The Daily Herald from Provo, Utah on April 9, 1975 · Page 25
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April 9, 1975

The Daily Herald from Provo, Utah · Page 25

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Provo, Utah
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Wednesday, April 9, 1975
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Page 25
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Wednesday. April 9, 1975. THE HERALD. Provo. Utah-Page 27 Azores Base Denied U.S. By Portugal LISBON (UPI) - Portugal's leftwing government has barred the United States from using an American base in the Azores Islands to supply Israel during any new Middle East war. But Prime Minister Vasco GoncaJ ves has promised to honor all of Portugal's past commitments to the North Atlantic Treaty Organization. GoncaJ ves told a news conference Tuesday he would prevent the United States from using its base on Terceira Island in the Company Charged With Bribe WASHINGTON (UPI) - The Securities Exchange Commission today charged United Brands Co. of New York conducted a $2.5 million deal with high government officials of Honduras in exchange for favorable treatment on banana exports. United Brands, one of the nation's largest importers of fruits, has made about half the agreed payments since August, 1974, the SEC alleged in a suit filed in the U.S. District Court. The SEC, a government agency that regulates the stock market and publicly owned corporations, charged United Brands with securities fraud for failing to disclose the $2.5 million agreement to stockholders. The SEC alleged that United Brands deposited $1.25 million in Swiss bank accounts of several government officials of Honduras in September, 1974 and agreed to make an additional $1.25 million payment this spring. The SEC alleged United Brands made agreements for the payments last August in exchange for favorable tax treatment on banana exports. United Brands said the payment was authorized by Eli M. Black, who committed suicide by leaping from the company's skyscraper offices in New York Feb. 3. Following admission of the bribe payment, the New York Stock Exchange today suspended trading in shares of United Brands, a banana and food producer and successor to United Fruit Co. Prosecutors Produce 2nd Bundle By WESLEY G.PIPPERT WASHINGTON (UPI) Prosecutors today produced a second bundle of bills totaling $10,000 which they said was used in 1973 by former Treasury Secretary John B. Connally to conceal a bribe he allegedly took two years earlier. FBI agent Philip A. Greb broke the seal on a canvas bag and produced three envelopes containing $10,000 in $100, $50 and $20 bills. He identified them as the bills he removed on Nov. 27, 1973, from a safety deposit box used by star prosecution witness JakeJacobsen. Connally is. on trial for allegedly receiving bribes totaling $10,000 in 1971 for his help in securing an increase in the government price support for dairy fanners. Jacobsen, a former lawyer for the Associated Milk Producers Inc., has testified that he gave the money to Connally in 1971. Two years later when they feared the bribe would be discovered, he said that he and, Connally arranged to replace the money by putting $10,000 into a safety deposit box. He said their first attempt to replace the money was scuttled when Connally discovered the bundle contained bills that could not have been in circulation in 1971. The money exhibited today was said to be a second batch of bills that Jacobsen received from Connally wrapped in a newspaper on Nov. 25, 1973, in Austin, Tex. FBI agent Edward Leary tesified he conducted an inventory of the first bundle found it contained 49 bills bearing the signature of George P. Shultz, who became Treasury secretary in June, 1972, succeeding Connally. Connally's lawyer has pictured Jacobsen as a man who "pressed deep gratitude to the former treasury secretary —but made accusations about him as his own UvuUrt mounted. Azores to airlift supplies to Israel in any new war. "We will not allow our bases to be utilized against the Arabs," he said. Goncalves said, however, the Portuguese government intends to adhere to its treaty with NATO and plans to let the United States keep using the Azores base. The United States used its base in the Azores, a chain of Atlantic Ocean islands 1,200 miles west of the Portuguese mainland, to refuel planes carrying supplies to Israel during the 1973 Middle East War. The Arab oil states responded to the massive American supply airlift by cutting petroleum shipments to Portugal after the conflict. Reports from Washington said the U.S. Air Force has worked out in-flight refueling techniques since then to avoid the need for stops in the Azores. Goncalves also warned Portugal's citizens to brace for possible economic boycotts because of the military regime's moves to bring socialism to the nation. "This may happen and we must prepare ourselves for it," he said. Goncalves said no country has threatened a trade boycott yet, but multinational companies have been pulling out of Portugal since the government reported putting down a rightwing coup last month. He said the military's plans to bring socialism to Portugal •would require sacrifices and an emergency economic plan would be announced within the next three weeks. Goncalves, the strongman in the Communist-leaning government instituted after last month's alleged coup attempt, spoke in a packed auditorium guarded by battle-clad troops. The armed forces came to power last spring in a military coup that ended a half-century of rightwing dictatorship in Portugal. The military government has been moving to the left since then. A DRAMATIC RESCUE of truck driver John May, 34, of Petaluma, Calif., took place when his double truck-trailer skidded on a Highway 101 overpass at Richardson Bay near Larkspur, Calif., wiped out a stretch of railing and dumped the front units into the water. The rear unit, left photo, is shown hanging on the railing of the overpass as the front units toppled into the bay. May, right photo, is shown clutching to what is believed to be a portion of foam from his cab as rescuers, Lt. Roger A. Nelson, left, and Michael Benicr, shirtless, of Larkspur Fire Department move in. Simon Expects Oil To Go Down, Dollar Up PARIS (UPI) - Treasury Secretary William E. Simon said today he expects oil prices to go down and the American dollar to go up. Oil prices should "go down as the leading oil consuming countries develop their huge untapped energy resources and 'continue applying energy-saving measures," Simon told reporters in Paris where he signed a $25 billion "safety net" arrangement to bail out industrialized nations if they run short of cash in paying high oil prices. Huge American resources included the Alaskan oilfields soon to go into production, coal deposits and shoal sands, he said. Simon said he was "not fully satisfied" with the results of energy saving in the United States and further efforts would be made to reduce wastage. He said the dollar will gather fresh strength as the U.S. recession begins to bottom out and inflation eases. "The dollar is improving on money markets," Simon told reporters at the 24-nation Organization for Economic Cooperation and Development. Simon signed for the United States a $25 billion "safety net" fund to protect the 14-member countries of OECD if they run short of cash because of high oil prices. "The economy is going to start growing again in the last quarter and keep gaining strength as it goes into 1976," Simon said. "Inflation is coming down, helping the dollar to gain further strength. Most expectations are —both government and private forecasts —that we will bring the inflation rate down to about 5 per cent annually." According to OECD statistics, while the U.S. inflation rate was about 11 per cent last year, it has been falling in the past five months. Simon said unemployment may go up from its present 8.7 per cent rate or about 8.5 million jobless to about 9 per cent before the economy picks up momentum. "We see definite touches of blue in a gray sky," he said. Goes to Korea CHUN CHON, Korea - Army Second Lt. Stuart D. Lyon, son of Mr. and Mrs. David R. Lyon, 1700 N. Oak Lane, Provo, is assigned as team leader in the 4th U.S. Army Missile Command here. Do You HEAR But Not UNDERSTAND? STANDARD OPTICAL WILL: • TEST Your Ninrlng — No coil or obligation. • Recommend a hearing old If you nted help. • OHer a Trial Rental Plan — Be lure before you decide! Makes 20 different hearing aid models — for a broad range of HEARING IMPAIRMENTS. Hearing Aid Counselor MR.BILLMATHIE Central Utah Area Manager — Will be in the Provo Standard Optical Store Friday, from 10:00 A.M. to 1:00 P.M.I If you have a hearing problem, Mr. Mathie Invitet you to come and lake advantage of our FREE ELECTRONIC HEARING TEST Standard Optical or jive us i oil ind Mr. Mith'w will come to you. 161W. CENTER-PHONE 373-2254 WASHINGTON (UPI) - The Pentagon anticipated the Portuguese government would forbid the U.S. Air Force to use the Azores as a refueling stop for any future airlift to Israel and has set in motion plans to fly past the islands. The C5 Galaxy cargo plane was built for in-flight refueling that would allow it to fly from the east coast of the United States to Israel without recourse to ground bases. None of the crews, however, were originally trained to link up with tankers because the need was not anticipated. In the past year the Air Force has been rushing its C5 crews through such training. Two weeks ago the Air Force flew a load of military goods from the West Coast to Saigon nonstop to show it could be done. The second C5 of the Saigon airlift crashed last week with a load of orphans. It had landed for refueling on its way to Saigon. It was the first fatal crash of a C5 and leaves the Air Force with 77 of the planes, the largest aircraft in the world. In the 1973 Mideast War, Portugal was the only European country to permit the United States to land for refueling. Crackdown Proposed WASHINGTON (UPU) -The Federal Trade Commission today proposed a crackdown on the $75 billion a year consumer finance industry. The action was designed to provide borrowers protection from such things as wage attachments and blanket repossession of household goods, the FTC said. The rule is aimed at provisions commonly found in contracts used for automobile loans and for other consumer credit transactions carried on by financial institutions other than banks. J. Thomas Rosen, head of the FTC's Bureau of Consumer Protection, called the proposed rules by far the most ambitious effort of the FTC to deal with unfair credit practice. Rosch told a news conference that a survey shows most people who default on loans are not deadbeats, but are ill, jobless or simply overextended. He said borrowers are simply not equipped to deal with many provisions currently used in contracts. JCPenney Introductory sale. 25% off JCPenney Glass Belted Radial tires, JCPenney Glass Belted Radial. Features 2 polyester cord radial plies, 2 fiber glass belts. In the wide 78 series profile. Whitewalls. No trade-in required. Tire size BR78-13 ER78-14 FR78-14 GR78-14 GR78-15 HR78-15 LR78-15 Save 9.75 12.00 12.50 13.25 13.75 14.25 16.00 Reg. 39.00 48.00 50.00 53.00 55.00 57.00 64.00 Sale 29.25 36.00 37.50 39.75 41.25 42.75 48.00 + fed. tax 2.07 2.51 2.68 2.88 2.95 3.17 3.48 Regular retail prices effective April 13, 1975. Auto air conditioner check up. 5.88 Here's what we do: • Test compressor output with gauges • Test complete system for leaks • Tighten all belts and hose connections • Clean condenser and radiator exterior • Add Freon as necessary Replacement parts and service ^available at extra cost. Wheel alignment * Here's what you get: t Suspension inspection t Set caster and camber • Adjust toe-in • Road test •Most U.S. and many foreign cars. Add S2 each lor cars equipped with either air conditioning or torsion bars. Low, low prices on Reliant Belted tires. Reliant Belted tire. 2 ply polyester cord body; 2 fiber glass belts; wide 78 series profile. No trade-in required. Whitewall tubeless. Tire size A78-13 F78-14 G78-14 G78-15 H78-15 L78-15 Price 19.88 23.88 25.88 25.88 27.88 29.88 + fed. tax 1.80 2.50 2.67 2.74 2.97 3.19 Qrem University Mall Sale price* effective through ^^ IJ "'" " Monday, April 14. Use your JCPenney Charge Card or our Time Payment Plan. Auto Center Hour?: Mon. thru Fri. 8 a.m. to 9 p.m, Saturday 9 a.,, to 6 p.m.

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