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Show Page Coors Continue Increased Profits (continued from page 9) fourth quarter of 1974. and the decline for the full year was 3.8 percent, from 12.33 million barrels in 1974 to 11.86 million barrels shipped by the end of 1975. Coors said that it was the first decline in the amount of beer sold by the company in 25 years, and the decline was caused by a reduction in sales in California, the largest market for the companys beer. The firm was forced to adopt an unusual procedure in increasing prices in California in 1974, he explained, and that, combined with labor disputes with some distributors and the competitive California beer market caused the dip in sales. Coors added that the beer still is the largest selling beer in California, just as it is the largest selling beer in every state in which it is sold, except Texas. The sales of the beer in Texas are restricted to the north and western parts of the state. Expansion into the south and east parts of the state started last July with 29 new dealerships. So far, however, only four of the distributorships are operating. Four others are scheduled to start next month and all 29 are expected to be in operation by June. During 1976, the company expand its distribution network into Montana and Spokane, Wash., according to will Coors. Coors also said the company had been denied in its request to the U.S. Supreme Court to reconsider an earlier decision by the U.S. 10th Circuit Court of Appeals in Denver under which the brewing firm was ordered to pay $5.1 million in income tax that it owed. The decision, Coors said, will have no impact on the financial statements of the company since accruals have been provided for the deficiencies. The Supreme Court decision brought to an end an 11 year legal battle between Coors and the Internal Revenue Service over deductions -- for overhead construction costs. In February, the Golden firm, which went public only last, year, increased its semiannual dividend from three cents a share to four cents a share in February'. Coors noted, however, that the firm intends to continue its policy of reinvesting nearly all of its internally generated funds into expansion. Capital expenditures last year, he said totaled approximately $70 million, a decline of $10 million from expenditures that were planned for the year. Vanier Graphics Plans Merger share of ABP common stock (OTC for each presently outstanding Santee-based common share of Vanier. 5.00, 5.75), The announcement was producer of business forms and related specialty printed made by the chief executive products, has announced an officers of both companies, K. agreement in principle to F. Vanier, Chairman of Vanier and W. J. Biggers, President merge with American Busi ness Products, Inc., Atlanta, of ABP. For the most recently Georgia. The transaction, subperiod, ject to approval of stock- reported twelve-mont- h holders of both companies, Vanier had sales of $25 million will involve the exchange of .9 with earnings of $913,000. American Business Products showed sales of $69 million and earnings of $2.1 million. The last closing price of In an article appearing in the American Business Products Feb. 18 issue of the National on the American Stock ExEnterprise, Clinton Oil was change was $10.00 per share. reported to have changed its Vanier Business Products on name to Energy Reserves. common stock, traded in the We have learned there are over the counter market was two corporations with the quoted $5.00 bid, $5.75 asked. name of Energy Reserves and American Business Pro- we incorrectly carried the ducts, headquartered in price range for the other Atlanta, Georgia, is a leading company in the Clinton story. producer of business suplies printing. They operate prim SANTEE, Graphics Corporation, Cal-Va- nier -- The Wrong Energy Reserves arily in the East and Mid-WeABP has 29 factories in 20 states. Five plants devoted to business forms are located in st Atlanta; Milwaukee, Wis- consin; Shreveport, Louisiana; Eden, North Carolina and Randolph, New Jersey. Vanier has 8 production facilities in California, Hawaii and Tulsa, Oklahoma. K.F. Vanier said the merger will give Vanier Graphics the national production and marketing goal it has been seeking. We will now be in a position to serve virtually all major markets in the United States, he said. Mr. Bigger added that the combinatin of the two firms, resulting in almost $100 million of annual sales volume will make it about the fourth largest company operating principally in the business 11 Bronco, Drilex Make pad Oil CASPER, Wyo-Bro& Gas Company, (OTC .10, .12) of Casper, Wyoming, announced today that Bronco has entered into an agreement in principle with Drilex Oil Co., (OTC. .13, .15) of Denver nco Colorado, whereby Bronco and Drilex are to drill approximately 34 development wells in Neosho County, Kansas to increase existing reserves on the Blaine, Johnson and Cleaver leases. Depths to the Cattleman sandstone reservoir are 460 feet and the oil is 39 gravity. Under the terms of the agreement, Bronco is to earn 50 percent of Drilex s interest. Operations are anticipated to commence within the next 10 to 15 days. In the Powder River Basin of Wyoming, Bronco has staked location for a test to the Muddy sandstone to a depth of 8000 feet. The test is located in SW NE Section 2, T 54 N, R 74 W, Campbell County, Wyoming, and is mile approximately one-hafrom an indicated Muddy discovery drilled by the Anschutz Corp., at its No. 1 Carson, NW NE Section 11, T 54 N, R 74 W. Anschutz is releasing no details, but unofficial reports indicate that substantial oil was recovered on drill stem test of the Muddy, and that the well in being completed from this zone. lf forms industry. Painful Admissions With Watergate behind us and its lesson supposedly inscribed in U.S. history forever, one w'ould think congressional committes would be more prudent in their attempts to conceal intelligence reports. After all, the Watergate break-i- n was one thing, but its discovery and subsequent cover-u- p quite another. Americans remain divided on which crime is more despised. Now both Houses have upturned in their investigations unsavory secrets about the Central Intelligence Agency. But the House Committee voted to withhold its report until the President could censor the matierial-givi- ng the CIA the last word. Except for the leaked version, the public might never had the opportunity to judge the gravity of such findings. In an attempt to prevent similar leaks of Committee report, Senator Church has ordered guards be posted at copying machines, names of senators entrusted with portions of the report emblazoned across each page, and spot checks of employees made by Senate guards. the Senate The scheme reeks of Nazi Germany. And, so the SS was very efficient. In light of all this, we ask, is it the secret that is revealed or the fact that it is leaked (and misdeeds uncovered) that most troubles U.S. |