THE BATTALION Page 7
WEDNESDAY, OCTOBER 23, 1974
^ WEDNESDAY, OCTOBER 23, 1974
Shell Oil reports 158 per cent profit increase
HOUSTON (AP) — Shell Oil Co.
renorted sharp increases in net
earnings Tuesday, attributing them
t0 such major factors as higher
prices for domestic crude oil and
chemical products.
Harry Bridges, president,
cautioned, however, that “extraor-
dinary conditions within the indus-
try the past year continue to
minimize the usefulness of compar
ing the new reports with earlier
periods.
For the three months ending
Sept 30, Shell reported a 158 per
cent increase in earnings. The $216
million or $3.21 a share compared
with $83.6 million or $1.24 a share
the same 1973 quarter.
An 83 per cent increase was re
ported for the first nine months ol
the year. Earnings of $462.3 million
or $6.87 a share compared with
$253.3 million or $3.76 a share a
year earlier.
Bridges said the extraordinary
conditions include inflation, uncer
tain crude oil prices, the influence
of changing federal regulations on
prices, crude oil allocation, and the
timing of recovery of increased raw
material costs under federal regula
tions.
"Earnings in each of the first two
quarters were relatively stable at
$121.8 million and $124.5 million
but third quarter earnings increased
to $216 million, he said.
"While part of this improvement
can be attributed to higher prices
for domestic crude oil and chemi
cals, some of the profit gain was due
to the timing effect of federal regula
tions on revenues and cost recov
ery, resulting in the recording of net
income in the third quarter which
otherwise might have been realized
in the first half.”
Bridges said Shell’s capital spend
ing for the nine months totaled $632
million. He said this exceeded the
net income for the same period by
$170 million and was 60 per cent
>age
Campus briefs
Radio to air nostalgia program
TAMU Radio presents a new evening program tonight.
The show will feature 50’s-type entertainment and airs between 7 and
10p.m. DJ’s for the show will be Bill Looper and Greg Sulak.
' Station manager Jim James said if the show seems to be well received, it
may be continued on a permanent basis.
Book contest deadline approaching
Entry deadline for the 1974 Book Collectors Contest is approaching.
Entries will be taken until Nov. 1.
One or more book collections may be entered in the student contest,
ix $100 awards are key prizes in the contest sponsored by the Friends of the
fLibrary.
Entry forms and information are available at all library service points.
Lon Tinkle, Dallas News book editor-critic and Dr. George F. Carter
-d Dr. Herbert H. Lang of the TAMU faculty will judge the contest.
ACU-I to discuss programming
College union programming will be discussed here Thursday through
aturday.
The Region XII convention of the Association of College Unions-
ntemational (ACU-I) will meet here.
Five hundred or more participants are expected, representing 52 in
stitutions in Texas, Louisiana and Arkansas.
A Thursday banquet will open proceedings, followed by sessions Friday
covering 30 topic areas. They include committee management, leadership,
organization, conducting lecture, film and arts-crafts programs and career
opportunities, among others.
C. Shaw Smith, ACU-I president, will make the keynote address at the
Thursday banquet. Smith is at Davidson (N.C.) College.
Delegates, of which about 20 per cent are unions staff, will be wel
comed by Dr. John Koldus, vice president for student services; Bill Davis,
MSC Council and Directorate president, and John Hoover, conference
director.
e^rg^rier^vo
Lucille tfy'iwlci/ ^PAojifie £
COMPLETE WEDDING SERVICE
Tuxedo Rental
Florist Service: Silk & Fresh
Special Occasion Dresses
Mon-Sat 9:00-5:30
Open late Thursday
407 E. 29th (1 block oft Texas Awe.) 823-8405
S37& ca
ivatek
&
!
m the
ET
iccountl
purctiss'
YCli
:e
idels
VISIT US ... .
We Know About Budgets So Check Our Prices
And Our Quality!
• Foliage Plants
• Dutch Bulbs
• Cushion Mums
• Terrarium Supplies
• Macrame Hangers
• Decorative Pottery
• Shrubs
• African Violets
Sunset-Potpouri Books
bobs,-,
'top qualltyj vwIth/ZprofeMional,' service
monday
otgrday
'822.-6613
transcendental
MEDITATION
ti\ Ituiyltl hv
Xtciluirishi
Mahcsh
Yoi;i
fr&n'sceti den'tsl M^kTi• taction n. l.An effortless mental
technique which produces a clearer, more relaxed mind and
improves health. 2. Easy to learn; practiced only a few
teiflutes morning and evening sitting comfortably with eyes
dosed. 3. A state of rest and relaxation measurably deeper
ihan deep sleep. 4. Develops greater resistance to stress and
tension, reducing nervousness and anxiety. 5. Involves no
change m me style and no acceptance of any philosophy.
Free Introductory Lecture
Wednesday, Oct. 23
4 & 8:00 p.m.
Rm. 226 Library
Students International Meditation Society-646-5097
higher than the same 1973 period.
Additionally, Bridges said. Shell
contributed $94 million of the $126
million Shell and partners bid for 11
offshore Louisiana lease tracts in an
Oct. 16 sale. He said mineral lease
acquisition costs so far this year have
totaled $305 million.
Net production of crude oil and
natural gas liquids was 567,000 bar
rels a day the third quarter and
590,000 barrels a day for nine
months. The comparable year ear
lier averages were 626,000 and
637,000 barrels a day.
Natural gas production averages
of 1.998 billion cubic feet and 2.0
billion cubic feet compared with
2.237 billion for last year’s third
quarter and with 2.326 billion the
first nine months of 1973.
Bridges said Hurricane Carmen
and other offshore operational prob
lems temporarily reduced Sep
tember oil and natural gas liquids
production by 64,000 barrels a day
and natural gas production by 124
million cubic feet a day.
Shell’s refineries processed
1.034.000 barrels of crude a day in
the third quarter and 1,021,000 a
day the first nine months. Compar
able year earlier averages were
1.086.000 and 1,077,000 barrels a
day.
Beef-up
your budget with
FedMart savings
Food budgeting is becoming an ev
eryday concern with today’s rising
costs. No wonder FedMart shoppers
appreciate the savings they find on
USDA choice beef cuts.
The savings and the quality are two
things a FedMart shopper can count
on day-in and day-out to beef-up
their budget. Today, that’s a very
nice thing to be able to say.
Beef Loin
T-Bone Steak
$1.65 lb.
Extra Lean
Ground Beef
99<t lb.
Beef Round Steak $1.451b.
Save on USDA Choice Beef Cuts at FedMart
Ground Beef, Regular
690 ib
Rump Roast, Beef Round
$1.19 lb.
Sirloin Steak, Beef Loin
$1.39 ib.
Pork Rib Chops, Center Cut
$1.49 ib.
Tip Steak, Beef Round
$1.59 ib.
Fryer Breasts, Ribs Attached
79C ib.
Beef loin
Pork loin
Beef Porterhouse Steak
$1.69 ib.
Countrystyle Spareribs
990 ib.
We Gladly Accept U.S. Food Stamps
The Consumer’s Friend Since 1954
FedMart
Family Savings Centers
701 University Drive East (at Tarrow St.), College Station
STORE HOURS: M-F 10:30 - ft00 SAT. 9:30 - 6:00 SUN. CLOSED