Galesburg Register-Mail from Galesburg, Illinois on April 25, 1973 · Page 38
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Galesburg Register-Mail from Galesburg, Illinois · Page 38

Galesburg, Illinois
Issue Date:
Wednesday, April 25, 1973
Page 38
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(Safiibuf^ RgQiitefMoM, <Sol#»byrfl, III. Wtdnesdoy. April 25. 1973 Ij^^ |Ag Departmeiit Is Fociising ' ^' Attention on Middleman Cost Market Majr Mther |o up dt ddwn «y>l;an>.in. «rhen final DM t^et" 11:30 o'clock bM. m. torn (old) $1.50 !r^# Cora .......$1.41 No. i^Beans (old) .v-.|6.?2 •'• N(sw — $4.25 ' Orain PufurM OitoAOO (UPD-Wheat was tirfegultrly lower, corn mixed and soybeans substantially higher at noon today on the Board of Trade. Prices at Noon Wheat 2.42^ off 3% 1.60% unch. 2.29Vi off ^ Cora 1.81% off V* 1.60% unch. 1.61 up V* 1.59% up 1% Soybeans 6.69 up 15 6.33V4 up 15 6.07% up 15 4.46% up 15 OHtCAOO (UPI) - Futures on the Chicago Mercantile t%- change today: High Low aose Prev. Live Beef Cattle May ^y Sep May Jly Sep Dec May. Awg Nov V1 r. t--o(r Jun 43.8S 43.50 43.77 43.30 Aug 43.60 43.2S 43.60 43.07 Oct 43.25 42.85 43.25 42.65 Dec 43.25 42.85 43.25 42.80 Feb 43.30 42.97 43.20 42.87 Apr 43.25 42.92 43.17 42.85 Live Hogs Jun 35.95 35.60 35.90 35.70 Jly 36.60 36.17 36.50 36.25 Aug 35.10 34.52 35.00 34.70 Oct 33.25 32.55 33.25 32.70 Dec 33.25 32.60 33.25 32.70 Feb • 33.67 33.25 33.67 33.25 Apr 32.70 31.80 32.70 32.00 Froten Pork Bellies May Jly Aug Feb Mar May Chkago Grain Range CHICAGO (UPI) -Grain range; ' High Low aose Prev. Wheal May ; , Jly Sep Dec' Mar "' Cora May Jly • Sep Dec , Mar' Mayr7'4^"' Oats (old) May,..,. 94y4 Jly: - 98% Oats (new) May/ 94y4 93 Jly 98% 96% S^Z''' 99% 98 SojA^s May 669 669 669 654% Jly 633V4 633% 633% 619 Aug;;:7: 607% 607% 607% 593 Sep-- - 510 510 510 495 Nov 446% 444 446% 432 249% 241% 249% 24« 240 228% 239% 231 239% 228 239% 230 241 228% 240 231% 240% 228% 240% 231% 164% 161% 163% 161% 164% 160% 163% 161 165 161 164% 161 162% 159 162% 158% 165% 162% 165 161% 167 164% 167 163% 93 96% 94 97% 93 96% 94 93 97% 97 96% 96 Jan ;> Mar\.. May-74 448% 446 449 447 448% 433% 449 434 53.80 52.80 53.60 53.00 53.90 52.97 53.65 53.20 53.45 32.30 53.20 52.50 50.00 49.20 49.65 49.40 49.45 48.85 49.45 49.00 49.40 48.65 49.15 48.80 Dow Jonas Averages NEW YORK (UPI) - Dow Jones 1 p.m. CST stock averages: 30 Indus 20 trans 15 utils 65 stocks 932.87 off 7.90 184.70 off 3.98 108.35 unch. 292.16 of 2.95 Hot, Cold Spots NEW YORK (UPI) - The highest temperature reported to the National Weather Service Tuesday excluding Alaska and Hawaii was 97 degrees at Laredo, Tex. Today's low was 23 degrees at Bemidji, Minn. Dies From Smoke JOHNSTON CITY, 111. (UPI) —John Cernkovich, 53, Johnston City, apparently died of smoke inhalation from a smoldering fire in a mattress in his bedroom today. 446% 444% 446% 431% and Memphis, Tenn., and publishing the data. Shreveport, La., and all the way By BERNARD BRENNER UPI Farm Editor Iport, the Agriculture Department new has eliminated all WASHINGTON/(UPI) - The reference to the retail <;ost of Agriculture Department — is the market basket. Publication quietly trying to de-emphasize of dollar estimates was halted two key features of a report last November, and a remain* which has been providing the ing note on. the percentage goverament's only one-package change was eliminated from the March issue which appeared |last Monday. In addition, the March issue s de-emphasized farm-return figures by demoting them from the front text section of the re- On The Farm Front monthly summary of trends in retail food prices, middlemen's ^ . margins and farmers' returns ufes by demoting for food In place of this single-package Port to a back-page ^^^^^^ look at three major food fac- his low-key treatment of the tors carried by the depart-lann return figure may ^ lors ciurieu uy uic ucfjcui. « ment's monthly "price spread" eliminated from future reports, report, officials now want to use the publication to focus attention on only one of the factors— the middleman's charge for processing, shipping and retailing food. Don Paarlberg, the department's director of economics said anyone who wants retail price averages can get them in a regular monthly Consumer Price Index report issued the Labor Department's Bureau of Labor Statistics, Similarly Paarlberg said, anyone interest Trade Today On Exchange Is Moderate NEW YORK (UPI) - The stock market retreated today —.-.w.„—, „v—a'ong a broad front. Investors Agriculture Department on « i, o. i, average prices of raw agricul- Trading on the New York Stock tural commodities. Paarlberg said the department's original intention in con verting the "price spread" from industrial average of 30 select- an obscure^ quarterly pubhca-gji ^^^^ ^^^y,^ t on to a widely publicized ^ n ««i5nSn« r«Anfhi« ronnr* tvin vparq aso chned 6.32 to 934.45. Declining S?« KVcnrlSofon ^^w issues topped advances, 957 to was to focus attention on wnat „^JL^ .U- I WaU Size Transferred to a map of the rising . . , . [United States, the 1,500-mile counted for most of the hike in happens to food prices between the farm gate and the supermarket checkout counter. When monthly publication began, the reports were showing that increasing middlemen's margins were responsible for most changes in retail prices. Over the past year, however, farm prices have ac- Great Wai; of China would reach consumer prices, and the Agri- south and westward from Wash- culture Department has been ington, D.C., past Chattanooga criticized by some farmers for In an attempt to shift the fo- across Texas into New Mexico. I cus of the "price spread" re- Companies Making Move End Stream Pollution By DEROY POPE NE^;YORK (UPI) - Five large companies recently signej) ,fL contract with the Gulf Coasr ^Waste Water Disposal Authority, setting up the nation's first river basin approach to dealing with industrial stream pollution. Busfaiess Today The companies — Champion International, Atlantic Richfield, Crown Central Petroleum, Petro-Tex Chemical and Ahr Products & Chemicals, Inc.—all have plants located on the Houston Ship Channel. The group will buy Champion International's existing stream purification plant, enlarge it and add a sludge incineration Iplant and transportation facilities. About 125 miUion wiU be invested. No tax money or tax credit obligation will be involved. A second such river basin attack on stream pollution in the same general region may be developed around a water treatment plant now being built by Union Carbide Corp. at Texas City. Other companies having plants in that area are considering joint action with DISTRIBUTORS YOU CAN EARN IHIGH MONTHLY INCOME r>ART-TiME (6-12 houra par weak) -jppirMe • routs of iissutiful Seribe Electrenfe f ottsgi Stamp ' ll «phlmtinyaurarM.NobMi6itlllns. ' Sefilie Inttrnatiomto Etoetronie Poctast Stamp DiiP«fliinfl JlwhiMf «• bfinfl u«d by the U£. PosttI Swvica (coast to coait). Wt moM* bihlal iocstiona In hotsiHnotsISi hovitsla, banks, 9lhwr litsil oMtiatib M tomtmant of $3^ to $7,000 Is iiqubsd for aqulpmant. ^Jiyitlisis iiPW>«tforapsiionsllnlirwiswlnyeMrclty, 'iPiossi IndM* your nami, eddram, snd phone numbtr.) Or CALL COLLECT ail*7«11 MM LVNOALE AVENUE MtfTH, IWTI III aiMI |AfOLIt ,lllill .lillll Carbide in the operation of this plant. Participation Mandatory The river tiasin approach to stream pollution control is not a new idea. In 1904 Kaiser Wilhelm II created a river basin pollution control authority in Germany's highly industrial ized Ruhr Valley. Participation was made mandatory for all industries in the Ruhr. When concern about industri al poUution of streams aroused serious concern in the United States a few years ago, Karl Bendetsen, chairman of Champion, then known as U.S. Plywood-Champion Papers, Inc., made a speech to wildlife conference in Chicago on the subject. Bendetsen said it was foolish for every plant to have its own complete water purification equipment. He urged the river basin approach. James M. Quigley, former Federal water commissioner, and Interior Secretary Stuart Udall became interested in the idea a little earlier and so did several foundations. Udall and Quigley went to Germany to look at the program in the Ruhr Valley. Only One State Involved Quigley determined to get such an attack on water pollution started in the United States. His first target was the Delaware River in the East. He soon gave that up because it would have meant dealing with the governments of four states and a number of big cities—too tough a political challenge. Next he hit on the Houston Ship Channel, where there was only one state involved. He believes the new river basin approach to stream pollution control in Texas will be successful and will encourage the same approach elsewhere. "I'm not saying this is the way water pollution should be handled in every part of the country," Quigley said, -';^but it seems right for areas such as the Delaware and Ohio rivers with their large industrial and urban population concentrations." over the inflation problem Exchange was moderate. Shortly before noon, the widely watched Dow Jones 269, among the 1,574 issues on the tape. The two-hour volume totaled about 7,600,000 shares, compared to 5,500,000 shares traded on Tuesday during the compa rable period. Wall Street observers said investors were faced with too many uncertainties and preferred to back out of the market. Among those uncertainties were administration actions to handle inflation and the chance of a lowering of the investment tax credit to slow inflation. Also there was some concern over the situation in Indochina. Wheeling Pittsburgh Steel was the most active issue, off % at 14% on 108,900 shares. On Monday the company reported a lower March quarter net. Leasco Corp, preferred (ex- dividend) was second, off VK at 27V2 on 107,800 shares. Eastman Kodak was third, off 2^4 at 132% on 102,100 shares. Prices on the American Stock Exchange were sharply lower in light trading. Circle K Corp. was the most active Am^x issue, off % at 12% on 71,700 shares. Technicolor was second, off V4 at 10 on 56,100 shelves, and TWA warrants were third, up VK at 18% on turnover of 53,200. On the Big Board, computer and electronics issues were sharply lower. IBM and Burroughs both lost 7%, Motorola 3% and Texas Instruments 1%. Discount Rate Increase Not Too Important NEW YORK (UPI) - Among many outside factors now acting on the . market—fhrst quarter earnings, stepped-up inflation, short interest figures recently released—hivestors are Wall Street Chatter now weighing the implication of a rise in discount rate by the Federal Reserve Board, %, F. Hutton says. "We do not think that the discount rate incij'ease will have too much Impact on the stock market here tiiougb it could hardly be construed as a bullish development," the firm says. It's still early to say a spring rally is certain, but some signs are combining to brighten the outlook, according to the Dines Letter. The number of New York Exchange new lows has recently developed " a series of descenduig peaks for the first time all year," and the number of new highs indicates a small breakout. "Meanwhile, the market is holding above the March 23 low at 916, and unless this is penetrated we are willing to give the market somewhat more of a chance," the company says. District Student Cliaperone Policy AfitNODON - District 217 Board ol Education set a policy fw future student trips at a Tuesday night meeting. After a discussion, board members" agreed that one chaperone for each 10 students will be a requirement for the senior trip this year and future trips. Dr. Jay Sandercock, board president, said this morning that the board will probaWy vote to Incorporate the decision into board policy at the next meeting. Mike Gordon, Abingdon High School senior, appeared at the board meeting and asked that the requirement ol lour faculty members for the s^or trip be relaxed, since dass members had not been able to recruit lour teachers for the outing. THE BOARD set the requirement and told Gordon that chaperones could be faculty members, board members or senior class parents, with two to be teachers either from the junior or senior high school. Sandercock said (he board's hesitance stemmed from disciplinary problems on previous trips. Claude Rose, superintendent, told board members no discipline problems are anticipated lor the trip and none will be c<mdoned. Board members will also consider an after-sdiool de- tentim program at its next meeting. Rose presented a proposal to board members whteh would require students guilty of miiA)ehavior in dass to spend a detention period alter school hours. The length d the detention would be set by the faculty according to the type of misbehavior. SANDERCOCK said this morning that present procedure calls for students who Knoxville ANNABEL PETERSON CORRESPONDENT Home Addreu: 310 N. Timber St. PhoiM 280-381S Flea Market To Be Held In Knoxville KNOXVUJ-E - Knoxville Busmess Assn. will sponsor a flea market April 28 at 8:30 a.m. in the city park across from thei courthouse. Any church, school or organization may set up stands. Dealers from Peoria, Galesburg, the Quad Cities and sur- rounduig areas have indicated they will participate. In case of inclement weather it will be held in the Knoxville Community Fire Station. Mrs. Carlisle Smith recently attended the 82nd Continental Congress of the National Society Daughters of the American Revolution in Washington, D.C. She was a delegate of the Rebecca Parke Chapter DAR, Galesburg. force Crew Returns On Rescue Ship AGANA, Guam (UPI) - A Scottish freighter sailed toward Okinawa today with the 65-man crew of the U.S. Navy minesweeper Force, which sank after a fire Tuesday in the Philippine Sea about 820 miles west of Guam. First reports reaching Guam said some of the men suffered smoke inhalation, but there was no indication of any serious injuries. There was no request for immediate medical assistance. "The men are apparently all in good shape," a Navy spokesman said today. He said the rescue ship was expected to arrive in Okinawa early Friday. It was en route to Japan from Australia when it picked up a distress signal from the Force, which was returning to its home port here from mine clearing operations off Haiphong, North Vietnam. It caught fire and sank shortly after its crew clambered aboard lifeboats. The Navy spokesman said the fire—its cause is still not known —could not be controlled and the prew had to abandon ship. ABINGDON MRS. GfiRALDINB BAUER CORRESPONDENT Homa Address: RFD St. Augustine, HI. Ph. 462*2477 misbehave to be suspended from class. "That doesn't do anyone any good," he commented. In addition to detention, a student would be ineligible to participate in any extracurricular activity durbig the time he is ui detention, Sandercock said. Charles Head, a former board member, spoke during the audience to visitors and suggested that the board consider buildhig a new high school on land owned by the district south of the nursing home on the Berwick Road. He also suggested that consideration be given to a 12- month school year to better utilize facilities. Head was unseated hi January when a Warren County Court ruled that land on which be resides is part of the Roseville district. Sandercock said this morning that unless smne action is taken before next fall, students whose parents reside on land hivolved in the boundary dispute will attend classes ui Roseville schools in the fall. A MONMOUTH attorney who is represenUng some persons who reside on the land has presented a proposal for a land switch, but no action has been taken either by the Abuigdon board or the Roseville board. Board members approved a proposal to have no speaker for high school commencement exercises this year. Prior to the regular meeting, the board canvassed the vote of April 14 and declared Arthur Donart, Roy Lewis, Stanley Lorenzen and Wayne Melton duly elected. In an election of officers, Sandercock was re-elected president and Harold Dunlap was re-elected treasurer. All previous board policies were adopted. In other action, the board: — Tabled action on textbook changes. — Approved the purchase of a new mower for AUis-Chal- mers for a price'of $400 less trade-in. — Okayed a request to the Abingdon Fire Department to bum the reamins of an old barn which has been torn down at the south end of the football field. ' —Approved the use of the high school gym for a benefit for the Linda DeCrane Day May 20. There will be no rental fee for use of the gym for that purpose. — Reminded board memr bers to fill out an economics interests statement by April 30. Senior giris were guests of honor when Abingdon Busi­ ness and Professionat Women had its ahnttal banquet at Abbe Lanes recently. Miss Betty Ja Parks was presented with the dub scholarship. Miss Anima Misa, Galesburg High School eit- change sjtudent from Ghana, was speaker at the banquet. Members of Cub Scout Paek 240 will have a wiener roast at Kamperstown east of Abingdon Thursday at 6 p.m. Each person is to bring his own food, drink and roasting stick. Rain date will be May 3. Abingdon High School golf team will travel to Monmouth for a match Friday at 4 p.m. Mr. and Mrs. Bill Vomer of CoUinsville spent the weekend with their parents, Mrs. Carr Ray and Mrs. Helen Verner. Mr. and Mrs. Roger Lincoln and Todd of St. Charles are guests this week at the home of his mother, Mrs. Lorraine Lincoln. The birthday of Mrs. Dean Winkler was noted Tuesday when her parents, Mr. and Mrs. Milford Hogan of Peoria, were guests at the Winkler home. * Mr. and Mrs. Leo KoUer of Roseville were hosts for a family dinner Sunday. Attending were Mr. and Mrs. Roy Beljville, Mr. and Mrs. George Waugh Sr., Mr. and Mrs. Larry Pitman and Mr. and Mrs. Larry Wolford of Abingdon, Mr. and Mrs. Glen Johnson of Altona, Mr. and Mrs. Richard Hughey of Galesburg and Mr. and Mrs. George Onion of Petersburg. Marge Coleman and BeclQr of Valley Station, Ky., were Thursday guests at the home of Mr. and Mrs. George Waugh. Notice to Consumers with Respect to Claims in Connection with Quinine^ Quinidine and Other Cinchona I^oducts An individual plaintiff has oom- meneed an action ind the Executrix of his estate has been designated as representative of a class consisting of the fdlowiog: All users of quinine, quinidine, other cinchona products, or any other related product or substance, for medicinal purposes in the United States or the Commonwealth of Puerto Rico. This action seeks damages resulting from alleged violations by the defendants of certain provisions of the antitrust laws. It is alleged in substance that during the period 1958-1966 the defendante conspired to re- lUrain trade and commerce In tM manufacture and sale of quinine, auinidine and other cinchona products. It is further alleged that as a result of this conspiracy purchasers of •uch products have been compelled ito pay higher prices than they otherwise would have paid. The defendants have denied the allegations and have denied liability. On April 2, 1973, certam of the defendants,* while denying liability, entered into a Stipulation of Settlement with the plaintiff class representative, a £opy of which is available for inspection at the Office of the Clerk of the Court, referred to below. Under that Stipulation of Settlement $725,000 plus the income earned thereon, less expenses of the settlement and such amount as the Court might allow in payment to plaintilfs attorneys for their fees and expenses, would be paid to members of the class hereinabove described in settlement of their claims against the settling defendants. The defendants have the right to withdraw from the proposed settlement on certain terms and conditions as set forth m the Stipulation of Settlement In the event the defendants exercise this option to withdraw, (ilaiatiff's attorneys will nave the right to petition the Court for an award from the lettlenient fund of their fees and expenses to that date. The class hereinabove described has been established by this Court for the purpose of administering the Stipulation of ^ttlement Now, therefore, take nolicci (1) You will be excluded from the class by this Court if you request such exclusion in writing sent to John J. Harding, Clerk of the United SUtes District Court for the Eastern District of Pennsylvania, P. O. Box 95, Philadelphia, Pennsylvania 19105, postmarked not later than May 24.1973; (2) If you do not request exclusion from the clau by May 24. 1973. you will be included in such class and any judgment whether favorable or not, including any judgment approving any setUement, will be inding upon you; (3) If you do not request exclusion from the class but prefer in^ connection with your iodividual claim to be represented by your own counsel rather than by counsel to the class representative, you may enter an appearance through your counsel but not later than May 24, 1973; (4) If you do not request exclusion from the class, you must mail to John J. Harding, Clerk of the United States District Court for the Eastern District of Pennsylvania, P. O. Box 95, Philadelphia, Pennsylvania 19105, postmarked not later than June 8, 1973, a statement indicating that you intend to file a claim and setting forth your name and full address. If you do not mail such a statement, postmarked not later than June 8,1973, that will constitute an authorization that money piaid }n settlement but not allocated to individual datms may be utilized for the public benefit in Such manner as the Court may direct; (5) A.bearing will be held before the Court, beginning on June 20, 1973, at 4:00 o 'dock in the afternoon in Room 4 of the United States Court House, Philadelphia, Pennsylvania. The purpose of the hearing Is to'determine whetner the proposed settlement ihodd be approved by the Court under Rule 23(e) ofthe Federal Rules of Civil Procedure. If me settlement is approved and becomes effective in accordance with the terms of the Stipulation of Settlement, this action wiU be dismissed on the merits as agamst the settling defendants with prejudice; (6) A hearing shall be held before the Court in Courtroom No. 4 in the United States Court HousCi Philadelphia, Pennsylvania on June 20,1973, at 4:00 p.m. for the purpose of determming whether the Stipulation of Settlement, dated April 2,1975, between plaintiffs and certain of the defendants is fair, reasonable and adequate and should be approved; (7) Any member of the class who objecU to approval of the settlement, or the judgment to be entered thereon, may appear at the hearing and show cause, if any be has, why it should not be approved and why judgment should not be entered thereon. However, any objection must initially be made in writing and filed with the Clerk of the Court on or before 5:00 p.m. on June 4, 1973, showmg thereon service of a copy on counsel for piamtiffs, Aaron M. Fme, Esquire, 1214 IVB BuUdmg, PhUadelphia, Pennsylvania 19103 and on counsel acting for settling defendants. Bemud J. Smdens, Esquue. 1719 Packard BuUding, PhUadel­ phia, Pennsylvania 19102; (8) No member of the class shall be entitled in any way to contest the approval of the terms and conditions of the Stipulation of Settlement, or, if approved, the judgment to be entered thereon, unless he has served and filed written objections in accordance with paragraph 7 above, and any member of the class who fails to object in the manner prescribed shall be deemed to have waived, and shall be foreclosed forever from raising any objections except by leave of court for good cause shown; and (9) If the prop(»ed setUement of Uiis action is approved, it is contemplated that thereafter each class member who has filed a timely notice of intention to file a claim will be given an opportunity to file a claim and will thereafter be given an opportunity to be heard as to the afiowance or disallowance of its claim and as to the portion of the settlement fund, if any, to be allocated to its claim. Dated: April 24, 1973 lohB I. Harding, Ckrk of th» United States District Court for flie Eastern District of Pennsylvania, P. O. Box 95, Philadelpliia, Pennsylvania 19105. •Societe Nosentaisc de Produiu Chimiques, S.A^ Mcwt Johnson & Company, R. W. GteeR i Co., Inc., Kezall Drug wd Chemical Company (the piCMOt nam* of which ii Dart loduatrlet Inc.), S.S.T. Corporttioii. Cbarla.L. Huiijcing « Co^ny, Inc., Vantores. Ltd., TcMmar, John A. Briftol-Myen Company, George Teaunar, John A.

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