Fairbanks Daily News-Miner from Fairbanks, Alaska on July 7, 1973 · Page 5
Get access to this page with a Free Trial

Fairbanks Daily News-Miner from Fairbanks, Alaska · Page 5

Fairbanks, Alaska
Issue Date:
Saturday, July 7, 1973
Page 5
Start Free Trial

Fairbanks Daily News-Miner, Fairbanks, Alaska. Saturday, July 7, 1973-5 Big Boy hamburgers slated to come to Fairbanks Big Boy Hamburgers due in Alaska Big Boy Restaurants has announced that it is coming to Alaska and will be building three restaurants in the Anchorage and Fairbanks areas during the next three to five years. Construction is scheduled to begin immediately on the first unit at the corner of Northern Lights a n d C S t r e e t i n Anchorage. Completion rs due in November of this year. Big Boy Restaurants is one of the nation's largest restaurant franchises with over 700 Big Boy family restaurants open and operating throughout 41 states and Canada. The new Anchorage restaurant will have aseatingcapacity of 140 and will feature a complete rminu offering breakfast, l u n c h , dinner and snacks; in addition Big Boy will offer a full take out service. The project is being built by Preferred Contractors, Inc. and the architect is Pacific Architect and Engineers. The property transaction was negotiated by C. Metcalf Co. Realtors and the financing is being provided by Alaska State bank. Big Boy Restaurants, whose general offices are located in Los Angeles, Calif., are the originators of the double deck hamburger famous throughout the nation as the "Big Boy." With the addition of the Alaska franchise. Big Boy now spans the nation from New- York to California and from Texasto Alaska. How the commodity market is operated Sl'F\KI\C, of DOLLARS hy K o b e r l S . Kosi-fskv By J O A N L. RE1TER For the News-Miner A detailed description of the ball park is not too important, as long as we have a large one for this commodity game. The Chicago Board has a five story high arena, the si?.e of a rugby field, with pits and rings in various sizes f o r t l i c b u l l s and the bears trading ground. The communication facilities are highly sophisticated. Prices are relayed to computers which, in turn, activate instantaneous price changes on Ihe trading board. Ticker tape feeds receiving machines in brokerage offices and other exchanges and receiving points, in Canada and Europe. Broad tape is a reporting system that is used which automatically prints weather news, market reports from other exchanges, and pertinent world events that c o n t r i b u t e s i g n i f i c a n t l y t o commodity market changes. The i n f o r m a t i o n is tarnished by i n d e p e n d e n t and government services. U n d e r s t a n d i n g the salient f e a t u r e s of the commodity m a r k e t i s o f t h e utmost importance for the trader. For the most effective use of any m a r k e t , examination of the principal kinds of trades isa must before ever becoming active in the market. The two markets, caali and f u t u r e s , are s e p a r a t e b u t interdependent. The following will outline how these markets function. Cash Trading (IndividualSales) (1) Grain on consignment: Grain that has been shipped to Chicago for sale and delivery arrangements, on the board floor. (2) Grain to arrive: Grain at outside points arriving on a known date for shipping. ( 3 ) T r a d e Country Station: Commodity loaded in a rail car and ready for shipment from an interior location. FuturcsTrading (Regulated, and in public auction.) A futures contract is not an option. Once bought or sold it must be satisfied through: (1) Delivery of the specified c o m m o d i t y in the specified month; or, (2) "Offset" by an equal and opposite transaction. When we observe the market mechanics, one might gather that traders are, "a bunch of clowns trading in hot air," as we find; they trade in commodities that have not even been produced; that are not i n h a n d ; o f t e n , sellers are not producers, nor buyers consumers. Futures market, establishes the f u t u r e p r i c e a n d equalizes possible disparities in supply and demand. Wo note that futures price at times influences the case price and the cash price can react to futures price. They usually stay in close relationship to each other, (let's not example this s p r i n g - s u m m e r market price range and change as the market has been cliaotic). However, it is usual for the present price to be quoted in terms of the price of tlie commodity in the future. These prices are real and not a number drawn from the barker's hat as some suppose. No futures p r i c e exists u n t i l a futures contract is bought or sold by somebody, then an established price hasbeen set. Many transaclions will cause a price decline or an upward trend. Each t r a n s a c t i o n is legally b i n d i n g on the participants and these contract purchases arc made for profit, or minimizing loss as a r e s u l t of price fluctuations. The Wall Street Journal has daily f u t u r e s price listings. Not only the open, high, low, close a n d c h a n g e of t h e many commodities, but the volume and open interest which can be important information for the trader. Some traders chart not only the daily price range and the close but also, both the volume and open interest for reference. Open interest refers to UIP number of outstanding contracts there are ineach commodity. The volume is fhe amount of trading t a k i n g p I ace daily in each commodity. To trade in the commodity market you must have an account with a brokerage firm which has representation on the Board of Trade. Opening an account is an easy affair, if you don't mind g i v i n g y o u r Social Security number a way as requested, (along with the bank, driver's license bureau, voting registration, etc.). Frankly, I strongly object to exposing tny "badge number" to anyone, any firm or agency (there is no law saying that one must). The brokerage firm, like the bank, reports your loss or gain to t h e I n t e r n a l R e v e n u e , presumably you are too dishonest or inept to do this without supervision by "big brother." $100,815 contract set J U N K A U T h e s t a t e h a s awarded a $100,815 contract for slope improvement work to improve vehicle safety on about eight miles of the Richardson H i g h w a y n e a r F a i r b a n k s , fiov. William A. Egan said today, today. The contract, let to Earth Movers of Fairbanks, calls for completion of the project in 40 days. The work is being done on a 4-lane section of the highway southeast from Fairbanks to about I 1 /? miles past the north leg of Badger Road. Ciina, a neighbor in my office building, just came to me with a simple yet very vexing problem. If I had a dime for even 7 time this kind of problem occurs to people, I'd be on next flight to Tahi li. She had gone to the drive-up window of her bank to cash a c h e c k , w h i c h was for two hundred and sixty-some dollars. The teller put tJu i cash in an envelope and sent it back to her through the chute. Back at her office a few minutes later, Gina counted out the money and apparently came up SGO short. She immediately called the bank and was told that the teller had balanced for the day and was right on the button. Jo extra SGO. Now what? Is all lost'? Not necessarily, but if it happens to you, there's no certainliy t h a t you'll get the money back. O n c e you leave a teller's witidow (or any other cashier's station for that matter), it becomes your word against theirs if you t u r n up short (or over). You can avoid gutting into any such hassle by taking a few seconds to count the cash that's been handed you right then and there, as soon as it's put in your hand, right in front of the teller. If that seems like oversimplified common sense, just watch the number of people who donH bother to count out the cash on the spot. If you fail to do so arid later find you've really been shorted,a call to the top trouble-shooter at the bank or business is certainly in order. Start at the top. For the sake of discussion,let's assume that the likelihood of dishonest tellers is about the same as the likelihood of dishonest customers. The possibility does exist that a teller has fallen onto l i g h t - f i n g e r e d w a y s . B a n k m a n a g e m e n t would want to Know about li, and if you alert them to the possibility, they might be able to trace patterns of behavior that could prove the point. The bank is insured for such problems. Whether they made a claim or paid you directly isn't i m p o r t a n t . If they feel that you've been had, they should make amends. D o n ' t be surprised if, in examining the situation, the bank makes a careful check of your own records with them. They might even run a full credit check, if there's enough involved. If you show up w i t h a spotty history in your checking account (excessive overdrafts, for example) or a delinquent pattern in your loan payments, that could raise a presumption which could serve to offset any presumptions about the teller's integrity. A n o t h e r p o s si bl e w ay of recouping iti such situations is if the personal property aspect of your homeowner's (or tenant's) insurance covers you for losses of cash. Chock w i t h your agent for details. Y e t another twist to the problem can occur w h e n you're p a y i n g a c h ock, say in a restaurant, nightclub and so on, with a large bill, and yon yet back change for a small bill. "Hey, I gave you $'20, and you gave me back change for $10." That kind of hassle. If yoifre dealing with h o n e s t people, the problem should resolve in a hurry. But maybe not. If you're not dealing will) honest people, you've got yourself a real headache. H e r e s so me pre ven ti ve medicine that's always worked for me: Whenever I pay with a large bill, I always take a second to note in tny mind the first throe or four serial numbers of the bill. Thai way, if I get back too little change and my claim is disputed, T can always say, "If there's a 320 bill in your drawer that begins with K-19'l on the serial, you owe me some money." Yes, it's happened. And yes, it works. Two new men named to NBA directors board Jesse L, Carr of Anchorage and Leo Rhode of Homer have been elected (o the 20-membcr hoard of directors of the National Bank of Alaska, Elmer R a sm tison, chairman, has announced. · ' A long-time Alaska reaident, Car r i s secretary -t reasu rer of Teams tors Local 959 in Anchorage. He has served on such statewide boards as the Heart Fund, the Alaska Crippled Children and the executive board of the United Fund, Mr is c u r r e n t l y n member of the Hoys' Clnb board of directors. Carr lias also served on various hoards ;md commissions under b o Ih H e p u b l i c a n and Democratic governors and was appointed to tlie Advisory Hoard for the North Slope Oil. l i e is a ** member of the Elks, VFW, American Legion and is a 32nd Degree Mason. Carr and his wife reside in Anchorage, [{boric lias been a member of NHA's advisory board of the Homer office since 19lil, and prior to that tinu i was on t h e board of the Hank of Homer. He is on the board of directors cif the Homer Electric Association, a member of the first City Council of Homer, the Homer CJiiUiibi'r of Cotnmrrco and served as a member of the House of Representatives in t h e 2nd Slate Legislature. He also belongs, to the E l k s and the Pioneers and was a member of the University of Alaska's Hoard of Regents from 1948 to 195C. Rhode, a '10-year resident of Alaska, lives in Homer. "We are pleased to have these knowledgeable Alaskans on our Board, 11 Rasnuison stated. "We believe that onr batik as a statewide- i n s t i t u t i o n can better understand all of Alaska's needs and render improved service by having a Board which is a cross-section of onr state." TV outlet told Need a cable, crawler, cutter, c r a n e , conveyor, or a curb loader .. . diamond drill, diesel e n g i n e , dumper, d o z e r . . . or s o m e p a i n t , p l a s t e r a t i d p u m p s . . , or maybe just a senator, warden, president, or labor leader. . . ? If they're in Alaska, they're also in Alaska Construction Oil magazine's annual July Directory Issue. Alaska's most up to date and c o m p r e h e n s i v e directory of m a n u f a c t u r e r s , distributors, products, suppliers, officials, and associations involved in the construction i n d u s t r y this year totals 158 pages. The listings include v i r t u a l l y ail equipment and product manufacturers with d i s t r i b u t o r s i n A l a s k a , o r elsewhere in the United Stales and Canada and serving the 49th state. Beyond this i n v a l u a b l e g u i d e , u p d a t e d listings art- included for local, state, and federal agencies, u n i o n s and associations, w i t h the names of those to contact equally as accessible. £. QJoa'cft ·/ " TS WIFE INSURANCE A plon to cover her life is easy to arrange. Let me give you the details. P.O. Box 529 . Phone 456-4803 Neiv Alaska construction, Alaska Airline /osss oil director y is read y S±LUnll rLli llllV lUbbVd Cn= _,, Wnc ,_ ,_ iIlSralll ,, SnnFranr , u reduced by Cosgrave Ronald f . Cosgrave, chairman and chief executive officer of Alaska Airlines, Inc.. announced today that May 1973 operations resulted in a loss of $150,99"!. This compares to last year's May loss of $549,826, a reduction of ; 72percent. This saving was accomplished in spite, of a decline in revenue to $2,700,319 from §3,132,983 in May 1972. Operating expenses were reduced 23 per cent from $3,605,269 to 52.782,815. Results for the first five months of 1973 were a loss of $1,466,183,areduction of 46per c e n t f r o m t h e f i g u r e o f $2,710,454 for the same period last year. Passenger load factor for May was 60.1 per cent compared to 45.1 per cent last year. January t h r o u g h May passenger load factor improved to 54.9 per cent from-13.1 percent. Cosgrave commented that the i m p r o v e m e n t i n r e s u l t s d e m o n s t r a t e s what can be a c h i e v e d a t t h e C A B recommended 55 per cent load factor. He anticipates that further improvements will result if the company can achieve greater flexibility in its route structure. Goals presently being pursued in this area include elimination of the two-stop restrictions between J u n e a u end Anchorage, and acquisition of luriiaround rights at Anchorage. In May, Cosgrave marked his first anniversary as chairman and chief executive officer of the a i r l i n e . Seattle-based Westours has assumed full responsibility for the sate and promotion of all H o l l a n d A m e r i c a Cruises products in 11 western states. At the same time, Holland America's sales organization will r e p r e s e n t W e s t o u r s , selling Westours South Pacific tour and cruise programs in the balance of the country. The new sales relationship between the two companies was announced jointly by Arie van T o l , p r e s i d e n t o f Holland America Cruises, and by H'J. Musiel, president of Westours, Inc. Van Tol said the plan would utilize the inherent geographic s t r e n g t h of each company. Holland America Cruises has h e a d q u a r t e r s in New York; Westours has regional sales offices in Seattle, San Francisco and Los Angeles. Westours, the largest tour company in Alaska, began its fourth season of South Pacific cruises and tours in November. The word boss has been used in politics since the 1971 Tweed Ring exposure in New York. THE FMRBMKS COKNMT CHURCH U05 10th Avenue Phone 456-6553 Announces: VACATION BIBLE SCHOOL July 9-13 9:00 a.m. to Noon Boys nrrc/ Girls 4 years 6ld through 8th Grade. A wonderful and inspiring time of learning and fun WELCOME! Notice to Lemeta Residents A public meeting of the City Council is scheduled to discuss the status of the Lemeta Overpass and its proposed location. All citizens are invited to attend to express their views. The meeting will be held oh Tuesday, July 10, 1973 at 8:00 p.m., in the City Council Chambers, 620 Fifth Avenue. /S/Evelyn M. Rusneli City Clerk Publish: Fairbanks Daily News-Miner July 5,7, and 9,1973 Big Specials for the little one at small prices. SWIN G MASTER^ V r '-**·"=;* Special 9 Infants swing Special ID Infants stroller Special \*^^ 399 Baby carrier Special 9" Baby back pack Special 13 Infants car seat Toddletime disposable diapers 149 I Toddletime \ favorites. Absorbent weight. Pinless fit. Daytime 30's. Famous Toddletime quality. Pinless easy to fit. Newborn 30's 104 I Toddletime extra absorbent, larger sized Pinless, Toddler 12's. toddletime extra absorbent quality pinless, too. Overnite 12's. JCPenney We know what you're looking for.

Clipped articles people have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 22,200+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free