The Kansas City Times from Kansas City, Missouri • 14

Life's Like That 14A THE KAN SA CITY TIME Friday October 3 1975 Burns Calls New York Fiscal Threat House Committee Subpoenas Kissinger appearance next week before the Joint Economic Committee President Gerald Ford and William Simon Treasury secretary have consistently downgraded the effect New defaulting on its bonds would have on borrowing by other cities and states In Albany meanwhile Arthur Levitt state comptroller announced that $250 million of state employee pension funds would be invtsted in state borrowing funds to aid Nw York The move raised hopes that the $23-billion state financing plan for the city might not collapse In Congress Rep Thomas Rees (D-Calif) introduced a bill to give the Emergency Loan Guarantee Board authority to guarantee the bonds of state and local governments up to $5 billion Woln On Pc DRESS 63rd A TBOOST 47th A FOREST 34th A TR005T 70th A PROSPECT i- 39th A CLEVELAND CWand 75th A PENN (WALDOkj Wi ARE PROUDfbSERVr SCOYChTFlU DELUXE Washington New deepening financial crisis poses a threat to the economy Arthur Bums federal reserve chairman said yesterday warning came amid growing concern over the financially pressed metropolis In the House legislation was introduced to aid city and state governments facing cash crises Burns declined to go into specifics about the New York crisis but said the finances of the city and New York State now are this crisis is not he said could injure the recovery now under way in our national In New York meanwhile the bailout plan for the city was propped up yesterday by the promise of pension money and Gov Hugh Carey said he was reasonably that the city would be saved fom default through November But the own fiscal picture worsened when the investment rating service declared that the problems so eroded the that it was downgrading the rating of the general obligation bonds from AA to Al Burns told the House Budget Committee he did not want to discuss the situation in detail because he was preparing testimony on the issue for an "But I hang John Denver just Bv Jim Adams Associated Press Writer The House Intelli gence Committee voted yesterday to subpoena Henry A Kissinger secretary of state to turn over a secret memorandum on the 1974 Cyprus crisis Otis Pike (D-N Yl chairman of the committee said it voted 9 to 2 to issue a subpoena to obtain a memoran dum that alleges State Department mismanagement of the crisis But Pike said the subpoena does not apply to the dispute with Kissinger over a new policy directive that prohibits lower level officials from testifying on recommendations they make in development of US policy decisions is sort of sitting there as a very serious disagreement between the committee and the Department of State" Pike said The memorandum however is related to that dispute because it was written by a former chief of the Cyprus desk at the State Department who told the committee he was prohibited by Law Day Any Plain Cloth COAT 129 to Beautifully Cleaned Finished DRAPES CC 39t BLANKET (SPREAD 12 SOFA A CHAIR COVERS and MnUdlw 3 pc nnlnl SUIT J69 ATSCOTCH-OELUXI "trousers SPORTCOAT HR SWEATER SKBT (Plain) LACHES SUCKS BIOUSE-SPT SHIRT SHIRTS Washington (AP) President Gerald Ford has designated Oct 12 as World Law Day in the United States and supported a world law conference being held that week in the capital Ford also said it would be a fitting bicentennial action if the United States could this year ratify an Equal Rights Admentment to the Constitution Kissinger's order from testifying on whiat his recommendations were during the Cyprus crisis The official Thomas Boyatt said that he and another official wrote the memorandum after the crisis setting out what they considered to have been State Department mismanagement of it Boyatt gave no indication what his recommendations were but a former US ambassador to Cyprus Taylor Belcher said operations officials tried to get Kissinger and his aides to intervene against the Greek coup in Cyprus that triggered invasion The committee approved the subpoena of Kissinger as it began the third phase of its investigation: Risks involved in US intelligence activities The first topic was Operation Holystone in which US spy submarines reportedly monitored Soviet missile activities for 15 years and were involved in accidents and near misses with Soviet ships The New York Times reported May 25 that one US submarine was damaged when it started to surface under a Soviet ship taking part in Soviet fleet exercises and that there were two known collisions with Soviet submarines Several members confirmed that Operation Holystone was the subject of their closed-door hearings yesterday but refused to give any details on what they heard Pike would say only that the committee plans to investigate several operations to explore all types of risks that might be involved in US intelligence operations "They go all the way from the risk of violating individual rights where people had their phones tapped to the risk of 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