Northwest Arkansas Times from Fayetteville, Arkansas on June 6, 1974 · Page 22
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 22

Fayetteville, Arkansas
Issue Date:
Thursday, June 6, 1974
Page 22
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Page 22 article text (OCR)

'I^KSS^ftrS.SSS' nvn " Jun ' *· m4 Libel Suit Or Pie In The Face? University Newspaper Faced With A Choice SEATTLE. Wash. (AP) -Faced with a choice between a libel suit or surrendering a reporter to be hit with a pie, the University of Washington Daily opted for pic. At issue was a file photograph of Diane Cheap, a 1970 graduate, as she received a de- lating award. It was reprinted n the Daily's April 15 issue to llustrale Jotvi Snail's column poking fun »i beauty contests. Mrs. Cheap, a high school teacher in Snohomish, Wash., said through her attorney and former debate partner, Arthur D. McGarry, t h a t the article was libelous, slanderous and made her the subject of ridicule among her students. She threatened a $1,000 libel suit unless the Daily agreed to turn over the person responsible to be hit with a custard pie. "My first idea was to dump a bath of Kook-Aid on his desk but 1 was afraid he'd sue me,' she said. The Daily consulted with college laxvyers who said her case looked pretty solid. So on iVednesday afternoon, SneJl, McGarry and Mrs. Cheap held a brief ceremony outside the Communications Building. Snell stood in a bathing suit, Not Required CINCINNATI, Ohio AP) -- A federal appeals court ruled to day that federally owned facilities are not required to obtain air pollution permits from the stales in which they are Jo catcd. The ruling by the 6th U.S. Circuit Court of Appeals came on a suit filed by the Commonwealth of Kentucky againsl the U.S. Environmental Protection Agency, the Tennessee Valley Authority, the Atomic Energy Commission, the U.S. Army and others. ;wimming flippers and a T-shirl emblazoned with the words 'Daily Libel Team." Mrs. Cheap, switching frorr custard to chocolate cream at the last minute, piled on massive helping of whipped cream and let fly. "If this makes her feel better its cool." said Snell, a sopho more from Walla Walla, Wash. "I've had clients who h a v e gotten more money out of a settlement but not more satis faction." said McGarry said. I only all libel suits could be sr faction," McGarry said. "1 easily settled." Actor's Son Fined BRIDGEPORT, CALIF. (AP - Scott Newman, son of actor Paul Newman, has been finec $1,000 and placed on two years' probation for kicking a law offi cer who was transporting him to jail after a Feb. 5 arrest to drunkeness. Consideration Of Debt Status Is Staggering By JOHN CUNNIFF Business Analyst NEW YORK (AP) -- There exists that ancient a r g u m e n t of determining at what point over debt becomes excessive. At the extremes, proponents of one point of view insist that credit is a right to be used "rcely in quest of a better life, while advocates of the other view maintain it is a sin that leads to financial hell and damnation. The extremes would agree on one thing--public and private debt in the United States amounts to an almost in comprehensible figure. At the end of 1973 it totaled 32.525 tril lion. On a per capita basis that amounts to roughly $10,000. The net public debt, made up of the obligations of the federa government and its agencies plus those of state and loca governments, rose 6.4 per cent last year to a total of S593 bi lion, but was far exceeded J8y private debt. In that latter category, corpo rations alone accounted for $1. billion of the $1.93 billion total, ith the remainder divided among individuals and corporate enterprises. Corporate debt rose 13.6 per cent, individual debt by 11.6. Consumer debt, mainly of the kind that is paid hack in installments, now exceeds $180 billion, compared with $157 billion in 1971 and $138 billion in 1971. But don't forget that inflation alone makes figures look larger. The individual debt category' is accounted for by home mortgages, which amounted to 374 billion at the close of 1973, up 35 billion in a year. But don't forget that the population k e e p s rising too. Is all this too much? Those who most enthusiastically defend the present debl position maintain it is still with in bounds, that much of it is backed by collateral and earn ing power, and t h a t borrowers are more sophisticated in using credit. A good many critics, man informed financial people, are growing more fearful that both families and corporations art torrowing too far into th« fu ,ure. _ Dog's Tole Of Wo« GRASS VALLEY. Calif. (AP)' -- A playful game ot catch' really put Rusty, the Harold Krauses' 7-yearold Chesapeake retriever, in the dog house. 'Here, catch,' Krause said to his wife as he tosed her » wadded $100 bill. But Rusty also was listening and he caught the bill in his mouth when it bounced off Mrs. Krause's knee. Krause said when he tried coaxing Rusty to give up the money with a piece of bacon, the dog swallowed both. A veterinarian's attempts to have Rusty disgorge the bill failed. The Krauses said they waited for nature to take its course And after two days of patient attention, they said the bill was recovered--in usable condition. Suzanne Pleshette Portraying TV's well-adjusted married woman, Suzanne Pleshette Is moving into her third season on "The B o h Newhirt Show" on television. The actress says she faces real-life personal problems (he same way: "Laugh it off or overcome II." (AP Wire- photo) Investment Firms Find Small Investors More Independent By JOHN CUNNIFF Business Analyst NEW YORK CAP) -- A fascinating change in the investment scene that might pose big problems for professional money managers, hut which often is overlooked, is the tendency of investors today to exercise more independence of judgment. In the 1960s, millions of Americans turned over their savings to money managers with only one request: "M ake me some money." The money managers agreed to the arrangements, and sometimes they produced results, too. Then the disillusionment. The slock market broke, and with it snapped the untested faith of customers in their advisers. So also did the myth of superior wisdom and insight. Unlike the 1960s, when playing the game was easy, money managers now are being tested. Month after month the assets of m u t u a l funds ,decline as cus tomers redeem their shares, often at biff losses. To a much greater extent, it seems, small investors are relying on their own wits and knowledge, which in some instances is superior to the advice that was offered by (he so- called experts. Many brokerage houses also are having a tough time corn- acting, even though competition reduced by the demise of scores of firms. Money managers can't seem develop selling programs :hat have appeal -- which is understandable, profit being the ;nty story (hat all investors believe in. And profits can't be shown in today's market. In a paper prepared for a Conference Board panel bore oclay on "Portfolio Strategics the Seventies." the vice president of a major fund ?roii]i asked: "Do any of you here really eul that you can set forth a definitive strategy today that you could leave unchanged for ; year, much less four or five?" If this is so. whjit, program can the funds and the brokers sell to their customers? The fund vice president reached this conclusion: *'A soundly conceived and ad ministered investment decision making process is today's best bet for sound strategy in the 1970s. Our life style is too difficult for it to be otherwise." Try selling that to the customer of the 1970s. Ten years ago he mightn't have hesitate* before putting up his money and might even have admired the appearance of wisdom. Today he sees right through it. 'Hit Parade' To Return To Airways For Summer Season By JAY SHARBUTT NEW YORK (AP) -- Singer Kelly Garretf. who has left a Broadway musical to star in CBS' summer revival of "Your Hit Parade," won't exactly be traveling down memory lane to reach her new destination. She says she does recall the show starred Gisele MacKcnzie and Dorothy Collins, among others, "but I don't ever remember watching the show." Miss Garreft, of Santa Fe. N.M.. who comes from a family of 10 children, says her home lacked a TV set. "We never had television in Santa Fe." she said. "With 10 kids, you were lucky to have food, forget television." The old "Hit Parade" show had its heyday in the mid-1950s but folded in 1959. It's coming Bennett Trial Decision Said Expected Soon WASHINGTON (AP) - Ed' ward J. Barnes of Washington. a special attorney for the Justice Department, says a decision will be made soon on whether to try former A r k a n s a s Atty. Gen. Bruce Bennett on charges of violating federal ·ecurities laws. Bennett is charged with 27 counts of federal securities laws violations in the operation of the defunct Arkansas Loan and Thrift Corp. Three other persons who were charged in the same 1969 indictment already have been convicted and are serving prison terms. Bennett's trial has been repeatedly delayed because of ill nesi. He undewent throat sur- fery in 1969 for cancer, but is now practicing law at El Dorado. Ark., on a limited basis. Barm* has said that the government didn't prosecute il! ·mon* because juries were unlikely to coovict them. back Aug. 2 for five weeks with Miss Garrett and three other regulars who haven't been named yet. Miss Garrett. an ebullient soul, credits the new Job to the :e reviews she recently received for her singing [n "Words and Music," a Broadway showcase of tunesmith Sammy Calms hit song's over the years. She said her career started taking off when she got good reviews two years ago white in a n o t h e r Broadway show. "Mother Earth." It.led to major TV guest shots and \vork in the nation's hotter night clubs. A key p a r t in her career struggle involves m u s i c arrangements. Young saloon singers who are just starting out frequently are dismayed to learn one simply doesn't tell the house pianist. "Maestro, 'Fever' in the key of C. if you please." One needs prepared musical arrangements. And they cost dough, as much as $700 a son., when prepared by top craftsmen. Miss Garretl was asked how she overcame her inusical balance of payment problems when she first sought Hollywood night club work. "I was very lucky." she said. "When I went there. I met some very talented people who believed in me. One was a fine piano player. Bill Baker, an arranger who'd worked there for years. "He did me so many favors. If I had an audition, he'd play for me free. I never had any money, but he'd put together arrangements for me when I was going into a club. You don't forget people like that.' Egad, almost forgot a good public TV show coming up tonight. It's the 47th annual National Spelling Bee from Washington. D.C, Some 79 young spellars from across the United Stales are in compitition. Humorist Jean Shepherd is doing the comentery. E D I T O R ' S NOTE: Misspelled words are deliberate. FAMOUS SPRllGAfR 8 MATTRESSES AND BOX SPRINGS fflj tfrflfc "ANOTHER FANTASTIC SPRlNGAfR. BUY! EACH PIECE Twin or Full Size F.O.B. OUR DOCK 1DAY ONLY! l T *s* i X--iri} V??. ^fc 112 PIECES . 'QUEEN MAKE YOUR SELECTION FROM OUR SHOWROOM. THEN PICK UP YOUR SPRING AlR MATTRESS AND ,. BOX SPRINGS RIGHT OFF THE TRUCK! **~~ SAVE NOW! FANTASTIC TRAILER SALE OF FACTORY OVER-RUN SPRING AIR MATTRESS AND BOX SPRING SETS. AT OUR RIGHT OFF THE TRUCK SALE, you'll find tremendous savings on Spring Air mattress and box spring sets. A great selection -- all Quilted matched sets of moderately firm construction. Most are full size. Limited quantity of twin size. If you've been thinking about replacing bedding for your room or for trie children's rooms, NOW IS THE TIME! You'll never get a better bedding bargain. The prices may astonish you, but because we made a special purchase of Spring Air factory over-run -- and because we save warehouse and handling costs when you'pick up right off the truck -- we can offer you these tremendous savings. RIGHT OFF THE TRUCK SALE! KING SIZE SET $ 1Gg oo SORRY, AT THESE PRICES, THERE IS A LIMIT OF ONE SET PER CUSTOMER. NO PHONE OR MAIL ORDERS, PLEASE! VISIT OUR SPRING AIR BACK SUPPORTER SLEEP CENTER BE HERE THE FIRST THING FRIDAY MORNING. THESE RIGHT OFF THE TRUCK BEDDING BARGAINS WILL GO FAST! Open 'til 8 p.m. Friday FURNITURE BEDDING 41 E. Center, F«y«tt«vi1k PheiM 521-2700 CARPET

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