Northwest Arkansas Times from Fayetteville, Arkansas on May 12, 1974 · Page 8
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 8

Fayetteville, Arkansas
Issue Date:
Sunday, May 12, 1974
Page 8
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·A · NorthwMt ArkariMt TIMES, Sun., May 12, 1974 »VlTTiVILL«, A« With A Difficult Road Still Ahead Suez Canal Clearing Project Well Underway Sewtr Luncheon B I R M I N G H A M . K n R l a n d (AP) -- A construction comp n r i y is to tlirow a luncheon For 1QD ' d i g n i t a r i e s In a sewer, to celebrate cotnplclion of work on a new drainage system. The SfiOO eosl includes a temporary slairtasc so guests won't have to climb down ladders. ISMAILJA, Egypt (AP) -- A rishermin s«n"l' poled his boat among tht olive drab waters of tht Su«z Canal. seemingly oblivious to the repeated Ihuiik of exploding mines set off by Egyptian demolition teams within ear.ihol. Three small rockets, warheads and fins intact, were baking in the ric.wrt he/it next ;.to a irwtal retaining wall hold ing back the sand. British and Egyptian naval forcei began clearing Port Said harbor, at the northern end of the waterway, in early April. Tht American helicopter car ricr Iwo J i m a and n a v y clivers arrived late in A p r i l to bcftin sweeping the canal of mines. Closed for R'A years, the canal ; still blocked by wrecked ships, sunk by the Egyptians during ihc six-day war of 1367- A reopened canal would cut s h i p p i n g Lime from Bombay lo Lisbon by eight days by elitni- naling the round-Africa voyage, and would reactivate shipping facilities along Uie Red Sea and I n d i a n Ocean coastlines. A U.N. report released in April said the closed canal lias cost Ihc world more than Sift-billion higher shipping charges, trade Faubus Backs More State Funds For Cities, Counties NASHVILLE. Ark. (AP) -Former Gov. Orval E, Faubus said Saturday he thought it might be feasible to provide cities and counties with 10 per cent of the state's revenue. However, Fsubus, who is seeking the Democratic nomination for governor, said he had decided on no firm percentage. Faubus tpoke at a luncheon of the Southwest Arkansas District Poultry Festival Faubus arrived at the lunch- ·on late because of what he called the winding roads West Arkansas. "If I am elected your governor again, I will try to straighten out the roads in Southwest ArkinMS.'* Fcubus said. The Former six-term governor also discussed a super-road sys ;em for Arkansas. He said he agreed with one of his Demo era Lie opponents. David 1] Pryor of Little Rock, that central highway corridor wa need in South-Centra I Ar ansas. Faubus also said he thought iuper h i g h w a y system wa needed in West Arkansas Iron the northwest corner of · Ih state to Texarkana. He said super h i g h w a y aho was ncede northeast from Little Rock. Faubus saitl he was oppose to gun control legislation. He supported a continuatio erf the state prison reform pro gram. eductions ;md other losses. Rail service between Cairo, K.xplosivcs from two wars. Suez and Ismailia has been re- nme 80 sunken vessels ? j n d i s t o r e d , but it will lake $50-mil .her obstacles must he, learcd. Dredging must he done nd navigation aids replaced wforc the waterway again is ipcn to ships of OD.Oflfl Ions. To permit use by today's cavier supertankers would re- Hire both deepening and wid- n i n g of the canal at enormous ost, COSTS I N C R K A S K Official estimates of what it vill cost to revive the canal for vcn smaller vessels have risen rom S? billion In £9 billion. The money has not been raised yet. Millions of tons of imported concrete, thousands of tons of metal and lumber, electric gen crators, technical know-how md masses of equipment are still needed --- and so is the casli to pay [or them. Would-no investors are wail. g detailed plans, specif i c a lions and a list of priorities, a: well as guarantees to protect their investment in case of re i e w e d hostilities between Kgypt and Israel. The Sue/: Canal Authority which originally hoped to re open the waterway in time for the Oet. b anniversary of the "War of Liberation," as it i known here, now admits it wil t a k e at least 10 months to clear the canal of explosives and oth er obstacles, Dredgers, already slandin; by in Alexandria, Jsmailia an the Bitter Lakes, presumabh could follow behind the salvagi crews. Essential services -- water electricity and sewage--are re .stored in the major canal cilie of Port .Said, Sue?, and Ismailia on to rebuild the Ismailia-Port aid Hail Line, torn up for for- Tications. Kxpansivc Kgyplian plans to nakc hundreds of thousands of cres of the Sinai Desert iloom, to transform the marsh- imds around Port Said into a luty free port to rival Hong Long, and lo build t u n n e l s un- er tho canal will take five to iix years at least. FUNDS SOUGHT Egyptians. who accepted Russian aid in the Sfl's only after Washington declined to ielp build the Aswan High Datn, are hopeful the Americans will make a major f i n a n - cial commitment in addition to he "tens of millions" already promised to sweep the cana! of explosives. Western shipping accounted for 93 per cent of the 242 million tons of cargo which passed th rough the canal on 21,250 ships in 19fi6, its last full year of operation. The United Slates rankec fourth--after Italy, Britain and France, respectively -- in shipping that year. There is talk here that Western investment houses, or perhaps the World Bank, will raise several hundred million dollars for a "debt management fund" to get work started. Before the Ibis spring will be accompanied by some dramatic gesture -! perhaps writing off of millions of dollars of debts owed Washington through the billion-dollar food for peace program which ended when Cairo broke relations with Washington in 1967. They note the precedent was ct when Washington last year cancelled India's rupee debt equal to $2.2 hillion, owned primarily for grain supplied amine relief. AID REQUEST A State Department official said in Washington that the 1967 war, Egypt had a Bank commitment World pro- N'ixon Administration would ask Congress to authori/e about 3250-million in economic aid lo Egypt for the next fiscal year. Such assistance would include iunds to help reopen the canal, as a move to show that the U.S. attitude toward Egypt is "posi- live," the official added. Egypt also is hoping for reconstruction aid; from ils Aral oil-producing brethren, who art. expected lo amass about $70 billion in surplus revenues this year. Bui observers say cautious Arab investors arc more interested in sure, reia lively quick money earner such as a proposed billion dol lar petrochemical plant to re fine crude oil. Once the canal is opened il i expected to earn at least a mil lion dollars a day in revenue. Another million dollars a day 'Wild come from the Sinai oil elds now under Israeli occupa- ion. The reopened canal may also oincide with a gradual decline n the supertanker hown as ran and other Persian Gulf oil iroducers begin refining their wn crude oil before shipment, Experts say thin-skinned super- -mkcrs would be unsuitable for ·arrying highly flammable re- "ined products. In Cairo, there's a boom town atmosphere of free spending and expectation. Hotels anc ministry wailing rooms illed with neatly-dressed, brief case carrying businessmen ca jer'For a piece of the action. "It's a bit like the California gold rush -- everyone is com ng but no one lias found an; 'old yet,'* observed one Com -non Market businessman. gram to deepen the canal to 70 feet from its then 38 feet to permit loaded tankers of 250,000 tons lo pass through. That didn't get off the ground, Egyptians hope thai the expected visit of President Nixon OUTSTANDING VALUE! Outstanding features, outstanding low price! 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