Northwest Arkansas Times from Fayetteville, Arkansas on August 30, 1974 · Page 16
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 16

Fayetteville, Arkansas
Issue Date:
Friday, August 30, 1974
Page 16
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Page 16 article text (OCR)

16 Northwest Arkansas TIMES, Friday, Aug. 30,1974 FAYETTEVILLE. ARKANSAS ' ' l3Df?E-CA ; ST MgunM ifi*W Uw tfftttri Until Saturday Weather Forecast Showers arc forecast Friday forecast for the South and from the Gulf of (lie lower East and very warm weather Great Lakes and for the wcsl- for (he West. Unseasonably ern Plains. Warm weather is cool weather is expected for tlie northern and cr.ntral Plains. (AP Wirephoto Map) Manufacturers See Shortage Of 63 Raw Materials WASHINGTON (AP) -American manufacturers are reporting shortages of 63 raw materials and are predicting further consumer - price hikes unless supplies are increased. The industrialists blame the shortages on government price controls, safety and antipollu- lion regulations, high interest rates, the energy crisis and growing world demand. In a survey conducted by the investigations subcom- 258 industries replying Senate mittee, reported shortages of raw materials, ranging from lime to rels (of oil) a day, S a u d i gold to paper. I Arabia is cutting back two mil A shortage of petrochemicals,' lion a day. Bumpers Blames Inflation On Oil Prices, Grain Shipments George Meany Gives Labor Day Message WASHINGTON (AP) -- AFL- !IO President George Meany says that two years ot rapid in- lation have forced Americans :o abandon efforts to improve their living standards "in favor of just plain survival." In his annual Labor Day mes sage released today. Meany said the problems of inflation and unemployment call out for mmanitarian solutions but until now the government has treated the problems as mathematical equations. "It is our hope the new President will see more than jusl cold, cruel numbers -- that ic'll see people, not percentages, and that he will move ith compassion," he said. M e a n y renewed labor's sledge to cooperate with the new administration and ex Dressed hope 'that President Ford "will seek realistic solutions based on the people's needs, not the patent medicine of economic quacks." As one measure, he urgec ^ord to bring down interesl rates "so that our people can go to work and our families can get new housing. "We in Organized labor know here are common-sense, realis- ,ic solutions to inflation, to the lousing' crisis, to unemployment, to the high cost of food and medical care." But the Nixon administration rejected labor's proposals and spurned its cooperation in favor of tight money policies and ligh interest rates, he continued. The result is that "families are trading down - pot roasts to hamburger; hamburger to soybeans," Meany said. Thousands of workers are los- ng their jobs and the cost of 'ood, housing and medical care are getting beyond the reach ol most families, said Meany, the 80-year-old leader of the 13.5 million member labor federation. · LITTLE ROCK (AP) -- Oil prices and grain shipments to the Soviet Union triggered the periencing right now," he said. Bumpers said it was too early to evaluate the political ef- current inflation in this coun- fects of-former President Nix- try, Gov. Dale Bumpers said on's resignation and Gerald Thursday. Asked if he expected the state to have the same energy- related problems this year as last, Bumpers said, "I think its a possibility, but not nearly the strong probability it was last year. I don't anticipate any of the problems we had last year," he said. "Venezuela is cutting back by a million bar- was mentioned dustrics. the broad category of petroleum-based materials used in manufacturing everything from phonograph records to clothing, · by 181 in- t\ lack of steel was cited by 106, various types of manufactured steel by 172, plastics by 104, paper by 101, nonpelro- leum-based chemicals by 9!, aluminum by 74 and copper by 62. Summing up t h e manufacturers' responses, the subcommittee said the blame for the shortages must be placed on a general increase in international demand for materials and products; high interest rates and low investment returns; 2Vz years of government controls on prices, which made it more attractive to sell overseas; the lack of energy, and government. requirements in the environmental and industrial-safety fields. "This' simply means one thing -- that the world has reduced its appetite for petroleum products because of the prices being charged for it, and I'm sure these people are trying to hold the price up by cutting back on production." The governor said that was unfortunate. "It is not ,to those country's long-term best interests to create and perpetrate the kind of inflation the world is ex- Buffalo River Clean-Up Float Is Scheduled The annual Ozark Society Buffalo River Clean Up Float is scheduled for this Saturday and Sunday. All Chapters in the Ozark Society will participate in the project. The trip by canoe will begin early Saturday morning at Gilbert and continue to Buffalo Point with an overnight stop at Maumee Landing. Points will be given for the bags of trash and other junk collected by canoeists with prizes awarded for top scores. A 15 foot long aluminum canoe is first prize. Float leader will be Steve Wil. son of little Rock. Post Foundation Donates Estate ALBANY, N.Y. AP) -- New York received a 315 acre Adirondack estate from the P o s t Foundation this monlh, and officials are wondering what to do with it. The 28-building resort complex at Upper St. Regis Lake, formerly known as Camp Topr- idge, was owned by the late Marjorie Merriweathcr Post, heiress of the Post cereal fortune. It includes a main lodge and guest houses. The state Office of General Services said on Wednesday that officials are conducting inventories rf the facilities. One possibility is using the retreat for training seminars and meet- Ings of state employes, a spokesman said. Whether the remote lakeside ·stale will be opened to the public has not yet been determined, the spokcsrnsn said. Ford's gaining the presidency. "I think President Ford is a hard-working man with a good working knowledge of Congress; I think he will have a good relationship with Congress," Bumpers said. "How well he succeeds...will determine what happens later. The country is looking for leadership. President Ford and I disagree on wage-price controls. The time now is for some- strong leadership, and even though some of those decisions may be wrong, I think the country would forgive the President unless they were too dramatic, as long as they know he is making a strong, noble and honest effort to come to grips with the problems," Bumpers said. "How those things develop in the next two years will determine what effect it will have on the political scene in the country," Bumpers said. 1,550 Slocks Now For Sale At 30 Per Cent Of 1 Price By JOHN CUNNIFF NEW YORK (AP) -- It's all in how you look at it. A portfolio ' manager and stock market adviser, John Wright of Bridgeport, Conn., has compiled a: list ; of ;1,550 leading American V, nubliqly owned commjfi.^tocks; that* are available at bVp'e'r/'cenl of their market values of five years ago. Does this mean mere are bargains in stocks? It depends upon your assessment of the future. If you believe the capitalist system is irrevocably disintegrating before your eyes, says Wright, (here would really be nothing left in which to invest. But if you interpret the low, low prices as a symptom of "an emerging new era of international regulation of money and credit." a period of stability, t h a t is, then you might decide the risks are worth the rewards. "In which case," says Wright, "There is no time like the present to buy, not sell, the common stocks of blue-chip industrial corporations." How does Wright personally view the situation? Although he feels a major financial crisis of European origin might possibly severely affect American security markets within the next few weeks, he advises investors to retain investment grade common stocks. Consumers also have learned that the point of view you take might determine your mood, and vice versa. consumers might exult m learning that the dollar amount of disposable Income nas been growing this year. In 'act, from the first quarter of 1973 through June of this year it has risen at an annual rate of 3 per cent. 'But now yoii have to relate that increase to something else -- to prices. Prices also hove icen rising, of course, and at a faster clip than dollar Income. That 9 per cent increase now becomes a 1.5 per cent decline. The situation becomes clearer when you realize that the measuring stick used, the dollar, doesn't have a constant value. It is true that Americans are earning more dollars, but those : dollar's are worth less than 1973 dollars. H o m e o w n ers also have learned to view their, persona financial position from two perspectives. By one measure, the rising market prices of homes, those who already own homes have a solid investment, or at least a hedge against inflation. The house they bought in 1970 for $30,000 might be worth $40,000 on the market today. On paper it all looks nice, bi. how do you turn the paper into profit if there isn't a market. In many communities houses are advertised at steadily higher nrices -- without any homes being sold in months. The unavailability of mort gage money has so dampenet the housing market that a gooc many of those so-called marke prices aren't anything of the sort. If there's no markei there's no accurate markei price. DeadHne Extended For API Briefs LITTLE ROCK (AP) -- Law yers will have until Sept. 9 to file briefs with the slate Public Service Commission concerninig Arkansas Power Light Co's proposed White Bluff power plant. The proposed coal-fired plant is to be constructed on the banks of the Arkansas River near Redfield in Jefferson County. The deadline had been Sept 5, but the PSC extended it upon agreement of all of the lawyers involved, Kent Foster, PSC chief counsel, said. Copier Thefl Nets Six Month Sentence FORT MEADE. Md. (AP) -A young Army private is beginning a six-month term at hard abqr as punishment for landing a stolen helicopter on the White Bouse lawn. Twenty-year-old Robert 'K E'reston was sentenced by i military jury on Thursday aftet a three-day trial in which he pleaded guilty to charge; stemming from his Feb. 17 ae rial escapade. Preston called it a strange sentence but added, "It's easy to live with six months'." He promised Ms mother, "I ain'l going to fuss and fight IK more." Preston's defense attorney Japt. Herbert Moncier. said "We're very disappointed" anti announced that he planned to appeal the sentence. The eight-man military panel sentenced Preston to one year at hard labor, but military judge Col. Kenneth A. Howard ruled that six months of pre trial confinement in a max imum security facility must b ·subtracted from the science The jury of four officers and .our enlisted men also ordered Preston to pay a $2,400 fine by forfeiting $200 a monlh in saia ry for one year. Preston was liable for a maximum sentence of Vh years at hard labor and a dishonorable discharge, but jury foreman Lt Col. Paul Makowski said the panel had voted against expelling Preston from the Army in order to avoid putting anolh er blemish" on his record. The boy does have notential We felt it might inhibit his re hahihtation," Makowski said Preston admitted stealing th helicooter from the Ft. Meadi airfield, buzzing both the Wash ingtnn Monument and ftio U.S Capitol and twice l a n d i n g on Ibe South Lawn of the Whit House. "f meant no harm." , . t ...,, told the jury, explaining that he only "wanted to Bet attention to the problems T had." State Man Receives Reply From Presiden LITTLE ROCK (AP) -- Joe Dildy, executive director of the Arkansas Industrial Develop ment Commission, found ou Thursday what happens when you write the President. Dildy had written Ford, say-j ing, "As a center on the U n i - j vcrsity of Michigan football! team, you started every o f f e n - l sive play and the rest of the' team helped carry out their assignment. "Now, as president, you will start every offensive move for this country and it is our duty to carry out our part in making our country even greater." Dildy received a letter from Ford t h a n k i n g him for a "very kind and thoughtful message of congratulations. "It is encouraging to have the goodwill and support of the American people," Ford wrote "Working together, I know we can go forward in peace with other nations and in progress here at home." Dildy played center on Ihe University of Alabama football team in 1932-34. Sears Saturday Only BIG BUYS SPECIAL PURCHASE Men's Full Cut Slacks PAIR SEARS PRICING POLICY A special purchase, though not reduced, is an exceptional value. ·Waist Sizes 38 to 46 · Solids, Patterns, straight and flare legs · 65% Polyester, 25% Rayon, 10% Spandex 9'0nly 300 Pairs Special Purchase! Assorted Bath Towels OFF Our Entire Stock of Girls Back-To-School DRESSES Choose from a large selection Sizes: 1T-4T 3 to 6x; 7 to 14 PreJIy Plus: 8 T A to \6Vi OFF Our Entire Stock of Boys Short Sleeve Knit Shirts Sizes: 3 to 6x; 8 to 12 Excluding Winnie the Pooh Knit Shirts Prints and Solids 69 HAND TOWELS 99 C WASH CLOTHS 65 C LAY AWAY NOW FOE CHRISTMAS! 8 Digit Electronic Calculator Evel Knievel Ideal's Cuddly Rub-A-Dub Dolly Motorcycle Stunt Set DC Only Adds, Subtracts, Multiplies and Divides Evel docs roaring wheelies, soaring jumps and breath-taking spin- outs with perfect balance thanks fo bis gyro motor. With removable Evel figure. She just loves her bafhtub fun! She is soakahle with her own diaper nd rolic. Your Choice Winchester .30-.30 RIFLE Ideal Lrushgun . . . .30-.30 Winhester-cal. carbine iveighs only 6\' 2 Ibs., only 3734 in. long. Open adjustable rear sight and tapered post front. Solid walnut slock and forearm with checkered hull plate. Tube- type magazine holds 6 rounds with 1 in chamber. Top ejection, 20-in, barrel, Winchester .22 Lever Action Repeater Rifle 01 £i short or 17 long or 35 long rif "rlf-idEcs interchangeably Reg. 101.M This great rifle has a magazine capacity °L?L s ^ Fi .°. f 17 'ons.?*- '5 long rifle zr l lightweight approximately 64 Ihs. in ywestern styling, and are a great savings! SAVE $13 Men's or Women's 3-SPEED BICYCLE Reg. 62.99 With three speeds so you can fake a ride in stride. Padded cork seaf for all-day riding comfort. In men's or women's models. SHOP AT SEARS AND SAVE Satisfaction Guaranteed or Your Money Sack SCABS, BOCKVCX AND OX Northwest Arkansas Plaza Hiway 71 North Fayetteviile Phone 521-6000

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