Idaho State Journal from Pocatello, Idaho • Page 6

Sunday Journal, Pocatello Sunday, Jan. 9, 1968 Investment Broker Says 1965 Was Most Affluent in History While the current expansion since 1961 has been built 3 good deal on credit, nevertheless the past year has been described as "the most affluent year in our history, H. S. Howell, Pocatello investment broker, told his fellow Roturians Thursday. The speaker, a native Pocatel- lan who has been in the invest ment business since 1947 was presented by Lee Fawson.

Invocation was by Charles Jensen. Ailhui Young presented guests, who included George Baker, Portland, a former Po- catollan, now general manager for the Northwest Division of the Union Pacific. Howell said this nation has had a 15-year boom which has beep the longest in its history although there were mild recessions in 1948, 1957 and 1960. In 1959, he added, money was actually tighter than it is now, but that was because the government was doing a lot of borrowing. Howell said plant and equipment investments have been substantial over the past year: and indications are that they will continue through the year ahead although indications are "our economy tends to reach its capacity." He added that consumer spending had been helped byj tax cuts and the automotive in-; dustry, an important phase of economy, has had good years.

The Social Security tax increases will take about five billion out of the economy, the speaker and the balance of payment problem remains a big factor. Interest rates in the United States are lower than any place in world and Howell said it is his opinion that these will have to be increased if "we want to keep our money from going abroad." "People have fled to gold when they have become uncertain of currency," the speaker said in closing, "but our gold backing has been going down." He expressed the opinion that eventually the 25 per cent reserve requirement would be removed. President Stan Day presided. ON THE STREET Computers to Help Customers By Keeping Store Stocks Up By SAM DAWSON AP Business News Analyst NEW YORK (AP) The customer may always be right but in about one out of every four trips to the department store she leaves empty-handed because it was out of what she wanted to buy. Coming to her rescue is that all-around handyman of the Soaring Sixties the machine.

Computer makers say this modern helper of industry is all set and eager to help the customer. And if this streamlining of the retailing business works as planned, the shopper eventually should be able to dictate, through her purchases, the merchandise her favorite store will carry and be sure to have in stock. The new program is based on a study of more than 30,000 shoppers in typical department stores. This showed that what the retail trade calls "never outs" such staples as men's socks and women's lingerie -were actually out of stock in specific styles, sizes or colors some 22 per cent of the In some stores the "never outs" were actually out as much as 35 ier cent of the time. "Most often this out-of-stock problem is not the retailer's ault," A.J.

McGill, manager of distribution industry marketing or International Business Machines, said in an interview. 'The average department store carries about one million stock- keeping units that is, individual sizes, colors and styles of every item. The time lag in manually keeping track of thi: enormous stock means that many items will not be reordered in time." So the computer makers saw a big opening. And now IBN will offer a set of 40 computer programs to help the retailei manage his inventory. It wil also let computers balance stocks to the projected needs customers, and also reac quickly to the unexpected twist, in consumer buying trends.

The new approach is called inventory management program and control technique and McGill says it is as compli cated as Its name. But the ma HUNTING CONTEST WINNER ANNOUNCED The grand prize winner in the hunting contest sponsored by Montgomery Ward was Gary Dahlke of Mink Creek Road. Jay Anthony, sporting goods manager of the local Montgomery Ward store, presents Mr. Dahlke with a model 700 Remington rifle. The antlers of the deer measured inches from tip to tip and inches up the center for a total of 50 inches.

Second place antlers were entered by Grover Noble, with a total measurement of 49W inches. Fifty-nine hunters entered the contest. Rowland to Director of Savings-Loan T. Ben Rowland, president of Rowland's one of Idaho's oldest dairies, has been elected a director of First Security Savings and Loan Association. The announcement was made jointly by Dr.

William F. Ed- wands executive vice president. First Security Investment Company, and George W. Watkins, president, First Security Savings and Loan. First Security Savings and Loan Association has operated since 1928 and maintains its main office in Pocatello with a branch office at Idaho Falls.

The company has total resources in excess of $26 million. A native of Pocatello, Rowand is a director of the National Independent Dairymen's Association, Washington, D.C. He las also served on the agricul- ure committee of the United States Chamber of Commerce. Rowland just completed a second three-year term as director of the Pocatello Chamber of Commerce. He was one of three Chamber directors who formed and initiated the Economic Development program in Pocatello.

Rowland served for six years as director of the Salt Lake Branch, Federal Reserve Bank of San Francisco, and was chair man of the board for three years. Active in the community, Row land has been a director of the American Red Cross, the Poca tello Golf and Country Club an Rotary Club. He is a member the Pocatello Chiefs, and member and Past Exalted Rule: of the Elks Club. LBJ Emerges from Another Scuffle with Nation's Industry By STERLING F. GREEN WASHINGTON (AP) Presi- ent Johnson has emerged rom still a scuffle industry without seriouly mudging his credentials as a riend of businessmen.

In an apparent victory for his let us reason together" ap- roach to national problems, ohnson batted down a $5-a-ton rice increase for structural teel. He settled Wednesday for $2.75 boost. The White House emphaticai- denied that any behind-scenes eal preceded the announcement by United States Steel Corp. of the pattern-setting ompromise increase. But everybody knew there lad been feelers and soundings- iut on both sides.

U.S. Steel had ifficials in Washington testing he administration's attitude, 'he administration by White louse admission had people contact with steel producers. Unlike President John F. Kennedy in the steel showdown of 962, Johnson talked tough but never let the controversy reach High Employment Reduces Taxes that point of no return at which a compromise would have been impossible. Both sides knew throughout the five tense days after Bethlehem Steel Corp.

posted its $5 increase, to be followed by Inland Steel that Johnson would accept gladly any settlement which did no real violence to the administration's anti-inflation guidelines for wage and price justments. J.S. Steel came up with the rmula. It was a price boost ly about half as big as Bcthlc- m's and offset, in part, by a in the price of cold-rolled eet steel which competes with panese-made steel on the est Coast. Quickly, Chairman Gardner of the President's juncil of Economic Advisers plauded the moves as "gener- consistent with the price- age guideposts." Bethlehem nceled its $5 increase.

Inland id it would revise its price "to competitive." Administration officials were sibly relieved. So were mosl gments, at least, of the stee! dustry. Neither side wantec dispute to reach the stage MOVING COMPANY USES NEW POLY PAK MACHINE- Westergard Transfer and Storage recently obtained a new Poly Pak machine for use in packing dishes and other fragile items. The process involves the use of heated plastic that is vacuum sealed to insure absolute cleanliness during the moving. One of the outstanding features of this new machine is its portability.

It can be easily moved from job to job. chine handles the complications. "An extremely complex set of mathematical techniques," says McGill, "will let retailers predict future trends of merchandise in stock, based on past sales history. They can tell more accurately and quickly which fashion items, such as women's dresses, are sellng and which are not. Then they can reorder the one and reduce the other for early clearance." For the customer this would mean being able to keep in step fast with the latest craze in her set, or to get her hands on a bargain faster.

And also she would be sure that the trek to the store wouldn't be in vain. TELEPHONE ADVISORY BOARD MEETS Conferring here Friday were members of the Idaho Advisory Committee for Mountain States Telephone and Telegraph Co. The citizen's group helps formulate policy for the telephone company. Left to right are Don Daley, Boise; Forde Johnson, Idaho Falls, Frank Bromley, Boise; John Breckenridge, Twin Falls, Fred Jacobs, Boise, Keith Rich, Montpelier, and Perry Nelson, Pocatello. They met in connection with Chamber of Commerce events.

First Security Sees New Rise In Area Capital Expenditures Capital expenditures in the Intermountain area for development, construction and equipment should total approximateh SS99.6 million during 1966, an increase of $21.6 million over 1965's record year. This is the report contained in a special feature of First Security Bank's quarterly News Letter, which will be distributed during the next few days, it was announced Saturday by J. H. Gentles, vice president and manager. The News Letter is edited by Dr.

EIRoy Nelson, First Security Corporation vice president and economist. i expenditures alone should amount to $675 million during the year, the report notes, while the remaind er is expected for the purchase of equipment, exploration, mineral leases, etc. Public constTM- lion projects, forecast at $205 million, represent the largest single type of construction in the region, followed by commercial and industrial, $150 million, residential, $140 million; and public utilities, including railroads, $120 million. For the state of Idaho, anticipated capital expenditures during 1966 should total $344.2 mil- lion. This is an increase of $20 million over that actually expended during 1965 and $60 million over that of 1964.

Private sectors of the economy list approximately $230.6 million as anticipated capital expenditures, some $32 million above last year, while public sectors should be $113.6 million, about the same as last year. It is estimated that mining companies in the Gem state will spend a total of $11.5 million for the exploration, mining, milling, smelting and refining of metals, as well as the exploration and mining of phosphate rock, clays and other minerals. A major area of expansion is in the Coeur d' Alene mining district where there is expansion in lead, zinc and silver. A second major expansion area is that of the. phosphate mining and beneficiation in the Soda Springs and Pocatello areas, reports the News Letter.

Idaho manufacturing industries expect $50.7 million in expenditures, including food processing, potatoes, sugar beets, vegetables and meat. The major expansion will be in phosphate processing, both in the Soda Springs and Pocatelio areas. Commercial, residential and MONKEY BUSINESS An attractive young British scientist. Baroness Jane van Lawick-Goodall has lived in Tanzania for five years to ob serve the details of chimpanzees life and ways. public construction all are forecast about the same as was expended during 1965.

Commercial construction is listed at $18 million, including shopping centers, office buildings, while residential construction should be $54 million and public construction $114 million. The largest segments of public construction are for the state highway program, including the interstate highway system. Second is the construction at the Atomic Complex at Arco. i school expenditures will be slightly higher than one year ago. There are some major! increases in the area of municipal public works, reports Firsi Security.

Public utility expenditures will total about $75.3 million, an increase of some $18 million over 1965. Major expenditures in this area are for the new Idaho Power hydro-electric plant on the Snake River. Expenditures for other utilities--natural gas and telephone--are about the same as last year. I Churches, hospitals and private college expenditures will total approximately $21 million, some $2 million higher than in either 1964 or 1965, according to the report. 119 so See It At CLARK'S BUSINESS EQUIPMENT Behind Hong KonR dnsine YELLOWSTONE PLAZA 232.83.12 BOISE (AP)--Idaho's low un employment rate has enable( employers to gain .2 per cen relief on their unemployment in surance tax, H.

Fred Garrett director of Idaho's Departmen of Employment, said. The reduction, Garrett report ed to Gov. Robert E. Smylie and a $3 increase in maximum weekly benefit allowance pay rnents show the state's ability administer its unemployment in surance program on a soun actuarial basis and to maintaii a financially solvent unemplov ment insurance reserve fund Increased diversification Idaho industry and more year round work for the state's labo force were also credited for th tax reduction and increase i benefits, effective this July. T.

BEN ROWLAND Active in Community State Supreme Court to Open BOISE (AP) The Idaho Su preme Court has announced will hear 15 cases in Boise start ing next Tuesday. One involves an appeal C. H. Leavell and Co. and Mo rison-Knudsen Co.

against Gra and Associates, on a su contract to build portions of Minuteman missile installatio at Magna, Utah. UP TO And EVEN MORE during STORMM JANUARY CLEARANCE distrust, if not downright enmi- that marred Kennedy's re- ations with business after his showdown with the steelmakers. Kennedy forced a complete and humiliating backdown on the industry by mobilizing a massive show of government force some of It punitive and retaliatory in nature. The indus- found itself denounced publicly, facing a grand jury probe which implied criminal prosecution, threatened with the withdrawal of a planned tax liberalization, and in danger of collusive pricing charges. There was also the threat of antimonopoly action to break up U.S.

Steel Corp. Johnson was content to use one weapon the appropriate one of ordering government purchasing officials to buy steel from producers who hadn't raised the price. The Pentagon said Wednesday night the order to buy steel at the lowest prices still stands. Kennedy won, hands down. Johnson came off with half a victory, but with his consensus of support among businessmen still reasonably i a -strained, but not ruptured.

SPECIALS of the WEEK MONDAY French Fries lOc TUESDAY Sandwich WEDNESDAY Hamburgers THURSDAY Milk I DC THESE SPECIALS WILL BE IN EFFECT EVERY WEEK SCOTTY'S Drive-In 5th Bonneville POCATELLO NOW UNDER NEW MANAGEMENT -NOTE- Specialt and Prices In Effect at Smitty'i Drive-ln-ldaho Falli. i.