Sunday Gazette-Mail from Charleston, West Virginia on September 3, 1972 · Page 36
Get access to this page with a Free Trial

Sunday Gazette-Mail from Charleston, West Virginia · Page 36

Charleston, West Virginia
Issue Date:
Sunday, September 3, 1972
Page 36
Start Free Trial

8D--Sept. 3, 1972 Sunday Gazette-Mail h*rlf«ton, WMt Vlrtlnli Car Price Hike Refusal Defended The Washington Post WASHINGTON--Price C o m mission Chairman C. Jackson iGrayson Jr. has directed his I jstaff to begin studying how a' I wage-price control system could 'handle demand-induced inflation --a prospect he concedes is E year off. Grayson cautioned in an inter view with The Washington Post, that this does not mean he expects controls to be on the econ omy through 1972, but rather an indication that the commission must continue to plan as if economic curbs will continue for a long time. Commenting on a more immediate problem, Grayson also said that if the commission had granted the Ford Motor Co. and General Motors Corp. "even $1" in price increases, the auto makers might have violated Iheir government-imposed profit margin ceilings this year. Pensive "I don't know just what I'll say to him when we meet," was the first reaction of Mrs. Olga Charles, wife of one of three American prisoners of war the North Vietnamese say they are to release. Her husband. Navy Lt. (j. g.) Norris A. Charles 27, of San Diego, Calif., a radio intercept officer, was captured after his plane was shot down Dec. 30, 1971. She finally decided, "Maybe we'll just hug each other for a long time without saying anything." Story on Page 1. (AP Wirephoto) GRAYSON DENIED charges by the auto manufacturers that the commission acted arbitrarily in refusing the two auto giants any price boosts on their 1973 model cars. At some point in the controls program--probably next year-the nation will again find itself in a demand-induced inflation state, Grayson said, in contrast to the current situation in which costs are pushing prices up. He argued that if price con- ;rols were lifted now, there would be no surge in the rate of reach that stage and then we'll be in a general excess demand situation." As for autos, all four major producers applied for price boosts on their 1973 models. The Pi-ice Commission ruled that Ford and GM were "technically" unqualified for any price increases because of the profit margin test. The test prohibits a firm's profits as a percentage of sales from exceeding a level attained in an average of the best two of a firm's last three fiscal years. The remaining two increase requests--American M o t o r s Corp. and Chrysler Corp.--have been suspended until Price C. .JACKSON GRAYSON Defends Refusal relation--but he agreed that "inflationary expectations have not calmed enough yet" to remove curbs. "Our program is not designed to handle demand-pull inflation," Grayson observed. "I'm now saying to start to think handle a demand-pull situation. He noted that certain commodities such as lumber, leather and meats already are in demand-induced inflationary situations. "There will be some point when enough commodities iCommission hearings on the auto industry are completed jSept. 30. i Both Ford and GM showed profit margin date for the first six months in excess of their limits, but argued that because of seasonal factors, their profit margins for the year would be within acceptable limits. Grayson said he "felt the sea- sowality factors used by the companies were certainly arguable." He said that the company computations showed that auto makers would not violate their profit margin ceilings, while Price Commission computations showed they would. "I felt it too important an industry to risk the danger of granting a price increase, then seeing the companies exceed the profit margin test," Grayson said. He called the reduced app l i c a t i o n s .submitted under White House pressure "too close" to grant. "But I reject the charge that I acted 'arbitrarily and capriciously'," Grayson said, referring to a statement by Henry Ford II, chairman of the board of Ford Motor Co. Use Want Ads Dial 348-4848 100% the staff, 'Let's about ways to Strikers Praise Moore for Stamps Striking city workers praised : tive assistant to Gov. Moore.(Agriculture saying the legality Gov. Moore here Saturday foracting on his behalf, instructed i O r 11,- .(-,.;],- v,ad nnthino- In rin removing the last obstacle in the Kanawha County Welfarej 0 Jf 6 .f 1 . ^ n ° thl "f , d ° their fight to obtain federal food [Office "to quit stalling" |urth the lssuance of food stam P s - I Officials at the office earlier : stam P s ' . I Tom Gagliardo. a spokesman had refused to issue the stamps! At lhe same time - Hollie for the Municipal Workers Un-ion the grounds that the legality Brown, the local union presi- ion. said the strikers began re-(of the strike was questionable, irjent again challenged Mayor ceiving food stamps Friday eve- Gagliardo said welfare offi- H u t h i . , ,, , , , ning after Norman Yost person-cials maintained the position 1 ge llat Strlk ally intervened even in the face of telegrams .*j · . ( · · . U I - V . K U V I . i \- v vii *n M\; i a\,t vi. tCiCtl a 111 a - ·/ Gagliardo said the administra-lfrom the U. S. Department of violence against non strikers. ing workers have been guilty of: DISCOUNT TENT AND CAMPING SUPPIY OUTLET-422 McCorkle Ave. ST.ALBANS 727-8912 Our building has been sold and we must vacate the property beginning Labor Day, Mon. 9--4. Everything goes on sale. All Tends Screenhouses are new factory seconds. TENTS. SCREENHOUSES 4 TRAILER SWNWCS , 5 % o f f OUR RIG. DISCOUNT PRICE · 38 styles and sizes to choose from ALL CAMPING SUPPLIES, FISHING EQUIPMENT AND REMAINING STOCK OF SAFETYTOE SHOES 10% off REG. DISCOUNT PRICE MON.TUE.THURS.FRI.SAT. 9 TO 9 WED. 9-5 CLOSED SUNDAY REAL ESTATE LOANS TO QUALIFIED BORROWERS UP TO $15,000 1st or 2nd MORTGAGE YOU CAN BORROW ON YOUR PROPERTY TO CONSOLIDATE DEBTS, PAY FOR AN EDUCATION, PURCHASE MAJOR APPLIANCES OR ANY OTHER WORTHWHILE PURPOSE GUARANTY SAVINGS AND LOAN 915 QUARRIER ST.-CHARLESTON Ph. 343-9433 · AUTO AND MOBILE HOME LOANS ALSO AVAILABLE LOANS MADE WITHIN A 100 MILE RADIUS EQUAL HOUSING LENDER 6% PAID ON SPECIAL PASSBOOK SAVINGS TREMENDOUS SAVINGS NOW--ALL '72 MODEL CARS TRUCKS AT PATRICK PLAZA DODGE DON'T WAIT-ACT NOW · POLARAS · CORONETS · DARTS · STATION WAGONS · PICK-UP TRUCKS · VANS* ALL CARS NODI1 DODGE COLTS THE SMALL DODGE WITH EVERYTHING 50 TO CHOOSE FROM 2-DR. 4-Speed, Radio, Wheel Covers, White Tires 1995 ALL POLARAS and MONACOS 5 I TRUCKS 1,000°° OFF SPECIAL SHIPMENT 106cyl. 131"WB SweptlineD-100 Pickups $ 2497 [POLARACUST.4DR.HT. ( Vinyl Roof, Air Cond., All Power , J ST. 3737 | WAS 4814.35 NOW 3814 Sla. Wagon 6 in Stock Radio, Automatic, White tires, wheel covers Was $2884.20 MOW 2 Dr. Hardtop 9 in Stock-Radio-Automatic, White tires Was $2720.20 $ HOW 2487 4 Dr. Sedan-Radio, Automatic] White tires 4 in Stock Was $2666.20 HOW * 2391 IPOLARACUST.2DR.HT. Vinyl Roof, Air Cond., All Power I ST. 3 740 | WAS 4746.95 NOW $3746 Sta. Wagon-Radio, 4 speed, White! POLARA CUST. 4 DR. HT. tires Was $2706.45 HOW '2496 Vinyl Roof, Air Cond., All Power ST. 3926 WAS 4847.95 NOW 3847 DODGE DARTS Special Factory Shipment OVER 100 IN STOCK Most with F8EE Hutomatic Trjnsmissioi AS LOW AS $ 2297 POLARA CUST. 4 DR. SON. Vinyl Roof, Air Cond., All Power. ST. 3928 WAS4761.95 NOW 3761 POLARA CUST. 2 DR. HT. Vinyl Roof, Air Cond., All Power ST. 3931 WAS 4780.55 NOW POLARA CUST. 4 DR. SDN. Vinyl Roof, Air Cond., All Power ST. 3934 WAS 4761.95 NOW MONACO 4 DR. HT. Vinyl Roof, Air Cond., All Power , ST. 3942 WAS 5222.25 NOW 4222 B100 Von-109" W.B. Heavy Duty Was $3258.15 MOW B200 8 cyl 127" W.B. Van Pow« Steering, Heavy Duty Was $3847.90 HOW B100 Von-109" W.B.-Heavy Duty, Shocks, Clutch Was $3223.40 MOW , 2676 B100 127" Van 6 cyl factory Equip men! Was $3304.60 '2986 MONACO 4 DR. HT. Vinyl Roof, Air Cond., All Power ST. 3932 WAS 5348.25 NOW B100 5 Psg. Sportsman Sta. Wag. P.JB200 127" W. B. 8 cyl. Van. Power Steering, P. Brakes, Automatic [Steering, Power Disc Brakes, Heavy as'3988.90 $£j|O«fe W .....3482 4348 MONACO 4 DR. HT. Vinyl Roof, Air Cond., All Power ST. 3929 WAS 5348.25 NOW 4348 B200 127" W.B. 8 cyl Van, Seat, P. Brakes, Mirrors Was $3582.75 HOW ZOO 127" W. B. Maxie .-... ,,,«. [Steering, P. Brakes, Radio, Heavy I Was'4056.80 I HOW $ 3497 MONACO 4 DR. HT. Vinyl Roof, Air Cond., All Power ST. 5924 WAS 5381.15 NOW 4381 MONACO 4 DR. HT. Vinyl Roof, Air Cond., All Power ST. 3918 WAS 6035.15 NOW OLARA 4 DR. HT. Vinyl Roof, Air Cond., All Power WAS 4572.25 NOW B100 8 cyl. 127" W.B Van Auto . mafic, P. Steer. P. Brakes, Radio B100 6 cyl 127" Van Equipment Was $3825.75 NOW 3386 B300 127" Maxie Royal Spls. Sta Wag. Air Cond. 12 Psg. Automatic Brakes, Steering Was $6107.36 NOW , Was $3238.80 HOW tjuipment 28631 D100 115 W.B. 6 cyl 6Vi ff. Swept- '5215 B100 8 Cyl. 127 Van Power Steer ing, Disc. Brakes WAS $3619.70 MOW B300 127'' Royal Sots, U Ps" PATRICK PLAZA DODGE PATRICK STREET PLAZA-PHONE 343-5623 HOURS: SERVICE 8 to 5, SALES EVE. TILL 9, SUHDAY TILL 6 Maxie Van Air Cond. Automatic, Power Steer., Brakes Was $6097.1 2 $51 7A ' ' ' . Spts. Sta. Wagon-- Power Steering, Disc. Brakes Was $4852.25 NOW 1422Z line Was $3038.15 HOW '2596 D100131"6tyl8rt.Sweptline Radio, Heavy Duty Was $3206.20 HOW '2787 Was $2959.70 HOW 2497 D200 V4 TOM 4 spd. 131"-8 It, Sweptline Was $3707.35 HOW '3186 B200 127" 6 cyl Von Factory Equ ment. '2997 MANY OTHERS TO CHOPS! FROM D20P/4 Ton 4 Spd. Step Bumper 53126

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 8,600+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free