THE BATTALION
FRIDAY, SEPTEMBER 7, 1979
Page 13
Wants railroad enhanced
Keep train, solon says
ompetitive a
squire radii
on themseli
esponsiventj
than have
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: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
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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