Page 14-Wednesday, July 23, 1980-The Michigan Daily -.-.- Exx on nets Eii $1 billio i second quartert NEW YORK (AP)-Exxon Corp. reported a $1.03, billion profit in the second quarter yesterday as higher crude oil and natural gas prices and rising foreign refining earnings helped boost net income 24.1 per cent from levels of a year earlier. The world's largest oil company said its quarterly earnings were restrained by $314 million in foreign- exchange losses as the dollar, weakened on currency markets, and by a slight decline in profits from domestic refining and marketing divisions. EXXON'S SECOND QUARTER earnings com- pared with an $830 million profit in last year's second quarter. Per-share'earnings rose to $2.36 from $1.88, and sales rose to $26.2 billion from $18.6 billion. In4he first half, Exxon earned $2.96 billion, or $6.76 a share, against $1.79 billion or $4.04 a share, a year before. Sales rose to $53.9 billion from $37.4 billion.. Exxon's 25.5 per cent second-quarter profit in- crease was a sharp reduction from the 102 per cent gain it recorded in the first quarter of this year as its earnings totaled $1.925 billion. THE FIRST-QUARTER profit increase included a $368 million foreign-exchange profit. But Wall Street analysts say other oil companies also are likely to report a slowing of earnings gains in the second quar- ter as the U.S. recession and a buildup of world oil in- ventories eat into refiners' profit margins. U.S. gasoline use .is running about 10 per cent behind last year's levels, and refiners' inventories have mushroomed as a 140 per cent world oil price in- crease over the past 18 months has curbed demand. Exxon said domestic refining and marketing operations earned $29 million in the second quarter, agaisnt $30 million a year earlier. Overseas, however, refining and marketing earnings rose to $473 million from $145 million. Kiarsmen acquitted in shootingi CHATTANOOGA, Tenn. (AP)-An all-white jury acquitted two Ku Klux Klansmen and gave a light sentence to a third yesterday in a case involving the shooting and wounding of four black women on a Chattanooga street. The verdicts pronpted a cry of outrage from blacks. MARSHALL THRASH, 30, a "weekend alcoholic" who went "beserk" and started shooting because no one paid any attention to two burning crosses he had ignited in a black neighborhood, was con- victed on three counts of-assault and battery and a fourth count of simple assault. Thrash, who was fired from his job as a telephone installer after the shooting incident, was given sentences totaling 20 months. Criminal Court Judge Joe DiRisio plans to rule in 30 days whether the sentences would run consecutively or concurrently. William Church, 23, a self-proclaimed Imperial Wizard of the Justice Knights of the KKK, and Larry Payne, 26, of Rossville, Ga., were acquitted. ALL OF THE men had been charged with foqr counts of assault with intent to commit murder, a charge that carried a maximum sen- tence of frorm five years to life. Church breathed a sigh of relief at-the jury's verdict and tears- welled in his eyes. Payne was emotionless.."I'm just happy with the verdict. I was innocent," Payne said. Following the decision, angry blacks, including some of the vic- tims, stood in front of the Justice Building. One man screamed above. television cameras that "I think the whole damn justice system is wrong. I think Chattangooa has been bought." Harry Hill, who identified himself as the spokesman for a black group called Youth Coalition, said the jury's verdict went against the evidence. "It shows how they consider black people. They consider us niggers," he said. , ., FREED HOSTAGE RICHARD Queen is greeted Monday at the State Depart- ment in Washington by well-wishers with signs, applause and a reception. Secretary of State Edmund Muskie is to Queen's right. Iranian militants released the former University student recently for health reasons. Get The Scoop "Di Queen tells of hostages WASHINGTON (UPI) - Former hostage Richard Queen yesterday had a "lighthearted" meeting .with families of other captives still in Iran and reassured them about the conditions of their loved ones, but said it was a time to "praya lot." Queen, who was released two weeks ago, met for nearly an hour with 43 family members. He then had five- minute private sessions with each of the 17 families represented at the State Department session. MEANWHILE, PHYSICIANS at Georgetown University Hospital con- firmed yesterday Queen is suffering from multiple sclerosis and that "multiple areas of the nervous system" are involved. Queen was ordered released by the Ayatollah Khomeini for "humanitarian" reasons after it was determined he needed medical atten- tion unavailable in Iran. Several family members said Queen's remarks were "reassuring," but that he was unable to offer new hope the hostages will be released. LOUISA KENNEDY, wife of hostage Morehead Kennedy, later said the relatives' principal worry is physical harm to the hostages. ,queen was, asked what .morethe to pray families could do to win the release of the hostages, she said, and quoted him assaying: "Pray a lot." She said the hostage relatives were reassured by Queen's descriptions. "That is at least one anxiety that is lessened." She described the mood of the meeting as "lighthearted." KENNEDY SAID Queen described basically one day in the life of a hostage, and that the information generally squared with the picture pieced together from earlier letters from the hostages. Since the April 25 unsuccessful hostage rescue mission, mail has drop- ped off to a trickle, with only 14 hostage letters being allowed out in the past two months. "The thing I hold the students mainly responsible for is using mail as a weapon," Kennedy said. "They are un- necessarily punishing people by withholding something that's very im- portant to them. "I don't think it is in the power of this government to get the hostages out. It is up to Iran to finda solution." Queen underwent three days of tests at Georgetown. A medical team headed by Dr. Desmond O'Doherty said the 28- year-old former vice consul is ex- periencing a mild lack of coordination but "his mental state is excellent." Subscribe to the Itt iWn JtE jJ