Northwest Arkansas Times from Fayetteville, Arkansas on July 11, 1974 · Page 16
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July 11, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 16

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Fayetteville, Arkansas
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Thursday, July 11, 1974
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Page 16
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Nerthw.rt Arkontos TIMES, Thurt., July 11, 1974 EAYlTTtVILUE. ARKANSAS '' y/xvi'^-.-^ n i c j LI r · ^-w«V Real Spendable Earnings Said' :4.5 Per Cent Below A Year Ago By JOHN CUNNIFF ! ·/.NEW YORK (AP) -- Sometimes you can ignore the numbers or say that they lie. but '\vhen you're impaled on them, ; »s is the American consumer. ·you know by the pain that the ^numbers are real. '·· Most significant or the nu- ^merical spikes are those that show disposable income has ris- °e'n close to 10 per cent during 'the past year' but 'that prices have risen even more sharply, 'although only slightly more so. But the pain doesn't come from prices alone. Taxes too have risen. So, despite those pay increases, real spendable earnings at midyear are 4.5 per cent below a year ago. Adding to the financial strain of many families is the necessity to pay off soms of the big installment credit loans that were taken out in 1972 and 1973 ^ some of them forced on con- by existing financial strains. According to Harris Bank of Chicago, the rise of installment credit in those two years was exceeded only once before in the past two decades. It increased 15.1 per cent, conv pared to 16 per cent in 19551956. There were unusual factors at work in that earlier period. It was a time ol unprecedented increases in automobile sales, for one thing. For another, it Nvas the beginning of a tren dto- ward those "easy credjt" terms we have today. Moreover, debt in relation to income was far less th'an it is today, the savings rale, which most forecasters believed would rise this year. It might have, for a ·while, but it too seems to have fallen victim to the need to pay inflated bills. Tn the'"last ifireViruSilhs of 1973 it Jumped to 7.3 pe? cent of disposable personal Income, after .having reached a low point of 5.7 per cent in the previous quarter. In the early part of this year it dropped back to 6,6 per cent. ',;. · · , The '. most plausible explanation is that consumers had little choice but to spend rattier 1 ! than . save because of/ the ; in-l creases in the. prices, of -gaso-1 line, heating .oil ·Sad', Itfpd: Al-1 ready attheiricredit,'ilimit, tlieyl obtained the~"m"6riey : .ff6m whall might have been.carrnarked?[or.| the bank or an insurance''pol- icy. This Friday Only I Area Employment figures Show Gain For Month 1 ' Employment in the Fayette ville-Springdate area totaled 59,500 in May, an increase of 1.100 since April and 2,600 since May of 1973, the Employment Security Division said today. .Non-agricultural wage and salary employment gained 550 over the month and 2,450 since May of 1973. All other non-agricultural employment was up 450 since April and 350 for the year. 'Unemployment decreased 300 over the month to total 2,250 in May, an increase of 200 since May of last year. The seasonally adjusted unemployment rate, at 3.9 per cent, decreased four-tenths of a percentage point since April but increased one-tenth of a percentage point since the previous May. , Manufacturing employment showed an increase of 250 Between the two months with at the poultry processing plants showing a A good many econq'rhicyfftrevl casters believe that instaltmenll credit, now totaling close, ; 'tbl $150 billion, will rise more slow I ly 'in'.the second half of. thel year. It is, in fact,/rising-cufjl rently at a ratfefles^; than.eril half that of 1973.:''"'" v - - * " i Forensic Institute Plans Made Known Mrs. Mary Ingalls, director I of the second Summer' Foren-'l sics Communication Institute,| which-will be held on the. Uni versity . of Arkansas campus July 22 through Aug. 2, had announced the daily schedule for the 13-day.program. Registration r will be f r o m . ' p.m. to 8 p.m. Sunday, July I 21. in the Pomfret Housing Gen-1 ter. AH activities will take place I in the Communications Center, I utilizing the new voice and die-1 tion and television laboratories. I A picnic is planned for ttie I only Sunday during the work I shop, July :2fl, -.at-. Horseshoe I Bendr - on Beaver Lake. - !Thd| annual -awards .banquet,-will | take place Frirtaytnight,- August employment gains c a n n e r i e s a n d 2, at Pomfct Housing Center.- The schedule: Monday, July 22 - Orienta-ll tion, research methods and I introduction lo the voice and I diction and television facilities. I Tuesday, July -23 --;Debatc,!| theory and analysis. .'Wednesday, July 24 -- DebatelJ (analysis of topics.-case : con-| struction). · ! · · · · * · [ Thursday, July 25. -- Extemporaneous speaking. - - .-·· ·. Friday, July 26 Original! oratory. 1 · I Saturday, July 25 -- Student congress. I Sunday, July 28 -- Student | congress and picnic outing. Monday, July 29 - Interpretation of prose and poetry. Tuesday, July 30 -- Interpre-1 lation of drama and duet',act-| ing. Wednesday, July 31 -- Cross I of 200. '"An increase examination debate and preparation. in orders increased employment in other durable goods by 100, while the metals industries were down 50. :"Non-manufacturing employ- tjient increased 300 to total 33,500. Increases in professional and personal-services added 300 to the service industries. Trade was down 50, while government employment gained 50. Weekly earnings of manufacturing production workers in May increased S8.31 since April, the result of a 2.4 hour longer \yorkweek plus an increase in average hourly earnings from S2.97 in April to $3 in May. .. Unemployed workers were paid a total of $128,766 in benefits in May, down $53.783 or 29.5 per cent since April, but up $31,018 or 31.7 per cent over Ihe previous May. · Workers were compensated for 2,581 weeks in May, down 1.264 weeks since April but up 285 weeks since May 1973. · -The average weekly benefit payment in May was $49.89, an increase of 52.41 from April and $7.32 since May of 1973. ; Seventy claimants exhausted their benefits in May compared with 89 in April and 86 in May of 1973. debate, .practice] individual events I Thursday. August 1 -- Tournament preliminary rounds. I Friday, August 2 -- Finals! i tournament' and · awards | dinner. '···' ' · '·· Urban Renewal Agency Approves | Resolution SPRINGDALE -- The board 1 of commissioners for the Urban! Renewal Agency - "met Tues-1 day for a special meeting I and approved two amendatory I resolutions dealing with an I increase in f h e urban 'renewal I project loan note. . _ - · . , ... I The resolutions reflected a I $150,000 increase jn a loan lo.l cover the city's renewal pro-1 additional money I to meet interest! New Postal Rates In Effect July 6 'New rates for second, third and fourth class mail categories went into effect July 6. according to Fayetteville Postmaster Herman Tuck. ..He said the rate schedules provide for a gradual phasing-in of previously approved rates over a period of five or 10 years, mainly for non-profit mail users. The increases will take effect each July 6. Mail users in these categories are subsidized by Congress, with the difference between the full rates and the lower phase- in rates being paid directly on thejr behalf to he Postal Service in the form of an annual sub sidy. ,. The new law is estimated to increase the amount to be subsidized over the entire phase-in period by $751 million. First class and air mail rates are not affected. Included are general interest nf a 'g a z i n e s , weighing eight ounces, 4.3 cents instead of a previously scheduled 4.3 cents; non-profit magazines weighing four ounces, 1.4 cents instead of 1.6 cents, third class non-profit bulk mailers will pay a minimum of 1.8 cents per piece instead of 1.9 cents. Commercial third class mail users do not receive any subsidy and presently pay full minimum bulk rate of 6.3 cents per pi#ce. ject. The n e e d e d premiums was applied for and I receiver! from the department I of Housing and Urban Development. . . . . . Tuesday's action finalizes the I matter by authorizing . thej drawing up of a new loan note 3 to cover fhe additional money and by authorizing execution of the actual amendatory. 9 In other business, the com-1 missioners approved execution! of a contract with Ron Berry,-} an accoutant. to fake care of I the agency's bookkeeping. I Executive director for the! agency, Hilton Lewis, reminded the hoard that Commissioner. Walter Turnbow's term expires I in August. Turnbow has decided not to serve again. Annual, elections will be held at the! August 6 meeting. 7:00 P.M. , 4 To 10:00 P.M.V SAVE, SAVE, SAVE ... DURING THIS SPECIAL 3 HOUR SALE FROM THE flbRTHWEST ARKAN^ | Muly 15-18 New York Stock Exchange Display Muly 18-20 Professional Artist Tour July 26-27 Mallwalk Sale on/a/ MWMU SpnicW* I Fjyettnille on Hi»iy 71 SO NEAR . . . S O MUCH ACTIVE SPORTSWEAR ,.*.-.· Original $8 to$28 " '' Sizes 8-16 or S, M, L : " : NOW 5.27 to 18.57 V: 3 'ills, Ak. 442-5348 LI Meet fr«m our number one maker of active sportswear. Two exciting groups from which to choose. 100 per cent polyester or 5D pe rcent cotton and 50 pe rcent polyester. Jackets, short sleeve shirts, tank tops, pants, skirts and shorts are reduced. Choose from colors of coral, aqua, blue, red, or white. r Active Sportswear--D1LLARDS--First Floor CHANNEL MASTER COMPONENT SET Including: , -.....;..·..,. , . . . , . , - . . . . , . ; AM/FM Stereo Receiver with 8-track tape player. Full sized record changer with 'smoked"dust cover speakers, stand and headphones. ZIPPERS White Only 7"--10 10 Pricad $239.85 NOW ONLY BETTER DRESSES ·,Dresses,'Pant? is, and I^png Dresses. Orig. $38 to $88 i to \ OFF NOW 18.99 to 57.99 : Now you can save on these beautiful dresses, pantsuits and long dresses. .Made of 100 per cent Polyester. Sizes 8-18. Many fashion colors from which to choose- W« alto have In stock Johnson CS Radios from Just $159.95 THREAD 250 Yd. Spools 3 for 88' Northwnt Arkansas Plata Transatlantic Air Fares To Increase FORT LAUfiERD'ALE,-'FUf.l (AP) -- Air fares between the I United States and Europe, a l - 1 ready scheduled for a 5 per I cent hike in August, appear I likely to clfmb .still- more 'oh | Nov. I. - . · Forty airlines in the r N6rth I Atlantic t r a f f i c conference of I the International Air Transport I Association tentatively agreed I Tuesday lo new schednled-flight I fares 12 to 15 per cent higher I than the present ones. I n - 1 creases averaging 20 per cenl'L had previously Been imposed I this year. ·' '·' ·"'/ -I Under ' the proposed ' 'fare f boost, the price o r ' a ' s t a n d a r d ! economy class round-trip ticket! between New York and London I would go from $fi92 this sum- M mer to'?7R4 next slimmer. It|| was $626 last summnr. Famous Label SUIT SALE! Name brands include Ratner, Botany, Blass 500, 500's Numerals, D. BarlelH, Imperial, Fashion 400, v SUITS Orig. $140.00 . . . / . . . Now 99.79 Orig. $110.00 to $115.00 87.69 Orig. $100 77.69 Orig. $95 , 74.49 Orig. $80 to $85 ....... t l. 63.49 SPORT COATS Orig, $80 to $90 Now 59.99 Orig. $70 to $75 . . . . . N o w 43.99 Orig. $60 to $65 r^Now 39.99 \ DLL LARD'S' KaS 6 Pack Quart Size for PlusDeposit No Limit Pringles POTATO CHIPS 4.5 Ounc** Otc* R»g. 43e 29 s MOONLIGHT SALE s VALUES! . BABY RENEE Acrylic Y^ Reg. 57c Ski'm Skeins W R«g. 99c Skein Sk«ins ! f Renec II Acrylic Yarn f, ' Regular $1.67 41 f\t\. cu.iV, Skein *I.VJV Sk ! m .' . -. - · . ·-. · Values Good Friday Night Only Till 10 p.m Large Group Of -- **·,, Misses and Juniors SPORTSWEA STP OIL TREATMENT oscb C '*··*·· 3 .' ' · ^0 Limit On* PIMM Regular Price house of fashion

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