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Show Progress Report Released By First Security Officials Deposits in Federal Reeerve reporting member banks in both Utah and Idaho are up 8 per cent from one year ago. Total construction in Idaho for the first six months of 1958 was 24 per cent ahead of last year. In Utah construction was up 36 per cent. Department store sales in the intermountain region are approximately the same as during the first half of 1957. Those are some of the interesting inter-esting facts contained in the First Security News Letter which will be distributed this week, according to C. G. White and B, W. Vincent, assistant vice presidents. First Security Bank of Utah, N.A., in charge of the office at Sugar House. EIRoy Nelson, First Security Bank system vice prseident and economist, edits the News Letter, assisted by Harvey Frazier. "Bank loans are up $18 million in Utah; $7 million in Idaho, over 1957's, at Federal Reserve reporting member banks," the report says. "Real estate loans "in the Salt Lake area are $8 million above a year ago. Commercial and industrial in-dustrial loans are approximately approxima-tely the same. Installment loans are lower, with repayments exceeding commitments." The News Letter reports! that bank debits, indicating the money in use, are up 11 per cent in Boise; 4 per cent in Ogden; and down 3 per cent in Salt Lake City. Unemployment ratios in late June at 2.7 per cent in Idaho and 3.1 per cent in Utah are approximately double last year's but are well below the national average of 6.4 per cent. Food processing and steel fabrication in the area are about the same as in 1957. First Security reports that prices received by farmers in Utah and Idaho from the sale of cattle are approximately 30 per cent higher than a year ago. Lamb prices are up 5 per cent, and chicken and eggs are about the same. "Total cash farm income for 1958 should be some 6-7 per cent higher than the $361 million in Idaho, or the $151 million in Utah in 1957." "Sugar beet production is expected to be slightly higher than last year although the hot weather has affected this crop," First Security reports. "Potato production should be above that of a year ago in bcth states. Prices should be approximately the same or slightly higher than those prevailing last fall." |