Oregon daily emerald., April 13, 1951, Page Six, Image 6

UO Students Substitute
For Local Disc Jockey
Five KWAX staff members have
taken over a disc-jockey program.
The five, Dick Hardie, Ed Rag
azinno, Bob Scott, A1 Hicks, and
Bob Peterson, will pinch-hit for
Don Porter on his Swing Soiree
show while Porter is on vacation.
The show is aired over KUGN at
10:45 p.m. Monday through Fri
day, and at 9 p.m. Saturday.
Atom's Weekend jChairman\Called
Monday has been set as the dead
line for petitions for general chair
man of Mother’s Weekend. Peti
tions should be turned in at the
ASUO office in the Student Union
by 5 p.m.
Petition blanks may be obtained
in the ASUO offices or at the Of
fice of Student Affairs, Emerald
Hall.
Mother's Weekend will be held
over Mother's Day weekend, May
11, 12, and 13. The event takes
place each year at the same time
as Junior Weekend.
Less than 50 per cent of the
total state revenue comes from
taxes.
Program to Feature
German Songs
Tho Cosmopolitan Club will fea
ture German songs by German stu
dents at a social meeting at 8 p.m.
today at Plymouth House next to
the Congregational Church.
Refreshments, dancing, and
games will also be offered. All mem
bers of the Cosmospolltan Club,
and their guests may attend.
Bowling Movie Slated
For SU Next Week
"Howling Aces" will bo shown In
room 11 In tho Student Union Mon
day through Friday at 4:30 and 7
p.m. Tho niovlo Is sponsored by the
8U recreation committee, and no
admission will be charged.
Who Is the ugliest man on tho
Cumpus
Union Oil 1950 profits
8% of total sales
32% for Raw Material*
1* Id I960 Union Oil Company took in f217H
million from the sale of its products. $68%
mflflon went right back out in payment for
raw materials.
16% for Wages and Salarios
2m $363*6 million went to oar 7,826 employees
in wages, salaries and benefits.
(Salaries of company officers constituted about
IX* of this.)
171 tor Suppose; n tor ransponanon
3. $37 mflHon went for supplies, rent, tools,
utility bills and other costs of doing busi
ness. $17 million went for transportation.
m for DtpMon and Depredation
4* $27 million went for depletion and de
predation—to find new oil to replace the
erode used during the year and to replace
worn-out and obsolete equipment.
AX for Tax** B for total**
5. Federal, state and municipal taxes took
$12H million.* CDtis does not include gaso
line taxes.) Interest on borrowed money
amounted to $2K million.
*Hteae taxes amount to 11% more than all divi
d««fa paid to our stockholders and equal more
than y% ot our total payroll.
SVk% for Dividends
6« This left a net profit of %VTbi million
(8%). $11M million of this profit was paid
out in dividends to our 88,095 preferred and
common stockholders. Payments averaged
per common stockholder.
2tt% for Expansion
7. The remaining $5% million of profit was
set aside to replace and expand our oil fields
and facilities in 1951.
But huru's the rub: In order to meet the
requirements of the present national emer
gency, we estimate that we should spend
$25 million drilling during 1951. We should
spend $20 million on new refining facilities.
We need $5 million for a new tanker. And
we need about $3 million for pipe lines, stor
age facilities, etc. This totals $63 million.
Our estimated 1951 reserve for depletion
and depreciation w ill amount to $30 million.
This, plus our $5% million plowed back from
1950 profits, totals only $35% million. There
fore, we’re going to have to earn and retain
about $17% million more this year than we
did in 1950—assuming there is no increase
in dividend requirements. That’s why tax
policies that don’t permit corporations to
retain earnings earmarked for needed ex
pansion can have such far-reaching effects
on the productivity and economic growth
of the nation.
union oil company
Off CALIfOANIA
INCORPORATID IN CALIFORNIA, OCTOBIR 17, 1890
This series, sponsored by the people of Union Oil Company,
is dedicated to a discussion of how and why American busi
ness functions. We hope you’ll feel free to send in any sugges
tions or criticisms you have to offer. Write: The President,
Union Oil Company, Union Oil Bldg., Los Angela 17, Calif.
Manufacturers of Hoyal Triton, the amazing pnrple motor oil.