Estherville Daily News from Estherville, Iowa on January 24, 1972 · Page 7
Get access to this page with a Free Trial

Estherville Daily News from Estherville, Iowa · Page 7

Estherville, Iowa
Issue Date:
Monday, January 24, 1972
Page 7
Start Free Trial

ESTHERVILLE DAILY NEWS, MON., JAN. 24, 1972 Page7 Nixon Details Budget (Continued From Page 1) because of tax cuts since be took office. And it repeatedly rebuked Congress for Inaction in dealing with Nixon programs. The message was studded with demands for frugality in spending and for adherence to a "full-employment balance" in budget-making. The full-employment - budget concept, adopted by Nixon last year, holds that a budget deficit is not inflationary if total spending is held below the amount of tax revenues the economy would generate if it were running at "full employment"— that is, with only about 4 per cent unemployment. Even with its real, dollars- ahd-cents deficit of $25.5 billion, Nixon's 1973 budget would be merely stimulative and not inflationary— under the "full-employment" concept-because its outlays would be roughly $700 million below the theoretical "full-employment revenues." Nixon conceded that his fiscal 1972 budget, by contrast, showed an unintended $8.1-billion "full-employment deficit," but went on: "While our economy can absorb such a deficit for a time, Cops Search Europe For Check Passer ZURICH, Switzerland (AP) Police throughout Europe are looking for a dark-haired woman who cashed $650,000 worth of checks which the McGraw-Hill Book Co. paid for a purported autobiography of industrialist Howard Hughes. Swiss authorities confirmed that an international warrant was issued for the woman, about 31 years of age, who collected the money from the Swiss Credit Bank in Zurich. The Swiss officials did not Identify the woman. But Time magazine said she gave her name to the bank as Helga R. Hughes. The McGraw - Hill checks were made out to H. R. Hughes. The warrant was issued after McGraw-Hill filed a criminal complaint alleging fraud last Thursday with the Zurich district attorney. The woman was described as dark-haired, with a lean face, about 5 feet 3 inches tall, wearing a midi-dress and speaking broken German. Earlier reports of the mystery woman said she was a blonde. She - reportedly -pocketed 2*6- million Swiss francs after endorsing the checks "H.R. Hughes," In a handwriting that closely resembled that of the industrialist, according to pho­ tostats. The district attorney's office meanwhile called off a news conference this morning on the case. But it did confirm that the Zurich police had alerted Interpol, the international police organization. "As far as our bank is concerned, everything was handled correctly," the Swiss Credit Bank official said. "It was a most refined case of fraud, so refined, in fact, that clerks could not detect it." The search for the mystery woman was the latest development in the tangled Howard Hughes autobiography controversy, which involves McGraw-Hill, Life magazine and author Clifford Irving. Irving claims to have compiled the autobiography from interviews with Hughes. His book has been challenged in court as a hoax and its publication suspended by McGraw- Hill and Life pending clarification of the controversy over the Swiss bank account. Newsman Mike Wallace said Sunday on the CBS television program "60 Minutes" that Swiss police were looking for a blonde, German-speaking woman "who, according to the bank's records, opened an account there last May—using a Swiss passport made out in the name of Helga R. Hughes." Time magazine said Sunday that an attractive blonde who identified herself as Helga Hughes cashed the three checks through an account in the Swiss Credit bank in Zurich and carried out the money in an airline bag. She endorsed two of the checks "H. R. Hughes" in the presence of a bank officer and mailed in the third with the same endorsement, said Time, whose parent company, Time, Inc., also owns Life. McGraw-Hill, in the court action, has produced certificates from handwriting experts asserting that two of the check endorsements were genuine signatures of the billionaire industrialist. The Time story said the Swiss account was opened by the woman who carried a Swiss passport, identifying her as Helga R. Hughes and who signed a bank signature card, "H. R. Hughes." After comparing the signature with that on the passport, the bank officer allowed the woman to open the account by depositing 1,000 French francs, or about $180. Apout three weeks later, Time continued, the woman appeared with a $50,000 check from McGraw-Hill made out to H. R. Hughes and endorsed it in front of a bank official. In the early fall she appeared and endorsed a $275,000 check and in early December she mailed in a $375,000 check that was already endorsed, Time said. About two weeks after each deposit-the time it takes to clear an overseas check—the woman reappeared and withdrew the cash, carrying it out in the flight bag, Time said. In another development, CBS newsman Wallace reported that transcripts of the alleged interviews with Hughes supplied him by Irving contained "reference to a lady named Helga, purported to be the wife of a diplomat in Mexico, with whom Hughes says he is deeply in love." Last Friday Irving issued a statement through his attorney saying that he still believes the book to be genuine. Then he flew to his home on the island of Ibiza off the Spanish coast. Irving's lawyer, Martin S. Ackerman, said the author believes the Swiss account was "opened by a loyal servant, agent or some other person associated" with Hughes. Electronics Said Aiding In Arrest of 'Syndicates' WASHINGTON (AP) - Convictions of syndicate gangsters have increased largely because of electronic surveillance devices, says FBI Director J. Edgar Hoover. ™ Hoover, in the FBI's yearend report issued Thursday, said the devices have been valuable in penetrating "complex, tightly knit conspiracies involving intricate security precautions." Organized crime convictions rose from 468 in 1970 to more than 650 in 1971. "Much of the credit for these gains should go to court-approved electronic surveillance Iowa Plants (Continued From page 1) about coming to the United States—and hopefully we'll land some in Iowa," Wymer said. "The main thing to show them is we have labor similar to theirs and we are sitting in the middle of the country for easy distribution," the development commission director said. Wymer said the five Eurpean companies that appear interested in Iowa have made contact with his organization within the past two months. He said that during the first six months of 1971, the commission had inquiries from 75 foreign companies for information about investment in Iowa—almost as many as in the full year before. "I was led to believe that foreign labor was so much cheaper mat we couldn't compete," Rep. Herbert L. Campbell, R- Washington, said. "Their cost of labor has gone up, although it is still not as much as ours," Wymer replied. "But they also pay high fringe benefits. In Germany, fringes cost as much as the salary costs." Wymer also noted there is a labor shortage in Europe and the devluation of the dollar is creating more interest in investment in the United States. "I suggest that we are going to see some joint investment (with European and Iowa companies) within the next year," Wymer said. On Honor Roll Shirley Seely, Estherville, is among the 1,262 students listed on the fall quarter honor roll at the University of Montana, Missoula. The total number on the honor roll represents 14.1 per cent of the enrollment on the Missoula campus. EWSF Winners Kenny West will receive $10 and Lee Barnes $5 as the result of Estherville Winter Sports Festival drawings here Saturday. B was the third drawing of the season, with still more to come. devices provided for in recent legislation," Hoover said. Hoover said cases against about 2,200 other gambling and racketeering figures, including seven national syndicate leaders, are in various stages of prosecution. The FBI director also said two U.S. antiwar groups, the People's Coalition for Peace and Justice and the National -Pqace* Action Coalition, were infiltrated or dominated by the Communist party. "The PCPJ, infiltrated by the Communist Party, USA, called for the demonstrations in Washington, D.C., in May 1971 which were designed to shut down the U.S. government," the FBI report said. The NPAC "is dominated by the Communist Socialist Workers Party and its youth group, the Young Socialist Alliance," the report maintained. Boever Cast in Briar Cliff Play Wally Boever, Entherville, was a member of the cast of the play "Sheep on the Runway" presented at Briar Cliff College, Sioux City, Saturday and Sunday. The Art Buchwald play is a satire on the Vietnamese war and American military and civilian aid to foreign countries. Wally is the son of Mr. and Mrs. Marvin Boever of Estherville. Also in the cast was Trish Currans, Emmetsburg. Ringsteder Serves In San Diego RINGSTED — Mr. and Mrs. David Mueller have the following address for their son who is in the Navy. Mario L. Lester SAB 67 86 23 3844 SHC 7207 SSC NTC, San Diego, Calif. 92133 Mario completed his Navy recruit training in December. After spending the holidays with his parents he reported for seven weeks of training in store keeping in San Diego. Noisy Airport LOS ANGELES (AP) County supervisors have ordered strict enforcement of a new state law setting noise standards at airports. "Probably the worst airport in America is Los Angeles International Airport," Supervisor Kenneth Hahn said Tuesday. "It's outrageous that we've allowed it to exist this long." He said a law signed by Gov. Ronald Reagan Dec. 13 requires airports to install noise monitors if the county finds they have noise problems. Beginning Dec. 1, 1972, violators will be fined $1,000 a day, Hahn said. the experience of the late 1960s provides ample warning of the danger of continued, and rising, full-employment deficits. "The lesson of 1966-68, when such deficits led to an intolerable inflation, is too clear and too close to permit any relaxation " of control of government spending." These were among the budget highlights: Defense Though Nixon stressed the proposed $6-billion increase in military budget authorizations in his State of the Union message on Thursday, the budget message discloses that only $700 million of the increase shows up in actual 1973 outlays. The rest strengthens the U.S. hand in the Paris disarmament talks, however, because it provides development funds to speed the buildup of strategic- weapons systems. It also is a boon to the languishing defense and aerospace industries, for it means the Pentagon will be speeding up procurement and letting new contracts. Education The budget gives no clue to the amount or source of federal funds for school support which Nixon promised, in his State of the Union message, as a substitute for property taxes. He is expected to propose a plan financed by its own revenue-raising machinery, perhaps the value-added tax. The latter tax, a flat levy imposed like a sales tax at each stage in manufacture from raw material to finished product, is favored by the White House but unpopular in Congress. Nixon's budget called for outlays of $5.2 billion for all education programs. This includes a $499-million increase for his program to help school districts desegregate. Space Nixon's 1973 request is only fractionally higher— by $11.3 million— than planned 1972 spending. But the direction of the space effort is altered. The $200 million budgeted for the four-man space shuttle, which could take off like a rocket and land like an airplane, would start development of • a' reusable vehicle to cut costs of future space exploration. The shuttle also promises to pay more dividends in the form of technology usable by industry. Environment Unspectacular increases are provided in most pollution-control and water programs, including a rise of nearly $200 million in sewage-plant-construction grants to $1.1 billion in fiscal 1973. Outlays for other existing programs would increase by $40 million. Atomic Energy Atomic Energy Commission funds would be increased by $64 million to $2,422 billion. Foreign Direct military aid would be cut from $950 million to $750 million if Congress concurs. But military-related economic aid, providing financial help to countries carrying a heavy defense burden, would be boosted from 1972's $584 million to $796 million. Outlays for what is commonly called foreign aid, meaning assistance for the economic development of poorer countries, would be $1.47 billion, just $7 million short of 1972's estimated total. Under Nixon's plan, however, more of the money would go through international agencies. Health Nixon asked $18.1 billion, or $1.1 billion more than in 1972, for federal health programs outside the specialized health functions of the Defense Department, Veterans Adminis- t r a t i o n and some other agencies. Counting the latter outlays, the health total is $25.5 billion or 10 per cent of the entire federal budget. The fight against cancer would cost $335 million, up $57 million from 1972. A $31-million increase to $221 million was requested for National Heart and Lung Institute programs. A 50- per-cent increase, to $50 million, was asked for sickle-cell anemia. Consumers A 70-per-cent jump, amounting to $7J?.million, in outlays for the Food and Drug Administration is the only big change in Nixon's proposed spending for consumer protection. The FDA would get $179 million for all its activities, including a watch on 60,000 food plants, intensified surveillance of fish products, a review of patent medicines and more intensive screening of medical devices and potentially hazardous household products. After- inventory clearance. Wednesday We'll Be Closed Til 12:30 p.m. After 12:30 p.m. Shop For Fabulous Buys Like These Sale Starts Wednesday At 12:30 p.m. Sale Ends Wednesday At 5:30 p.m Men's Nylon PARKAS Org. $30 Now 88 Men's Wool JACKET Org. $19.98 Now Men's Leather-Size 38 Q rgi $40 Now JACKET 88 Men's Org. $6.98 SWEATERS - 098 Men's SWEATERS Org. to $18.98 Now 88 Men's Snowmobile Org. $9.99 Now MITTENS 99 Men's Org. WINTER CAPS - 1 99 Men's Plaid SLACKS Org. $6.98 Now 88 Men's Plain Color-Sizes29,30,31,32 DRESS SLACKS Org. $7.98 4 88 Boy's Lined Org. SNOW BOOTS - 99 Girl's Wool Org. $2.00 BARRETS - 50 Girl's TIGHTS Org. $1.99 Now Girl's Org. SWEATERS $ - 99 Girl's SWEATERS Org. $5.00 Now 99 Girl's Flannel SLEEP WEAR Now 88 Girl's SLIPPERS Org. $3.99 Now 33 Men's Plain Color-Sizes29,30,31 CASUAL SLACKS Org. 88 Men's Lined SHOES Org. $9.99 & $11.99 Now 7 88 Men's Flare Leg Now ^ BK CORDUROY SLACKSO 88 Girl's-Org. $6.9? to $17 Now 4.99 JACKETS & COATS 7.99 Women's Flannel Org. $5-$6 Now SLEEP WEAR Women's Leather Org. $16.99 Now SNOW BOOTS 88 Women's Rain or Shine COATS Now 88 Men's Polyester KNIT PANTS V 99 Men's Flannel 99 PAJAMAS £• &3" Boy's Wool Plaid JACKETS Org. $15.98 Now 7 99 Boy's Plaid & Corduroy Qrg $) , _ 98 JACKETS & $12.98 Now 99 B °y' s Org. $3.00 Now WINTER CAPS Boy's SWEATERS Org. $3.99 Now 1 99 Boy's Terry SHIRTS Org. $1.98 Now 1 44 Women's SLACKS Org. $10 Now 88 Entire Stock Women's 1 ^ # 38 JACKETS 13.88 19.88 Animal Fur Look MATERIAL Org. $4.98 Now 88 Yard Bonded ACRYLIC Org. $2.98 Now 88 Yard Turbo ACRYLIC Org. $3.98 Now 88 Yard Small Spools THREAD 10 or 1 Large Spools THREAD 5 F0R 1 MANY OTHER ITEMS ALL OVER THE STORE REDUCED And you'll find hundreds of other buys at equally big savings. Visit every department! Check every aisle! JCPenney The values are here every day.

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 11,100+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free