December 9, 1981

The Congressional tax-writing committees will begin considering Wednesday a bill that would double the $450 million in tax refunds from the Treasury now available to a company with a healthy $1.3 billion of capital and surplus. The corporation that would benefit from the bill is the Federal National Mortgage Association, a Government-sponsored company with 30,000 stockholders that is listed on the New York Stock Exchange. A former Federal agency, it buys bundles of residential mortgages from lending institutions and in that way replenishes their cash so that they can make more loans. The Treasury will support the new bill at the hearings this week, despite strong opposition from its tax staff, according to Treasury officials.

The Shell Oil Company was the high bidder yesterday - offering millions more than any other oil company - as the Government, for the first time, offered leases to drill for oil in deep-water areas at the outer edge of the continental shelf. Confident of its success in deep-water drilling, which requires highly advanced technology, Shell bid $320.7 million on 54 of the 253 tracts off the mid-Atlantic coast put up for leasing by the Interior Department. Shell was the high bidder on 41 of those tracts, for a total of $306.6 million. Shell's bids accounted for more than half of the $576.8 million in total bids submitted for the tracts. The Exxon Corporation was next with bids totaling less than $100 million.

A House-Senate conference committee, after more than a month of haggling, agreed today on a new farm bill that would cost taxpayers at least $11 billion in the next four years, mostly for commodity loan and subsidy programs. In addition, consumer prices for milk and peanuts would go up next fall. The compromise the conferees accepted, with angry dissent from Democrats, was a qualified victory for President Reagan in his effort to slow Government spending on nonmilitary items. But it appeared headed for trouble in the House of Representatives, since it includes sugar and peanut clauses that the House voted down in late October.

3 HIJACKED VENEZUELAN PLANES LAND IN CUBA (By The Associated Press) - Three airliners seized by Latin American gunmen over Venezuela Monday landed in Cuba yesterday with more than 100 hostages aboard. The gunmen were immediately taken into custody, the Havana radio reported. The hijacking ended with a flight from Panama, one of several stops, and the broadcast said the planes had arrived in Havana with 11 gunmen, 89 passengers and 19 crew members aboard. Passengers and crews are expected to return home today, the Venezuelan Minister of Information, Enrique Perez Olivares, said in Caracas.

Mayor Koch denounced the striking private sanitationmen's union and the trash-collecting companies yesterday as ''irresponsible'' for their failure to resume efforts to end the walkout, which is now in its second week. Talks in the dispute between the companies and Local 813 of the International Brotherhood of Teamsters broke down Monday with no progress reported and no further meetings set. One of the carting companies' major concerns is how large a rate increase the city will allow as compensation for any wage increases won by the union. In an effort to remove that roadblock, the Mayor said in a statement, ''We are prepared to hold a rate hearing as soon as the strike is settled to pass along the costs of the labor settlement to the customers of the private carting firms, as has been done in the past.''