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(Jalesburg Reglsfer-Maii GALESBURG, ILL., WED.. MAY 30, 1973 SfeU % PAGE 28 By Index Decline WASHINGTON (UP!) - tike a desert traveler with a nearly empty canteen, the administfa- tioft hail been savoring every drop 6* cheery ecfmomic news that trickles out. On Tuesday, the water turned brackish, but Treasury Secretary George P. Shultz iuftl cither White House economists refused to be dismayed by the first decline in the government's index of leading economic indicators in two and one-half years. The Index has a (perfect record of forecasting business cycle changes since 1948, although some swings in the index have not been followed by major shifts in the economy. With the economy growing at an unsustainable pace and inflation at a 20-year high, observers have been eyeing the index, which measures action in 12 diverse areas of the economy and averages them into a single figure, to see if the business boom may be ready to burst. The Commerce Department reported Tuesday that the index turned down for the first time since September 1970. Shultz called it "a little downward tick heavily influenced by the stock market." Stock prices are one of the 12 indicators in the index, along with the price of industrial materials, the length of the average work week and building permits. Shultz observed that the ABOVE ALL MAKE IT WHITE'S ROOFING 342-0185 administration is looking for a slowdown in the economic growth rate short of a recession and said, "Some bad news is good news." "We jusit don't want to go too far," ha added. Chairman Herhbert Stein of the Council of Economic Advisers brushed aside the report. "We don't read that set of tea leaves," he said, noting that (the index only pulls together statistics already Well known to economists. But the leading indicators do have psychological fallout, esjpeciolly on investors. Eliot Janeway, a private economist, viewed the downturn with some concern. "The business buying panic- seme call it prosperity—has now done its damage and created a vast indigestion/' he said. "By autumn we will see it fall apart with a thud." Other private economists adopted a wait-and-see attitude. Irwin Kellner, vice president and economist for Manufacturers Hanover Trust Co., said one month "does not make a trend, but it is interesting nonetheless." Richard Everett, vice president and chief domestic economist of Chaise Manhattan Bank, said (the April decline "wasn't terribly surprising." "The index has risen very vigorously and it was unlikely to be sustained," he said. "Everyone expects much slower growth toward the end of the year." Ireland Chooses New President Los Angeles Runoff Election "At least we gave the city 12 years of the best years of The Bradley victory makes Los Angeles the largest city in government its ever had," is what Mayor Sam Yorty, left, told his supporters when it appeared Councilman Tom Bradley, right, was headed for victory in the runoff for mayor. the nation to have elected a black man as its chief executive. UNIFAX Bradley Fulfills Impossible Dream, Is Elected Mayor of Los Angeles Rev. Dr. Martin Luther King Jr., was the youngest Nobel Peace prize winner when he received the award in 1964 at the age of 35. LOS ANGELES (UPI) Thomas Bradley, a black who rose through the ranks from rookie cop to councilman, achieved his "impossible dream" Tuesday, winning the mayoral election and ending Sam Yorty's 12 years as head of the nation's third largest city. Beaten soundly by Yorty in the race four years ago, Bradley overcame an early Yorty lead Tuesday and steadily piled up votes, getting them from black and liberal sections of the city. "We've come a long way," Bradley solemnly told supporters. "Tonight was the fulfillment of a dream — an I impossible dream—because the people of this city have given me the highest honor given to | any citizen—the office of mayor." End of Yorty's Leadership The victory of Bradley, a former police lieutenant who came to Los Angeles at the age mifl WED.~THURS.-FRI.-SAT. ^^wCw^ of 7 as the son of Texas sharecroppers, meant the end of Yorty's 12 years of leadership. "At least we gave the city 12 years of the best government they ever had," Yorty told his supporters. He was still smiling and ebullient, a sharp contrast with Bradley's somber demeanor in victory. Yorty had pinned his hopes on a heavy turnout of white middle-class voters in the San Fernando Valley and other areas that have been his traditional strongholds. A light voter turnout in those areas appeared to have sunk Yorty. "The change will be a radical one," Yorty said. t DUBLIN (UPI) -Two million persons in this overwhelmingly! Roman Catholic republic voted today for a successor to President Eamon De Valera, the nearly blind, 91-year-old legend of Irish politics who is leaving public life next month. Their choice lay between two candidates — Erskine Childers, j ICCS Seeks Replacement For Canada WASHINGTON (UPI) - The names of at least 10 Western or neutral nations have been raised as a possible replacement for Canada on the International Commission for Control and Supervision (ICCS), sources said today. Canadian External Affairs Minister Mitchell Sharp announced Tuesday that the 280- man Canadian Ibeam will be withdrawn no later than July 31, because of continued violations of the Vietnam cease-fire. The IOCS, which also includes Poland, Hungary and Indonesia, was established to supervise the cease-ffire. Diplomat sources said discussions will begin soon with North Vietnam to settle on a mutually [acceptable nation to replace Canada. Although no specific countries were under active consideration, sources said, a number of names have been mentioned. These include Norway, Brazil, the Netherlands, Belgium, Iran, Tunisia, Ireland, Finland, Colombia and Italy. 68, a Protestant whose father was shot in the Irish civil war more than 50 years ago, and Tom O'Higgins, a 56-year-old Catholic lawyer whose uncle was assassinated in the aftermath of the same conflict. Polling in the nationwide balloting opened at 9 a.m. and closed at 10 p.m. with the counting of ballots scheduled to begin Thursday. Childers, English-born and English-educated, sought victory as a gesture of conciliation to Northern Ireland, where a majority Protestant population and minority Catholics are engaged in a bloody, bitter dispute over the future of that province. He was supported by the Fianna Fail party led by former Prime Minister Jack Lynch. "I will pledge myself to be a president of all the nation," Childers said in his final appearance Tuesday before cheering supporters. I will do all in my power to heal the wounds of the past four years (in Northern Ireland)." For O'Higgins, who was backed by the newly - elected coalition government of Prime Minister Liam Cosgrave, it was his second shot at the presidency. He ran against De Valera in 1966, coming within 10,000 votes of defeating the most prestigious politician in modern Ireland. Although both candidates' family histories reach back to the civil war of 1922 that followed the signing of the Anglo-Irish treaty, the campaign was free from personal recrimination. Instead, both Childers and O'Higgins spelled out their intentions to give the symbolic office of president a more active role in the country. FASHION SUNGLASSES S -J57 Regular 1.97 4 Day* Only Pair Men'sondwomen'ssunglosses In eight fashionable styles. Tinted plastic Italian deml-frames, impact- resistant,tinted and smoke or brownlenses.Savel Reg. 68? Teens' Sunglasses, With Case 57* 72" ad|ustable aluminum frame with green and whltr plastic webbing. Charge ill Folding Aluminum* Plastic . 6x4x4 Web Chair 2.99 * ALL-PURPOSE "TWEED" RUG Sfi 24 88 9'xl2' nylon pile rug with Dure- ganfB) latex backing. Attrac t i v e. easy-clean tweed patterns. Save) Beautiful flora and print pat terns. 45"-46" wide. 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