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MEMBER FDIC © 1984 FCBOT
Wednesday, December 12, 1984/The Battalion/Page 7
Arkansas prof
creates perfect
Christmas tree
United Press International
FAYETTEVILLE, Ark. — A
Northwest Arkansas professor at
tempting to clone the perfect
Christmas tree said his Yuletide re
search eventually could mean a year-
round cash bonanza to the nation’s
timber industry.
Feng Huang, a professor of plant
genetic engineering at the Univer
sity of Arkansas in Fayetteville, said
the same research used to produce a
thousand copies of a nicely shaped
tree also could be applied to produce
thousands of disease-free trees resis
tant to insect infestation.
“In our area, Scotch Pine is a very
popular Christmas tree,” Huang
said. “But Christmas trees, generally
speaking, vary from the model tree
to the next generation.”
Since 1979, when the native of
Taiwan began teaching at the uni
versity, Huang has spliced, diced
and bombarded Scotch pine seeds,
cuttings and seedlings with varia
tions of light and temperature in his
laboratory. In nearby pots are grow
ing small plants born of his mutant
tree tissues.
“If we can improve the regenera
tion rate, then maybe one day we can
put it in large-scale commercial
propagation,” he said.
Huang said he is trying to uncover
the control mechanisms within the
genes of the trees to determine how
tissues are formed. That is the key to
easier manipulation of the cells, he
said. The work also could lead to
more understanding of how plant
cells work. A future side effect
would be more progress in efforts to
prevent and cure plant diseases, he
said.
Huang said he is the only scientist
in the United States concentrating
his research on Scotch pines, but
that research is under way in Eu
rope, where Scotch pines also are a
favorite Christmas season purchase.
“We’ve lost millions and millions
of dollars because of tree disease,”
he said. Insects have also proved a
costly hazard of the business.
“If we can select individual trees
which are resistant to these diseases
or insect attacks, that would be of
great value,” he said.
Pickens seeks to
control Phillips oil
United Press International
BARTLESVILLE, Okla. — Phil
lips Petroleum Co. Tuesday said that
Texas oilman T. Boone Pickens Jr.
has mounted a public relations cam
paign to win control of the nation’s
10th largest oil company.
The company said that Pickens’
actions violate federal securities
laws.
In the latest round of legal skir
mishes, the Delaware Supreme
Court said it will not hear Phillips’
most recent appeal to block Pickens’
bid until after Dec. 17 when a Dela
ware Chancery Court is scheduled to
hold a hearing on the takeover at
tempt.
In another legal action, Phillips
has filed a lawsUit in federal court in
Delaware to protect its shareholders
from Pickens’ plan to seize a control
ling interest in the company and is
asking $ 10 million in damages.
Pickens and his partners have de
layed their $60-a-share cash tender
offer for 23 million Phillips shares —
or a 21 percent stake — because of
legal uncertainties.
“Pickens has undertaken a system
atic public relations program of
press conferences, public meetings
with securities analysts, and exten
sive television and newspaper inter
views to condition the market in ad
vance of filing of proxy consent
solicitation papers,” Pnillips said.
The company said these actions
by Pickens, the chairman of MeSa
Petroleum Co., violate SEC laws.
Phillips also said Pickens has
failed to disclose past practices of
tipping off friends and Mesa officers
on his plans to acquire stock in major
oil companies.
The community will meet
Wednesday at a “Bartlesville Crisis
Forum,” sponsored by the area
Chamber of Commerce. Residents
are concerned about a takeover since
Phillips is the largest corporate em
ployer in the city and in the state.
Phillips filed a suit late Monday in
the federal court in Delaware, charg
ing Mesa Partners with violations of
the federal securities laws in its at
tempt to buy a majority stake in Phil
lips.
Mesa Partners is comprised of
Pickens’ Mesa Petroleum and Wag
ner & Brown of Midland, Texas.
The partnership already owns 5.7
percent of Phillips.
- The complaint alleges Mesa Part
ners has used its tender offer and
public statements to influence the
market and solicit consent proxies
without filing a proxy statement with
the SEC.
Mesa Partners said the Phillips
suit is “completely without merit”
and designed to stop the group from
making an offer to Phillips share
holders.
The lawsuit also claims that the
proposed takeover would breach an
agreement Mesa Petroleum signed
with General American Oil Co. on
Jan. 6, 1983, in which Pickens
pledged not to buy any GAO shares
for five years.
Last week a state district court
judge in Bartlesville temporarily
barred Mesa from moving ahead
with its bid because of questions sur
rounding the Mesa-GAO pact.
Gulf executives charged
with fraud and conspiracy
United Press International
DALLAS — Six former Gulf Re
sources executives have been in
dicted by a federal grand jury for al
legedly diverting more than $2.4
million from a synthetic fuels com
pany.
The 12-count indictment released
Monday alleges the officials de
frauded investors by falsely rep
resenting that the company could
turn lignite, rubber and garbage into
synthetic oil. The men are charged
with mail and wire fraud and con
spiracy.
Those indicted included Dean B.
Wolzen, the company’s chairman;
Richard A. Ellis, president; and
John D. Robison, an officer in two of
Gulf Resources’ predecessor compa
nies. The three are from Roanoke,
Texas.
Also indicted were Floyd D. Wal
lace, vice president for technical de
velopment, of Leslie, Mich.; William
G. Phaff, vice president for market
ing, of Oklahoma City; and Jerry D.
Eutsler, former president and direc
tor of the company.
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