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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Sept. 7, 1979)
THE BATTALION FRIDAY, SEPTEMBER 7, 1979 Page 13 Wants railroad enhanced Keep train, solon says ompetitive a squire radii on themseli esponsiventj than have s.” :hlO men 'f law, ' he re he Geneniii said ;'ith Nixon a eel he maf >f the monei. Enthusiastic fan on the move Aggies have spirit whether it’s football, beer or country and western dancing, as this car illustrates. xpert says AT&T stock bad buy Battalion photo by Todd Gross n Clementel ausinessmei; n and City. United Press International AUSTIN — Southwestern Bell ilephone Co. Thursday paid a Wall :reet analyst to testify AT&T stock anattractive to investors at Public ounting Oi lility Commission hearings on a tly to Coni quest for a $145 million rate in- er to revie* ease. Bradford L. Peery, financial alyst for Paine Webber Inc. of York, said Southwestern Bell not hire him to testify until after ;an advising investors in April their stock in AT&T, the [beg; [sell : company’s corporate parent. Critics challenged Peery’s argu- nts that Southwestern Bell must ; granted higher rates to make company stock attractive to istors. arnings today are insufReient to AT&T stock to sell above book e, Peery said. Don Butler of Austin, attorney for the Texas Municipal League, and Ray Bessing of Dallas, lawyer for Mi crowave Communications Inc., chal lenged Peery’s economic projections for the phone company’s earnings and stock performance. “Earnings of the Bell system from tolls and every other service are at an all-time high,’ Bessing said. “That’s irrelevant, Peery replied. “Stock prices are at an all time high. The regulatory decision process is the key to the long-term outlook.” The Wall Street analyst said AT&T stock is not a wise investment be cause future increases in phone company earnings are likely to be depressed by inflation, increased competition from firms such as MCI and decisions by regulatory agencies such as the PUC holding down or denying rate increases. The Texas Municipal League’s at torney questioned Peery’s argu ments about the effect of regulatory decisions on phone rates on AT&T stock. “Do you think there are really a lot of people who invest in stock who even know AT&T has a rate case in Texas,’ Butler asked skeptically. “I think there are, Peery replied. Butler said the formula Peery used to calculate the phone company’s need for increased revenue would grant Southwestern Bell high rate increases even if inflation rates were lower. The TML lawyer questioned why stock investors will not look fa vorably at recent increases in AT&T earnings. ickers say it’s farmers’ ’panacea’ ft United Press International UBBOCK — If produced and locally, gasohol could cost 3 less per gallon than gasoline would enrich rural and urban jomiesand provide farmers with ice, gasohol proponents said iday. think this is a panacea that have waited for, for I don’t w many years, said Hep. Kubiak, D-Rockdale. I'The reason I believe that is be- ise they have always needed mething that would be an insur- ceplan for them in the marketing their products.’ Kubiak, known as one of the chief sohol proponents in Texas, deliv- ehkeynote address to more than 0 farmers and guests from eight ites attending a gasohol “know- i\v” conference. “If they (farmers) are assured that ere is a market for their crop, they produce the alcohol,” Kubiak . “They can in lean times, when e markets are lean, produce all of ealcohol that is necessary. In periods when grain prices or eother prices are high, then thev would use only that part of the grain that is necessary and essential for the operation of their farms and then sell the grain at the prices that they are given on the world maket.” Gasohol is a blend of 10 percent denatured alcohol and 90 percent unleaded gasoline, a mixture gasohol proponents say burns more effi ciency than conventional fuel. Kubiak said a minimum of $5 mil lion in funding must be available to allow individual farmers and co operatives to build distilleries capa ble of producing alcohol. main dr NEW LIFE Foursquare Gospel Church meeting at Holiday Inn North Cordially invites you to come and share the Joy of the Lord. Sunday 10:30 A.M. Wade Pickren, Pastor 779-2049 “A charismatic church with a vision” 6:30 P.M. JESUS Was he only a man? Was he really God and man? If he was so good, why did he get such a rotten deal when he lived in Galilee, Judea, and Jerusalem? Why would a pagan Roman soldier watch him die and say he was the Son of God after a pagan judge con demned him after saying he found no fault in him? And before that, why did a voice from heaven say, “This is my beloved Son whom I really approve. Hear him!” Where can we hear His voice today if not in the Bi ble? After all, didn’t he give his approval to all the Old Testament by reading from all parts of it and saying it was perfect? And didn’t he give his authority to the writ ers of the New Testament so it would be an equally perfect writing? If this is God’s Word, shouldn’t we take it more seriously? We really try to at WESTMINSTER PRESBYTERIAN CHURCH in America Donald C. Graham, Minister 9:45 a.m. University Bible Class 11 A.M. Morning Service; Sermon 7 P.M. Evening Sing and Message Meeting temporarily at College Hills Elementary School, Williams St. College Station; opposite TAMU campus, Texas Ave. take Walton Dr. to Francis to Williams or off Texas on Kyle to Gilchrist to Williams. We like to think you’ll be real glad you looked us up! “Growth in the near term will not affect stock prices unless it affects the long-term outlook, Peery said. “It’s really the regulatory policy that will determine what rate of return AT&T will be allowed to earn and not what the near term outlook will be.” Peery said even though South western Bell s business is growing faster than AT&T as a whole the 1 exas operation is riskier because l evenues are not keeping pace with the cost of servicing new customers. United Press International HOUSTON — Rep. Al Edwards stood in the city’s passenger train sta tion, which disuse has dwarfed and shunted into the shadow of a freeway bridge behind the post office, and tried Thursday to stir concern about cancellation of one of two remaining passenger trains to Houston. “We’ve got to demonstrate to the president of the United States to the Department of Transportation, to the boards of Amtrak and other rail roads that passenger trains should be enhanced, not cut back, especially in the southern part of the country,” Edwards, D-Houston, told a news conference. His immediate complaint was the planned Oct. 1 cancellation of the Lone Star, which daily runs a 1,368-mile route between Houston and Chicago with stops at Kansas City, Oklahoma City and Dallas- Fort Worth. Trains on the route carry 30,000 passengers monthly. Houston’s other passenger link is the three-times-a-week Sunset Limited between Los Angeles and New Or leans. Edwards has called a public work shop and rally Saturday at the Uni versity of Houston downtown cam pus and the Amtrak station to start a political drive to save the train. He said he expected representatives from California to Georgia to attend -state gasohol cheaper than gas OVER 1621 Texas Ave. Culpepper Plaza 10-8 Daily, 10-6 Tues. & Sat. NOW OPEN ^oA eC .0^ GT° v e ,1)' , s y- ,0 T G' tV Featuring: SOB. Zena Tom Boy Neat Seat City Girl <x <5V N'est-Ce pas? MANY MORE WE’RE KEEPING OUR LOW, LOW SUMMER PRICES! aii L 9 ® $4.98 I i4ti Lr m EVERY All £rice Tapes LPs ^ $ X) e x? y EVERY DAY For All 8.98 List Price LPs & Tapes HFSF- vfp f f \4 ILP^ *5 9 / Tap' vV and discuss ways of saving passenger trains. “We want to inform those who are interested in learning more about the train,” Edwards said. “We want them also to understand the action provided by the Department of Transportation in cutting back trains in the southern part of the country. This is just one of a series of rallies. ” Joining Edwards at the news con ference were John P. Anderson, dis trict sales manager for the National Railroad Passenger Corp. (Amtrak), and James W. Hofmeister, chairman of the Texas Association of Railroad Passengers. Anderson said he was at tending as an individual interested in passenger trains. “We re here to support Al in his effort to keep train service for Hous ton,” Hofmeister said. “We want to develop train service as an energy efficient form of transportation. ” Edwards said one hope of main taining a north-south passenger link for Houston was a proposed spur tying Houston into the Inter- American route at Temple, Texas. He said DOT has asked the Texas Legislature to fund half the esti mated $5 million cost, an action the Legislature has not yet considered. Anderson said cancellation of the Lone Star — which actually is two trains starting at each end of the run, passing each other en route and completing the trip 24 hours later — will leave only the Sunset Limited serving Houston. One other passenger route will continue through Texas, the thrice-weekly, Chicago-to-Laredo In ter-American. Now save $ 20 to $ 25 on compact coolers. Sale 99.95 was 119.95 Compact refrigerator with 1.7 cubic foot capacity. I8V2 in. wide, 19V2 in. deep, 18 1 /2 in. high. • Separate freezer compartment with two ice cube trays. • Polyurethane foam insulation. • Magnetic door closure. • Steel with baked-enamel white finish. • UL listed for 110-120 volts AC. Reduced from our big Fall ’79 Catalog, pg. 1172. Sale ends October 20, 1979. Sale 154.95 was 179.95 Compact refrigerator with 4.5 cubic-foot capacity. 18 in. wide, 33 1 /2 in. high, 231/4 in. deep. • Woodgrain vinyl top adds counterspace. • Two removable shelves. • Crisper, egg tray and dairy compartment. • Separate freezer compartment with two ice cube trays. • Push-button defrost. • Adjustable temperature control. • Interior light. • Polyurethane foam insulation. • Magnetic door closure. • Steel with baked-enamel white finish. Reduced from our big Fall ’79 Catalog, pg. 1172. Sale ends October 20, 1979. For warranty information, see page 1172 of our big Fall ’79 Catalog. JCPenney Catalog Department Call 779-2687 to place your order. Then pick it up in four to five days. Or come by our Catalog Desk in the Manor East Mall, Bryan. Shopping to Go The new JCPenney Fall and Winter Catalog. Take home a $2* copy now. And, get a $2 merchandise certificate. *Plus applicable sales tax. JCPenney Catalog Department - ' Manor East Mall, Bryan, Texas