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Show P.C. Brokerage Office Open Y"' r s x -"X f -si If V - - i i - - v I 1 V 1 I - I ft s-. , - "? ! - , 'f it: 3? y. f j r I " J ij, 1 H- - J ( . - r ? comodities while the market price is at a desirable level. It is essentially selling a product in advance and eliminates many risks involved with comodities subject to volitale price fluctuation. fluctua-tion. Mr. Lewis explains that the comodity future market is not reserved only for agricultural comodities and contracts are being written with increased popularity on lumber, minerals and even government securities. Contrats are written against government securities to reduce the risk of a rise in interest rates between the time a project is budgeted and when an actual loan application is made. These are of course for sophisticated investors and requires a significant capital investment. Dean Witter Reynolds was formed shortly after the first of the year with the merger of Dean Witter & Co. a West coast firm and Reynolds Inc. an East coast company. It was the largest merger in the history of investment invest-ment firms. Jim Lewis, Judy Kimball and George McKenney Despite the Market's rather sluggish performance during the first months of this year, Dean Witter Reynolds, the nation's second largest brokerage firm, has enough confidence in Wall Street and Park City to open an office here last week. The Park City office, located in the Silver King Bank Building, is the newest and probably the smallest of the firm's chain of 232 business locations. Park City resident Jim Lewis, who was Dean Witter Reynold's assistant manager in Salt Lake, heads the office here and was instrumental in convincing top management of the area's potential. poten-tial. "I believe Park City will be an area of dynamic growth for a long period of time" said Mr. Lewis, "And there are a lot of qualified investors here who use our services and would prefer to do so on a local basis." Lewis, a 35 year old product of the University of Utah's MBA program, is assisted by account executive George McKenney. Both men are confident about the Dow's eventual recovery and maintain that due to low prices there are currently some exceptional excep-tional values in stocks which would meet any investment objective. "The Market never does anything in moderation" says George McKenney, also a graduate of the U of U's Business School, "It'll come back and be overpriced again. All it takes to play the stock market is common sense." Stocks and bonds however only account for about fifty percent of Dean Witter Reynold's business and Jim Lewis speculates that at the Park City office transactions in those areas will be even less than that. "For the past five years most brokerage firms have been concentrating on providing clients complete financial planning," explains Mr. Lewis, "They're not just dealing in stocks but offering insurance, limited partnerships, tax shelters and high interest bearing securities." . Of special interest to both Mr. Lewis and Mr. McKenney are comodity futures. The comodity futures market is enjoying terrific growth especially in the inter-mountain inter-mountain area where there are a significant number of people involved in agriculture. Farmers and ranchers can hedge themselves against possible possi-ble decline in market price before their product is ready for sale by selling a futures contract on their |
