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CAPITAL FORMATION

PART 6

MISSOULA, MONT.-APRIL 7, 1980
MINNEAPOLIS, MINN.-OCTOBER 13, 1980

Printed for the use of the Select Committee on Small Business

U.S. GOVERNMENT PRINTING OFFICE

71-189 O

WASHINGTON : 1980

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GAYLORD NELSON, Wisconsin, Chairman SAM NUNN, Georgia

LOWELL P. WEICKER, JR., Connecticut JOHN C. CULVER, Iowa

BOB PACKWOOD, Oregon WALTER D. HUDDLESTON, Kentucky ORRIN G. HATCH, Utah DALE BUMPERS, Arkansas

S. I. HAYAKAWA, California ROBERT MORGAN, North Carolina

HARRISON H. SCHMITT, New Mexico JAMES R. SASSER, Tennessee

RUDY BOSCHWITZ, Minnesota
DONALD W. STEWART, Alabama

LARRY PRESSLER, South Dakota
MAX BAUCUS, Montana
CARL LEVIN, Michigan

WILLIAM B. CHERKASKY, Executive Director

HERBERT L. SPIRA, Chief Counsel
ROBERT J. DOTCHIN, Minority Staf Director

(II)

added bd 90 3/17/81

CONTENTS

Statement of Senators-

Page
Baucus, Hon. Max, a U.S. Senator from the State of Montana... 1551, 1663

Boschwitz, Hon. Rudy, a U.S. Senator from the State of Minnesota--- 1665
Testimony of-
Aadsen, Don, automobile dealer, Ronan, Mont--

1567
Abramson, C. E., real estate broker, Missoula, Mont.

1575

Anderson, George D., CPA, president Anderson Zur Muehlen & Co.,

Helena, Mont.

1564

Bass, Terry W., secretary-manager, Montana Contractors' Associa-

tion, Helena, Mont-

1572

Bradley, Allan, Washington Trust Bank, Spokane, Wash

1633

Bruins, Ralph, president, Summit State Bank, Richfield, Minn-

1695

Burke, Robert F., president, First National Montana Bank, Missoula,

Mont.

1651

Chelini, Joe, co-owner, Underground Mine Tire, Inc., Great Falls,

and Mine Tire Sales, Butte, Mont.--

1653

Claseman, Al, chairman and chief executive officer, SES, Inc., St. Paul,

Minn.

1691

Cronholm, John, assistant district director, U.S. Small Business Ad-

ministration, Helena, Mont-

1557

Deming, Janet, president, DOR & Associates, Inc., Minneapolis,

Minn

1693

Dolan, Michael J., partner, Peat, Marwick, Mitchell & Co., certified

public accountants, St. Paul, Minn.-

1704

Drake, Willis K., chairman of the board and chief executive officer,

Data Card Corp., Minneapolis, Minn--

1681

Edland, Wally, Farmers Home Administration, State director,

Bozeman, Mont-

1611

Haggerty, Daniel J., president, Northwest Growth Fund, Inc., Min-

neapolis, Minn..

1670

Haynes, Amos A., president, Convergent Systems, Inc., St. Paul,

Minn..

1679

Johnson, Earl, president, First National Bank, Helena, Mont..

1570
Kuhns, Eldon E., president, Montana Bank, Billings, Mont-

1589
Lopach, John, director of the Governor's office of commerce and small
business development, Helena, Mont-

1555
McClelland, Arden C., attorney at law, Missoula, Mont.

1635
Mulheran, Daniel P., president, Minnesota Family Business Council,
J. G. Mulheran & Associates, Minneapolis, Minn---

1723
Neu, Clyde, marketing and financial consultant, Great Falls, Mont-- 1594
Oakland, Robert H., Čity Motor Co., NADA director, Helena, Mont-- 1573
Pillsbury, Hon. George Š., Minnesota State Senator -

1665
Pyfer, S. Clark, consultant, Helena, Mont-

1655
Schumacher, Peter M., president, Électric Devices, Inc., Great Falls,
Mont..

1614
Sherwood, George, retired businessman, Missoula, Mont--

1585
Stickney, Arwood D., Missoula, Mont..

1658

Sudeith, Russell J., Jr., attorney at law, Felhaber, Larson, Fenlon &

Vogt, St. Paul, Minn..

1715

Statement of-

Ernst, Doc, Missoula, Mont.

1660

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