ustxtxb_obs_1985_04_05_50_00010-00000_000.pdf

FROZEN MARGARITA IRISH COFFEE 9 AM UNTIL MIDNIGHT HOT DOGS HAMBURGERS STEAKS CHICKEN RESTAURANT 511 RIVERWALK ACROSS FROM KANGAROO COURT SAN ANTONIO, TEXAS 225-4098 ON REAGAN THE MAN AND HIS PRESIDENCY By RONNIE MUER “An extremely useful and an extremely frightening book.” Washington Post “Sheds much light on the Reagan record .. . No one who reads Mr. Dugger’s illuminating book will be surprised again at the insensitivity of Ronald Reagan.” Anthony Lewis, New York Times “It should be read by all who claim to be serious about what course this nation is going to take.” Houston Post Send us $20 and we will send yoU an autographed copy of Ronnie Dugger’s acclaimed book on Ronald Reagan. \(Postage included; Texas residents Name Address City _State ____._ Zip The Texas Observer 600 West 7th Austin, Texas 78701 BED & BREAKFAST CORPUS CHRISTI Take a break from the sameness of motel accom modations. Over 20 listings, many within walking distance of the water. Friendly, hospitable hosts. Breakfasts continental to Texas-size. Rates from $20. Sand Dollar Hospitality, 3605 Mendenhall, Cor house. Minorco controls Engelhard Industries, the New Jersey-based firm which long has been the world’s preeminent precious metals company, and Consolidated Goldfields, which in turn controls Newmont Mining. Newmont has major holdings in copper and gold, and also holds 30.7 percent of Peabody, the largest American coal company. A consortium of five companies owns Peabody. \(South Africa itself is now a big exporter of low-grade utility coal, supplying American utilities with substantial imports. American utilities generally buy coal from U.S. producers, but because of the low labor cost, foreign coal is increasingly competitive, and invariably is purchased in anticipaNow, through Inspiration Consolidated Copper, the Anglo group has positioned itself for a wider plunge into America’s natural resources. The complex maze works like this: Inspiration has an 80 percent holding in Danville Resources. Danville owns 71 percent of Madison Resources. Madison owns 33 percent of Arcata Corp. Arcata is the largest book printer in the U.S. \(McGraw-Hill, Simon & Schuster, the third-largest printer of magazines \(People, Time, Newsweek, U. S. News & World Report, Readers Digest, and one of the biggest printers of bibles. Arcata owns 77,000 acres of redwoods and Douglas fir in California. Through Consolidated Goldfields, Anglo American controls the Ortiz gold mine near Santa Fe, New Mexico, and is readying a silver mine at Shafter, Texas. The company reports discovery of gold in economically recoverable quantities in Imperial County, California. Charter Consolidated, yet another Anglo American investment affiliate, has acquired 51.2 percent of National Mine Service Co., the Pittsburgh mineequipment outfit. Through a complex cor porate maze, South African interests own a large share of the largest U.S. book printer. Since South Africa has no oil, Phibro’s position as a top buyer in the world spot market is of considerable interest. Anglo American affiliates have moved rapidly into oil and gas ventures in North America. Much of this activity is focused through Madison Resources and its string of energy affiliates: Trend, Vanderbilt, Adobe, Conquest, and Marline. Operations are in both the U.S. especially in the western mountains and in Indonesia. Marline is also developing a uranium project in Virginia. Anglo American obtained exploration rights in Canada’s Beaufort Sea as the result of the Hunt brothers’ splurge in silver. Engelhard had loaned the Hunts a reported $700 million toward silver purchases during the late 1970s. When the Hunts were called on their silver speculation by the Commodities Futures Trading Commission, Engelhard demanded repayment, and the Hunts came up with 20 percent interest in their Beaufort Sea exploration area. According to a study by the Africa Fund the best source of detailed information on Anglo American the Anglo group has 143 separate investments in North America: 106 in 32 states in the U.S., and 37 in Canada. Included are five investments in agriculture; 10 in the chemicals industry; 16 in energy; eight in marketing; 24 in manufactured steel; nine in construction; one in investment banking; five in minerals processing; eight trading companies; 10 holding companies; and numerous investments in unconnected industries. “Most people have no idea that U.S. corporations like Phibro-Salomon, Engelhard, Newmont Mining, and Inspiration are South African-controlled,” Michele Goodwin, an analyst in the international trade administration of the 10 APRIL 5, 1985