Show Utah Economy Up in Quarter The economy of Utah expanded expand expand- ed considerably during the second SECond second sec sec- ond quarter of 1965 and the outlook out out- look for the next few months Is 19 I excellent This is the report of First Security Security Se Se- Banks Bank's News Letter being I distributed this week It was as announced announced an an- by Donna W W. Dearden I assistant manager mansier Park City branch The News L Letter lter which Is edIted edited ed ed- by First Security Corporation Corporation Corpora Corpora- I tion Vice President and Econom m mist st Dr ElRoy Nelson points lout out that since April increased demand for metal and certain other minerals and the processIng processIng process- process I ling Ing of these raw materials have given the economy a significant boost Retail sales have also in creased substantially Personal Income in the state h for tl Q first half of the year was I estimated at 1130 million some 60 million above that reported reported re reo ported for the same period I 1 n 1964 The News Letter foresees the third Qu quarter situation as eXcellent excellent ex ex- especially as related t to metal fand certain other mineral industries I According to the quarterly bank publication the value of minerals to be produced in Utah should equal previous records Steel production continues at capacity capacity ca ca- levels in U Utah Uta t a h County copper production is on a seven seven- day opera operating ling basis and lead and zinc production were running running run run- ning ahead of 1964 levels until M mid May y when a strike closed the states state's largest zinc lead mine at Lark and the custom mill at Midvale l Steel fabricators report some increase increase in orders although pric es availability and and availability after Se September Septem Septem- berl ber might pose some problems Price at 36 cents cento a pound for fol copper is apparently quite stable and there has been some acceleration acceleration acceleration In capital expenditures at to speed up output capacity 1 I Fertilizer output Including the phosphates potash and nitrogen is expected to establish new records records records rec- rec and coal output output in the state is continuing above 1964 levels says First Se Security Oil production tion is approximately 14 per cent below last y year ar and although new wells are being drilled and j others expanded production for this year will not equal that of peak years Despite a slight lag in retail trade in Utah mah behind a national upsurge for lor the the thel first quarter Increases Increases In In- creases since April have been I substantial Department s store store- tor e. e sales eales increased during the se second sec sea ond and ond quarter enough to boost the total for six months to five per percent percent percent cent above las last year New car sales sales are up 95 per cent and truck truck sales are up 31 per cent |