Sunday Gazette-Mail from Charleston, West Virginia on May 26, 1974 · Page 16
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Sunday Gazette-Mail from Charleston, West Virginia · Page 16

Charleston, West Virginia
Issue Date:
Sunday, May 26, 1974
Page 16
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_\i a 26.1974 Sunday Gazette-Mail Sadat Moves for Change In Politics, Economics Chess A game of chess is played by Mike Eakle (left) of 2126 Lincoln Ave., St. Albans. and Clifford Scott of Institute during a lull at the Spring in St. Albans Outdoor Art Show spon- sored by the St. Albans Public Library. In the background is Scott's exhibit, "Contemporary Artistry." (Staff Photo by Ferrell Friend) Utilities Leading 'Coal Rush' By STRAT DOUTHAT The Associated Press Like muskies after minnows, large conglomerates are fast swallowing up the last of West Virginia's small, privately owned coal companies. So frantic is the current scramble for the black, petrified vegetation, in fact, that some future historian may look back and label this period as the time of the great "West Virginia coal rush." . Leading the charge, which began in earnest last fall after the availability of oil allegedly became uncertain and petroleum product price leaps became a definite certainty, are the utilities and the companies that deal in other energy forms--primarily oil. Of the state's three most prolific coal producers of 1973, Politician Deported LIMA. Peru I/Pi -- Opposition politician Dr. Javier Arias Stella was deported from Peru early Saturday, relatives reported. They said police put him aboard a plane bound for Buenos Aires, Argentina. The government made no comment. Arias Stella is secretary- general of Popular Action, one of the two major political parties in Peru. He was deported to Buenos Aires last year but was allowed to return after protests in Peru. for instance, two belong to oil companies. Continental Oil's Consolidation Coal Co. topped the list last year while Island Creek, owned by Occidental Petroleum, ranked third. Eastern Gas and Fuel, whose owrfer, Eastern Associated Coal Corp., derives less than half its annual income from coal, ranked second. All three companies are on the New York Stock Exchange. To find a privately-owned, West Virginia-based company among the top producers, one must go to the number 10 spot. It is King Nob Coal Co. of Phillipi, which operates in Harrison and Grant counties. Then comes Amherst Coal Co. of Charleston. "We were founded in 1893," said Charles Jones, executive vice president of the company, which operates in South- West Virginia and is one of the few family-style coal companies still in operation. Although he didn't want to get into statistics or particulars, Jones acknowledged the utilities have tried to purchase Amherst. "Frankly, I don't know of anybody who owns coal or coal property who hasn't been approached," he said. "These companies are looking for two things," Jones added, "reserves and management. Miners are hard to find these days and management is even harder to find, coal not b e i n g an exact science, you know. "So when they buy you out, it's usually lock, stock and barrel. In many of the cases, the sale is made with the stipulation that management goes with the deal." While Amherst is not for sale, Jones said, the recent sale of Belva Coal Co., a private company with extensive holdings in Logan County, bore him out. Not only does the company have 20 million tons of low sulphur coal in reserve, but Gale Stepp, vice president of Belva, said the International Mining and Petroleum Corp.--whose purchase of Belva for approximately $5 million was announced only last week--plans no management changes. "There were four or five companies that wanted to buy us,;' Stepp said. "Two of them were utilities and another was out of Texas...It might have been an oil company, I don't know." Little Boy Blue Mav Gel This Job LONDON ( A P ) - Brian Waines says he's tired of blowing the horn of Ripon, Yorkshire, without a deputy to give him a windbreak now and then, so he may quit -- even though he's, fond of the three- cornered hat and buff coat that go with the office. The horn has been sounded at 9 o'clock each night since the year 886 to remind Ripon's citizens to extinguish their fires. M e a n w h i l e , Jones said Amherst, which ranked 10th among the state's top producers in 1972, fell to 13th last year because of mine openings and acquisitions by the larger companies. "Island Creek, for example." he said, "will buy a couple of small mines and aug- m e n t t h e i r p r o d u c t i o n figures." "The main reason for the demise of the small, privately owned mine," he said, "is because of increased costs. Why it takes $20 million these days to open a one million ton producer. And it might go as high as $30 million. "You just .don't find anyone but the big companies with that kind of money." One small producer, who got into the business in 1970--before the Middle East Oil squeeze, and the ensuing leap in prices--is Keith Whitten, president of Lizann Mining Corp. of Huntington. "In the past year," he said, "the price of some types of coal has gone from $8 to $28 a ton and the price of labor and mining supplies has gone up in almost direct proportion." "It's a frustrating market," he said. "The laborer wants Youths Detained . TOKYO -- I/PI -- A 3,300-man police force cracking down on hot rod and motorcycle gangs detained 57 persons -- some of them for carrying dangerous weapons such as steel pipes and wooden swords, and others for smoking ciagarettes under age. more; the miners want more; the suppliers want more, yet nobody wants to do more." "You can't get equipment," Whitten asserted. "The situation now is such that used equipment is selling for more than new equipment, because of the 22 month waiting period for delivery. And everybody in the coal business is fearful of government control. "They're afraid to spend any money, afraid that a liberal, Democratic administration will be elected in 1976 that will change from the current selfsufficiency posture of the Nixon administration to one that would take an environmental approach." However, Whitten--who - said his company had had several offers from larger outfits--was far from pessimistic. He said Lizann has no intention of selling out. "We're not interested in selling," he said. "We think the future of coal is very (C) New York Times Service CAIRO -- Although he has been hampered by the delay in achieving a separation of Israeli and Syrian troops. President Anwar el-Sadat is pushing ahead with his program for the political and economic transformation of Egypt. Every day brings its share of minor or major news items. S: * A few days ago the grandson of Ahmed Orabi, a 19-th- century nationalist hero, was released from jail after serving 20 years of life sentence for subversive activities. *· The day before, the national assembly djscussed plans for the reactivation of the Cairo and Alexandria stock markets, which have been defunct for 20 years, and for m a k i n g the E g y p t i a n pound convertible. »· And the day before that, a former member of Egypt's highest tribunal, the state council, was reported to be suing the government in his former court for $60,000 damaged for having been dismissed without cause and later tortured under the regime of Gamal Abdel Nasser. Rose al Youssef, the weekly that reported the suit, said that there was a "club" of several hundred former civil 'servants bringing similar actions. Recently the state council, in a landmark decision, found that all expropriations of private property under Nasser were illegal and had to be reversed. »· Abdel Azia Hegazi. who took over the cabinet as first deputy premier in April, has just spent 10 days in Teheran discussing Iranian investments in Egypt. Not long ago, Iran was described by the Egyptian press as an American dagger pointed at the heart of the Arabs. Foreign diplomats have defined Sadat's new policy as "de-Nasserization." The president and his aides reject the term. They say that Sadat is giving the Egyptian nation a modern cast, but that far from breaking with the Nas- serit revolution of 1952, he is only "correcting past mistkes" while preserving the valid aspects of Nasser's policies. Summed up, the main points of Sadat's program are: »· A call for rapid economic development. +· An "open door" financial policy to attract private foreign investors by establishing industrial free zones and giving investors liberal terms for the repatriation of their profits and protection against nationalization and expropria- »· Nonalignment in foreign affairs. »· An "open society," in which citizens' rights are protected by the courts against police repression and bureau- , cratic whim. »· Systematic planning for social development, In other words planning to bring Egypt into the 20th century. Newj4manff Electric/Gas Heating Cooling Unit with the exclusive new HTM Heat Exchanger SAFE! SAVE It is outside. No flame your home. no fumes in SAVES SPACE COOLS! Save up to 17% on your gas bill. No pilot light to waste gqs. It ignites with a spark plug. Provides instant gas heat. Gives you more room in your basement. .. .Since your space consuming furnace is removed. Use this space for recreation, storage, etc. Cools and dehumidifies your home with electric air conditioning. (Available In 2,2 Vi, 4 and 5 ton sizes) Phone for free home survey 346-8940 or 346-8102 CHARLESTON HEATING CO. INC. "Licensed Installers" 1136 Oakhurst Dr... .Charleston LENVILLE STATE COLLEGE CLASSIC 500 SUNDAY, MAY 26th and MONDAY, MAY 27th 2 BIG DAYS RACE ON IN FOR SAVINGS! OPEN SUNDAY I to 7, MONDAY 9 to 9 * converse YOUTH'S 11 to 2 BOY'S 2'/2 to 6 MEN'S 6Va to 13 Pair Red, White, Black, Gold FAST BREAK It's Worth The Drive To SAVE! YEAR PROGRAMS ion A Dozen or More styles LADjES CANVAS OXFORDS and SLIP-ONS Elementary Early Childhood Special Education Business Administration Liberal Arts TWO YEAR PROGRAMS Business Administration (2 yr.) Food Service Management Land Surveying Forest Technology Secretarial Science Social Service Technology MOF^E INFORMATION WF^ITE MACK K. SAMPLES ASSOC.DEAN OF ACADEMIC AFFAIRS G L E N V I L L E S T A T E COLLEGE G L E H V I L L E . 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