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Show The Sational Enterprise , December 8, 1976 Page three Financing Gas Exploration dividends One Way or Another The Piper Must Be Paid Tejas Gas, regular quarterly dividend, 5 cents per share, payable Dec. 15, to shareholders of record Dec. 6. Staring us square in the with the addition of new face this winter, according to Alaskan supplies, is ample the Federal Power Commis- proof. In such a situation, one sion. is an expected 22 percent shortfall of natural gas sup- observer at least thinks it almost twice the size instructive to examine the plies of the shortfall of two years means, sometimes very comago. And. say gas producers, plex means, which the inthe shortfall will continue as dustry has used to finance new Conlong as FPC price controls natural gas supplies. continue on interstate gas cludes Kurt Dew, in an article in the Business 8 Financial supplies. Fortunately, for both pro- Letter published by the Fedducers and consumers eral Reserve Bank of San (though the latter arc blind to Francisco: "Direct payment its wisdom) the FPC last of the market price to the gas month reaffirmed its earlier producer is a more efficient approval of a sharp price hike and therefore ultimately a less for "new nearly triple expensive way of purchasing gas, which is gas newly dis- gas than the alternative: American Reserve Corp., resuming dividends with cents quarterly declaration, payable Jan. Previous 3 to shareholders of record Dec. 23. payment was 6 cents per share in December 1974. 2-- 12 Fashion Two Twenty Inc. special dividend, payable Jan. 18, to shareholders of record Dec. 23. Paid an annual dividend of 6 cents last March and a special dividend of 6 cents in May. Products, 5 cents initial dividend, payable Jan. 4, to shareholders of record Dec. 14. Harlyn JUST PUBLISHED or newly sold in interstate commerce after Jan. 1, 1975. (New gas accounts for about 10 percent of interThis and state supplies.) related price actions over the next year could raise the average price of interstate gas 30 percent or more, industry sources say. But they say, prices arc still far too low to bring forth covered INVESTING IN THE GREAT NORTHWEST ... FOR THE FIRST TIME. A NOW DEFINITIVE BOOK THAT ANALYZES EXCITING INVESTMENT OPPORTUNITIES IN THE DYNAMIC, RESOURCE-RIC- H SEVEN STATE REGION OF THE PACIFIC NORTHWEST (INCLUDING ALASKA). ABOUT THE AUTHORS. INVESTING IN THE GREAT NORTHWEST" is a new approach to Investment guidance, bringing together in 320 entertaining and readable pages information indispensible to any businessman interested in this the increased supplies the nation needs. That U.S. reserves dropped 22 percent over the past decade, even region. Discusses over 200 public companies With over 2 billion shares of stock "Over $30 billion annual sales Paylng over $1 billion annual dividends and interest SHANNON F. MATT M Editor of unuanal boofc. A frail bmefclng effort ith Important material tor economic aopNaltcaMa aa emu aa amateur toveetora." Hobart Land-aua- r, Tha OREGONIAN. 'The aufhora aaa many maaona ertiy the Narthamal ehoUd continue to bo a aound and gmatn, region tor In re el me nt funda. Thara'e no raaaon to dtaagrao." Den Coughlin. Seattle. POSMNTELUGENCER. round-abo- finan- ut cial arrangements in order to circumvent regulatory tempts to artificially hold below the at- price market levels. Short Lived Solution Dew refers to one such a significant one approach despite its eventual regulatory of a system of demise advanced payments developed last year by the Southern California Gas Co. (SoCal) and $9.95 Hard Cover devpromised an interest-fre- e elopment loan to the oil producer in return for first chance at Alaskan oil and gas sup- plies. SoCal would have paid $327 million to ARCO for Prudhoe Bay development, and ARCO would have granted SoCal purchase rights to 60 percent of planned production about 4.2 trillion cu. ft. of gas. Giving the transaction its blessing, California's Public Utility Commission (PUC) approved a schedule of rate increases for SoCal. sufficient to cover its costs. The decision was not new. First approved by the FPC in 1970, such advanced payment arrangements sought to provide incentives for oil and gas companies to develop more gas reserves. Doomed from the Start But from its inception, the financing approach was doomed. Consumer groups opposed it. The PUC itself Continued on page nine Subsidiaries of Applied Devices Land $19.6 Million in Contracts ORDER TODAY $6.95 Soft Cover AVAILABLE AT MOST BOOK HAUPPAUGE, N. Y. STORES I IN I THE GREAT NORTHWEST:" nattoiwNy-know- it aacyrEy analyst and financial wrltar and vn DtodOf of Raaaorch Gm or a noivnmi odh ptavtarapp ann lor n urn bar of yaart tto la mambar at tha Oonnor Sadly of locurity bi Iho bwaatamrt buolnaaa. Roao lo author of tha boob, "bmaaHng Loar-MoGiowtti Compantoa." In hard cover $9.95 plua 50c mailing aach. In soil cover $8.95 plua 50c mailing each. -Name In I . -- I . Address City IF Stats - Zip NOT SATISFIED. RETURN BOOK WITHIN 30 DAVS FOR A REFUND r r- - ' In two separate announcements OR ORDER FROM: Willamette Management Associates, Inc. 220 S. W. Alder Street Portland, OR 97204 Please send me copies of INVESTING I last week. Applied Devices Corp (OTC 1.625, 2.125) an- nounced contracts totaling Sonatrach, the Algerian national oil company to provide a range of consulting, training, and technical assistance ser- subsidiaries. vices involving computer based systems and applications and software develop- The companys Houston, Texas based subsidiary. Digital Resources Corp., received an $8.4 million contract from ment. This technical assistance contract is the fourth extension received by Digital Re- - $19.6 million for two of its .J I I I I I I Please send me a one-yea- r is subscription to the National Enterprise. Enclosed $24.00. NAME ADDRESS CITY STATE ZIP Mail to: THE NATIONAL ENTERPRISE P.O. BOX 11778 SALT LAKE CITY, UTAH 84147 t on line sclcct-your-own-numb- er 1977. I I I The National Enterprise gives your investments the kind of coverage they deserve. three-digi- game. The game will start in the spring of I With over 1600 stock quotations, news articles, earnings reports, corporate profiles, market market columns and feature stories, the National Enterprise covers the OTC securities from coast to coast. m behind closed doors of We make it our business to know what's going on in the industry-froII We keep you posted on the corporate board rooms to changing securities laws and regulations. latest developments and abreast of current trends. sources since July 1969 when it was retained to establish a major computer center in Algiers, Algeria, and to train Algerian nationals for self sufficiency in computer sciences and technology. Later in the week. Applied Devices' Hudson, Mass, based subsidiary, Datatrol, Inc. was selected as prime contractor by the Michigan Bureau of State Lottery to develop, implement, and operate a system for the states daily I I I Co. Richfield (ARCO), whereby the utility 'A moal cotonmial on Nomwwl Inwtlng and a wcognind npart on ooiporola Ha hoida a docforafa In from Indiana Unlvaralty. la a Chartarod Financial Analyal and a CartNlad Financial Flannar, and H director of tha Immatmanl Analytic Cantor m Portland Stale U. LAWRENCE R. ROSS to a developing Atlantic I I I I I I I I I I I 1 The contract, the company said, will run a minimum of two years with Datatrol' s revenues for the period expected to total over $1 1 .2. At the state's option, the contract can be extended annually up to a maximum of three additional years. Under the agreement, Datatrol will furnish the central computer facilities consisting of two Burroughs 6700 computers to be installed in Michigan, the necessary software to operate and manage the system, and wager recorder terminals to provide agent operations with easy transaction entry. The company said it will also design the communications network, provide the necessary personnel to operate, maintain and support the system, and train agents in equipment use. |