Gas to Cost More If Oil Price Support Programs, Totaledwheat Groups (MISSION: 53.1 Billion - Or More Than Thetie -In Promotion Total Gross Income of U
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Calf Calf calves alf cow 1120E120i,, 1 COW 1190 20/ 1 COW 140024 cow 011: IA cow 105p 975@ ow 20t, 1195@19i 1 COW 15th year no. 2 March 11, 1969 1390@ 1 COW 165191 I cow 191 1310 191 cow Here/ 1140 194 cow 1380 @ 1935 s cow 68 Farm Operating Statement 1050 @ :ow 191 Last year farmers enjoyedaterest outlay, they added, wasare levied by local governments, 1350E7;193 record gross income of almostnlarly 10 per cent more thanincluding thosetosupport cow 1390 193: 51 billion dollars, but their netin 1967 and almost triple thatschools and other local func- cow 11101 193i of 14.9 billion was well below of 1958. tions. cow 1240 @ the high of 16.2 billion in 1966. 19,11 The total interest jump last Preliminary estimates indi- cow 1120 The Agriculture department year was attributed not only to 19,1E cate real estate taxes will in- cow 1220 @ in analyzing farm costs pointshigher rates charged by lenderscrease about 7 percentfor cow 19.11 but to increased borrowings, the 1015 @ to sharp rises in taxes and in- 1968 officials said. There was cow 19.10' terest on borrowed moneyasreport said. no projection for 1969. 1240 @19,10 cow important factors in theecono- "More funds are borrowed be- 1260 @ Taxes on the personal proper- 19,10 mic squeeze. cause the total bill for purchas- :ow 1150 t2' of farmers, including machin- 19.10 Entire Town Of Laclede cow Farmers paid a record 3 bil- ed production inputs is increas-ery and other equipment need- 1015 @ 1910 Here's the entire population of Laclede, 15 miles lion dollars in 1968 on borroweding and because farmers are cow edin production, jumped 5.5 1085 @ 191 northeast of Wa.mego in Pottawatomie County. The capital, and this is expected toincreasingly willing to use bor-per cent from 1966 to 1967's to- cow 1065 @ 1900 population of the town is two, and here they are- Mr. rise around 3.2 billion in 1969,rowed funds," the departmenttal of 337 million dollars, and cow 1220 and Mrs. Ronald Kolterman. - said. 1851) officials predicted. The total in the estimate for 1968 is a 6 per cow 1165 @ Total farm debts outstandingcent gain, the report said. cow as of January 1, excluding loans 1165 @ 1830 made by the government under Gas To Cost More If Oil price support programs, totaledWheat Groups (MISSION: 53.1 billion - or more than theTie -In Promotion total gross income of U. S. Agri- Wheat promotiongroups culture last year. Of the debts from 11 states including Kan- NY Companies Can Stand Pressure outstanding a record 27.8 billionsas have agreed to under- Not for more than a decade sorb the increase, or a differen- was for farm real estate, and write"low -budget"promo- $2.90 in 1959, and $2.88 in 1960. another record 25.3billion intions forAugustsandwich has the oil industry been able tial among major competitors'Scattered adjustments have to put thru and sustain a gener- prices occurs, the latter a most short and intermediate -term month. The promotion will tie t. Marys, pushed the price upward over loans. in its pitch With a milk -and - alprice increase thru produc- unlikely event. thelastnine years butstill tion, wholesaling, and retailing. Even if the competitors even- Department experts also seesandwich campaign by the about the same at in 1957. no relief from rising farm tax- dairy industry, soup -and -sand- Efforts in the past have met tually follow suit on the stated Tho the oil industry has con- Kam, consumer resistance, competi- prices, es. In a study of 1967 taxes -wich advertising by compan- it does not mean that for a number of yearsthe most recent year availableies such as Campbells and tive pressures, and government there will not still be pressurethat it was a depressed industry coercion that forced companies downward. Companies may list --officials said all property tax- Heinz, and have -a -Coke and - with prices not commensurate es levied on farms that year to- Amovvw,,to rescind or partially rollback higher prices but still use var-with the risks of exploration sandwich by the Coca Cola Co. price increases. taled 2.3 billion, 8 per cent more ious discount methods to get aand production, the timing ofthan in 1966 and the sharpest A move started last week by selling advantage in some terri-Texaco's move surprised many. Texaco, followed by Gulf, Sin- tories. one-year gain in 25 years. Auctions and sales The oil tax depletion allow- Farm real estate taxesac- P And the ever-present inde- can be found in Salim'clair, and some smaller oil com- ence is expected to come undercounted for more than 1.9 bil- panies,toraisepricesatall pendent companies, which nor-the heaviest fire in Congress in lion, a record increase of $151 both sections of levels will doubtless take sever- mally sell gasoline at the pumpa number of years, and some million from 1966 or 8.4 per Grass & Grain al weeks to see if it can be held. for two cents less than the ma-Congressmen figure the timing cent. Taxes on real property in- Texaco started off by an- jor companies, may see the timeof the price increase is certain creased five -fold in 25 years, the this week. le Only nouncing that it would pay 20 as apt for a little competitiveto have a negative effect. report said. This Section cents a barrel more for crude squeeze on the big companies. Several industry analysts sug- Most farm real estate taxes Pages 11 and 12 it11:00 a.m. Cattle oil.It also said it was increas- Many independents believe that Jer they are consign. gest that theprice move by ing its tank wagon price by .6 a 3 -cent differential would pro-Texaco,rather than being a cents a gallon. duce a profitable volume in- hindrance in defense of the de- If the increase is carried out crease for them, and it is thispletion allowance, is actually a across-the-board by the entire in- thinking, with the majors figur-ploy to help sustain the indus- dustry, it would mean that the ing that a 2 -cent differential istry's present tax structure. 5780129,80 state would gain some $18 mil- the proper market pricing, that "It may be a way of letting 290 @ 28,25 lion inoil production income, most often produces gas wars.the government know that the 111 based on an average $3.32 for If the price increase can sur-only alternative to the depletion 36 -gravity crude instead of the vive the competitive instinct forallowance is a sharp increase in 220 @ 20,40 old $3.12,for some 90 -million advantage and consumer resis-prices," one analyst observed. 214 @ 20,30 barrels of yearly production. tance,it must still get by the Another said it would take at 210 @ 2025 If this increase goes thru the government. least a 70 -cent -a -barrel increase 215 @ 20,30 jobber and tankwagon levels, Just how the Nixon amdinis-to replace the depletion allow- 217 @ 20.20 it will come out at thegas sta- tration may react to controllingances.This, he added, would 225 @ 20,10 tion pump at a 1 -centa gallon industrial price hikes is not mean about a 3 -cent -a -gallon gas 220@ 20,20 increase. For Kansasconsum- known, but the federal govern-price increase at the consumer 188 @ 19.65 - ment can hold a powerful leverlevel. 255 @18,20 ers this would amount to a $10 million hike in theirgas costs. if it wants. 427 @ 16.70 WORKERS BACK ON 375 @ 17.20 The remainder, ofcourse, would In 1967 an attempt to raiseJOB AT EL DORADO 419 @16.90 come from out of state, for crude oil and gasoline prices 300 12.50 Kansas produces considerably brought a threat from the De- EL DORADO- Workers BH @ 65.00 more gasoline than it uses. partment of Interior to consider have returned to their jobs at 145 @ 19.00 the Skelly Oil Company's refin- 135 @ 20,00 The presence of spotted, but increased oil import quotas. The rather steady,gas pump wars in rollbackery here after a 52 -day strike. 296 @ 18,30 threat was sufficient to Skelly had threatened to start 14.50 the G&Garea attests to the most of the price increases. hiring replacement workers for 14,50 competitiveness of the business, in 400 striking workers when the BH el,15.25 and this is the firstreason that The last major increase the increasemay not stick. the industry was in 1957 whenunion voted to accept the lat- While Gulf, Sinclair, DX, a 35 -cent boost in crude oil pric-est offer from Skelly. Skelly's Kerr-McGee, and Derby follow- es prompted a cognressional refinery at El Dorado produces ed Texaco by announcing job- hearing amid charges the indus- 65,000 barrels daily. ber or tankwagon increases, try was trying to profit from there weresome giant namesan increased for domesticcrude HOLSTEIN OF STEENBOCK which did not- Standard, Shell,during a Middle East crisis that DOUBLES AVERAGE ;SION (0' Phillips, Conoco,Mobil, among had closed the Suez Canal. A Holstein belonging to Quinn them. When bombs fell on Suez in Steenbock & Sons of Manches- Idus40 If these companies do not fol- 1956, 'the national average price ter has doubled the output of low suit,it means that Texaco,for crude was $2.78 a barrel. another U.S. dairy cow. The 4- Down Time rn Gulf andothers must under-The 35 -cent increase jumped the year -old registered Holstein pro- Merle Ascher, route, Junction.