Factors Behind Oil Firms Bigger Profits In 1974 First Quarter
New York report attributes higher profits to inventory gains from FIFO accounting, strong overseas margins, and higher crude prices. Texaco cites $589 million Q1 profit with nearly half from inventory profits. Exxon and others protect earnings with reserves and cautious tax planning amid calls for price rollbacks.
MENTIONED IN THIS ARTICLE
Josh Fitzhugh
New York
Texaco Inc
Maurice Adelman
Massachusetts Institute of Technology
Adelman
Standard
Alain Habach
Bache & Co
Fred Hartley
Union Oil Co
California
Hartley
House of Representatives
Tewaco
Exxon
Middle East
U.S
Texaco
Robert Hinckley
W.E. Hutton ,& Co
Wall Street
Hinckley
Baby Is Born In Tax Office In Philadelphia
Barbara West 22 delivered a baby girl in the Philadelphia City Hall Inheritance Tax Office while labor began during a visit with her sister. Officers arrived as mother and child were taken to a hospital in good condition. Mrs West also has a year old son.
MENTIONED IN THIS ARTICLE
Philadelphia
City Hall
Barbara West
Inheritance Tax Office
West
Frank Talent
Mrz. West
Senate Votes Four Year Window on No-Fault Auto Insurance
The Senate approved a four year delay for states to meet federal no-fault auto insurance standards. An amendment to allow states to set their own standards was rejected. The Biden amendment lets states with minimal plans delay until mid 1978, with Sept 1 1975 as a baseline to adopt minimum standards ensuring victims are compensated regardless of fault. Fifteen states already meet the minimum standards.
MENTIONED IN THIS ARTICLE
Washington
Senate
Howard Baker
R-Tenn
Joseph R. Biden
D-Del
Nno
Maine Seal to Start 200 Mile Swim Today
Andre the Seal will be released at Marblehead and swim 200 miles home to Rockport Maine as part of a research project on harbor seal intelligence and sensory systems. Trainer Harry Goodridge and scientist David Richardson note the educational value and hope for a successful crossing.
MENTIONED IN THIS ARTICLE
Rockport
Maine
Andre
Marblehead
Mass
Harry Goodridge
David Richardson
Department of Marine Resources
Richardson
Exquisite tact Sydney dining mishap on ship
An Australian company manager and his wife aboard a Japanese ship in Lyndey Harbor inadvertently ate a wakimpregnated fish from an ornamental bowl after a pause in conversation. The Japanese hosts, displaying perfect manners, joined in and finished the dish.
MENTIONED IN THIS ARTICLE
Sydney
UPI
Lyndey Harbor
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