ustxtxb_obs_1974_02_15_50_00010-00000_000.pdf

Papers in road lobby In the heavy lobbying sweepstakes at the constitutional convention, the Texas Good Roads Association seems to be holding a commanding lead. The Association comprises highway contractors, heavy equipment firms, cement makers and other disinterested parties. It is not precisely frantic about the efforts of urban representatives to tap the constitutionally-protected highway ‘trust fund for mass transit. The Association is just not taking any chances. They sent all 181 delegates an inch-thick collection of 300 documents Chamber of Commerce recommendations, newspaper editorials and statements by public officials supporting the Association’s contention that super-highways are the only way to fly, transit-wise. The Association’s press-release output is’ a monument to diligence and its representatives have not been shy about volunteering testimony before committees. It turns out that the Association’s membership of 2,335 individuals, associations, firms, chambers of commerce, cities and counties goes beyond those who have a direct financial interest in more and more highways. It includes 23 Texas news media, all of whom are, presumably, committed ‘to the principles and positions of the Association. And all of whom also are, presumably, committed to bringing you balanced, impartial coverage of the controversy over whether to tap the highway trust fund for mass transit. The Dallas Morning News, ever in the forefront of journalistic ethics, boasts a corporate officer, in fact, its president Joe M. Dealy, on the very board of the T.G.R.A. Objectivity forever! The news media members are: Abilene Reporter Bellville Times Brown County Broadcasting Co. Childress Index Dallas Morning News Dallas Times-Herald The Denison Herald Express Publishing Co. Gainesville Daily Register Globe News Publishing Co. Houston Chronicle Kilgore News Herald Longview News and Journal Lubbock Avalanche Journal Lufkin News The Midland Reporter-Telegram The Paris News San Antonio Light San Marcos Record Texas Contractor Texas Parade Tourist Court Journal Victoria Advocate Manufacturing Co. to rehire the employees and strikers it has discharged during the labor dispute. Administrative Law Judge Walter H. Maloney, Jr., accused Farah of “a broad-gauged anti-union campaign consisting of glaring and repeated violations, despite numerous government orders ‘to mend its lawless ways.’ ” The judge concluded that the company had acted as if there were no Ten Commandments. A spokesman for Farah called the decision “vindictive” and “highly inflammatory.” The slacks company intends to appeal the case. Incentives, perhaps U.S. Sen. Lloyd Bentsen has introduced legislation to eliminate the oil depletion allowance for overseas operations of American oil companies. The bill would not abolish tax credits gained for depletion of domestic reserves. Bentsen’s statement opined that such a tax differential would encourage development of resources in North America. According to The New York Times’ Eileen Shanahan, though, the “handful of governmental experts on the taxation of 10 The Texas Observer the oil industry” agree that such legislation, if enacted, “would not cost most oil companies a single penny in. additional Federal income taxes.” International companies now pay little or no tax on oil produced overseas because they are allowed by law to credit against their U.S. taxes all royalty and tax payments to foreign governments. “In international companies “had more such tax credits available than they could use in reducing their American taxes to zero. The surplus credits will rise about eight-fold in 1973, the experts Calculate.” If the experts are calculating correctly, the tax incentive Bentsen’s statement envisions would not exist. The New York Times’ James Naughton talked to U.S. Rep. Alan what congressmen found during their “pulse-taking” over the Christmas recess. Naughton noted that none of the people who had lunch with Steelman in Mesquite asked the freshman legislator about the just-released experts’ report on that 181/2-minute gap. Why not?, Naughton asked, and got this reply from Steelman: “It’s just probably battle fatigue. We’ve had six months of bombshells. After a while you get immune to the highs and lows. But I don’t think it should be interpreted as a lack of interest.” Steelman also told Naughton that impeachment is “not the kind of issue governed by public opinion, as I see it. It rises or falls on its own merits. It’s the burden we bear to judge the evidence.” U.S. Rep. Dale Milford told The Dallas Times Herald that keeping his ear to the ground in the 24th District during the Christmas recess gave him no reason to think people there are anxious to impeach the President. In fact, he said, “We held 41 or 42 public meetings, and impeachment was pretty far down on the list of things the people wanted to talk about. The impeachment thing wound up in about fourth place. The cost of living and inflation was the number one item they wanted to talk about.” Even the talk about Watergate he heard, related the ex-weatherman, seemed to be “discussion not so much of impeachment but more one of impatience and lack of confidence in politicians in general and the press.” Meantime, U.S. Rep. Bob Casey \(D The Washington Post that the House must act as a grand jury in the Nixon case. “I don’t like the idea,” Casey said, “but if the facts are these we have to bite the bullet and do it. People say get off his back. We didn’t put it on his back.” Win some, lose some H. Ross Perot, the gung-ho multimillionaire, has suffered his biggest setback since the North Vietnamese wouldn’t let him bring Christmas presents to American POWs. This time, it’s a business reverse: Perot’s stock-brokerage firm, duPont Walston, Inc., has announced plans to sell its assets and get out of the securities business. Officials of the company say it has adequate capital to cover all client accounts, but that continued operating losses ‘ convinced directors they should cease brokerage operations. DuPont Walston is the corporate child of duPont Glore Forgan, Inc., and Walston & Co., Inc., two securities firms which merged last July. Since then, duPont Glore Forgan has been strictly an administration and computer-service firm, with duPont Walston as its only customer. Perot has sunk almost $100 million into the two allied companies. In addition, the firms’ contracts with Electronic Data Systems, Perot’s firstborn corporation, make up about 18 percent of EDS’ gross revenues. Perot was not the most popular man on Wall Street. His attempt to reorganize brokerage operations on the EDS pattern crew-cuts, taut ship and all that were viewed with disdain by some observers there.