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Oil profits rise
75 per cent
NEW YORK (/P)—Leading off
a week of oil industry reports,
two of the major oil companies
announced on Monday first-
quarter profits were more than 75
per cent higher than a year earlier.
Both companies said overseas
operations were responsible for
much of the jump.
Gulf Oil Corp., one of the
country’s top five oil firms in
terms of sales, said its earnings
for the first three months of this
year totaled $290 million, 76 per
cent over the $165 million re
ported for the same period of
1973, and 26 per cent over the
$230 million in the final quarter
of last year.
Standard Oil of Indiana and
Amoco, which is ranked in the
top 10 by sales, reported earn
ings of $219 million for the first
quarter, up 81 per cent from
Che Battalion
both the $121.1 million in the
first quarter of 1973 and the
$121 million reported in the last
three months of last year.
The company reported overall
revenue of $2.28 billion after
revenues of $1.47 billion in the
first quarter of 1973, an increase
of 55 per cent.
Gulf Chairman B. R. Dorsey
said even higher profits may be
required in the future to en-
Tuesday, April 23, 1974
courage exploration and develop
ment of new oil sources.
“In light of the tremendous
task ahead of us, present profit
levels must be maintained,” Dor
sey said. “Indeed, they may be
insufficient to our capital needs.”
Worldwide revenues for Gulf
rose to $4.52 billion for the
quarter, as against $2.1 billion
last year, a 125 per cent increase,
the company said.
Other major oil companies are
expected to announce their earn
ing this week, earings that
some security analysts are pre
dicting will be 50 per cent to
100 per cent above year-earlier
levels.
Also announcing earnings Mon
day was Ashland Oil, which said
its profits for the first quarter
were $19.4 million, or 22 per cent
above the $15.9 million reported
last year. The first-quarter earn
ings were down 44 per cent from
the $34.4 million profits in the
final quarter of last year.
Ashland’s sales equalled $672.6
million, compared with $439 mil
lion in the first three months of
1973. The company ranks 15th
in sales.
The latest profit figure follow
strong gains in the last quarter
of 1973 and seem guaranteed to
renew debate in Congress over
some form of a windfall profits
bill for the oil industry.
Though a few smaller com
panies have already declared
their latest earnings, the big
firms, including Exxon, Mobil,
Texaco, Standard Oil of Cali
fornia and Shell Oil, are to report
this week.
Energy officials have already
predicted that first-quarter oil
profits will be “embarrassingly
hig-h” or “whoppers.” Sen. Henry
Jackson, D-Wash., has said
they’ll be “almost obscene.”
MSC Council
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Military Quadrant as part of the weekend’s activities. (Photo by Alan Killingsworth)
By MARY RUSSO
The acceptance of Mexican
American interests and allocations
of funds marked the first meet
ing of the 25th Memorial Student
Center Council.
In a move to bring the Mexi
can American culture into the
focus of the MSC, the Mexican
American Student Organization
filed for Admittance into the Di
rectorate after a year of trial run.
On $50 from Exchange Store
allocations the group brought
two speakers and helped sponsor
a reception after the Folklorico de
Mexico.
“In consideration of program
ming,” said John Nelson, director
ate representative to the council,
“division of the number of dol
lars spent by the number of peo
pie attending will illustrate the
effectiveness of funding. If they
had 50 people attend and spent
$50 dollars, then it’s pretty good
programming.”
The Mexican American group
will become a full MSC committee
upon the election of a chairman
by the council.
The MSC also allocated funds
with a number of cut backs to
insure enough money to start a
couple new committees plus han
dle a few older ones.
Outdoor Recreation took the
biggest cut in their request as
their hopes for backpacks,
frames, tents and sleeping bags
were rolled up and put away for
another year. The group ended up
with $803.
The Radio Committee took a
substantial cut in funds as they
were unable to justify a $400 re
quest for general supplies. The
committee received $876 of $995
requested.
The Arts Committee took the
cut of one program, leaving the
group with nine programs in-
Thompson
speaks on
Watergate
Thursday
Fred D. Thompson, chief minor
ity counsel for the Watergate
Committee, will speak at 12:30
p.m. Thursday.
Thompson, who has served as
federal prosecuter in Tennessee,
will speak on “Watergate: A
Cause for Optimism?”
He resigned from his Assistant
U. S. Attorney position in 1972 to
return to private practice in Nash
ville and manage the mid-Tennes
see re-election campaigning of
Senator Howard Baker. Baker, in
turn, appointed Thompson to the
minority counsel post. In this
position Thompson found, “All
your endurance, intellegence, wit
and knowledge are put into the
committee hearings. It tests you
to the fullest. Think of the ram
ifications; we’re dealing with the
President daily.”
Thompson will speak in Rooms
225 and 226 of the Memorial Stu
dent Center. Student admission is
free, non-student admission is 50
cents. This program is a part of
the Political Forum noon speaker
series.
Political Forum is a function of
the MSC. This committee
deals strictly with the presenta
tion of political speakers and has
brought such people as “Sissy”
Farenthold, Lynn Ashby, Buck
Woods, and Eddie Bernice John
son.
Today ^ Texas politics warming up
City council
SWC tennis
p. 3
p. 5
Weather
Partly cloudy to clear iji;
Tuesday with a high of |:
83°. Low tonight 63°. S:
Mostly cloudy Wednesday Si
morning becoming partly li-i
cloudy to clear in the af- jiji
ternoon. High Wednes- iji:
day 85° :£
By The Associated Press
Gov. Dolph Briscoe campaigned
in Fort Worth and Dallas Mon
day while his primary opponent,
Democrat Frances Farenthold,
filed a tax return in Austin and
criticized Briscoe for not doing
the same.
The two GOP candidates for
governor, Jim Cranberry and
Odell McBrayer, were also in
Fort Worth at a session with a
Republican Women’s Club.
Briscoe talked with editorial
boards of the Fort Worth Star-
Telegram and Fort Worth Press
and went on a walking tour of
Eberhard to set
Senate guidelines
The goals and guidelines for the
Senate next year will be set in a
speech by Steve Eberhard, student
government president, Wednes
day.
The president of the student
government is required to set aims
for the coming year in legislation
each year. Eberhard has chosen
to give his address at the meeting
this week at 7:30 p.m. in Room 701
of the Rudder Tower.
The Student Publications Board
resolution will also be up for
second reading and a vote. The
resolution calls for the censuring
of the Publications Board for the
firing of Steve Goble as managing
editor of The Battalion.
The basis for the censuring of
the board, according to the resolu
tion, is that they did not act in the
best interest of the student body
by not allowing time for the train
ing of a person to take the place
of the managing editor.
University committee appoint
ments suggested by Eberhard
must be approved by two-thirds
of the Senate before they may
be passed to to President Jack
Williams for final approval.
Dr. Morgan
dies Sunday
MIDLAND, Mich.—Funeral
services are pending for Dr.
David Morgan, a former presi
dent of Texas A&M University
who died Sunday of a heart at
tack in St. Petersburg, Fla.
Dr. Morgan, 65, was college
relations director for Dow
Chemical Co. in Midland until
he retired in January after 17
years with the company.
After leaving Dow, he was
named director of development
at Northwood Institute and ex
ecutive director of develop
ment at Midland Macromole-
cular Institute in Midland.
Dr. Morgan headed Texas
A&M from 1953 to 1956.
downtown Dallas.
“I got a very warm reaction
and I feel the walk was very
successful,” Briscoe said of the
Dallas visit.
Cranberry meanwhile charged
Briscoe with confusing school of
ficials by refusing to call a spe
cial legislative session for school
financing.
“This lack of leadership is pre
venting school officials for plan
ning their future needs,” Gran-
berry said. “Rising costs have
forced many districts to raise
taxes or reduce essential pro
grams, and state assistance is
needed badly.”
Mrs. Farenthold was in Hous
ton but her headquarters filed a
report on her income tax returns
with the secretary of state in
Austin. The return showed she
and her husband paid taxes of
$40,375 on income of $107,623 in
1973. The report showed she re
ceived $31,005 in lecture fees, be
fore deducting $8,000 expenses,
during the year.
Mrs. Farenthold issued a state
ment saying she could not under
stand why Briscoe or any candi
date could refuse to make public
his income tax return.
Briscoe filed a financial disclo
sure statement, earlier as requir
ed by state law, but said he
would not file a copy of his in
come tax return.
He told newsmen he did not
know his net worth. Briscoe has
vast land holdings as well as nu
merous banking interests.
Bob Bullock, Democratic can
didate for comptroller, told Rio
Grande Valley voters that Texas
cities are losing thousands of
dollars because local sales taxes
paid by shoppers at Christmas
are not refunded to cities until
late March.
“The situation is so ridiculous
that at least one major city
spends money to fly a man to
Austin to wait around and pick
up the city’s check when it is
finally ready,” Bullock said.
stead of ten. The committee end
ed up with allocations of $6,161.
The Camera Committee got
some money back as Jane Logan,
vice-president of programs, went
to bat for the committee.
“The committee serves as a
selling point for A&M,” said Lo
gan. “Although Camera isn’t as
famous as the Singing Cadets x>r
infamous as the football team,
the good judging that the group
has been able to recruit has been
a strong drawing point. Three
hundred prints in this year’s sa
lon testify to this.”
With this and other comments,
$70 was added to the recommend
ed funds, the committee ended
up with $995 in council funds.
Free University was the next
to feel the ax as the advertise
ment and public relations re
quests were sliced away from
their request. A user fee for non
students was recommended to be
studied by the committee. In the
meantime, $300 was cut.
Black Awareness Committee’s
budget was left unconsidered as
it lacked the authorization of a
chief advisor. Recreation Commit
tee also went unapproved as it
has no chairman to file a budget.
The final amount that was left
in the hands of the council and
directorate is $3,126. Most of this
money will be distributed to Black
Awareness, Recreation, Mexican
American, and two possible new
committees.
Other council business included
a by-law amendment which limits
the executive committee to the
president, the three vice-presi
dents, a former student, a faculty
advisor and the secretary/treas
urer of the council.
Local candidates
come to campus
The Young Democrats will
sponsor a “Hear the Candidates,”
featuring local candidates for
£3tate Representative. Sparkey
Hardee, a local business man,
Lloyd Joyce, Bryan City Council
man, and incumbent Bill Presnal.
The meeting will be in Room
301 of the Rudder Tower at 7:30
p.m. Wednesday.
“This will be the first time these
candidates have met each other
face to face,” said Dale Foster,
President of YD’s. The format of
the program will present each
candidate for a 10 to 15 minute
speech. A question and answer
period will follow with Dr. Claude
Davis moderating.
“The primary purpose is to in
form student voters on the issues
affecting them locally,” Foster
concluded.
Panel learns
can override
president
Rules &
Regs
By CLIFF LEWIS
In a panel discussion sponsored
by the TAMU Student Civil Lib
erties Union on censorship Mon
day night educational standards
were defined and the president of
the university was said to have
the power to override university
rules and regulations. An audi
ence of 35 listened in on the dis
cussion.
The rules and regulations state
that “neither the Director of Stu
dent Publications nor the Student
Publications Board shall deter
mine the content of publications.”
Koldus was asked by John Nash
University National Bank
"On the side of Texas A&M.”
Adv.
who the rules and regulations ap
ply to. “It says it’s for the stu
dent,” Koldus answered, and said
the president has final authority
over all rules.
The panel consisted of Lane
Stephenson, associate director of
University Information; Tom
Taylor, executive director of the
Student Senate; Mike Perrin, new
president of the SCLU and mem
ber of the judicial board; Rod
Speer, editor of The Battalion;
Dr. J. J. Koldus, vice president of
Student Services; Tim Manning,
ex-chairman of the Arts Films
subcommittee and Don Webb, ex
president of the Memorial Stu
dent Center Council and Direc
torate.
Marty Hokanson, ex-president
of the SCLU, presented the panel
with three questions. One, who
should have the authority on pro
gramming? Two, is there a need
for an administrative official to
have authority on the content of
The Battalion? Three, did Dr.
Koldus make the right decision
in refusing the ACLU the right
to show the film, “Pink Fla
mingos,” on campus ? He pre
sented the third question first to
Koldus.
“Yes,” answered Koldus sim
ply, “in terms of its content and
quality. I am vested with the re
sponsibility of all student organi
zations,” he continued, so it was
his decision to ban the film. Speer
presented the point that the film
was banned because it was moral
ly objectionable, and Koldus
agreed.
A discussion of who should de
termine moral standards ended
with Manning asking who the
university is defined to be. Koldus
said an educational institution is
autocratic, not democratic, and
Webb added that the university
is not the free community defined
in the constitution and its stan
dards can be set.
“I’d think that after the stu
dents had seen “Pink Flamingos”
they’d be glad to have the MSC
control programming,” said
Webb.
The first question was intro
duced, and Speer asked if all films
MARK SCOTT played one of the henchmen in a smuggling ring. Allellia Worral played Suzy
were to be reviewed by Koldus. Hendrix, the blind girl caught up in the plot. The Aggie Players presented “Wait Until
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Dark” in the Rudder Center Forum over the weekend. (Photo by David Spencer)
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