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Show y under By BILL MULLINS TULSA, OKLA. (UPI) -The oil depletion allowance Is under attack by the nations lawmakers, but a significant number of legislators have vowed to fight for its retention. Rep. John W. Byrnes of Wisconsin, the ranking Republican member of the House Ways and Means Committee, told members of the House Rules Committee last week his committee would vote to cut the depletion allowance, but he did not say by how much. comment came Tougher from Sen. William Proxmire, Wisconsin, Democrat He said the oil industrys privileged tax position must be eliminated and he will lead the fight. Proxmire said Sen. Russell Long, the Louisiana Democrat who heads the Senate Finance Committee, has invited senators to submit reform Amendments when legislation to extend the surtax is debat- ed. ' Proxmire said he will offer an amendment reducing the depletion allowance from 27.5 to 15 per cent, a move he said would increase federal revenues by 600 million. But while Byrnese and Proxmire talked of cuting the Allowance, 13 members of the !House Interior Committee told s elter Attac Chairman Wilbur Mills of the House Ways and Means Committee the depletion allowance should be retained. The 13 congressmen said the depletion allowance is necessary because the experience of two major wars has shown the fallacy of depending on foreign sources for minerals. The Justice Department also was paying close attention to thet oil Industry. It filed and antitrust -- uit against Quaker State Oil Refining Corp., accushing It cf restraint of trade.. The suit alleges Quaker State conspired with distribution outlets to fix prices, allocate customers and territories and prevent sales of Its brands to discount sellers. In another case, the Justice Department proposed a settlement of an antitrust suit against Socony Mobil Oil Co., Skelly Oil Co., American Petrofina Co. of Texas, Union Asphalts and Road Oils, Inc., American Oil Co.f Apco Corp., Phillips Petroleum Co. and tht Levin-Townsen- d alleged they conspired to fix prices for the sale of liquid asphalt to the state of Kansas. The efforts of two firms to produce oil from other substances ran into trouble but it did not appear serious enough to end their work. New Car For Autos A new railroad car designated to carry 30 automobiles suspended nose down on side panel-ramhas been developed by Southern Pacific Railroad and General Motors. Nicholas N. Udaloff, S.P. design engineer, left, and Anthony Venditty, G.M. Senior project engineer, rail car. It inspect the high "'ooved, can carry twice as many small auto as the trilevel railroad rack cars now in use. sub-compa- ct ps select the best software services for hs computer instal lation without being swayed by services offered without charge," James E. Townsend added. Townsend referred to IBMs decision last week to start st industry. Not Much T J. Fortune Says Inflation Battle Slows Economy - NEW YORK (UPI) The battle to control inflation will cost the economy a years Fortune Magazine growth, eco- said in its semi-annu- nomic forecast. Fortune said its economists see a rise of only three per cent in the gross national product this year, only half that in 1970 and resumption of flie more normal four per cent growth rate in the latter half Pehrson's Throo Big Stores of 1970. Fortune said there will be no substantial return to easier credit before the end of 1969. The current unemployment rate of 3.5 per cent will cross four per cent before the end of the year and average 4.5 pe- - cent in 1970, the magazine said. - The is outlook remains obscured by one question: When will the impact o( all those months of fiscal and to install! Uses Regular 115-Vo- lection so care-- SOUP ind SANDWICH LUNCHEON SPECIALS! nr:. sf Soup du Jour, Egg Salad Sandwich, Btvcngc Bowl Bowl of Soup du Jour, Chicken Salad Sandwich, Beverage lie of Soup du jour, Grilled Cheese Sandwich, oeverage 71c Bowl Bowl Fully Automatic ... of Chili He Crisp Saltino Crackers NSURANC TEMPLE SQUARE COFFEE SHOP 'jam ?S W. SO. TEMPLE, SALT UKE CIYY m niuct nci ruuo No guess work for any fab- - He he car scr be ho wl op t tw of ce: ti er curity standards. er Boise, Idaho. Jim Reed, a former resident of Salt Lake City, and a Boise native, was named to the post. He is head of the properties customer service department in Palo AJto, Calif. Before joining Boise Cascade Properties,' Reed was vice president of customer service for Horizon Land Corp. He also had been area credit manager in the Boise Cascade Corp. Salt Lake office. Reed is a native of Boise, and was graduated from the U.S. Maritime Service Academy. He also attended the University of Omaha and Boise Junior College. !( 01 CO sa ai ai t P c y 01 C( Zephyr 'Obsolete1 - SAN FRANCISCO "The long distance passenger train is technologically obsolete in the jet age, M. M. Christy, si n a dy of the small segment of travelers who still use the before its losses Zephyr adversely affect the financial stability of our over-al- l operations, he said. The company directors reelected officers and declared regular quarterly dividend of 55 cents a share. Western Pacific Railroad Cb. president, told the company stockholders at the annual meeting. We should be pernwedto discontinue this private subsi UAL Declares Dividend come a wholly owned subsidiary of UAL, Inc. has not yet become effective, because the company has not received a ruling from the Internal Reve- -' nue Service. The board of director of United Air Lines, meeting in Chicago, has declared the regular quarterly cash dividend of dollars 1.375 per share on preferred stock and 25 cents per share on common stock. The preferred dividend is payable September 1, 1969 to stockholders of record August 15, 1969. The common Under this merger, shares of common stock of United Air Lines, Inc. will be into and exchanged for shares of common stock of UAL, Inc., and shares of preferred stock, 514 per cent series of 1960, will be converted into and exchanged for shares of iy2 per cent cumulative prior preferred stock of UAL, Inc., In each case on a share for share basis. , divi- dend is payable September 15, 1969 to stockholders of record August 15, 1969, The board also said the proposed merger under which United Air Lines, Inc. will be t Model Record WA550. Contracts - Genercl Electric NEW YORK (AP) A re& ord $7.08 billion in contracts for future construction was DISPOSAL We bought them Spectacular value now at Pehrson'sl Stainless steel bowl, largo capacity. fC600 Reg. 69.95 5)95 in May, the F. W. Division of McGraw- Dodge Hill, Inc., reported. awarded r This was 15 per cent above the total of $6.2 billion for o ' INSURED SAVINGS CERTIFICATE $5,000 (or more in even $100 amounts) 6 months INSURED SAVINGS CERTIFICATE INSURED SAYINGS PLANS $2,500 (or more in even $100 amounts) 6 months Highest legal rate. Compounded semi-annuall- FREE GIFTS FOR SAVING AT FBL! Open (or add to) your account in the amount of $200 or more. Choose from: SAVE BY JULY 10th-EA- RN FROM JULY 1st May 1968. As has been the situation in. recent months, the main sources of expansion were in nonresidential 5 pc., extra heavy stainless steel, hollow ground Magic Edge. STAINLESS STEEL MIXING BOWLS. Set of three. OTHER EXCITING GIFTS while the supply lasts. Offer expires July 10th. One gift per family. Gifts cannot building. contracts in May rose 20 per cent to $2.7 billion from a year earlier. George INSURED PASSBOOK SAVINGS A. Christie, for Dodge, said f slowdown of construction is expected because of monetary and fiscal restraints. fEV MATCH EVEN SHARP CARVING SET. CEO 33 be mailed. Sugar House 466-86Cottonwood Mall 278-04Bountiful 292-14- SH 77 DUILDINO and LOAN 16 SOUTH MAIN STREET 87 61 4 ch( oni A new vice president has been appointed by Boise Cas-- . cade Properties, Inc., a subsidiary of Boise Cascade Corp., monetary restraints and other y measures hit the steel market? Condition flui Boise Cascade Official counter-infiationar- . By Night? wh and carelessness for causing millions .of dollars of cargo loss annually. Bible called the airlines lackadaisical and slipshod. In a letter to Air Tranport Association President Stuart Bible praised G. Tipton, affirmative action ATAs and invited ATA to come before his Senate committee to outline your plans to deal with this skyrocketing problem that strikes the businessman with the loss of his high value shipments. He warned that his commit-te- e will be watching closely the progress of the air carriers in developing better se- organize a se- - Corner c u r lty committee to curb On the Increasing rats of air Commerce cargo thievery iiiiiiiiiiiiiiniiiiiiiuilllill and pilferage at the countrys major terminals as a first itep in the right direction. Bible, chairman of the Senate Small Business Committee, put national attention on file air cargo security problems one month ago at committee hearings when witnesses blamed airline "apathy last-minu- te m lt Circuit. 5,000 BTUhr. cooling capacity. Pay Nothing Down, Only 5.8 1 per month. - Sen. Alan WASHINGTON called has preBible, the nations liminary plans by a i r 1 ines to llillllllillllllllllllllllllillli 5.6 sumption. While the near-terpicture looks pretty busy, the longer-ter- Rosa Air Ccnditioners Mini-Was- IIIIIIIIIH Plans Hailed million tons. There have been reports that Japanese shipments so far this year have been running heavy enough to requite a slowdown later in the year and, for West Coast steel consumers at least, this means less available supplies in coming months. Meanwhile, lead times on shipments of domestic mills are not shortening anywhere to the degree expected. This is in part due to some ordering of certain quota m 3 Cycles! June 30, 1969 Air Security steel mills are busier this summer than they expected to be when industry executives were totaling up the potential impact of assorted headaches earlier this year. For one thing, the usual midyear dip appears to be flattening out completely. One leading steel producer said July shipments will match the June total of eight million tons instead of registering the usual 10 per cent drop. For another, the problem of Imports, which had domestic mills clamoring for Import quotas earlier this year, has been shoved aside by world-wid- e steel boom. The combined effect of higher steel exports and signs that European producers may not even match the tonnages set under last years voluntary export quotas are making domestic consumers restive. One imported group, the West Coast Metal Importers Assn., already has moved to capitalize on the situation by urging that the Japanese portion of the voluntary agreement (which limits total imports to 14 million tons this year) be increased to offset the anticipated drop in imports from Europe. The Japanese share of the steel products market for price boosts in July, but it also reflects Increased con- Live Cool! General Electric Easy Monday, 2B REGAN NEW' YORK (UPI) Department has charging for certain systems of engineering activities, computer programming and customer education courses. IBMs move came in the face of five ai.ti-trusuits filed against the company by the and government private B UPI Business Writer IBM Growth Seen New NEW YORK (AP) opportunities for growth and IBM profit ahound now will no longer give away, without charge, its computer software services, the presiServdent of ice Corp., a computer software firm, said today. The computer user wilt be the benefactor of this significant change in computer pricing, for now he will be able to IIIIIIIIIH! In Steel? By ROBERT the Consumers Cooperative Association. The settlement would forbid price fixing by the seven firms and the association. The Justice Fii Slowdown Serving since 1922. Assets over $48 million. I I ee mmim 4 ' |