EXXON TURNS DOWN ENVIRONMENTAL INITIATIVES

Exxon Corp. shareholders last week handily rejected several environmental proposals presented at the company's annual meeting. The defeated proposals included the so-called Valdez Principles, placed before shareholders by Franklin Research & Development Corp., Boston. The meeting, held Apr. 25 in Houston, featured a number of shareholders speaking out on several environmental issues. However, attendees generally supported Exxon management, partly because of the large contingent of Exxon Co.

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