Northwest Arkansas Times from Fayetteville, Arkansas on May 30, 1974 · Page 7
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 7

Fayetteville, Arkansas
Issue Date:
Thursday, May 30, 1974
Page 7
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Page 7 article text (OCR)

U.S. Trade Shows Strength Despite Heavy Oil Imports By JOHN CUNN1FF - - · - - Writer ;NEW YORK (AP) -- While (he United States turned In a net trade surplus of nearly J93 million In April, it is far too early to say that deficits are behind us. Not with oil prices as they are. : No matter how encouraging the country's exports look, some trade analysis look for a net imbalance . for the entire year. Blame it not on export weakness, they say, but on import prices, especially for oil. The Morgan Guaranty, which folio' Nortfrw*** Arkansas TIMES. Thur*., May 30, 1974 e 7 closely follows: the .situation, foresees a 1974 trade deficit of as much as $5.5 billion, the unhappy consequence of an increase of JM6-billion or more in the cost of oil imports. Aside frb.m the problem--and realistically, of course, it cannot be put aside--the U.S. trade position has improved in several categories during the past year, remarkably so in some respects. Many a food buyer won't view the situation with the same joy as might a government bureaucrat, but a good part of the'improvement is due lo a huge leap in .the value of agricultural exports from this, the most highly industrialized nation in the vtorld. In 1972. the United States sent abroad $3 billion more agricultural goods than it imported. In 1973 the comparable figure was $9.4 billion , and in the first quarter of 1974 the agricultural surplus rose to an annual rate of $13 billion. WORLD'S BREADBASKET While that first-quarter could very well fall off to a .full-year rate roughly the same as last year's, it does indicate the preeminence of the United Slates as the .world's 'breadbasket, even if some of the increase is due to inflation. Almost every other nation on earth has a-greater proportion of its citizens engaged in agriculture, but none can even ap- Classified Ad Asks Expletive Deleted BALTIMORE, Md. (AP) -- A classified ad in the Baltimore Sunpapers for an "expletive deleter" drew a number o calls to the White Houso switch board, an operator there said. The origin of the ad, which appeared in the newspapers in their Wednesday'editions, \va not clear. It said: "Sensitive position preparing official documents for publica lion. Extensive vocabulary quired; retired drill instructo preferred. High pay and goo benefits, including execuliv clemency.*' proach the United States In pro ductive capacity and efficiency Fortunately for the trade bal ance, but lew happily for the A m e r i c a n consumer, foo prices are increasingly deter mined by a world rather than domestic market. It world de mand pushes up prices, Amer cans must pay too. Another encouraging segmen of the trade figures is finished manufactures. especially of heavy, capital items. In 1972. finished manufactures showed a net trade deficit of SI billion. In 1973, a $1 billion surplus showed up. Since the third quarter of 1973 the surplus in this area has been growing, and during the first three months of this year was at an annual rate of $6.1 billion. Aided by a dollar devaluation that Morgan Guaranty puts at 19 per cent in about four years, U.S. trade strength actually has improved except lor that big but - oil. All by itself oil Is tipping the balance of trade, and not nearly so much because of is volume as its price. Last month, s a i d Commerce Secretary Frederick Dent, imported oil averaged $9.84 a barrel, versus 52.78 a year ago. GM Acknowledges Defective Vegas DETROIT (AP) -- General Motors says it is responsible for engine damage caused by overheating in up to 1.3 million Chevrolet Vegas and will make needed repairs free of charge. Every Vega the company has made is involved in GM's offer. At the same time, the auto giant disputed on Tuesday a report by the National Highway Traffic Safety Administrallon that 441,000 GM cars might ave a defect that could cause cceleralors lo jam. GM said did not consider tbe problem, nvolving 1965-1963 Buicks and 970 Cadillacs, "safety related." The auto maker said it would ffcr the Vega repairs to own- rs who have driven their cars ess than 50.000 miles and have not abused the vehicles. Normally the subcompact's aluminum engine carries a 12-month The ad' gave number of the switchboard. the telephon White Hous Queried about the ad, a White House operator said, "We're aware of it. We've had a number of calls." A; White House press office employe said, "It's the first I've heard of it." A newspaper employe said the ad was apparently paid for in cash sometime Tuesday. It did not appear in the Thursday editions. Galbrailh May Hot Return To Teaching CAMBRIDGE, Mass. (AP) -Economist John Kenneth Galbraith says he may not return to the teaching job he has helc at Harvard for the past 25 ;years. "Everything is in the realm of interior speculation." he told the Harvard Crimson Wedncs day. "I'm contemplating the whole future." · Galbraith..- who will be 6fi .. October, said he plans lo pro duce a British television series in England next year. warranty. The Vega was introduced in 1970. GM said the Vega engine is more susceptible to damage caused by overheating than conventional cast-iron engines be cause aluminum does not stand up to extreme heat as well. Overheating could warp the engine block and cylinders, re quiring hundreds of dollars in repairs, a Chevrolet spokesman said. He declined to estimate how much the firm expected to spend on the repairs. The safety administration said a potential defect in two brackets in engine mounts of 1965-1968 Buick Electra 325s and Wildcats and 1970 Cadillacs wilih cruise control, except El Dorados, could cause the accelerators lo jam. -FUN-MART- Open 9 a.m. to 11 p.m. · GO-KARTS · GAS-BUMPER KARS · MIN-E-GOLF · MOON WALK · KIDDIE RIDES · CONCESSION · Birthday Party Rotes Highway 71 North --Springdale-- Open 7-a.m.--6 p.m. Mon. thru Sat. Shopping Center GARMENT STORAGE $200 FREE INSURANCE ON ALL STORAGE Pick up your box today, pack it, and return it, it's thot simple! Enjoy care-free closets with our storage. AH you pay is the cleaning price in the Fall! FUR STORAGE Finest Cleaning, Glaring, and Repair Service in owr modem, cold storage vaults. Give your furs the protection they need. i.-iiil fir storage tastae* we ·**· tm *ar own Bernard Ha?*7e.M TMlCLH «r tretae* expert, care tor ywr fee tars. -You WS* L*» Owr SpacM C«r«" SHIRTS 40 ea BEAUTIFULLY LAUNDERED AND FINISHED Special Ifemil-BlMket Fiberglas Draperies pr- .4.88 .4.88 .8.88 8.88 12.88 12.88 Fashion 48"x54" 48"x84" 72"x63" 72"x84" 96"x63" 96" x8T 120" x 84" 15.88 All rayon flocking on glow fiber. Pinch-pleated with bottom and aid* hems. Hand wash. Black/White, Red, WhrM/Gold, Blue, Green, Gold. JCPenney Home Furnishings Specials Thursday, Friday, Saturday Only. Special Buy! Drapery Rods 'Avanti', is a striking handsome steel traverse rod with backed enamel finish. 388 . 588 30-50" adjustable 90.150" 99 Yd. Seersucker Specials 122 166 I Yd. I Yd. 50 % POLYESTER, 50% RAYON. 45" WIDE, MACHINE WASHABLE IN LIGHT SUMMER COLORS. (Similar to Illustration) Special BEAUTIFUL BIO THIRSTY . Terry Towels in assorted patterns and colors. Wash Cloth 44* Hand Towel 88* Both Towel l.$6 Special Kitchen Coordinates Pot Holder Dish Cloth Oven Mit . Dish Towel Apron . . . . Fashion Bright colon) to decorate' your kittren. (Similar to Illustration) 3.88 Cut-out your patterns in a jiffy with two- sped electric scissors. Cuts nil fabric types cosily and y. 10" UL listed. Fully quilted throws. Fully quilted throws. Special 9.88 twin or fwfl QuMaorMflQ , ·Mated* Kite] cotton. AHorttd colors. Machine won, no-toon. Special 10»» ,,, Bedspreads wMh cotton top Md pot/Mew fill. An elegant floral dnign in assorted decorator colors. Machine wash, no-Iron. Shop Thurs., Fri; 9-9 Saturday 9-5:30

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