November 8, 1979

Pres Carter wins significant victory for his energy program when Senate, 57-37, rejects attempt to reduce investment he proposed in synthetic fuel development and to eliminate new corporation he wants to supervise program; bill is sponsored by Sen William Proxmire; Senate-House conference resolving Interior Dept appropriations bill agree to include $19 billion for first phase of synthetic-fuel program (M)

Pres Carter's press secretary Jody Powell denies reports that Iran has placed embargo on oil exports to US; says Carter Adm has created 'interagency task force' to review plans dealing with possible cutoff; says group, which is under Deputy Sec of Energy John C Sawhill, has recommended national energy conservation effort and temporary increase in domestic petroleum production; high Adm officials say world petroleum prices would increase 60% if Iranian oil exports were completely shut off; issue arose when Energy Sec Charles W Duncan Jr was quoted as having said that Iran had cut off supplies to US; illus of Iranian oil terminal at Kharg Island; US petroleum data noted (M)

Canadian corporations, fueled by record profits, have begun broad invasion of US on variety of economic fronts; areas of investment are diverse and include beer, metals and machine manufacturing; Canada now ranks as 3d-largest foreign investor in US; overall, Canadian investments almost doubled from $3.3 billion (Canadian) held in '70 to $6.1 billion (Canadian) held in '76; some recent attempts by Canadian companies such as Royal Bank of Canada, Dominion Bridge and Brascan Ltd to take over American companies noted; Canadian companies have also started to transfer ownership of American assets to wholly-owned subsidiaries in 3d countries in move to seek lower taxes; chart on Canadian investments in US, '70-78 (L)

Chase Manhattan Bank raises prime rate to record 15 1/2% from 15 1/4%; Reuss scores move, Chase pres Willard C Butcher defends it; no other banks join in rise, apparently for political reasons (S)

J Klemesrud article on opening night party for Bette Midler movie The Rose; Midler comments; benefit brought in $60,000 for Phoenix House drug rehabilitation organization; illus (M)