The Salt Lake Tribune from Salt Lake City, Utah on March 10, 1968 · Page 83
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The Salt Lake Tribune from Salt Lake City, Utah · Page 83

Salt Lake City, Utah
Issue Date:
Sunday, March 10, 1968
Page 83
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Up and Down the Street New Industry Aids Sanpete, Sevier Economic Outlook Mr. Woody (Editor"! Nole: This | $ fie first of two •rticles dealing with business and Industrial prospects for rur»| Utah.) By Robert H. Woody Tribune Business Editor The valley runs long and flat through central Utah. Mt. Nebo, starkly white with winter snows, crowns the north. Far to the south, Signal Peak dominates the valley. The pioneers farmed and grazed the valley and built their to w n s, calling upon the surroundings, the founders or the tomes of the Bible and the Book of Mormon as inspiration for names. Fairview, Mount Pleasant, Moroni, Ephraim, Manti, Gunnison, Salina, Richfield and Monroe prospered. A great place to live and raise a family, said those who lived there. But times have changed and how do you make a living now in Sanpete and Sevier counties? And what happens to a family MFS to Acquire Chemical Firm In Stock Trade Mountain Fuel Supply .'Co. :bas exer- •:cis«d options to acquire- outstanding 'Stack of Wasatch Chemical Co., Salt Lake City, 91 a IWor-one 'exchange. ;.'• A joint announcement of the proposal was made Saturday by M. M. Fidlar Mountain Fuel presHi-at, and ~ Frsik Bradshaw, Wasatch Chemical Co; 1 president. . • •-' after It has been raised? That's the agony of central Utah Making a living isn't easy. And a young man had better seek his fortune elsewhere. For though the counties have been scratching tooth and nail to get new industry, the sum total of all their present industry could be absorbed by the Wasatch Front with scarcely a ripple. By any reckoning, however, things are looking better. In 1960 a former North Dakotan Harry Mosher. and three employes' began manufacturing travel . trailers in an old cannery building near Ephraim. Now L&M Trailer Manufacturing Co and Harry Mosher has 100 employes looks forward to record sales of $2,300,000 in 1968 and a worrying about: "How to hold down . . .There is a point of diminishing returns." , Moroni Feed Co. operates an incubation, hatching and operating plant that has got to be the "Brave New World of Turkeydom," and is still growing. The "needleoraft" industry is a substantial employer of women in both counties. Edward Carlisle's Carlisle Manufac- 'necessary '.approval and Teffeteafion so -that the apquisatipn can be accomplished ..before June 15. . • • • '-* . . ' • ' §; Stock Agreemeet .>;.' Under the agreement, approximately ;one share of Mountain Fuel common would be exchanged for 10 shares of Wasatch Chemical common. > There are 396,200 shares of Wasatch .Chemical common stock outstanding. -.There are also 87,300 shares of Wasatch Chemical preferred Mountain Fuel. 'also will acquire, •-•.. • '••:..'-'. " ., "We are interested in Wasatch Chem> cal because of its past record of success and its future growth and earnings potential," Mr. Fidlar said Desire to Diversify "Our interest also stems from our desire to diversify our interests and strengthen the investment of our shareholders." Mountain Fuel is primarily a natural gas utility, serving Utah and southwestern Wyoming. It also is engaged in production of oil and phosphate rock — both non-utility endeavors. Wasatch Chemical manufacturers and distributes a variety of chemical products, cleaners and laboratory equipment as well as agricultural fertilizers and insecticides. Toung Men- If Educated- Have to Leave' hiring Co. employs 188 at plants in Ephraim, Gunnison and Redmond in production of sports clothes. Employs 18* Pacific Trail Co., Seattle, employs ni lte J?" 1 **" 1 M^ a»i Richfield. Other firms have plants in Mount Pleaaant and m Monroe. : .•£ .f 0 * 1 **?. Loganite,.. Ed .Carlisle fjH»ved his operations from Salt Lak* City to central Utah in 1M9. ....;Production is up substantially, thanks to a major contract from White Stag Co And Mr. Carlisle..has started construction of a brand new 16,000-square-foot plant in Ephraim. But the needlecraft industry is primarily an employer of women. And circumstances are that women are in short supply for the needlecraft industry. Has to Leave And Ed Carlisle notes: "The young man — particularly the educated young man.— has to leave." Oddly, some young men have come to Sanpete County and rot left it. But admittedly only very special circumstances support them. Among them: Gill Hibben, 32-year-old manfacturer of "Adventure in Your Hand" custom knives. With a shop in the basement of a former hatchery house, Mr. Hibben and four employes produce $85,000 a year in custom-built knives costing anywhere from $18 to $185 each. Moves to Cut Costs Mr. Hibben moved to Manti two years ago from Salt Lake City to trim labor and building costs. ... a rationale Sanpete and Sevier county promoters are quick to point out to any other prospective locators. Sanpete and Sevier county industry- See Page C-S, Cotana 1 alt £ak* tibmt Mines - Markets - Finance Salt Lake City, Utah — Sunday Morning — March 10, 1968 Seclion C Page One $1.7 Million Week's Sales Lease Tops Rea Ity L ist Real esUite sales last week totaled $1,759,625 in the multiple listing service of the Salt Lake Board of Realtors. Largest transaction of the week involved a 25-year lease for 5200,000 at 955 S. State, announced Konneth B. Evans, board president. Paul Carpenter of Carpenter Real Estate handled the transaction. Lessors were Earl Christison and Keith W. Jn- sepli, Salt Lake Cily. Lessee was Taco Bell, a Torrance, Calif., based restaurant chain. Robert McKay, president of the firm, signed the lease. This will be the third Utah restaurant of the chain which has about 215 branches across the nation. Five vacant lots sold for $37,000; 63 homes for $1,373,875; five multi housing units for $136,250, and two business' properties lor $212.500, Mr. Evans said. Edward Carlisle of Carlisle Manufacturing Co. employs 188 fat three sports clothes manufac- Retailers Doubt Repetition of Boycott on Food Chicago Daily News Service CHICAGO — The consumer boycott that plagued some grocers last year apparently has had its day. Though shoppers still are decidedly price conscious and responsive to specials, they are less likely today to resort to boycott, many retailers believe. Only five per cent of grocers polled by Progressive Grocer magazine thought the shopper's mood reflects one of a boycotter. In the survey, 69 per cent of grocers felt the consumer's mood was one of price-savings on foods. In the Progressive Grocer survey, 49 per cent believe shoppers this year would be upgrading purchases and have more interest in new items. With price competition severe among chains last year, indications are that profits after taxes on the average might have dipped to the lowest level since 1963. turing plants and is building a Ephraim. Sanpete and Sevier County can offer plenty of work in "needlecraft" industry. But jobs are few for the "educated young man. The Week " Finance Pesky 'Gold Bugs' Swat U.S. By Thomas E. Mullaney New York Times Writer NEW YORK — The Western world was reminded again last week — rather harsh'.y — of the precarious eco^ nomic situation in other nations by a persistent raid on gold in Europe's markets — buyers speculating on an eventual rise in price from the long fixed level of $35 an ounce. These currency doubters lack confidence in the ability and the will of Britain and the United States to adopt the measures necessary to bolster their economic positions — meaningful fiscal restraint and a correction of adverse international payments. For the last two weeks the world's "gold bugs" again applied severe pressure on the British pound, the U.S. dollar and other major currencies. This was the third series of speculative rushes for gold since Britain's devaluation of sterling last Nov. 18 Since Feb. 29, 300 million dollars of gold has been taken from world reserves by activities of the speculators and hoarders, virtually matching the last run just before Christmas. More than half of the estimated gold purchases in the latest period occurred on Friday as an air of expectancy built up in Europe with the approach of the monthly meeting of central bankers in Basel, Switzerland, this weekend. Two dramatic events focused attention on the meeting. The ILS. announced the drawing of 200 million dollars in foreign currencies from the International Monetary Fund to help support the dollar. And Canada arranged a drawing of 500 million dol- lars from the U.S. Export-Import Bank, plus 400 million dollars from European central banks, to beat back speculation against Canadian currency. The recurrence of gold-buying sprees underscores the urgent need for broad new economic policies on both sides of the Atlantic and for a significant reform of'the International Monetary System. This would entail prompt approval, by 100 nations, of the plan given preliminary sanction last September in Rio de Janeiro at the annual meeting of the IMF. That imaginative concept calls for the creation of a supplementary reserve unit — known as special drawing rights in the IMF — to finance expanding world trade. (Copyright) AUCTION-REAL ESTATE March 19-10:00 a.m. on th« prcmiMt at 331 EAST 3900 SOUTH (formerly Toltle Floral & Nvnsery) MURRAY, UTAH ARIA: 84,122 sq. ft., 1.93 acr*s (approx.) ZONED: C-2 Commercial TAXIS: $562.11, plus S«w*r chars* PwMk Water, S«w«r, ami mitt Itvctrkity «r* *n*ITaM«. Tw» OFFERINGS Will fit FOR: 1) Real Estate Only 2) Real Estate ami tuildings 3) Buildings - For Removal luildmg, comW of „ e W»r ho UM (885 «,. ft.) and a B r..nhoi.*. •.k^r 00 ",,' 3 ' 100 iq ' *•'' both n " din9 ™P° ir - »»«<lin9« offered with 30 dayi allowed for removal, Settl.menl in full on »)* day f*r buildingi. ' OM.rirtg. returning grMteit amount to teller will b* compered. Trotter of property by Quit Claim D«ed. TERMS OF SALE; Cold, ct 25% down, halonc. amortized monthly ever ten y»ar« with o% interett to buyer, with acceptable credit. A $10.000 depoirt ; n certified f»n<fi to be *ode immediately at cloie of bidding. roiwiiien an er before April 19, )Po8. ReprewnloHx* wirl b* en pr»iht«j to accept credit application* end •Sow property, 9<00 a.m. to-4:00 p.m., March 11 and 12. All dejcrip. rioni ond, above or* believed to be accurate. but ore not fluarontsed. Property to be sold ai -it. where-ii, without Warranty expreued or Implied. ,eld fcy THE SMALL BUSINESS ADMINISTRATION °0«-17Hi St., Denver, Colo. 80202 .*. -*?.*»**«y * «* ftftrH Government wtw mtrvn n» rteM M »cce»1 er retecl *nv M. F0« riWTHU MTOtMATrOM CAU. W. J. McCrav, MJ-S744, ALL GRAIN FLOUR MILL This beautiful kitchen appliance stone grinds any grain into fin* bread or cake flour. Also adjusts easily for making cereal. Retains the valuable nutrients of whole grain often lost through heat and damaging action of other milling methods. Why pay the high cost of commercial flour with its bleaches, preservatives and additives? For full information, fill out and mail coupon. *• « pert-time sol»s r»pr*>enfafrv* ait** earn more money then you d* at ywvr foil-time job. 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