Galesburg Register-Mail from Galesburg, Illinois on June 8, 1973 · Page 15
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Galesburg Register-Mail from Galesburg, Illinois · Page 15

Galesburg, Illinois
Issue Date:
Friday, June 8, 1973
Page 15
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Sales Waster-Mail GALESBUflG, ILL., FRCJUNE 8, 1973 SEC. 2 PAGE 15 Soviets, U.S. Sign Natural Gas Pact Thegi MOSCOW (UP1) Soviet Union and two American companies signed an agreement of intent today to develop a $10 billion project to move natural gas from the vast resources of Siberia to the West Coast of the United States. The arrangement between the Soviets, ;md the El Paso Natural Gas Co. and Occidental Petroleum Corp., was announced at a news conference by Occidental, chairman Armand Hammer. The 75-year-old oil company executive said implementation of the project will require the final approval of tooth the governments. If approval is forthcoming, he said it would take about six years until "Russian natural FOR LOW LOW COST AUTO INSURANCE Contact: Tony Lischwe MILLERS MUTUAL INS. 411 BANK Of GALESBURG BLDG. 3434166 or 343-6986 as would,be cooking American steaks." The deal is the latest in a decades-old business relationship between Hammer and the Soviet Union. In April he concluded an estimated $8 billion barter agreement to provide 'the Soviets with fertilizer chemicals in exchange for other Russian chemicals. The natural gas project envisages movement of two billion cubic feet of natural gas per day through 2,000 miles of pipeline from Yakutsk in northern Siberia to the Pacific port of Vladivostok. From there it would go by tanker to ~ the U.S. West Coast, Hammer said. "At current market prices, such gas over the 25-year term Of the agreement would exceed $10 billion to the U.S.S.R.," he said. "It is expected that the sum will be spent for U.S. goods and services." Hammer explained that the Russians told him they planned to use revenue from the gas sale to finance purchases of goods and services from the United States. The project would require non-ruble financing, excluding ships, of about $2 billion, he said. Golda Meir Welcomes Willy Brandt to Israel Brandt, Meir Resume Talks Dollar Slips In Money LONDON (UPI) - The dollar lost ground in early trading today on most of the world's major money markets and the price of gold edged up slightly on the big London market. Bankers credited the dollar's latest setback to reports that President Nixon has no immediate plans for economic measures to curb American inflation. In Paris, the financial dollar *-used by tourists and speculators—fell 1.5 per cent, erasing Thursday's gains on that market. It opened at 4.27 francs, equaling Wednesday's close, but well down from Thursday's 4.3350 close. Gold in London, the world's most important bullion market, jumped $1.25 from Thursday's close to open today at $120 an ounce. The metal was unable to hold on to the gain, however, and by mid-morning slipped to $1.18.50, down 25 cents from Thursday's close but still up from the $117.50 touched trading earlier that day. In Hong Kong, gold dosed higher at $105.80 an ounce compared to Thursday's $104.60 closing and the dollar plunged from Thursday's 6.065 Hong Kong dollar close to end tbl day today af, 5.055. In Frankfurt, the U.S. currency started changing hands at 2.6245 marks, down .58 l&reertt from Thursday's close a^*X84(J0 marks. Dealers prediSiil it would go even lower. *;£ r Americans living on ^dollar salaries in Europe were*irioan- ing. The sl,ide in the ddHTlr by up to .32 per cent combined with inflation has jumped their, cost of living by 42 per cent ormore within the past 18 months. ABOVE ALL MAKE IT - WHITE'S ROOFING 342-0185 r.,; LOUIE'S LIQUORS 41 S. Seminary Phone 342-4515 OPEN 8 A.M. TILL MIDNIGHT Imporfad J. B. SCOTCH 5th $5.99 SEAGRAM'S 7 CROWN FIFTH 4.29 FOUR ROSES or ANTIQUE 5th $3.69 CANADIAN MIST. House of Stuart 5th $3.99 ANDECKER or MICHELOB 6 ^ z .*1.59 PABST 24—12-Oz. Cans-* $3.99 OLD STYLE 12—12-Oz. Cans $2.09 STAG -24— l &Oz. Cans $3.99 SCHLITZ 24—12-Oz. Cam NR $1.05 FALSTAFF 6-12-Oz. NR $3.99 MIX or MATCH KESSLER - Blend OR 10 High - BOURBON 3 * $ 10 so PABST or STAG Q 12-Oz. $138 O NR | MIX or MATCH KESSLER - Blend OR 10 High - BOURBON 3 * $ 10 so CHAMPAGNE COLD DUCK 5th $1.59 8 Yr. Old Walkers Deluxe BOURBON $>|74 Fifth H Glenmore Vodka OR Fleischmanns Gin Qt. $3.99 OPEN SUNDAY 1 to 8 We Reserve the Right to Limit Quantities JERUSALEM (UPI) - Chancellor Willy Brandt, on the second day of an historic state visit to Israel, held more talks today with Prime Minister Golda Meir only hours after she asked Arabs to follow his example in seeking peace with the Jewish state. It was their second and last scheduled meeting during Brandt's five-day visit, the first by a West German chancellor and one publicly intended to heal wounds inflicted by Nazis who murdered six million Jews. Brandt was welcomed Thursday by official fanfare and he immediately made an emotional gesture to his hosts by visiting a memorial to the six million. Brandt was heavily guarded and received a few fooos but there were no serious incidents. About 500,000 former concentration camp inmates live in the Jewish state. Mrs. Meir Urges Compromise At a dinner Thursday night, Mrs. Meir urged the Arab world to take a lesson from Brandt and compromise with Israel on a Middle East peace. Brandt expressed his hope for peace, but said West Germany would not act as a mediator. After a brief courtesy call today at the home of new P r e s i d e n t Ephraim Katzir, Brandt went directly to Mrs. Meir's office to renew their talks. Unlike their earlier session, they were joined this time by Israeli Foreign Minister Abba Eban. Officials of both countries said Brandt would probably extend—and Mrs. Meir would tentatively accept—an invitation for her to visit West Germany. She has previously refused to make such a trip because of the Nazi slaughter of fellow Jews. Officials said their meeting would deal specifically with the Arab-Israeli crisis and perhaps with the possibility of more German reparations for the families of victims of the Nazi era. ' Her Statement Mrs. Meir said in her statement Thursday that the Arabs should look to the example of Brandt's willingness to compromise with old ene­ mies and to mend fences as he has done with the Eastern bloc. "You have shown a shining example which I think should be studied the world over," she said. "We want to teach this lesson to our neighbors." The Arabs, she added, must learn to compromise on their demand for the return of all territory lost in the Middle East war six years ago this week. Brandt said that the memories of the Nazi era had made it difficult for him to come to Israel. "A visit to Israel by a German head of government is not a matter of course," he said. "The fact that this has been possible Is proof, if I may say so, of the courage and power of reason." U.N. American Ambassador Lauds Soviet Union Spirit of Cooperation UNITED NATIONS (UPI) U.S.. Ambassador John Scali said Thursday fchat peace in the Middle East depends partly on cooperation beitween the Soviet Union and the United States. In an unusually warm dinner speech to launch a national U.N. Day, Scali also praised the Soviet ambassador by name for his spirit of cooperation and said American and Soviet leaders were committed to peace. Diplomatic sources said Scali's speech raised hopes that the current council review of the Middle East crisis, intended to find some way to solve the long bitter dispute there, would not end in failure. Government Cooperation "If there is to be a lasting peace in the Middle East," Scali said, "it will be partly because of cooperation between the United States and the Soviet government in encouraging both ' sides to negotiate their differences before it becomes an explosive threat to international peace and. security." He said- Soviet ambassador Yakov Malik, who is serving this month as council president, reflected the search for a step- by-step improvement in cooperation between the Soviet Union and the United States. Scali rejected the idea that the Middle East represents "a record of United Nations failure and futility." First Statement I Scali's address was the first U.S. statement in the council's current Middle East debate, which so far has produced little more than a restating of previous positions. Foreign Minister Mohamed Hassan el-Yazzat of Egypt, who cdled for the council review, said Thursday that his government is ready to negotiate, but he said he considered the presence of Israeli troops in Arab territories a condition that would bar such talks. When You Ask For More Ask For Us masTffm Watson Marine Sales ROSEVILLE, ILL. Her own phonc.worth graduating for When you give your child her own telephone for graduation, you're giving the whole family a gift. She's delighted, of course. And the family phone is freer for others to use. This June, give a phone. Intra Stale Telephone Co. SEE US TODAY MAIN AND CHERRY STREETS GALESBURG, ILLINOIS

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