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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jan 30, 1974
Page
2
Sun Oil Co estimates 1973 profits at around $520 million, up sharply from $355 million in 1972. Fourth-quarter earnings rose 13 percent to $75 million. Sun plans a 1974 investment program of about $650 million, roughly three times the 1973 level.
Independent truckers protest as a nationwide shutdown deadline nears. Shots damaged three trucks near Youngstown Ohio amid scattered protests in Ohio New Jersey Oklahoma and western Pennsylvania with activity focused along the Ohio West Virginia border.
Nobel laureate James D Watson argued the federal drive against cancer risks becoming an unrealistic dream. He said progress depends on science’s cooperation and competition while acknowledging current research strains and the burden of bureaucracy at the Smithsonian Institution lecture series.
Troops battled peasants in eastern Bolivia as protests over a 400 percent rise in basic food costs escalated. Army General Juan Perez Tapia was freed after being captured in Punata near Cochabamba while routes between Cochabamba and Santa Cruz were cleared, and other roads remained blocked.
Washington AP reports USDA data show 2.1 million fewer cattle sold last year, boosting hamburger prices by about 28 percent as beef, pork, veal, lamb and mutton output fell 6 percent. December beef cost over $1 per pound, with live cattle prices near $48 per cwt. Forecasters expect more cattle to market later, but processing costs have risen.
Washington stations report ongoing shortages with several outlets either out of gasoline or capping purchases this week as supply issues persist across the region.
New York AP Merrill Lynch & Co. reports its stock brokerage arm Merrill Lynch Pierce Fenner Smith Inc saw net income fall to 33.7 million dollars in 1973 from 60.3 million the previous year. The parent company calls the year one of the most troublesome in memory for the securities industry.
The Wall Street Journal reports early signs of easing in the Arab oil embargo with talks of June deliveries to a U S firm via Petromin and possible relaxed production limits in Kuwait, though some US officials say they have heard no formal changes. A major buyer notes a surge of previously unknown oil appearing in the market.
Officials report 142 Arab military pilots and technicians are being trained in the United States. The group includes 14 pilots and 27 technicians from Saudi Arabia and training also covers 176 air crewmen and 662 technicians from Iran. Countries involved include Saudi Arabia Morocco and Tunisia with oil politics noted.
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