The Palm Beach Post from West Palm Beach, Florida on December 11, 1976 · Page 49
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The Palm Beach Post from West Palm Beach, Florida · Page 49

West Palm Beach, Florida
Issue Date:
Saturday, December 11, 1976
Page 49
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Page 49 article text (OCR)

Palm Beach Post-Times, Saturday, December 11, 1976-A9 Banks Cut Prime Lending Rate V V NATIONAL news IS estimated two months ago. Last year's wheat crop, which set the previous record, was only about 12 million bushels smaller than the 1976 harvest, the department said. No new production figures were announced for corn, the other major crop which will figure prominently in the U.S. food and export supply in 1977. Estimates for corn and other 1976 crops will be made next month. Officials said the new estimate, based on Dec. 1 surveys, was over 20 million bushels higher than USDA to the suspected loss and it could be higher. "The allegations deal with creation of fictitious and fraudulent trades and transactions for the purpose of avoiding tax liability," Skinner said. The "largest task force ever assembled in this district" will be employed in the investigation of the two big Chicago-based markets, he added. USDA Announces Record Wheat Crop WASHINGTON - The 1976 wheat crop was a record of almost 2.15 billion bushels, slightly above last year's harvest, the Agriculture Department said yesterday. SPECIAL GROUP 3jtrf $10S j hi 1 1 I I PER YARD j $JJ Jlabor included j j j Diamonds with a twist. Two twists, actually. First twists and swirls of 14 karat yellow gold, to please young ladies of every age. The second twist? Surprisingly modest price. A. $75. B. $175. C. $165. D. $150. Something Beautiful for Everyone. SM Use one of our convenient charge plans or American Express BankAmericard Master Charge OUT OF PAWN CUSTOM TAILORED IN OUR OWN WORKSHOP Antique Satins & Shun. Must be 65" to 117" long. For draw drapes, add SI. 00 per panel for findings. Have our decorator trained representative bring samples to your home. 3ANK AMERICARD 3 MERCHANDISE LESS THAN HALF PRICE CAMERAS SSnl MO" Polaroid $OO00 420 Movie Cameras uctto from 10 Projectors, 35 mm Cameras Binoculars Jacobs Fine Jewelers Since 1890 158 Palm Beach Mall West Palm Beach Also Jacksonville Orlando Merritt Island Tampa Daytona Beach Ft. Walton Beach TREE ESTIMATES CALL: 833-9706 or 833-7000 217 CLEMATIS ST. WEST PALM BEACH FOR THE HOME SEWER WE CARR. THE LARGEST SELECTION OF DRAPERY, UPHOLSTERY, SLIPCOVER AND DRESS FABRICS. 507 15th St., W.P.B. From Post Wire Services NEW YORK - A number of major commercial banks cut their prime lending rate yesterday, signaling a possible, though temporary, cut in the rates for mortgages. According to a spokesman for the United States League of Savings Associations, the prime rate cuts made by the Bank of America in California and New York's Citibank and Morgan Guaranty should be reflected in small reductions in mortgage costs "sometime at the end of the first quarter" next year. "But it will be only a V or Vz per cent drop" from the current national average of 8 per cent, said Herry Pierson in a telephone interview from Chicago. After the mortgage rates fall, Pierson said, "our people are expecting them to start inching up again later in the year" as loan demand grows. Administration To Ask For Missile Money WASHINGTON - The administration has decided to ask Congress for $277 million in 1978 research money on a new land-based nuclear missile - about half the amount Air Force hard liners wanted, administration sources said yesterday. Tin? debate on how to improve the U.S. missile force has been going on for some time and. according to military experts, surfaced in a series of recent leaks about increased Soviet strategic efforts. President Ford, the sources said, made the decision to limit the Air Force request of $548 million to "a prudent increase" of $277 million and did not change the existing timetable. Last year, the administration got $69 million in research money for a new guided missile, called MX, to replace the Minuteman Ills that were deployed in the early 1970s. At that time, officials said they would seek about $184 million for 1978. Package Bottleneck To Knd With Strike WASHINGTON - A Christmas delivery bottleneck along the East Coast will be resolved Monday when 18,000 United Parcel Service employes return to work following a 12-week strike, company officials announced yesterday. The striking Teamsters voted Thursday to accept a new contract, bringing to an end the lengthy strike that has delayed ire-holiday shipments in 15 states from Maine to South Carolina. Officials of United Parcel Service, the nation's largest private package delivery service, announced that full service will resume in the 15-state area Monday when striking workers return to their jobs. Company executives cautioned, however, that deliveries of packages from outside the 15 states may not be fully restored until the middle of next week probably by Wednesday. Investigation Ordered In lax Fraud Claim CHICAGO - A major task force of federal agents has been ordered to investigate charges of multimil-lion dollar tax frauds involving transactions on the Chicago Board of Trade and the Chicago Mercantile Fxchange, U.S. Atty. Samuel K. Skinner said yesterday. He said it was impossible to determine "the magnitude of any fraud that may have occurred" at this lime. The Chicago Daily News quoted one federal investigator as saying $10(1 million "would be close" PlMILfiaAKl'S ddi (time ffoir CMsliGMs! e e o btapedic caoirci mm SLEEP SETS &2 9 SALE STARTS TODAY! 9AM SHARP! West Palm Beach Store Only m 1 This Hhrktmac , s JA m I m I ft . ' , - i . ?:'A ' $'riy? ; t; V', , r' " - v ' V, ft W I f r pl I ( ( 1 I V J 1 ) ) A. yivu iiiiii something he really wants -a HOMELITE chain saw. " ! "I H " , j, t ! i , 1 ,1 ! ' rr I I - . Ill il Li'n : 4L if1 iwv 11 v t 5i I n M ft SALE HELD AT WEST PALM BEACH STORE ONLY Pullman's Furniture was offered a tremendous buy on this fine foam bedding. It is a complete truck load . . . but it is a one-time-only deal! These units are built to commercial specifications. They are very firm, and covered in a heavyweight, attractive, blue on white striped ticking. Borders are pre-built, crush resistant. Bears Ser-tapedic Hotel label, reserved by Serta for contract Hotel-Motel orders. For immediate delivery ... no hold orders. Buy yours at your earliest convenience to be sure! The Homelite factory representative will be here Dec. 1 1th from 10-5 to demonstrate and answer questions about Homelite Chain Saws. -SMITTY'S SERVICE SHOP 3468 Military Trl. laki Worth One Block North of Sears Town 2821 South Dixie Hwy. 965-1181,

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