Tampa Bay Times from St. Petersburg, Florida • 3

St. hltbi9 Tlm, Tmidoy, Moy tt Japan Reserves Dip Seen serves in medium- and long-term investments abroad, to permit Japan to "untie" its foreign aid now linked to sales of Japanese goods, and to empower the international trade minister to Issue virtually binding "advice" to industries whose exports are Increasing too rapidly, Tanaka said. Unlike the June 1971 eight-point "yen defense" program, which failed to forestall a 16.88 per cent revaluation in December, the new seven-point plan "cannot fail," Tanaka said. He staked his personal political future on making the new plan work without revaluation. The 54-year-old politician is one of two leading contenders to succeed Premier Eisaku Sato, whose term exnires in October.

a total of $8-billion from foreign banks to gain the advantage of lower interest rates overseas. The Bank of Japan has announced that it will lower the official discount rate and is now studying whether the slash will be ,5 per cent or .75 per cent. Either reduction would push Japan's discount rate, now 4.75 per cent, below the 4.5 per cent rate prevailing in the United States and hopefully induce Japanese firms to borrow at home. Tanaka said the new seven-point program would reduce Japan's foreign reserves, which stood at at the end of April, by at least $5-billion and possibly as much as $6-billion. A DIVISION of domestic laws would be sought to allow the use of foreign re Los Angelei Timn Service TOKYO Kakuel Tanaka, minister of international trade and industry, predicted here Monday that Japan would reduce its foreign reserve holdings by at least $5-billion.

"We will not have another revaluation (of the yen)," he declared. Speaking In a rare press conference called for foreign correspondents, Tanaka said a pending government decision to lower the official bank discount rate and thus push private bank loan rates down would be a key measure in a new seven-point "yen defense" program. The plan is to be formalized by the cabinet today. TANAKA said private Japanese firms had caused the nation's foreign exchange holdings to become inflated by borrowing fit Ulster Car Blast Injures 60 the drive, which was to go on for eight days. WARNING OF the Jenny-mount bomb came when a telephone caller said gelignite had been dumped inside the factory and would explode in 30 minutes.

Instead, the bomb went off 10 minutes later in The explosions came one day after a "peace pledge" drive at Catholic church services. Churchgoers were asked to sign a pledge to reject violency and pray for peace. "At least 95 per cent signed," one organizer said of UPI Indian Heat Wave Creates Liquid Commodity reported at Dhanabad, about 175 miles nest of Calcutta. Twelve out of India's 21 states are in the grip of the heat wave. They account for nearly three-fourths of India's total land mass.

A New Delhi vender dispenses drinking water Monday as the toll in the Id-day heat wave sweeping India mounted to 357, with more deaths reported from the two eastern states of Binar and West Bengal. A temperature of 135 degrees was the parking lot where troops were evacuating workers. "There was a blinding flash and a deep thump," a worker said. "I saw many Injured, including some people who had been mutilated." In another development, William Whitelaw, Britain's secretary of state for Northern Ireland, rejected Protestant demands that troops raid the Catholic Bogside district in Londonderry. The Protestant demands came after soldiers battled with Protestants in Belfast and tore down make-shift barricades in five Protestant neighborhoods.

In Londonderry, 200 Catholic women from the Bogside and Creggan districts marched on IRA Official wing headquarters to protest the Officials' "execution" Sunday of a 19-year-old British sol-; dier, a Catholic home on leave from West Germany. Timet Wirt Services BELFAST A false guerrilla telephone tip-off lured factory workers fleeing a bomb warning into the blast of an auto packed with high explosives in Belfast Monday. Sixty men and office workers were hurt, some seriously, as the 150-pound gelignite time bomb erupted near them in the car park of a factory at Jennymount Estate, where most workers are Protestants. SECURITY forces blamed the blast on outlaws of the Irish Republican Army (IRA) and said: "This seems to have been a deliberate IRA attempt to cause the maximum casualties in a Protestant area." Another bomb-laden car exploded outside the Ulster bank at Maghera, 40 miles northwest of Belfast, wrecking the bank and damaging 20 nearby shops and offices. Two British soldiers and three civilians were injured.

Laos Premier Beats Ouster Move "mandatory period" in which Souvanna was directed to urge leaders of the tripartite coalition government to find ways and means of ending the Laotian war. THE SOURCES did not indicate the length of the period. Political observers said it was the first time Souvanna a halt to all U.S. bombing of the Ho Chi Minh supply network from North to South Vietnam as well as other areas of the mountain kingdom before peace talks could start. The sources said Souvanna supporters defeated the resolution by accepting a compromise that provided a special has had to accept any sort of check on his hitherto free hand as prime minister.

The three-way coalition set up by the 1962 Geneva Accords provides for representation of rightists, neutralists and the Communist Pathet Lao, but the Communists have refused to participate in the government since 1964. Ceylon Becomes Sri Lanka Republic COLOMBO (UPI) Ceylon became the Republic of Sri Lanka Monday, breaking ties with Britain that go back 157 years. Countrywide celebrations greeted the move, which came two hours after the two-year-old Ceylon Constituent Assembly held its final session and adopted the draft constitution turning Ceylon into a free, sovereign and independent republic by 120 votes to 16. TECHNICALLY, the country will remain a member of the British Commonwealth, but it will be governed under its own constitution and Queen Elizabeth II will no longer be recognized as the queen of Ceylon. Its constitution describes it as a "socialist democracy." The first head of the new government is President William Gopallawa, who previously held the title of governor general and representative of the queen.

Sirimavo Bandaranike will remain as prime minister. The new constitution was largely the work of Dr. Colin De Silva, the Trotskyist minister of constitutional affairs. THE TAMIL Federal Party, which represents the largest minority community, boycotted the constitutional ceremony because Tamil is not recognized as an official language in the new constitution. The only official language is Sinhalese.

The United National Party, the largest opposition group, voted against the constitution because it said the document had totalitarian tendencies. Under the constitution, the country will have a unicameral legislature. FACTORY AUTHORIZED TIMEX' MMir SALES A SERVICE to 5:00 TREASURE CHEST JEWELERS of Trtasuri Island 12S 107th Avt. 363-3021 VIENTIANE, Laos (UPI) -Premier Souvanna Phouma beat back a move in the National Assembly to force his resignation but suffered a blow to his prestige by having lo accept a compromise, government sources said Monday night. The sources said Prince Souvanna received 35 votes to 10 against and 13 abstentions to defeat a resolution calling for dissolution of his government and his immediate resignation on charges that he ignored the constitution in his unilateral administration.

THE VOTE capped two days of debate in a closed session of the assembly. During the debate, some members demanded that Souvanna accept the demand of the Communist Pathet Lao for New Turkish Cabinet Formed -Q briefing ANKARA, Turkey If) Ferit Melen, senator from a small centrist party, formed a new government Monday, the fourth since March 1971 when the armed forces stepped into Turkish politics demanding reforms and an end to civil disruption. Melen's Cabinet includes eight ministers from the Conservative Justice Party, which has 309 seats in the 633-seat bicameral parliament; five ministers from the moderate left Republican Peoples Party, which has 175 seats; and two ministers, including Melen, from the National Reliance Party, with 24 seats. It must submit its program to parliament for a vote of confidence within a week. QE II Bound For U.S.

SOUTHAMPTON, England (UPI) -The passenger liner Queen Elizabeth II sailed for New York Monday without extra visible security pre cautions despite last week's bomb scare. Shipping sources said Cunard Lines and Scotland Yard had worked out new-security plans, however. Rains Flood Eastern Cuba MIAMI If) Heavy rains in Cuba's eastern provices have caused widespread flooding, forcing the evacuation of thousands of people from low-lying areas and drowning three workers, Havana radio said Monday. NUTRILITE VITAMINS PROTEINS COSMETICS MINERALS FOOD Sim. EM ESTS I ROM S.VIVRAE EXTRACTS ALSO NON-POLLUTING CLEANSERS 194-6910 -MAR-LO MARKETERS, INC.

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