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Show Enterprise Review, May 5, 1976 Page 6b Rampton Opposes MFS Dissident Shareholders He knows where to take his lady Gov. Calvin L. Rampton last week entered the controversy surrounding the proxy fight for control, of Mountain Fuel Supply (MFS). In a letter to Roderick M. Hills, chairman of the Securi- reported 63,340 shares. MFS has 6,120,624 shares outstanding. MFSs current management is proposing a full slate to the board of ties and Exchange Commission (SEC), Rampton requested that the commission make an immediate investigation .of the nature of the representations which are being made by group in their proxy solic- approval at the May 11 annual meeting. The dissident group is seeking proxy support from stockholders to elect an eight member slate to the board. ' B.Z. Kastler, president of MFS, issued a statement April 27 saying some of the statements made by King and Anderson were, in his opinion, a violation of proxy rules. Neither local attorneys, nor the Salt Lake SEC office had any knowledge of why any of dissidents statements would be in violation of these rules. Kastler had 'no further 13-mem- directors . to dine Dining like in San Francisco . . . New York . . . Paris. Romantic live music enhances King-Ander-s- your unforgettable evening. Nightly except Sunday. on itation! The letter of April 27 also stated that if the dissidents gained control of MFS and attempted to put into effect the policies they expouse, they would be bn a collision course with the state of Utah and the Drive to the door and leave the parking to us! Public Service Commission. r$v The dissidents, led by W.K. King, a Houston rancher, and Donald B. Anderson a New Mexico oilman, believe MFSs future is in oil and gas. Our principal concern is lafleurtlelys 338 South State Telephone 359-575- managements comment. Steven Wade Names Manager refusal to acknowledge or act upon the fact that Mountain Fuel Supply is more of an oil company than a natural gas utility company. Prince, Langheinrich & Greer is looking for three more good men. Each will have m a private office. Openshaw, a native Utahn, has been named manager . of Stephen Wade R. Anderson explained. King is currently a member of the board of MFS, but has not been renominated for this year. He is also considered the largest single stockholder in the company with a for shareholder Boyd PontiacMazda. Openshaw has twenty years experience in automotive service and parts. He will be in charge of the y 130 capacity service department. car-a-da- Option Market News by ff'arren M. Ket chain , Ph.l). Prince, hingheinrich & Greer r A tax change concerning Telephone John Prince, Phone 532-382- the wTiting of options is on the horizon. Currently, premiums received from writing options are taxed at ordinary income rates. The only exception is if an option is exercised, your basis in the underlying stock is reduced and the premium therefore effectively becomes a capital gain or loss. Under a new bill before Congress, called the Mikva bill, virtually all option transactions will be considered capital gains or losses. Thus, option profits or losses will be treated just like stock gains or losses. There appears to be no major opposition to the bill. .Passage would allow fuller participation of pension funds in option writing. These funds now have problems with their tax exempt status when writing options. It would also considerably simplify tax reporting of option income. Unless major opposition arises, passage of the Mikva bill is likely this summer. 5. All inquiries confidential, of course. m John Prince QUICK PRINTING 363-029- 4 LETTERHEADS ENVELOPES FORMS & NCR FORMS BUSINESS CARDS Prince, Langheinrich & Most reasonable rates on stock prospectuses Greer INCORPORATED 350 South Fourth East Suite 204 Salt Lake City, Utah 84111 1 . 10 discount with this coupon for orders over $25.00 j I |