Image provided by: University of Oregon Libraries; Eugene, OR
About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (April 18, 1946)
Today's World Chinese Communist troops pene trated deep into Changchum and compressed Nationalist troops into a small corner of the city. The house of representatives passed legislation to limit the life of the OPA to nine months and prohibit the setting of price ceil ings which do not give producers, processors, distributors, and re tailers "reasonable profit.” General MacArthur bluntly re plied to Russian criticism from the four-power Allied Council by say ing that consideration of his past actions in administering Japan was no part of its job. President Truman conferred privately with Navy Secretary James V. Forrestal and Admiral Chester W. Nimitz on his service merger plan after delivering a second tongue-lashing to navy men for criticizing the plan. There will be plenty of nylons on the market soon, according to OPA Price Chief Paul Porter, but present shortages of butter, men’s shirts and suits, and lumber will continue for several months. Easter Service Set For 6:45 Sunday Easter Sunday at 6:45 will mark the beginning of Eugene’s Sunrise service, presented annually for all creeds and denominations. Music for the service, which will be held in McArthur court, will be by the Eugene high school choir. Rev. E. W. Warrington, head .of; the Oregon- State college depart ment of-religien’, will be the prin cipal speaker:- XhR-'PauJ Means, head of the University religion de partment, will, also deliver a message. K The Student .Religious,,.council and the Eugene. Ministerial as-, sociation are jointsponsors of thjj^ 1946 sunrise service, a Eugene feature of the last decade. Union Oil Owners Net Profits Average *258 in ’45 1* In 1945, after meeting their obligations, the owners of Union Oil Company had a net profit of $8,747,992. Now most of us will admit that 8% million dollars is a lot of money. But many of us don’t realize that Union Oil’s profits like America’s taxes —are divided among a lot of people. 4. In other words, while Union Oil today con sists of about 154 million dollars’ worth of oil wells, refineries, service stations, etc., the com pany is owned—and the profits are shared—by ordinary Americans like you and your neighbor next door. 2. For Union Oil Company is owned not by 1 man or 2 but by 33,938 individual Americans — enough to make a city almost the size of Santa Barbara, California. Divided among that many owners, the net profits actu ally amounted to just $257.76 per stockholder. 5* 76% of these owners live in the West — 62 in Spokane, 8 in Grants Pass, Oregon, 190 in Bakersfield, Calif., etc. 2,155 are Union Oil employees. The average stockholder owns 137 shares. Some hold fewer, some more; but the largest owns less than 1 }i% of the total shares outstanding. 3. Even this sum wasn’t all paid out in divi- ~* dends. $4,081,722 was left in the business. Divi dends paid out—money that actually went to the owners —averaged just $137.49 per stockholder — $11.46 per month. Wages paid out averaged $3,283 per employee — $274 per month. ^cjj 6. So it is not the investments of a few million aires, but the combined savings of thousands of average citizens, that make Union Oil —and most American corporations — possible. Without some such method of financing heavy industry, Ameri can mass production, with free competition, could never have been accomplished. UNION OIL COMPANY OF CALIFORNIA Those desiring more complete information on the material in this advertisement may refer to the formal Annual Report to Stockholders and Employees which we will gladly furnish on request. We would also appreciate any comments or suggestions. Write: The President, Union Oil Company, Union Oil Bldg., Los Angeles 14, California. AMERICA'S FIFTH FREEDOM IS FREE ENTERPRISE