Business Mirror ESTHERVILLE DAILY NEWS, TUBS., JAN. 11, 1972 They re 'High' Pag e 4 on 1972 Familiar Landmarks BY JOHN CUNNIFF AP Business Analyst NEW YORK (AP) - A final review of the independent economic forecasts that have proliferated since fall shows a consensus for tremendous gains during 1972, on the order of $100 billion in growth. From reading the words you might not guess that this is the outlook. Economic forecasting is to some extent a game of chance. Forecasters are hedging their words if not the figures. Political or monetary problems might confuse everything. Continued unemployment might scour the people. Controls might depress. Moreover, a sense of propriety causes the wording to be somewhat at variance with the figures being offered. Now everyone will share in the advance—unemployment is seen remaining above 4.5 per •boom" is inappropri- cent— so the word 1 ate. Perhaps as daring as any, therefore, is the forecast by Argus Research, upon whom much of the investment community relies heavily. This is the message delivered to Argus subscribers on New Year's Eve: "For the first time since 1966, the conventional wish for a prosperous new year has a strong chance of coming true in 1972." At the same time, clients of Lionel D. Edie, economic consultants, were told that "chances of 1972 being an altogether favorable business year are high." Rinfret-Boston Associates summed up its many forecasts in four words, "The emphasis is positive," and advised industrialists to learn from past experience and not be caught shorthanded or without financing. Specifically, R-B advised them to cultivate multiple credit sources so as to have the funds with which to expand, and to study their labor supply in order to assure themselves of help when needed. But isn't there plenty of labor available? "Many areas of the U.S. do have material unemployment," Rinfret says, "but on investigation the unemployed frequently prove to be either unuseable or unavailable." There were few exceptions to the consensus. Eliot Janeway smiled and wished everyone a Merry Christmas before dissenting. His new year forecast: "I am lowering my sights on the U.S. economy— for the second time this year." Janeway says he is well aware "that I mm AILY NEWS the small society am entering a seemingly impractical and certainly lonely dissent to the overwhelming majority of sophisticated financial opinion . . ." he is aware too that a lonely position draws the spotlight. Based largely on the outlook for a big advance in 1972, the money advisers are confident that a fully invested position is the smart one. Why should we be interested in what these men say? Haven't they been wrong before? Of course they have, although some of them have areas of expertise in which they are often right. What is important about their forecasts and advice is that they are listened to, often in very high circles, and often acted upon. Their opinions are, therefore, as important as some facts. Forecasts sometimes are self-fulfilling. For 1972 they say Happy New Year." by Brickman By THE ASSOCIATED PRESS Today is Tuesday, Jan. 11, the 11th day of 1972. There are 355 days left in the year. Today's highlight in history: On this date in 1943, during World War n, the United States and Britain relinquished extraterritorial rights in China. On this date — In 1569, the first lottery in England was drawn in St. Paul's Cathedral under patronage of Queen Elizabeth I. In 1757, the American patriot, Alexander Hamilton, was born in the West Indies. In 1785, the Continental Congress convened in New York. In 1788, pioneers set out from Hartford, Conn., to settle Ohio. In 1897, the United States and Britain agreed to arbitration in fixing the boundary between Alaska and Canada. In 1964, the U. S. surgeon General, Luther L. Terry, released a federal report describing cigarette smoking as a definite health hazard. Ten years ago; 3,000 persons were reported killed in an avalanche that buried a village in the Andes in Peru. Five years ago: The United States disputed a statement by U. N. Secretary- General U Thant that Vietnam was not strategically vital to the West. One year ago: The United States lodged a protest in Moscow over harassment of U. S. citizens in the Soviet Capital. I ^UPFbSE WH&N TH£ LA^T OF TME Tftx>f*s OUT OF VIETNAM- WE'LL HAVE TO £|T • THlfclk&H AH Hotf£-LON<5 ^PeclAL A£6UT IT- /-// 5f?j<sK *A -*J By Hal Boyle Musings on Animals Letters to the editor are welcome. They should be brief, legible, written on one side of the paper, and include signature, address. All letters are subject to condensation. NEW YORK (AP) - Things a columnist might never know if he didn't open his mail: Baby alligators are only eight inches long when hatched. But they then grow a foot a year until they reach maturity at six years. Probably no metropolitan area in the world has the discard problem of New York City. Its sanitation men on an average day pick up 25,000 tons of garbage and other debris. An octopus with a body about the size . ot a .football -has been known to reach a'" IfimHIUIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIillllllllllllllllllllHIIIIIIIIIIIIUHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIIIIIIIIIIIIIU An independent newspaper published | "Monday through Friday," except prin- 5 cipal holidays, excluding February 22 and § Veterans Day. Second class postage paid § at Estherville, Iowa. = AILY NEWS Published by the Estherville Daily News, Division of Mid-America Publishing Corp., 10 N. 7th St., Estherville, Iowa 51334. Subscription rates: City of Estherville, Armstrong, Ringsted, T e r r i 1, Graettinger and Superior, delivered by carrier, 60 cents per week; $7.80for 3 months, $15.60 for 6 months, $29.70 year. By mail in Emmet and bordering counties: $15.60 year, Zones 1-8, $19.50 year. Fred E. Williams, Publisher; Stan Brotherton, Managing Editor; Richard Myers, Advertising Director; Gladys Streiff, Business Manager; Donald Stoffel, Production Manager; Randy Shierk, Shopper Manager. Member of Associated Press, Iowa Daily Press Association, Iowa Press Association. Photos submitted to this newspaper will not be returned by mail. However, they may be picked up at the Daily News Office. RiiigiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiHiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiitiiiiiiiiiiiiifi HI AND LOIS length of 28 feet from armtip to armtip. While generally shy and harmless, a small variety that lives off Australia, the blue-ringed octopus, is one of the most poisonous of any sea creature. Its bite can kill a human being within minutes. There is a theory that the frozen continent of Antarctica once was joined with Australia, South America, Africa and India in a single vast land mass. The finding of 200-million-year-old fossil plants and animals in Australia, says the National Geographic Society, 'helps support this theory. ' . .'..Love sWf: .Ever w.onfaer^Vrnyre the word "sparking" came from? It is a Hoosier term for courting derived from early days on Indiana farms. Young sweethearts sat up by the hearthside after the girl's family went to bed. To keep warm in winter, they had to throw more logs on the fire. Neighbors, noting the sparks showering from the chimney so late at night, surmised there was a serious courtship going on. Quotable notables: "It is bad for a man that his mind should be active and his soul be dead."—President John F. Kennedy. One of the puzzling things to scientists is that city cats seem to be getting measurably darker than cats raised in rural settings. Some believe the change is genetic—a case of evolution at work. Why the change? One belief is that city cats lead more dangerous lives and therefore need more camouflage. Another thing puzzling to science is why dogs bark, Wild dogs don't bark— although they howl and growl, yelp and whine—until put in company with domestic dogs. One possibility: the barking of dogs is a response they have developed to the sounds of the human voice. Odd claims to fame: Edward Damaresqu lived 85 years on a pension, the longest of any man in history. A surveyor-general of Tasmania, he was put on a full pension by the East India Company at the age of 19 in 1821 because of ill health. He enjoyed it until he died in 1906 at 104. It was Lord Chesterfield who observed, "A man that will enjoy a quiet con-, science must lead a quiet life." Around Iowa The weathered store building erected in the early 1890's is still standing in Vining. The main rooms are the present home of Mr. and Mrs. James Kubu, on land granted to Vining by the Milwaukee Railroad back in 1882. Mrs. Minnette Bishop of Nora Springs observed her 104th birthday recently with members of her family. Her parents were among the earliest settlers of this area, and Mrs. Bishop was a school teacher before her marriage in 1891. She has three living children, 10 grandchildren, 26 great-grandchildren and six great- great-grandchildren. Where Are You? Here's a familiar entrance to those who know Estherville. If you can't guess this one, watch for the identification in tomorrow's News on this same page. Politalk REP. JOHN CULVER, D-Iowa, said Monday he will announce his 1972 political plans Feb. 16. It has been rumored that the congressman from Iowa's Second District will seek the U. S. Senate seat now held by Jack Miller, R-Iowa. SEN. HUBERT H. Humphrey, formally announced his third bid for the presidency Monday with a call for reconciliation and rebirth and a pledge to end the war in Indochina. SEN. EDMlJND Muskie of Maine ended two days of Florida campaigning Sunday with a strong bid for support from the state's two largest minorities — Jews and blacks: DEMOCRATIC hopeful Sen. Henry M. Jackson stumped across northern Florida and said a vote for Alabama Gov. George Wallace would amount to a vote for Nixon. The area went heavily for Wallace in 1968. LOS ANGELES Mayor Sam Yorty's supporters in Concord, N. H., filed the mayor's petitions and paid his $500filingfee; < --- COMEDIAN Pat Paulson said in New Hampshire he would be a serious candidate this presidential year. He intends to get petitions signed in the streets. "The fact that a comedian is running for office is not so strange," he said. Henry "Scoop" Jackson STATE SEN. John Tapscott, D-Des Moines, said he Will propose that the state board of regents establish seven regional medical educational facilities throughout Iowa. He said the facilities mjght be located in Sioux City, Mason City, Dubuque, Ottumwa, Davenport, Council Bluffs and Des Moines, where there are facilities large enough to accommodate such centers. i-r RIP KIRBY SEN. GEORGE McGovern, Democratic candidate for the 1972 presidential nomination, will be making several campaign appearances in Iowa next week. The closest he will be to this area is at a noon luncheon in Sioux City Thursday. He will also be in Davenport, Cedar Rapids, Iowa City, Des Moines, Ames and Waterloo. STATE SEN. Art Neu has urged creation of a special task force "to study the effect of recent court rulings on Iowa educational financing." The Carroll legislator noted that courts in California, Minnesota, and Texas have overturned laws providing for local property tax support of public schools. SEN. GEORGE McGovern is challenging front-running Sen. Edmund S. Muskie of Maine to meet him in a series of face-to-face debates in the New Hampshire primary race. t ARCHIE y v. ( THAT'S FROM ( WOW/) V ^NIPS' 1 BEETLE BAILEY ' (g) Kini Feature, Syndicate, Inc.. 1972. World right, toiervad, 'Dad, about our generation gap..." 'You go to sleep, Ted — I want to talk awhile yet.' Esther Grade A Dairy Products Will Brighten Your Day, Too!
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