Northwest Arkansas Times from Fayetteville, Arkansas on August 12, 1974 · Page 14
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 14

Fayetteville, Arkansas
Issue Date:
Monday, August 12, 1974
Page 14
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Page 14 article text (OCR)

14 Northwest Arkansas TIMES. Man., Aug. 12. 1974 FAVETTEVILLE, ARKANSAS So Says New President Economy Is No. 1 Problem. By JOHN CUNNIFF NEW YORK (AP) -- It's the No. 1 problem -- the economy -- so proclaimed by Gerald Ford himself before he assumed the presidency. And he seemed to confirm this by working with economic advisers hours after taking the oath. If it weren't for Watergate, the true significance of the nation's economic confusion would be evident. The problems arc unprecedented in their intensity: A 12 per cent prime rale nnd roughly the same rale of increase in consumer prices. Undoubtedly inflation helped undermine the presidency of Richard M. Nixon, if only be-, cause people thought he and his administration were so preoccupied with his Watergate problems lhat he ignored theirs. Their fears seemed to be on- firmed when Nixon in his final economic message told Americans to cut back on their spending. Ford seemingly recognizes .he dangers of preaching rather than acting. "It serves no purpose to lecture the harassed public." he said in a recent speech. Despite Nixon's repealed assurances thai Ihe worst of in- 'lation was behind, the worst always was ahead. On his final full day in office it was announced that wholesale prices for July rose 3.7 per cent, or at an annual rate in excess of 40 per cent. S i g n i f i c a n t l y , Jusl a s prominently as he called allen- tion to his foreign policy successes, Nixon omitted any reference in his resignation speech to his domestic policy. His legacy in domeslic economic policy is disarray. Savings' banks are rapidly losing deposits because they cannot offer customers the high interest rates available elsewhere. Home mortgages therefore are frequently unavailable. More seriously, there is considerable feeling in financial circles lhal some savings banks are headed for more trouble. and that action to restore con- 'idcncc is required by the Ford administration. Public utilities, hard hit by higher energy and borrowing costs, are so severely pinched they must reduce or suspend Nixon Put On Shelf LONDON (AP) - The wax likeness of Richard M. Nixon has been put on the shelf al Madame Tussaud's Wax Museum. "After hearing the news o[ his resignation, we decided it would be better that he he stored," a museum spokesman said Sunday. "He was no longer in a relevant post." The Nixon figure once stood in the Grand Hall, a room reserved for world leaders. The lifesize likeness was removed on Friday after Nixon resigned as president of the United Stales. dividends. This in turn, lowers .heir capacity to raise capita] d meel demands for their scrv ices.' 1 ' - , : . : · The purchasing power of the ordinary factory worker ; is de clining. The jobless rate, al though still n o t exceedingly high at 5.3 per cent, is widely expecled to reach. 6 per cent before the end of the year. Some people ori fixed incomes have been, reduced to despor ation by the rapid erosion o their buying power.: They can not cut back; they cannot trim any. fat from their budgets without cutting 16 the bone. . T h e stock market is de pressed. 'Those high interes rates 'cause trouble there too because they draw capital ,int debt issues that ordinarily should be supporting' stocks And .besides, corporate profits aren't that good. A move' against high interes rales and high prices has to b a j-p priority for Presiden Foj. Mere recognition of th difficulties might in itself pro duce some relief. Attorneys Deny Pardons Sought WASHINGTON (AP) - At- srncys ; for Iwo 'defendants in ie Watergate cover-up ' trial ay they know o[ no attempts o win last -· minute pardons rom President Nixon for the ix men charged in the case. The denials were made Sun- lay in response to a Time Magazine story reporting thai negotiations went on all last week between lawyers for some of the defendants and the White House in hopes gf obtaining pardons before Nixon resigned in Friday. The story did not say which awyers or defcndanls were involved. : ' . ! · · At the last minute. "Nixon screwed us," ' the magazine quoted a'souree close to one de- iendanl-as saying. John ,J. Wilson, attorney [or former White House chief staff H. R. Haldeman, said he made no effort himself and was not aware of any negotiations Jacob A. Stein, the lawyer for cover-up defendant Kenneth W Parkinson, also denied any knowledge of ' the alleged re quest. . .. ' YUMA, Ariz. (AP) --..The LUnicipal water system for this outhwcst Arizona city of 32,000 vas shut -down from mldaft- rnoon Sunday, when the tem- icraturc was 106 degrees, until ·arly today. The city water was cut off liter residents reported finding .ead fish floating in the Yuma \Iain Canal. Chemists labored through iunday to neutralize a deadly nsecticide, parathion, that had been dumped into the canal. Scott Predicts Race WASHINGTON (AP) -- Sen ate Republican Leader Hugh Scott predicts that Presiden Ford will head the GOP nation al ticket in 197G, despite Ford' past assertions that he's not in terested. Parafhion Is Found In Yuma Wafer System None of the poisoned water cached the city treatment lant, water mains or homes, aid James Clevengcr, city ad- inistrator. Some was detected n city storage tanks nest to the anal and 'had to be dumped ind treated. The identity of the person vho dumped the chemical was unknown late Sunday, said Im- ABA President Urges Amnesty HONOLULU (AP) -- The president of the American Bar Association today proposed am nesty for draft evaders Lo eradicate a last symbol of "the cancer of Vietnam." "The ruptures of Watergati and jVielnam have.left feslerini sores in our' national life,' Chesterfield Smith, leader a the 185,000-mcmber legal organ ization, said in a speech open ing of the group's 97th annua convention. Smith said he is convinced the new administration of Ger aid R. Ford Will, cleanse thi wounds of' Watergate. White River Queen BATESVILLE, Ark. (AP) -Sherry Lynn Baker, 18, of North Little Rock is the new Queen of the White'River. She was crowned at the V/hite River Water Carniya Saturday night. Miss Baker, who is'5 foot. 6% i n c h e s ' a n d ' w e i g h s 115-pounds .von the tnlenl division Friday night. crial Counly Deputy Richard Bell. Asked it'lhe dumping was elibcrate, Bell said, "Either hat or someone wasn't think- S-" The dumping took ' plact about two miles 'north of Win- erhaven, on the California side f the canal, ' said Imperial b o u n t y Sheriff's deputies. Health, U.S. Bureau' of Reclamation, wildlife a n d l a w ; c n - orcement agencies · were in- 'estigaling. . . . , - . . 51/4% 6Vi% ff/A.% · 7Vi% We haye a savings program and Interest rate to meel your needs. Foyetteville Savings Loan Association 201 N. East Avenue I LEARN I BASIC OR ADVANCED INCOME TAX PREPARATION Thousands aie earning.good I money as fax preparers. En- 1 rollment open to men end women of all ages. Job interviews available for best students. Send for free informa-' lion and class schedules. Passes Start: · · ·" SEPTEHMER 12 . C O N T A C T CfMQI LOCK: OrTJCE NEAREST YOU: 2-onioeJ to.Strvn You 120* South School, F Phono 208 Thompson, rhom ' 151-5400 Nunn Bush, Roberts, Crosby Squire FINAL CLEARANCE · Summer Fabrics · Sheers · Flocks · Embroideries · Seersuckers · Eyelets · Piques 45" Wide--Polyester/Cotton Reg. $1.98 to $6.98 Yd. SPECIAL C yd Open Thursday 'til 9 p.m. J -» IW FASHiONAJIF. FOB TOMORHOW, FABRIC crrv HAS IT TODAY- FABRIC CITY Gfl VKDi T)u GMi WJia Main It' Men's Short and long Sleeve SPORT DRESS SHIRTS MEN'S SHOES DRASTICALLY REDUCED! yS . One Group TM; Values to $30 NOW One Group Values to $25 NOW All Sales Final m '12.63 $ 8.74 No Exchanges ! · Evilyn Hilll · FaydUvllU Arlnnia 9.39 full size . . . . 7.97 12.99 queen size . .9.97 15.99 king size ..12.97 SAVE 25% THERMAL BLANKET IN TWIN SlZE Wear-dated .Acrilan® acrylic/acrylic blend. f* Ary Nylon bound. 'Machine Oat/ / wash and dry. REGUIAP.LY $7.99 LOW-COST INSTALLATIO. AVAILABLE HEAVY-DUTY TC SHOCKS REGULARLY $14.9B 1-3/16" pistons give you 41% more bou nee- controHhanmostorig- inals for smoother riding and surer braking. Extra control means more safety. i iestem flulo YES, WE HAVE Itl McCULLOCH MINI MAC 30 CHAIN SAW $OQ95 12" Bar OQ I CHAIN SAW SPECIAL E For Your Present Chain Saw p For Saws with For Saws with 16" Ban 20" Bars S1CQC $1 CLUE: WHERE DO YOU FIND m THE BEST BUYS? ANSWER: 6uiddoi|s AT YOUR STERLING STORE · CLOSE OUT 3 H.P.--20" Cut LAWNMOWER Sacrificed $ 44 · CLOSE OUT One All Ladies', Children's Boys' SUMMER SPORTSWEAR MARKED PRICE OR LOWER

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