European Stars And Stripes (Newspaper) - April 7, 1987, Darmstadt, Hesse                                Page 4 the stars and stripes tuesday april 7,1987 supreme court rules against Texaco Oil company May have to Post s11 billion Bond Washington a the supreme court Rule monday thai t Federal judge mistakenly excused Texa co inc. From posting a potentially ruinous Iii billio Bond in in court Bailie with Pennzoil co. By a 9-4 vote the justices overturned a Federal court ruling that Texaco need put Only j t billion in Security while the Case h pending in the courts Bill monday ruling left open the possibility thatt Euco could avoid posting the til billion Bond through a successful Appeal in Texas state . District judge Charles Brient in White Plains ., should have abstained from decreeing reduction in Texaco i Bond said Justice Lewis f. Powell for the court. Powell said Federal judges should not Rule in such cases until state courts have the Opportunity to review the Issue raised he said the constitutionality of the $ 11 billion Bond which Texaco said could drive it out of business is est left to the Texas courts for now. We cannot say that those courts when ibis suit was filed would have been any less inclined than a Federal court to address and decide the Federal  Powell said. Pennzoil spleen Nan Mickey Gentry said we Renot going to make any comment until we Sec the Deci Sion. We Haven t seen the actual decision yet but of course we re very  a lawyer for Texaco Max r. Shulman had no immediate comment. A state court jury found in 1985 that Texaco improperly interfered with Pennzoil s planned acquisition of an interest in Getty Oil co. The jury awarded Pennzoil $11.1 billion against Texaco the appeals court reduced the jury award to $8,3billion. But with interest payments the total amount owed by Texaco is approximately $11 billion Texaco lawyers said. Texas like most stain requires the losing aide i such cases to Post Bond to protect the winning Side. Texas requires a Bond roughly equal to the judgment before the losing Side is permitted to Appeal. Lawyers for Pennzoil which is based in Houston accused Texaco of going to Federal court in while Plains  Where Texaco is bated in an Endrun to avoid the Texas court ruling. Brient ruled that a Bond equal to the amount of it Ejury award could drive Texaco out of business effectively denying it the right to Appeal. There has been speculation that a supreme court ruling favouring Pennzoil could pressure Texaco int settling the Case. A Texas appeals court last february upheld most of the Multi gluon Douay award against Lewico Getty and Pennzoil announced Jan. 4. 1984, a agreement in principle to merge. Two Days later Texa co reached an agreement to acquire Getty. Texaco argued that there was no evidence that the company knew of any contract Between Pennzoil and Getty. Pennzoil insisted that Getty and Pennzoil had a agreement and that Texaco was aware of it. In monday s ruling the supreme court did not de cide whether state Laws that require the posting of such Large Bond Are constitutional. We express no opinions on the claims Texaco has raised. Nor on the possibility that Texaco now could raise these claims in the Texas courts Powell said today we decide Only that it was inappropriate for Brien to entertain these  in other cases the court said a Federal Law protecting workers retirement and disability  bars those workers from suing under state Laws when disputes Over benefits arise. The justices unanimously ruled that workers who contend they Are being shortchanged on benefits May not use stale Laws to allege improper handling of Bene fit claims. Rejected an Appeal by a Chicago Man who face deportation for concealing his role As a nazi concentration Camp guard before world War ii. The court without comment let stand a ruling tha Conrad Schellong 77, May be deposed although there is no evidence he took direct part in any prison Cam brutality. Rejected an emergency request by a Western air lines Union and refused to interfere with the s860 Mil lion merger of Western with Delta air lines. The court without any recorded dissent let Staddan order issued wednesday by Justice Sandra Day o Connor that cleared the Way Lor the merger refused to hear a Challenge by animal right groups to the treatment of monkeys used in Laboratory  court without comment let stand a ruling in a Maryland Case that private citizens May not Cue laboratories receiving Federal Money and covered by Feder Al regulations. The Pennzoil Case is Pennzoil is. Texaco 83-1798. Ga4 keeps its no i ranking on Fortune 500 list new York ult general motors corp. Is no. 1. Despite a year in which its principal rival produced better earnings general motors strengthened its grip on the no. Spot on the Fortune 500 list As the nation s largest Industrial company in Magazine said monday. The automaker posted 1986 sales of 102,8 billion a 6.7 percent gain Over the previous year s $96.4 billion. Exxon corp., the world s largest Oil company ranked no. 2 on the list for the second consecutive year with 1986 sales of $69,9 billion. The 1986 Fortune 500 corporate America s Best Sellers reflected the sagging fortunes of big Oil companies an the strength of Auto sales. In 1981, 12 of the lop 20 companies on the list were Oil companies including four of the top five. This year Only 7 of the top 20 represented the Oil Patch. Ford motor co. Moved into the third position with 1986 sales of $62,7 billion replacing Mobil Oil corp., which fell Tono. Son talks of $44.9 billion. International business machinescorp., with sales of $51.3 billion moved into the no. 4 position its highest rank ing Ever on the Fortune 500 list rounding Oul the top 10 Genera electric $35.2 billion in sales american Telephone & Telegraph $34 billion Texaco $31.6 billion Dupont $27.1 billion and Chevron $24.4 billion. Chrysler moved from no 13 to , its highest position on the list since 1978 big Oil s decline was dramatic. Texaco dropped from no. 6 to no. 8, Chevron from no. 7 to no 10, Amoco from no.11 to no. 13. Shell from no. 14 to no. 15, and Atlantic Richfield from no. 12 to no. 20. Only Exxon held its position although it suffered a 19,4 percent de Cline in earnings Fortune  Morris and Rwjr Nabisco made Strong advances Philip Morris jumped10 no. 12 from no. 27, and Rwjr Nabisco climbed to no. 14, up from no. 23.two other companies rejoined the lop 20. Boeing was no. 16, up from no. 21,and Procter & Gamble moved to no. 18, up from no. 21."the effects of restructuring continued to Ripple through the tanks of the industrials which Gist year employed 600,000 fewer workers than they did in1985," the Magazine said. In addition other companies disappeared from the list thirteen were Swal Lowed up by other 500 companies and12 went private As a result of leveraged buyouts. Al the same time 33 new companies appeared on the list. One third of the Fortune Soo Compa Nies reported lower sales in 1986 than in1983. Total revenues of the Soo declined the Magazine said dropping percent to j 1.7 trillion from a record s 1.8 trillion the year before. The cutout figure to make the 500 list also declined. Rochester & Pittsburgh Coal based in Indiana pa., and ranked no 300, had annual revenues of $420 million some $4 million below the 500thcompany in 1985. Among the states. New York Illinoisan California repeated As the no 1, no. 2 and no. 3 Homes for the Fortune 300.sixty-six of the Soo companies Call new York stale their Headquarters Dow from 75 last year with 50 based in Illi Nois and 38 based in  qualify As a Fortune 500 Industrial More than hair of a company s sales Mustbe derived from manufacturing or min ing. This year s list appears in the mag Azine s april 27 Issue. Vandals paint Graffiti on Lincoln s Tomb Springfield. Ill a Vandala Spray painted racist slogans and Symbol son Lincoln s Tomb Over Ibe weekend but state officials monday said they Hope to have the Graffiti removed by next week s anniversary of his assassination. The Rcd and while Graffiti inscriptions which cover about two Thi is of the Monument s West Side were discovered sunday and were part of wider vandalism in the Oak Ridge cemetery police said it says White Power and there s flaming Cross and things you could t print in the paper said Nan Wynn site supervisor for the Illinois historic preservation Agency which oversees the Tomb. Wynn said testing la find hib to method for removing the paint would begin immediately with the goal of re moving the Graffiti before april 14, the 122nd anniversary of Lincoln s assassination. Police spokesman Mike Murphy said the vandalism appeared to be the work of High school students who also painted first names on the Monument and made several references to 1987, apparently indicating a graduation year. The vandals apparently climbed Over the cemetery Fence and broke or knocked Over 33 tombstones in the oldest Section of the cemetery. Murphy said. They also painted Graffiti near the Entrance to the cemetery. Lincoln his wife Mary Todd and three of his four sons Edward William and Thomas arc buried in the Tomb which draws about 300,000 visitors each year. The other son. Robert is buried in Arlington National cemetery. Cops april fool sting puts 11 Back in prison Philadelphia a a april fools Day letter promising Cash to former prisoners persuaded 11 people to show up at a prison where they were promptly put behind bars again according to police. The letter told the suspects the fictitious Philadelphia prison reimbursement fund owed them up to $475 for their earlier incarceration Potick said. When they appeared at the Phila Delphia detention Center on sunday detectives booked them on outstand ing warrants including charges of robbery burglary and aggravated As Sault police said a couple of them laughed after the initial Shock wore off said mar tin Dieltz the detective who organized the sting. He said the in Tom which Wen dated april 1, were sent to 90 hard to find suspects at their last known address and to relatives and associates Dieltz said 15 men responded but two failed to show and two were arrested on other charges before sunday Dictz said the idea for the Sling came from police in Denver who netted 67 fugitives in january by of Fering free football tickets. Dietz said the suspects who an swered generally had been offered More Money than How who did t