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Show The National Enterprise, December 22, 1976 Page three Oh Great Spirit, Bless Vail With Snow VAIL, Colo. Nothing comes easy these days. Not even snow. The celebrated mountain retreat of President Ford and company, Vail, Colo, is without the substance of its existance. And perhaps no thing short of magic will cover the majestic peaks with a blanket of white powder before Christmas. Without prodding, Mother Nature thus far has been most uncooperative. At ross the very top, Vail Associates (OTC 9.00, 9.50) operator of the luxurious ski resort, reports only 18 inches of settled snow and a paltry 10 inches at (When packed 10 inches measures 5 inches.) No one at the resort will say how bad the good weather is hurting revenues, only that 70 percent of Decembers income is generated in the last 2 days of the month. And theyre getting worried. Actions taken by the company last week, belie its desperamid-Vai- l. 4-- When and Where Does It Stop? Each price conscious American should take notice of this. Over the last two years the oil industry has been subject attacks from all fronts. Note a few comparative to prices of some consumer products, exclusive of taxes (prices as of April 29, 1976) before taking any more pot shots: -- all-o- ut 10-1- tion for either snow andor publicity; lack of either of which does nothing for the balance sheet, not to mention the absence of both at the same time. Vail invited five members of the Red Ute Ceremonial Indian tribe to perform religious rites beseeching the Great Spirit to bless his children with snow. Complete with chanting, drums, and dancing, a prayer went up for the deliverance of mankind from an unusually dry spell. Leading the ceremony was the elder of the tribe, Theatis Cloud, a descendant of the tribes last chief, Edwin Cloud interesting to note that each of the above products can be replaced yearly by a new crop for a minimal investment with the exception of oil and gasoline. It takes an investment of $200,000 to $5,000,000 to drill, complete, and equip an oil and gas well. The costs arc determined by depth, location and It is environmental conditions. Only one in nine wildcat wells is productive. Every barrel of oil or foot of gas pumped from a reservoir cannot be replaced - it is depleted. The only way you can stay in the oil business is to keep drilling new oil and gas wells to replace depleted reservoirs. Excerpt from the American Association of Petroleum Landmen, November, 1976. who died in 1941. Our dramatic growth the past two years is the result of two events. In 1974, we acquired Dixie Insulation of Houston, Texas, and changed our business to insulation of oil refining and storage facilities. In 1975, we broadened our services through insulation of liquid ammonia fertilizer storage tanks and plants. Our experience in insulating ammonia facilities places us in a favorable position to take advantage of the increased world production of liquid ammonia. At the same time, we continue to assist the petroleum industry in its effort to increase oil and gas production. We have dedicated ourselves to making DiEnco the foremost petroleum and fertilizer facility insulation company in the nation. HOUSTON SALT LAKE Superstitious? Well, Vail is banking on the good fortune brought them once before by the Sundance People, as they call themselves, when in December 1963 jagged rocks still shown themselves on Vails slopes. According to company spokesman, Morgan Brooks, within 48 hours after that ceremony, snow began to fly and over a three-daperiod piled up two feet. The resorts invitation came none to early, however, since on Saturday last. Vail opened additional lifts, effectively doubling its skiing terrain Based on continuing in- mountain visitor creases Continued on page nine y Pako Earns Less on Higher Sales MINNEAPOLIS, MN Pako Corporation (OTC 7.00, 7.75) fcP'1ed slightly higher sales lower consolidated earnings for the fiscal year ended October 31. On volume of Pako earned 1,590,000, or $1.33 per share, $53,564,000, which includes $814,000 or 68 cents per share cumulative cct of accounting changes, Reported results fori sales of $53,263,000 and net profits of $2,492,000, or $2.08 9W per share. Robert L. Galloway, president, said that 1976 results include "accounting changes whereby deferred taxes on our DISC (Domestic International Sales Corporation) carings are no longer being provided and investment tax credits arc now being handled on a direct flow-throug- basis. h This makes Pakos financial reporting more comparable with other firms in our industry. Galloway said Pakos lower earnings for the year resulted from lower than anticipated sales, less profitable product mix, and substantial foreign currency exchange losses. In the fourth quarter Pako sales were at an e high for any three month period, reaching $16,044,000 compared to $13,397,000 a year ago. After-ta- x earnings were 88 cents per or $1,042,000, share, compared to $853,000, or 71 cents per share, restated for the final three months of 1975. Earnings for the fourth quarter of 1976 include the accounting changes. Pakos major subsidiary', Pako Photo, Inc., reported a strong performance year in 1976 with an increase in sales and substantial earnings improvement. Pako Photo is the largest photofinisher in the Upper Midwest, headquartering in Minneapolis. Pako manufactures processing equipment for the all-tim- yu Covered With over 1600 stock quotations, news articles, earnings reports, corporate profiles, market columns and feature stories, the National Enterprise covers the OTC securities market from coast to coast. We make it our business to know what's going on in the industry--frocorporate board rooms to changing securities laws and regulations. m behind closed doors of We'll keep you posted on the latest developments and abreast of current trends. The National Enterprise gives your investments the kind of coverage they deserve. Please send me a one-yea- r subscription to the National Enterprise. Enclosed is $24.00. NAME. ADDRESS. I CITY. STATE. ZIP- - Mail to: THE NATIONAL ENTERPRISE P.O. BOX 11778 SALT LAKE CITY, UTAH 84147 photographic, graphic arts and x-r- ay industries. |