March 20, 1978

co to ask shareholders to approve issuance of 20 million shares of preferred stock and 40 million shares of common stock to raise funds for 5-yr capital improvement program (S)

NY Times/CBS News Poll of residents of Community School Dist 26, Queens, finds 61% of those questioned believe too much attention is being paid to minorities and efforts to eliminate racial discrimination, while 23% believe opposite; chart (S)

Is formed by group of Arab businessmen, including Sheik Ali al-Salem al-Sabah, Sheik Abdelaziz al-Sulaiman and Abdelwahab Galadari, and 3 former Smith Barney, Harris Upham & Co execs, Peter J Tanous, William A Hannah and Kenneth F Dolan, as investment banking co to recycle petrodollars; Tanous, co chmn, Hannah, pres, Dolan and former Asst Treas Sec Gerald L Parsky, whose law firm will represent co, comment on plans; illus (M)

Article on opening of 11 new Amer cities as internatl gateways for air traffic; holds new routes, coupled with proliferation of discount fares, are likely to reduce NY's dominance of trans-Atlantic air travel; increased competition, which will not cause decline in NY's air traffic, is expected to result in slower growth of its air traffic over next decade; map depicts cities with new nonstop service to Eur (M)

Tex asks ICC to reject Burlington Northern RR request to increase freight rate for coal shipped from Wyo to San Antonio from $11.94 to 18.23 a ton; Atty Gen John Hill estimates that direct annual impact of rate increase on Tex customers of industries and elec utilities that have already announced plans to convert to coal would be $250 million; says that if increase is granted, Tex will stop encouraging conversion from oil and gas; Sen Lloyd Bentsen and Repr Henry B Gonzalez oppose increase; Energy Dept has intervened in case on behalf of San Antonio, saying increase would make it cheaper to burn oil than to burn coal; Transportation Dept and Council on Wage and Price Stability support rr (M)