Northwest Arkansas Times from Fayetteville, Arkansas on April 24, 1974 · Page 6
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 6

Fayetteville, Arkansas
Issue Date:
Wednesday, April 24, 1974
Page 6
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· f) NoriftwMT ArkanMi TIMES, Wtd., April 24, 1974 FAYITT1VILL1, ARKAHlAt ' Citizens Ponder Fate Of Shoreline Phantom Greek, Aristotle Onassis, Wants A Refinery EDITOR'S NOTE: Tho public record discloses little about Olympic Refineries Inc., an Aristotle Onassis corporation looking (or a place to build a $600 million oil refinery. Hero, In the first of a four-part series, ii the story of the corporation. By MICHAEL PUTZEL CONCORD, N.H. (AP) Olympic Refineries Inc., a com- ptny with $150,000 in known assets, has plans for a $600 million oil refinery -- but so far, Asked about an Olympic refinery project in Nova Scolia, a Canadian official said, "It's never gone beyond the rumor stage" and that no Olympic official has ever contacted Hie government directly. When First National City Bank was asked for the financial references, a spokesman said: "We haven't been authorized to give out any information on Mr. Onassis or his com- pany. Olympic spokesmen now say the company was registered for several years in Monte C;irlo but never built anything. It reportedly was Onassis' vctiicle for negotiating a refinery agreement the Greek government, a deal that eventually fell through. On Feb. 26, in the midst of a public relations d r i v e seeking support for the Durham refine- ry proposal, Olympic filed papers of incorporation with the New Hampshire secretary of slate's office. Those papers show that Olympic Kcfineries Inc. has a brand charier to do business in New Hampshire. There arc four officers, three directors and 4,020,000 shares of no-par- Viiluc common stock. The officers are Gralsos, president; Nicholas F, Papani- colaou of New York, a 25-yoar- old Ouiissis protege, vice president and treasurer; Thomas R. Lincoln of Greenwich, Conn., secretary; and David C. Hamblett of Nashua. N.U., clerk, Grntsos, Pupanlcolfiou and Lincoln are named as directors. The records show that 3,000 shares of stock were sold to an unnamed investor for 550 a share, indicating the company received $150,000 tor the only no plic* to build it. After being barred from its first-choice site by the voters of Durham, N.H., Olympic decided to wait for another town near New Hampshire's 18-mile Atlantic coastline to invite the company in. Newmarket, just to the south of Durham, voted last week in favor of the refinery, and the company went back to the drawing board to develop a proposal that would fit there. Rochester, inland and to the north, is to vote May 1 on whether to approve refinery construction there. Olympic is an Aristotle Onassis corporation, although public records don't show the role of the Greek shipping magnate. The refinery plan has the support of New Hampshire's governor and largest newspaper, but virtually no information is available about its resources or plans. There are indications Onassis is determined to build an oil refinery, if not in New Hampshire then perhaps in Rhode Island or Louisiana. "It's like fighting a phantom," said John Gibson, a spokesman for Save Our Shores, a citizens' group opposing the refinery. "They make itatements and deny them the next day. They make promises and break them. Sometimes you don't even know who they' tit." Constantine G. Gratsos, presi- 4ent of Olympic Refineries, is the chief representative of Onassis interests in New York. HANGS UP In * recent telephone interview, Gratsos said Onassis has wanted to build an oil refinery for several years, that the shipping magnate is sole owner of Olympic Refineries stock and that financial information about the company is not available. Then he hung up. The first inkling of Olympic's activities came last October when a seacoast community weekly, Publick Occurrences, carried a report that land buying was under way on Durham Point. The story mentioned rumors that an oil refinery was planning to locate on the site. A month later, however, the newspaper quoted George Pap- pademas, a Nashua real estate broker, as saying he was buying up options on more than 1,000 acres of rural land in the sleepy college town of Durham for his own investment, a game preserve for friends in Keene, N.H., and possibly a family compound. It later turned out that Pap- paderaas, George Stamatelos of Keene and at least one other real estate man were offering top dollar for the options on behalf of a fellow Greek-American, Peter J. Booras. a gret- ing-card manufacturer and friend of Gratsos. On Nov. 27, Booras, Pappa- demas and three consulting engineers met with Gov. Meldrim Thomson in the State House The governor then joined Booras at a news conference to anounce Olympic's plans to build a refinery on the optioned land. Booras was identified as i spokesman for Olympic. The press release said "Olympic is an Internationa company and has recently obtained a permit to build a re finery in Nova Scotia. Financia references are available from the First National City Bank o New York." Onassis wasn't mentioned. stock outstanding. DOES NOT APPEAR The name Onassis does not appear anywhere in the documents on file. None of tile officers or directors Is a full-time employe of Olympic. The company's only paid personnel in New Hampshire, according to a spokesman, are two writers and four secretaries who staff the Olympic offices in Concord and Do vor. Tho company, which snys It has spent nearly $2 million on feasibility studies, plans and promotion, had anticipated little serious opposition n f t e r gaining the 'support of Gov. Thomson mid publisher William Loeb of the Manchester Union Lender. But the voters in Durham said they didn't want the refinery, and despite intensive lobbying e f f o r t s , Ins «l»l« legislature refused to override that local veto power. Papanlcolaou l a t e r complained to a reporter that refinery opponents "callj'1 .'" l i a r s . gangsters, M n f i a , everything in the book. "We want to build " refinery worth millions to the slate, said Gratsos, "and we yo been insulted from the very first day we arrived." Key Changes Asked In Benefits Measure WASHINGTON (AP) -- Th Nixon administration want Congress to make key change In unemployment compensatio laws and to set up a special $ billion program of benefits fo people out of work during til energy shortage. The administration's job se curity assistance bill would re quire states to provide an el gible person a weekly henef amount of at least half the a' erage weekly wage up to state maximum of at least Iwc thirds of the state's averag weekly wage for covered wor! ers. Presently federal law doe not force states to provide min imum benefit levels. The administration's bill alf would extend coverage i unemployment benefits to aboi 635.000 f a r m workers, involvin those employed by large agr cultural enterprises. In addition, unemploymer benefits could not be paid strikers but must he paid otherwise eligible people wl »r* out of work because of I bor disputes and are found b the states to be innocent b slanders. Navy Charged WASHINGTON (AP) -- Th Navy has been accused of "hi' ing at least $2.8 billion" th: would boost the cost of the ne Trident submarine and relate missll* development. LONG TAPES... LOWER TOTAL All Beef at Everyday Discount Prices! Dillon's . Bone In ···k DISCOUHl PRIClD..heiyday · ^M _ · Round Steak tender'n tasty M M Pot Roast Diiioni ** dMotu " Chuck Super-Trim Beef (Bonelesi)lb. Super-Trlm Beef Loin Sirloin Steak Dillons Aged Mature i Super-TrlmBeef(LargeEnd),, Dillon* Aged Mature $ V Super-Trim Beef Round Boneless ................. Ib. I · Cubed Steaks Super-Trim B IHteVfeA B^^fcAWefiA Dillons Aged Mature O*eB' rUW ·mlifHZVT Super-Trim Beef Chuck 7-Bone Ib. O Tf SWft»a»K!ftKSl»5« Dillon's ,, 0 W 0|r DISCOUNT PRICED · vJrflv ..Everyday tnsh, NoHessTho 70% lean-Any Size Shurfine Waffle Syrup Stokely's Whole Kernel or Cream Style 32 oz. Bottle R£ g ULAR Golden Corn 3 17 oz. Cans For Only REGULAR 2tt FOR LIMITED TIME' 1.' Texas Buttermilk or Homestyle Biscuits c Reg.25c Shurfresh ·-·· Cinnamon Rolls 30' Reg.34c Groom Clean .Dillon's Supr-Trim Pork ,, .,,,, (V.PorVLoin). »e««i ID. Assorted Chops Loin Center Chops ^±!±:± ... Ib . $ 1.39 Loin Chops ^±rTM:. , b . $ 1.49 Country Style Ribs ?±± s .r. T :. i . 1 :. , b . 95 e (PorkSreak) Shoulder Blade Steak p:":r:r± , b . 99* f Bone less, Waste Fr*«) Blade Boston Roast ^:^'' lb . $ 1.09 4.5-oz. Tube Rea.$l.Q9 _ FRESH Cinnamon Rolls Everyday Discount Prices! Grade A Whole Fryers fljBUJl.Bli. Western Brand Thick eWIVlWB orThlnSliced 2lfa.Pkfl. · ranKS Wlltencartmed T2, Wafer Sliced Meats gsasr. » Smoked Ham .th.' Eight delicious'Sweel Rolls made with lots uf cinnamon and sugar anil lopped with vanilla J flavored icing. ---- * PACK REGULAR PRICE 51e Moisture Added Shank Portion Lb.l Rump Portion Lf, t Center Slice Lb. German Chocolate Cake -*l.2» fresh , . j v . Wheat Pullman MADE WITH PURE VEGETABLE SHORTENING FOR THAT THIN OR EXTRA THIN SLICE. Jt/ST REACH FOR DILLON'S SANDY/ICH BREAD. jf^ Th»~Compl«ie f ·mlfyTM^^ RECIPE CARD COLLECTION RECIPE FILE BOX Mower Garden nub Kidvimi NOW AVAILABLE AT DILLONS BOOK K»ww»r% jj This week get Oiapler 4 39* Everyday Discount Prices! 11H' tn'Mif it r ififit)i|ttTili *fkh't'r«I^TllH|ill| nut ixjuimrn --, nff i"r . o9 DULWIJPAY 3* EACH TIME WE RE-USE IT FOR . YOUR ORPER/ Danish Apple Rolls 60 Angel Feed Cake. 89* ··* w^rwiwsji ,,,,.,,.,,,,,,,,, ,, i,.,.,,..,

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