Hope Star from Hope, Arkansas on December 29, 1977 · Page 12
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Hope Star from Hope, Arkansas · Page 12

Hope, Arkansas
Issue Date:
Thursday, December 29, 1977
Page 12
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Page HOPK <ARK .1 STAR Thursday. December 29. 1977 Busi- BJ leaders are praising the «FP^nmi< nt of G, WfJIJam Mil- Inr to h,-:sd the Federal Reserve Board despiu? their strong sup- fort for the man he will sue<"|"ed. Arthur F. Burns. MlHer, 52, chairman of Test- f"n Inc. of Providence. TU , «nd s director of the Boston Federal Reserve Bank, I* to take Hums' place when he :>t*ps down as chairman Jan 31. Burger price in going up leaders praise appointment of Miller to FRB ?K'M|f?n O! ft DetFfO- ms^^ \r#its.tur,?r* int'<k««*w, MH «. .». - ; _ Wi'Ji the election of ft CTflHr president. Burns' rbsrw, of reappMntrnent sp- pf wed ilim early this year be- tftust- of his conservative money poiicies that antagonized labor I'-stJer* However, businessmen liked the stability represented (>y Burns' anti-inflation policies And urged President Carter to refippqint him to maintain business confidence. An optimi.ilic s community is likely to rime iong-range investments, rrBaling new Jobs, they argued. farl*t, faced with this dl- I'-mms. said he contacted dor- ens <rf bufiw.ssrnen before 'hosing Miller as the nation's chief money manaf.;<-r "They expt^sfted overwhelming confidence and approbation <vf Bill Miller to be rhairrnsn," Cartf-r (old reporters Wednesday. Many businessmen expressed surprise hut support for the choice. "This is surely one of the finest appointment* President Carter has made." said Heath Urry, president of the National Association of Manufacturers. The chairman of the Bank of America, A.W. Clausen, said he thought the selection was "super." Irving S. Shapiro, chairman of the Du Pont Co. and chairman of the Business Roundtable, said Burns will be msssed 'But given the president's decision not (o reappoint Mr. Burns ... we applaud the selection of Bill Miller. He has been an outstanding business leader and has the confidence of the business community." AFIx-CIO President G«orge Meany said Carter "has made a sound decision. Mr. Miller is capable and well qualified and should obviously have the confidence of the business community. 'In replacing Dr. Arthur Burns as chairman, the president is clearly moving away from the discredited policies that created the last recession and prevented a speedy recovery," Meany said. Technically, Carter is nominating Miller to a 14-year term as one of seven board members, replacing David Lilly, whose term expires Jan. 31. If Miller is confirmed by the Sen- a four-year term as chairman. Burns, who was present when Carter announced the appointment, said he has not decided whether to stay on the board. Carter "has chosen wisely and well" in selecting Miller, Burns said. Carter, in a session Wednesday night with network television correspondents, said he hopes Burns will remain a member. ate. Carter will appoint him to Carter said he named Miller cans in the chairman because "it was time for us to have some new leadership" and that his move was "certainly no reflection" on Burns, whom he called "so wise." Burns prided himself as an inflation fighter in leading the Federal Reserve in its money policies. The agency, independent of the president, can set the size of the nation's money supply, directly affecting Amen- (AP) — The American Meat IniUtute iwyg consumers will pay more for hnmburger nexl year but that spare ribs for backyard bar- bequen wlU cr*t less, fUchftfd E. tyng, president of (he industry-ffiipported anocl- «tlon, said Wednesday that hamburger prices may go up 10 to 15 percent because farmers And rancher* will be sending fewer grass-fed cattle to market. On the other hand, he Raid, lower corn price* are triggering more grain feeding of cattle which produce the choicer cuts of beef. Those will coal more, too, bit will not Increase proportionately as much as hamburger. According to government fig- urea, hamburger sold nationally In retail stores last month for an average of R5.8 cents a pounl, A 10 percent Increase would push prices to about W cents and a 15 percent hike to 96.4 cents H pound. In ID74, hamburger prices rose steadily to more than $1 a pound, averaging a record of almost $1.10 a pound In February 1975 before levelling off. The Institute said that around three billion pounds of hamburger or ground beef waa produced this year but added that this Is a "very rough" estimate. It seems no one Is sure how much hamburger Is odd annually. The government does not attempt to keep track of It all, because retailers often grind up slow-selling cuts of beef Into hamburger. A report by the National Science Foundation showed that in 1975 hamburger production muy have been as much as 7,6 billion pounds, a year when farmers and ranchers trimmed breeding cattle herds sharply. Even so, the institute's estimate means that enough hamburger probably was produced Uila yeur to make at least 12 billion quarter-pound hamburgers, or about 65.8 for each American. Lyng said total beef production In 1978 is expected to decline slightly to 24.7 billion pounds, on a carcass weight basis, from 25.3 billion this year. But pork output will rise to 14.9 billion pounds from 13.3 billion this year, the most since 1971, he said. Counting all red meat — beef, pork, veal, lamb and mutton — the supply is expected to edge higher to a record of 40.5 billion pounds from 39.8 billion in 1977, Lyng said. The Agriculture Department has forecast that retail beef prices over-all may go up 3 to 5 percent in 1978 and that pork may drop 3 to 4 percent. Lyng said that he did not believe the farm strike called by American Agriculture on Dec. 14 will have any effect on 1978 meal supplies. Winter whent Smoked Jowfs WASHINGTON (AP) - Winter wheat in the southern Great Plains has deteriorated somewhat lately because of dry weather and winds, according to the Agriculture Department. As of Dec. 25, the winter wheat crop across the country was generally rated "good" except for parts of the southern plains, the department said Wednesday in a weekly weather report. "High winds affected stands in Oklahoma, Texas and Colorado," the report said. "Very little snow cover was reported in the major growing areas." The crop in Kansas, the largest wheat producer, was "generally rated good, a decline from the good to excellent conditions in earlier weeks," the report said. ^ j ^^f~ ^^_ , ^^••Mfl^^V -^••••W^ ra GROUND BEEF >t.:i. , 68 HOT DOGS SMOKED TURKEY ST, . |» Armour Star Reg. or Beef Mdttin; 3 ktttf Painty Pack FRYERS 3 h pwtim Oscar Mayer HAM STEAKS. Ojwr Mayer JUBILEE HAM Oscar Mayer J2 n , SMOKIES can WE Will BE OPEN NEIrV YEARS A FROM EVERYBODY AT THESE PRICES 6000 THURS., FRL & SAT. DEC. 29-30-31 Banquet Frozen PIES WE B GIVE! WESSON OIL 69 wesson vegetobieo" Mince or Pumpkin •20 oz. Thornton Glazed DONUTS 14 oz. frozen pkg. Cooksback CHEESE IOAF MUSJIQR NEW YEARS Ploy the oil New Series «OF 11/19/77 3 20.00 5.00 2.00 1.00 trfil W «(t 2264)9 ll 18,174 |g 8,915 I. 2,510 |, 783 It 117 ll H to ODDS FOR 7 Ittrl riitit ODDS FOR M rim viirti Ib. cto. ANp BLAGKrEYED PEAS Sunshine Crackers HI-HO'S Oceanspray CRANBERRY JUICE WE GIVE BLACK- EYED #300 15 oz. cans Bush's Fresh PEAS WE GIVE THf PMBJWJEST STOW IN TOWN HOPE ^Wf% v%f*W wv*W FOOD SUMP SHOPPERS ™ mm ^ ^ !• UBI ^ OBI am Mggly Brown N 1 Serve OVEN ROl 12 et. plqs. J SEEDLESS RAISINS ^ I5 « MIXED NUTS. j«ms«it.. i2. z . M n 99« ROTEL TOMATOES * 6ama * i WK. cans USTERINE... 30<0ff »««• *l* 9 RIGHT GUARD.. £****' •»'*•" US 1 US *1 Crisp LETTUCE US #1 Texas Ruby Red *%4^ ™ 39 GRAPEFRUIT for CONVENIENT LOCATION * Double fi 6H Greon Stamps everu

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