The Baytown Sun (Baytown, Tex.), Vol. 47, No. 149, Ed. 1 Wednesday, March 12, 1969 Page: 3 of 18
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St. I Wodnotday, March 12, 1969 9V lagtmw tan 3
Roll
student at the
Tulsa has been
can's Honor Roll
i 3.0 or better
11 course work
imester. Polly a.
Jhter of Leroy
Belvedere, is
isn’s Honor Roll
lity of Tulsa’s
bllege of Liberal
man is a sopho-
Most congolmerate an made
up of substantial, well-developed
companies with successful histo-
ries, mortared together by man-
agement, marketing awareness
and various securities and bor-
rowings.
In geology there Is a graphic
Illustration of the conglomerate.
It is a large, rounded boulder
made up of many smaller rocks
that have been shaped, honed,
rolled and ground together by
the great glaciers, and some-
Curioslty about such compa-
nies Is understandable, for they
an a new phenomenon whose
operating methods, goals and
even results, good as they may
appear on paper, an imperfect-
ly understood.
It is their rapid growth,
among other things, that causes
immediate concert. Last year
all records for morgen wen
shattered. The magazine Merg-
ers & Acquisition counted mon
than 1,800 with a valuation ot
By JOHN CUNN1FF
AP Business Analyst
NEW YORK (AP) - The
corporate conglomerates an
proving to be especially Irritat-
ed as they come under criticism
from Washington, from stock
market officials, from each oth-
er and even from their once ec-
static stockholders.
So sensitive an their stock
prices, for example, that recent
criticism has sharply deflated
the prices of some.
When does such a powerful
movement lead? What an Its
consequences to market free-
dom and prices? Are these com-
panies healthy?
An healthy companies being
merged into oblivion: Do con-
glomerates disclose enough of
their Internal activities so stock-
holders can make decisions?
An their methods of financing,
which Include much borrowed
money, dangerous?
maintaining the price of their
stock because that stock, after
all, Is what enables them to pur-
chase other companies. Price-
earnings ratios an all impor-
tant.
If, for example, a company
creates an aura of success the
stock market might reward It
by bidding, up the price of its
shares * to 35 times earnings.
This gives It much more lever
age in seeking acquisitions than
if its price-earnings ratio was
nearer the average of about 18.
On the other band, a falling
stock price puts tl|e conglomer-
ate in an especially difficult po-
For one thing, tt cannot grow
' as fast because Its stock won't
buy as much. And If tt ceases to
grow It loses Its glamor. Then
the problem compounds. It is
amazing how quickly stockhokl
era will abandon a company
1 with fading charm.
> It hasn’t happened yet, on a
1 large scale at least, but some
business observers foresee the
day when one conglomerate will
1 gobble up a weakened, defense-
less member of Ha own species.
That would be the ultimate
triumph, for Instead of getting
one company at a time the sur-
viving company might pick up
several dozen.
times called puddingstone.
about $23 billion.
Like any young, growing
body, the conglomerates are re-
sponding somewhat awkwardly.
Many conglomerates have
moke than casual concern about
Southern School Boards
Fight Government Prods
“A lot have a majority of Ne-
gro students and it frightens the
school officials, who fear de-
segregation will mean creation
of private school systems.”
The acting director, said part
of the problem was “confusion”
over federal desegregation
standards, including an unsuc-
cessful attempt last year in Con-
gress to sanction “freedom of
choice" desegregation plans.
The source close to Mrs. Mar-
tin said she believed desegrega-
tion momentum would be loot
WASHINGTON (AP) - The gia, Arkansas and Texas, were
federal Office of Civil Rights is among 340 asked last August to
encountering renewed resist- submit plans for "terminal" de-
an ce by Southern school boards segregation. The other 120 dis-
to its desegregation efforts. tricts have complied. —4
A source close to Ruby G. In contrast, similar letters
Martin said the resistance was wait out to 317 districts in Janu-
#a factor in her decision to refuse ary and February of 1988, and
re-appointment as director of all but about 50 complied, Hen-
the civil rights office. derson said.
Dr. Lloyd R. Henderson, act- The Nixon administration of-
ing director of the Office of Civil fered Mrs. Martin, a Democrat
Rights, said 220 districts—the appointed to head th| Civil
RAT REJECTS cable on left after gnawing for three days on the other one la a demon-
stration offering a solution to the multimlWon-doUar problem of rodent damage to
electrical and telephone wires. Left cable was treated with a new repellent—bioMet
12—which will repel rodent attack for np to five years, according to MAT Chemicals,
the manufacturer.
Permanent Press Pastel Co-ordinates
with the Koratronfinish from...
Koret of California
Illinois State U.
Will* Dig In Texas
AUSTIN (AP) - The Illinois
State University in Normal, IQ.,
will conduct archeological ex-
plorations at Ft. Leaton, south-
east of Presidio, under contract
with the Texas Parks and Wild-
life Department, the department
“for at-least a year” unless
there is “a clear statement or
sane very clear actions.”
Less than 10 days after taking
office, Finch cut off federal
funds to five Southern districts,
but gave them 60 days of grace
to work out an acceptable de-
segregation plan. One has since
filed a plan approved by the
HEW.
Finch took tougher action
Feb. 13, cutting off federal
funds to tone districts while|
making no provision for a grace
period.
The secretary has said he
would follow a policy “consist-
ent wito toe interpretation toe
President repeatedly expressed!
in the campaign." He cited re-
on, but she declined. She left the
government Friday, and Hen-
derson, another Johnson ap-
pointee, took over as acting di-
rector.
Mrs. Martin, who is a Negro,
said only that she felt she could
do more for her race outside the
government The informed
source said, however, that she
was apprehensive about GOP
campaign statements which toe
interpreted as indicating to the
South that the Republicans
would move more slowly on de-
segregation. - v >
COUNCILMAN DIST. 2
Pol *d paid for by Friendi of Abe Simon for City Council
announced.
The school will take recover-
ed artifacts to Illinois for study.
THURS.-fRL-SAT.
Her apprehension was height-
ened, the source said, by state-
ments made by Secretary Rob-
ert E Finch of the Department
of Health, Education and Wel-
fare, which administers the Of-
fice of Civil Rights.
Finch, while emphasising that
he would enforce the law, has
distinguished between segrega-
tion and discrimination, has
said he was reviewing desegre-
gation guidelines, and has been
critical of some HEW agents for
“overzealousness” in enforcing
ol lb* S. S.Krwsi*
dBotonSiand President Nix-
on have referred to a cut off of
(federal funds to non-complying
districts as "the ultimate weap-
SPCT Prex Touti
The Lowly Turtle
BEAUTIFY A RO
THIS WEEK
NEW Y0RK—(NEA)—The
roud eagle, long America’s
According to the champion
of the tortoise set, turtles
even played a key role in
World War H.
“The Germans have al-
ways been very fond of tur
ties,” he says, “tod during
The war they often tome to
the surface in U-boats and
“stopped fishing ships in or-
der to relieve them of their
turtle sup p l y. For awhile
tire situation was quite crit-
Even the Russians, who
are generally thought of as
being the bad guys these j
days, think more of turtles
than we do. Only recently
S o v 1 e t scientists revealed
that they sent a flock of tur-
tles on a pioneer mission
around the moon and back
to earth to prepare the way
for a manned flight.
^ White-and Hundreds of Colors
ACME FASHION-RIGHT
LATEX WALL PAINT
pruuu eagle, mug America s
official emblem, doesn’t de-
serve to be where he is to-
day, claims Andrew Paretti,
Tough and Durable!
PENINSULAR EXTERIOR
LATEX HOUSE PAINT
president of the SPCT (So
ciety for the Prevention of
Cruelty to Turtles).’''“The
eagle has had good public
relations,” says Paretti, “but
if the truth be known, Amer-
icans would insist that the
turtle take his place."
For years Americans have
been lionizing cats, dogs,
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well as eagles, but turtles
have been the brunt of jokes.
We concede that the humble
tortoise once whipped a rab-
bit in a race, but that’s about
it. Even bears and dolphins
have their own TV shows
these days, but’how often
do you see a turtle on the
• Dries in just 30 minutes.
• Resists peeling and blistering.
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• Cleans up easily with soapy water.
4" NYLON BRUSH
for a manned flight.
First a missile gap, then
a submarine gap, now a tur-
tle gap.
Paretti’s crusade to gain
the turtle his rightful place
in society is pretty much of
a one-man campaign at the
moment, but he thinks it will
catch on in time, which fig-
Money-Saving Special
ACME LATEX
HOUSE PAINT
Oar bg. 7.87
“It’s unfair,” says Paretti.
“If it weren’t for the tur-
tle, we probably wouldn’t be
here at all” >
According to toe story, Co-
lumbus (who may or may
not have discovered Ameri-
ca, but at least managed to
get a city In Ohio and a cir-
cle In New York named after
him) practically lived on
nothing but tnrtle meat.
“Ships of that era didn’t
have refrigerators," explains
Paretti, “so keeping fresh
meat on board was a prob-
WHW
and
COLORS
ONE
COAT
COVERS
Wash and wear Koratron b a definite winner! Resort la
H. Port to port in it. Whotwvor your racket this Spring
end Sommer, pul it off in a big way in Koret of CaWor
nie’s pastel co-ordinates. Easy coma, easy go Koratron
finish. The outdoor "IN" wear.
„ '• '
frap-troond calotte jftrirt 88m panto bi VMS I to f AH
veraie L& 11« H, average tad tal IV
SlWfw »,»**#*;»' oo|_ finraff —I ’ M
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Columbus and, eh, Leif Eric-
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Texas Tech Names
Assistant To VP
LUBBOCK (AP) - Bennett
Say "CHARGE IT"
Taka Up To 10 Months to Pay
Usa Your lay Fair Charge Plato
1801 N. PRUETT IN BAYTOWN
■1.
4-
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Hartman, Fred. The Baytown Sun (Baytown, Tex.), Vol. 47, No. 149, Ed. 1 Wednesday, March 12, 1969, newspaper, March 12, 1969; Baytown, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1057521/m1/3/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Sterling Municipal Library.