Oregon daily emerald. (Eugene, Or.) 1920-2012, April 02, 1947, Page 8, Image 8

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    Night Extension Classes
Open for Adults April 1
Announcement of the opening of
night classes for adults for the
spring term, was made this week
by Lawrence M. Tomlinson, secre
tary of the state-wide extension
classes. Classes started Monday.
The courses, offered under the
general extension division of the
state system of higher education as
a public service to meet the inter
ests and needs of a community, in
clude work in the following fields:
art and architecture, arts and let
ters, education, English, industrial
arts, journalism, landscape archi
tecture, Romance languages, and
sociology. Many of the courses offer
college credit, with some providing
either graduate or undergraduate
credit. Any course may be taken
without credit.
Classes at the Eugene extension
center are scheduled for three
nights a week, Monday, Tuesday,
and Wednesday.
Net Profit $253
1. In 1946 the owners of Union Oil Company
made a total net profit of $8,867,023. Most of
us will admit that almost 9 million dollars is a
lot of money. But what many of us fail to con
sider is that those profit dollars were divided
among a lot of people.
2. For Union Oil Company is owned not by 1
man or 2 but by 35,012 individual Americans—
enough to fill a good-sized ball park. Divided
among that many owners, the net profits actually
averaged just $253.26 per common shareholder.
3* Even this sum wasn’t all paid out in divi
dends. $4,200,753 was left in the business. So
dividends paid out—money that actually went
to the owners—averaged just $133.28 per share
holder, or $11.11 per month. Wages paid out,
plus the cost of retirement and other benefit
plans, averaged $3,522.70 per employee, or
$293.56 per month.
4. In other words, while Union Oil Company
looks pretty big from the standpoint of all its oil
wells, refineries, service stations, etc., the com
pany is actually owned—and the profits shared
—by ordinary Americans like you and your
neighbor next door. 70% of these owners live
in the West.
5. There are 56 in Spokane, Washington; 10 in
Grants Pass, Oregon; 177 in Bakersfield, Cali
fornia, etc. 2,150 are Union Oil employees. The
average shareholder owns 133 chares—about
$2,900 worth on today’s market. Some own less
than this, some more; but the largest owns only
about 1% of the total shares outstanding.
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, and
without some such method of providing th.
necessary tools, American mass production
which is based on free competition could never
have been accomplished.
Th Is series, sponsored by the people of Union Oil Compa ny,
is dedicated to a discussion of how and why American busi
ness functions. Wc hope you'll feel free to send in any sug
gest ions or criticisms you have to offer. Write: The President,
Union Oil Company, Union Oil Bldg., Los Angeles U, Calif.