Galesburg Register-Mail from Galesburg, Illinois on August 4, 1973 · Page 12
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Galesburg Register-Mail from Galesburg, Illinois · Page 12

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Galesburg, Illinois
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Saturday, August 4, 1973
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|2 Galesburo Rtottttr«Moll. GoliSburfl, Saturdoy, Aug. 4, 1973 Nixon Seeks To Make Home Buying Easier . ...... ^ a > •< .••«.*. *. t-^j-.^i^. .^lu.^^.,.« . ^ juut. _4*i> nhdittndn Arthur K. WASHINGTON(UPl)- Prcsident Nixon has proposed new financial regulations to mdke buying homes easier and saving money more attractive. But he remains under pressure to end the freeze on beef prices six weeks early. In a message to Congress Friday, Nixon called for removal of limits on interest rates that banks and other financial institutions can pay on savings deposits. He also proposed a tax credit as an incentive for lending institutions to invest more in home mortgages. "My recommendations, and the increased competition that would follow, should reduce the cost of the entire package of financial services for the consumer," Nixon said Beef industry spokesmen warned Friday that unless the price freeze is lifted soon, widespread unemployment and a possible disappearance of beef will result. Richard J. Harman, president of the National Restaurant Association, wired Nixon a warning that beef supplies are now at a "critically low level" and that many restaurants may have to shut down. Herrell DeGraff, president of the American Meat Institution, said 7,000 to 8,000 meat industry .workers were already out of work and that more would follow. He predicted that unless the Sept. 12 date for ending the freeze is lifted, "beef will essentially disappear from the supermarkets and from the rest of the country about the 20th of August." The Agriculture Department reported Friday that the slaughter of beef cattle this week was almost one quarter less thin one week ago, and [nearly one third less than the same week in 1972. In other economic develop* ments: -Federal Reserve Board iChairman Arthur F. Bums warned that if the demand for credit does not decrease to "an acceptable rate" in the near future, the board will take further restrictive measures. Judges Again Ax Nixon Impoundments WASHINGTON (UPI)Separate federal judges Friday handed President Nixon two defeats concerning his impoundment of mental health and child nutrition funds—and [one victory on Nixon's cutback of the antipoverty program. These were the rulings: —U.S. District Judge Gerhard A. Gesell ordered the Department of Health, Education and Welfare (HEW) to release more than $52 million appropriated by Congress to set up and staff community mental health centers. He ruled that President Nixon's impoundment, or refusal to spend, those funds was unconstitutional. •'-U.S. District Judge Oliver Gaseh, in a similar ruling, ordered the Agriculture Department to make available $34 million in presidential^ impounded funds for child nutrition , -But U.S. District Judge Thomas A. Flannery approved Nixon administration plans to transfer to other agencies 11 antipoverty programs of the Office of Economic Opportunity (OEO), which President Nixon is in the process of dismantling. Ruling against employes who challenged the legality of the transfer, Flannery called it "fully supportable on a rational basis" _ to achieve greater efficiency. Hotel Collapses Lights illuminate the scene as rescuers con- Hotel crashed to the street. The collapse piled tinue to work late yesterday after sections of tons of debris into a 30-foot high heap. New York's 8-story, 102-year-old University UNIFAX New York Hotel Collapses, Thirteen Hurt, 6 Missing NEW YORK (UPI) - The were century-old University Hotel,(today Once the city's finest but run down in recent years, collapsed with a roar Friday afternoon. Thirteen persons were injured unaccounted for early A mother and her child who had been on the missing list were located elsewhere. Other rescue workers found 50 persons, many in a daze, and and six residents of the hotel; evacuated them from 23 rooms, were unaccounted for. Although workers dug through the rubble in search of possible victims, officials hoped the missing all were away from the building at the time of the collapse. No fire or explosion was reported, although witnesses said they heard a sound like an explosion before the eight-story, 400-room hotel collapsed into a 30-foot heap. Glen Warren, 55, a resident of the hotel since 1960, said "I heard a cry of distress, heard a blast and opened my door and saw seven floors of nothing." "I just heard a rumble and the walls started coming in," said Leroy Z. Ambrose, a hotel resident. The collapse "sounded like an explosion," a man who works across the street from the Greenwich Village landmark police said. The injured included three policemen and a fireman. [Nobody was seriously injured. The hotel, Manhattan's oldest, opened in 1871 as the [Broadway Central and was considered the city's most elegant. It was a favorite hangout of Diamond Jim Brady. Railroad magnate Jim Fisk was shot on the hotel's staircase in a loye-triangle killing in 1872. The hotel was the site of some meetings 4hat led to formation of baseball's major leagues. Recently, however, the hotel had become dilapidated and [weakened by the vibrations of subways and traffic, and its tenants in large part consisted of welfare clients. Drug use, H «. , muggings and thefts became Rescue workers dug through common. After the state sued the- debris for possible victims. |the hotel management last Six" residents of the hotel still year, charging the building was BIG CAR RACES Saturday, Aug. 4 at the KNOX COUNTY FAIR KNOXVILIE, ILL 7-BIG EVENTS - 7 Races 8 P.M. Time Trials 7 P.M. Reserved Grandstand Seats Phone 289-2714 For Advance Salt •Jeacher* Unreserved an "open and notorious public nuisance," the hotel agreed to try to clean up its operations. Gainesville 8 Wrist Rocket Is Reported GAINESVILLE, Fla. (UPI) — A former private in/vestigia- tor testified Friday that one of the "Gainesville Eight" described tbo him how "wrist rockets" would be used against police at last year's Republican National Convention. Charles R. Marshall Sr. was the prosecution's leadoff witness in the trial of seven members of the Vietnam Veterans Against the War and one supporter—all accused of plotting to,violently disrupt the GOP convention last summer at Miami Beach. U. S. District Judge Winston Arrow scheduled only a limited morning session in the trial today with the . afternoon devoted to a hearing on defense charges that two FBI agents attempted to eavesdrop on conversions between the defendants and their attorneys. Marshall testified that defendant Scott Carnil came to his office on May 23, 1972, and showed him a slingshot he called "a wrist rocket." Marshall, who managed some rental property leased by the VVAW, said Camil told him the slingshots would be "used by VVAW marshals at the convention site in Miami Beach . . . against anyone who opposed them, especially the police and Highway Patroi." The government has accused Camil, John Kniffin, Stan Mictaelsen Jr., John K. Briggs, William J. Patterson, Alton C. Foss. Peter J. Mafoorcsy and Donald P. Perdue with conspiring to disrupt the GOP convention with "fire teams" that would be armed with automatic weapons, explosives iand wrist rockets. | I World Record Sundae Served , SAN FRANCISCO (UPI) •i San Francisco, celebrating the jcentsnnial of its cable cars, served a world record 1,201- pound sundae Friday at a party in Union Square. Mrs. Hans Kkssmann, who led the fight eight-years ago to preserve the little hill-climbing cars, stood on a step ladder to put the final scoop on the 8 -foot- high confection. 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