Northwest Arkansas Times from Fayetteville, Arkansas on September 6, 1974 · Page 18
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September 6, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 18

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Fayetteville, Arkansas
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Friday, September 6, 1974
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It NorthWMt Arfcanui TIMES, Friday, Sept. 6, 1974 FAvrrrtviLLE, ARKANSAS '~t* T " " t ; , V*. ;M* r *;; ; x , ovrv;; v, ^ . ^ V x ' * N ;s - . -«, U.(V -V ( » 4 ' * ' ''^ V\: V ^'\K - · » ttf - \ i ^ ·, · ! : ; v.^, « , ' v '-. v \ l ,* * "y " l * - V*\*"N ; - o ;v*" k *j ' " , ' . . ^ ,v « " ft V s - * " , * ' » * ' , ! - , ^ · - ' t \ · * \S**V . , v f ·**· ^ ^ .°-^\ ' % \,a) ' . - , , f-\ *T, Sf ,, . ,- f n i .--^TM^;^?' : ,,;|}4^j . x -ST. -*· *?,, ^ v*. r. % j\\»*1 ±\\, The Nixon Compound This is the area that former cayne. The heliport Juts out rear of Nixon's house. He Secret Service men occupied President Richard Nixon used (upper right) into Biscayne lived in (he home with the the home at the heliport.:(AP as his 'Florida White House' Bay; heneath it can be seen covered swimming pool; Wirephoto) : - . - . ' . ' when he rested on Key Bis- the shark net protecting t h e worked In the one above it. · '. · :··; ': ' CBS News Special 'Peace And The Pentagon' To Be Seen Tonight By JAY SHARBUTT NEW YORK (AP) -- H you've time tonight, take a gander at a CBS News special called "Peace and the Pentagon." It lasts an hour and covers the current and potential shape of the post-Vietnam U.S. military establishment. The program, scheduled for last June, then pre-empted, updated and rescheduled, doesn t touch on Congress and Pentagon thinking about whatever military threat China may pose in future years. It instead concentrates on the potential threat of Russia, what the United Stales hss or wil! have to meet it, and how, and the running debates over the ever-rising cost of the U.S. military machine. Despite the show's China omission, "Peace and the Pentagon" is well worth the viewing time, particularly because it contains rarely seen film of Soviet armor, missile and naval power--including shots of one of Russia's new helicopter carriers now in the Mediterranean. Such rootage adds strong, important visual impact and puts the show several notches above television's usual whither-the- military essays, which often ieem exercises in unreality. I have reference to those epics which mostly roll oul eading poabahs to defend the efense budget of $12 trillion, len bring on leading critics to ay it's worth but $10. trillion, ien let both sides: debate the ifference with vigor . as -the riewer seeks out "Highway Parol." This show doesn't escape that rap, particularly in one segment in which Paul Warnke, a )efense Department chieftain n the Lyndon B. Johnson ad- Official Notes Southeastern Industrial Growth ATLANTA, Ga. (AP) Georgia's manufacturing em ployment has more than dou .bled the national average dur Ing the last decade but the state still ranks lowest among Southeastern states, according to the Bureau of Labor Statis tics. Brunswick A. Bagdon, assist ant regional director of tin BLS, reported the state's rat of increase in the period from 1953 to 1973 was 36.2 per .cent compared with the national av erage of 16.6 per cent. However, all eight states in the Southeastern region wer among the top 15 leading indus trial states. Georgia ranked 14th in manu factoring employment in 197 with 494,300 workers. Bagdon said the significan development is that the South east is becoming industrially important. He pointed to the re gion's population boom as factor in opening new market and attracting new manufac turers. Among Southeastern stales Florida had the highest per centage increase in manufac turing jobs with 63 per cent Following in order were Mis sissippi 62.4 per cent, Kentuck 55.9 per cent. Tennessee 51. per cent, North Carolina 42. per cent, Alabama 40 per cen and South Carolina 39.3 pe cent. The'greatest increase in th 29 leading industrial states sur veyed occurred in Arkansas where employment increase 68.1 per cent. Three Indicted LITTLE ROCK (AP) Three income tax consultant have been indicted by the Fee era! Grand Jury for the Wesi . ern District of Arkansas for a legedly aiding and assisting i the preparation of fraudulen income lax returns. The Little Rock District the Internal Revenue Servic said in a prepared statemen that the j u r y returned 23-count indictment agains Harold Hallman, a former stat representative from Sevie County. ministration, holds forth on what military capability might be had in terms of "constant 1974 dollars." But on the. whole, the program is remarkably lucid and concise in its .study of military matters, with a large amount of credit due narrator-correspondent, Bob Schieffer, CBS 1 man at the Pentagon until he replaced Dan Rather at the White House this month. Malone Suspended LITTLE ROCK '(AP) -- .Cec L. Malone Jr., associate admin istrator in charge of unemploy ment insurance ' in ; . the stat Employment Security-Division has been suspended · for- 45 .day reportedly for insubordination The suspension- ,was -by Merle Lemley,.administrator o the ESD. . wit sai Wednesday" he was " summone last w e e k from -a '.meeting i Salt Lake .Gjty.'and memorandum for 30 days with'' : pay/': the memorandum mentioned n specific charge and 1 that; Lem ley did not discus's it..' Malone, the agency for:21 years, Economists Advise Seeking Looser WASHINGTON AP) The 'ay to tell when money is tight i. when the economy is hurting. That's how it is now, with nemployment at 5.3 per cent nd expected to edge upward to or even 7 per cent. The prime ate, T the interest banks cahrge leir best customers, is at a ecord 12.per cent. Home loans re pushing 10 per cent, and IB home, building industry is in Is. steepest; slide in history. 'Such were/the developments lat - prompted a recurring ne among the economists who : advised President Ford 'hursday to seek a looser mbon- y supply. But the President, for all his power.rcan only persuade when t-comes to regulating the mon- y supply. That chore is en- rusted to the Federal Reserve ioard,. known as the Fed. The ·"ed was-created shortly before World-War -I and-is now headed y Arthur F. Burns. Burns/andj_ his seven fellow governors have tightened the noney .supply ? 'by keeping -Ji rom growing as fast as it has in Tece.nt!years,' .; · ' The money ' supply grew an average: of about. 4 per cent a year · in the 1960s, then bal ooned 8.7 per cent in the boom year of'1972'before the Fed ap plied the brakes. The board cu ;he growth rate to 6.1 per cen last year arid is shooting: for something between 3 and 7 per cent this year. 'Tight money means lower de m and for goods and a down ward pull on rising prices. · The Fed has three tools for tightening the money supply. ' One-is to increase the amoun of money banks must hold reserve to back up their depositors'^ "accounts. Currently, the Fed, requires the nation's biggest banks ; to,maintain reserves to 18. per cent of customers' checking a c c o u n t balances. That's up-by half a percentage point since November 1972. The second tool is the discount rate,,or the interest the Fed charges^member, banks to borrow 'money. The discount currently is a record D per cent and a; lull 3 per cent above January 1973, .when the Fed began · .· .tightening the.' money screws, in earnest. The Fed's, third, and preferred, method is something ailed the "Open Mark'etLGom- mittee," headed by Burns and omposed of his'fellow gover- ors and four other members lected by the Federal Reserve «nks around the country. When the committee wants more money in circulation,- it buys securities on' the'-open harket, thus pumping money. n,tp the econohiy. Wnej;Vth«! rfiqney supply is. growing!'/t'ob iist, the Open , Market :;Cpn^- mitte sells some of the '.secu- ities it holds/, siphoning money nto its coffers,, The Fed orchestrates the New Wave 01 Arab Violence Sweeping Over Jewish Stale f JERUSALEM (AP) --;A new merit, and native to the west way*: oX Arab ; viplpnce efnanat- ing from follhin arid but Side Is? rael is-sweeping across the Jewish state. By Israeli count, at least five bands of guerrillas bound on missions were inter- since Aug. 24 after :omm|ttee's operations as fine- y as possible. by keeping a close 'watch on growth in the money supply and'the effect of he growth on' a key money narket vehicle -- the federal 'unds rate. Federal funds are excess fe- erves that banks lend to each other. A high federal funds rate usually signifies tight money. .iThe rate had never hit 10 per cent before last year. It has already gone over 13 per cent and currently has receded to about 12 per cent. terror cepted _ crossing neighboring Arab borders. Bombs ' have exploded--or been, discovered before going off--ii) Jerusalem and two other large Jewish towns--Ne- tanya and Kfar Sava. ^"Suspected terrorists have bijep rounded up in Netanya a,nil Jerusalem. · The Greek Catholic archbishop of Jerusalem, Hilarion iCapudji. is under arrest, accused of gun-running for Al Fatah guerrillas. Israeli authorities concede that what concerns them most is that unlike past upsurges in terrorist activity, some of the latest wave seems deeply rooted in the west bank, which Israel has occupied for more than seven years. Past bombing waves have usually .been traceable to guerrilla groups based in Beirut ahc Damascus: But now a new crop called the Palestine Nationa Front--PNF--has surfaced. It bank, say Arab affairs experts.-. . 300.ARRESTS -i Judging by figures provide^ by Israel's prison authority, at; least. 300 Arabs, have been ar;' rested in 4he west bank sincai the Mideast war of 1973. "Sevf eral scores" among: them are' Communists and PNF support-: ers, Israeli sources say. Israeli officials see three pos : sible reasons for, an upsurge in west bank elandestine'activity:; --The October war, which ihattered - the image: of military, invincibility. ' -\ --The diplomacy ,of U.S. Sec^ retary of State Henry, A. Kissing ger which may result in an Isy raeli withdrawal from at .least a-part of the west bank, seized, from Jordan in the 1967 ArabJ ' Israeli war. . . - !·· --Soviet overtures to the esv tablished Arab guerrilla organ, izations, which may have en-; couraged the outlawed west- oank Communists to move to: the forefront. i. The latest bombings appear, minor compared with the spec-; tacular and bloody attacks by- guerrillas earlier this year on! such Israeli towns as Maalot- -- . _ _ . is a Coriimunist-affiliated move and Kiryat Shmonah. KeMer Graduates ROGERS -- U;S.'Air Force T-Sgt. Boyce J. Keller, :son of Mrs. Vergie Whitley of Route 4, Rogers, has graduated from the Tactical Air Command'Non- commissioned Officer Academy at Langley AFB, Va. The sergeant, who received advanced military leadership and management training, is. a medical resource management technician at Shaw. AFB, S.C. Farmer's Mutual Insurance Co. 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