The Des Moines Register from Des Moines, Iowa • Page 73

1 Jan. 10, I960 DES MOINES SUNDAY REGISTER 19-GA Iowa Near Top in Gypsum Industry and Is Expanding Iowa now ranks high in the production of gypsum and the opening soon of a new mine and plant near Burlington may make this state the nation's leader i.n this field. The state's four active gyp- PROGRESSES with IOWA While Iowa has been going forward, so has Iowa farmers and industries have been constantly striving to produce more and more products of finer quality. While this has been going on, Safeway has for 31 years in Iowa been continually improving and expanding its retail services to fulfill the food needs and wants of the people of this State. Illustrated below are the counties in Iowa where Safeway is rendering a modern-day food service: sum mines produced almost 4Y2 million dollars worth of gypsum in 1958 to rank Iowa as the iNo.

2 producer in the country, trailing only Michigan. Total value of Michgan's gypsum was Iowa's was valued at Iowa nlso ranked third in the amount of production with 1,230,000 tons. California's 12 active mines produced 1,423.000 tons to lead RECORD SALES FOR MUTUALS NEW YORK, N. Y. (J?) Investment companies broke through the two-billion-dollar level in sales for the first time in 1959.

The annual total soared to $2,300,000,000, up from $1,600,000,000 a year ago. Assets Assets of the 169 members of the National Association of Investment Companies rose to almost 17 billion dollars at the yearendr-A-year ago they were $14,800,000,000. The number of shareowners increased to 4,600,000 from 3,900,000 at end of 1958. Association membership rolls embrace most, but not ell, of the 280 different corn-panics in the investment field. There are two kinds of investment companies closed and open-end.

Each type specializes in investing other people's money for a fee. The theory is that professional management of investment funds in a wide range of securities provides more recurity through diversification and a better margin of profit and capital growth than could be achieved by the average individual investor. Closed-end investment companies have a fixed number of shares which are bought and sold on stock exchanges like any other corporate security. Mutuals Open-end investment companies (more popularly known as mutual funds) sell new shares constantly and redeem shares anytime to anyone wanting; to sell. The price is established by dividing the fund's assets, determined by the daily market value of the securities in its portfolio, by the number of outstanding shares.

The association estimated assets of its 155 mutual fund members would reach on Dec. 31, up from $13,200,000,000 at the end of 1958. Assets of its 24 closed-end investment company members were placed at $1,700,000,000 at the yearend, compared with $1,600,000,000 a year ago. the pack. Michigan was second in production.

Four Mines Now Iowa's four active mines are all in the Fort Dodge area in Webster county. They are the mines of Bestwall Gypsum Celotex National Gypsum and U. S. Gypsum Co. U.

S. Gypsum is boring two new shafts in the Mediapolis Sperry area near Burlington. When the 6 million dollar mine and manufacturing plant is completed early this year, its production will increase greatly Iowa's gypsum output in 1960. Gypsum in its various forms is used in agriculture, matches, some tooth pastes, school room chalk, in making molds of some articles and for artificial snow in theater productions, among other things. Idwa was third behind New York and Texas in the production of calcined gypsum valued at $8,884,000.

The state produced 789,000 tons of this material to edge out California's 710,000 tons. Finishing Plaster Gypsum is a non-metallic mineral chemically called hydrous calcium sulphate. Most laymen recognize its "calcined" (ground up and cooked) state as plaster of Paris. This is gypsum's biggest use; in this form the mineral finds its way into wall and finishing plaster bases (wet wall) as well as into such specialty applications as medical and dental molds and casts. Next to plaster gypsum is most often used as a core material for wallboard (dry wall) and plaster board, partitions and roof tiles.

Raw gypsum is a component of Portland cement and a valuable soil additive in scientific farming, U. S. Gypsum, with 300 million dollars in assets, is estimated to account for roughly half of this country's gypsum's market. Gypsum is found in commercial quantities throughout the world, including 23 states in this country. Mining operations vary from the deep Lhaft project in southeast Iowa to open pit mining in California.

Portland Cement 'v The 1958 mineral production figures of the U. S. department of the interior show Iowa ranking fifth in the value of Portland cement production for 1953 with shipments totaling almost 40 million dollars. California led with $124,000,000. Total Iowa Portland cement production last year vvas barrels, which gave the state sixth ranking in volume.

1 "i'MUWAl fUNDS rtso 1952 ifM is 'st tn 1942 lM rtSI Safeway began serving and pleasing consumers in these areas in the years listed below: EL wHArsJJEV IN ENVELOPES IfJl IflJ 1951 Dodge, Carroll 1957.. Sioux City 1958 Moines, Storm Lake, Perry, Boone, Marshalltown, Mason City, Newton, Grinnell, Oskaloosa, Ottumwa, Centerville, Creston 1959 1928.. Council Bluffs 1929 Shenandoah, Missouri Valley, Denison 1930.. Red Oak 1941 Glenwood 1942.. Jefferson Net assets of principal mutual funds rose during the last decade from in 1950 to an estimated $15,200,000,000 at the end of last year, reflecting heavier investments and market appreciation.

WIREPHOTO UP ess You, as an envelope use, csn look to Tension for continuing research and development of nev products and the improvement of old ones. Yoj are kept Transistors Reduce Maintenance Costs MURRAY HILL, N. J. The increasing use of solid ahead of technical changes as they de More and better products arul services are ever-continuing objectives of agriculture, industry, and marketing. Safeway plans to keep stride by opening more new stores and by modernizing existing facilities.

And Safeway will continue to expand the market for Iowa products not only to Iowa consum-ers'but to the customers of its stores in many other states. For example, Safeway is now purchas-in- more than 20 million dollars worth of Iowa foods and food products a year for its custom, crs outride of Iowa. state elements in computer control systems has reduced maintenance cost, Thomas Roy Jones, president of Daystrom said last week. The cost solid state devices, such as semi-conductors and transistors, still exceeds the cost of vacuum tube equivalents, he said, but an economic cross-over may be anticipated if not in 1960, then soon thereafter. velop.

Some oT Tension's new developments are illustrated here. There a-e irany more including SJCh things as better papers, safer sealing, accurate construction and yes, eea better appearance of a simple blacli int corner card. For your compete ''Envelope Idea Kit attach coupon be'o to letterhead. Ttnsion Envelop Corp I 1912 Grond Art. Dts Moirm 14.

Iowa I I CHtrrv 4 I SkiJ "lda Kit" witti I I oip( tf "Wot'i I I Ntr Efltlopl jii.iji.i II- mint 1 nuniuin in i'i MORE NEWSPRINT NEW YORK, N. Y. Preliminary totals indicate U. S. consumption of newsprint topped seven million tons for the first time in 1959.

The previous peak was 6,899, 260 tons in 1955. Industry experts figure 1960 consumption will exceed the 1959 level by as much as 2'2 per cent..