The Courier-Express from Dubois, Pennsylvania • Page 18

Page Eighteen tttfc COtrftffcK-EXPftESS, fcuSois, Cleaffield, Jtffefsoft aftd Elk County fhut-sday, AfiHI 10, Consumer Confidence Uncertain By JOHN AP Business Aftaljst NEW YORK '(AP) Administration officials profess to seeing signs that the worst of the recession is coming to an end, but so far no element of economic society seems to be deriving inspiration from the vision. Consumer confidence is said by the pollsters to be on the rise again, but you won't find convincing evidence of this in some parts of the marketplace. Domestic automobile sales slid in March, following the ending of some rebate programs, and analysts of that industry now say that sales at bargaining prices during February came at the expense of midsummer sales. In other words, people who already wore point; to buy cars moved up the date of purchase. That removes them as future sales prospects, and car dealers now wondering what they'll have to do in order to create sales enthusiasm later this spring.

Consumers continue to pare their debt. Installment loans are being paid off and new commitments avoided. (he tax rebate changes this trend remains to he seen. Business also is slow to spend. Capital spending plans are lower than they were a year ago.

which silliest some corporation ijoinij to sit back and wait for a resumption of demand before committing dollars. The stork market surge Deemed It) spread confidence, for a while at least, but many analysts now have turned cautions, fearful of what they euphemistically call a correction. Sizeable profits were made on paper, and now there is distinct feeling among some institutions that they had better nail down those profits now before their com pefilors (ake (heirs. Thai type of thinking doesn't support a stock market advance. Attention Brockway Area Readers: 3Tbe Courier NEWS ITEMS AD COPY ACCEPTED DAILY at MOODY VARIETY STORE Brockway Perhaps the biggest cloud in the sky is that big federal deficit.

While all sorts of arguments have been advanced as to why the deficit won't be a disruptive force, no! many people appear convinced. The fears are these: -A credit crunch, resulting from the big demands made in the credit markets to finance the deficit. interest rates, for the same reason. A resumption of inflation sometime in 1976 because of heavy federal spending. None of these is a certainty.

All are probable. Not knowing just what to expect, both consumers and business seem therefore to have more than the usual amount of doubt. "Now even more than last year," say economists at the University of Michigan, "The most important factor for consumer confidence is the degree to which consumers become convinced that the government's policy will be successful in bringing the economy out of recession." All eyes are on Washington. The latest Michigan consumer survey shows that "Confidence in government, declining for a decade, has recently declined at an accelerating rate." Washington has to prove itself. About 4.5 billion years ago the earth was formed from the same interstellar gas cloud that gave birth to the other planets of the solar system and the sun.

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comedy, drama, sports, talk shows. See and hear the Sony Entertainers today. Today the spotlight is on this Sony Entertainer: TFM-9430W table radio, resting on graceful pedestal base Component quality circuitry and la'ge speaker for deep, rich sound Push-bylton AFC and band selection Long slide rule tuning dial 39,95 "ITS A SONY," LEITZINGER'S JIM CLEARFIELD Says Soviets Behind Fischer Loss Of Title MANILA, Philippines (AP) "Soviet pressure" forced the International Chess Federation (FIDE) to strip Hobby Fischer of the world chess crown and award it to Soviet grandmaster Anatoly Karpov by default, a Filipino chess official said today. Florencio Campomanes, deputy president of FIDE, said the Soviets pressured some federation delegates at a meeting March 18-20 in the Dutch city of Bergen to reject one of Fischer's conditions before playing Karpov a rule that would declare the defending champion Ihe winner if the match reached a 9-9 tie. FIDE awarded the world chess title to Karpov on Thursday after Fischer failed to send word he would play the Russian challenger under rules voted by the federation.

Campomanes' accusation apparently was a reaction to Soviet charges that Fischer was incapable of defending his title. "The Soviet chess federation knew that without the 9-9 rule, Bobby would not play, and that it could regain the world title with a paper champion," Campomanes said. Ho said Fischer "gave them the title on a silver platter. "One Middle Eastern delegate was invite'd to Moscow just before the Bergen meeting in an effort to convince him not to vote the Fischer proposal," he said. "Another Asian delegate was visited in his home on a Saturday and a Sunday by Soviet diplomatic officials.

Another independent-minded Scandinavian delegate complained of so much Soviet pressure in his own city so that he reacted violently and voted against the Soviet advices. "How many others were pressured but could not speak out for fear of a boycott by Soviet grand- masters we will never know." PORTLAND, Ore. (AP) Sisters Paula Hammel and Glenda Keller delivered firstborn daughters within hours of one another at Portland's Woodland Park Hospital. Mrs. Keller, 23, entered the hospital at 7:30 a.m.

Monday and gave birth to Theresa Mae 7 pounds, 11 ounces at 8:30 a.m. Tuesday. Mrs. Hammel, 26, arrived in the labor room at 10:30 a.m. Monday and was delivered of Patricia Ann 8 pounds, 13 ounces by caesareah section at 9:30 p.m.

the same day. When the dam brokeai Buffalo Creek, West Virginia, a lot of people weren't as lucky as this little guy. Jamie and the rest of the Mosley family made it up the hill just in the nick of time. Seconds later, a wall of water swept all their earthly possessions away. Here you sec Jamie in the Red Cross shelter, thinking it all over.

One look at that face, and weVe awfully glad we were there to help. Every year, you knpw, Red Cross touches the lives of millions upon millions of Americans. Rich. Poor. Average.

Black. White. Christian and Jew. With support. With comfort.

With a helping hand when they need it. So when you open your heart, with your time or your money, you can be certain its in the right place. Cross, The Good Neighbor, Fiw American Businsssmin Leavs 6y JOSH PitZHtlGH AP Business Writer NEW YORK JAP) Many American businessmen in South Vietnam are working on a day-to-day basis amid the worsening political and military situation, their home offices report. Few if any businessmen have left Saigon, where the American-owned companies are based, although some dependents have been evacuated. For the most part the Vietnamese subsidiaries are staffed with nationals.

Only a few American managers remain and French and Dutch citizens run other U.S. firms. "We're taking a wait-and- see attitude," said George Calfo, executive vice president of American Trading an export import firm which has operated in South Vietnam for more than 20 years. WASHINGTON (AP) World milk production is expected to continue climbing this year at its annual rate of increase of one to two per cent, says the Agriculture Department. A report by the department's Foreign Agricultural Service said further today that European Common Market countries, which historically have looked to the United States as a potential dumping ground for dairy surpluses, are showing signs of stepping up milk production again after holding 1974's increase to less than one per cent.

The report said it appeared "highly unlikely" that Common Market dairy production would remain stagnant in 1975 in view of recent and prospective milk price support increases for European farmers. "We have no plans to evacuate or to close our office. Nevertheless, things arc serious." Calfo said Monday that Amtraco's Cambodia office was in (he process of being closed. "We wouldn't say business there (Viet Nam) is normal, but as of today the branch is open," said a spokesman for New York's First National City Bank, which maintains a Saigon branch with 20 employes, including three Americans. Exxon Corp.

and Caltex Petroleum which market gasoline in the country, said operations were continuing. Exxon said American employes' dependents were evacuated a week ago. Mobil Oil Corp. said its oil rik in the South China Sea was still operating. "We're monitoring the situation," a spokesman said.

IBM said a sales and service subsidiary there intended to remain "as long as conditions permit." It was not immediately known how many American businessmen are still in South Vietnam and the U.S. Commerce Department has no figures on U.S. private investment there. A Bank of America spokesman in San Francisco said, "We're not planning to close the branch in Saigon. Everyone in the American community is very observant of developments, but that's as far as it goes." Lincoln Brownell, president of Browhell-Lane another export-import firm, was flying back to Saigon on Tuesday with his wife to decide whether the company could remain in operation.

His son said Brownell remained optimstic. PLEASANT, CLEAN ROOMS PER Maid Service, Linens Provided Laundry facilities on premises. Convenient location in DuBois, near but not in downtown. Dormitory style rooms with two beds. Full security service.

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