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Show The National Enterprise , November 3 , 1976 Page two Alton Box Will Junk Unprofitable Machine ALTON, 111. The company now has six paperboard machines in operation; three in Alton, and three located in Georgia, Florida, and Indiana. A spokesman for the company said Alton Box Board recently replaced a paperboard machine in Jackson, Florida at a cost of $16 million for the machine and an additional $21 million company said. And in addition, management felt it was uneconomical to spend the capital required to bring the machine into compliance with Alton Box Board Co. (OTC 16.00, 17.00) has announced that it will phase out of production one of four paperboard machines at its mill in Alton, Illinois. The old unit can't any longer economically produce paperboard of the quality required by its customers, the state of Illinois' environmental The machine regulations. accounted for about 10 percent of the Alton mills total 65-ye- ar for environmental control A paperboard equipment. machine, he explained, processes basic raw paper. From the paperboard, Alton Box Board manufactures, corruprovision. gated shipping containers, A spokesman wouldnt folded cartons for consumer estimate the per share value of products, and paper tubes the higher provision but he used in the textile and connoted that on an after tax basis struction industries. The it would amount to about half 48 company operates plants of the $325,000. the and throughout The company said that Southern states. using guidelines suggested by The spokesman said since the Customs Service it had each paperboard machine is determined that the unpaid as a separate profit duties owed total about operated center, the company actually $365,000. It said the results of expects earnings will improve its investigation will be once the Alton audited by the Customs Ser- machine is unprofitable closed down. For vice for accuracy. the fiscal year 1975, the It also said that its total company earned $7,086,000 or ultimate liability resulting $3.02 per share on revenues of from a pending investigation The company $195,489,000. by the Service could be sub- has 2,347,392 shares stantially in excess of the unpaid duties. Tony Lama Increases Customs Duty Provisions EL PASO Tony Lama Co. (OTC 4.50, 4.875) said it has increased its provision for estimated unpaid custom duties by $325,000 before taxes as a result of an internal investigation of the amount of unpaid duties it owes the U.S. Custom Service in connection with imports of cowboy boot components from Mexico. The investigation covers a period from July 1970 to July 1976. The company previously had provided $20,000 or about 1 cent a share after taxes for the provision. A spokesman said it will have to revise its previously reported earnings for the year ended July 31 to reflect the addition to the Mid-We- st Researchers Find Strategic Medical Drug Effective CHICAGO A drug patented by Strategic Medical Research Inc. (OTC .45, .55) has been found by researchers Dr. Paul Gordon, consultant director of research of Strategic Medical Research, who is a of the paper. Frank Nelson, president to modulate cellular immunity which is important as a de- of Strategic Medical Research, fense against virus diseases. reported that several major In a paper delivered to United States and foreign the sixteenth interscience con- pharmaceutical firms have ference on antimicrobial approached the company to agents and chemotherapy of use the drug in diverse areas the American Society of of research. Dr. Majde noted that SM Microbiology, researchers said the drug, SM 1213, may 1213 is definitively, a new c be effective in helping to fight agent that exhibits a insuch diseases as Herpes striking capacity to enhance fections, including venereal cellular immunity, one of the disease, influenza and hepa- major natural defenses against titis. Related research .sug- viral disease. SM 1213 stimulates celgests that the drug has characteristics that would be effec- lular immunity most intensely tive against rheumatoid ar- under stressful environmental conditions, he said. This may thritis and cancer. The paper was delivered be important because stress has been found to depress by Dr. J. A. Majde, a microbiologist at the office of Naval protective immune responses Research in Chicago and ad- and to activate certain human junct assistant professor of Herpes virus diseases and microbiology at Loyola Uni- recurrence of rheumatoid versity Stritch School of Medi- arthritis. Research has shown that the drug modulates imcine. The drug was developed by munity in the body. co-auth- or non-toxi- Oceanic Teams with Philippine Firm in Exploration Venture DENVER Oceanic Exploration Co. (OTC 4.25, 4.75) has formed a joint venture with Jabpract Mining and Industrial Corp of the Phil-lipin- es to explore petroleum exploration concession No. 441 located off the western coast of the island of Palawan in the Philippines. According to Norman Singer, senior vice president, Oceanic will be the operator and will hold a 75 percent interest in the 183,228 acre ember and then formulate their drilling plans. Oceanics primary property is located off the coast of and properties located in the British North Sea; Cameron, West Africa; the Peruvian Oreinte; Malaysia, Greece in the Prinou field and Tiemore. where they held a 68 percent In 1975 the company reinterest in the area. Last June corded a loss of $3.7 million they sold the concession to dollars or 54 cents a share on Denison Mines of Canada for revenues of $3.2 million. For $25 million, retaining a 15 the previous year. Oceanic earned a profit of $1.2 million percent net profits interest. The company also holds or 18 cents a share from revenues of $4.9 million. varying interests in off-sho-re Gasoline expensive and in short supply. So it's important to conserve every possible drop of this precious fuel. That's where we come in! Vice president of explora- were going to reprocess seismic records of the area already taken by JINICO. Well run them back through the computer and massage the information to determine potential drilling locations." He said Oceanic will begin shooting seismic lines in late November through mid-De- c Americas Automobiles on the Road on-sho- re area. tion Jack Zahn said the company will be drilling near a discovery well belonging to Husky Oil and Cities Service where production was encountered in the Miocene and Cretaceous sands. Oceanic is negotiating a trade with Phillips Petroleum now for an exchange of seismic and well information gathered by Phillips in its surrounding lease blocks. Right now, Zahn said, Were Helping Keep is We insulate petroleum storage and transport facilities to help prevent heat loss caused by high temperatures. Insulation of pipe lines and storage tanks makes them safer too! Subscriptions $24.00 per year 50 Cents Per Copy Tht Notional Enterprise is published weekly by the National Enterprise Publishing Company, Inc, 500 Continental lank Bldg., P.0, las 1 1 771, Pioneer Station, Salt lake City, Utah 14147. (101) 6 533-055- Second Clou Postage Paid n Salt lake City. Utah R. George Gregersen Publisher Alone E. Bentley Editor We re also involved in insulation projects to help protect petroleproducts from extreme temperatures on the other end of the scale. We have insulated instruments for the newly developing oil in the North Sea where program temperatures reach 50 degrees um -- There are many ways to conserve gasoline. Driving at slower and speeds keeping your automobile tuned up are a couple of them. This is how you can help. Insulation of petroleum facilities is another way. And that's the business were're in. RyanB. Poultr t Business Mane jer Mary McMillan Gaber Doan Alsup Staff Reporters Peter Harrison Operations Manager SALT LAKE HOUSTON |