Galesburg Register-Mail from Galesburg, Illinois on July 11, 1973 · Page 31
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Galesburg Register-Mail from Galesburg, Illinois · Page 31

Galesburg, Illinois
Issue Date:
Wednesday, July 11, 1973
Page 31
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Third Money Crunch Here, Claims Firm NEW YORK (UPI) - "the third money crunch in seven years is how upon us," according to The Lehman Letter. It says "a disturbing number of banks" are borrowing close to $1 billion daily in the Federal funds market and the supply of funds from smaller banks appears to be dwindling. Investor interest on the money market is only nominal except at distressed prices, it adds. Both business and labor are critical of recent price freeze and promise of a tough Phase IV contrals program is "intended primarily as a stopgap measure to afford a perplexed administration the time to devise a more complete anti- inflation package," says Irving Trust Co. The bank says the public's disenchantment with the freeze was underscored by a sharp drop in the stock market and a further weaken tag of the dollar abroad. "The 'boom-bust' danger that loomed earlier in the year could be less of a threat since recent developments suggest the economy is beginning to slow down," says Manufacturer Hanovers Trust. A lower level of residential building, a decline in annual automobile sales, and a rapid buildup in consumer credit indicate the overheated economy is starting to cool, the banks says. A. W. ZeJpmek Associates says "the official price of gold will have to be raised, even if the monetary rate of gold remains limited and restricted." A boost in the price of gold may only occur when inflation becomes manageable "or the specter of a serious recession develops," the letter adds. In such a case, it says, there would be overwhelming support for a substantial increase from the current free price, probably in 1974. Quake Jolts Northern Japan TOKYO (UPI) - A weak earthquake jolted northern Japan early Wednesday but caused no injuries or damage, the weather bureau said. It said the tremor, registering one on the Japanese intensity scale of seven, was recorded in Sendai, Fukushima and Shirakawa. Supersalesihan Sponsoring Telethon to Help Democrat* .!6oJcibujfO_R<fli.stef*Moil > Ckilesbura,111. Wednesday, July 11, 1973^31 By DEAN C. MILLfiR system tnd restore morality to UPI BUSINESS EDITOR NEW YORK (UP!) - Super* salesman John Y. Brown Jr., like Alexander the Great, is never happy unless he has new worlds to conquer, Bnatoeti Today This time around the man who built Kentucky Fried Chicken into the world's largest commercial food operation wants to sell the American public on the need to "buy back its government." Brown, 39, will sponsor a six- hour prime time national telethon Sept. 15 over NBC-TV in an effort to get the Democratic party out of hock. "Actually," said the Kentuckian with the boyish smile and wide-eyed look, "the $9 million we hope to raise through audience contributions really is meant to save the two-party the political process." Brown argues that it's impossible to have a two-party system when one party has $50 million to spend and the other is $9 million in debt. He also doesn't think big contributions should be allowed. "Nothing over, say, $5,000; I Just don't believe in Santa tiaus," laid Brown, implying that big contributions lead to big favors being asked and given, leading to a general breakdown in political morality. "From shady favor-giving we go into the whole bit—spying, bugging, espionage," he said. "If a lot of little people stepped in with their small contributions they could regain control of their parties." Raising $9 million from the "little people" might seem optimistic, but Brown has proved his salesmanship before. Dollar Gains Again Today By ANTHONY NICHOLAS LONDON (UPI) - The dollar leaped upward again today in the foreign exchange markets of Europe and Asia, scoring advances for the third consecutive day. Opening dealings on world money markets showed the dollar again shaking off a slump that lasted for months and sent it tumbling to record lows. The dollar price was up in Paris, Amsterdam, Frankfurt, Tokyo and London and holding steady in Hong Kong. As the dollar surged, the price of gold in London fell $4.25 an ounce, selling for $119 an ounce. The dollar gained one-half cent against the British pound in first quotations today and was priced at $2,545 to the pound. It advanced five to eight centimes in Paris, buying 4.15 to 4.18 francs today compared with- 4.10 Tuesday and moved up another 1.92 per cent in Amsterdam today to 2.66 guilders. A Paris banker said the dollar is climbing because government banks intervened Tuesday by buying excess dollars. "The hope—or threat, however you view it—of more intervention is keeping the dollar going up," the banker said. In Frankfurt, the dollar surpassed the 2.40 mark trading level for the first time in eight days. The American currency opened at 2.42 marks after closing Tuesday at 2.3750 marks. It last registered in the 2.40 range on July 3. In Zurich, the dollar opened at 2.895 Swiss francs, up from Tuesday's closing price of 2.8829. Gold dropped $3 an ounce on the big volume Zurich market. The intervention reports came after a weekend meeting in Switzerland by the chief bankers of 19 of the world's richest non-Communist countries. A statement suggested the. bankers agreed on some sort of support—not spelled out —for the dollar. Rio Boy Scouts Complete Camp ' RIO—Three members of Rio 1 Boy Scout Troop 123 returned home July 7 after spending a week at Prairie Council's Fed!' hedmer Scout Reservation near Gilson. David Holt earned merit badges for rowing and camping, Tony Robertson for cooking and swimming and Kenneth Schlobohm for cooking and rifle-shotgun shooting. Holt also qualified as a scout lifeguard. William Schtobohm, scoutmaster, accompanied the boys. As a part time dooMo-door salesman for Encyclopedia Britannia during unatigrtdti* ate days at the University of Kentucky Law School, he made more than $25,000 a year. Four years after graduation from law school, Brown bought the rights to Colonel Harland Sanders' recipe for fried chicken and franchising history Iwas made. In seven years Kentucky Fried Chicken was worth about $500 million. Because of stock incentive plans Bfown at one time had 25 millionaires working for him at! KFC. That wore mc out; I was a basket case and had to get my head on again," said Brown. "So I sold out, or rather merged it, with Heublein, Inc. and stayed on as chairman of the board." Eyes Senate Seat Although he brushed off I suggestions that he sold KFC to try politics, it 's known he has an eye on a U.S. Senate seat, a [spot for which his father campaigned unsuccessfully seven times When politics failed to jell, Brown bought Lums Restaurants for $4 million. It's a 350- outlet chain featuring beer and hotdogs and has about $70 million in sales. "The one thing it needed was quality food with a uniqueness," said Brown. He thinks he's found it in the shape of an "Ollieburger" created by an Archie Bunker type man from South Miami who has been cooking hamburgers for 37 years "I believe Ollie Gleichenhaus could be another Colonel San ders," says Brown. Ollie, a put-on artist who insults cus tomers if they ask for, mustard or ketchup, says he uses 32 spices ,and a special sauce in cooking his 'burgers in a waffle-iron type grill. The "Ollieburger" is being featured at Lums Restaurant and also is being geared for franchising. Brown and his crew are busy selling "Ollie's Trolley" which he predicts will be another Kentucky Fried Chicken. The first "Trolley" was opened up four months ago in Louisville. "It has a $100 a day break-even figure and already is taking in about $600," says Brown. They also have been sold in Atlanta, New Orleans, Dallas, Houston, Cincinnati, Columbus, Detroit, Los Angeles' and San Diego. Brown expects to have 150 of his "Trolleys!' on track by the end of the year. SHOTT Roth Bloekhowk 41 BACON fefl REJO¥CE Z .1 R3GRAPEFRUIT 1 Pkt 98C IB SECTIONS . & •Stffc REJOYCE ~j"T03"~M00 IS m SPINACH^ _ *JrJ )Z\9 t% • J- M Ha VAN CAMP "F 300 Pjjl Pork Chops JS p 0RK 5 g. $ *T» ^ BEANS ftS? u 1 "" Most Flavors LOIN END K |C| i/ 3 Prices CENTER CUT BANQUET TV LOIN END ffk lf*F V2 Pork Roost &2 CREAM _ _ ™J9l S T"™ Avg. 12 oz. Jor Country Style KRAFT "ream Topping Chocolate •• Caramel Vanilla Caramel - Pineappl TIDE Size 10c OFF 29c= . 3 Chicken - Turkey Sal ,v *mry Steak Meat Loaf 79c£ m/. POTATO or MACARONI SALAD LEAN and BONELESS CHARCOAL STEAK $ lb |69 OUR OWN BULK SAUSAGE 1 lb 89c Bagged ICE • * 55c IMAMS » 131 ARKANSAS PEACHES -- IP* CEUO Carrot's DAILY DELIVERY Except Wednesday and Sunday Phone 3424212 Call Before 12:30 for Same Day Delivery After 1:30 for Next Day OPEN EVERYDAY 8 AM to 9 PM 705 EAST FREMONT Mel's Red a White i KNOXVILLE, ILLINOIS FREE PARKING NO METERS Open Sunday • 7 AM. till 6 P.M. Mon. thru Sot. • 7 A.M. till 9 P.M. RED& WHITE FOOD STORES FREE '100 CASH DRAWING No Purchase Required To Win, Get A Free Ticket Each Time You Visit Our Store. Thiirs., July 12th FREE To Pint 100 Cuitemert. 1-Lb. BREAD Fri., July 13th FREE To Pint 100 Customers. 1 Senn's Half & Half Sat., July 14th FREE To Pint 100 Customers. 1 Chocolate MILK Sunday, July 15th FREE To Pint 100 Customers. 1 Stalk CELERY 3 -LB. or MORE Ground Beef lb. 89c CENTER CUT ROASTS —lb. 89c Chuck Steak -lb 89c BLADE CUT Chuck Roast lb. 79c Rib Steaks lb. $1.39 Rib Roasts lb. $1.29 Beef Stew lb. $1.19 O.M Wieners „ lb. 99c O.M. VARIETY Lunch Meat -12-ox. pkg. $1.09 BONUS SPECIAL 8 pk. RC COLA 38c PLUSC DEPOSIT With $5.00 Order Fresh Peaches lb. 374 White Gropes lb. 49c Head Lettuce hd. 37$ Cello Carrots pkg. 19c Heinz Catsup 20-oz 39c Wyler Lemonade 12-oz. 39< RAW : Lima Beans 303 29c BLUE BONNET • MARGARINE Mb. 89c RED & WHITE I Frozen Lemonade . 12-oz. 2/49c BONUS SPECIAL Red & White MILK 99c Gal. Jim Sayrs WESTERN AUTO "The Family Store" 320 East Main, Knoxville, III. Open 7 AM - 9 PM Mori, thru Sot. Open 9 AM - 5 PM Sunday PLENTY OF FREE PARKING — MANY DEPARTMENTS — Auto Accessories — Tires — Batteries — Appliances — TV — Radio — Watches — . Housewares — Hardware — Toys — Furniture — Sporting Goods. VACATION DAYS SALE!! STARTS TODAY Just A Somple of Solo Prices. ENDS JULY 21st Mony Other Items Also on Sole!! AUTO DEPT. Ventilated CUSHION 99< 2N5201 2-Ton Fin Lock JACK STAND A5030 Mm Wizard 2-Ton Ratchet BUMPER JACK $C49 A5054 mJ Wearwell MOTOR OIL Non-Detergent 2T1502,4,6 29c TRANSMISSION FLUID 2T3090 39c Spin-On OIL FILTER $139 R5094,10,20 I TURTLE WAX?? $|49 89c Vinyl Top CLEANER. High Gloss CAR WAX 12-0* Wizard WINDSHIELD WASHER 2T9773 COOLANT SAVER KIT T7800 Mm HOUSEWARES SPRAY STEAM, DRY IRON $10" J2019 I Mm MELAMINE Service lor X $Q88 K9155,6 O Aluminum ICE CUBE TRAY K4125 99c Plastic ICE TRAYS 19< Bag of 60 CLOTHESPINS K4076 97* 6-8 Ft. POWER CORD SET loth Only 453139 97e lt-Incb CAST IRON FRY PAN $179 K9021 I SUPER BUY Deluxe Zig-Zag SEWING MACHINE Reg. $86.99 JE#%99 ONLY Qrw 3K8846 SPORTING GOODS Box of 3 GOLF BALLS .2940 99c Can of 3 TENNIS BALLS $179 G2562 I ZEBCO 202 REEL $<£39 "Daisy 1000" AIR RIFLE $ 14 49 6 Player CROQUET $£99 Revelation TENNIS RACKET $444 AIR MATTRESS $Jil COLEMAN FUEL $129 1 -Gallon I Lightweight BACK PACK Mony Bosebolls Bats & Gloves OUTDOOR LIVING 73 Qt. Our B est 861297 CHEST 16" KETTLE GRILL ; $ 27? 661069 5-Piecc PATIO SET 2 Chairs - 1 Lounge 2 Tables 39' CHARCOAL •Lb. Bag 1 • 1 I 69c 1 t 1 « CHARCOAL LIGHTER Qt. Can 3V« BABY DEPT. Nylon Mesh PLAYYARD 10-Ft. Sq. *\A*l 859046 Mm *f * > > 1 < 1 TRAINER CHAIR: $6 66 .: 859049 • > Cribs-High Choirs Strollers \ 4 i In Stock Todoy*; Visit Us Soon ! Open 92 Hours A Week For YOU •

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