 88 cents a share, up from 816.368.000 or 87 cents a share a year earlier. Revenues were y Capital Gains Tax Gets House Study Seet Dal per for an effective interest yield to the secondary purchaser of 8.35 per cent. The effective yield in this MerJ. Grant -- n "pT-BI1111'- United's ; Federal I1 rr w ir11'-- 8695.318.000 for the 1969 New n one-un- it operation in South Anderson said. of space. six To di- celebrate the opening, Africa, bank- ing experience in the Salt Lake area. ill The new assistant vice president attended the University of Utah and the American Institute of Banking. He has been active in the Junior Chamber of Commerce, local civic and political affairs, and has received several honors for his work in the Order of DeMolay. -C(AP) hief Justice Warren E, Burger declined Tuesday to delay the Supreme Court order that El Paso Natural Gas Co. completely divest itself of the Pacific Northwest Pipeline Co. Turning down a plea from Interstate Gas Corp., the chief justice refused to disturb the courts 2 decision June 16 that nullified a plan to allow El Paso to sell the pipeline properties to CIG. Colorado Interstate had said The recent appointment of Duane Robison as director of the Colorado recreational divivehicle sion has been announced by Vista International Corp. He previously 4-- for manager Freeway Campers, Inc., a . manu-- , entit- yThe recreational vehicle division includes Vista Liner, Inc., Freeway Campers Inc., and the Folding Camp Trailer Division. of gas The ECCT the Justice Department, El Paso, Southern California sas interests, and state agencies of California, Nevada, Washington, Oregon, Idaho and Arizona. the courts directive that there be a strictly cash sale of the Northwest Pipeline System and that El Pasos gas could reserves be have disastrous results. A cash sale will deprive any customer of the advantages of a sound financial structure, the CIG corporation said. The companys petition said about 85 million a year in interest costs will have to be borne by gas consumers. was sales facturing ' twin-engin- Brittain-Norma- n Islander, is designed to carry nine passengers, plus baggage and air freight. The airplane is equipped with seating, reading lights and ' separate compartment for baggage. Key Airlines, established in travels daily between 1964, Salt Lake City and Ogden, Provo, Brigham City and Logan. There are six daily round trip flights between Salt Lake City and Ogden, four round-tri- p flights daily between Logan, Brigham City and Salt Lake City, and thre daily flights between Salt Lake City and Provo. Rates vary from 84.76 to Ogden, to 813.33 from Salt Lake City to Provo and Loga: Brig I: n one City flights cost way. The airline also has special rates for children. Passengers under 12 ride for half fare. Students receive a reduced fare at selected times during the school year. excurKey has a one-dasion package for the commuter who wishes to stay over in a city. The passenger can fly round-trifor the regular one way price, if he returns the same day. two-aero- one-wa- y clude the court from reconsidering the June decision next term. But Burgers ruling and a similar one last Friday by Justice Hugo L. Black narrow the possibility of reconsideration. Colorado Interstate is one of 19 participants in the antitrust case to petition the court to reconsider. The others include WASHINGTON Sales Director for divestiture Plea denied Mr. Twelves Key Airlines has added a new aircraft to its commutex to Bob service, according Soltys, sales director. e The new craft, a . area and the latest innovations in fast food service, Anderson said. It is designed to handle more than 2,000 customers a day with a parking area for over 50 cars. The building has 27,000 square feet officer Vista New Plane will feaall Dees Drive-In- s ture hamburgers and Deeburger clowns will entertain the youngsters. At the new drive-in- , prizes and rides will be featured. The new unit will bring the tots! Dees locations in Utah to 13 and will further augment our payroll of over 81 million a year. Two new units will open in Las Vegas next month and we have plans for expansion of our present Dees will open Saturday at 1122 S. State, Dees President Dee F. Anderson announced today. The jiew facility has a customer serving glassed-i- John W. Twelves has been named assistant vice president and manager of the Bank of Salt Lake pr;:: credit department. Twelves recently joined the bank as a commercial sales Adds Drive-I- n A 8270,000 new style Bank Officer versified Key Airlines To Open Drive-I- n following years of being readied for Saturday opening. th period. loan is drive-i- n Thr is value In your rt Cull ut building bo-fo- tho wrtektrs 277-26- 43 812-8- y p Livestock 06DEN s Hoot 140; and gilts fully 50 cents Metier; 13 lb couple lots mostly 3 lb 25.60-90- ; 210220 lb 26.50; sows scarce. lb few lambs 700; Sheep slaughter steady to 25 cents lower; feeders mostly steady; ewes strong; slaughter spring lambs, choice tb 28.10-220; deck and few prime 93 tb 29.10; few lots mostly choice ewes utility and 27 slaughter feeder lambs, choice and good lb 27.1029 50; few choice few fancy ewe lamba for replacement purposes re- 28.10-6Utth-ldaheastern Nevada No weekend tange sales firmed on slaughter cattle; pears at standstill, with both serves, the CIG also said, will drive up the price of natural gas and may make it impossible for the eventual purchaser of the pipeline system to compete effectively in California. The ertion does not pre SALVAGE one-wa- y feed let and sales con- market ap- lb string choice and few prime fleshy mixed calves, steers 35.00; heifers 32 00, October delivery; choice, few prime 0 lb steers 28 50 August September delivery; ell feeders fob weighing point, equivalent 4 percent shrink. OMAHA 5,000; calves Cattie none, slaughter steers steady to 25 lower; heifers fully rready; cows slow, weak to 25 lower; bulls, feeders steady; slaughter steers choice with moderate end prime heifers high 1,125 lb 32.50; slaughter choice and prime 950 lb 32.25; cows tmli-t- y 75. and commercial 20 5,000; barrows and gilts steady Hoqs 0 to 25 higher; lb 0 sows ib higher, 22 lb 22 400; steady; spring slaughter Sheep lambs choice, including a few prime ewes nruTn shorn slaughter buyers and taking wait and see attitude recent sharp declines in both live and dressed markets. Movement confined cuii ta'aMi'T to receiving Few ' previous purchases. CHICAGO (UPI) (USDA) feeder cattle sales appeal lower but marLivestock: ket not sufficiently tested. Movement of Hogs 3.000. Barrows and slits steady to range lambs in Idaho under way, but all strong moderately active; No 2 and 3 on previous contracts. Feeder cattle 675; around 400 head 3 . 5 Ib 27.5 5; No. Ib Ib No 4 sellers No No ly steady; 23 REPORT ZIONS FIRST NATIONAL BANK of business on .'unt of Salt Lake City In the state of Utah, at the close 1969 Published In response to call made by Comptroller of me Statutes. Currency, under Section 5211. US. Revised 30 ASSETS Cosh end due from banks (Including $155,073 12 unposted S S Treasury securities Securities of other U. S. Government agencies end cAreArAtlem Ob'igatlons of States and political subdivisions Other securities (Including $4.00 corporate stock) Federal funds sold and securities purchased under agreements to resell Loans Ban. premises, furniture end fixtures, and other assets representing bank premises Real estate owned other than bank premises other assets (Including $885,295.29 direct lease financing) TOTAL ASSETS ..... 2S.29SA31.50 ........... 4, 80, WO - OO 1, 6M.IOO 83 - ii your wagon is coming io the end of the trail . . . 0 140,743,827.82 f,7 - 40 1,318,979 a 01 444 2,810 245,520,974.92 .. 24TH OF JULY CAR BUY! and Demand deposits el Individuals, partnerships, corporations Time end savings deposits of individuals, partnerships, and corporations Depo-it- s of United State Government Deposits of States and political subdivisions Deposits of commercial bank Certitied end officers' cnecks, etc $I99,1!4,4T5 91 DEPOSITS TOTAL 5 74,177,821 20 tat Total demand deposits 7t . $124,938,584 Total and (PI timt savings deposits Federal funds purchased and securities sod under egreemints to repurchase Liabilities for borrowed money Indebtedness Mortgage .... Other 'liabilities keep you rolling in the Classified Section of this newspaper. Enjoy the pioneer spirit of the 24th all summer . . . explore the frontiers of the West with your 24th of July Car Buy! Check Section 90 "AUTOS FOR SALE" and Section SEE TODAY'S 91 u "SPORTS & FOREIGN CARS CLASSIFIED ADS IN THIS NEWSPAPER 43,480,331 87 112.392.294 07 742 815 87 17.108,873 12 4,138,245.88 1,075,845 10 9.179,197 92 11,000,000 279,988 88 5,964,762 54 225,538,35325 ... .......... total liabilities Regardless of your taste in transportation, you'll find a sporty "wagon" that'll RESERVES ON LOANS AND SECURITIES Reserve for bad debt losses on loans (set up pursuant to IRS rulings) RESERVES ON LOANS AND SECURITIES 1.960 73) 51 1,980,73151 TOTAL CAPITAL ACCOUNTS Equity Common capital-tota- ... l par vatu 1,357,722 No, shares authorized 1,357,722 No. shares outstanding Surplus Undivided profits Reserve tor contingencies end other capital reserves TOTAL CAPITAL ACCOUNTS TOTAL LIABILITIES, RESERVES, AND CAPITAL ACCOUNTS Stock-tota- l . - .. 19,021,890 16 2,715,444 00 12.337,800 00 3,968,648.14 NONE 19,021,890 14 248,520,974 92 MEMORANDA Average of total deposits for the 15 calender days ending 202.824,698 73 With call date Average of total loans for the 15 calendar days ending 143,339,381.53 with call date . Interest collected not earned on loene Included 7,539.077 23 . . accounts . total in capital bank do hereby I, Roy W. Simmons, President, of the declare that this report of condition Is true end correct to Ing best of my krowleage end belief. attest the correctness ol this report of We, the undersigned directors condition and declare that It has been examined by us end to the best of our knowledge and belief Is true and corrtct, Delbert L, Siapley F. A. Madsen Erlt C. Aaberg 26 Ib 0 on slaughter steers and heifers rather slow; 50 to 1.00 lower; best action on steers under 1,500 lb; cows and bulls steady; steers No Ib slaughter prime 4 32 00; including one toed at tat- - . ter and prime . high choice price; 0 Ib 31 tow 1,500 Ib 31 50; No Ib choice mainly 30 5041.50; mixed good 50; and choice 29 good 28 standard and low good hah Ib slaughter choice end prime J heifers No 4 choice Ib No 29 mixed good end choice 28 utility good 26 few and commercial cows cenner hiqh dressina utilities 23 end cutter 19.03-200; utility and commercial bulls 25 lambs Sheep too. Spring slaughter steady; couple lots choice and prime Ib mixed good and 00. choica 28.00-3- Over The Counter LIABILITIES IT'S TIME FOR A Ib 0 Ib No 14 22 Ib 75; No No Ib 20.00-2- 1 00; No 3 Ib 19.50-2Ib 00; boars Cattle 7,500. Calvea none. Trading OP CONDITION OF THE U 4 Ib sows unevenIb 0 fairly active; No package 3s0 Ib 24.35; No Wednesday's RuofaHens Quotations from the NASO art reprer sentative price as of approxlntr-oaie- r markets imately I pm chenpe throughout the day Prices do not include retell merkupa markdown er com mission. SECURITIES |