Northwest Arkansas Times from Fayetteville, Arkansas on June 28, 1974 · Page 20
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 20

Fayetteville, Arkansas
Issue Date:
Friday, June 28, 1974
Page 20
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u Norrhwwt Arkonw. TIMES, Friday, Jurw II, 1974 ARKANSAS Fair Grounds This Is a view nt the 1964 65 World's .Fair Grounds In New York's Flushing Meadow-Co- rona Park shortly after the f a i r opener). Most of the pavilions and elaborate hulld- IRKS arc gone, bat there are still signs of the fair, 10 years later. (AP Wirephoto) Updates On Oil Profits, Mutual Funds, Working Wives By JOHN CUXMFP ! NEW YORK CAP) -- Another act in Ihe oil-profits story may foe developing, atid the oil companies aren't looking forward to it. You'll recall lhat profits last year and in [he first few months of 1974 rose sharply. As the First National City B a n k observes, earnings were widely hailed as dramatic lively indecent ,,." 'if not posi- The bank analyzed the statements of the 37 major oil companies b a s e d in the United States and found they were able to raise their net income by 55 per cent in 1973 and by an 81 per cent annual rate in the first quarter of 1974. But there now seems to be possibility that those profits could t u r n to losses, ironically because they attracted so mudi attention. Among Ihe threats to those profits are higher taxes and big wage dcmamii. as government and l a b o r seek to share in what they believe is a financia bonanza. The oil conn panics will be forced to allocate huge amounts of money to expansion am modernization "both to catot up wilh the supply backlog am to meet the far higher level o investment costs." Performance used to be acl vertised by the mutual funds. Rosamond Steps Down, Inquiry Is Slopped ;oocl p e r f o r m e r , one that might ncrcase its net asset value 40 51) per cent in one year. ountl investor money flowing nlo its coffers. You don't hear much about it uiymore, and no more reason- ible explanation can be sup- lied than to look at tiie per- 'ormance records. They're gen erally poor. Standard Sr Poor's has just issued its performance list and it shows that share assets of the 50 largest funds declined 11 per cent between the end of last ·ear and May 31. "Over-all, only about 42 per cent of the -112 f u n d s monitored by SP showed above-avcrsiie results," it reported. That loss by the SO largest funds, cidentally, exceeded the 10.5 per cent drop in the SP 500- stock index. You may have wondered hpw your neighbors make ends meet these days. The Conference Board, a private organization devoted to business and economic research, offers some explanation: More wives are working. Participation in the labor force by womer in the 25-to 54 year-old group rose sharply in the past two or three decadas, it notes. In 1947 only 34 per cent were at work or seeking work; in 1973 some 52 per cent were so engaged. LITTLE ROCK (AP) -- May- · Bob Rosamond of North Little Rock resigned at 1:33 [i.m. Thursday, only minutes before the Pulaski County Grand J u r y concluded its investigation into Rosamond's dealings with businessmen who have city contracts, Pros. Ally. Lee A. Munson of Little Rock said said there apparently : would be no indictment returned in the investigation. However, he said that to his knowledge there was no offer of i m m u n i t y or any such deal made with Rosamond in exchange for his resignation. Thomas Fuzzell, 'grand jury foreman, refused to comment when asked if the jury had made any offers to Rosamond. In a prepared statement. Roomond said he plans to re- .urn to private business. lie said he had not knowingly committed any ileLgal acts w h i l e serving as mayor. He also said he was resigning in an effort to remove the controversy surrounding himself. A drive to replace North Little Hock's mayor-council form of government with a city administrator form is directed at Rosamond personally, he Presbyterians Endorse Use Of Impeachment LOUISVILLE. Ky. (AP) The policy-making body of the United Presbyterian Church has endorsed the use of the im peachmenl process "as a jusl means of resolving for the na tion the current governments crisis (Watergate)." The 1.200-word impeachmen s t a l e m e n t approved over whelmingly by the 725 commis sioners at the conclusion of thi 10-day 186lh General Assembl; did not refer to President Nixoi by name. The statement, entitled "Wa tergate: A Moral Crisis," said n part: "In our public life we hav seen officials, including th President of the United States openly endorsing the reprehen sible principle that the end jus tifies tile means." The Rev. Robert C. Lamar o Albany, N.Y., moderator of th General Assembly, said th statement is "insisting that in peachmenl is the only respoi sible way to resolve the (W, tergale) issue." The commissioners also a: proved unanimously a motio to begin local study of propose reunion with the denomination southern branch, the 900.00 member Presbyterian C h u r in the U.S. (Southern). The h branches of Presbyterianis were divided by the Civil Wa There are 2.8 million persons the northern denomination. The earliest the two church could be reunited is 1977. Catholic Cites 25 Psychic Causes For Valid Annulment NEW YORK (AP) -- Ameri- _m Roman Catholic bishops ive won an extension by the alican of euiier, faster matri- lonial court procedures which a\ r e increased tenfold the umber of annulments granted atholics in this country. The simplified system, first llowed on an experimental asis in 1970, had been ordered nded as of this June 30, bul he order now has been lifted n appeal by the U.S. bishops. Pope Paul VI decided to . 'ant their petition for "the ood of souls" by allowing con inuation of the special proce durcs until a long-term project f revising C h u r c h canon law is :ompleted. a Vatican letter ad 'ised. Word of the turn-about asscn resulted f r o m the efforts of six-man delegation sent l iome in February by the U.S jishops to plead with the Pop extension of the liberalizei rules. Msgr. Stephen Kelleher, a: authority on Church marriage aw, told an ecumenical confer cnce sponsored this month a arrison. N.Y., that the mim er of annulments granted i ·his country has climbed fron about 700 in 1969 to a c u r r o n figure of about 7.000 annually. Even this total is "onl touching the tip of the fc berg," he added, noting co scrvative estimates that i least lOO.WW Catholic marriage a year end in divorce, leavin those involved excluded from Communion if they remarr without a Church annulment i their prior union. In Western Roman Catho cism, valid marriages are co sidered indissoluble. Divorce except in rare instances -not permitted. But marriagi n be annulled if found invalid Ihe first place. Moreover, the reasons for iding them invalid have ex anded greatly to include vari is psychological factors ir cated at the time of- the wed ing -- such as "psychic ir egularity," "lack of due dis retion" and plain immaturity. The Rev. John V. Dolciam re. an official of the Chicag Petition Signatures LITTLE ROCK (AP)-The A-r ansas Credit Requirements Committee has more man enough signatures to get a proposed change in the state's usury law on the November general election ballot, a committee spokesman said Thursday. Al Graves, the committee's c a m p a i g n director, said m p . ,, through a spokesman that the committee would present more than 200.000 signatures to Sec retary of Stale Kelly Bryant to day for certification. A spokesman for the sec re t a r y of state's office said 64.80' signatures would be required tc rchdiocesan marriage tribun I. told a convention of the Ca on Law Society of Americ nat the Church is increasing! e c o g n i z i n g "psychic apacity" as a basis for annulment. "With the development of isychiatry and psychology, \ve arc learning more and more bout what constitutes a person o be a fit subject for marriage," he said, ' He cited documentation of 25 different psychic causes for inding marriages null, including alcoholism. anxiety neurosis, immature personality, tiadequate personality, passive- aggressive personality and simply "personality disorders." In the past, the Church limited such grounds for annulment to cases in which a person lacked conscious Tree will -- such as being coerced, being drunk and insane. place the issue on the ballot. The committee is seeking t remove the 10 per cent usurj Postmasters MEMPHIS (AP) -- Regional 'ostmasler General Carl C. Ul- akcr announced loday the appointment of five new postmasters for Arkansas. New appointments, which become effective Saturday, include Bessie M. Bailey of Alexander. Mrs. Clarice P. Roden of Gillham, Dennis C. Burbank of Jacksonville. Kenneth R. Brandon of Plumerville and Robbie J. Kcnnedy v of Tumbling Shoals. l i m i t set by the slat eCon- stUutlon. The committee wants the legislature to have the power to set such limits. TERMITES? CALL A D M I R A L PEST CONTROL Roochei, Ants, Spiders, etc. COMMERCIAL A RESIDENTIAL Sip it slow... Kentucky Beau We'vebeenmaking gentlemen's whiskey in Kentucky since 1800. And everything we know has gone into Kentucky Beau. We took our time making it. Take your time drinking it. 86 Proof, 6 Years Old .Kentucky Beau Straight Bourbon Whiskey Nashville Has Capacity To Become Production Center charged. Rosamond had appeared be- by JAY SHARBUTT AP Television Wrilcr NASHVILLE, Tenn. (AP) -This pleasant, deceptively re- laied-looking city seems an unlikely candidate as a TV production center. Sure, a network producer occasionally roars in to tape a special or two here. But a production center? Yep. even though its shows now only are syndicated efforts u s u ally upstaged by flashy network "country" musicales that mix hay with concrete to get a kind of cornpone sludge. The real Nashville shows here usually are either gospel or bona fide country music -and comedy, in one case -- productions. Right now, at leasl nine are in production or getting set to tape. They range from the well- known "Hee Haw" series to the venerable, 15-yeor-old "Porter Wagoner Show" to the new "Pop Goes the Country," a 30 minute talk and music show to be hosted by Ralph Emery, accentless, respected radio -- WSM -- influence in countn, music. Most syndicated TV shows here have been done at Nash ville's three commercial T\ stations -- WSM. WLAC and WNGE. Most still are. But a new factor has entered the pro duction picture here. It's a $2.5-million radio-TV fa cility at the WSM-owned Opr yland Palace which Presiden Nixon dedicated last Marc] when the Grand Ole Opry lef the revered Ryman Auditorium downtown for its new home. Opryland's broadcast cente has a large TV studio, seven color cameras, new audio anr videotape gear and a comput erized console to let a show be 'taped, mixed and edited in one central location. "It was built with the idea o using network, syndicated an commercial (advertising) pro duction here." says Bill Turner WSM's TV production manager, "We're here to compete with both coasts." Big city producers may heehaw at the idea, but the man with the real "Hee Haw" -- its producer, Sam thinks Nashvil ve, are Ivladison Avenue, ack of top-level technical -- ut not audio -- expertise and xperience in set design, ward- ode and makeup matters. But the craft and technical aps are narrowing, he says, and "the facilities are here, hcy're available. You get the ight combination, the creative, he technical people, and you could make it work." ----- fore the grand j u r y about two hours Wednesday and had returned Thursday morning. He was kept waiting outside the jury room while the jurors apparently argued. Reporters outside the jury room could near loud voices from inside the room. Rosamond and his attorney were in the jury room about five minutes. Rosamond re-entered the grand jury room at 1:30 p.m. Three minutes later ie left and distributed copies of his prepared statement to reporters. Senate Approves Yets Benefits WASHINGTON (AP) -- T h e Senate has passed unanimously and sent to the House legislation to keep benefits from expiring for four million veterans who served between 1955 and 1966. The measure would affect im- icdiately some 205,000 -post- Korea veterans and 79,000 Vietnam-era veterans currently receiving education benefits un- dr the GI Bill. Without the extension, their benefits would expire automatically alter this week. The Senate action came Wednesday as the Senate and House veterans affairs committees remained deadlocked on ho wrouch veterans' benefits should be boosted over-all. The Senate bill would crease GI Bill benefits by 18.2 per cent, offer veterans up to S(20 a year in tuition costs, provide as much as $2,000 a year in federal loans and expand the maximum time period for benefits from 36 to 45 months. The Hojsa has approved a bill to provide a 13.6 per cent cost of living increase. The House bill, however, would not provide tuition grants, loans and a longer benefits period. Also on Wednesday, the Senate passed unanimously and sent to the White House a bill appropriating funds for 15 to 18 per cent cost-of-living increases Suspect Sought Since '58 Is Apprehended COVINGTON. Ky. (AP) -Police here Thursday apprehended Kenneth D. Nicley, 35 wanted for murder in Arkansas and Kentucky and a Shootout in Texas -- all in 1958. Nicely, who is now married has lived here under the name of James Lee Cody, police said. Police declined to say what ed to Nicley's capture, but (hey did say he gave up without a struggle. Nicley was turned over Kentucky Slate Police. He ., vanted in the shooting death of T "-- Brown, 46, and for car said Nicley allegedly drove south following the snoot- Tony heft. Police London. Ky., Sept. , a e Prescott authorities critically wounded. Police LovuIIo -le eventually could change from a small to a fairly significant TV production center. The m a i n holdups now, says Lovullo, a former CBS exc-cu- to some veterans 2.2 million and 375.000 disabled widows, . , children and parents of men who died of service-connected causes. President Nixon last month srgnert legislation authorizing the boosts. ng in Q - Q .Nicley allegedly shot iilled Patrolman Ed Viden of P . re5co ". Ark., who had flopped him for a traffic violation, according to police. . He was convicted of Ihe killing and later failed to return to Arkansas prison officials when granted a temporary fiu-loueh from prison in 1968. P°Jice shooting occurred police said, escaping and was said an exchange of gunfire was reported by Texas authorities after Nicley wj stopped on a speeding charge. Chairman Resigns LITTLE ROCK (AP) _ Frank L. Whitbeck of Little Rock, who has served as chairman of the state Public Building Authority since 1973, has resigned. His resignation was effective June 20. Whitbeck was not available for comment Thursday. The authority oversees the development of new construction on state Capitol ground*. VYHYDOPEDHE VWSUS? irSANEW ANH-PERSPIRANT FDR PEOPLE UK US AT ATM IKE THIS NEED W ASK

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