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The South Bend Tribune from South Bend, Indiana • 1

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South Bend, Indiana
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4 OIL COMPANY PROFITS THIRD QUARTER KET (NCCiiE KEifccSt IN MILLIONS 1978 Price Twenty Cents metro SOUTH BEND VOL. CVII, NO. 229 SOUTH BEND, INDIANA, THURSDAY, OCTOBER 25, 1979 (g 1979 South Bend Tribune Corp. ig oil profits surprise irk Congress $45 spot oil price reported TEHRAN, Iran (UPI) An Iranian newspaper said today Iran sold crude oil for $45 a barrel in a spot deal concluded Wednesday for the highest price ever received for Iranian petroleum. The Persian-language newspaper Bourse said it was the highest price received so far for Iranian crude oiL It said Iran oil had been selling on the spot market at prices betweel $40 and $45 a barrel.

National Iranian Oil Co. officials were not available to comment on the report or give details of the deal mentioned by the paper. The latest reported spot price was nearly double the revised official prices announced by Iran on Oct. 15 for its term contracts. main reasons for the earnings increase, Sohio said.

The firm said sales rose in the quarter from $1.3 to $2.1 billion. Sun said its quarterly profits were $174.3 million or $3.19 a share, up from $105.4 million, or $1.97 a share, in the 1978 period. Sales rose to $2.61 billion from $1.83 billion. Sun attributed the improved quarterly and year-to-date results to higher profits overseas and in the companys Canadian unit, Suncor. Cities Service said its quarterly profits rose from $52.6 million, or $1.91 a share, in 1978 to $86.1 million, or $3.11 a share.

The company ascribed the increase to higher domestic oil, gas and copper prices. Sales rose from $1.14 billion to $1.6 billion. Marathon said third-quarter profits rose from $50.5 million, or 83 cents a share in the third quarter last year, to $79.7 million, or $1.31 a share; mostly due to better results from foreign operations. Sales for Marathon were $1.91 billion in the third quarter, up from $1.2 billion in the year-earlier quarter. Phillips said its profits for the quarter rose to $193.0 million, or $1.25 a share, from $118.8 million or 77 cents a share in the same quarter last year.

Revenues rose from $1.75 billion to $2.50 billion. JMEW YORK AP) Reports of big profits by the big oil companies, which have outraged some members of Congress, are coming as a surprise to the experts who keep an eye on the industry for investors. The big surge in third-quarter earnings is causing an embarrassment to the oil companies and the oil analytical fraternity, said one member of that fraternity, Sanford Mar-goshes of Shearson Hayden Stone. He and other analysts predicted sizable increases in the companies profits in the third quarter over the comparable 1978 quarter, generally between 40 percent and 60 percent, but only a handful have been in that range. Most have been much more spectacular.

Phillips Petroleum the nations llth-largest oil company, today reported a 62-percent increase in profits for the quarter, an increase it attributed primarily to increased chemical earnings and to profits from overseas oil operations. On Wednesday, Standard Oil Co. (Ohio), the 14(h-biggest U.S. oil company, announced the biggest profit increase so far for the July-to-Sep-tember period: A 191 percent jump. Mobil the nations second-largest oil weighed in late in the day with a 130 percent in ly approved a measure to extend gasoline price controls and allocation plans through mid-1981.

Its a disgrace to the nation. Its just an absolute and utter disgrace, House Speaker Thomas P. (Tip) 'ONeill, said of the profits. Mobil, attributing its profits increase to better results from foreign operations, said its earnings for the quarter were $595 million, or $2.80 a share, compared with $252 million, or $1.22 a share, 12 months earlier. Sales rose from $9.2 billion to $12.1 billion.

Sohio said its profits rose from $125.7 million, or $1.06 a share, to $366.2 million, or $3.03 a share. Higher prices for Alaskan oil were the Cass commission head backs linkup with Indiana Greener Skunk with a monk no bunk CULLMAN, Ala. (AP) The skunk probably was only curious about all those folks sleeping in the Smoky Mountains trail shelter. But Rev. Aloysius Plaisance and the other hikers were mightly relieved when the critter moved on.

The monk of St. Bernard Abbey was on a trip to the mountains near Gatlinburg, last week when the hikers found themselves bedded down with a beautiful but potentially stipky stranger. He climbed all over all eight of us, Plaisance said Wednesday. We made sure we kept nice and quiet and didnt get excited. There was no squirting at all, no smell.

I guess you could say it was a skunk in the bunk with a monk. cent in Indiana. Michigan has one of nations most liberal workmens compensation laws, with some businesses paying up to in workmens compensation for every $100 earned. Christianson said that has encouraged an exodus of industry from many lower Michigan counties and discouraged new industry. 1 The Indiana Department of Commerce uses Indianas workmen compensation law in advertisements aimed at luring new industry.

The group also noted that Indiana has a state general fund surplus, while Wayne County, which includes Detroit, is broke. Bill LeBre, a Cassopolis lawyer, Michigan has deteriorated because of said four steps are needed for seces- high workmens compensation costs, sion: The county must approve a rpnt in TnHiana crease, and lOth-ranked Sun Co. said its profits had risen 65.3 percent in the quarter. Cities Service Co. and Marathon Oil both ranked about 17th.

among U.S. oil companies, reported profits up 64 percent and 58 percent, respectively. The announcement of those dramatic profit increases followed a 118.1 percent jump announced on Monday by Exxon the industry giant, and a 134 percent increase announced on Tuesday by Conoco. In Washington, the House of Representatives its members apparently upset by the big profit increases reversed itself Wednesday and quick state referendum seeking to secede, the Legislature must vote to release the county from the state, the Indiana Legislature must accept a new county, and Congress finally must approve it. There is precedent for secession from a state, though it never has been done by a single county.

LeBre said a group of Virginia counties seceded to West Virginia after the Civil War and. Maine seceded from In a January 1976 opinion by Michigan Atty. Gen. Frank Kelley after Upper Peninsula counties inquired about forming a new state of Superior, Kelley said that a county could institute secession proceedings, Opinion The slayings last week of five peo- pie in South Bend have focused attention again on the fact that $: little is being done to curb the availability of handguns to irre- sponsible people. Page 14 Entertainment Tribune movie reviewer Sam Mir- kin doesnt beat around the bush one bit in his assessment of the film Avalance Express, now showing at the University Park, It is just plain awful, writes Sam.

Page 28 Action Line A South Bend mother gets a chem- istry lesson as Action Line de- scribes all the mix ingredients she uses in -baking her cherry cake, Page 2 The weather That old stranger known as the sun may reappear on Friday but its not expected to stay long. Page 2 Index ANTI-SHAH DEMONSTRATORS Participants in a protest against the exiled Shah cf Iran sit on the sidewalk Wednesday outside the New York Hospital-Comell Medical Center, where the 59-year-old former Iranian leader is recovering from surgery (Story on Page 7). UPI EDWARDSBURG A move by several Cass County residents who want their county to secede from Michigan and become a part of Indiana will get encouragement from the chairman of the Cass County Commission. Chairman Kenneth Myers confirmed today he is 100 percent behind the move to secede and predicted when the other commissioners know the facts they will go along with the secession move. Myers would not predict the eventual outcome of the secession but he said the effort is long overdue and he is encouraged by response from citizens.

It is a matter of educating the public now," Myers said. Once the public and the commissioners hear the facts from the research committee that has been set up, I believe there will be enough commission votes to set the secession proposition on the ballot." A group of 13 residents of the Ed-' wardsbtirg area met Tuesday night and formed a committee called the Citizens for Secession to begin the long process to take Cass County out of Michigan and into Indiana. The committee said it informed the offices of Indiana Gov. Otis R. Bowen and Lt Gov.

Robert Orr of its intentions Wednesday morning, and neither had any comment on the matter. Myers said the business climate in Michigan has made it very difficult for businesses in ihexounty-to sur-- Thursday In the nation A $1.35 billion measure aimed at helping poor people pay their home heating bills this winter was at the top of the agenda today in the House of Representatives, less than 24 hours after the plan cleared committee. Page 3 The Federal Trade Commission said Wednesday that the American Medical Association hinders competition by restricting advertising and must rewrite its ethics guidelines. Doctors and medical associations expressed their disapproval. Page 6 The 'former scoutmaster who gained nationwide attention this summer when he set a firearm booby trap that killed a 14-year-old Boy Scout pleaded no contest Wednesday in Miami to a charge of manslaughter Page 8 Jan Leasure, a 30-year-old English teacher at a junior high school in Waukegan, 111., says she has saved $1,400 in the last year by battling inflation with coupons and refunds.

Page 29 and the world State Department officials say tens of thousands of starving Cambodians are flocking to the Thailand border in desperation, with American aid getting through to them only in a trickle Page 4 Nearly 1,909 leftists occupied the labor and economy ministries in El Its Dune Acres vs. Washington vive. He especially found -workmens compensation and the single business tax depressing. Once everyone looks at the figures, sees how industries in Michigan are moving out, they will approve of the action. I know I am 100 per cent behind it If the commission fails to vote to put the resolution on the ballot the group voted to launch a petition drive eeking a referendum.

If the effort succeeds, Cass county population 40,0000 adjacent to the Northern Indiana border, would become Michiana County, Ind. Myers concern was echoed by Dick Christianson, head of the group and an Edwardsburg businessman. He said the Jhe economic.climate in Her own way to whip inflation Salvador and held four Cabinet officials and 130, other persons hostage, demanding higher wages, price controls and the release of political prisoners. Page 7 South Bend Anthony C. Hoskins, 28, of Milwaukee, was charged formally in St.

Joseph Circuit Court today with two counts of murder in connection with the deaths of two women at the South Bend Motel, 3420 S. Michigan. Page 25 Mayor Peter J. Nemeth has vetoed the controversial neighborhood parking bill passed Monday by the city council. Tribune city govern- ment writer Marchmont Kovas has the story Page 2S a state income tax twice as high as Indiana and total reliance on property taxes to fund schools.

Non-urban areas outside Detroit, Lansing and Grand Rapids have been hurt most, he said. This committee is totally discouraged with the economic conditions in the state of Michigan and is intent on secession to the state of Indiana, read a resolution passed at a meeting of 13 residents Tilesday night. Michigan schools are supported totally by property taxes; in Indiana, about half of public school support comes from general tax dollars. The Michigan individual income tax is a flat rate of 4.6 percent of adjusted gross income, compared with 2 per- Mishawaka Utility payments and tax receipts from the University Park Mall and other North Side businesses will turn into a bonanza for Mishawaka, Mayor Margaret H. Prickett said today in a campaign speech.

Page 33 Sports Steve Cichy, the sophomore strong safety on Notre Dames football team, is profiled today by Tribune assistant sports editor Bill Moor in a story on Page 49 All 14 members of the University of South Carolina basketball team have threatened to quit the team if veteran Gamecock coach Frank McGuire is fired, as has been rumored. Page 49 Long-time Starke County rivals Knox and North Judson will fight it out for a state football playoff berth, a conference title and local bragging rights Friday night The Tribunes Jeff Kurowski previews the battle Page 59 Living Today Tribune staff writer Becky Emmons reports on one of South Bends grand old dames that has gone on the sale block the home of the late Judge Elmer Peak that was built as a showplace in 1902 at Jefferson and Sunnyside. Page 21 Advice columnist Ann Landers prints an Army chaplains list of ground rules to- help -strengthen marriages. It's called Creative Fighting. Page 22 gested that other properties could be added to the park.

His suggestion was opposed by Fithian, who knew, the controversy it would stir in his district Nevertheless, Burtons aides quietly conferred with the National Park Service and identified 64 acres in Dune Acres that would give the park service better access to a nearby beach and bog. So, the subcommittee staff rewrote the dunes legislation to include the Dune Acres tract Last Friday, the subcommittee approved the rewritten bill after about five minutes of consideration in which Dune Acres wasnt mentioned. On Wednesday, the House Interior Committee did the same thing. And the full House is expected to repeat the procedure Monday when it takes up the dunes bill Fithian wont attempt to knock out the Dune Acres provision during House proceedings because hes afraid it would be an exercise in futility. Burton is one of the most powerful members of the House and would probably easily beat back attempts to amend the tall, said one Fithian aide.

So the Hoosiers are pinning their Continued on Page 19 By CHARLIE GREEN Indiana News Service WASHINGTON The 350 residents in the tiny northern Indiana community of Dune Acres woke up one day last week and discovered the federal government suddenly wanted to take away part of their town. On Wednesday, two town officials were on Capitol Hill figuring out what to do about it We just feel this could be the beginning of the end of our town, said Robert Hartmann, town board president The story of whats happening to Dune Acres is really a story about how Congress considers and passes legislation. In this case, the bill concerns the Indiana Dunes National Lakeshore. At the beginning of this Congress, Indianas two senators and Rep. Floyd Fithian, joined in introducing a bill that would expand the boundaries of the park, primarily by adding property in Beverly Shores.

There was no mention of Dune Acres in the legislation When the House subcommittee on national parks held a hearing last summer on the bill, its chairman. Rep. Phillip Burton, sug.

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Pages Available:
2,570,126
Years Available:
1873-2019