Northwest Arkansas Times from Fayetteville, Arkansas on April 28, 1974 · Page 30
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April 28, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 30

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Fayetteville, Arkansas
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Sunday, April 28, 1974
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· NorthwMt Arfcantos TIMES, Sun., April 28, 1974 F*VITT«VILL«. ARKANSAS ^ Weather Forecast A cold rain is expected for today over the northern tier of. states with showers ex- pected for the midsecllun of Ing treiul will coLilimie in the the country -- including Southeast and (lie Far West. Northwest Arkansas. A warm- (AP Wirepholu) No Dividends This Quarter Says Con Ed NEW YORK (AP) -- The financial side effects of t.he nation's energy problems hit some 300,000 Americans from a new direction this past week. v The news caught even the financial experts by surprise; ; Consolidated' Edison of New- York, one of the nation's largest electric utilities, said it ·wouldn't pay a dividend in the current quarter after 89 years of uninterrupted payouts. Con Ed gave three interrelated reasons for its decision: Soaring fuel prices, reduced revenues because of energy conservation measures, anc trouble collecting payment from customers on their rising electric bills. The decision had a chilling impact throughout the financial community. Utility stocks, by long-standing tradition, have Dickey Morton To Be Youth Coordinator For Bob Riley LITTLE ROCK (AP) - Dickey Morton, a former University of Arkansas football star, joined Lt. Gov. Bob C. Riley's campaign for the Democratic nomination for governor Saturday. Riley called a Saturday morning news conference at his Little Rock campaign headquarters to announce that Morton, 22, would serve as youth coordinator. Morton said he had decided Hunt Files Suit Against Mobil Oil DALLAS (AP) -- Nelson Bunker Hunt, member of the fabulously rich H. L. Hunt family, has slapped a $13 billion suit on Mobil Oil Corp., and his lawyers say other court action may follow. Hunt, in papers filed in Alex andria, Va., just outside Washington, claims the money is due him because of what he calls breach of contract and anti-trust violations. Essentially, the suit claims that Mobil and other companies .failed to live up to the agreement made when they banded together to present a united front to Mideast oil nations. Twelve other companies are -named in the petition as eo-cpn- spirators but they are not being sued. The agreement by the oil companies. Hunt's petition says, was that if one was nationalized or lost its share of the oil, the other comparries would chip in to make up the difference. Hunt says this was not done when Libya nation alized his oil holdings. The oilman is seeking to force Mobil to deliver sevcra million barrels of oil Hunt say.' is owed him under the 1971 agreement. In addition to the oil from Mobil, Hunt is seeking 118 m i l lion barrels from Mobile and 12 ·other companies. "They all agreed they nwer' oil to Hunt. They just renege; on it," Hunt attorney, Philip Hirschlop. said. Hunt claims he lost 50 per cent interest in I I billion bar rels of oil in Libya's Sarir Fide when his holdings were nation alized in a move completed in 1973. Hirschkop said only Exxon continues to supply Hunt with oi payments under the agreement The other companies named in the suit arc Texaco Inc Standard Oil of California- Shell Petroleum Ltd. and Shell Petroleum Maatschappij; Gull Oil Corp.; Occidental Pelro leum; Contintal Oil Corp.- Amerada Floss Corp.; Marathon Oil Co.; Atlantic Richfield; W. R. Grace Co; Murphy Oil Corp.; and Gelsenberg, A G. a German oil corporation, :o make Arkansas bis home and that he was impressed with .he program for a progressive state as advanced by Riley. "I ;hink Riley is the man to do '!," Morton said. Morton, recruited from Texas or the Razorbacks, said he had signed with the Pittsburgh Jteeiers. He said he imagined le would spend six months of :he year with the professional ootball team and the other six ·nonths in Arkansas. He did not snow where he would live in Arkansas. This is Morton's first attempt at politics except for some campus activity, which, he said, was restricted because of "ootball. FUTURE PLAN'S Asked if he would join Riley's idministration if Riley became jovernor, Morton said he did not think he would. Riley, asked if he would offer ilorton a job, said anyone vould be happy to have a man of Morton's calibre in his ad- ninistration. Riley said Morton had volun- eered to join the campaign and idded, "It was his choice, and le has agreed to help us." Discussing bis chance of winning the governor's race, Riley said polls indicate that most Arkansans are still undecided about t h e i r choice for governor. "And, I find that very encouraging," the lieutenant governor said. He said he thought personalities eventually would decide who was to be governor, but he said it would be up to the individual candidates to point to their own records. He plans to continue his positive approach to the campaign, he said, Riley plans to open his cam paign formally next Sunday a f his Little Rock campaign head quarters across from the Uni versity of Arkansas Medica! Center. Riley, who underwent open heart surgery April 8 at the medical center, nas returned to work. Also seeking, the Democrat! gubernatorial n o m i n a t i o n are former Gov. Orval K. Faubus of Huntsville and David H Pryor of Little Rock. Heavy Drinkers SOUTHAMPTON, Rcrmml,, (AP) -- When the Southampton Princess Hotel observed it first anniversary of opcratio recently, a check of the year's records produced some interesting statistics. It wasn't surprising to learn that the Bermuda resort's 33,000 gousls consumed 250,000 meals, including 12 tons of rih of beet, but their thirst was ·omethlng else. During the Mrme period, the guests q u a f f e d 20,1)00 hollies of wine. jeen a safe refuge for con servative investors because of .lie assumed reliability of theii dividends. The small investor, wary ol :nore volatile stocks, still coulc .urn to them for income. 01 Con Ed's approximately 308,000 shareholders, the company says more than 90 per cent are indi viduals. The dividend suspension, an- lounced Tuesday morning, sent he price of the company's stock plunging from $18 to $12.25 that day. As of Friday's close, it stood at $12.37. Wall Street analysts said the psychological impact of the news contributed to declines in he stock market generally, particularly in the shares of other utilities. Sally Mencken, a New York widow in her 60s. says she built 'a nice nest egg" in stock over the years, and owns a Jood-sized chunk of Con Ed shares. "I live on that dividend." she ays. "When I bought Con Ed at $34 a while back. I thought I was being smart and making a _;ood investment. Now it's down »o S12 and I feel-pretty upset." The average holder of Con Ed's C1.5 million common shares owns about 200 of them. C v e r the past several years, hat has been good for a $90 dividend check every three lonths. For a number of years, including last year, those divi- iends have been considered to be a "return of capital," and hercfore not taxable--a fact vhich clearly added to their ap- eal. That comfortable return now las given way to an uncomfort- ble series of questions. Does his mean other utilities' dividends are in jeopardy? And vhat about the future for in- estors riding out the current storm in Con Ed's slock? Wally French, a recognized expert on the industry who runs be utilityscope program at Wall Street's Argus Research krp., says that before the Con Ed action he saw no reason to expect a dividend cut by any of the other 49 largest electric utilities in the country. Now that the ice has been broken, he says, some negative dividend action by some other major power company "is a possibility--but we're pre dieting it won't happen. Nobqdj else faces the same situation that Con Ed does." Groundbreaking P I N E BLUFF, A r k . ( A P I -Groundbreaking ceremonies fo the now Pine B l u f f office of the Arkansas Employment Security Division wiii be at 10 a.m" Tuesday. The cermonies will he at 10th and Tennessee streets. All aroa services of the KSD will he in the building, which is expected to he completed in one year, ft will contain 16.500 square feet. 38 acres farm, nice country house 2 chicken houses. $37,500. 10 acres farm 1 new brick house 1 older house, barns, buildings etc. S5n,000. 3 BR house, residential zone, close to schools and jitorca, S23.000. 1'.2 story older frame house, close to University. $23,000. BIG RED Real Estate Broker. 521-4422 Sundays 443-4174 CROSSOVER ROAD Older Iwo bedroom, redecorated kitchen and bath, fenced backyard with large garden spot. This home is ready for immediate occupancy. Priced al Only $15,900. TRUMBO CO 521-6800 REALTOR Rollins Him Dr. TREMENDOUS VALUES The most automobile for the money is a 1972 or '73 Cadillac. A tremendous saving when you buy a two year old Cadillac with low mileage for less than $5000. Sei HATFiELD PONTIAC-CADILLAC For These Cars Today 220 N. College Phone 442-2308 MAPLE MANOR APARTMENTS Fayetteville's Finest Now Leasing, One, Two, Three, or Four Bedroomi Furnished or Unfurnished Summer Rales Effective June 1st Small Deposit Reserves Your Choice 3001 Wedington Phone 521-7206 At UA Graduation Honorary Degrees To Co To Two A Liltlt; Hock businessman iinct philanthropist, and an Ark- msiis u n l i v e who lilts won ronowii as an outstanding sm 1 - KCOII and medical researcher will receive honorary degrees roni the University of Arkansas at the 100th animal spring commencement May 18. To be honored are Raymond Rcbsnmon of Little Rock and Dr. Samuel L. Kountz ot New York Cily. The ceremony will be held at 5:30 p.m. in Rnzovbnek Stadium. An estimated 2,500 students will receive degrees at :hc exercises from Dr. Charles Dxford, interim president, and Fred Pickens ot Newport, ohairmnn of the Board of Trustees. Rebsamen attended the University dnt'ing World War I and is a life member of the Alumni Association, In I960, he was awarded the Association's Dis- :inguishcd Alumnus Citation. He is a former member of the University's Board of Trustees and las provided extensive financial support to the institution. His most important contribution to education probably was the 80 acres of land upon which the University of Arkansas at LitUe Rock is located, which was donated by Rebsamen whr-n the former Little Rock Junior College was established. As recently as 1970. the Rebsamen Fund, of which he is president, contributed $100.000 to the University's College of Business Administration to cmtnw an almnsl unique Investment program to allow students to obtain practical experience in handling investments. Rebsamen lias had other wide-ranging philanthropic interests, and has been a leader in many civic enterprises. As president of t h e Pulaski County Committpe of 100, he was instrumental in raising more t h a n $1.000.000 for purchasing the land upon which the Little Rock Air Force Base was constructed. He was the founder, and for 10 years chairman, of Urban Progress. Inc., which took the lead in fostering urban renewal and public housing projects in the Little Rock area. Rebsamen began his business cai'ccr os a public accountant and is now c h a i r m a n of the Board of Rebsamen International. Inc.. which includes the subsidarics of Rebsamen Associates. Inc.: International G r a p h i c s . Inc.; Rebsamen Ford. Inc.; and the M a n h a t t a n Companies. He is a director of the Arkansas Louisiana Gns Company and Dillard Department Stores, Inc. He is a former chairman of the Board of the Federal Reserve Bank of St. Louis. Dr. Konntz. a native of Lexa. is currently professor and head of the Dpt)arlme"t of Snreery of the Down State Medical Center in Brooklyn, N.Y. A leading authority on renal transplants, hi" has transplanted more than 600 kidneys, with a survival nilo ot five or more years of 73 per cent for those using cadaver donors, mid 911 per cent for (hose ushiti sibling donors, lie also is performing imEioiiant research on the mechanisms that produce tolerance to transplanted organs. Dr. Koitnlz received his bachelor's degree from Arkansas AMN College (now the Uni vci'sity of Arkansas at Pine B l u f f ) in 1952. and canted a master of science in chemistry from the UA in 1056. He took his M,D. degree f r o m the UA School of /Medicine in 1958. After residency t r a i n i n g at Stanford University, be joined the faculty there, where he remained u n t i l 1972. Dr. Kount/ is president-elect of the Societv of University Surgeons, tl^e first black ever to be so honored. He has won numerous honors for his work, including being named "Miin of the Year" by the Kidney Foundation of Northern California in 190. He received an honorary Doctor of Humane Letters degree from the University of San Francisco in 1970. Hn has brnn an active leader in several professional and scientific societies, has published 7fi articles and serves on the Editorial Boards of the publications. "Surgery" nnd "Kidney". During the Centennial observance. Dr. Kountz was one of the speakers in the campus leo- iiiro series ""tilWt "B 1 :i"ks m Business, Education and the Professions". REBSMAN DR. KOUNTZ Polling Places For c Primary Told Ann Henry, chairman of the Washington County Democratic C e n t r a l Committee, today announced polling places for the May 28 Democratic preferential primary election. In Fayetteville, voters in Precinct 1 will ballot at the fire station at Center and Locust; Precinct 2, Barnhill Fielclhouse lobby; Precinct 3, Asbell School gym; Precinct 4, Trinity Meth- Ddist Church; Precinct 5, Washington School; Precinct 6, Trinity Temple; Precinct 7, Root School; Precinct 8 St, Joseph's (old church); Precinct 9, Jefferson School; Precinct 10, :he National. Guard Armory on rlwy. 71 south. The precincts in both Springdale and Fayetteville are those set up by the Washington bounty Election Commission. The original number of precincts--formerly referred to as wards--were subdivided to make voting more convenient and eliminate long lines at voting machines. SPRINGDALE In Springdale. voters in Precinct 1 will ballot at the City Administration Building; Precinct 2, the main fire station; ^recinct 3 and 4, Robinson Street Church of Christ; Precinct 5, the Youth Center; Precinct 6, Wesley Methodist Church; and Precinct 7, Harp's IGA. Democratic voters in other parts of Washington County will vote at their traditional polling places. Members of the Democratic Central Committee voted to have judges and clerks, books and voting machines separate from the Republican voters. The Republicans have consolidated precincts in Fayetteville and Springdale and townships in other parts of the county, and will have fewer voting places. The Democrats will have a total of 51 polling places. Mrs. Henry has expressed her thanks to church officials, school officials and businessmen who have opened their doors to the committee as a public service. 10 Arts Chairs Hendrix' Goal CONWAY, Ark. (AP) -- Dr. Roy B. Shilling Jr., president of Hendrix College, said Saturday one of the school's immediate objectives was · the establishment of 10 distinguished chairs for the- teaching of liberal arts. He made his remarks at the school's annual alumni day. Named distinguished alumni were Dr, Harry Meyer of Wa- tcrford, Va., Winston Faulkner of Little Rock and Dr. Harry Lane of Conway. Shilling said creation of the chairs would require an increase in the endowment of $10 million. Another $10 million is needed for support of the colleges instructional programs, he said. "We are well on our way to taking our place among the liberal arts colleges of national prominence," he said. "Once Hendrix's endowment rises to $25 million to $30 million it will be listed among the select independent colleges of the nation." He said the college would announce m the next few weeks a major grant to he used for teacher development and faculty renewal. Schedule Upset ELKHART. Ind. (AP) - Kindergarten teacher Mrs. Janice Koran received school board approval for maternity leave beginning Dec. 21. Then the doctor changed .his mind and Mrs. Horan got the board to approve leave beginning J a n . 25. Then identical twins Jennifer and Colleen changed their minds and emergency hoard approval was given for maternity leave effective Dec. 29, the day the two.girls arrived. Third Annual Science Camp Set For UA This Summer The University of Arkansas | of $1GO by May 30. This fee Department of Physics will hold its third annual Science Camp July 15-Aug, 9 on the Fayelte- vilte campus. Dr. Richard J. Anderson, associate professor of physics and camp director, said the camp is designed to provide 20 high-ability students from high schools in the state with inadequate science facilities a unique learning opportunity. During the four weeks, the students be introduced to the areas of astronomy, computer mathematics, and electronics. University staff and graduate counselors will work closely with each of the participants to tailor the subject matter to individual needs. Special emphasis will be placed on laboratory experience, Dr. Anderson said. "The students will be encouraged to construct simple apparatus, such as telescopes with science kits. These will become the property of the students for subsequent use in their own high school science classes." When the students return to their high schools next fall, they will be encouraged to carry out another independent student problem during the 1974-75 school year. In addition to the classroom and laboratory work, activities such as swimming, tennis, picnics, Softball, and field trips to points of interest are planned. Counselors will be available on a- seven-day basis. To be eligible, students must be attending schools that offer limited opportunities in the study of physical science. "While applications will be accepted from any high school in Arkansas, preference will be given to students from high schools located in the smaller towns," Dr. Anderson said. A student must he in at least the upper 20 per cent of his class. Each student selected to participate in the program will be aske dto pay a program fee will partially cover the cost of room and board in University housing, scientific materials, and other expenses associated with the project. Financial aid is available through numerous scholarships provided by the Agrico Chemical Company of Blytheville, the Weyerhaeusei 1 Company of Hot Springs, and the Lion Oil Company of El Dorado. "No qualified student will be refused admission to the program because of an inability to nay the fee." Dr. Anderson said. Application forms may be obtained by writing to Dr. Anderson. Director of the Slud n nt Science Training Prsflram, Department of Physics. University of Arkansas, Fayetteville, 72701. Hirohito's Sayings TOKYO (AP) -- The next hook of quotations to come out of Asia won't be a revised edition of Chairman Mao Tse- tung's. but a collection by Japan's Emperor Tlirohito. The book, with its publication timed to coincide with the emperor's 73rd birthday, April 20, contains attributed remarks made since Hirohito's accession 48 years ago. Among them is his famous statement Douglas MacArthur to Gen. shortly after World War II. "I am ready to accept a sentence of death by hanging," the emperor, soon to he reduced to mere ceremonial head of slate, told the conquering American officer. Kodansha, the book's publisher, said "Quotations of the Emperor" was compiled by a "young unknown man in his 20s" who asks to remain anonymous, H O L Y C O W W H A T A S A L E at WHITFIELD MOTOR CO. There are sales and there are sales, but when WHITFIELD has their annual Holy Cow Sale, it is a SUPER SALE! Unbelievable prices on new 73 and 74 Oldsmobiles and CMC trucks. Here are a few examples: 1974 CUTLASS T COLONADE HARDTOP COUPE 1974 OLDSMOBILE CUTLASS SUPREME Deluxe seat belts, tinted glass, body side moldings, vinyl top, re- mole control outside mirror, firm ride shock absorbers, 350 V8 engine, super stock III who's, AM radio, rear seat speakers, engine cooling equipment, swivel bucket seats, front floor mats, door edge- guards, aii' conditioning, sports console, pov/er front disc brakes, turbo hydramatic transmission, power steering, whilev/all tires and conventional group. Manufacturer's Suggested Retaail Price $4,856.70 WHITFIELD'S HOLY COW SALE PRICE $4,230.00 1974 NINETY EIGHT REGENCY SEDAN 60-40 divided seat with 6-way power adjuster on both sides, pov/er door locks, power trunk release, front and rear floormats, door edge guards, Tempmatic Air Conditioner, cruise control, deluxe wheel discs, power antennae, tinted glass, body side, moldings, vinyl lop, tiff V telescoping steering wheel, pov/er windov/s, power steering, pov/er front disc brakes, turbohydramalic transmission, AM/FM stereophonic radio and convenience group. Manufacturer's Suggested Retail Price $7,121.80 WHITFIELD'S HOLY COW SALE PRICE $6,000.00 1974 GMC 3 A TON PICKUP Roof drip moldings, body side molding, below eyellne mirrors, v/ideside box, heavy duly front stabilizer, heavy duly rear spring, 350 V8 engine, turbohydramatic transmission, power ileeringi, 7.50x16 tiros, full foam seat and gauges. Manufacfurer't suggejlod retail price $4318.18. WHITFIELD'S HOLY COW PRICE COLONADE HARDTOP COUPE Deluxe seat bells, bucket seals, door edge guards, air conditioning, sports console, 350 V8 engine, super slock 111 wheels, rear radio speaker, AM radio, tinled glass, body side moldings, vinyl top, sport slyled mirrors, power steering, power front disc brakes, turbo- hydramalic transmission and whitewall tires. Manufacturer's «ug. gested retail price $4939.10. WHITFIELD'S HOLY COW PRICE $4285.00 1974 OLDSMOBILE TORONADO CUSTOM COUPE 60-40 divided seat v/ilh 6-way power on both sides, power door locks, power windows, body side moldings, opera roof, visor-vanily mirror, cruise control, v/hilewall tires, AM/FM slereo radio, Brougham interior trim, tinted glass, power trur.k release, door edge guards, tempmalic air conditioner, tilt and telescoping steering wheel, cornering lamps, power anlonna and convenience group. Manufacturer's suggested retail price $7770.30. WHITFIELD'S HOLY COW PRICE $6500.00 1974 OMEGA COUPE $3695.00 250 C.I. 6-cylinder engine, turbohydramatic transmission, chroma whoel discs, bumper rub strips, tinted gloss, body »ido moldings, power sleoring, whitowall tires and AM radio. Manufacturer^ suggested retail price $3600.70. $3350.00 WHITFIELD MOTOR CO. 14-16 North East Ave. Phone 442-8294

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