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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
May 06, 1948
Page
11
Rate increase sparks dispute as truckers and shippers clash over higher rail freight charges in Los Angeles with May 6 reports noting industry tension and potential policy impact.
G Anthony transportation engineer for the Truck Owners Associations of California and Motor Truck Associations of Southern California told the State Public Utilities Commission rate hearing that 68 of 800 California truck carriers posted a weak start to the year with net operating revenue of 1500 dollars versus 43 million dollars total business. He said current truck rates run 6 percent below rail rates despite a 12 percent wage increase. J S Kirkiman, president of the Los Angeles Traffic Managers Conference, opposed the proposed rise, arguing rates should reflect independent costs for rail and truck without cross comparison.
Gamble-Skogmo Inc reports record annual sales totaling 145,167,911 in 1947, a 14 percent rise from 1946. Western Auto Supply Co. is its Western Division, with 2200 stores across 26 states and Canada. Net earnings declined from 6,778,850 to 2,245,558 despite higher sales.
Standard Oil reports another Montalvo district well in Ventura County, the McGrath 62-4 flowed about 975 barrels per day of 30.1 gravity oil from a depth near 9314 feet, located 1000 feet northeast of the McGrath No 2 discovery. The No 2 well was drilled to 11,505 feet then reduced to 8660 feet for completion, with spudding on March 2. The report covers various production figures, stock levels, and ongoing tests including oil, gasoline yields, and refinery activity, alongside anticipated tests at East Long Beach and Santa Fe Springs districts and attendance at an American Petroleum Institute session in Los Angeles.
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