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Show ty"iyl'im ir ly up H' y y irr"'jiBywiy -- y t" iiimi-ny- i y-yy- ly y iyjy'jyMyjayMILyfefM1fia:MlTrMyiyi.ii nigy muni X Fight bi Deiflotiora earns To Work' . recession Bv DON C. WOODWARD Deseret New s Business Editor The Nixon Administration's fight to control inflation is already beginning to work and technical .will result in a ! recession to be followed by a long range period of sustained go th This assessment was given Thursday hv K. A. Randall, chairman of the Federal Deposit Inrurance Corp., in a cindid talk to Utah financial executives at a seminar in the Alta Club. . ONE BIG STEP Randall, a former Utahn, said the one remaining factor in controlling inflation was . solving the psychological ; reaction that things will cost more in the future. He said the technical would be tant in curing that cal bent. But, he said, Were on the susfooting for a tained expansmn of our economy, beginning next year. long-rang- He told members of the Utah Bankers Association and the Utah Savings and Loan League that they would see a moderation in many of their money markets, and that a change in the nation's interest rate structure would soon take place. Rates will be coming down, he said. MONEY MART Randall said the administration was on a program to eliminate the long-ruceiling on interest rates In an effort to develop a free interest rate money market. He predicted n Closets for that needed EXTRA STORAGE SPACE Sturdy Construction SALE 24.95 4 16 JtinfiwiaMttitt FURNITURE ANNEX 4H la. 6th W A lift I. 333-46- lit Hard T Find . . lut Wat! Worth Itl ,v ' f, V.'4i?' ' 3 , K s & Vw , hv f vXtife&fe'.c J v ' m. (. ' that in perhaps six months the ceiling on large scale certificates of deposit, going for $500,000 or more, would be removed to allow commercial paper to move back to the banks. And he said this would probably be followed by an effort to "capture and tie down money in smallei denominations in all forms of financial intermediation with a consumer certificate. He thought this would be a certificate of from two to five years in the range of 6 to 6'i per cent, without redemption features. MAJOR CHANGE the future He predicted would see one type of finanwith some cial institution, in different specialization areas such as mortgage lending, wholesaling and must administration. He added that mergers within the industry would be an important new dimension of the future, and these would be across the traditional lines that have been common in the past. As a result, the 22,000 fiin the nancial institutions country would probably be reduced to some figure closer to 8,000 or at least cut in half, he predicted. Speaking of the technical he said this was recession, defined as any period w'hen rate did not the growth advance during two consecutive periods. One of todays problems in forecasting the impact of it is that no one now knows what the tax bill will be, he added. FIRST SURPLUS Also, he said, the country hasnt had any experience with a surplus budget condition. The current budget surplus of $3 billion will go to $6 billion by the end of the year, and thats the first real surplus this country has had in more than a hundred years. The seminar was sponsored by the University of Utah College of Business. impor- psychologi- Metal Wardrobe 'iWlrtfotr , r - 1$ ' ' Y k ; i v October Friday, 6B A h ' & f. WwwkW X) , . I S i v v. '""V Uji yI v. ? 'V V 1969 31, CORNER ON COMMERCE Cement Truck Gets An Okay Calvin L. Rampton gave his stamp of approval Thursday to a new concrete delivery Ready-mi- x Gov. Rite-Wa- y truck. Presenting the vehicle at the Capitol tor the was governor's inspection 25.000-poun- Donald of d H. Pickett, president International, Rite-Wa- y manuSalt Lake facturer of the trucks. Pickett explained that the front-endelivery design has several advantages over the City-base- d rear delivery conventional trucks. Weight is distributed over three or four axles; the driver controls the unloading from the cab; cave-idanger is reduced; loading and unloading is faster; larger loads can be hauled at less cost. He said the Salt Lke County factory can produce over 300 trucks a year and a subsidiary in Ft. Wayne, Ind., is able to build 115' trucks a n year. Rite-Wa- d 'Take The Money And Run' Suppose you were a bank robber who picked today to hit Walker Banks Murray office at 4920 S. State St. Well, you get up to the cashiers cage, raise wow! Linda Clary, left, and Charllot McDougall, your eyes, and then both tellers, have their own Trick or Treat waiting. The banks employes picked Halloween to dress up in costumes and turn the tables on their customers. ... UPGRADE SHOWS, FORD WARNS HOLLYWOOD (AP) - t of programs are of such dubious qua y that mature, more affluent viewers will not suffer through them, he told a Tuesday meeting of the Holly- Nielsens ratings tell us about audience size if the audience is composed in large part of people who arent prospective A Ford Motor Co. spokesman says poor quality and televi- defor automobiles, clared M. S. McLaughlin, a Ford vice president and geny eral manager o the Division. L e ts It, s o me buyers sion could dampen our enthusiasm for radio and television advertising in the future. wood Radio and Television Society. Ford spends an estimated $50 million annually on radio and television advertising. Lincoln-Mercur- face It doesnt matter what Mr. has orders now y for 77 trucks, Pickett said. Curtis To National Board - WASHINGTON Jesse R. Curtis of Curtis & Brandley Insurance, Salt Lake City, term on the has been elected to a three-yea- r board of directors of the National Association of Mutual Insurance Agents. Installation took place during XAMIAs 38th annual convention, held this week in the Washington Hilton Hotel. His first official duty as representative of the Independent Mutual Insurance Agents of the State of Utah was to attend the board meeting held during the convention in Washington and participate in the election of national officers for the coming year. V v, ji f New Woolworth Manager L. E. Anderson, native of Logan, returned to Salt Lake City this week as the newly appointed manager of downtown store. The cdvanccmcnt was announced by D. E. Chenault, Wool-wort- Pacific Regional vice presi- -' dent. Anderson served as ah assistant manager in down- town Sait Lake in 19G1. He formerly managed stores in Golden, Colorado; Rcy, Utah; and Riverside, California. New Sales Office Stockman's Life Inurance of America has Company opened a new sales and service office in Salt Lake City. Larry D. Gerratt has been appointed manager. He was formerly manager for the company in eastern Idaho. LOOK AT TH SAIT LAKE 1FMTMYIC VALU Stockman's Life Is a wholly' owned subsidiary of First Pacific Corporation, Portland,' Oregon. It has been licensed in Utah since 1967. The Com-- i panys new offices are located . at 431 South 3rd East, ' Metro-Building- STOCK EXCHANGE Friday's Quotations Check this DELUXE Sensational Value! ONLY TWO-DOO- R SIDE-BY-SI- DE Refrigerator Freezer Hugs Freezer Storag- eGiant capacity lets you take advantage of money-savin- g food sales! Glide-O- Look 5 most wanted FEATURES! GIANT CAPACITYI 0 Model 31" wide- - Meat Kaeperl Cantilevtr Shalvttl REFRIGERATOR SHELVES it NOW... Limited Quantities! MEAT KEEPER ONLY 28935 Keeps meats fresh and moist COMPARTMENTIZED everything! Saves time ST0RAGE- -A place . . . more convenient! DELUXE AUTOMATIC DOOR CIOSERS-Pre- vent door; from being accidentally ieft open to cause a loss of cold air1 OPTIONAL WHEEL KIT-- Adds new mobility NTH87 Admiral 12.1 Cu. Ft. for lb - 75; 25, No 2 3 00 M0 lb 22 00 boars 20 Cattle 3,500 Calves none. Slaughter steers uneven, high choice of prime; fairly active, steady lo 25 higher; average choice and b:low slow; steady to jfhk lower; slaughter heifers moderately active; high choice of prime; steady to 25 higher; other grades mostly steady; ccws Steady, bulls fuily 103 lower prime a 50; Ib slaughter steers 30 h qh Ib chnee and 25 lb 24 50, 25; 2 4 4 29 9 25; 27 Ib 00; choice ib m x' g'cd nd cnoce 27 25-- 8 00; qoM 7 low good standard and 50, Live- 26 (USDA) CHICAGO (UPI) ?5 r0 6 25, higi rhoice crime 9001,050 Ib stock: loads heifers 27 3 00; slaughter 50, cho.ce Hogs 3,500. Barrows and qiits mostly 25 1 COO r75 Ib 28 Ib 26 mixed good and choice lower; Instances 50 lower; moderately ac- 26 00 2 7 t ri :4 0; utility aid lb 26 75; 75 head commercial cows 17 tive; No 00; canners and 27 00, 26 75; 39 head No 13 cu ters 16 25; utility and commert'Al ' 25 6 75 lb 25.25-225; No 2 3 2 bulls 22 50 25 00 sows 25 to 50 lower, active, No Sheep 100 Not enough on hand for an 3 400 500 Ib adequate price test. lb 23 09, No 22 300; REFRIGERATOR M Full - 1,300, Cattle (APUSDA) slaughter steers and heifers rather slow, weak, instances 25 lower, cows strong, instances 25 higher; bulls steady; slaughter steers choice 975-- 1 200 lb 26 75;27S0; good and tow choice 6 24 75; 75; standard and aoed 23 lb 25.50-225, good heifers choice 23.00-2- 5 and standard low 50; choice tend good 22.00-2- 3 00. 6,500, borrows and gilts rather Hogs slew steady to 50 lower, most dcc'ne on weqhts cvrr 240 lb 13 190 240 lb OMAHA calves - Huga Frtazar Stoeagal Saoarsta Temparatura Controlsl CANTU EVER Move them up ind down to most any position! 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