Iron County Record | 1964-04-09 | Page 14 | Personal Income in Utah Shows $20 Million Increase

Personal Income In - Utah Shows $20 Million Increase Personal Income In Utah during dur-ing 1964's first quarter totaled $T25 million, an increase of $20 million over 1963's figure, and further Increases are expected In the second quarter. This is the report of First Security Se-curity Bank's quarterly Newsletter Newslet-ter which will be distributed this week, it was announced Monday by Francis Beteiison, manager. First Security Bank, Cedar City. The Newsletter is edited by El Roy Nelson, First Security vice president and economist. With the decrease in the withholding with-holding tax, the increase in take-home take-home pay of Utahns is expected to be $1.4 million a month, First Security reports. "Anticipated cash receipts from farming in Utah In 19G4 may be somewhat lower than the total of $1616 million reported for 1963," the Newsletter says. "This results principally through lower prices for livestock in the first quarter of the year." First Security says thfu Utah farm plantings in 1964 should total to-tal 1.1 million acres, or approximately approxi-mately the same as in 1963. "Most of Utah's mineral industries indus-tries report some improvement resulting from increased regional and national demand," the Newsletter News-letter reports. Department store sales in Utah's major cities for 1964 s first two months were from 5 and 7 per cent above 1963 totals. Total To-tal nonagricultural employment In the state during mid-march was 289,400, up 1.8'r over the figure a year ago. Unemployment, Unemploy-ment, however, was somewhat higher than a year ago. Bank loans of reporting Federal Feder-al Reserve member banks totaled $C49 million at the end of February, Feb-ruary, an Increase of 10.8'4 above the figure a year earlier. Time and savings deposits, at $481 million, mil-lion, had increased 7.8rr over the total of a year earlier.