Freeport Journal-Standard from Freeport, Illinois on July 17, 1975 · Page 1
Get access to this page with a Free Trial

Freeport Journal-Standard from Freeport, Illinois · Page 1

Freeport, Illinois
Issue Date:
Thursday, July 17, 1975
Page 1
Start Free Trial

Weather Outlook Chance Of "Thunderstorms (Details on page 12) 128th Year, 24 pages FREEPORT JOURNAL-STANDARD tlUtOMt Of DOVlARf GROSS NATIONAL PRODUCT i i Svoionolly Adjusted Annual Rates a » 4 1 a • 4 QUARTERS 1*74 Freeport, Illinois, thursday, July 17, 1975 A • It Hl^^l_l±Lr . 15 Cents Ho, Soyuz Dock; Handshake Is Next WASHINGTON (UPI) - The output of the nation's economy declined at an annual rate of only 0.3 per cent during the second quarter of 1975, the Commerce Department said today in one of the most encouraging signs yet that the country is coming out of the recession. The department also said the rate of inflation was at its lowest level in 2V, years. s • ' ;" The second quarter figures on output, as measured by the Gross National Product, showed vast improvement between April and June when compared with the January-March quarter. The 0.3 per cent slip in the GNP was the smallest quarterly decline since the recession began in early 1974. The modest decline also comes on the heels of a huge 11.4 per cent drop in the first quarter, the worst three- month performance by the U.S. economy in three decades. At the same time, prices rose at a 5.1 per cent annual rate in the April-June .quarter, an impressive improvement over inflation rates of 8.4 per cent and 14.4 per cent in the previous two quarters, the department said. The department said the latest GNP stood at $1,433.4 billion ($1.4 trillion). The GNP measures the value of virtually all goods and services produced during a given period and is the broadest measure of the economy's health. , The latest figures indicate the economy's growth rate, when adjusted for effects of inflation, was close to "zero growth" in the second quarter and that the expansionary phase of the business cycle may already have begun. Economists will rule that the recession has ended when positive growth in "real," or non-inflated, GNP occurs. The recession began in November 1973. UVot S i nce the first quarter of 1971 has there been such a marked improvement in the GNP figures. It is not unusual, however, for the economy to soar by leaps and bounds in the first stages of a recovery and then taper off in the following quarters. GNP is the broadest measure of the. economy's health. It measures the value of virtually all goods and services produced during a given period. Other, less comprehensive, indices already have given signs of recovery. The so-called "leading indicators," which historically turn up shortly before the end of a recession, now have risen three months in a row, reversing a two-year decline. The Federal Reserve Board's index of industrial production, which had fallen each month since September, rose moderately in June. And the Commerce Department reported Wednesday that personal income, a good gauge of the spending power available to American consumers, jumped by a record $2.5 billion, or $30.6 billion at a seasonally adjusted annual rate, in June. A one-time $50 payment to Social Security, railroad retirement and some welfare recipients accounted for two- thirds of last month's income surge. News Roundup Plans Being Made To Sell U.S. Wheat WASHINGTON (UPI) - Two U.S. grain companies have made arrangements to sell 3.2 million tons of American wheat to the Soviet Union, the Agriculture Department said today. But Agriculture Secretary Earl Butz said the shipment of more than 117 million .bushels will not have the same drastic effect on U.S. consumer prices as a contro- .versial and much larger 1972 deal. ;~ The Agriculture Department announced Wednesday that a company, later identified as Cook Industries, Inc., of Memphis, Tenn., had contracted to sell 2 million tons of hard winter wheat to the Soviets for delivery through August, 19766. ' . Cargill Inc., announced in Minneapolis Wednesday night that its European affili- • ate in Geneva, Tradax, had reached agreement to sell another 1.2 million tons to IRussia. A spokesman said U.S. wheat will be used to fill the order. Nixon Won't Be Called In CIA Inquiry WASHINGTON (UPI) - The Senate Intelligence Committee has decided not to call former President Richard M. Nixon as a witness in its investigation of alleged CIA assassination plots, a staff spokesman said today. But Nixon may later be called or asked to give a deposition in connection with other intelligence matters, the spokesman said. U.S. Opposes Israel's Expulsion From U.N. WASHINGTON (UPI) - Secretary of State Henry Kissinger has made it clear the United States will oppose strongly any effort by the U.N. General Assembly to expel Israel. Foreign ministers of 40 Arab nations meeting in Jidda have agreed to ask the U.N. General Assembly to expel Israel as it already has expelled South Africa. Solzhenitsyn Touches Off Dispute WASHINGTON (UPI) - Exiled Soviet writer Alexander Solzhenitsyn touched off a dispute within the U.S. government. Secretary of State Henry Kissinger says Solzhenitsyh's views expressed in Washington this week are a threat to peace, and Kissinger has recommended President Ford not meet with the dissident Russian. Sen. Henry Jackson, D-Wash., accuses Kissinger of siding with "the Soviet rulers against the American commitment to freedom." The clash between the two Henrys erupted Wednesday, a day after Solzhenitsyn told Congress America is "complacent in its affluence" and blind to denials of human rights by the Soviet government. Mobil Admits Making Political Gifts WASHINGTON (UPI) - Mobil Oil Corp., the nation's third largest oil company, paid $2 million in legitimate contributions to Italian political parties between 1970 and 1973, a Mobil executive told Congress today. Mobil also has acknowledged making political contributions in Canada. Mobil said donations by corporations are legal in Italy and Canada. Exxon confirmed Wednesday that it made contributions of at least $46 million .from 1963 to 1971. Egypt, Israelis Agree On General Principles TF.L AVIV (UPI) - Egypt and Israel have reached agreement on the general principles for a new interim peace accord, an Israeli government source said today In Tel Aviv. He said despite Egypt's threat to oust U.N. troops from the Sinai Desert, negotiations on an interim accord coijld succeed, "if things are played right." - "The general principles are agreed," the source said. "The principles on which the next agreement would be based are understood." HOUSTON (UPI) - Three American astronauts and two Russians docked in orbit today and a few minutes later Apollo commander Thomas Stafford reported an acrid burning smell in the docking module linking the two ships. Mission control ordered Stafford Vance Brand and Donald "Deke" Slayton to put on their oxygen masks. Stafford, veteran of three space flights, calmly replied that the masks were at their sides, ready for use if necssary. There was no indication the astro-; nauts were in danger. The two Russian cosmonauts, Alexei Leonov and Valeri Kubasov, waited quietly in the Soyuz spaceship, linked to .the docking module which is attached to the nose of the Apollo. Moscow center reported all was normal aboard the Soyuz. The Americans said the smell resembled burning glue or acetone. "I'm just standing by here to see if I feel any different, but I still feel pretty good," Slayton told concerned ground controllers fearing that there was a possibility that gases might overcome the pilots. "I still feel pretty good. I'm not used to sniffing glue." ' A few minutes later, Slayton reported he had entered the docking module and everything was still okay: "No health problems." The.docking itself went very smoothly arid Stafford exclaimed, "we have succeeded." "We are looking forward to shaking liands with you aboard Soyuz," Leonov said. The two ships, now 66 feet long, were, scheduled to stay hooked together for 44 hours with the spacemen sharing meals, work and telecasts to earth showing the historic space adventure by the world's two space powers. The Apollo, with Stafford at the controls, moved smoothly toward the So- ,yuz for the docking. The.special dock- 1njg;%)pdule attjtcjjed to the nose of ithe modified U.'?/.moonship cfaspWidenti- cal hookup apparatus on the Soyuz. "We have succeeded," exclaimed Stafford. He then activated devices that pulled the two ships tightly together for what space engineers called a "hard dock." Leonov monitored instruments aboard Soyuz during the operation and told Moscow control in Russian, "everything is normal." Leonov and Kubasov were in an orbit ranging from 137 to 139 miles high when the American pilots began the rendezvous maneuvers earlier in the day. Stafford and his crew used the classic catch-up procedures developed for moon landing missions. Every engine firing of the American ship went off with precision. And as" Stafford first met Soyuz over the Pacific Ocean and crossed over South America, he said, "We have it wired," meaning it was going as smoothly as possible. At docking, engineers in the Moscow control center stood up and applauded. There were big smiles on their faces. American controllers in Houston also cheered. The Apollo caught up with the Russian spacecraft as the two ships approached the coast of South America about 10:47 a.m. CDT. "You can see his antenna from ouf here, Dick," Stafford told ground communicator Richard Truly. AMERICAN COMMANDER THOMAS STAFFORD (right) shakes hands with Soviet commanded Alexei Leonov. during recent training exercise for Apollo-Sbyuz mission. The symbolic handshake in space was scheduled this afternoon about three hours after three American astronauts and two Soviet cosmonauts rendezvous and link up In space.-DPI Photo. School Board OKs Tentative Budget A tentative budget of $9,478,264.20 for the 1975-76 fiscal year, which began July 1, was approved by the Freeport' Board of Education Wednesday night. Revenue is projected at $9,371,626.54 resulting- in a: deficit of $106,637.66:; The tentative budget compares, with the 1974-75 budget of $9,001,262.42, the largest in the district's history. Theodore R. Carpenter, assistant superintendent for business affairs, in presenting the budget called it "very tentative" and said that "during the balance of the summer, you will see a continual refinement of figures, including what is added for salaries." Salaries in the budget were figured on the present base salary of $8,675 for a teacher with a bachelor's degree and no teaching experience. Contract negotiations between the board and Freeport Education Association are still in progress, with the next talks scheduled for Friday. Carpenter said the salary schedule in the budget reflects built-in longevity and training increments. Salaries account for 80 to 85 per cent of the educational fund, he said. A tentative budget must be adopted by the board and placed on file for public inspection at least 30 days, according to state law. A public hearing on the budget is set for 7:30 p.m. Sept. 17 in the district's administration building at 1205 S. Chicago Ave. Anticipated expenditures by fund in . the tentative budget, with last year's figures in parentheses, are: educational, $8,305,813.33 ($7,584,885.03)' building $235,125 ($508,460.07); bond and interest, '$435,643.37 ($451,704.56); transportation-, $256,682.50 ($243,067.50); and municipal retirement, $180,000 ($145,000). Revenue is estimated at $8,089,892.45 in the educational fund; $336,703.12 in the building fund; $455,176.83, bond and interest; $258,233.93, transportation; $166,620.21, municipal retirement; and • $65,000,. working cash. Carpenter said the budg$, : ,reflects. the 4.9 per. cent cut«iri'state aid an-' .,n t aunced,,J^.;.G0y» Jr Daniel Walker last week. Carpenter said he had not received actual information from the state office but was basing the cut on information furnished by the news media. He said a projected deficit of $13,379.79 in the municipal retirement fund was the result of rapidly increasing costs. The tax levy will be adjusted this year to include the changes, he said. Carpenter said new programs and departmental requests approved by the board earlier this year are reflected in the budget. After the meeting, he said he did not compare the tentative budget with last year's budget because it is "too tentative." The budget was approved on a 5-0 vote. Board members Glenn Hughes and the Rev. George Wright were absent. No questions were asked concerning the budget. Carpenter also presented a final account of last year's finances. He said $67,381.11 was not spent in the education fund. He reported that $115,768.23 in revenue was received over what was anticipated. Both amounts will be carried over to the new fiscal year. The board approved transferring the general deposit account of the district from the State Bank of Freeport to the First National Bank of Freeport. The payroll account will remain at the State Bank. The establishment of two accounts will provide a better record-keeping process, Carpenter said. JAPANESE CROWN PRINCE AKIHITO (left, foreground) and Princess Michiko (standing at Akihlto's left) move back from Hlmeurl Tower as molotov cocktails, thrown by radi- cals, explode (right) near the royal couple during ceremony at the war memorial in Naha, Okinawa, today. Akihito and his wife were not injured in the Incident.-DPI Photo. Timetable Of Events HOUSTON (UPI) - Timetable of major cvonts today and Friday for the . Apollo-Soyuz international spaceflight '(all"times G1>T- aitd"Riibje-trto~~ change): TV ••• TODAY, JULY 17 3:14 p.m. - Five-minute telecast from signed in Soyuz, followed by joint meal in Soviet spacecraft. 5 p.m. - Five-minute telecast from docking module followed by nine-minute telecast at 4:14 p.m. 4:31 p.m. - Stafford leaves Soyuz, preceded by SI ay ton. 6:20 p.m. - Astronauts begin cight- hoifr sleep period; cosmonauts begin 7% hour sleep period. FRIDAY, JULY 18 1:50 a.m. - Cosmonauts awaken. 2:20 a.m. - Astronauts awaken. 4:02 a.m. - Second crew transfer begins: Stafford moves to docking module followed by Brand. Brand then enters Soyuz. Leonov moves to docking module and enters the Apollo for first time at 5:56 a.m. followed by Stafford. Thus Stafford, Leonov and Slayton are in Apollo and Brand and Kubasov are in Soyuz. (TV). 6:40 a.m. - Joint flight certificates signed in the Apollo, and Leonov and the two Americans join halves of plaques brought up in each spacecraft. Similar ceremonies are carried out in the Soyuz between Brand and Kuba- sov. 7:53' a.m. - Television tour of Russia as seen from orbit with commentary in English from Kubasov. (TV). 9 a.m. - Leonov, Stafford and Slayton eat in Apollo followed at 9:20 with commentary by Leonov in Russian about American space food. Joint meal also occurs in the Soyuz with Brand commenting at 9:34 a.m. in English on Russian space food. (TV). 10 a.m. - Third crew transfer begins: Leonov and Stafford go to Soyuz and Brand and Kubasov join Slayton in the Apollo. (TV). 10:47 a.m. - Forty-three minute telecast begins of crew activities in docking module and Soyuz. 12:16 p.m. - Forty-one minute tele-' cast of joint activities. 12:30 p.m. - Stafford and Leonov, speaking their own languages, open joint, in-flight news conference with introductory statements. Conference ends at 1 p.m. (TV). 1:41 p.m. - Brand, speaking in Russian in the Apollo, conducts TV tour of " Florida and the U.S. east coast. 2 p.m. - Brand and Kubasov sign joint flight certificates and join medallion halves in the Apollo. Kubasov presents Russian pine tree seeds to Brand and Slayton. In the Soyuz, Stafford gives American pine tree'seeds to Leonov. (TV). 2:14 p.m. - fourth crew transfer begins: Slayton moves to Soyuz with experiment equipment and returns to docking module. Kubasov moves to Soyuz and Stafford returns to Apollo. Crewmen say farewell. (TV). 4:52 p.m. - Last crew transfer ends with Slayton returning to Apollo from docking module. 6:30 p.m. - Leonov and Kubasov begin 7-hour 10-minute sleep period in Soyuz. 7:20 p.m. - Stafford, Brand and Slayton begin 8-hour sleep period in Apollo.

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 11,200+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free