Northwest Arkansas Times from Fayetteville, Arkansas on August 8, 1974 · Page 6
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August 8, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 6

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Fayetteville, Arkansas
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Thursday, August 8, 1974
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6 · Northwest Arkansas TIMES, Thurs., Aug. 8, 1974 ^ FAYETTEVILLE, ARKANSAS Big Banks Accused Of Forcing Wedge Between Owners And Users 01 Capital by JOHN CUNN1FF NEW YORK (AP) -- Big banks and an outdated and inflexible Federal Reserve. Board philosophy is ruining the American economy · and "transforming us from a nation of investors into-a nation of lenders ; and borrowers." - · This summarizes :one small aspect of John Wright's lesti- - mony this week to the House Banking and Currency Committee, and except for the accompaniment of a great amount of research, it probably sounded like an old refrain from a rigid mind. House Cuts Nerve Gas Appropriation : ' WASHINGTON (Ap) - The House of Representatives has · struck from its defense 'appro prialions bill '$5.8 million for the development of n e r v e Wash., the sponsor of the gas at a ' P i n e Bluff, Ark. arsenal. · Rep. Floyd V. Hicks, D amendment to cut funds, ar gued tfiat there was no need to produce more nerve gas weap ' ons. He said that 50 million pounds of chemical weapon: are now in stock. The funds, however, may. bi restored when the bill goes ti the House . Senate conferees since Sen. John L. McClellan D-Ark., chairman of the Senat Appropriations Committee, ha endorsed the project. Wilson Resigns RUSSELLV1LLE, Ark. (AP -- Dr. Winston Wilson has re signed as executive director the Human Services Center West-Central Arkansas, Inc., t return to private- practice as consulting psychologist. Travis Adams, the presiden of the center's board of direi tors, said he hoped soon I name a successor to Wilson. The center provides inept health services and receive both federal and local funds. The banks, he said^ have in- rposed themselves "between e owners and users of capital causing the transformation equity capital into debt, in- estors into lenders and busi- essmen into borrowers instead partners."' ; . ' ' The Federal Reserve, he aid, i threatens the traditional tnericari free enterprise sys- m by denying working capital American business and by isisling that high interest and no-growth economy are ceded to-Tight inflation. Interestingly, Wright isn't a opullst so much as a business- nan! His' investment manage- _ent and advisory organization andles directly about $250 mil- on of investments. It advises ' New. York Stock Exchange lember. firms. And most s'_ ificantly. it advises about 500 anks and institutional in- estors. Americans, Wright says, in ffect, are taking it in the neck ecause of some irrational linking on the .part of the na ion's leaders who, he says, are vorsening the very problem; Board To Hire LITTLE ROCK (AP) -- ' t consultant will be hired by thi upervisory board of. the Crimi nal Justice and Highway Safet nformation Center to study th ong-term computer needs he state's criminal justice sys em.' . · The board decided Wedne.E day to hire the consultant s hat next year's General A sembly will have an alternativ to a plan being developed b the staff of the state Informa tion System's Executive Com mittee. The committee is a cabine level group appointed by II governor to plan and overse all data processing by sta agencies. The administration and som law enforcement agencies the state have disagreed whether law enforcment orgai izations should have their ow computer system or share on with other state- agencies. ey claim to battle. in his prepared teslimony, he id that in 19G5 tho bank ime lending rate was 4.53 per rit and the consumer price.in- ex rose 1.7 per cent .for the ear. The prime is now 12 per ent and so is the rate of price creases. : High interest rales today add the cost of doing business, s Wright. They lead to high- r prices. They add to every- ne's cost of living. And they Employes Covered By Security Law Increase LITTLE . KOC1C CAP) -- A stale Employment Security Division report shows that em- ployes covered by the Arkansas Employment Security Law numbered 531,124. in December 1973 -- almost 50,000 more than 12 months earlier. Employes covered by the Jaw earned almost $919-.million during the last quarter ol 1973, about $150 million more than the last quarter of 1972 and about $54 million more than 1973 third-quarter earnings. The report said total wage the HELEN HELP US By HELEN AND SUE BOTTEI, Rejected Girls Pan Sorority Membership book for males on how to icep their wives? -- FOK MUTUAL" M A R R I A G E DEAR FMM: I prefer your title, "For Mutual Marriage," on a book bat emphasizes honest com nunication; liberation--he from making all the rules, she from taking them; equal partnership ^ eliver the economy into ands of the big banks. High interest rales draw loney from the equity mar- els, of course, and the latter re,now almost comatose. Cor- orations carihot raise equity apital and -so are forced to orrow from the batiks. Wright proposes an in estment tax credit of $50 for earnings in 1973 represented average weekly wage of $125.55 or all covered workers, up rom an average of $117.69 in very $1.000 in savings or in- estment growth, as an in- entivc for capital formation he would sharply restricl le .rates on big certificates ol leposils, which he feels in lirectly leads to higher rates or loans. And he would recast the Fcd- iral Reserve Board, which has 'virtually destroyed onr equity markets," so that it would be more responsive to the national economic and financial goals. 972. The BSD said t h e r e were 327,749 persons employed in nonmanufacturing-- industries and 204,108 employed in manu acluring during the last quar ;er of 1973. Fourteen of the'17 manufacturing industry groups recorded employment gains in 1973. The manufacturing eight . sectors of non ' ' Industrie recorded employment increases in 19T3. The largest was in state government where 15,850 workers were added to the rolls.. ' Pulaski County · reported earnings of $233 million by cov- Dynamite At U.N. (AP-- A bundle oF dynamite UNITED NATIONS, N.Y. (AP) -- A bundle of dynamite was found at the United Nations headquarters today. New York policie bbm'o experts were summoned and sped to the scene. U.N. security'chief Col. H. A. Trimble. said five sticks of dynamite were found under a seat in the Meditalion Room, a small room near the main public \entrarice'which is available to delegates and visitors for prayer and silent meditation. No detonation device was found with Trimble said. the dynamite, ered employes during the last quarter of 1973, the highest of the slate's 75 counties. .The highest average weekly salary by county was recorded in Little River County where the average was $162.50- Ashley County was second and Saline County third. Miss Dunaway, Peter Wolf Are Married BEVERLY HILLS, Calif. (AP) -- Actress Faye Dunaway and rock singer Peter -Wolf have been married but they won't have time for a honeymoon. Wolf, lead singer with the' 3. Geils band, is about to go on tour. Miss Dunaway is on call for her next movie, "The Towering Inferno." Wednesday's marriage the first for both Wolf, 28, and Miss Dunaway, 37. RAP: I've been accepted by a very exclusive college sorority that my mother belonged to when she was at the University. But my two best girlfriends didn't make it. (They tried.) Now they're telling me sororities are for snob-sisers, and want me to live in a dorm, hen take an apartment with hem next year. Whichever way I choose, I'll hurt somebody. Mom's counting on the sorority and says it's he greatest. My friends don't want me to break up their threesome. -- WHICH? WHICH: Forget "hurting some'body" for a while and ask yourself, "What do I want?" It you think you'd be happier in a sorority house than in a dorm, try it -- you can still keep outside friendships (though you'll find it isn't easy). But if the sorority route is strictly your mother's idea anc tradition doesn't turn you on then tell her. She may not be as upset as you expect. -- SUE DEAR WHICH: If you're truly undecided, why not try the sorority bouse first, .then, if it isn't for you make plans for apartmenHiv say marriage is mutual ac justment and the idea that me can't change but women mus is another one of those myth dreamed up to keep us submib sive arid dominated. What bugs me is that wome --- 'even young women -- s oflen preach "Whither lead, I will follow" as the fcma formula for successful ma riage. I'm sick of hearing "Ho\ to keep a husband happy." Why · en.ua! consideraton; a lot . sharing; but independence too. Neither mate should cxpec to CHANGE the other, but i a good union EACH will accep arid adjust, and that usual! means changes on both side -- HELEN MM: Your mother sounds like th» voman who said, "Choosing tho ·ight husband isn't as important as being the right wife." 'It's i good thing she found the right lus'oand loo, or she'd be in deep serious. (She may yet be, if ·she finds herself widowed and unable to make decisions.) H e r e ' s t o equality--but without that chip on your shoulder, FMM 1--SUE : TERMITES J CALL ADMIRAL PEST CONTROL r- Rooches, Ants, Spider*, etc. COMMERCIAL » · RESIDENTIAL. 442-7298 ng next year. I understand ralcrnitics are sororities and gaining favo again, after, the '60s "democracy" almost finished them. Since I'm not the exclusive- club type, that's as much as [ can say--my advice might be prejudiced. -- HELEN DEAR RAP: My mother always told me, "Don't marry a man to change liim," and in the next breath she'd say, "A woriian must always adjust in a marriage.' In other words, she must change, but never expect HIM to bend her way. Hooey to that old stuff! mother thinks she lias a perfect marriage, but actually she has never made a decision bigger than whether we'll steak or roast for dinner, ever Dad says, goes, even if he's wrong. Lucky for her, he's a good guy and plays fair. She predicts I'll fail at marriage because I'm independen Do You Need a Detective Ph. 442-6191 WHAT IS FIRST FEDERAL UP TO? Up to 7V2 m Interest on Four Year Certificates of Deposit. Penalties assessed premature withdrawals of certificates. MAY WE SERVE YOU? 2 Locations To Serve You first federal savings On the Square and Northwest Arkansas Plaza PHONE 521-3424 ar 521-3534 D i · Sculptured Oval Fringed Area Rug Sale Dl ,, ...t*,.*****. «** bd\Arrow SCHOOL 6x9 Foot Oval Orig. 79.95 Orig. 129.95 9x12 99.99 Oriental Design 100% Wool Rugs Orig. $45 3x5 Foot 29" Orig. $150 6x9 $99 Orig. $300 0x12 $109 10054 wool Oriental design rugs in a new pattern that is compatible with contemporary or traditional decor. Permanently mothproof. All sizes are approximate. In ivory and bronze. Some sizes in red. Beautiful sculptured pattern rugs in acrylic/modacrylic face yarns. Colors blended to harmonize with Spanish and traditional furnishings. Double jute back for long wear. 3" matchin" fringe. In red, gold, green and blue/green. Unreal Fur-Look Area Rugs Orig. $20 30x54 In. 199 Orig. $354x5 27.89 Orig. $60 5x7 47.99 Extra heavy rugs of Verel® acrylic and modacrylic. Hubberizcd nonskid back. 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