Oil profits spark debate amid shareholder meetings and reforms
Oil firms report sharp first quarter gains with Standard Oil of California posting 96 percent earnings growth to 233 million and Shell and Marathon also up. Demonstrators interrupt Standard Oil of Indiana meeting as Congress moves a rollback plan and energy refunds totaling about 35 million are promised by federal officials.
MENTIONED IN THIS ARTICLE
Belimm
Ballion
Marathon Oil Co
Smalier
Emillion
Bus
J.C. Deneed
Imacome i
Whiting Lot
Standard Oil of
Indiana
Whet
House Commerce Committee
White House
Nixon
Federal Energy
John C. Sawhill
House
Sane
House Appropriations Committee
Exxon Juggles Figures To Show Slim Profit
New York AP reports Exxon Corp the largest U.S. oil firm trimmed first quarter profits by about 400 million to reflect anticipated taxes and political pushback Analysts say the adjustment would have lifted quarterly earnings above 1 billion and raised year to year gains to 146 percent if included Exxon cites two factors a higher expected Mid East crude price and a possible shift on foreign tax credits Also two Wall Street analysts estimate contingent liabilities near 408 million based on declared inventory profits Exxon holds large worldwide oil inventories and tanker stockpiles around 90 million barrels in storage and on ships worldwide
MENTIONED IN THIS ARTICLE
New York
Exxon Corp
Exxon
Peter Knutson
House
Ways and Means
Wall Street
Robert Hinckley
W.E. Hutton & Co
Cheaper car fuel eyed from ethanol process
Sen. William Proxmire said fuel could drop as much as 20 cents a gallon after the U S Army Laboratory at Natick Mass developed a process to produce ethanol from organic wastes.
MENTIONED IN THIS ARTICLE
Washington
William Proxmire
D-Wis
Proxmire
U.S. Army Laboratory
Nattick
Mass
Mirages and Biblical Events Highlight Mirage Theory
A Penn State expert argues that the biblical Red Sea crossing and Jesus walking on water could be mirages. Fraser cites a Seattle 1972 sight of two men on a boat, explained by a warm water surface creating refracted light making a bar invisible. He notes similar readings in ancient texts and suggests desert mirages could render distant landforms unseen. The piece also mentions a 1955 48 hour 18 minute sermon by Clinton Lacy.
MENTIONED IN THIS ARTICLE
State College
Penn
Red Sea
Mepacer
Eremenne Salis
America
Washington, D.C
Jesus
Fraser
Seattle
Desert
Tait
Clinton Lacy
Washington
GOP National Committee Eyes Convention Financing
The GOP National Committee discussed financing conventions amid a push for public funding. Talks followed Nixon's White House reception and Ford as speaker, with leaders noting continued Republican losses in four special elections and considering tax checkoff funding as the viable option.
MENTIONED IN THIS ARTICLE
GOP National Committee
Nixon
GOP
National Committee
Gerald R. Ford
George
Parties Battle Over Wage and Price Controls in Congress
Washington Republicans and Democrats trade barbs over a plan to extend President Nixon's wage and price control authority. The Labor Department reports a 3.5 percent annual drop in first-quarter productivity, amplifying inflation concerns as debate looms over a one-year extension of control powers.
MENTIONED IN THIS ARTICLE
Washington
Senate
Nixon
GOP
Congress
Labor Department
Robert P. Griffin
Reich
Democratic Caucus
Robert C. Byrd
Portugal’s Spinola Leads One Day Coup Reshaping Government
Portugal’s Junta leader Spinola announced major reforms dissolving the National Assembly and promising a multiparty cabinet while firing all governors and cabinet members. He freed the 180 political prisoners at Caxias Prison as crowds cheered in Lisbon amid tanks and protests.
MENTIONED IN THIS ARTICLE
Lisbon
Anturque Searels
Portugal
Ghyear
Abe
Multan
Stup
Portuazal
Cabiet
Spinola
Marcella Caetany
Presdemt America Thomad
Madeira
Spanola
National Assembly
Angola
Mozambique
Portuguese Guinea
Caxias
Natin
Aspett Fe
Spain
Purgal Lobon
Ate
Putice Spinola
Caetano
Porcugal
National Salvation Junta
Navy
Antonio Alba Rosa Coutinhe
Jo E Baptista
Senate Finance Committee Backs Simon for Treasury Secretary
The Senate Finance Committee unanimously approved William E. Simon to succeed George Shultz as secretary of the treasury. Simon, a former New York investment banker, has been deputy secretary of the treasury and the nation's energy chief, and the full Senate is expected to confirm the nomination early next week.
MENTIONED IN THIS ARTICLE
Fash
Treasury
Enerzy
William E. Suman
RL Herter
Donald A Penne
Congress
Con- Lenin
Herman
Petrie
Washington
Senate Finance Committee
William E. Simon
George Shultz
Humphrey Undergoes Tumor Evaluation at Bethesda
Sen Huber Humphrey of Minnesota entered Bethesda Naval Hospital for evaluation of prior treatments for a tiny bladder tumor. He had x ray therapy last November and December for a border line tumor and was hospitalized in January to relieve treatment discomfort. His office had announced plans for an April 8 hospitalization.
MENTIONED IN THIS ARTICLE
Washington
Sen
Huber
H. Humphrey
D-Minn
Bethesda Naval Hospital
Humphrey
Pittsburgh
Three Americans Sentenced to Life for Drug Conspiracy
A Turkish five judge court upheld life terms for Katherine Zenz of Wisconsin Joann McDaniel of Oregon and Robert Hubbard of California for conspiring to smuggle drugs into Turkey. The case could be affected by a Turkish amnesty bill lowering life terms to 24 years. They were arrested December 10 1972 after 26 pounds of hashish were found in their minibuses at the border.
MENTIONED IN THIS ARTICLE
Ankara
Turkey
Katherine Zenz
Lancaster
Wis
Joann McDaniel
Coos Hay
Ore
Robert E. Hubbard
San Diego
Calif
Syria
Border Post
Also Mentioned on This Page
Morton
Gramt
Standard Tal
California
Snell
Texaco
Standard
Occidental
Gulf
Houston
Shell Oil
Holland
Royal Dutch Shell
U.S
Washington -Ap
Republican Natioonal Committee
Udiay
Preside Nixon
Lange
Frederick Towne
May
Pinhetta Atevedy
Fran- Gike da Coste Cannes
Syamola
Jaume Silverw Marques
Carus Galvau de Melo
Manuel Drago Net
Spindola
Simon
Is Isa
Meruband Lottery
WEXT
Westminster Shopping Center
Westminster, MD
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