OCR Text |
Show National Enterprise, March 17, 1976 Projects Sales continued from page 9 California. Under the agreement, the chemicals would be marketed by Agrico under the Environmental Protection Agency label registrations and trademarks of Western United Resources, Mozer said. Mozer commented that the Williams Companies were ranked ninth in growth and first in return to investors among the Fortune 500 companies during the past 10 years. We believed that this arrangement with Agrico will enable our company to rapidly expand its market base throughout the nation," he said. The past year, according to Mozer, was an expansion year for the company. It bought a new plant site at Palacios, Tex., and has started construction. The plant has access to international waters and can provide a shipping point for foreign trade. The plant is scheduled for completion this March, according to Mozer. The firm also bought the plant in Fillmore, Calif., late Page Eleven Antares Rebounds from Loss continued from page 5 company retaining a participating interest in any successful Rhode Ranch prospect, was cubic feet of gas in the drilled to a total depth of 1 ,854 prospect. feet and returned production Although Antares now has from 19 efforts. three sands totaling drilling an interest only in 640 acres, it Porter told the stockholders feet. Antares 75-Ltd., a is trying to acquire another that the company had raised a partnership in which Antares 1,320 acres within the same small fund of $215,000 by is the general partner, owns prospect in adjacent leases. Potential reserv es of natural private placement of partner- 33 percent of the gas well. ' The natural gas from the gas in the area. Porter said, ship interests and the well now is economically feacompany planned to continue have ranged as high as seven sible to market intraat the to billion cubic feet. raising money that way attract public capital to the state rates in Texas, now at If thats the case," he a around $2 cubic thousand companys projects. added, weve made Antares ' During the 1976 fiscal year, feet. and its partners a lot of on the money." he said, the company plans to Geological reports raise some $1 million through area in which the well lies, Drilling Plans the sale of partnerships. Much Porter explained, show that Several wells will be drilled however, will depend on the there is at least two billion initial partnerships. If they are A successful, he explained, they will help sell future partner- Kings Table Reports Increased Dividend ships. If they are unsuccessful partnerships in the future will EUGENE, Ore. be harder to sell. W. Houmes, president of The company has an apparInternational ent discovery well in the H.C. Kings Table, 1 in McMullen (OTC Inc., No. 5.76, 6.25) has Ederington announced that the Board of County, Texas. That well, on the companys Directors declared a semiannual cash dividend of 4.5 cents per share. The dividend, payable by April 15 to stockSALT LAKE Alta Indusholders of record March 15, tries Corporation (OTC 6.00, 1976, represents a 12.5 6.50) has declared a regular percent dividend increase over quartely cash dividend of five the dividend paid in Novem-ve- r of 1975. (5cents) cents per share. Sam in 1975. W. Sou vail, President of the In addition to the purAccording to Houmes,' chases, Colorado International Salt Lake City, Utah, based the increased dividend is Corp., a subsidiary of W estern wholesale distributing com- based upon the improved United Resources, has ex- pany, said the dividend pay- earnings performance of the panded the original plant in ment will be made to share- company. Earnings for the' period were 20 cents Commerce City and has open- holders of record March 20, half-yea-r ed new sales offices in this 1976, and will be paid on April per share, up 23 percent from last year, while revenues for 1, 1976. country and in Puerto Rico. Alta Dividend during fiscal 1976 for the firms corporate accounts and much of that drilling probably will be done in Kentucky, where, according to Porter, the company is encouraged by its prospects. Corporate revenues should continue to increase, Porter told the shareholders and the company will continue drilling mainly in south Texas and in western Kentucky. Wells in those areas can be drilled at relatively shallow depths. Antares also plans more involvement in drilling in the Rocky Mountain area, according to Porter. Plans for 1976 also call for a reduction in the firms acreage inventories. At the end of the past fiscal r the were period year. Porter explained, the a 14 $5,582,000, percent firm had interests in 6,150 increase over the comparable producing acres and 89,202 period a year ago. nonproducing acres. It had half-yea- IKT is an Oregon-basesmorgasbord chain operating d 28 and 22 in thir- company-controlle- d franchised restaurants teen states. Two company-owne- d restaurants and one franchised operation are under construction. In addition, the company is currently negotiating additional sites for continued expansion. Houmes stated that during the present third quarter, IKT has been experiencing a favorable profit margin and is confident that it will end the year with record earnings. overriding royalty interest equal to 114,363 net royalty acres. Proven developed reserves of oil for the company are estimated at 27,500 barrels and gas reserves were esti- mated at 18,750 barrels, according to Porter. Shareholders at the annual meeting, voting by proxy, all four members of the board of directors and approved the selection of re-elect- ed Newman & Co. of Denver as the firnjs indepenSiecke, dent auditors. Sovereign Doctrine So Richard M. Nixon views his former position not as the elected President of the United States but as its sovereign. Having based his actions on that assumption, its now easier to understand both the man and his deeds. a surprise public defense of his intelligence policies, Nixon said last week that certain governmental actions taken by the sovereign in protection of the nations security are lawful, but if undertaken by private persons, are not. And thus he justifies his orders to secretly intervene in Chilean politics to prevent a Cuban-styl- e Communist infiltration" of South America. He can undoubtedly explain away numerous other deeds of question. Not only did Nixon misconstrue the mandate given him by the American public in 1972, he strained that trust until it brought him shamefully to the ground. Richard M. Nixon sat on a wall, Richard M. Nixon had a great fall, All the king's horses, and all the kings In men Couldnt put King Richard back together again. |