Northwest Arkansas Times from Fayetteville, Arkansas on October 10, 1974 · Page 1
Get access to this page with a Free Trial
Click to view larger version
October 10, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 1

Publication:
Location:
Fayetteville, Arkansas
Issue Date:
Thursday, October 10, 1974
Page:
Page 1
Cancel
Start Free Trial

Page 1 article text (OCR)

INSIDE- Edltorlal ....,-.-.·.. 4 For women ...,-.·.· 7 Sports g.11 Amusements 13 Comics 14 Classified .· '.....,.'...-, 15-17 115th YEAR--NUMBER 118 Jlortfjtoegt The Public Interest Is The First Concern Of This Newspaper FAYETTEVILLE, ARKANSAS, THURSDAY, OCTOBER 10, 1974 LOCAL FORK AST- Northwest Arkansas can expect partly cloudy skies and slightly warmer temperatures through Friday. Low last night 43. Lows tonight in the mid 50s with highs' Friday in the upper ,10s Sunset today 6:48 Sunris* Friday 7:20. PAGES-TEN CENTS Anti-Inflation Surtax Proposal Criticized By GOP Candidates Two Girls And A Raccoon lisa, left, and Leslie Gibson, daughters of Proseculing Attorney Mahlon Gibson of Fayettcville, hold four-and-a- half month Rascal, a raccoon horn. in. captivity.. Rascal, given (o the girls shortly after he was born, plays like a kitten with balls, string and gets into usual messes that a young cat does. (TlMESphoto by Ken Good) As Two Banks Collapse Soundness Of Deposit Insurance Said Shown WASHINGTON (AP) -Bankers and government regulators say two record-setting bank failures illustrate t h e soundness of the system for assuring savers Ihey won'l be lefl empty-handed if their banks collapse. The successive failures of the U.S. National Bank of San Diego and Franklin National Bank of New York have presented the deposit insurance system with its heaviest financial challenge yet, 'but the bankers and regulators say those are isolated instances of poor banking practice. In both cases, all depositors were fully protected, even though government insurance guarantees full protection only to accounts of $20,000 or less. The keystone of the insurance system is a $5.8-billion fund controlled by the Federal-Deposit Insurance Corporation, the agency behind t h e FDIC embossed on Ihe doors of 98.5 per cenl of the nation's commercial banks. A similar agency, the Federal Savings and Loan Insurance Corp., covers a like share of the nation's savings and loan associations. READY TO BORROW The keystone is buttressed by the government's readiness to borrow $3 billion more to support savings accounts, by the efforts of bank regulators to pinpoint trouble before it mushrooms into disaster and by the readiness of the Federal Reserve System to unleash its massive money resources. Until 'this year, the FDIC which grew out of the wreckage of the 4.000 financial in stitutions that failed in 1933 had to dip into its insurance fund for only $100 million to make good deposits in the 502 banks that had failed. No saver covered by FDIC insurance los a penny. FDIC's record of ful repayment to 99 per cent of de positors at insolvent banks even includes deposits exceeding lb legal maximum. But the FDIC still is paying to salvage the remains of thi U.S. National Bank of San Ford Pleased WASHINGTON (AP) -- Pres ident Ford is described as wel pleased with a new press con ference format that allows fol low-up questioning. And he ha further experiments in mind. "We're considering, a variet of forums and formats," Pres Secretary Ron Nessen sai after Ford's Wednesday new conference in the sun-drenchec White House Rose Garden. iego, which was responsible r $934 million in deposits hen it went under and was old to Crocker National Bank 1 San Francisco. The latest es- mate pegged the cost to the DIC at $48.3 million. And now the insuring agency faces the prospect of picking up after the Franklin National Bank, which held deposits of $1.7 billion when it was sold to European-American Bank a n d Trust Co. Tuesday. The FDIC hasn't estimated its costs for Franklin. NEWS BRIEFS Child's Bike Stolen The theft, of a 20-inch bicycle as reported to sheriff's eputies by Mrs. Larry Cain f Route 5, Springdale. Mrs. ain said the theft occurred ometime Wednesday. Home Ransacked W. 0. Collins of Route 1, p r i n g d a l e , told sheriff's eputie°s lhat when he returned ome from work Wednesday he ound his home ransacked. Collins said he had not determined whether 'anything was missing. Arc Welder Stolen Hershel Binum of R - o u t e 1, S p r i n g d a l e told sheriff's deputies that an arc welder was taken from his g a r a g e ometime during the past two days. To Free Prisoners WASHINGTON (AP) -- Cuba has promised to release four American prisoners as a goodwill gesture to Sens. Jacob C. Javits, .R-N.Y., and Clai- Mrne Pell. D-R.L, who recently visited Havana. The two senators announced Wednesday-thai Cuban author- ties will release David: Bruce ·lirenburg, Susan Lane Brown, Philip Fred Burris and Richarc ?eter Johnson. Arkansans Missing DIERKS, Ark. (AP) -- Two Dierks, Ark., men, have'been reported missing in.the sinking of an oil rig off the Gulf of Suez near Cairo, Egypt, the mother of one of the men said today. Mrs. Hillery Reel of Dierks said a represenative of Off shore Inc., of Houston, Tex. visited her here Wednesday t lell her that her son, Larry Reel, 24, and Ed Jones, 28, sor of Mr. and Mrs. C. D. Jones o Dierks, were missing. Pancake Breakfast The annual Fayetleville Fire- mens Pancake Breakfast will be held Saturday between -a.m. and 1 p.m. at Ihe Central fire Station.- Tickets a r e $1 ach and are available from my fireman. Jarring Surprise WASHINGTON (AP) -- Pres- dent Ford's pledge to improve utomobile mileage 40 per cent n four years was a jarring surprise to his own Federal Enery Adminislration. still coaxing into makers to agree to a 30 per cent improvement in six Nixon Pardon May Delay Jury Choice WASHINGTON (AP) -- It appears now that massive publicity is not the only matter stretching out Ihe jury seleclion process for Ihe Walergale cover-up trial. The Nixon pardon also seems to be a sticking point. The sifting process was in its eighth day today, and U.S. Dis- Iricl Judge John J. Sirica has senl word lhat he doesn't expect it to be the last. But an aide s a i d at the close of Wednesday's session that Sirica was "still hopeful about Friday -- it looks good.". A prosecutor's memorandum indicated some prospective jurors are bothered that five subordinates of Richard M. Nixon are being prosecuted while the former president goes free. The five, including former White House aides H.R. Haldeman and John D. Ehrlichman, are charged with trying to thwart the investigation of the Water- gale break-in. The memorandum, filed with the judge, suggested changes in the last slep of sealing a jury to avoid giving "the defense an unwarranted advantage in the seleclion of the panel." In the current stage, judge and lawyers are questioning jury prospects one-by-one to discern any. biases that would stand in the way of a verdict based on trial evidence alone. PATTERN OF RESPONSE The memorandum by Special Watergate prosecutor Leon Jaworski spoke of a "pattern of responses to questions about the Nixon pardon" in the private questioning and said if usual procedures are followed there would be "a possibility of un- fairness'to the government." Once the judge and lawyers have settled on a minimum of 45 prospective jurors -- plus an undetermined number extra -the "peremptory challenge" With Soviet Union Improved Relations Sought WASHINGTON (AP) -- President Ford would like to recharge the drive toward improved U.S.-Soviel relations by meeting this year with Russian Communist party Leader Leond I. Brezhnev, but only if there s prior progress in major nego- iating areas. Ford said in his news conference Wednesday, "If there is reason for us to meet before that (the U.S.-Soviet summit meeting scheduled for 1975), I will certainly consider it." Ford said he had promised when he took office to continue the detente policy of former President Richard M. Nixon and took up the subject with various Soviet officials, including foreign minister Andrei Gromyko about two weeks ago, Secretary of State Henry A. Kissinger will discuss a possible 1974 Brezhnev-Ford meeting when he spends four days in Moscow later this month, the President said. After the news conference, other U.S. officials said Ford is not interested in a mere get-acquainted meeting, slrongly preferring serious discussions. They said lhat in line with this thinking, Ford has made substantive progress a prerequisite in such areas as nuclear arms talks and balanced troop reductions in Central Europe. What Ford wants as a pre condition progress in the sec ond round of strategic arms limitation talks, or SALT II, is an indication that, a previous split in the U.S. administration on a negotialing posilion may be over. The pace of detente has slowed considerably since Kissinger failed to achieve the expected progress on SALT II when he last visited Moscow last summer. When Kissinger leaves for Russia, "We will have some guidelines for him to discuss in a preliminary way with the Soviet Union," Ford said. There had been disagreement between Kissinger and Secretary of Defense James R. Schlesinger over the scope of any pact limiting offensive nuclear arms as well as over the numbers involved. Elections Underway Today In Great Britain LONDON (AP) -- An estimated ' 30 million Britons are voting today to choose who will impose rigid austerity on them and how, and whether Britain's future is with the Common Market or with Washington. . Polls predicted an easy victory for Labor Prime Minister iarold Wilson over Edward Heath's Conservatives, but the proposal Tuesday ·ears. Ford's vould require .an average fuel use of at least 20 miles per gal- on in the 1979 new cars. Consumer Alert LITTLE ROCK (AP) -- The Consumer Protection Division of the attorney general's office warned Arkansas consumers today to be aware of promoters selling learning programs and reading devices for pre-school children. The office said that one such firm, "Pre School Learning," is under investigation for viola;ions of .various consumer protection laws. New York City's consumer affairs department claims that this firm recruits job applicants by representing :hat they will train them to test and teach pre-school children. Stocks Post Gain NEW YORK (AP) - stage will begin. . Couple Faces Drug Charges HUNTSVILLE-- A Madison County couple sought by Sherif. Ralph Baker because they f ailed' to send their children to school ended up in jail here for investigation of narcotics activity. B a k e r Nickerson,. said 30, and Man ford his wife The stock market has posted its sixtli best gain on record. Analysts said traders were apparently convinced that business would benefit from President Ford's anti-inflation proposals. At the close of trading Wednesday the Dow Jones industrial average was 28.39 points on the up side, at 631.02. A clerk will seat 12 jury prospects in the order on which they appear on a list made up at random before the trial started Oct. 1. The defense then will be allowed to remove up to 15 people and the prosecution 6 -- all without stating a pause. As each juror-candidate is struck, another takes his place, still in the order on the list. Jaworski said in the memorandum he was worried that the defense might pass on its- early challenges and then at the end have enough remaining to exercise 12 or more strikes. "If at that time defendants know the 9 or 12 individuals who are next in line, they will have complete control in selecting a final panel of 12," the memorandum said. He suggested a complex mathematical arrangement to avoid "the possibility that any party will have a "final say In the selection of the final pan- It would require the defense to exercise two or three challenges in each of the first few rounds to the government's le. A second procedure advocated by the government would be to reshuffle the names of prospective jurors -- and not let the order be known in advance -- so that the defense could not be able to pick the "known individuals." were arrested at their farm home 10-miles east of Kingston Tuesday night after authorities found quantities of marijuana LSD and hashish in their home The sheriff and State Trooper Wendell Byrd went to the Nickerson home 16 serve a warrant issued after the couple failed to send their children to school. Baker said the officers were admitted to the home where they found marijuana and other drugs in plain view. State Police drug invest! gators, called in by Sherif Baker, sent the suspected material to Little Rock when technicians identified it a marijuana, LSD and hashish. Mr. and Mrs. Niekerson are being held in the Madison County jail in $50,000 bond each pending completion of the in vestigation. 11 Boys Charged EL PASO, Tex. (AP) -- Elev been charged en boys have with larceny the dis appearance of $41,000 from si banks. One bank official sail that apparently the hoys simpl} strolled out of the banks unno ticed with the cash. The 11, all El Paso residents ranged in age from 10 to 20. FBI agents said the case in volved banks in El Paso, Fa bens and Van Horn, Tex., an Anthony, N.M. The di? appearances occurred over 30-month period. Ending 13-Day Episode Leftist Terrorists Release Hostages SANTO DOMINGO, Dominican Republic (AP) -- American diplomat Barbara Hutchison was in good spirits and joking after seven leftist terrorists released her and six other hostages in return for safe conduct out of the country. "Suddenly I became a tremendous bargain. .1 went from a million to nothing," the 47- year-old American quipped to newsmen Wednesday night after the 13-day episode ended. The gunmen originally demanded $1 million ransom and the release at 37 leftist prisoners. They got nothing except a wfe getaway. The terrorists, who had held the hostages .since Sept. 27 in a second-floor room of the Venezuelan consulate, were flown aboard a special Dominican jet to Panama, where they proclaimed victory and said they were exhausted. As they left the Boeing 727 at Tocumen International Airport near Panama City, the gunmen, led by leftist Radhamcs Mcndez Vargas, were met by Li. Col. Manuel Antonio Noriega, chief intelligence officer Guard. Miss Hutchison, director of the U.S. Information Service in the Dominican Republic, said she and the other hostages were treated well during the siege and even developed "something of a friendship" with their captors. But she said there were many tense moments, the most difficult being "the waiting and then the various crises as they occur. There was a package of dynamite, and we were living with that." She said that gunmen and hostages alike often were short of water. The government intermittently allowed food and drink to be taken to those inside the consulate. Miss Hutchison told newsmen that despite her ordeal she intends to continue her tour in the Dominican Republic that began in 1972 after a long USIS career in other parts of Latin America. 'Mendcz bet me $5 that 1 would have to leave the Dominican Republic because (he said) all diplomatic kidnap victims have to leave the country once they are freed," she said. "But I was informed that I would have the option to go or stay, and I told Mendez 1 was staying." The hostages -- who also In eluded two secretaries, a messenger boy, a Spanish priest and the Venezuelan consul and vice consul -- were greeted by joyous friends and relatives when they emerged from tl consulate. At the same lime, the terro is Is were driven to the airpo to board the special jetliner. The gunmen look over t! consulate after they kidnapj Miss Hutchison from oulsi her office about eight bloc away. In the early days of t siege the gunmen claimed th 23 terrorists were involved. Government officials un Wednesday morning thoug there were six of them. But USIS photographer sent insi the building to photogra them for travel documents la there were seven. Us have been dead wrong in itain's last two elections. The domestic choice is be- een Labor's assertion that e way out of Britain's eco- mic crisis is through social- m and the Tories' stress on Ihodox conservatism. Neither choice may prove fficiently appealing to give ;her party a majority in Par- ament, and there have been dications of an upsurge in the rength of the Liberal parly nd nationalisl parlies in Scot md, Wales and Norlhern Ire md. If neither the Laboriles nor tie Tories win a majority, Brit n may have to settle for a mi ority government, as it die st February. TO FORM MAJORITY To form a majority govern lent, a party has to win at last 318 of the 635 seats in the ouse of Commons. At dis olution. Labor held 298, the ories 296, the Liberals 15. the Ister Unionists "10, Scottish na- onalisls 7, two seats were va ant and the rest were dividec mong splinler groups. Much of the campaign has lired in battles over statistics nd in exchanges of invective ut the parties agreed on one oint: Britain is living far be orid its means, and for at leas few more years living costs ill rise and living standards ;ill fall. Wilson has estimaled it wil ake two full years of La bo overnment before Ihings begii o improve' again. Heath famed thai the^Labor program 'ill plunge the nation into ca astrophe. In foreign policy, the direc on of the ballot could deter line whether Britain remain ctive in the Common Marke r turns toward Washington nd a revival of the Com monweallh. Wilson's Labor governmen as been essentially Allanticis n outlook, cultivating London Vashington ties and opposinj Britain's membership in thi Common Market. On the other hand, Heath's pnservatives have pledged to enew the emphasis they have always placed on Britain's entry o the European community. In heir party platform, the Tories Pressed that Britain's e n t r y nto the Common Market was 'by far the most historic achievement of the last Conservative government." Legislative Weekend Set Legislators,- constitutional officers and special guests w i l l gather at Ihe Universily of Arkansas this weekend for the 181 h annual 'Legislative Weekend. In addition to the members of the General Assembly and the state's constitutional officers, the Arkansas congressional delegation has heen invited to .the two days of festivities. Legislative Weekend is co-sponsored by the University and the Fayetteville Chamber of Commerce. The lawmakers will arrive in Fayetteville Friday afternoon and will check into their quarters at the Western Methodist Assembly on Mt. Sequoyah. Friday evening, they will be entertained with a dinner at the Fayetleville Counlry Club sponsored by Ihe Fayetteville Chamber of Commerce. On Saturday morning, they will be entertained at breakfast by the Associated Student Government, and will have an opportunity to visit with students. This will 'be followed by the a n n u a l pre-game luncheon in the Arkansas Union at Ford Contends Cost Only Few Cents A Day WASHINGTON (AP) --'A number' of Republican candidates' in 'next 'month's elections h a v e ' 'disassociated Ihemselves from ' the ' anti-inflation, surtax that President Ford contends would cost taxpayers only a few cents a day. Criticism from GOP Senate and gubernatorial candidates came as, the. senior Republican on the .House Ways and Means Committee,. Rep. Herman T. Schneebeli, R':Pa. t said he believes, .the .fate, of Ford's 5 per cent surtax proposal "rests on the. American public and what they.tell. us. when we go home." Ford* -who. has conceded that many -thought the'tax'proposal "poliUcally. · unwise" just four weeks--before-the Nov. 5 elections, tried a-new approach in defending it--Wednesday at his outdoor news conference in the White House-Rose Garden. ' .A f a m i l y - o f - f o u r with $20,000 gross income would pay $42, or 12 cents a - d a y , while a family with $16,000 income would .pay only $3 -- or less than one penny per day, Ford said. And he .said, that only 28 per cent of the. nation's, taxpayers would pay any additional tax. rle said enactment of the sur:ax and the rest of his anti-in- 'lation'package could produce "a meaningful reduction in the rate of inflation" by early 1975. Ford'went to Philadelphia to boost'' Republican candidates Wednesday night. He told a fund-raising dinner the surtax is fair- and equitable. DO WHAT'S RIGHT The American people "want to step up and do what's right. Politicians ought to do the same thing," Ford said. But just before the President arrived, the Republican guber- 11 a.m. The legislators and other guests will wind up their visit to the campus by watching the football game between the Razorbacks and Baylor University, beginning at 2 p.m. natorial candidate in Pennsylvania, Drew Lewis, told reporters he opposed the surtax and suggested closing tax loopholes instead. And Republican Sen. Richard S. Schweiker of Pennsylvania', also up for re-election, denounced the surtax. In Kansas, GOP Sen. Robert Dole declared thai many people in Ihe state who made $15,000 were suffering economically and "the last thing they need is an additional surtax to pay." Ford also said at his news conference: . ' --He believes a orte-year surtax will be sufficient, instead of a two-year tax suggested by Rep. Al Ullman, D-Ore., the acting head of the House Ways and Means Committee. --There has been "nothing to change" his inclination to run for the presidency in 1976. --He will meet Oct. 21 with Mexican President Luis Echeverria in Nogales, Mexico, his first trip outside the continental United States since becoming President. -He doesn't think there was anything improper in gifts by Vice President-designate Nelson A. Rockefeller to several individuals, including. Secretary of State Henry A. Kissinger be(CONTINUED ON PAGE TWO) Steel Company Fire .Although It looks like a massive freeway crash and lire, It's only debris burned at the Ozark Steel Company lot on South Schon! Street. Fayelte- ville firemen were called at about 9:45 last night and quickly brought under control, by Ken Good) the flame* (TIMESphoio

Get full access with a Free Trial

Start Free Trial

What members have found on this page