Indiana Gazette from Indiana, Pennsylvania • Page 42

Business Signs Of Recession Growing NEW YORK may- only be a product of spring or impatience or the human need for hope, but some of the fellows who try to tell us what the future holds seem to be smiling occasionally. Walter Wriston, Citicorp chairman, sees interest rates tumbling by autumn. Charles Schultze, chairman of the President's council of economic advisers, expects inflation to plunge at the same time. Even Julian Snyder, bearish publisher of "International Moneyline," declares a peak in interest rates finally is at hand, and that the high rate of inflation will fall sharply by the year's third quarter. Those who study forecasters, however, always wait for the smile to wear off, and then they listen to the bad news.

The bad news is that anything good is, accompanied almost always by something bad. Such as recession and rising unemployment. Snyder, who feels any drop in prices and interest rates will be temporary, warns that 1929 will happen again. "Become a master mariner of change," he says, "because that is the only certainty." Schultze told a National Press Club audience this week that signs of a recession were growing, and he conceded that even if interest rates drop sharply the underlying rate will remain around 9 percent. Wriston, speaking in Houston, accompanied his forecast of lower interest rates with the reminder that when interest rates fall they generally do so because economic activity also has slowed.

What the seers are saying, in effect, is that good news is also bad news; that the United States and a good part of the world are in a mess from which there is no way out except to walk over the hot coals. Walking over the coals, according to most of the opinions distributed by government, BRIDGE Everybody makes mistakes By OSWALD JACOBY and ALAN SONTAG Here is a hand from a French-British match in 1970. At both tables South became declarer at six spades. Both Wests opened the ace of diamonds and continued the suit. East's queen fell to South's king and it was up to South to pick up the queen of trumps.

The French declarer led a NORTH 4AJ87 4-10-80 J752 KQ54 WEST VQ54 J32 EAST 493 VK983 Q10 109876 SOUTH 4K10654 VAJ1076 Vulnerable: East-West Dealer: West West Pass Pass Pass Pass Pass North East 1 Pass 24 Pass 4 4 Pass 5 Pass Pass Pass South 14 3V 4 NT 64 Opening lead: 4 A business, financial houses and academe, means.doing with less for anywhere from a year to a decade, or even more. Immediately, it means doing without a new house, turning the thermostat down, using the car less, cutting up the credit cards, trying to pay bills now rather than in the future. It means a lot more, too, in terms of the family psyche. It means, for example, that you must adjust to the notion that in a material way things won't get better and better but might get worse and worse, is something the schools never told you about America. The notion of less is contrary to an American's view of life.

It conflicts with his understanding of self, and the torture is made all the worse by the images of wealth and comfort that are portrayed in almost every publication and on almost every TV channel. The question is whether American's can smile in such adversity, especially when almost all the good economic news they're likely to receive for a while will have a flip side. When, for example, less inflation and lower interest Interior Dept. Fails To Inspect Strip Mines Fully WASHINGTON (AP) -The Interior Department has admitted that it has failed to comply with a 1977 law requiring two inspections a year at each of the nation's strip mines. But Mark Squillace, an attorney in the Office of Surface rates mean fewer jobs, smaller houses, less credit, lower thermostats, and for the time being at least, less con- tent'to the American dream of more.

Indiano Evening Gazette, Thursday, April 10, Mining, said Tuesday there just aren't enough inspectors to carry out the law. Nevertheless, Squillace said the department has agreed to review its strip mine inspection program to see if it can provide stricter enforcement against owners whose mines cause safety and pollution problems. The review was promised in a settlement approved by U.S. District Judge Oliver Gasch, ending a civil suit by five environmental groups who sought a court order to upgrade the inspection and enforcement program. Squillace said the government will give its closest review to enforcement programs in A UTTLE IEARY 1980 LA.

Times Synd. Dickenson, Wise and Buchanen counties in Virginia; Knott, Pike, Letcher and portions of HarJan and Perry counties in Kentucky; and Scott and Campbell counties in Tennessee. Egypt Names New Air Chief CAIRO, Egypt (AP) Gen. Mohammed Lutfy Sha-; bana was appointed com-" mander of the Egyptian Air' Force, replacing Gen. Mahmoud Shaker Abdel Moneirn.

who died of a heart attack last week, the semi-official Middje East News Agency reported today. A government decree, Is- sued Tuesday, also said that Maj. Gen. Mohammed Abdel Hamid Helmy would take Sha: bana's place as air force chief of staff. Shabana, 49, joined the air force in 1951.

STAR WARS By Run Manning and Don Christenten TIGER By Bud Blake spade to dummy's ace, returned a spade toward his own hand and thought for a while. Finally, he decided to play for a 3-1 spade break since West had shown up with five diamonds to East's two. Down one! Jeremy Flint of England decided to postpone the trump decision for a while. He cashed his ace of hearts and ruffed a heart in dummy. Next.came dummy's jack of diamonds.

East ruffed and now it was an easy matter for Jeremy to pick up that queen of trumps. We can point out any number of reasons why East should not have ruffed that diamond. In fact, it was the sort of play you expect from a beginner, but not from an expert. Nevertheless, as'Hal Sims (the greatest auction bridge player and one of the first contract authorities) pointed out 50 years ago, if you give a player a chance to make a mistake, no matter how great he is, that mistake may well be made. (NEWSPAPER ENTERPRISE ASSN.) (For a copy of JACOBY MODERN, to: "Wlnat Bridge," care of this newspaper, P.O.

Box 489, Radio City Station. New York, N.Y. 10019.) WAIT A (Sot" MINUTE, tWOLEpr HUSO THEY'RE SETTING CLOSSR. TOO TO CUT 1JV SFA MfAK KEEP FIRING HOLP FREIGHTER BUPPIE5 GET HERE, COMMUNICATION WITH OURGROUNP FORCE STILL BEING JAMMEP LORP By Milton Canitf STEVE CANYON REX I D0NT KWOW HOIV TO S4V THIS, DOCTOK-BUT JEFF SEEMS TO HAVE HAD A PERSONALITY CHANGE IN THE LAST COUPLE OF ME DOESN'T THECE'S THING WBONG DE. WILLIAMS REFEEEED US TO HE'S PHYSICIAN AMP HAS I PR.WILLIAMS IS A THANK YOU FOR TALKING TOME BEFORE YOU EXAMINE AW HUSBAND PP.

WE'RE THIS RUNNING AN PASSENSEKS HOLDING TICKETS ON CANNOT HELP CO VOV FROM A TURKISH JAIL FOR ILLEGAL ALIENS RJPY, I CAN'T LEAVE WITHOUT, AND I WOULD NOT BE 50 LUCKY 5PRIN6 INS YOU A SKONP TMie OLD YOUR VISITOR'S WSA END'S YOUR HAT WHAT'S PtLAVEP FLIGHT 255, NONSTOP I LIKE TO SET dLL TME INFORMATION I CAN ABOUT A NEW SHOULD OH By Mort Walker BEETLE BAILEY By Art Sansom THE BORN LOSER WHY PO YOU ALWAYS CARRY THAT CLIPBOARP, KIT AND IT WAS THE ONLY THINS ICOLlLPCUT ITSAYEP MY LIFE PURINS TAKgTXJf? VACATION I TMRgW MY BACK OUT.AMD I 100, BUT WHAT cA DO? By Sounders Ernst By Howie Schneiden MARY WORTH WE WONPERED IF THE PROFESSOR HAD ANY CHILDREN'. TO MY KNOWLEDGE, HE DOES NOT! -I HAPPEN WIFE! i'M ROBERTA CAMERON! BUT THE. WJIUD-CHILL FACTOR MAKES IT LIKE ITS SU(JL IM THE YOU'RE WELCOME TO CALL PROFESSOR CAMERON FROM MY APARTMENT INTRODUCE MY6ELF! By Dick CavaltU By Crooks Lawrence CAPTAIN EASY i DUNWO IF MY MOM WOLJLP LET MB GO? WHAT ABOUT WOULP THEY LET ME SKIP CLASSES JUST T'TRAVEL AROUND IN YOUR I COULDNT THF5 PIFFBRENCE. MY FATHER aAlDMY A SEVERE PISCIFUNARX APPLICATION. WAS IT BETTER THAN BUT THERE'S OWE CALLED FOR By Hanna-Barbera By Heimdahl Stoffel 816TIPPERS.

THE FLINTSTONES WE RE ABOUT TO A LITTLE DISCUSSION THAT'LL LAST A COUPLE1 OF -3 HOLD ON- SHE JUST. DROVE IN I MOPE YOU WILL ENUOV YOUR STAY AT HOTEL FUDD. SIP- SHE CALL YOU By Chester Gould By Chic Young BE TOO DARK BUT DON'T EXPECT A FOREIGN ART JEWEL. AREN'T YOU USING THIS BAR TONIGHT. HE SURE RUNS A STRICT SHOESHINE BOX JUST TAKE WHAT) I NEED AND PUT IN AM I.O.U.

SORRY, HONEY- BUT VOU HAVEN'T PAID YOU LAST i.o LOVE, I WOMOER IF DAGWOOO STILL. HIDES MONEY IN MIS SHOESHINE A MOVIE OR TWO ON THE 3IC5- SCREEN TV IS ALWAVS A HIGHLIGHT OF AN ART DEHKO PARTY, 305 MUSICAL By Ham Fisher By Boh Thaves JOE PALOOKA FRANK ERNEST THOSE GHOSTLY HAPF-ENIN'S SPOOKIN' OF THE HOPE YOU HAVE ANYTHING TO PO WITH ITT? YOU BELIEVE IN DELIGHTFUL HAVING YOU VISIT, YOU OLP BIPPIE By Sounders Overgard STEVE ROPER MIKE NOMAD By V.T. Hamlin LESS YOU COM THI? DINNEP. COST AN OH THE HOO BROTHER ALLEY HAS DECIDED TO REMAIN HEfeE ON THE HE WON'T BE GOING WITH VtXl! I LOOKS LIKE EVERYTHING'S READY TO GO, YOU CAN TOW THE LOGS BEHIND THE WHERE'S OOP, YOUR CHIEFSHIP YEAH, BUT HOW UP WITH THE WRON6 COWBOY 1 ANP LOOK--IF (JOIN SOME 1 BETTER TEU-YA-I'MA LITTLE UOHTIM THE THROUGH THE OUR PEOPLE WILL SHOW PINNER- TABLE.